GDP: US Economy grows at fastest pace in nearly two years. God Bless Bidenomics.

Concart said:
Had there not been a bank bailout, there would have been a run on the banks and the entire economy would have collapsed. Simpleton right wingers don't understand that. The economy is based on the velocity of money, when the investment banks began to fail, the money stopped moving, almost completely. Bank to bank overnight lending had frozen, which impacted the ability of banks to borrow short term to cover payrolls, etc. The Fed had to step in in their role as borrowers of last resort.

Not one Trump cultist here understands ANY of what I just said. They are simply too fucking stupid.
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Well, they did vote for a fat, ignorant charlatan (twice) and swallowed his Big Lie so there's more proof right there.
 
Concart said:
You poor little troll. Of course I am aware of the repeal of Glass Steagal. It is akin to leaving your door unlocked. You still need a burglar to rob the place. 86% of subprime loans were purchased by investment banks some of whom were leveraged at 30:1. That is the principal cause of the crash. No other factor comes close. I’ve forgotten more about the crash than Tou have learned. Just another dumb fuck parroting the right wing bullshit.

IN YOUR OWN WORDS tell me why the Bear Stearns failure by itself was so problematic. I’ll wait.
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She already did. RQAA.
 
QP! said:
And Trump is the worst of them.

He was on a path to do to the entire US economy what the fraudulent loans did to the mortgage sector.


He was piling in debt at record levels with no desire to slow that while gutting revenues to pay for that debt or basics with the idea that creating an epic crisis would lead to the gutting of Social Security and Medicare to provide revenues back into the system. The only goal being to massively shift more money to the rich while gutting the programs that the MC and poor rely upon.

That is why the Republi'cans' are so obsessed with trying to get to SS and MC as it will provide a lot of revenue that they can then shift to rich.


(which is how Trump runs his own empire of debt. It is basically a ponsi scheme of refinance one stumble from a collapse, which he has triggered many times as demonstrated by all his continual corporate bankruptcy's, he claims are just smart business.)
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Trump does not add government debt. The HOUSE DOES.
 
Concart said:
Completely wrong. F-.

The Chinese were purchasings MBS's at a record pace, which is why the investment banks kept bundling them, even though they were crap. The ratings agencies corruptly propped up those securities, unregulated mortgage brokers kept offering the subprime crap to borrowers with basically no documentation, and everyone took a haircut. The bottom falling out was inevitable. The crash was almost entirely caused by investment banks overleveraged with absolute crap home loans.

You don't know a fucking a thing. It's laughable. The cheap money was not because of the Chinese. The cheap money was because of exotic loans with a low teaser rate. IO loans, neg am loans, arm loans with a ridiculously low initial rate, balloons with a ridiculously low rate.
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That cheap money to make those loans was provided by the Federal Reserve (not the Chinese).
 
I see two of our resident five year olds have chimed in. Sorry, I have no interest in what you have to say. You have both proven yourselves to be fucking morons.
 
QP! said:
Which just shows the depths of your stupidity.

Imagine anyone being so stupid that they say, like you do, that no amount of fraudulent loans going in to the debt bundles matters as long as they are not guaranteed because you would just let the fraudulent loans all default and that would not impact anything.

I am going to try and explain this in even a way a slum lord lawyer SHOULD be able to understand.

Slumlord Lawyer manages the bundled portfolio of individual owned privately properties, as financed by his clients, the banks or institutions who underwrite those mortgage bundles. These are all on the low income spectrum, that consist of, but not limited to :

- town homes
- multi family homes
- condos
- etc

Because it is BUNDLED, your bank financing and the leverage you take advantage of, on the entire portfolio is reliant on all the assets in the bundle performing WITHIN the tolerance ranges of defaults, that each segments historical default rates dictate within a certain tolerance.


NOw, you the slum lord lawyer are notified, that a significant percent of all those loans in your portfolio were completely fraudulent and are ALL going to fail. This blows thru any 'TOLERANCE' or variance the bundle was expected to absorb, so simply letting that failing bundle go bankrupt, and not having any guarantee (should you be able to get away with that) DOES NOT fix the problems that will follow.


Now that the fraudulent assets are exploding, your entire portfolio is at risk due to many factors, which are, but not limited to :

- the entire portfolio now being in or near default due to the leverage it took on including the expectation of those loans performing within tolerance
- the tiers of loans closest to the fraudulent loans, that are not fraudulent but are very low equity, being tipped into default, AGAIN outside tolerance, as the glut of the fraudulent homes hitting the market impacts over all market prices in this low income segment, devaluing the homes of those who had good, but thin equity loans prior, now having homes deep underwater in their equity and the banks now recalling those loans too.
- As those homes too now start hitting the market, it causes a cascade effect thru the entire system until you get to the tier of home ownership that is rich enough to have enough equity to withstand the homes devaluations.

So even without a 'guarantee' it DOES NOT prevent this problem from happening.
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Your effort to school PostMortemPolyp is commendable but methinks he still doesn't comprehend it.
Remember, you're talking to someone who voted for Trump twice and swallowed and fomented his Big Lie which proves he ain't
Real good at processing simple facts.
 
QP! said:
Imagine anyone being so stupid that they say, like you do, that no amount of fraudulent loans going in to the debt bundles matters as long as they are not guaranteed because you would just let the fraudulent loans all default and that would not impact anything.
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why?.....that is exactly what would have happened.....instead, nobody gave a fuck whether the loans were good, bad, or fraudulant because some idiotic government official made taxpayers guarentee them......in a non-stupid world the loans woul either have never been made or the person who bought them would have lost his money......instead, in the world created by stupid demmycrats, the person who bought them lost OUR money.....
 
Obama_Phone said:
but it was in place.

the bankers and the government are working together to fleece everyone else.

it's textbook fascism.

who made bankers leverage up the risk with resecuritization schemes and paid off ratings agencies?

private companies must take their share of the blame.

and you need to open your stupid fucking corporatist eyes.
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sorry asshat but you misunderstand......it IS obvious to me that the whole thing was intentional....

https://www.dissentmagazine.org/article/the-legacy-of-the-clinton-bubble/
 
BartenderElite said:
If Trump had this economy, with close to 14 million jobs added, and growth steady - it would be the greatest economy we've ever known.
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when Trump did it, it was......all we've done is nearly get back there......then the headline won't be "best in two years".......it will be "best in forty years" like it was in 2019.....
 
QP! said:
PmP, does not understand business or law beyond Fox News and OAN 101 teachings.

So he will never blame the elites or rich bankers. Nope, to him they are angels and need to get bigger bonuses as Fox and OAN always say so.

Imagine, as he does, taking the position that no amount of fraud matters in the system as long as the system does not have to guarantee it by gov't law.

it shows he does not know fuck all about how Banks leverage the mortgages REGARDLESS OF GOV'T GUARANTEE, in a way that if one significant segment collapses due to fraud, the entire bundle is ALL put at risk, due to the leverage it was financed on.

He knows he is not supposed to comment on matters of law or business. he is like Marjorie Greene commenting on National Defense. And yet he keeps doing it.
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thanks for yet another opportunity to show just how wrong a demmycrat can be.....
 
Concart said:
Had there not been a bank bailout, there would have been a run on the banks and the entire economy would have collapsed. Simpleton right wingers don't understand that. The economy is based on the velocity of money, when the investment banks began to fail, the money stopped moving, almost completely. Bank to bank overnight lending had frozen, which impacted the ability of banks to borrow short term to cover payrolls, etc. The Fed had to step in in their role as borrowers of last resort.

Not one Trump cultist here understands ANY of what I just said. They are simply too fucking stupid.
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wrong.....if the federal government hadn't guaranteed the loans we could have let a half dozen badly run banks close and get bought out by smarter banks.......happens all the time......
 
QP! said:
I am for not cutting off our nose to spite our face.

The system has been so corrupted that sadly we cannot just let 'the banking system' fail to teach them and gov't a lesson.

Put another way, if you are ancient tribe, who feels your tribe leadership is corrupt and wrong, and you know the neighbouring cannibal tribe is coming for all of you, you do not sit back and allow the neighbouring tribe to do its damage, to teach the leadership a lesson.

America is reliant on the Banking sector and gov't even if they have been corrupted at certain levels and so trying to reform them while not allowing them to collapse is the only realistic option unless you want to live in a Mad Max type world.
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you cut off your balls to save your nose........
 
QP! said:
It is most shocking with PmP if indeed he is a slum lord lawyer as he claims.

As he legit seems to not understand these things and thinks things like 'no amount of fraud within a bundle matters as long as you just allow the fraudulent part to go bankrupt alone'. He honestly does not understand how leverage is used and even if the other loans are not 'guaranteeing' one another, the entire leverage on the bundle will be in default and force a cascade of sales.

PmP seems to have some ability to read what we say and learn and backpedal and adapt his position (he tries to not admit it) but it honestly seems that he always gets it wrong based on his base knowledge.

You would think in an area of real estate bundling, even a slum lord lawyer would have some base understanding to counter the Fox and OAN noise, but nope.
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Concart is the jack-shit you know.......
 
Obama_Phone said:
we understand perfectly.

finance and government coordinate to fuck over everyone else.

you seemed to understand moments ago.

but now you've gone all retarded.
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sorry, but you were 100% wrong when you thought he understood.......you just weren't reading him right......I blame the asshattery......
 
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