tag:blogger.com,1999:blog-6427940.post572508919919227135..comments2023-12-05T07:50:19.855-05:00Comments on No Oil for Pacifists: Mortgage Meltdown Redux II@nooil4pacifistshttp://www.blogger.com/profile/16688417615117569825noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6427940.post-32923229055682131302011-11-08T23:22:15.600-05:002011-11-08T23:22:15.600-05:00Cram downs to the rescue!Cram downs to the rescue!Lame-Rnoreply@blogger.comtag:blogger.com,1999:blog-6427940.post-45564802082651627982011-11-06T15:25:39.114-05:002011-11-06T15:25:39.114-05:00I think this now-classic assemblage of the Dem com...I think this <a href="http://www.youtube.com/watch?v=_MGT_cSi7Rs" rel="nofollow">now-classic assemblage</a> of the Dem committee members denying in 2004 that there was any problem, even as they were warned by regulators... Wait for the money quote towards the end where Barney Frank wants to "keep rolling the dice", IIRC.OBloodyHellhttps://www.blogger.com/profile/09992539380115488567noreply@blogger.comtag:blogger.com,1999:blog-6427940.post-75074709608744753652011-11-06T11:31:16.635-05:002011-11-06T11:31:16.635-05:00*loans*loansBob Cosmoshttps://www.blogger.com/profile/13420771432114368417noreply@blogger.comtag:blogger.com,1999:blog-6427940.post-53784025372249266162011-11-06T00:55:57.295-04:002011-11-06T00:55:57.295-04:00Suek I went over to IBD to look at the comments to...Suek I went over to IBD to look at the comments to see if anyone asked those questions. It doesn't look like they did, but does look like Bobn is there masquerading as MortgageGuy, kind of funny the debate they are having.<br /><br />http://news.investors.com/Article.aspx?id=589858&p=3<br /><br />Anyways, to your point about the intent, yes I do believe the intent was to get more money into the hands of those who could least afford it. Done in the 'name' of fairness. The law of unintended consequences rears its ugly head and ... *poof* Mortgage Meltdown.<br /><br />The tipping principle applies, which says it takes a small amount of intervention to make a big movement in the unstable market, especially when margins were so thin (they were making loads at %120 of value back then.)<br /><br />BobBob Cosmoshttps://www.blogger.com/profile/13420771432114368417noreply@blogger.comtag:blogger.com,1999:blog-6427940.post-46852397553347505762011-11-05T10:59:47.280-04:002011-11-05T10:59:47.280-04:00Excellent article.
"The author of the 1992...Excellent article. <br /><br />"The author of the 1992 study, hired by the Clinton White House, claimed it was racial 'discrimination.' "<br />...<br />"It took private analysts, as well as at least one FDIC economist, little time to determine the Boston Fed study was terminally flawed."<br /><br />These two statements jumped out at me...<br /><br />Do we know who the author was? Any indication that the omission was a deliberate one?<br /><br />In other words - was this deliberate? (meaning here that the intent was to expand the loans to minorities, not necessarily to cause the massive meltdown. Although...??)sueknoreply@blogger.com