Origins of the Financial Mess
Friday, December 4th, 2009 at
6:02 pm
Alan Blinder, a Professor of Economics and Public Affairs at the Woodrow Wilson School, the Gordon S. Rentschler Memorial Professor of Economics and co-director of Princeton`s Center for Economic Policy Studies
Tagged with: academic • banking • crisis • economics • economy • finance • financial • lectures • princeton • regulation • uchannel • wws
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awesome interesting
Blinder touches on so many interesting issues that I don’t even know where to begin.
WRONG, The first pop was in the US housing market.
April: Then-Secretary Snow repeats his call for GSE reform, saying “Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform … Half-measures will only exacerbate the risks to our financial system.” 4/13/05)
The United States housing bubble is an economic bubble in many parts of the United States housing market including areas of California, Florida, Colorado, Michigan, the Northeast Corridor, and the Southwest markets. On a national level, housing prices peaked in early 2005.
That is the point, March/April 2005 that “Home and Land Flippers” started loosing value and the area to locate the start of foreclosures that pushed the Prime Derivatives to short markets and float coverage. Musical chairs
I didn’t even listen to all this total horseshit, he is blaming everyone except the Mofo’s he worked for, the Federal Reserve. The Fed’s manipulation of interest rates and the governments laws that required banks to write a certain amount of sub prime loans and the creation of Freddie and Fannieand their lack of regulation, all were primary contributors to the crisis. This cocksmoke is lying.
Blaming the Fed is putting the cart before the horse. The true cause of the current financial crisis is government spending. It’s always a good reminder to ask yourself how government deficits are financed. Yes, they are financed with the sell of securities. Get the picture?
The sludge is destroying fields and lives,the GMO foods is leaving dead animals and suicided farmers around the world,the pharmaceutical companies are selling death, the climate changes have left hundreds of thousands homeless,Bio fuels is starving a billion humans in the world,Health care is sky rocketing due to the fact that everyone is getting sick from the food and the medication, and the government wants to pick up the pieces of these toxic commodities that leave nothing living.Bad economy.
And yes he is right. If you eat genetically modified foods, you will get sick and die, your fault. If you take a highly addictive anti-depressant drugs and become addicted, it’s your fault, if your house was destroyed by climate change catastrophes, it’s your fault, if you eat too much of the new food group, junk food and get obscenely obese, it’s your fault, if sludge is spread on your neighbors fields and your children get sick and die, it’s your fault and if get up to make a buck warn me…