Sub-Prime Primer
- added September 26, 2007
- 10 responses
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- nurielcolburn
- added this
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Explains the sub-prime lending crisis currently affecting the stock market in under two minutes.
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- nurielcolburn
- 09/26/07
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Ah ha! So that's what all the fuss has been about. Thanks guys!
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That was really well done. I still think the life of a 'day trader' is a bit of a mystery to me, but this clears up some confusion. Thanks!
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Ahhh! That explains why I've been denied a loan in every bank in England...
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No one ever explains what is meant by "the Fed pumps money into the economy". To whom? Who gets this "free" money? Nobody's pumping money into my bank account.
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Flumky- Here is a somewhat intelligible response to your question:
http://www.msnbc.msn.com/id/20218020/ -
I think Sonrisa can explain it to me better than any clip!
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At a glance it is my considered opinion that the overwhelming greed started with the award of mortgages to lower credit rated people then "Bundling" them up and selling them on with AAA rating to other greedy outfits.These people are playing with other peoples money. The culprits here are the Hedge fund elite charging 20+% on hundreds of billion $ holdings that they have promised to double for clients in very short time in financial terms. If the whole house of cards is cascading the question then reverberates "where are they...?"
Don't get me wrong, a bit of greed is good so as to fuel wealth creation but overwhelming blind greed should be made illegal and prosecutable anywhere in the world.
Just sometime this January in the city of London it was announced that " £7bn" was to be paid in bonuses to these same people while the rest of the world braces itself for the uncertainty about to come. These practices need to be curtailed exterminated in order avoid the boom/burst cycle in global economies. -
Mortgage companies, like Countrywide, are trying to make it appear as if they’re helping families avoid foreclosure.. but the treatment this family received is the hard, cold, undeniable reality. This video documents how a family with a Countrywide Home Loan was evicted in Texas just days before Thanksgiving. As Ron said the night he moved his family into the Super 8 Motel– “Here’s your mortgage meltdown right here. It’s self inflicted by the mortgage companies. Click on the link for video....
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Bundling up loans led to even a bigger crisis.
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- jumpcut2844
- 4 months ago
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