On Oct 19, 11:03*pm, BobR wrote:
On Oct 19, 3:06*am, harry wrote:





On Oct 19, 12:15*am, BobR wrote:

On Oct 18, 12:58*pm, wrote:

On Tue, 18 Oct 2011 10:00:10 -0700 (PDT), harry
wrote:

On Oct 18, 5:02*pm, BobR wrote:

But their future have been stolen. *That's their complaint.
Theeconomy has been looted with the connivance of politicians and the
"investment banks".

The economy was not as much "looted" as it was artificially inflated
with easy money and subsequently that bubble popped.

As it has many times before and due to ignorance and greed it will
again.

The "trillions" that disappeared from the economy never really existed
in the first place. There were 20 years of bad political decisions
that led up to that. There is plenty of blame to spread around. Wall
Street was just doing what the government told them to do. Create a
booming housing market among buyers who were too broke to actually
afford houses.. It was the government that operated Fannie, Freddie,
The Federal Reserve and who repealed virtually all of the New Deal
regulation. You could not have had the derivatives without the CFMA of
2000.

It's like saying that Bill Gates is worth n-billion dollars based on
the paper value of his stock. *Sounds good but if Gates decided to try
and cash in all of that stock his billions would evaporate pretty
quickly. *The same is true in the housing market and any other market
that you can name. *The value is totally dependent on what people are
willing to pay and if they suddenly decide they can't pay as much, the
market is going to go down. *It can almost be guaranteed that any
market that goes up to fast, or goes up continously for too long is
headed for a crash unless there is some true growth to drive that
market. *There was no real growth driving the housing market and like
it did in the 70's, the speculation reached a saturation point and
down it came. *The banks might have made it easier than it should have
been but they were obviously just as stupid as were the public that
was buying more than they knew they could afford in the belief it was
easy money.

It was when they could sell their worthless loans to someone else.
(Including the EU/UK banks.)
It was all part of a plan. They knew what they were about.
But what goes around comes around

Its rather difficult to sell something when there are no buyers.
Someone was buying because they thought they could make something from
it. *Someone was investing because they thought they could make
something from it. *The real problem came from the fact that too many
wanted to believe what they wanted to believe without analysis and
they paid the price. *I don't have a lot of sympathy for people who
lost their shirt while trying to screw someone else.- Hide quoted text -

- Show quoted text -

All the **** was/is being unloaded onto the taxpayer. (eg "bad loan
banks")
The credit/rating agencies were all part of the crooked deal. They
were incentivised to give good ratings what turned out to be crap. It
was all planned and organised by crooks in the financial system.
These are the heads that need to be on poles.