On Aug 19, 7:19*pm, Hawke wrote:
On 8/19/2012 1:51 PM, wrote:

On Aug 19, 4:44 pm, Hawke wrote:

The one sentence answer is it was the fault of the anti regulation
republicans taking over the government, and of the financial companies
acting completely irresponsibly, and making a whole slew of stupid
mistakes concerning the way they managed risk.

Hawke

Not believable without a cite.

* * * * * * * * * * * * * * * * * * * * *Dan

It's only not believable to you because of your ignorance of the
subject. You need to do some research on what a CDO is,

What makes you think that I do not know what a Collateralized debt
obligation is? And how does that relate to your rant about
Republicans. You need some proof that the Republicans were those it
fault. And that will be hard to do. I remember too much about
Barney Frank and Chris Dodd to believe it was not at least equally the
Democrats fault. Probably more the Democrats than the Republicans.
Who took the special loan from Countrywide? i will refresh your
memory. It was Chris Dodd, Democrat from Conn. See
http://www.fireandreamitchell.com/la...odd-countrywid
for the Countrywide and other scandals.

and how a CDO
that is full of nothing but Triple B rated bonds becomes a CDO that has
a Triple A rating. If you understood how the rating agencies decided how
to rate those things you might know.

Actually I know enough math that I understand how a CDO that is
comprised of triple B rated bonds gets a higher rating than triple B.
Do you understand that?




If you knew how the Wall Street
banks tricked the agencies into rating investment vehicles filled with
worthless mortgages into first class rated investment vehicles then you
would know how it worked. But you don't know how any of those things
were done in the financial industry. I could tell you but you don't
believe anything so I won't waste my time on informing you. FYI it's
things like this that make me believe you are not well informed when it
comes to this subject.


You think I do not know about finance, but what I was pointing out was
your stupid statement saying it was all the Republicans fault. the
only problem with that is that I know too much about finance.


I just this afternoon watched Kristen Grind on Book TV talking about
Washington Mutual and how it went under, and why. Her book is called The
Lost Bank. She explained how Washington Mutual went from a S&L to the
largest bank to default in the country. Her answer was that it was WAMU
that did it by itself when it went into the subprime market. All the
banks did this because the subprime loans made them a lot more money
than regular loans did. That's why all the banks wanted more of them.
They made a lot of money off them. You should try learning about the
crisis, it's very interesting. It also would help you understand that
what I'm telling you is exactly what the experts are saying. Why not?
That's where I get my information.


So how does a statement the WaMu did it to them selves match up with
your blame of the Republcians. I am well aware of what happened to
WaMu. WaMu was a Washington State bank, and I owed a little of WaMu
stock as well as having a WaMu bank account. And about ten years
earlier I borrowed some money from WaMu.

I seriously doubt that any experts said that the Republicans were the
only ones in Congress that were at fault. Just a reminder Chris Dodd
is no longer a Senator. And Barney Frank suddenly retired. Want to
know why?

Dan
Hawke