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What caused the financial crisis?

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What caused the financial crisis?

from JoeUser Forums

You should definitely pass this around:

Update:

More here:

http://pajamasmedia.com/rogerkimball/2008/09/29/who-caused-the-biggest-financial-crisis-since-the-great-depression/

58,613 views 65 replies
Reply #51 from JoeUser Forums Top

This is actually a really good explanation of what happened:

http://www.investopedia.com/articles/07/subprime-overview.asp?Page=1

 

Reply #52 from Stardock Forums Top

Quoting Smoothseas, reply 50
Flipping is a term used primarily in the United States to describe practice of buying an asset and quickly reselling (or "flipping") it for profit. Though flipping can apply to any asset, the term is most often applied to real estate and initial public offerings.
End of Smoothseas's quote

That is a bit vague lol... OK try to flip a property with out doing anything to it even in the next boom market... let us know how it goes.  While it is techniclly (highly not likely) possible to find a house you could flip without renovation, people who make money regularly on flipping houses look for property that is distressed.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sins of a Solar Empire: Rebellion
Reply #53 from JoeUser Forums Top

So once again THE SUMMARY OF THE CASE PROVES THAT CLAIM TO BE FALSE.
End of quote

No,that only proves the excuse used to bring the case.  But if you believe everything you are spoon fed, that does make life simpler.  Critical thinking is not easy.

Reply #54 from JoeUser Forums Top

No,that only proves the excuse used to bring the case. But if you believe everything you are spoon fed, that does make life simpler. Critical thinking is not easy.
End of quote

I dont believe or assume anything in this particualr case and was only disproving what you and another were assuming.

Reply #55 from JoeUser Forums Top

I dont believe or assume anything in this particualr case and was only disproving what you and another were assuming.
End of quote

You disproved nothing, nor were we Assuming.  But I am aware of the case and the particulars.

Reply #56 from JoeUser Forums Top

But I am aware of the case and the particulars.
End of quote

Which was settled out of court without the bank ever having to cough up records of loan applications that might have proven things one way or another.

 

Reply #57 from JoeUser Forums Top

That is a bit vague lol... OK try to flip a property with out doing anything to it even in the next boom market... let us know how it goes.
End of quote

People were doing it in the highest growth areas with newbuild condos and townhouses. Fla, Cal, Nev., Az. Some of these markets were going up 15-20 % annually. Unfortunately now that are falling just as fast...lol

Reply #58 from Stardock Forums Top

Quoting Smoothseas, reply 57
Fla, Cal, Nev., Az. Some of these markets were going up 15-20 % annually. Unfortunately now that are falling just as fast...lol
End of Smoothseas's quote

I live in California and my uncle has flipped several houses and wouldnt touch a house he thought was only 15-20% mark up there are still other costs in selling a house.  Please try to flip a house in the next boom market without doing anything to it and see how profitable it is.

Reply #59 from JoeUser Forums Top

Please try to flip a house in the next boom market without doing anything to it and see how profitable it is.
End of quote

No need to.....I was simply pointing out something that other people were doing which helped fuel the current situation.  I'm more for buying during a dive and renting until they are paid for, then selling into a boom.

Reply #60 from PolMach Forums Top

Whatever or whoever cause the financial crisis, we should still be more optimistic in gaining back the economy in it's good shape. Because honestly all of us are truly affected in many ways, not only financially but emotionally.

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a cap on payday loans, or at least talking about it, has talked in many states in the U.S. Ohio and New Hemisphere were among the most recent to pass a cap on payday loans, which more or less are death sentences to the lenders in those states. It seems like the wrong move when the idea is that we need to boost the economy so it can recover. Getting rid of the lenders isn’t the smartest move, because the product is in demand, largely in thanks to the decline in purchasing power of the average citizen. Not to mention the fact that driving out a not only millions but multi-billion dollar a year industry of your state is never a great idea, which is why it benefits no one to put a cap of payday loans.

 

Reply #61 from JoeUser Forums Top

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End of quote

You sounded reasonable for a while, but I think you lost it after "<!-- /* Font Definitions */ @font-face {font-family:Wingdings; panose-1:5 0 0 0 0 0 0 0 0 0; mso-font-charset:2; mso-generic-font-family:auto; mso-font-pitch:variable; mso-font-signature:0 268435456 0 0 -2147483648 0;}".

:-)

 

Reply #62 from JoeUser Forums Top

I miss the dancing penguin.

Reply #63 from JoeUser Forums Top

Quoting Daiwa, reply 12
I miss the dancing penguin.
End of Daiwa's quote

You know, I was wondering which avatar is better, Moishe or the penguin (his name is "Usual Suspect").

 

 

Reply #64 from JoeUser Forums Top

You know, I was wondering which avatar is better, Moishe or the penguin (his name is "Usual Suspect").
End of quote

I like this one....it reminds me of the "deputy dawg" cartoon!