economic crisis in synopsis

B

BadMoFo

Contributor
Veteran XX
gubment "hay banks let these ppl buy houses plz?"

banks "uh wtf, give us monies lol"

gubment "ok, if you want monies give monies giv moar loans plz"

banks "ok lol"

[fast forward]

[new gubment comes in]

gubment "hay guise, moar lol"

banks "ok lollll"

[new gubment comes in]

gubment "hay i think we should not watch you give monies"

banks "kay lol"

fucktards "omg hai 2 u, laons plz"

[fast foward]

market "oh fuck, loans bad plz halp"

gubment "i dinnint see what u did there"

banks "lol bail out?"

gubment "kay guise!"

banks "lol k thnx, asl?"

gubment "4/f/cali"



this synopsis brought you to by the letters "oh shit" and the number "wtf under 10000???"

ITS UNDER TEN THOUSANDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD
 
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obviously saying you can't discriminate means you have to accept unqualified loans, which is why we have so many black hobos running Fortune 500 companies
 
ofn from feb/march but much better explanation for the uninitiated than blaming minorities/ the government

subprime works - Google Docs

there's a variety of reasons for why we are dealing with what we are dealing with, but one of the most fundamental problems was that everyone from individuals to investment banks acted as if the real estate bubble was not a bubble but was a legitimate value increase. I recall someone on TW trying to argue that there was no possible way that house prices could ever fall in 04/05 and there were plenty of other people that bought into that same philosophy in the same way you had people in 98/99 honestly believing that the Dow could be at 35,000 within 5-8 years.

When you build major financial instruments around that assumption, bad things happen.
 
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you forgot the part about obama being a anti-american socialist terrorist lover who caused all of this
 
How bout this. Fed keeps interest rates at record lows for way to long in order to avoid a recession. Easily available money begins to inflate a bubble in the easiest spot possible. People spend and invest money in stupid places. Value of dollar falls. Interest rate rises. Bubble pops. People lose money and look to the government for help when they shouldn't have invested in the bubble. Repeat again and again and again.

Realistically, if it wasn't real estate, it would have been something else. Commodities, pharmaceuticals, something.
 
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