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Started By
Message
re: "Alan Greenspan Blasts Trump's Tariffs as "Insane"" Bloomberg
Posted on 11/15/18 at 10:58 am to I B Freeman
Posted on 11/15/18 at 10:58 am to I B Freeman
quote:
He admitted that BUT he is also correct in that tighter money would not have really stopped the collapse because of the government policy in regards to Fannie and Freddi but it could have made the bubble smaller.
The entire operating system he was overlooking was so flawed and corrupt it is staggering it actually stayed afloat as long as it did. “Tighter money” is just the tip of the iceberg.
1
Posted on 11/15/18 at 11:02 am to 0
That is true.
Those banks were buying and creating derivatives on loan packages in such large volumes that no entity could have the capital to stand behind them.
It was really crazy nobody every questioned them. They would sell default derivatives on the same packages of loans hundreds of times and no one every said "can you financially cover these commitments if the package declines in value 5%?"
Those banks were buying and creating derivatives on loan packages in such large volumes that no entity could have the capital to stand behind them.
It was really crazy nobody every questioned them. They would sell default derivatives on the same packages of loans hundreds of times and no one every said "can you financially cover these commitments if the package declines in value 5%?"
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