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The New York Times has released a preliminary write up of the 500 and some page report due out by the commision set up to investigate the colapse.

Vey interesting read....Spoiler alert...It wasn't caused By Freddie and fannie....this should clasify it as trash to those who already knew the truth...those with inquiring minds....preacher???:laughing:

http://www.msnbc.msn.com/id/41268569/ns/business-the_new_york_times


Let the retruthing begin.:laughing:
 

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I gotta see the report, from everything I have read, F&F are gonna need another bailout this year too... :lookinup:

But yeah, the banks created the bubble for greed, the execs/politicians milked it for all they could, and we got stuck with the bill..

I wonder who was getting the majority of those subprime loans? :huh:
 

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This statement from the article tells us right up front that the report is partisan in nature. From the beginning, the Dems have been determined to lay the blame at the feet of big banks and Wall Street. The Republicans have been eager to point to insane government pushing of shakey mortgages to those who couldn't afford them. It has been obvious from the beginning that it wasn't either/or, it was both/and. This commission obviously isn't capable of giving a definitive answer to the problem because of it's partisan positions.

"Of the 10 commission members, the six appointed by Democrats endorsed the final report. Three Republican members have prepared a dissent focusing on a narrower set of causes; a fourth Republican, Peter J. Wallison, has his own dissent, calling policies to promote homeownership the major culprit. The panel was hobbled repeatedly by internal divisions and staff turnover. "
 

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This statement from the article tells us right up front that the report is partisan in nature. From the beginning, the Dems have been determined to lay the blame at the feet of big banks and Wall Street. The Republicans have been eager to point to insane government pushing of shakey mortgages to those who couldn't afford them. It has been obvious from the beginning that it wasn't either/or, it was both/and. This commission obviously isn't capable of giving a definitive answer to the problem because of it's partisan positions.

"Of the 10 commission members, the six appointed by Democrats endorsed the final report. Three Republican members have prepared a dissent focusing on a narrower set of causes; a fourth Republican, Peter J. Wallison, has his own dissent, calling policies to promote homeownership the major culprit. The panel was hobbled repeatedly by internal divisions and staff turnover. "
I think we have all seen enough information from independent sources as to what happened and why. Not much different that other fed created recessions, except that this time everybody and their dog got a portion. I guess they figure it would be the last chance they have to soak the US taxpayers.. It's really hard to believe, such a poor system (Fed reserve) survived 100 years.. :lookinup:
 

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those with inquiring minds....preacher???
When did I say "they were the cause" ? I stated and will restate "they were the catalyst"... and "remain the biggest threat to the second bubble" (look for that over the next year)... but not the cause.

Brother... I have been far more correct, then I have been incorrect. In addition... this is the NY times. Hardly the think-tank of non-partisanship, especially when you take in to account virtually every economist and so called "Johnny come lately" expert... agreeing with my call months after I had stated it.

As for me... I'll wait for my economic hero, Thomas Sowell, to quantify my thoughts in his method of superior articulation.
 
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