HOUSE OF CARDS on CNBC tonight Thurs Feb 12th

[jpinpb]

So I’m watching it again. They have a clip of Bush saying, “The economy is strong and getting stronger.” I swear, if you watch it, you can tell he can barely, but barely keep a straight face while saying it. It almost looks like he’s holding back a laugh and worried about the veracity of what he was saying, as if he was going to be stricken down by lightening for that lie.

Even though we all know most of what the show is covering and MSM is late to the game, behind blogs and NPR, they did a good job and worth watching.

This American Life – Giant Pool of Money Did a great radio broadcast of this real estate/banking mess, also.

[patientrenter]

[quote=UCGal][quote=patientrenter]I missed this show. (I don’t have a TV.) Did they cover the role of Congress and FNMA and FHA and Freddie…? The Congressmen who pushed banks and regulators to shovel more money at housing are riding higher than ever before, and are probably too powerful to be fully exposed.[/quote]

They talked about Fannie and Freddie – but also pointed out that the real escalation of all this came when mortgages were bundled on wall street as MBSs and CDOs. Subprime, alt-a, etc. (Vs the GSE mortgages). I got the impression that having wallstreet willing to buy every mortgage made to securitize it and sell it was more a factor than fanny and freddie.

But maybe I misunderstood.
[/quote]

Thanks, UCGal. Sounds like Congress got a free pass in this documentary. I kinda suspected that, since Barney Frank and Chris Dodd and Chuck Schumer now hold the reins of power more than ever, and someone would lose out if they were crossed by a bunch of TV producers.

[patientrenter]

[quote=UCGal][quote=patientrenter]I missed this show. (I don’t have a TV.) Did they cover the role of Congress and FNMA and FHA and Freddie…? The Congressmen who pushed banks and regulators to shovel more money at housing are riding higher than ever before, and are probably too powerful to be fully exposed.[/quote]

They talked about Fannie and Freddie – but also pointed out that the real escalation of all this came when mortgages were bundled on wall street as MBSs and CDOs. Subprime, alt-a, etc. (Vs the GSE mortgages). I got the impression that having wallstreet willing to buy every mortgage made to securitize it and sell it was more a factor than fanny and freddie.

But maybe I misunderstood.
[/quote]

Thanks, UCGal. Sounds like Congress got a free pass in this documentary. I kinda suspected that, since Barney Frank and Chris Dodd and Chuck Schumer now hold the reins of power more than ever, and someone would lose out if they were crossed by a bunch of TV producers.

[patientrenter]

[quote=UCGal][quote=patientrenter]I missed this show. (I don’t have a TV.) Did they cover the role of Congress and FNMA and FHA and Freddie…? The Congressmen who pushed banks and regulators to shovel more money at housing are riding higher than ever before, and are probably too powerful to be fully exposed.[/quote]

They talked about Fannie and Freddie – but also pointed out that the real escalation of all this came when mortgages were bundled on wall street as MBSs and CDOs. Subprime, alt-a, etc. (Vs the GSE mortgages). I got the impression that having wallstreet willing to buy every mortgage made to securitize it and sell it was more a factor than fanny and freddie.

But maybe I misunderstood.
[/quote]

Thanks, UCGal. Sounds like Congress got a free pass in this documentary. I kinda suspected that, since Barney Frank and Chris Dodd and Chuck Schumer now hold the reins of power more than ever, and someone would lose out if they were crossed by a bunch of TV producers.

[patientrenter]

[quote=UCGal][quote=patientrenter]I missed this show. (I don’t have a TV.) Did they cover the role of Congress and FNMA and FHA and Freddie…? The Congressmen who pushed banks and regulators to shovel more money at housing are riding higher than ever before, and are probably too powerful to be fully exposed.[/quote]

They talked about Fannie and Freddie – but also pointed out that the real escalation of all this came when mortgages were bundled on wall street as MBSs and CDOs. Subprime, alt-a, etc. (Vs the GSE mortgages). I got the impression that having wallstreet willing to buy every mortgage made to securitize it and sell it was more a factor than fanny and freddie.

But maybe I misunderstood.
[/quote]

Thanks, UCGal. Sounds like Congress got a free pass in this documentary. I kinda suspected that, since Barney Frank and Chris Dodd and Chuck Schumer now hold the reins of power more than ever, and someone would lose out if they were crossed by a bunch of TV producers.

[patientrenter]

[quote=UCGal][quote=patientrenter]I missed this show. (I don’t have a TV.) Did they cover the role of Congress and FNMA and FHA and Freddie…? The Congressmen who pushed banks and regulators to shovel more money at housing are riding higher than ever before, and are probably too powerful to be fully exposed.[/quote]

They talked about Fannie and Freddie – but also pointed out that the real escalation of all this came when mortgages were bundled on wall street as MBSs and CDOs. Subprime, alt-a, etc. (Vs the GSE mortgages). I got the impression that having wallstreet willing to buy every mortgage made to securitize it and sell it was more a factor than fanny and freddie.

But maybe I misunderstood.
[/quote]

Thanks, UCGal. Sounds like Congress got a free pass in this documentary. I kinda suspected that, since Barney Frank and Chris Dodd and Chuck Schumer now hold the reins of power more than ever, and someone would lose out if they were crossed by a bunch of TV producers.

[jpinpb]

Federal Loan Modification was one of the advertisers.

Greenspan said he was bewildered by CDOs

[jpinpb]

Federal Loan Modification was one of the advertisers.

Greenspan said he was bewildered by CDOs

[jpinpb]

Federal Loan Modification was one of the advertisers.

Greenspan said he was bewildered by CDOs

[jpinpb]

Federal Loan Modification was one of the advertisers.

Greenspan said he was bewildered by CDOs

[jpinpb]

Federal Loan Modification was one of the advertisers.

Greenspan said he was bewildered by CDOs

[CA renter]

The GSEs were under scrutiny back in 2003/2004. They actually pulled back and did NOT engage in the riskiest types of mortgages until the govt forced them into it in the 2006/2007 era.

Bethany McLean did a good job covering this in this Vanity Fair Article:

http://www.vanityfair.com/politics/features/2009/02/fannie-and-freddie200902

[CA renter]

The GSEs were under scrutiny back in 2003/2004. They actually pulled back and did NOT engage in the riskiest types of mortgages until the govt forced them into it in the 2006/2007 era.

Bethany McLean did a good job covering this in this Vanity Fair Article:

http://www.vanityfair.com/politics/features/2009/02/fannie-and-freddie200902

[CA renter]

The GSEs were under scrutiny back in 2003/2004. They actually pulled back and did NOT engage in the riskiest types of mortgages until the govt forced them into it in the 2006/2007 era.

Bethany McLean did a good job covering this in this Vanity Fair Article:

http://www.vanityfair.com/politics/features/2009/02/fannie-and-freddie200902

[CA renter]

The GSEs were under scrutiny back in 2003/2004. They actually pulled back and did NOT engage in the riskiest types of mortgages until the govt forced them into it in the 2006/2007 era.

Bethany McLean did a good job covering this in this Vanity Fair Article:

http://www.vanityfair.com/politics/features/2009/02/fannie-and-freddie200902

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