HOUSE OF CARDS on CNBC tonight Thurs Feb 12th

[thebazman]

Excellent documentary. A little on the dramatic side, of course, as many major news network programs are slanted, to be expected. But it really did explain the whole mess to me.

What I gathered was that the whole CDO /subprime mortgage movement had gained so much momentum that each individual player did not want to “pull the plug” for fear of harming his or her own self-interest (financially) or be responsible for the immediate collapse of the economy. Even Alan Greenspan admitted he could have raised interest rates to discourage people from borrowing, but that in turn would start a chain reaction, sending the economy into a recession.

As it turns out, the whole “house of cards” collapsed anyway, so the end result was the same, just delayed. Maybe if someone had stepped in sooner the total number of people affected would have been less?

Also, did anyone catch the part at the end where one of the people on the show mentioned that this whole debacle would inevitably happen again in the future because of the inherent self-interest nature of humanity? Pretty scary but true!

[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.

[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.

[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.

[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.

[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.

[jpinpb]

SHOW TIMES
Saturday, February 14th 7p | 10p ET
Sunday, February 15th 9p ET
Monday, February 16th 8p | 12a ET
Sunday, March 1st Midnight ET
Sunday, March 15th 9p ET

[jpinpb]

SHOW TIMES
Saturday, February 14th 7p | 10p ET
Sunday, February 15th 9p ET
Monday, February 16th 8p | 12a ET
Sunday, March 1st Midnight ET
Sunday, March 15th 9p ET

[jpinpb]

SHOW TIMES
Saturday, February 14th 7p | 10p ET
Sunday, February 15th 9p ET
Monday, February 16th 8p | 12a ET
Sunday, March 1st Midnight ET
Sunday, March 15th 9p ET

[jpinpb]

SHOW TIMES
Saturday, February 14th 7p | 10p ET
Sunday, February 15th 9p ET
Monday, February 16th 8p | 12a ET
Sunday, March 1st Midnight ET
Sunday, March 15th 9p ET

[jpinpb]

SHOW TIMES
Saturday, February 14th 7p | 10p ET
Sunday, February 15th 9p ET
Monday, February 16th 8p | 12a ET
Sunday, March 1st Midnight ET
Sunday, March 15th 9p ET

[jpinpb]

[quote=thebazman]As it turns out, the whole “house of cards” collapsed anyway, so the end result was the same, just delayed. Maybe if someone had stepped in sooner the total number of people affected would have been less?
[/quote]

All they’re doing now is the same thing, delaying and procrastinating the inevitable. No one wants the disasterous consequences on their watch.

[jpinpb]

[quote=thebazman]As it turns out, the whole “house of cards” collapsed anyway, so the end result was the same, just delayed. Maybe if someone had stepped in sooner the total number of people affected would have been less?
[/quote]

All they’re doing now is the same thing, delaying and procrastinating the inevitable. No one wants the disasterous consequences on their watch.

[jpinpb]

[quote=thebazman]As it turns out, the whole “house of cards” collapsed anyway, so the end result was the same, just delayed. Maybe if someone had stepped in sooner the total number of people affected would have been less?
[/quote]

All they’re doing now is the same thing, delaying and procrastinating the inevitable. No one wants the disasterous consequences on their watch.

[jpinpb]

[quote=thebazman]As it turns out, the whole “house of cards” collapsed anyway, so the end result was the same, just delayed. Maybe if someone had stepped in sooner the total number of people affected would have been less?
[/quote]

All they’re doing now is the same thing, delaying and procrastinating the inevitable. No one wants the disasterous consequences on their watch.

[Author]

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