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markmax33.
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August 20, 2011 at 12:45 PM #723003August 20, 2011 at 1:43 PM #721809
briansd1
GuestI agree that there is ever-present systemic self-preservation, enhancement and promotion. That’s how even the strongest of institutions over-reach and corrode over time.
I’m sure that Greenspan, the academics, policy makers, and financial masters who designed all the financial products thought those were great innovations. At least the big-picture executives thought that financial alchemy would elminate risk.
In fact, they believed that financial innnovations would bring great riches to us so we didn’t need to worry about dirty thing such as manufacturing. Let other people furnish goods to us and, in exchange, we give them financial paper. That was a deal too good to pass up.
At the lower level of the production chain, we had people hustling and selling because they were being paid handsome commissions. They were not being held responsible for the quality of underwriting.
I however don’t believe for a minute that there was a conspiracy or plan with handlers executing the details every step along the way.
Unfortunately for us, financial alchemy did not eliminate risk. The risk got concentrated but they did not show up on the financial statements. This was a case of innovation moving faster than our ability to understand and manage it.
August 20, 2011 at 1:43 PM #721903briansd1
GuestI agree that there is ever-present systemic self-preservation, enhancement and promotion. That’s how even the strongest of institutions over-reach and corrode over time.
I’m sure that Greenspan, the academics, policy makers, and financial masters who designed all the financial products thought those were great innovations. At least the big-picture executives thought that financial alchemy would elminate risk.
In fact, they believed that financial innnovations would bring great riches to us so we didn’t need to worry about dirty thing such as manufacturing. Let other people furnish goods to us and, in exchange, we give them financial paper. That was a deal too good to pass up.
At the lower level of the production chain, we had people hustling and selling because they were being paid handsome commissions. They were not being held responsible for the quality of underwriting.
I however don’t believe for a minute that there was a conspiracy or plan with handlers executing the details every step along the way.
Unfortunately for us, financial alchemy did not eliminate risk. The risk got concentrated but they did not show up on the financial statements. This was a case of innovation moving faster than our ability to understand and manage it.
August 20, 2011 at 1:43 PM #722502briansd1
GuestI agree that there is ever-present systemic self-preservation, enhancement and promotion. That’s how even the strongest of institutions over-reach and corrode over time.
I’m sure that Greenspan, the academics, policy makers, and financial masters who designed all the financial products thought those were great innovations. At least the big-picture executives thought that financial alchemy would elminate risk.
In fact, they believed that financial innnovations would bring great riches to us so we didn’t need to worry about dirty thing such as manufacturing. Let other people furnish goods to us and, in exchange, we give them financial paper. That was a deal too good to pass up.
At the lower level of the production chain, we had people hustling and selling because they were being paid handsome commissions. They were not being held responsible for the quality of underwriting.
I however don’t believe for a minute that there was a conspiracy or plan with handlers executing the details every step along the way.
Unfortunately for us, financial alchemy did not eliminate risk. The risk got concentrated but they did not show up on the financial statements. This was a case of innovation moving faster than our ability to understand and manage it.
August 20, 2011 at 1:43 PM #722658briansd1
GuestI agree that there is ever-present systemic self-preservation, enhancement and promotion. That’s how even the strongest of institutions over-reach and corrode over time.
I’m sure that Greenspan, the academics, policy makers, and financial masters who designed all the financial products thought those were great innovations. At least the big-picture executives thought that financial alchemy would elminate risk.
In fact, they believed that financial innnovations would bring great riches to us so we didn’t need to worry about dirty thing such as manufacturing. Let other people furnish goods to us and, in exchange, we give them financial paper. That was a deal too good to pass up.
At the lower level of the production chain, we had people hustling and selling because they were being paid handsome commissions. They were not being held responsible for the quality of underwriting.
I however don’t believe for a minute that there was a conspiracy or plan with handlers executing the details every step along the way.
Unfortunately for us, financial alchemy did not eliminate risk. The risk got concentrated but they did not show up on the financial statements. This was a case of innovation moving faster than our ability to understand and manage it.
August 20, 2011 at 1:43 PM #723023briansd1
GuestI agree that there is ever-present systemic self-preservation, enhancement and promotion. That’s how even the strongest of institutions over-reach and corrode over time.
I’m sure that Greenspan, the academics, policy makers, and financial masters who designed all the financial products thought those were great innovations. At least the big-picture executives thought that financial alchemy would elminate risk.
In fact, they believed that financial innnovations would bring great riches to us so we didn’t need to worry about dirty thing such as manufacturing. Let other people furnish goods to us and, in exchange, we give them financial paper. That was a deal too good to pass up.
At the lower level of the production chain, we had people hustling and selling because they were being paid handsome commissions. They were not being held responsible for the quality of underwriting.
I however don’t believe for a minute that there was a conspiracy or plan with handlers executing the details every step along the way.
Unfortunately for us, financial alchemy did not eliminate risk. The risk got concentrated but they did not show up on the financial statements. This was a case of innovation moving faster than our ability to understand and manage it.
August 20, 2011 at 2:04 PM #721819Arraya
Participant[quote=briansd1]
I however don’t believe for a minute that there was a conspiracy or plan with handlers executing the details every step along the way.
.[/quote]
You don’t need to handle it – its self-perpetuating once set into motion. Once you understand the socioeconomic phenomena of a bubble and how the system will act – you just need to set it into motion and everybody will do their part. Maybe a little arm twisting at ratings agencies. But pretty much all you have to do is set the stage. We’ve been having bubbles for a thousand years and they are very very well understood.
It’s apparent it was known buy the tops of the industry in 2006 when officials were denying it. Actually emails came out where low level MBS traders were laughing at how it was all going to blow up from 2006.
If we did not have the wars and the bubble the US would have been in depression in 2001-2002 because they country had been gutted from 30 years of polices.
Interestingly the Feds mandate is to protect from bubbles. Which Bernanke and Greenspan were denying in 2006. So you trust Bernanke why, brian? He either does not know what he is doing or is a liar?
August 20, 2011 at 2:04 PM #721913Arraya
Participant[quote=briansd1]
I however don’t believe for a minute that there was a conspiracy or plan with handlers executing the details every step along the way.
.[/quote]
You don’t need to handle it – its self-perpetuating once set into motion. Once you understand the socioeconomic phenomena of a bubble and how the system will act – you just need to set it into motion and everybody will do their part. Maybe a little arm twisting at ratings agencies. But pretty much all you have to do is set the stage. We’ve been having bubbles for a thousand years and they are very very well understood.
It’s apparent it was known buy the tops of the industry in 2006 when officials were denying it. Actually emails came out where low level MBS traders were laughing at how it was all going to blow up from 2006.
If we did not have the wars and the bubble the US would have been in depression in 2001-2002 because they country had been gutted from 30 years of polices.
Interestingly the Feds mandate is to protect from bubbles. Which Bernanke and Greenspan were denying in 2006. So you trust Bernanke why, brian? He either does not know what he is doing or is a liar?
August 20, 2011 at 2:04 PM #722512Arraya
Participant[quote=briansd1]
I however don’t believe for a minute that there was a conspiracy or plan with handlers executing the details every step along the way.
.[/quote]
You don’t need to handle it – its self-perpetuating once set into motion. Once you understand the socioeconomic phenomena of a bubble and how the system will act – you just need to set it into motion and everybody will do their part. Maybe a little arm twisting at ratings agencies. But pretty much all you have to do is set the stage. We’ve been having bubbles for a thousand years and they are very very well understood.
It’s apparent it was known buy the tops of the industry in 2006 when officials were denying it. Actually emails came out where low level MBS traders were laughing at how it was all going to blow up from 2006.
If we did not have the wars and the bubble the US would have been in depression in 2001-2002 because they country had been gutted from 30 years of polices.
Interestingly the Feds mandate is to protect from bubbles. Which Bernanke and Greenspan were denying in 2006. So you trust Bernanke why, brian? He either does not know what he is doing or is a liar?
August 20, 2011 at 2:04 PM #722668Arraya
Participant[quote=briansd1]
I however don’t believe for a minute that there was a conspiracy or plan with handlers executing the details every step along the way.
.[/quote]
You don’t need to handle it – its self-perpetuating once set into motion. Once you understand the socioeconomic phenomena of a bubble and how the system will act – you just need to set it into motion and everybody will do their part. Maybe a little arm twisting at ratings agencies. But pretty much all you have to do is set the stage. We’ve been having bubbles for a thousand years and they are very very well understood.
It’s apparent it was known buy the tops of the industry in 2006 when officials were denying it. Actually emails came out where low level MBS traders were laughing at how it was all going to blow up from 2006.
If we did not have the wars and the bubble the US would have been in depression in 2001-2002 because they country had been gutted from 30 years of polices.
Interestingly the Feds mandate is to protect from bubbles. Which Bernanke and Greenspan were denying in 2006. So you trust Bernanke why, brian? He either does not know what he is doing or is a liar?
August 20, 2011 at 2:04 PM #723033Arraya
Participant[quote=briansd1]
I however don’t believe for a minute that there was a conspiracy or plan with handlers executing the details every step along the way.
.[/quote]
You don’t need to handle it – its self-perpetuating once set into motion. Once you understand the socioeconomic phenomena of a bubble and how the system will act – you just need to set it into motion and everybody will do their part. Maybe a little arm twisting at ratings agencies. But pretty much all you have to do is set the stage. We’ve been having bubbles for a thousand years and they are very very well understood.
It’s apparent it was known buy the tops of the industry in 2006 when officials were denying it. Actually emails came out where low level MBS traders were laughing at how it was all going to blow up from 2006.
If we did not have the wars and the bubble the US would have been in depression in 2001-2002 because they country had been gutted from 30 years of polices.
Interestingly the Feds mandate is to protect from bubbles. Which Bernanke and Greenspan were denying in 2006. So you trust Bernanke why, brian? He either does not know what he is doing or is a liar?
August 20, 2011 at 2:08 PM #721824Arraya
ParticipantSpeaking of conspiracy theorizing. This is what Cass Sustein thinks should be done to control it.
Sunstein advocates that the Government’s stealth infiltration should be accomplished by sending covert agents into “chat rooms, online social networks, or even real-space groups.” He also proposes that the Government make secret payments to so-called “independent” credible voices to bolster the Government’s messaging (on the ground that those who don’t believe government sources will be more inclined to listen to those who appear independent while secretly acting on behalf of the Government). ”
haha
August 20, 2011 at 2:08 PM #721918Arraya
ParticipantSpeaking of conspiracy theorizing. This is what Cass Sustein thinks should be done to control it.
Sunstein advocates that the Government’s stealth infiltration should be accomplished by sending covert agents into “chat rooms, online social networks, or even real-space groups.” He also proposes that the Government make secret payments to so-called “independent” credible voices to bolster the Government’s messaging (on the ground that those who don’t believe government sources will be more inclined to listen to those who appear independent while secretly acting on behalf of the Government). ”
haha
August 20, 2011 at 2:08 PM #722517Arraya
ParticipantSpeaking of conspiracy theorizing. This is what Cass Sustein thinks should be done to control it.
Sunstein advocates that the Government’s stealth infiltration should be accomplished by sending covert agents into “chat rooms, online social networks, or even real-space groups.” He also proposes that the Government make secret payments to so-called “independent” credible voices to bolster the Government’s messaging (on the ground that those who don’t believe government sources will be more inclined to listen to those who appear independent while secretly acting on behalf of the Government). ”
haha
August 20, 2011 at 2:08 PM #722673Arraya
ParticipantSpeaking of conspiracy theorizing. This is what Cass Sustein thinks should be done to control it.
Sunstein advocates that the Government’s stealth infiltration should be accomplished by sending covert agents into “chat rooms, online social networks, or even real-space groups.” He also proposes that the Government make secret payments to so-called “independent” credible voices to bolster the Government’s messaging (on the ground that those who don’t believe government sources will be more inclined to listen to those who appear independent while secretly acting on behalf of the Government). ”
haha
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