Forum Replies Created
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CA renter
ParticipantThe coastal California – LA, SD, SF has not declined too much.
————————I can show you many parts of SD and LA that have already seen 50%+ declines. What we are seeing is the result of the credit bubble collapsing (as it should). If prices went up as a result of the credit bubble, they will fall just the same. The only difference is the timing.
CA renter
ParticipantThe coastal California – LA, SD, SF has not declined too much.
————————I can show you many parts of SD and LA that have already seen 50%+ declines. What we are seeing is the result of the credit bubble collapsing (as it should). If prices went up as a result of the credit bubble, they will fall just the same. The only difference is the timing.
CA renter
ParticipantThe coastal California – LA, SD, SF has not declined too much.
————————I can show you many parts of SD and LA that have already seen 50%+ declines. What we are seeing is the result of the credit bubble collapsing (as it should). If prices went up as a result of the credit bubble, they will fall just the same. The only difference is the timing.
CA renter
ParticipantThe coastal California – LA, SD, SF has not declined too much.
————————I can show you many parts of SD and LA that have already seen 50%+ declines. What we are seeing is the result of the credit bubble collapsing (as it should). If prices went up as a result of the credit bubble, they will fall just the same. The only difference is the timing.
CA renter
ParticipantThe coastal California – LA, SD, SF has not declined too much.
————————I can show you many parts of SD and LA that have already seen 50%+ declines. What we are seeing is the result of the credit bubble collapsing (as it should). If prices went up as a result of the credit bubble, they will fall just the same. The only difference is the timing.
September 18, 2008 at 1:26 AM in reply to: Dick Fuld sends email from spiderhole/ Who is to blame for this mess? #271915CA renter
ParticipantIMO, many parties are complicit, but the main villain is Greenspan.
Over the years, he encouraged extreme risk-taking by bailing everyone out after each crash or negative financial event.
What we see today — the taxpayers’ on the hook for the risk that enabled Wall Street to have record profits — is a direct result of Greenspan’s policies.
Additionally, Greenspan sought to fight deflation at every turn, which kept the market from experiencing the necessary cleansing that keeps growth in check and minimizes misallocation of resources and gross financial distortions (bubbles).
He could have lowered rates (though did not need to) back in 2001-2003 but added a cautionary note with regard to bubble excesses. He could have honestly noted the parabolic move in the credit markets and warned everyone about the potential for a housing bubble. He could also have mentioned that it was STUPID for people to use adjustable-rate mortgages when rates were at multi-decade lows. He could have encouraged regulations that would have prevented the most egregious types of mortgages from ever coming to market.
He is the captain of this sinking ship, but saw what was happening so he “retired” and left his $h!t for someone else (Bernanke) to clean up.
I have a notion he is NOT stupid and this did NOT happen by accident. Lots of money was made by people who are long gone and sitting on an island or yacht right now.
September 18, 2008 at 1:26 AM in reply to: Dick Fuld sends email from spiderhole/ Who is to blame for this mess? #272154CA renter
ParticipantIMO, many parties are complicit, but the main villain is Greenspan.
Over the years, he encouraged extreme risk-taking by bailing everyone out after each crash or negative financial event.
What we see today — the taxpayers’ on the hook for the risk that enabled Wall Street to have record profits — is a direct result of Greenspan’s policies.
Additionally, Greenspan sought to fight deflation at every turn, which kept the market from experiencing the necessary cleansing that keeps growth in check and minimizes misallocation of resources and gross financial distortions (bubbles).
He could have lowered rates (though did not need to) back in 2001-2003 but added a cautionary note with regard to bubble excesses. He could have honestly noted the parabolic move in the credit markets and warned everyone about the potential for a housing bubble. He could also have mentioned that it was STUPID for people to use adjustable-rate mortgages when rates were at multi-decade lows. He could have encouraged regulations that would have prevented the most egregious types of mortgages from ever coming to market.
He is the captain of this sinking ship, but saw what was happening so he “retired” and left his $h!t for someone else (Bernanke) to clean up.
I have a notion he is NOT stupid and this did NOT happen by accident. Lots of money was made by people who are long gone and sitting on an island or yacht right now.
September 18, 2008 at 1:26 AM in reply to: Dick Fuld sends email from spiderhole/ Who is to blame for this mess? #272162CA renter
ParticipantIMO, many parties are complicit, but the main villain is Greenspan.
Over the years, he encouraged extreme risk-taking by bailing everyone out after each crash or negative financial event.
What we see today — the taxpayers’ on the hook for the risk that enabled Wall Street to have record profits — is a direct result of Greenspan’s policies.
Additionally, Greenspan sought to fight deflation at every turn, which kept the market from experiencing the necessary cleansing that keeps growth in check and minimizes misallocation of resources and gross financial distortions (bubbles).
He could have lowered rates (though did not need to) back in 2001-2003 but added a cautionary note with regard to bubble excesses. He could have honestly noted the parabolic move in the credit markets and warned everyone about the potential for a housing bubble. He could also have mentioned that it was STUPID for people to use adjustable-rate mortgages when rates were at multi-decade lows. He could have encouraged regulations that would have prevented the most egregious types of mortgages from ever coming to market.
He is the captain of this sinking ship, but saw what was happening so he “retired” and left his $h!t for someone else (Bernanke) to clean up.
I have a notion he is NOT stupid and this did NOT happen by accident. Lots of money was made by people who are long gone and sitting on an island or yacht right now.
September 18, 2008 at 1:26 AM in reply to: Dick Fuld sends email from spiderhole/ Who is to blame for this mess? #272203CA renter
ParticipantIMO, many parties are complicit, but the main villain is Greenspan.
Over the years, he encouraged extreme risk-taking by bailing everyone out after each crash or negative financial event.
What we see today — the taxpayers’ on the hook for the risk that enabled Wall Street to have record profits — is a direct result of Greenspan’s policies.
Additionally, Greenspan sought to fight deflation at every turn, which kept the market from experiencing the necessary cleansing that keeps growth in check and minimizes misallocation of resources and gross financial distortions (bubbles).
He could have lowered rates (though did not need to) back in 2001-2003 but added a cautionary note with regard to bubble excesses. He could have honestly noted the parabolic move in the credit markets and warned everyone about the potential for a housing bubble. He could also have mentioned that it was STUPID for people to use adjustable-rate mortgages when rates were at multi-decade lows. He could have encouraged regulations that would have prevented the most egregious types of mortgages from ever coming to market.
He is the captain of this sinking ship, but saw what was happening so he “retired” and left his $h!t for someone else (Bernanke) to clean up.
I have a notion he is NOT stupid and this did NOT happen by accident. Lots of money was made by people who are long gone and sitting on an island or yacht right now.
September 18, 2008 at 1:26 AM in reply to: Dick Fuld sends email from spiderhole/ Who is to blame for this mess? #272226CA renter
ParticipantIMO, many parties are complicit, but the main villain is Greenspan.
Over the years, he encouraged extreme risk-taking by bailing everyone out after each crash or negative financial event.
What we see today — the taxpayers’ on the hook for the risk that enabled Wall Street to have record profits — is a direct result of Greenspan’s policies.
Additionally, Greenspan sought to fight deflation at every turn, which kept the market from experiencing the necessary cleansing that keeps growth in check and minimizes misallocation of resources and gross financial distortions (bubbles).
He could have lowered rates (though did not need to) back in 2001-2003 but added a cautionary note with regard to bubble excesses. He could have honestly noted the parabolic move in the credit markets and warned everyone about the potential for a housing bubble. He could also have mentioned that it was STUPID for people to use adjustable-rate mortgages when rates were at multi-decade lows. He could have encouraged regulations that would have prevented the most egregious types of mortgages from ever coming to market.
He is the captain of this sinking ship, but saw what was happening so he “retired” and left his $h!t for someone else (Bernanke) to clean up.
I have a notion he is NOT stupid and this did NOT happen by accident. Lots of money was made by people who are long gone and sitting on an island or yacht right now.
CA renter
ParticipantSame experience here, none of the people who argued with me (some big disagreements, too) have admitted to my being right.
The people who were more neutral (“it could happen” – types) have admitted that things are going down exactly like I said…but those people are few and far between.
CA renter
ParticipantSame experience here, none of the people who argued with me (some big disagreements, too) have admitted to my being right.
The people who were more neutral (“it could happen” – types) have admitted that things are going down exactly like I said…but those people are few and far between.
CA renter
ParticipantSame experience here, none of the people who argued with me (some big disagreements, too) have admitted to my being right.
The people who were more neutral (“it could happen” – types) have admitted that things are going down exactly like I said…but those people are few and far between.
CA renter
ParticipantSame experience here, none of the people who argued with me (some big disagreements, too) have admitted to my being right.
The people who were more neutral (“it could happen” – types) have admitted that things are going down exactly like I said…but those people are few and far between.
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