[Occams Realtor]

We just bought a 3br/3bath, 1550 sq.ft. house. It feels huge after renting one bedroom apartments forever. There are two of us adults and a cat (who doesn’t pee outside the box). We hope to have a baby soon and I think it will be a good size for all of us. There is also a nice little backyard with some grass.. that helps.

[Occams Realtor]

We just bought a 3br/3bath, 1550 sq.ft. house. It feels huge after renting one bedroom apartments forever. There are two of us adults and a cat (who doesn’t pee outside the box). We hope to have a baby soon and I think it will be a good size for all of us. There is also a nice little backyard with some grass.. that helps.

[Occams Realtor]

We just bought a 3br/3bath, 1550 sq.ft. house. It feels huge after renting one bedroom apartments forever. There are two of us adults and a cat (who doesn’t pee outside the box). We hope to have a baby soon and I think it will be a good size for all of us. There is also a nice little backyard with some grass.. that helps.

[Occams Realtor]

We just bought a 3br/3bath, 1550 sq.ft. house. It feels huge after renting one bedroom apartments forever. There are two of us adults and a cat (who doesn’t pee outside the box). We hope to have a baby soon and I think it will be a good size for all of us. There is also a nice little backyard with some grass.. that helps.

[Occams Realtor]

We just bought a 3br/3bath, 1550 sq.ft. house. It feels huge after renting one bedroom apartments forever. There are two of us adults and a cat (who doesn’t pee outside the box). We hope to have a baby soon and I think it will be a good size for all of us. There is also a nice little backyard with some grass.. that helps.

[Occams Realtor]

EconProf,

I also worry about crowd psychology in the current economic situation. Although this same crowd psychology caused hoarding during the great depression, I see a new component that could speed the process significantly and that is information technology. There are many news sources where stocks can be seen decreasing precipitously, during which commentators or journalists reiterate just how precipitous a drop might be (internet, TV). I imagine during the 1930’s people got their information from newspapers, radio and word of mouth; a much slower process. I wonder if Bernanke is considering this accelerated transfer of information in the timeline for a modern day economic depression.

[Occams Realtor]

EconProf,

I also worry about crowd psychology in the current economic situation. Although this same crowd psychology caused hoarding during the great depression, I see a new component that could speed the process significantly and that is information technology. There are many news sources where stocks can be seen decreasing precipitously, during which commentators or journalists reiterate just how precipitous a drop might be (internet, TV). I imagine during the 1930’s people got their information from newspapers, radio and word of mouth; a much slower process. I wonder if Bernanke is considering this accelerated transfer of information in the timeline for a modern day economic depression.

[Occams Realtor]

EconProf,

I also worry about crowd psychology in the current economic situation. Although this same crowd psychology caused hoarding during the great depression, I see a new component that could speed the process significantly and that is information technology. There are many news sources where stocks can be seen decreasing precipitously, during which commentators or journalists reiterate just how precipitous a drop might be (internet, TV). I imagine during the 1930’s people got their information from newspapers, radio and word of mouth; a much slower process. I wonder if Bernanke is considering this accelerated transfer of information in the timeline for a modern day economic depression.

[Occams Realtor]

EconProf,

I also worry about crowd psychology in the current economic situation. Although this same crowd psychology caused hoarding during the great depression, I see a new component that could speed the process significantly and that is information technology. There are many news sources where stocks can be seen decreasing precipitously, during which commentators or journalists reiterate just how precipitous a drop might be (internet, TV). I imagine during the 1930’s people got their information from newspapers, radio and word of mouth; a much slower process. I wonder if Bernanke is considering this accelerated transfer of information in the timeline for a modern day economic depression.

[Occams Realtor]

EconProf,

I also worry about crowd psychology in the current economic situation. Although this same crowd psychology caused hoarding during the great depression, I see a new component that could speed the process significantly and that is information technology. There are many news sources where stocks can be seen decreasing precipitously, during which commentators or journalists reiterate just how precipitous a drop might be (internet, TV). I imagine during the 1930’s people got their information from newspapers, radio and word of mouth; a much slower process. I wonder if Bernanke is considering this accelerated transfer of information in the timeline for a modern day economic depression.

[Occams Realtor]

[quote=Wickedheart]Basically none of this could have happened without the repeal of the Glass-Steagal Act which separated Commercial Banks from investment banking. So here’s my list:

1) Citibank who has spent the last 30 years trying to repeal the Glass-Steagal Act. In 1998 Citi was trying to merger with Travellers which was illegal under the Glass-Steagall Act. The merger was approved in 1998. Which was by the way illegal since the repeal of Glass-Steagal didn’t happen until Nov of 1999.

2) Senator Phil Gramm (R), the guy who just recently called americans a bunch of whiners. Actually Phil should be numero uno, considering his role in this mess.

3)Senators Leach and Biley (R)
The Gramm-Leach-Biley Act

All of the above were responsible for the repeal of the Glass-Steagall Act.

[/quote]

WickedHeart,

Your post made me look further into the Glass-Steagall Act:

http://www.investopedia.com/articles/03/071603.asp

This appeared to be set up to avoid exactly what is happening with the economy. Eventhough I am no financial expert, it is astounding I have not heard of this in the mainstream media recently. Maybe we are still in damage control mode and now is not the time to ask “why?” I heard a good analogy on cnbc stating “don’t discipline the child right after they have run through a glass door. First make sure they are going to survive.”

[Occams Realtor]

[quote=Wickedheart]Basically none of this could have happened without the repeal of the Glass-Steagal Act which separated Commercial Banks from investment banking. So here’s my list:

1) Citibank who has spent the last 30 years trying to repeal the Glass-Steagal Act. In 1998 Citi was trying to merger with Travellers which was illegal under the Glass-Steagall Act. The merger was approved in 1998. Which was by the way illegal since the repeal of Glass-Steagal didn’t happen until Nov of 1999.

2) Senator Phil Gramm (R), the guy who just recently called americans a bunch of whiners. Actually Phil should be numero uno, considering his role in this mess.

3)Senators Leach and Biley (R)
The Gramm-Leach-Biley Act

All of the above were responsible for the repeal of the Glass-Steagall Act.

[/quote]

WickedHeart,

Your post made me look further into the Glass-Steagall Act:

http://www.investopedia.com/articles/03/071603.asp

This appeared to be set up to avoid exactly what is happening with the economy. Eventhough I am no financial expert, it is astounding I have not heard of this in the mainstream media recently. Maybe we are still in damage control mode and now is not the time to ask “why?” I heard a good analogy on cnbc stating “don’t discipline the child right after they have run through a glass door. First make sure they are going to survive.”

[Occams Realtor]

[quote=Wickedheart]Basically none of this could have happened without the repeal of the Glass-Steagal Act which separated Commercial Banks from investment banking. So here’s my list:

1) Citibank who has spent the last 30 years trying to repeal the Glass-Steagal Act. In 1998 Citi was trying to merger with Travellers which was illegal under the Glass-Steagall Act. The merger was approved in 1998. Which was by the way illegal since the repeal of Glass-Steagal didn’t happen until Nov of 1999.

2) Senator Phil Gramm (R), the guy who just recently called americans a bunch of whiners. Actually Phil should be numero uno, considering his role in this mess.

3)Senators Leach and Biley (R)
The Gramm-Leach-Biley Act

All of the above were responsible for the repeal of the Glass-Steagall Act.

[/quote]

WickedHeart,

Your post made me look further into the Glass-Steagall Act:

http://www.investopedia.com/articles/03/071603.asp

This appeared to be set up to avoid exactly what is happening with the economy. Eventhough I am no financial expert, it is astounding I have not heard of this in the mainstream media recently. Maybe we are still in damage control mode and now is not the time to ask “why?” I heard a good analogy on cnbc stating “don’t discipline the child right after they have run through a glass door. First make sure they are going to survive.”

[Occams Realtor]

[quote=Wickedheart]Basically none of this could have happened without the repeal of the Glass-Steagal Act which separated Commercial Banks from investment banking. So here’s my list:

1) Citibank who has spent the last 30 years trying to repeal the Glass-Steagal Act. In 1998 Citi was trying to merger with Travellers which was illegal under the Glass-Steagall Act. The merger was approved in 1998. Which was by the way illegal since the repeal of Glass-Steagal didn’t happen until Nov of 1999.

2) Senator Phil Gramm (R), the guy who just recently called americans a bunch of whiners. Actually Phil should be numero uno, considering his role in this mess.

3)Senators Leach and Biley (R)
The Gramm-Leach-Biley Act

All of the above were responsible for the repeal of the Glass-Steagall Act.

[/quote]

WickedHeart,

Your post made me look further into the Glass-Steagall Act:

http://www.investopedia.com/articles/03/071603.asp

This appeared to be set up to avoid exactly what is happening with the economy. Eventhough I am no financial expert, it is astounding I have not heard of this in the mainstream media recently. Maybe we are still in damage control mode and now is not the time to ask “why?” I heard a good analogy on cnbc stating “don’t discipline the child right after they have run through a glass door. First make sure they are going to survive.”

[Occams Realtor]

[quote=Wickedheart]Basically none of this could have happened without the repeal of the Glass-Steagal Act which separated Commercial Banks from investment banking. So here’s my list:

1) Citibank who has spent the last 30 years trying to repeal the Glass-Steagal Act. In 1998 Citi was trying to merger with Travellers which was illegal under the Glass-Steagall Act. The merger was approved in 1998. Which was by the way illegal since the repeal of Glass-Steagal didn’t happen until Nov of 1999.

2) Senator Phil Gramm (R), the guy who just recently called americans a bunch of whiners. Actually Phil should be numero uno, considering his role in this mess.

3)Senators Leach and Biley (R)
The Gramm-Leach-Biley Act

All of the above were responsible for the repeal of the Glass-Steagall Act.

[/quote]

WickedHeart,

Your post made me look further into the Glass-Steagall Act:

http://www.investopedia.com/articles/03/071603.asp

This appeared to be set up to avoid exactly what is happening with the economy. Eventhough I am no financial expert, it is astounding I have not heard of this in the mainstream media recently. Maybe we are still in damage control mode and now is not the time to ask “why?” I heard a good analogy on cnbc stating “don’t discipline the child right after they have run through a glass door. First make sure they are going to survive.”

[Author]

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