http://www.businessinsider.com/matt-taibbi-on-justice-deparment-decision-not-to-prosecute-goldman-sachs-2012-8#comment-502c458769beddad0f00001d Romney is worse than Obama but they are both crappy. Geithner is screwing America with the lack of prosecutions of the banksters. He was NY Fed chairman and acts on behalf of the Fed and central banksters, not on behalf of America.
Matt Taibbi On Justice Department Decision Not To Prosecute Goldman Sachs
By bgamall4 Follow Wed, 15 Aug 2012, 6:22pm 416 views 5 comments
In Reno NV 89502
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bgamall4 says
Seems to me that people who talk about prosecuting GS typically are the ones who completely believed during the bubble and still continue believe that home prices can and do disconnect from both incomes and inflation.
It should have been clear to many in CA (and Reno) the public went APE SHIT over buying real estate. if not just one, buy two houses.. but why stop there.. lets go for 3.
They lost their shirt and want their 10 pounds of flesh from someone! So blame the banks!
Who are you gonna blame next ?
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thomaswong.1986 says
Thomas, Dean Baker proved that house prices disconnect from wealth and income all the time. Australia and Canada have income bases similar to the US. Australia has values at 225 percent of US values. It is a bubble waiting to pop!
The banks are always, always at fault for ALL housing bubbles. You know better.
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bgamall4 says
no not the banks... its the realtors! creating fake/dummy bidding!
Dummy Bidding (australia)
http://www.jenman.com.au/news_item.php?id=8
The NSW government is proposing a "bidders' register", similar to that proposed in Queensland earlier this year. But that proposal was quashed by the real estate industry.
The secret's out on phantom bids (Canada)
http://www.thestar.com/news/gta/article/256968--the-secret-s-out-on-phantom-bids
The incoming head of the Toronto Real Estate Board has come out swinging against phantom bidding tactics after denying they even existed when she ran for the job three months ago.
"It's dirty realty, it really is," Maureen O'Neill said of agents who fabricate offers during bidding wars. She is now calling on the Real Estate Council of Ontario (RECO) to yank the licences of agents convicted of using phony bids.
"Boot them out, we don't need them in the business," O'Neill said. "I don't think these people should be allowed to sell real estate."
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bgamall4 says
once again you are deflecting from the real issue and real solutions!
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thomaswong.1986 says
That is ridiculous. Without the loans in place to create demand it won't happen. What happened in the housing bubble is that the banks flooded the world with easy money. There was so much easy money that it created a false demand as there was massive churn. Unlike the churn of stocks which pushes up stock prices, it was done by main street but PUT IN PLACE BY WALL STREET.
It is amazing that as long as you have been on this site you don't understand this.