patrick.net

Here is the link to the website for the book fragile by design:

http://press.princeton.edu/titles/10177.html

indigenous says

Here is the link to the website for the book fragile by design:

http://press.princeton.edu/titles/10177.html

That's nice, if you've read it then you should be able to lay out your arguments without cutting and pasting the review off a website.

We were talking about the NBER paper cut and paste. A single paragraph with zero context means nothing. Except to you, where if PROVES beyond a doubt.

bob2356 says

That's nice, if you've read it then you should be able to lay out your arguments without cutting and pasting the review off a website.

Bullshit, I'm not that interested to read a book on the banking industry in the world.

I got the gist of it by listening to the podcast, hell 2 minutes covers the main point, from about 20 to 22.

https://www.youtube.com/watch?v=A6ghZDMQaZo

Besides I have laid it out in my own words in the above posts...

There are no feelings about it, just the facts.

Unlike you, I have solidly backed my argument up...

indigenous says

Unlike you, I have solidly backed my argument up...

I'm not even sure you know how to make an argument, much less back it up.

http://research.stlouisfed.org/wp/2012/2012-005.pdf

finehoe says

http://research.stlouisfed.org/wp/2012/2012-005.pdf

Fuck you here is a link with 30 pages of yik yak.

Where they say:

"Although we find evidence that the GSEs bought significant quantities of subprime securities, our
results indicate that these purchases were not directly related to affordable housing mandates"

They are missing the point I'm making in that the standards were raised across the board.

They are also missing the point that the CRA indirectly created more lending to unqualified people across the board, because there was no risk for the bankers, as the government tacitly and by implication of the system, "fragile by design", removed risk by backstopping any such loans.

The reason the banks did this, beside the obvious reason to make more money, was to further grow and centralize banking.