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Proof that the Basel 2 set up the housing ponzi scam. Who is responsible for buying too much house?
2010 Oct 20, 5:53am 1,967 views 3 comments
by GaryA follow (0)
Comments 1 - 3 of 3 Search these comments
GaryA
2010 Oct 20, 12:06pm
Come on guys, this is a valuable piece of work if you really want to assign correct blame for the crisis.
GaryA
2010 Oct 21, 4:20am
Come on guys, this is a valuable piece of work if you really want to assign correct blame for the crisis.
Wing nut fodder.
You appear to be obsessed with the Tea Party. Luckily, the right wing nuts are as inconsequential as the left wing nuts; nobody takes them seriously.
GaryA = RayAmerica = Honest Abe. You are all EXACTLY the same.
But you are diverting from the essential issue, that the housing bubble was a planned scam. you don't say anything about that. Is it because you don't understand or is it because you are trying to divert? Let me know. :)
GaryA
2010 Oct 22, 9:51am
Again, this is a slap into the face of Rick Santelli who knows that the underwriting was taken away. Santelli knows he is a liar for calling underwater borrowers "losers". Santelli is Wall Street.
I wrote an article here with proofs that Basel 2 set up the off balance sheet banking that resulted in the ponzi scam. And I proved that the banks knew what would happen with rampant speculation, ie, prices would go UP.
I also show that buying too much house was the fault of the underwriters, because they historically had the responsibility of making sure people didn't buy too much house. Why did they have that responsibility? Because that was necessary for bank profits. The originate to distribute model destroyed that so borrowers bought too much house because the banksters wanted it that way.
The Tea Party needs to adopt this view because it is the correct one.
#housing