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FortWayne
2011 May 31, 2:20pm
anyone got a link to this video?
http://www.hulu.com/watch/59026/cnbc-originals-house-of-cards
Thanks jvolstad.
FortWayne
2011 May 31, 3:15pm
Good special.
Very accurate. Banks were lending improperly and knew it, gambling with the future. Government was encouraging it since they all were in the same bed making money. Stupid borrowers kept on borrowing money they knew they would never pay back.
It wasn't too long ago, so I still have a clear memory of all the idiots in the neighborhood who didn't even speak English all of a sudden were millionaires and thought they were entitled to everything in the world because they lied on the mortgage application. Which is why I don't care for sob stories from neither banks nor the stupid flippers/buyers. They were all gambling greedy.
Sadly the rates are still artificially low, Fed has not learned a damn thing from the bubble.
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on CNBC (orig. aired in 2009). Reminds me of how we got into this mess in the first place.
A few observations
1) Fraud is not part of the American dream.
2) The economy never really survived the crash of the late 80's. It's been smoke and mirrors (more or less) since then.
3) I can't help but thinking that this mess may not be over
4) Makes me worry about where we're going.
To be continued...