Comments on: Did Fannie Mae and Freddie Mac cause this financial crisis? http://liecount.com/2008/10/16/did-fannie-mae-and-freddie-mac-cause-this-financial-crisis/ Sat, 19 May 2012 00:58:43 +0000 http://wordpress.org/?v=2.6.1 By: USA’s Financial Stability Depends on China http://liecount.com/2008/10/16/did-fannie-mae-and-freddie-mac-cause-this-financial-crisis/#comment-368 USA’s Financial Stability Depends on China Tue, 27 Jan 2009 20:17:10 +0000 http://liecount.com/?p=519#comment-368 [...] Did Fannie Mae and Freddie Mac cause this financial crisis? [...] [...] Did Fannie Mae and Freddie Mac cause this financial crisis? [...]

]]> By: USA’s Financial Stability Depends on China | Electonic Articles http://liecount.com/2008/10/16/did-fannie-mae-and-freddie-mac-cause-this-financial-crisis/#comment-313 USA’s Financial Stability Depends on China | Electonic Articles Fri, 17 Oct 2008 09:02:44 +0000 http://liecount.com/?p=519#comment-313 [...] Did Fannie Mae and Freddie Mac cause this financial crisis? [...] [...] Did Fannie Mae and Freddie Mac cause this financial crisis? [...]

]]> By: eric http://liecount.com/2008/10/16/did-fannie-mae-and-freddie-mac-cause-this-financial-crisis/#comment-301 eric Thu, 16 Oct 2008 17:06:53 +0000 http://liecount.com/?p=519#comment-301 I think it's reprehensible for anyone to try and put this financial crisis at the feet of poor families who couldn't afford their mortgages. Widespread foreclosure has happened without banks collapsing, and it's ludicrous to try and say a few tiny homeowner defaults were able to sink gigantic companies like AIG and Bear Stearns. This collapse was from the CDS system, deregulated by Gramm's 2000 Commodities Future Modernization Act. The credit fault market was $900 billion in 2000, and now it's a $62 trillion market all based on speculation by members of Wall Street. Once investors began to realize these credit investments were bunk, faith was lost in these banks and money was withdrawn. I think it’s reprehensible for anyone to try and put this financial crisis at the feet of poor families who couldn’t afford their mortgages. Widespread foreclosure has happened without banks collapsing, and it’s ludicrous to try and say a few tiny homeowner defaults were able to sink gigantic companies like AIG and Bear Stearns.

This collapse was from the CDS system, deregulated by Gramm’s 2000 Commodities Future Modernization Act. The credit fault market was $900 billion in 2000, and now it’s a $62 trillion market all based on speculation by members of Wall Street. Once investors began to realize these credit investments were bunk, faith was lost in these banks and money was withdrawn.

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