Who caused the 2008 financial crisis?
>>67036151
Greed. Fractional reserve banking system. Interest
Capitalism?
>>67036151
Ur mom
>>67036151
Clinton
>>67036151
Do you really need to ask?
The Jews™
>>67036151
giving loans to people who couldn't afford to pay them?
>>67036151
Niggers demanding cheap mortgages without collateral because "muh banks are racist, gibs me dat loan".
>>67036326
actually this
>>67036151
Mortgage lenders which were encouraged to lend massively by the US government, plus essentially collective ignorance on the real estate bubble. It started in 2001 with measures taken to end the last recession as well as 1997 and the end of Glass-Stiegel which made the banking system vulnerable,
>>67036151
de joos
Niggers.
Niggers and loose loans supported by the left and liberals. Niggers didn't realise they were required to pay back what they borrowed and liberals never explained the finer points of capitalism.
Niggers thought it was EBT or gibs.
>>67036500
>™
Wrong.
It was CAPITALISM™
I did.
'sup
>>67036151
Credit ratings agencies labeled high yielding sub-junk AAA. It was not Barnie Frank's powerful powers of gay gayness. The financial firms that created these mortgage bonds colluded with the credit ratings agencies and committed fraud against the bond buyers.
>>67036614
>>67036680
So then who is most to blame?
Do we give the retards who took the loands 50% of the blame, and the government for allowing people to give the loands also 50% of the blame?
Who is at fault here?
>>67036869
I blame Freddie Mae
>>67036151
The government caused it by pushing for affordable housing, buying up the mortgages of subprime loans, and then using quantitative easing to cover up the problem. We're suppose to believe the government stepped in and saved the day, but if the government stopped fucking with the economy, the crash never would have happened.
Freddie Mae and fabnie Mac did it
/thread
>>67036896
>So then who is most to blame?
Congress who thought the 'home ownership for everyone' makes sense, even if some people had 0 equity to spend.
In short, a large collaboration of Jews operating every part of a vast conspiracy so that each one could claim they didn't see it coming. Naturally, they blame it on the goyim (esp. poor niggers who fell for it).
>>67036151
Kikes and their kikery.
>>67037037
Fannie Mae did not do sub-prime. Sub-prime was a totally private creation lending to people that Fannie and Freddie would not touch with a ten foot pole. Fannie and Freddie were only looking into getting into sub-prime when the shit hit the fan. The question everyone needs to ask is who kept buying these mortgage bonds, and why. Nothing forced anyone to buy all these AAA rated mortgage bonds, it just looked like a really good idea to many buyers. I blame the credit ratings agencies. That is the key-stone, the linchpin. And there was no government interference in the ratings, only old fashioned, private, fraud.
Now, this entertaining documentary leaves many leaves unturned and thereby fails to tell the whole story, but it's quite a good introduction to the multifacetedness of the situation.
https://www.youtube.com/watch?v=bYm_oEO5iyE
There's that other film that came out the other month that I'm told is good at outlining the story in an understandable way, but I forget the name and can't recommend it as I have not seen it.
Fannie Mae implicitly federally supported.
Buys/sells mortgages to banks in a giant circle after securitizing them. The circle eventually collapsed.
>>67036151
subprime lending by the banks and the abrupt halt of security purchasing upon finding out about the subprime lending
>>67036151
Government bank bailouts that destroyed moral hazard and Alan Greenspan's quantitative easing. That's literally it.
>>67037712
>linking a trailer
are you fucking retarded or something?
>>67037771
Sub-prime, are by definition, borrowers that Fannie/Freddie would not lend to.
>>67036614
This was the direct cause. The underlying cause was
>>67037983
>>67038027
Fek, more Jewish lies! JewTube said it was the full length. Oh well, now you know what to dig around for. I've seen the whole thing uploaded before.
>>67038027
>>67037712
>>67038156
I just found it
http://putlocker.is/watch-inside-job-2010-online-free-putlocker.html
Basically the regulations for mortgages were different and they laxed them to get more people buying homes. Unfortunately the new people they let have mortgages then all defaulted because they were not able to pay. So you have a million foreclosures that sit in debt limbo for 10 years (because the banks try to sell high to recoup costs of lost debt) until the bank decides it isn't going to sell at that price, cuts it's losses and sell it for pennies.
>>67036151
American banks that turned loans to niggers and rednecks into financial products and the European banks that bought those products.
The financial regulators that were asleep at the wheel and the governments responsible for those regulators also share part of the blame.
tldr : joos
>>67036151
Real talk:
It was the house flipping fuckwits and thier crony banks. Before 2008 real estate agents got into the craze of seminars about becoming millioniares through flipping houses. They used evangelical sales tactics, what like you see with self help gurus, and preyed upon the financially stupid. Banks got in on the action because of thier connections to crooked real estate companies. They both saw the fad as a gold mine but niether one was willing to tell the other about the consequences of putting too many poorly decided real estate gambles.
Seriously! It was those house flipping fuckwits and thier stupid real estate scams that caused a lot of people to loose money and property.
Banks and their incessant need to create money out of thin air by falsely labeling subprime lending as AAA through bought credit agencies. The discovery of that led to a complete freeze.
>>67036151
Texas is right you know
>>67036312
>>67038502
>T. guy who fell for the scam
Young faggots and government banks
>>67036151
Everyone vying for the government's power to destroy their competition.
>>67038552
Arguably, what lead to a freeze was an interruption in the cash flow from drugs and terrorists into HSBC which apparently was the basis for HSBC's day to day liquidity.
>>67038502
t. faggot who's scared of tools
>>67036151
Jews.
>>67036151
>abundance of "safe" mortgage investments by banks
>safe mortgages from people who can afford their homes etc.
>abundance of unsafe ARM mortgages that have teaser rates of 0.05% for X months given to "NINJA" people--no income; no job.
>ultra kikes realize they can cut the blocks of mortgage bonds up into "riskier" blocks to make mortgage-backed securities, so you're basically gambling that people who have houses they can't afford will be able to pay their bills when the teaser rates drop off and they owe real money now
>this bullshit in the bonds is covered up by a veneer of safety since the bonds return money at acceptable rates due to the teaser rates and the small sprinkling of responsible homeowners in each mix
>factor in millions of people who never paid attention to the "too good to be true = not true" thing (NINJA's) and you suddenly have a cascading wave where people can't pay the new rates on their ARM loans, safe payors in bonds can't satisfy the expectations of institutional payees betting on bonds being safe investments, and suddenly you have a domino effect that fucked us all in the ass
>fewer loans/occupied homes with equity also has a ripple effect on construction sector, durable goods, home improvement, cars (what do you buy after a house? a car!), and pretty much every other part of the economy
Pretty much how I understand it having done some reading on the subject over the years.
>>67038502
Who lent to these fuck-wits? Who were the loans sold to? Why would anyone buy these fuck-wit loans? Because the credit ratings agencies blessed these loans as AAA. The prime driver for everything in the chain was the shit loans to shit people became top rated bonds that bond buyers could not get enough of.
>>67036151
Obama. As soon it became clear he was going to win... CRASH!
>>67038760
he might have just bought in a shitty area and saw no growth
>>67036151
Who is behind the curtain goy?
>>67036151
The lowered lending standards that were put in place thanks to Clinton and Bush pushing their "Affordable housing for all" programs which would make doing business nearly impossible for banks if they didn't give out enough loans to low income people which lead to all sorts of crafty and insane lending practices never before seen in what has been a steady safe and stable lending market for 70+ years which lead to both speculators claiming whatever income theh wanted to buy property as well as poor folk being fucked by complicated lending terms which lead to these loans not being paid back which eventually popped this bubble
That is the extreme short of it and for the full story Thomas Sowell has done the best work on the subject
http://www.amazon.com/The-Housing-Boom-Bust-Revised/dp/0465019862
>>67036151
Alan Greenspan and notation agencies for putting the AAA rating on junk mortgages.
>>67038791
The smart money moved out of real-estate in mid-2016.
Greedy banks giving out loans and mortgages to poor niggers who don't know any better, and inevitably couldn't pay them off.
It all leads back to the FED.
>>67038842
Lies. All lies. The government did nothing to force the credit rating agencies to rate the nigger-trash loans and AAA, that was pure private fraud between Jew bankers and Jew ratings agencies.
The evil socialists
>>67038940
>Greedy banks giving out loans and mortgages to poor niggers who don't know any better, and inevitably couldn't pay them off.
See
>>67038842
The government would make it nearly impossible for banks to do business if they didn't fill their arbitrary quotas on what government bureaucracy thought they should be doing.
Fascism at work kids
>>67038940
>buy 300k house making 40k a year
>didn't know better
>>67038842
Anyone with half a brain knew this was happeneing in 2006, I an Comp Sci student regualraly argued with a business student back in 2006-2007 about this.
I claimed everything was over inflated and the bust was coming, I advised him to join the army and become an administrator.
Decades of The community reinvestment act
>>67038502
>I'm a buy-to-let investor
Kill them all.
>>67038978
While they are not to blame for the actual policies, they did cause the collapse with their aggressive interest rate change. It coincided almost exactly with when the economy started tanking.
>>67036151
banks
https://www.youtube.com/watch?v=ClfBxWPkBKU
>>67039070
Daily reminder that under federal law that there were only 3/4 credit agencies that could be legally used by banks.
Barney Frank is the man with the single most blame
>>67036151
simple people buying house they could not afford .
>>67036151
>>67039248
No there were cunts all the way down, but ultimately the central banks have to take the fall for allowing the conditions in which cunts can thrive unimpeded.
Jews lied about how risky the assets they were selling via ratings agencies they owned.
>>67039261
So bankers (criminals) bribe politicians (other criminals) and you blame Frank?
Personally, I blame bribe payers more than bribe receivers, but both belong in prison, but the payers are the active parties.
Iceland was smart enough to put their bankers in prison.
>>67039070
AAA means there is a small risk of loss, not that there was no risk at all. Such no risk asset does not exist, it never can exist. It's possible to mix good stuff and and some shitty stuff and in the mathematic model it still shows as low risk triple A asset.
And the government(s) had their hands on this since they were only allowed to invest in triple A hence creating the whole rating industry.
>>67036151
Democrats and banks. Democrats because they pushed the "everyone has the right to a home" shit and required banks to give out loans to people who would never be able to get them otherwise. No credit house loans are basically what started it all.
>>67040238
They didn't require the banks to give out loands at all, they just allowed it
>>67040238
Both republicans and the democrats propagated the muh house ownership meme.
https://www.youtube.com/watch?v=QYvtvcBKgIQ
>>67040238
>Democrats because they pushed the "everyone has the right to a home" shit and required banks to give out loans to people who would never be able to get them otherwise.
I believe it's called community reinvestment act signed into law by Bill Clinton. It basically required banks to give huge home loans to minorities who tended to average awful credit scores.
Blaming anyone outside of mortgage lenders is political posturing/retarded.
>>67038784
The banks who partially owned theses real estate scams are the ones who approved the loans, which I alluded to. Nearly every bank out there has ownership in to large real estate companies. To make an analogy with drugs: The banks were the suppliers while real estate gurus were the pushers while the financially illiterates were the addicts.
Ask this: Where do you think all those sudden requests for loans came from? Why did the request for mortgage loans suddenly rocketed up in the early 2000's. Why after decades of slow movement in the real estate sector did it suddenly go full speed? Who was encouraging the fad?
Nearly ever financial media outlet hyped the craze of flipping houses. Nearly every financial guru was telling people to short stock a margin account that was brokeraged with no real money. They all said that real estate was the golden ticket to a better life. And people went for it. Even today there too many people who think flipping a house with no money down is the easiest most secure way to get rich.
>>67040804
Back to le reddit
>>67040804
>mortgage lenders
they were just doing what mortgage lenders do
the governments are to blame for changing their rules mid game
>>67036151
>you big banks must loan to niggers so they can buy $300,000 houses on Walmart salary
>by the way the government backs all of your debts so don't worry about risk :^)
>(market predictably craters)
Socialists. Specifically Bill Clinton.
>>67036151
Bill Clinton.
He repealed the Glass Stegal Act and made banks lend out money to people who would not have been issued loans otherwise.
>>67036571
This.
The government forcing banks to give loans to nigs who wouldn't be able to pay them back
>>67036151
Bankers looking to score boatloads more money. Just so happens majority of leading bankers are Jews. Go figure.
My father and I were carpenters ( framers, to be exact, ) and we were the first workers to fall when it the economy came crashing.
>dumb banks lend loans to dumb people who they know fully well cant pay the loans, yet are still responsible for knowing they cant pay the loans
unfortunately not using the bail outs would have pushed into a proper depression, but thats what happens when you tie the economy to wall street (not necessarily a bad thing)
>>67036151
Clinton by changing the banking policies on the market in 1995.
Economy always comes 10+something years after fundamentals for growth or for fail was introduced.
Three people.
Bill Clinton, his treasury secretary Robert Rubin and then-fed chairman Alan Greenspan.
Clinton and Rubin removed a Depression era regulation that prevented all banks being entangled into risky investments.
Greenspan kept interest rates way too low during his run, encouraging more borrowing than what was sustainable.
Of course, we should also blame the banks themselves for giving out loans to fucking everyone and then using their voodoo economics to up the value of these shit loans.
The Clintons and other Democrat shitpiles who made banks give financing to unqualified people.
>>67045144
> Forced
Not quite. The banks had lobbied for years for government backing for those bonds. It's governance and big money conspiring with eachother that causes travesties such as 2008 collapse.
>>67036571
Nope. The government banned not lending on racial grounds but also made it illegal for a banks to lend to anyone who didn't have Good enough credit to repay the loans.
The banks ignored that last part though.
>>67045547
Wat about Hank paulson?
>>67036151
poor people. we should have deported them all years ago.
the fed, the banks, and lots of dumbshits getting in over their heads on loans.
>>67036151
Devaluation of the dollar made people look for assets that retain their value + government programs making credit cheaper -> housing bubble
>>67036151
turning your physical economy into an aircastle based on promises and expectations that turn into hot air when under pressure
that's why China can never drop as hard as america could, if their economy tanks, they still have factory buildings and a massive workforce, those things can't turn into nothing, but the Wall Street is just an illusion, works as long as everyone plays along
>>67036312
Let this sink in:
There's less than 100 Trillion dollars worth of 'real' money in the world.
There exists over 1.2 QUADRILLION with a fucking 'Q' dollars worth of derivatives.
This is what happens when infinite growth meets finite resources. People use derivatives to create value from nothing. Modern captialism is literally a giant Ponzi scheme.
>>67044931
Glass Stegal didn't prevent "normal" banks from selling mortgage backed securities to investment banks. Glass Stegal prevented investment banks from giving loans. None of the investment banks that got into trouble, banks like bear stearns or lehman, gave any loans for housing. Repealing the Glass Stegal dindu nothing.
Fannie Mae and Freddie Mac caused the crisis.
Chinese currency manipulation
>>67036326
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
