[Greg0787]

happening in 2005 with subprime mortgages? Rather than say it was the republicans or democrats... I actually into what the people who made billions from the hedge funds were saying.Why is their take on the financial crisis almost entirely outside the realm of politics? And why did they say many of the subprime lenders were so corrupt (One said a bank gave a 700,000 dollar loan to an illegal alien for a house, knowingly), they knew they'd make a killing by shorting subprime mortgage bonds, which were destined to collapse? This is a handful of hedge fund investors who made anywhere from hundreds of millions of dollars to billions, mind you, and by no means are the idiots... they outsmarted AIG and its egghead team easily.But then again, what does a man who made 6 billion dollars via his hedge fund know about the economic crisis?It seems like all these people who knew the crisis was coming put the blame on the banks and the lenders.@ Fixing the system: While the people who did the investments said markets are made of risks and probabilities, they all admitted looking at the situation, that it was a no brainer and going to happen. That's why they literally put huge portions of their portfolios to "bet" on what they knew was inevitable.

[Fixing the System]

All right smart guy, tell what will happen in six months and one year from now.

[Food Fight]

Examining the books afterward we know that only 15% of losses were on sub prime mortgages. The rest was on derivatives trading. You were lead to believe that sub prime mortgages was the problem because you would have been even less willing to bail the banks out if you realized that they lost the money on investments that you are not even allowed to invest in, and that the banks have no person outside of the banking business to blame it on.I disagree that there was much corruption involved. How can you be corrupt in a completely unregulated investment?

[LDNZ1014 Lisa]

Bill Clinton & Barney Frank with help from Freddie and Fannie......Project Main Street USA. This started while Clinton was in office and was a long time coming.

[Socrates]

I remember an interview a reporter had with President Bush in 2005. The reporter asked about the housing bubble that might burst and send the economy into a recession. Bush reassured him there was nothing to worry about. That's when my ears perked up wondering if there was something to this.Of course, there was a housing slump as Bush came in to office. Unfortunately, he listened to Progressive solutions to the problem; pushing risky sub-prime ARMs to those who couldn't afford them if the rates reset (the economy is doing good, that wouldn't happen!) or those who couldn't afford them period.