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Hello Askbob! Bubble question.

Greyparrot
Posts: 14,321
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6/27/2011 8:21:52 PM
Posted: 5 years ago
Do you think the Housing Bubble was a result of an unfunded government mandate? Specifically, a mandate to take on risky loans but were not supported with taxpayer money?
askbob
Posts: 7,254
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6/27/2011 8:24:27 PM
Posted: 5 years ago
Lol hardly. It was caused by Moodys and S&P lying in bed with the i-bankers and rating shitty mortgages AAA so that AIG would ensure the CDS's that the mortages were based on. AIG needs to do its own research before ensuring complex financial vehicles and then there would be no incentive to buy junk ones and bear no risk of default.

Why do you think the US bailed out AIG? Wasn't because we gave a crap about them failing but because China bought up the bulk of those junky CDs's that AIG insured.

If AIG did it's own damn research it would have in no way insured those CD's and therefore no one would have bought them which would have prevented the banks from giving the mortgages because they sure as hell weren't taking the default risk. So in the end it was one huge business removing a default risk and not having the money to back its insured goods that caused the problem, not the government, not Freddie Mac, not Fannie Mae, not the Fed, but AIG.
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Me -haha you apparently don't know my history
Kohai - Maybe not, but that doesn't matter! You shoukd still listen to your community and quit being a tyrrant!
Me - i was being completely sarcastic
Kohai - then u misrepresented yourself by impersonating the owner—a violation of the tos
askbob
Posts: 7,254
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6/27/2011 8:29:04 PM
Posted: 5 years ago
also let me know if you want any terms defined
Me -Phil left the site in my charge. I have a recorded phone conversation to prove it.
kohai -If you're the owner, then do something useful like ip block him and get us away from juggle and on a dofferent host!
Me -haha you apparently don't know my history
Kohai - Maybe not, but that doesn't matter! You shoukd still listen to your community and quit being a tyrrant!
Me - i was being completely sarcastic
Kohai - then u misrepresented yourself by impersonating the owner—a violation of the tos
Greyparrot
Posts: 14,321
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6/28/2011 11:48:32 AM
Posted: 5 years ago
At 6/27/2011 8:24:27 PM, askbob wrote:

Why do you think the US bailed out AIG? Wasn't because we gave a crap about them failing but because China bought up the bulk of those junky CDs's that AIG insured.G.

I think it is likely AIG's bailout will end up being funded with more Chinese debt.
Poor China.
askbob
Posts: 7,254
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6/28/2011 7:33:51 PM
Posted: 5 years ago
At 6/28/2011 11:48:32 AM, Greyparrot wrote:
At 6/27/2011 8:24:27 PM, askbob wrote:

Why do you think the US bailed out AIG? Wasn't because we gave a crap about them failing but because China bought up the bulk of those junky CDs's that AIG insured.G.

I think it is likely AIG's bailout will end up being funded with more Chinese debt.
Poor China.

hahaha and the sad part is they have to keep that debt in order keep their currency lower so their prices are lower so we continue buying from them
Me -Phil left the site in my charge. I have a recorded phone conversation to prove it.
kohai -If you're the owner, then do something useful like ip block him and get us away from juggle and on a dofferent host!
Me -haha you apparently don't know my history
Kohai - Maybe not, but that doesn't matter! You shoukd still listen to your community and quit being a tyrrant!
Me - i was being completely sarcastic
Kohai - then u misrepresented yourself by impersonating the owner—a violation of the tos
Cody_Franklin
Posts: 9,484
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6/28/2011 10:01:08 PM
Posted: 5 years ago
At 6/28/2011 7:33:51 PM, askbob wrote:
At 6/28/2011 11:48:32 AM, Greyparrot wrote:
At 6/27/2011 8:24:27 PM, askbob wrote:

Why do you think the US bailed out AIG? Wasn't because we gave a crap about them failing but because China bought up the bulk of those junky CDs's that AIG insured.G.

I think it is likely AIG's bailout will end up being funded with more Chinese debt.
Poor China.

hahaha and the sad part is they have to keep that debt in order keep their currency lower so their prices are lower so we continue buying from them

Idea for Anarchism.

1. Get lots of money.
2. Buy up the portion of US debt owned by China.
3. Cash in.
4. ????
5. Anarchy/profit!
askbob
Posts: 7,254
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6/28/2011 10:03:44 PM
Posted: 5 years ago
At 6/28/2011 10:01:08 PM, Cody_Franklin wrote:
At 6/28/2011 7:33:51 PM, askbob wrote:
At 6/28/2011 11:48:32 AM, Greyparrot wrote:
At 6/27/2011 8:24:27 PM, askbob wrote:

Why do you think the US bailed out AIG? Wasn't because we gave a crap about them failing but because China bought up the bulk of those junky CDs's that AIG insured.G.

I think it is likely AIG's bailout will end up being funded with more Chinese debt.
Poor China.

hahaha and the sad part is they have to keep that debt in order keep their currency lower so their prices are lower so we continue buying from them

Idea for Anarchism.

1. Get lots of money.
2. Buy up the portion of US debt owned by China.
3. Cash in.
4. ????
5. realize you lost money due to inflation
Me -Phil left the site in my charge. I have a recorded phone conversation to prove it.
kohai -If you're the owner, then do something useful like ip block him and get us away from juggle and on a dofferent host!
Me -haha you apparently don't know my history
Kohai - Maybe not, but that doesn't matter! You shoukd still listen to your community and quit being a tyrrant!
Me - i was being completely sarcastic
Kohai - then u misrepresented yourself by impersonating the owner—a violation of the tos
Cody_Franklin
Posts: 9,484
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6/28/2011 10:06:25 PM
Posted: 5 years ago
At 6/28/2011 10:03:44 PM, askbob wrote:
At 6/28/2011 10:01:08 PM, Cody_Franklin wrote:
At 6/28/2011 7:33:51 PM, askbob wrote:
At 6/28/2011 11:48:32 AM, Greyparrot wrote:
At 6/27/2011 8:24:27 PM, askbob wrote:

Why do you think the US bailed out AIG? Wasn't because we gave a crap about them failing but because China bought up the bulk of those junky CDs's that AIG insured.G.

I think it is likely AIG's bailout will end up being funded with more Chinese debt.
Poor China.

hahaha and the sad part is they have to keep that debt in order keep their currency lower so their prices are lower so we continue buying from them

Idea for Anarchism.

1. Get lots of money.
2. Buy up the portion of US debt owned by China.
3. Cash in.
4. ????
5. realize you lost money due to inflation

If the government goes kablooey, I'm pretty sure the US dollar won't be worth much of anything anyway.

Though, honestly, it's more likely that they'll just be d!cks and default.
Cody_Franklin
Posts: 9,484
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6/28/2011 10:07:18 PM
Posted: 5 years ago
At 6/28/2011 10:06:25 PM, Cody_Franklin wrote:
At 6/28/2011 10:03:44 PM, askbob wrote:
At 6/28/2011 10:01:08 PM, Cody_Franklin wrote:
At 6/28/2011 7:33:51 PM, askbob wrote:
At 6/28/2011 11:48:32 AM, Greyparrot wrote:
At 6/27/2011 8:24:27 PM, askbob wrote:

Why do you think the US bailed out AIG? Wasn't because we gave a crap about them failing but because China bought up the bulk of those junky CDs's that AIG insured.G.

I think it is likely AIG's bailout will end up being funded with more Chinese debt.
Poor China.

hahaha and the sad part is they have to keep that debt in order keep their currency lower so their prices are lower so we continue buying from them

Idea for Anarchism.

1. Get lots of money.
2. Buy up the portion of US debt owned by China.
3. Cash in.
4. ????
5. realize you lost money due to inflation

If the government goes kablooey, I'm pretty sure the US dollar won't be worth much of anything anyway.

Though, honestly, it's more likely that they'll just be d!cks and default.

Then again, probably right. Just print some money up and pay off the ol' debt obligations.
askbob
Posts: 7,254
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6/28/2011 10:08:31 PM
Posted: 5 years ago
At 6/28/2011 10:06:25 PM, Cody_Franklin wrote:
At 6/28/2011 10:03:44 PM, askbob wrote:
At 6/28/2011 10:01:08 PM, Cody_Franklin wrote:
At 6/28/2011 7:33:51 PM, askbob wrote:
At 6/28/2011 11:48:32 AM, Greyparrot wrote:
At 6/27/2011 8:24:27 PM, askbob wrote:

Why do you think the US bailed out AIG? Wasn't because we gave a crap about them failing but because China bought up the bulk of those junky CDs's that AIG insured.G.

I think it is likely AIG's bailout will end up being funded with more Chinese debt.
Poor China.

hahaha and the sad part is they have to keep that debt in order keep their currency lower so their prices are lower so we continue buying from them

Idea for Anarchism.

1. Get lots of money.
2. Buy up the portion of US debt owned by China.
3. Cash in.
4. ????
5. realize you lost money due to inflation

If the government goes kablooey, I'm pretty sure the US dollar won't be worth much of anything anyway.

Though, honestly, it's more likely that they'll just be d!cks and default.

While the citizens protest in the streets and blame it all on the government and say they owe nothing.

Oh wait that's the promising youth of greece
Me -Phil left the site in my charge. I have a recorded phone conversation to prove it.
kohai -If you're the owner, then do something useful like ip block him and get us away from juggle and on a dofferent host!
Me -haha you apparently don't know my history
Kohai - Maybe not, but that doesn't matter! You shoukd still listen to your community and quit being a tyrrant!
Me - i was being completely sarcastic
Kohai - then u misrepresented yourself by impersonating the owner—a violation of the tos