And if so, how do they explain the financial sectors of so many countries (especially the UK and Japan) also collapsing?
And is this why nobody watches the Fox financial news?What is Fox's latest foolish idea of what caused the financial crisis?LOL obviously it was created because Obama ruined the economy before he was even elected.What is Fox's latest foolish idea of what caused the financial crisis?
0bama (PBUH)What is Fox's latest foolish idea of what caused the financial crisis?Hannity thinks squirrels stole the money and buried it in the ground. You laugh, but I wouldn't be surprised to hear something like that come out of his mouth.
Perhaps because economies are interconnected?
Just a wild theory.
And FOX has the most viewers so....What is Fox's latest foolish idea of what caused the financial crisis?seems that you watch it ..other wise how would you know what is on it?.....What is Fox's latest foolish idea of what caused the financial crisis?
Yes they are, and the reason is because they know that those that watch FNC will never think to fact check anything they lie about.
Mortgage default swaps were traded all over the world. Many of these derivatives were based on loans for which there was insufficient down payments made and loaned to people that weren't credit worthy.What is Fox's latest foolish idea of what caused the financial crisis?
aww, sad that your little lib shows don't have high ratings like fox does?
that sounds like a sore loser to me :)
So genius what channel do you watch for you oh so wise political foresight.
You people make me laugh because you truely are in denial.
don't know what they say
don't care what they say
First you better look at the ratings of their financial news. It is off the charts and what ever you are watching is way behind FOX! Second, think about it, the banks were forced to give loans to minorities to purchase homes in the 120000.00+ range. They could not pay the notes and the housing market eventually tanked and everything else fell right in. Makes sense to me.
Think about this!
Can you own a house in another country?
Can you buy stock from a foreign exchange?
Can you place your money in a foreign bank?
Can other people in other countries do the same?
Go back school!
Both parties are equally to blame for the financial mess. You have heard it all before. The repeal of the Glass Steagall Act allowed it to happen. The Community Reinvestment Act worked hand in hand with the Gramm Leach Bliley Act and the Commodity Futures Modernization Act of 2000 all allowed for the tremendously stupid risk taking which both parties passed gleefully while Clinton was president.
Both parties wanted these laws for different reasons. The dems so the poor could get new homes and the reps because they liked the innovation and risk taking that allowed for globalization of our investment packages consisting of what turned out to be toxic mortgages, the swaps which had no oversight whatsoever and were guaranteed by AIG.
Forcing businesses to make bad business decisions is very detrimental to business both at home and abroad. Specifically making loans to people who didn't have a prayer of repaying them and selling the mortgages to investors. Other countries have since changed their banking system realizing that our example wasn't too bright. We have yet to change these laws here and now there is talk of a similar scheme to be used dealing with insurance rather than bundled mortgages.
We need to use the anti trust laws to break up these entities that are deemed to big to fail. Instead, during the financial crisis, these entities were encouraged to buy the others out creating even bigger entities. We have not yet learned our lesson. Beware.
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