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 金融海啸的原因(ZT) |
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力薄儒们总是手电筒照别人的.你上次的文章说的事情难道是发生在小灌木的8年里? -- 诚灵 - (270 Byte) 2008-10-15 周三, 上午4:31 (156 reads) |
bystander
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作者：bystander 在 驴鸣镇 发贴, 来自 http://www.hjclub.org
nor have I ever said that Bush is the only one to blame. I'm not intereted in assigning blame at all. You are projecting your own bias onto what I have said. Let's get the facts straight, Ok?
1. The housing bubble took off in 1995 in the Clinton years; no argument about that.
2. Some major steps of "deregulation" took place during the Clinton era, e.g. the Glass-Steagall Act was repealed in 1999. It was replaced by the Gramm-Leach-Bliley Act. (BTW, Phil Gramm was, and still is, a Republican and a very good friend of John McCain.)
3. The two points above are "necessary" but not "sufficient" condition(s) for the subprime debacle. (Assume you understand basic logic.)
4. The subprime fiasco happened from 2003 to 2007 as part of Greenspan's plan to "reflate" the economy after the Nasdaq bubble burst. (Greenspan was a fervent advocate of deregulation, securitization and so-called "structured finance")
5. Securitizaion ran rampant in the years 2004 to 2007. It was during this period that huge amounts of subprime home loans were repackaged and sold.
I've read dozens of articles on the CRA, subprime mortgages and related issues. One of the best is written by Barry Ritholtz:
http://bigpicture.typepad.com/comments/2008/10/misunderstandin.html
作者：bystander 在 驴鸣镇 发贴, 来自 http://www.hjclub.org |
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- Bush is too liberal, so is Macain. They are far better Obama -- jeramah - (72 Byte) 2008-10-15 周三, 下午9:59 (138 reads)
- 现在又说是格老SCREW了,也是小灌木不好? 你从来没有说过民主党的责任 -- 诚灵 - (44 Byte) 2008-10-15 周三, 上午5:23 (126 reads)
- 另外,你来解释一下,这个DEREGULATION的是怎么推动了次贷,好伐? -- 诚灵 - (0 Byte) 2008-10-15 周三, 上午5:20 (117 reads)
- 难道要俺来提醒你,在你的文章里说到克林顿上台了,大状们开始... -- 诚灵 - (19 Byte) 2008-10-15 周三, 上午5:18 (143 reads)
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