/biz/ - Business & Finance

>>53514529
I never saw this movie, but I jerked off to this picture when it came out.

>>53514529
>So banks gave mortgages to poor people
ethnic minorities actually to avoid being sued for discrimination. no bank wanted to do sub prime, they were made do it. It was a crisis due to government interference in a market

The (at that time rising) value of those of those houses, as a form of credit, went into newly created financial instruments that could be traded.

https://en.wikipedia.org/wiki/Mortgage-backed_security

>>53514529
poors & leverage, watch margin call or something

>>53514529
There was a program back then to allow people to get mortgages without verified income.

The high risk loans got repackaged and sold as securities to investors who didn't know any better.

People who weren't old enough at the time don't remember this, but the Bush years were a time of largess for the middle class. After 9/11 Dubya told everyone that the patriotic thing to do was get your credit card and go shopping. People were trading in their 3 year old cars for brand new cars every 3 years. Ordinary people were flipping houses because you could buy a house, live in it a while, and sell it for more than you paid for it even without renovations. Greenspan wasn't enforcing any of the regulations on who could apply for a mortgage, and banks had money flowing out the wazoo at low interest rates, so what they were doing was giving mortgages to just about anyone, then turning around and repackaging them into SLAB bonds, then selling them on.

All of the people who were supposed to be regulating weren't, that's why they got appointed to those positions. All of the "responsible" institutions were going wild with money rolling in. Regular people were caught up in all of it doing the same on their own level. When it all came crashing down it crashed hard.

People forget just how bad Bush 2.0 was.

>>53514529
because:
1/ the shit mortgages were bundled in finance products taht spread everywhere in banks balance sheets
2/ The housing market crashed, meaning that the shit loans no longer had any collateral

>>53514550
W-whats the name of the movie??

>>53514873
OP's file name, yo.

>>53514901
I've never even heard of Knock Knock Cinema Horror Young2

>>53514529
The market has been mini crashing with yield curve inversions for decades, and there's always a new war or "reason" aside from (((central banking practices)))... can't blame "the poors" because they're generally not the Jewish bankers who printed all the easy money / credit.

Muh lending to blacks and hispanics was a symptom and not the cause, but goys just love getting fleeced every ten years. Remember to never forget 9/11 or whatever...

>>53514700
>People forget just how bad Bush 2.0 was.
Just like 9/11 I will never forget.

>>53515067
>>53515033

Kek pottery

>>53515026
>I've never even heard of Knock Knock Cinema Horror Young2
Perhaps you're more familiar with its full title:

20190426knock-knock-cinema-horror-young2.jpg

>>53514660
>The high risk loans got repackaged and sold as securities to investors
didn't they end up repackaging the repackages too?
and repackaging the repackages of repackages?
also they allowed companies/banks (can't remember) to play with the hedge funds too

>>53514529
>What was this thing?
Making more mortgages. It's how they get their cashflows. This was just their normal operation.
The problem was that other participants were treating mortgage bonds as money, so when fear spread that they weren't, suddenly completely unrelated banks who thought they had money found out that they had no money. Then they couldn't get more credit and went bankrupt.

>>53514700
And also a reminder that unchecked free market capitalism is a complete meme. If you think today's government boot is crushing your throat, you haven't felt the boot of unchecked conglomerates.

>>53514529
nobody talks or says what I'm about to say, but it was primarily white women across the country badgering their representatives to force banks to give mortgages to more diversity people. Banks refused because the people they denied are high risk, brown or not. Congress forced their hand, including deregulating high interest loans. Diversity people got their mortgages, bought houses all across the country, house prices goes up due to lower supply, most of them fail to make payments because they were all high risk types, they got foreclosed on at all around the same timeframe, loads of houses put back on the market, supply spikes, price falls dramatically. Real estate investment being a huge part of our economy, and well tangled up with all the other parts, and since the world is dependent on america's economic strength, caused the entire world economy to take a big shit when this massive real estate bubble popped.
For some reason people try to obfusicate how important to this crash american women were, and the power we give them to alter these complex systems on a whim. Blaming wall st, government, jews, banks, ceos, or anything else is just scapegoating (in this case anyway)

>>53515067
See though, it's already started. >>53515603
Congress doesn't have the power to tell the Fed to enforce standing regulation or not, not even the President can do much about it, but we've already got apologists shifting the blame to women and minorities instead of the pawns and architects of the whole fiasco. It's not even a full 15 years later.

>>53515342
I don't think anyone alive remembers company stores.

the federal government forced the banks to give out those shitty loans
fuck the banks too, as an aside

>>53515603
lol ya it was totally all white womans fault thank you rabbi

>>53514567
This... Even after removing red-lining; blacks and minorities still could not get a mortgage. So the government made them give it to them.

>>53515603
Oh yes, the poor, powerless banks caved to "badgering white women" lmao. Won't someone please think of the real victims, the white male bankers and useful alt-right idiot apologists?

>>53514529
>>53514660
>>53515254
Yes, but MOST IMPORTANTLY the debt was 1000x the original because bets place on bets placed on bets, called derivatives.

Bankers games created a hole far bigger than the value of the property market, and once fags started to lose their homes, and prices started collapsing, they were all bankrupt, except governments printed money and bailed the (((cunts))) out. A debt that all taxpayers are drowing in now.

Should have just let the gambling bankster cunts fail.

>>53514529
>>53514550
>>53515141
>>53514901
>>53515026
>>53514873
>that movie
I have no idea how keanu manage to get hard fucking those old hags, if they came to my home and wanted to scam me into having sex with them I would say
>too old
and watch them shut down unable to comprehend what just happened.

>>53515698
It wasn't all white women's fault, but a major factor nonetheless. Giving them political power on the same level as men is a mistake and the crash is one piece of evidence.
>>53515728
They caved to congressional pressure.
>>53515662
Subprime mortgages were a compromise. Congress can threaten banks and cause economic turmoil for sure.

Seriously. Seeing this build up in 2007 and nobody talking about it is about the same level as the Iraq war propaganda being seemingly memory holed by the common populace. I don't understand why women are guarded to such an extent that nobody even wants to mention them as a factor. I'm not even blaming minorities either, as it's specifically individuals that were high risk that got these mortgages, it's just that for the sake of diversity it was primarily focused on minorities.

Banks figured out that they could sell investment grade MBS that were mostly junk bonds without getting caught. When lots of defaults happened due to interest rate increases those supposedly safe assets defaulted, causing the meltdown you saw. It was an overall fraud committee by the banks, which they somehow were allowed to get away with.

>>53514529
The whole world runs on debt. And not just debt, debt on that debt. And debt on that debt. And all of that debt is done on credit, fake money that no one actually has.

Banks have tons of cash and the ability to swallow losses here and there. But when a huge chunk of their debtors are unable to pay them, they are now unable to pay their creditors. And this is where problems happen.

>>53514529
They sold debt too broadly backed by garbage loans. Bundled those loans and borrowed against it. Cowering behind cooked data.

>>53515899
>he doesn't remember the Tea Party trying to blackmail the rest of the government into giving them "oversight" of the Fed because the Fed has no such thing, Congress can't bully it into not enforcing regulations or into enforcing regulations, period
>this is precisely because if you left it up to Congress they would print us into hyperinflation because unemployed are the demographic most likely to vote out incumbents
>which was why nobody but Tea Party whackjobs had tried to acquire such a thing up to that point

The bizarre historical revisionism that you people do in service to your weird fixation on women and minorities is fucking mind blowing.

>>53514529
>community reinvestment act
>banks legally need to stop being raciss & give loans to non-asian minorities
>even if they have a poor credit score
>even if they can't afford the loans they are applying for
>even if they have a history of not repaying their debt
>oh no! The housing market is crashing because of mass home foreclosures
>how could this have happened?
>it must be the banks fault for giving out "predatory loans"!

>>53515976
I have literally never seen anyone else blame women for the crash. Minorities yes, not women. The trail of blame always stops at congress.
I don't know or care about the tea party. The fed's goal is economic growth/stability. Both congress and the president can cause pressure on what the fed cares about it enough to force their hand. The Fed isn't god.

>>53514567
>>53515603
>>53515707
>these absolute pol brainlet takes
Niggers there were no regulations to prevent sub prime loans. Dodd Frank came after the meltdown to address this loophole. People benefiting from these loans were (white) strippers with 3 houses, tradie cucks with mcmansions, and other wally world wagie tiers that believed they could actually own a house on the beach. People writing the loans knew there was no way in hell any of these degenerates would be able to afford the loans, but they got paid for every loan closed so why would they care? A lot of money changed hands until the wagies inevitably got crushed once ARM interest rates rose. It's not a race thing, it's a poor thing. So I guess it does involve (you) in that sense. I'm glad the whole thing is regulated now, nothing pissed me off more than seeing white trash larping as middle class.
>stay poor

>>53515707
And it proved that red-lining works
>noooooo!!! you can't just assume everyone living in the crime ridden hoods on foodstamps, in section 8, getting their car repo'd every other month don't qualify for a mortgage loan!

>>53516087
Neither Congress nor the President can do much about the Fed. The Fed has the dual role of both fighting inflation and unemployment, which are at odds with one another. Elected politicians have a heavy bias towards the fight unemployment side, which is why they don't have the kind of oversight that you're imagining that they do. The system was designed by people who had at least that much foresight.

>I don't know or care about the Tea Party

Based on this I'm guessing that you're way too young to actually remember any of these events particularly well.

>>53515899
>banks were pressured into being greedy
lol
lmao

>>53515033
Is that Scully?

>>53514529
They tool those shitty loans bundled them up and sold them as AAA debt instruments becauee "hey it would take a sigmificant number of these subprimes going under to sink thwae sebt instruments and thats not happenin"

These instruments were then traded some more, mixed in other debt instruments over and over again until no one had any real idea where all these shitty loans were and who held them so funds were investing in what they thought were safe loans only to realize later they were dog shit after it all fell apart.

>>53515342
>you haven't felt the boot of unchecked conglomerates.

We have that now. Whete you asleep the last 3 years?

>>53516774
Is that why megacorps and conglomerates are spending obscene amounts of money to convince people to remove regulations that keep them in check?

Government may be flawed but it can be improved. Either way, letting companies get away with murder because they convinced you by pinky swearing that they're doing it for your benefit is hilariously stupid.

>>53516866
Self-regulation is one of the wackiest bullshit 'free market' memes I've heard. Right up there with 'trickle down' economics. Load of horseshit. Of course if I substantially benefited from backing these memes, I'd do it. But I don't, so I won't, simple as.

>>53515067
I member.

>>53515603
More like (((members))) of congress incentivizing banks to give loans to diversity fags who could never pay it back. The banks then turned around and sold those loans in a paper pyramid of instruments. What was real fucked is that one shitty mortgage could (((somehow))) be a constituent of multiple mortgage backed securities. It's one of those times where the Jews really outdid themselves.

>>53515342
People don't care if they're being raped. They just don't want 'muh gubbermint' doing it.

>>53517619
This is propaganda from rightists/banks. It's incredibly sad how easily people can be manipulated by these "think tanks" like the Ayn Rand Institute into believing people as poor, or even poorer than them are the reason for their problems.

The Federal Reserve Board found there wasn’t a connection between CRA and the subprime mortgage crisis. Its research showed that 60 percent of subprime loans went to higher-income borrowers outside of the CRA areas. Furthermore, 20 percent of the subprime loans that did go to ghetto areas were originated by lenders that weren't trying to conform to the CRA. In other words, only 6 percent of subprime loans were made by CRA-covered lenders to borrowers and neighborhoods targeted by the CRA. Further, the Fed found that mortgage delinquency was everywhere, not just in low-income areas.

If the CRA did contribute to the financial crisis, it was small. An MIT study found that banks increased their risky lending by about 5 percent in the quarters leading up to the CRA inspections. These loans defaulted 15 percent more frequently. This was more likely to happen in the “greenlined” areas. They were committed more by large banks. Most important, the study found that the effects were strongest during the time when private securitization was booming.

>>53516126
>People benefiting from these loans were (white) strippers with 3 houses, tradie cucks with mcmansions,
Yes I also saw that scene in the Big Short starring Office Man and Bateman and the dude from Drive.

>>53517791
>That's just propaganda from banks bro, listen to the Federal Reserve

>>53517892
And MIT. It's kind of weird though, I thought (((jews))) ran the banks- and you want us to believe them? The ones that caused that mess because they were greedy? The ones that got a $1 trillion bailout in the end? Those guys?

At least keep your narrative straight if you're going to parrot propaganda like a "good goy", yeesh.

>>53514529
Those are men

>>53515141
Oh yeah I remember that one, a true classic

>>53517791
>into believing people as poor, or even poorer than them are the reason for their problems.
Oh no, if that's what you got out of my post then you're retarded. Most culpable parties to the fiscal destruction of the American middle class in no particular order
>bankers
>securities speculators
>ratings agencies
>institutional investors
>Congessional "oversight" committees
>securities and exchange commission
The list goes on. The point you should notice is that nowhere on that list are the poor saps who never had anything, and suddenly had hundreds of thousands of dollars practically thrown at them for a signature.
Every banker operating put of a van or a diner was and still is an insect, an imp, an Oni, and deserve eternal torment for ruining America.

>>53514529
1. let cleetus take loan on house
2. let friends at rating agency rate cletus debt as save
3. sell cletus debt to investors like pension funds
4. you have now money to lend again
5. goto 1.

this was the entire sheme and why it snowballed.

>>53514700
nice doubles, anon
the goyim are so manipulatable

>>53514529
We still need to actually crash from the dot com bust. And that's also probably catching up from something before it.
They're gonna prop it up until a non-jew starts winning at the market then we're actually gonna get the Depression 2.

>>53514529
Imagine girls like this offering to suck your BBC (big banker cock) for a mortgage no questions asked and they've sucked hundreds of BBCs before you. That's how it happened

>>53517829
It's based on the news interviews done on people who got foreclosed. The stripper was actually hotter irl

Sociopaths hit critical mass with 9/11 and out of desperation built a narrative around housing to keep the clueless group clueless. Economic losers saw through their narratives faster then the clueless group but have become harmless schizos neets or navigated markets into boring life. Clueless groups that filtered through the narratives lacking self awareness were either controlled by social justice movements becoming rank and file Obama admin drones or Twitter activists. Others were controlled by big tech sponsored maga movement. McLeod hierarchy is very real and society is a fragile structure.

>>53518453
>ribbon farm reader detected

>>53514529
bumping an interesting topic

>>53516523
Gillian Anderson is in a Netflix show where she plays a sex ed teacher or some such thing.
I haven't seen it yet, she's still hot though. Would while the x-files theme plays in the background

>>53514550
TRIGGER WARNING: KEANU REEVES GETS RAPED BY THOSE HOT WOMEN. BE CAREFUL GUYS AND STAY SAFE.

>>53516087
>the feds goal is economic growth and stability
lol. The feds goal is the enrichment of bank CEOs. Economic growth helps this but they will absolutely ruin shit as well if it helps JP Morgan.

>>53517791
>>53516126
>listen to propaganda (which contains zero reasoning or evidence) made by the people who orchestrated the crisis
>the hollywood movie form is the easiest to digest
how do these braindead nigger animals even find there way to this corner of the internet

>>53514660
>>53515254
Yeah they gave out mortgages to people they knew couldn't afford it to prop up the bubble and then argued later during the bailouts that "it wasn't fraudulent or foul play, we are just sooooooooo bad at our jobs... Gib us billions now pl0x"

>>53519952
Stop calling them people, stop trying to shift the blame from the fact that the entire fanancial crisis literally happened because of antiracists fuckwads who though blacks deserve mortgage. The very specific act that started the crisis began with giving mortgages to brown people. Why? Because the rich understand the behavior of genetically inferior blacks and understood the situation that they manufactured. But antiracists fuckheads don't. Thats the beauty of a successful fraud.

>>53518453
>>53517791
>>53516866
>>53516518
>>53516126
>>53515976

I have highlighted every stupid and FALSE explanation of what happened. I don't want /biz/ to be mislead, I want you all to understand that these faggots need to be called out for being neoliberal wackjob loser who ACTIVELY are falsely claiming that mortgages for black people aren't THE PRIME BEGINNING of the crisis. Because they want to falsely parrot a narrative.

Tell these faggots they don't belong on /biz/. Remind them that we can TELL you are doing this. No one is being fooled by this. No one is being fooled when you screech about MUH TRUMP AND MUH TEA PARTY, your entire stupid ideology has failed with Biden and you are being killed in Ukraine. Shut up and sit down.

https://www.youtube.com/watch?v=U1dpWiZoiJU

Please watch this video. No neoliberal wackjobs and an accurate assessment of the financial crisis. Notice that unlike the little blue vs red team liars I quoted, it mentions that giving mortgages to brown people was the main beginning of the crisis.Like ALL good explanations.

>>53518289
>cletus

Brown people moron. The act that started the crisis specifically mentions brown people. Brown people caused the financial crisis.

>>53517791
>>53516518
>>53516126
>>53516087
>>53515976
>>53515899

The word is "non-white". Stop using the word "minority", this is a subversion level word used to manipulate reality to lionize non-whites, to segregate working class whites from non-whites and to gain the false impression that "minorities" aren't the world's majority. You wanna separate Europeans from non-Europeans. Call them "non-whites"

>>53515342
You're not a Leftists you fucking Ukrainian supporting traitor. You are a progkiddie. So stop this larp.. I am a real Leftists because I support actual Leftism and ending fascism. I don't larp like a fucking neoliberal larping as a socialist on 4chan. You fucking loser.