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Showing 1-9 of 9 posts in this discussion
Initial post: Mar 14, 2010 4:57:21 PM PDT
Packaged invesments of substandard loan portfolios called sub prime mortgage pools were created by Wall Street to subvert the US backed agenicies Fannie Mae and Freddie Mac. They sold them to other supposedly "sophisticated" investment buyers like AIG and other depoitories world wide. The US governement (Congress/SEC) stood by for years and let it happen. Anybody who was stupid enough to invest in these worthless securitized assets deserved to be taken to the cleaners. Wall Street couldn't care less who they peddled them to and they made $ billions in the process. The US taxpayers will be paying for the the government's mistakes and Wall Street's greed for the next 30 years!

Posted on Mar 14, 2010 7:50:51 PM PDT
I just saw an interview on 60 Minutes and ordered the book. BTW, the Planet Money blog from NPR has had excellent pieces explaining the shenanigans in terms understandable by those of us not in the financial industry.

Posted on Mar 14, 2010 9:45:28 PM PDT
[Deleted by the author on Apr 3, 2010 6:51:07 AM PDT]

Posted on Mar 15, 2010 6:07:47 AM PDT
E. P. Steele says:
Last night I watched the 60 Minutes piece. As ususal I was sick to my stomach with more of the big money mess. Is there somebody out there who has the answers?

Posted on Mar 15, 2010 12:53:56 PM PDT
JayRye says:
[Customers don't think this post adds to the discussion. Show post anyway. Show all unhelpful posts.]

In reply to an earlier post on Mar 18, 2010 8:07:33 PM PDT
z_bookworm says:
Mr. Nail-- The SEC is not the gov't. A large % of the customers of these derivatives were big foreign banks b/c they trusted the rating agencies, not the issuers. Americans will be paying for this corruption not only in taxes and the inability of gov't to afford desperately needed investment in new mfg infrastructure, but in a freefall of our currency abetted by angered foreign countries. The fault of a crime is the criminal's, not the victim's. Get a clue.

Posted on Apr 26, 2010 8:22:09 PM PDT
Bob Beggs says:
If publishers feel that they will improve sales by waiting for hardcover sales to build before making an e-book version of their titles available they are in error. Those of us who love e-books will not buy the hardcover when an e-book version is not available. And, when the e-book version finally is released the buzz may well have subsided and we'll be on to something else. We may well end up not buying the book at all. The e-books don't all have to sell for $9.99. The publishers and author deserve a fair return (hardcover price less printing and distribution costs). But, waiting may get them nothing. BTW, everyone, this is not Kindle's fault. There are other e-book sellers and they are not selling The Big Short in the U.S. market either.

In reply to an earlier post on May 4, 2010 5:48:36 PM PDT
AND the Big Short is available in the UK for kindle.

I was very anxious to read the book, being a devoted fan of the author, but I want to read it on kindle. Predictably, my interest has waned. If it were available for $9.99 I might consider it, but I've moved on to other books -- books whose publishers offered recent releases in kindle for $9.99.

In reply to an earlier post on Oct 5, 2010 10:41:16 AM PDT
What rock did you crawl out from under? THe Securities and Exchange Commission is IS an arm of the government. Just like the IRS is an arm of the government. And it seems that the rating agencies, and this does not excuse their behavior, were practically forced to over rate the worthless pools of mortgages so that they could be marketed as investment grade bonds. Many are implicated in this fraud and the because the SEC stood by and did nothing or was just plain clueless the government... or Securities and Exchange Commission is one of the guilty parties.
MR. Sam
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Participants:  9
Total posts:  9
Initial post:  Mar 14, 2010
Latest post:  Oct 5, 2010

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