House of Cards.

[Hugo Chavez]

very interesting investigation here.  Several angles I haven't seen done.

CNBC presents the definitive report on the defining story of our time. CNBC correspondent David Faber investigates the origins of the global economic crisis, with first person accounts from home buyers, mortgage brokers, investment bankers and investors – most of whom let greed blind them, leading to the greatest financial collapse since the Great Depression.

Part 1

Part 2

Part 3

Part 4

Part 5

Part 6

Part 7

Part 8

[Hugo Chavez]

greenspan's asscoving in this is laughable.  He basically says congress would have been pissed and unemployment would have shot to 10% if they moved against the subprime party.  so his hands were tied to going along with it

[MRDUMPLING]

Yeah...I watched that.  Very well done, and you're right about Greenspan.  Then again, he brags about his "Greenspeak", where he answers questions without answering on the subject at hand.  What a douche...how is this guy not being investigated?  The CTer in me wonders about the Federal Reserve LOL.

That was smart with that one guy buying up credit insurance and just sat back waiting for the market to collapse.  It goes to show the extent of American Greed by the banks and how the people were duped into signing a contract.

Did you see the part where one bank used the DEAD husband's income for a loan for that one lady?  Disgusting

[Hugo Chavez]

Yeah...I watched that.  Very well done, and you're right about Greenspan.  Then again, he brags about his "Greenspeak", where he answers questions without answering on the subject at hand.  What a douche...how is this guy not being investigated?  The CTer in me wonders about the Federal Reserve LOL.

That was smart with that one guy buying up credit insurance and just sat back waiting for the market to collapse.  It goes to show the extent of American Greed by the banks and how the people were duped into signing a contract.

Did you see the part where one bank used the DEAD husband's income for a loan for that one lady?  Disgusting

yea and first this guy went around and tried to warn people and then decided to cash in since nobody would listen.  amazing.

[MRDUMPLING]

I laughed because I couldn't blame the guy.  I love how he went to Bear Sterns and they told him, "you worry about your risks, and we'll worry about ours."  I wonder who is hurting now?

[Hugo Chavez]

I laughed because I couldn't blame the guy.  I love how he went to Bear Sterns and they told him, "you worry about your risks, and we'll worry about ours."  I wonder who is hurting now?

yup and also disturbing that all these guys packaging these loans were kids.  That was a big part of the problem that they were allowed to package them as AAA investments.  If that stage didn't happen, the investor demand wouldn't have been there and guys like that jackass who made the red line movie wouldn't have been able to close all those bad mortages he was.  Now the only way you control that is with the appropriate regulation which I know bindare will cringe at but for greenspan to say it's not possible to make sure risky shit isn't packaged as a AAA investment is wrong.  It can and should.  For one thing, it's outright wrong to allow avenues for fraud.  Passing high risk as AAA is fraud.

[Soul Crusher]

This is why I could care less if Wall Street burns to the ground.  They caused this disaster and no one has gone to jail. 

[MRDUMPLING]

This is why I could care less if Wall Street burns to the ground.  They caused this disaster and no one has gone to jail. 

That's honestly the scary part...no one is being held accountable.  Yes, even my conservative side believes there should be some sort of regualation for all of this.  That is definitely fraud Hugo.  The free market works to an extent...you have to have some sort of regulations that are ENFORCED so that capitalism doesn't consume itself.

[Soul Crusher]

That's honestly the scary part...no one is being held accountable.  Yes, even my conservative side believes there should be some sort of regualation for all of this.  That is definitely fraud Hugo.  The free market works to an extent...you have to have some sort of regulations that are ENFORCED so that capitalism doesn't consume itself.

Without the threat of jail or bankruptcy, what is to stop anyone from scheming, stealing, and defrauding billions of dollars?

[MRDUMPLING]

Nothing, absolutely nothing.  As we know though that's the point. 

I wish I could have a bailout...LOL

[Butterbean]

yea and first this guy went around and tried to warn people and then decided to cash in since nobody would listen.  amazing.

Do you remember his name or which vid he is in?  I don't have time to watch them all right now.

[JOHN MATRIX]

lets just handle this the way every other state has handled these issues since the beginning of time, just round up all the high offices of all the banks/institutions/automakers or anyone else who pays themselves millions a year while screwing thousands,  pillage their estates and distribute the money to the public, then publicly execute them.

[shootfighter1]

oversight is not a bad thing when it is applied fairly and to protect the people in a free market.  obviously these brokers were out of line.

anyone talk about barey frank?  (i didn't watch them all).
This crisis is multifactorial.  Additionally, people should not agree to adjustible rate mortgages and loans that they knew they couldn't afford...thats personal responsibility, which is lacking in this society. 

so this first idiot makes $900 per week and buys a near $600,000 house?  Then lies in documents saying he makes more to justify the excessive loan?...we're supposed to feel sorry for him and bail out his motgage?  bullshit.  fool.  He and the broker should be charged...thats fraud.  He looses the house, some wages should be garnished and the house goes into bank foreclosure.

[Soul Crusher]

Sell them at auction for whatever they go for.