"The Big Short" - Must reading for all Americans

Discussion in 'News / Current Events' started by Crabtownboy, Mar 18, 2010.

  1. Crabtownboy

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    There was a small group of investors who saw the collapse of the economy. The saw that what the big banks were doing would end in disaster for the country, so they shorted the system and made millions upon millions of dollars. Interestingly, as is described in the book, they were glad to be on the right side of the market, making money, but were very unhappy that a financial meltdown was coming. So, as they were making money they were screaming to the Bush Administration, the Federal Reserve and others in the government that they had better act else a financial meltdown. As we know no one listened and we had the meltdown. This book is an investigation of those who saw what was coming and the meltdown.

    Has the government made the necessary corrections? They say no, it has not and that another meltdown is in the future if Congress does not enact the proper regulations reigning in the big banks and derivatives. This is a book everyone should read.
     
  2. Bro. Curtis

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    If you have read it, perhaps you could summarize what the book says about G.W. Bush's attempts to privatize Social Securtity, and his attempts to reign in Fannie Mae & Freddie Mac, and the actions led by democrats in congress to thwart those attempts.
     
  3. Crabtownboy

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    Read the book my friend and find our for yourself. By the way I sure am glad he failed as privatizing Social Security. Remember what the market did to 401K accounts. Can you imagine the blood that would be on the floor if peoples SS had taken such a hit? He did nothing to reign in his friends in the big banks.
     
  4. billwald

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    This morning the US dollar was almost at par with the Canadian dollar, our largest trading partner. It is falling against the pound and euro yet the "experts" say the euro will crash (first)? One can still short the dollar . . . .
     
  5. matt wade

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    Have you read the book yourself? Why can't you summarize these items as Bro. Curtis requested? Why post about this book if you are unable or unwilling to talk about it?
     
  6. Bro. Curtis

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    So in other words, either you have not read it, or the book is completely dishonest about it. 401 accounts are not the same as private accounts, as they are not managed by the owner of the money. Those who trust others to watch their money take risks. There can be no honest comparison between the two examples. But we have grown used to your ways, here. I don't expect honest debate when I respond to one of your threads.

    Either way, no thanks. I have no use for propoganda. Have fun with it.
     
    #6 Bro. Curtis, Mar 18, 2010
    Last edited by a moderator: Mar 18, 2010
  7. sag38

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    What do you know, another it's W's fault thread from Crabby. I'll be sure to read it. Not!
     
  8. targus

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    Still handing out homework I see.

    An individual could have put their retirment savings into a lot of other vehicles than the market.

    And in case you haven't heard - this is the year that the SS system goes to a negative cash flow.

    Bush went to Congress about the impending problems - that Carter created and Clinton exasperated - but your buddy Dodd insisted that their was no problem - and the Dems ignored it.

    And the Dems are back to pushing the banks into loosening lending to those who have no business borrowing. They haven't learned anything.

    For someone who claims to read as much as you do you are sorely out of touch with recent history and current events.
     
  9. sag38

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    I have been participating on the Baptist Board for a little over two years. And, I'll have to say that Crabtown Boy's obsession with and hatred of George W. Bush has been one of the most entertaining aspects of my participation.
     
  10. matt wade

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    So, Crabby, we are still waiting, have you read the book?
     
  11. Crabtownboy

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    This was not an anit Bush post. I simply said the administration, Congress and other federal agencies ignored the warnings these people gave them.

    Other people write good reviews. I do not have time to do so, nor am I as goo a writer, ... so read the following:

    http://www.washingtonpost.com/wp-dyn/content/article/2010/03/12/AR2010031202291.html

    http://www.huffingtonpost.com/kathryn-schulz/review-michael-lewiss-emt_b_504796.html

    http://www.bookforum.com/review/5322
     
  12. matt wade

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    We aren't looking for a review from you and we'll excuse your not being a good writer. Again, why bring up a book if you won't discuss it with us? Why can't you answer the questions Bro. Curtis posed?
     
  13. Crabtownboy

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    I will discuss it with you. I won't write a review. If you are too lazy to do a bit of research on your own ... well there is nothing I can do about that.

    So, do some work, be quick. I am flying to CA tomorrow. Oh, and happy news to the wild fanitical right wing party of NO sympathizers, I will be out of touch all next week. :laugh:
     
  14. matt wade

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    Ok...let's discuss it. Like I said, I'm not looking for a review. I'm coming to the guy that recommended the book and I am looking for an answer to some questions.

    What does the book say about Bush's attempts to privatize Social Security?

    What does the book say about Bush's attempts to reign in Fannie Mae & Freddie Mac?

    What might the book say about actions led by democrats in congress to thwart those attempts?

    You've recommended the book and posted it here for discussion. Bro. Curtis and I are attempting to engage you in discussion and all you keep doing is telling us to go off and read about it somewhere else. Why bother posting it here at all if that's the way you are going to play?
     
  15. targus

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    In the OP you said "they were screaming to the Bush Administration".

    The Bush administration did NOT ignore the warnings.

    The Bush administration went to Congress several times about the problem.

    It was the Democrats - led by Dodd - that denied and ignored the problem.

    I find it funny that you lecture others about reading up on a topic of which you obviously are so grossly uninformed - or are deliberately lying about.
     
  16. targus

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    Hey - no fair !!! :laugh:

    He didn't say that he read the book.

    He just likes to cut and paste anything that he thinks makes Bush look bad.

    Cabby is just the Baptist Board version of the crazy uncle in the attic that Obama talked about. :laugh:

    Like Obama said - nobody really listens to him - we keep him around because he's part of the family. :laugh:
     
  17. Crabtownboy

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    The Bush administration went to Congress several times about the problem.

    It was the Democrats - led by Dodd - that denied and ignored the problem.[/quote]

    What caused the crash?

    The current Congress has not done enough. Unless they do make serious regulations limiting derivatives there will be another meltdown. I do not see any constructive ideas from either party at the moment. They are allowing the big banks and big contributors to call the shots and that is not good.
     
  18. rbell

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    Wow...another thread by CTB that...

    ...assigns homework (instead of discussing an issue he brought up);
    ...bashes Bush (and gives any and every democrat a free pass, no questions asked);
    ...engages in intellectual dishonesty.

    Shall I fall over dead from "not surprised?"
     
  19. targus

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    What caused the crash was the Democrats forcing banks to make loans to borrowers that were not credit worthy and then allowing the loans to be packaged and resold to Fannie Mae and Freddie Mac so that Dodd could get his sweet below then current rate mortgages.

    Who doesn't understand that by this late date?

    The Dems are back to pushing the banks into lending to borrowers that are not credit worthy.

    This was and continues to be a Democrat created problem.

    And in case you failed to notice - the Dems are in complete charge of government currently.

    Anything idea or suggestion that comes from the Republicans is roundly denied.

    You should have a perfect understanding of the concept - it mirrors your own attitude towards the Republicans.
     
  20. matt wade

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    Crabby...have you read the book?
     

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