ZenChat (November 30, 1999 at 12:00 am)

I did not understand :(

residentzombie (November 30, 1999 at 12:00 am)

If anyone shorted this BBB- trauch back then, they made a small fortune. I would say it will happen again.

residentzombie (November 30, 1999 at 12:00 am)

No, government has made finance way, way too complicated.

ThoughtCriminal912 (November 30, 1999 at 12:00 am)

Its designed in this way by the elite for the elite. Actually its very simple as is law but the make a lot of mumbo jumbo to make it look complicated. Same shit goes for a lot of things like whitepapers in IT.

schnappy00 (November 30, 1999 at 12:00 am)

People have made finance way, way too complicated.

robtherub (November 30, 1999 at 12:00 am)

they call them asset backed securities in the uk, like a debt is an asset, and secure

jxh261 (November 30, 1999 at 12:00 am)

You know whats really fucked up? The same people who gained from writing people bad loans knowing they couldn't pay made money before the bailout made money during bailout and they're still making money doing the same fucking thing. All the while the American workers wages have decreased for 30 years and the banks are profiting from it.

anolmec (November 30, 1999 at 12:00 am)

PRIME RATE has ALWAYS referred to the INTEREST rate a bank charges its most credit worthy customers. SUB-PRIME would be a rate below that...The term SUB-PRIME has NEVER been used to describe the CREDIT RATING of a borrower. "SUB-PRIME BORROWER" was coined to hide the FRAUDULENT MORTGAGES the banks sold. A securitized mortgage is a FRAUD.goog livinglies

frugalite (November 30, 1999 at 12:00 am)

This Steve Leisman douchebag was arguing against Peter Schiff passionately on a show back in 2004 when Pete was trying to explain the coming housing debacle 3-4 yrs ahead of time. It's easy to try to explain things after they happened, Isn't it Steve?

mattt1ooo (November 30, 1999 at 12:00 am)

BANK OF AMERICA IS THE MOST CORRUPT BANK IN THE COUNTRY!. Bank of America harassed me, ruined my credit, charged me over $800 in fees over a 10 day period, tried to humiliate me, and never stopped calling my house- all because of $50 overdraft!!In one day I was charged over $250 in overdraft fees because of a company that took advantage of my bank account- BofA charges more fees than any bank in the World!