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

untilAugust 07 when lenders began making collateral calls & demanding collateral fire sales at discounted prices. This panic meant the value of all types of bonds declined, trillions of bank capital evaporated and the REPO Market collapsed. This means, if not for the Stimulus, double the nightmare. Still think we have too much gov? I don't. So $20 Trillion compared to $1.2 Trillion. Can't compare the two. So the BS about people buying homes they could not afford was a BIG ASS LIE. Read people.

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

Below, as i was stating. The Money Market Funds & Junk Bonds, took all the profit away from banks. So banks began securitizing loans to regain lost profits. The REPO market of interbank loans had always existed, but grew rapidly in the 90's to support securitization. But since there was no deposit insurance for loans measured in millions, counterparties demanded collateral to back these overnight REPO loans. DURING THE SUBPRIME MORTAGE CRISIS IN JAN 07, the ensuring bank panic didn't happen.....

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

I knew rumors always gets people without research. THE SUBPRIME MESS WAS NOT DUE TO PEOPLE NOT AFFORDING HOMES. That was only a $1.2 Trillion mess. Coming from a company that is $20 Trillion in profits. This come from the National Bureau of Economic Research. The company is called Renew Sale & Repurchase & (REPO). It is an unregulated, uninsured business. Still think we have too much government? I don't. This gets better. Due to the Money Market & Junk Bonds in the 80's. Cont.................

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

Look at this about 300 000 000 $milpop com

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

Too bad the sound isn't sync

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

It is very funny ... and also very sad, as we're loughing on our very own doom...

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

hahahaha sheeple

casper18nyc (November 30, 1999 at 12:00 am)

1) "THE OBAMA DECEPTION" LOOK IT UP 2) ZEiTGEiST - THE MOVIE 3)NORTH AMERICAN UNION & RFID Chip TRUTH! Must SEEsome serious shit!!!

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

The problem is not money as debt per se, but money as interest-bearing debt. It is the interest that must be paid for these worthless pieces of paper backed up by nothing at all that is the core of the problem.

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

What is it with you people. This guy is playing the part of a stuck-up, ignorant banking a-hole who would say such a thing. He is ACTING. If you perceive it as racist then you are the one with the problem.