andrewducker: (Default)
[personal profile] andrewducker

Date: 2008-10-08 04:37 pm (UTC)
From: [identity profile] nancylebov.livejournal.com
Another Frightening Show about the Economy is even more impressive (and scarier--the mortgage mess is only a medium-sized part of what went wrong), but there doesn't seem to be a transcript yet.

Date: 2008-10-08 07:10 pm (UTC)
From: [identity profile] nancylebov.livejournal.com
There's a reason I want a transcript for that second show-- I didn't assimilate all of it on the first bounce.

However, part of the problem isn't just that there are bad mortgages. Apparently, there was some HUGE amount of money (or possibly fairy gold) bet on which way investments would go. Generally, it was bet on investments people didn't have by people who couldn't cover the bets. This, plus the mortgages, meant that so much confusion has been injected into the financial system that the companies which make the short term loans that business is highly dependent on have panicked (they're a risk-averse bunch) and aren't doing that lending.

My impression is that the fairy gold betting involved more money than the mortgages.


"You can print money, but you can't print trust". (Sorry, no source.)
Edited Date: 2008-10-08 07:11 pm (UTC)

Date: 2008-10-08 09:02 pm (UTC)
From: [identity profile] nancylebov.livejournal.com
I still don't get why reliable commercial borrowers who aren't in the financial industry are having so much trouble getting money, though.

Date: 2008-10-09 12:02 pm (UTC)
From: [identity profile] pennski.livejournal.com
Having just read the article, I'd put it down to the total swing in approach. "Safe - how safe? We don't want normal safe. We want really really really safe." That sort of attitude.

Date: 2008-10-08 10:40 pm (UTC)
darkoshi: (Default)
From: [personal profile] darkoshi
There's a problem with the water-painting link.

Date: 2008-10-09 08:44 am (UTC)
From: [identity profile] 0olong.livejournal.com
TinEye should be really cool once it's done some more indexing, but I'm disappointed that it's so far unable to find any of my images that I know have been reproduced on other web sites...

Date: 2008-10-09 12:03 pm (UTC)
From: [identity profile] pennski.livejournal.com
Thank-you for that last link. I now understand how and why the situation built up in more detail than the vague "greed and stupidity" understanding I had before.

September 2025

S M T W T F S
  12 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 1920
21222324252627
282930    

Most Popular Tags

Style Credit

Expand Cut Tags

No cut tags
Page generated Sep. 20th, 2025 08:23 am
Powered by Dreamwidth Studios