I'm not sure you can tie Melvin capital to the 2008 financial crisis, but you sure can tie Obama, Barney Frank and other corrupt democrats to this crisis. They refused to audit Freddie Mac and they were the ones with the bright idea to force lenders to relax their credit standards so that any grifter could get a house loan.
Couple that with greedy lenders and brokers, and then bankers who packaged toxic loans in with regular loans and you had a debt bubble ripe for bursting. The big short movie went into this a bit.
There may have been different players but what I was getting at was that it's the same corrupt game. Elites think they can walk all over us again on a mistake they made without consequences. Not this time!!!
It's worked for them so far. Of course in 2008 the bankers lost nothing, getting a huge bailout from the US taxpayer that doubled our national debt in only a month or so time period. (Thanks Obama).
Meanwhile the banks were gobbling up property that they were foreclosing on, but never had to suffer for their bad loans thanks to you and me, Mr. taxpayer.
Bank of America and Wells Fargo even started foreclosing on homes that they didn't own or didn't lend to.
And..... as we learned from the big Short, certain hedge fund managers profited hugely from the mortgage collapse. To do so they had to create these insurance policies called credit default swaps, designed specifically so that they could rob, ultimately, the US taxpayer.
Completely understand. My husband lost his job in 2008, (59yo) and never really recovered. He was "too old" but of course they wouldn't say that outloud.
Yeah but the difference between them and us is their solution is communism. Or some type of social government where its all "guaranteed to work". Reasons why I still can't take any of their attitudes seriously.
Hits me in the gut! I am sure there are many other stories like this.
https://old.reddit.com/r/wallstreetbets/comments/l6omry/an_open_letter_to_melvin_capital_cnbc_boomers_and/
There are THOUSANDS on this one post alone and they are PISSED!!!!
I'm not sure you can tie Melvin capital to the 2008 financial crisis, but you sure can tie Obama, Barney Frank and other corrupt democrats to this crisis. They refused to audit Freddie Mac and they were the ones with the bright idea to force lenders to relax their credit standards so that any grifter could get a house loan.
Couple that with greedy lenders and brokers, and then bankers who packaged toxic loans in with regular loans and you had a debt bubble ripe for bursting. The big short movie went into this a bit.
There may have been different players but what I was getting at was that it's the same corrupt game. Elites think they can walk all over us again on a mistake they made without consequences. Not this time!!!
It's worked for them so far. Of course in 2008 the bankers lost nothing, getting a huge bailout from the US taxpayer that doubled our national debt in only a month or so time period. (Thanks Obama).
Meanwhile the banks were gobbling up property that they were foreclosing on, but never had to suffer for their bad loans thanks to you and me, Mr. taxpayer.
Bank of America and Wells Fargo even started foreclosing on homes that they didn't own or didn't lend to.
And..... as we learned from the big Short, certain hedge fund managers profited hugely from the mortgage collapse. To do so they had to create these insurance policies called credit default swaps, designed specifically so that they could rob, ultimately, the US taxpayer.
Bernanke is involved again
Completely understand. My husband lost his job in 2008, (59yo) and never really recovered. He was "too old" but of course they wouldn't say that outloud.
You're both in my thoughts and prayers, ma'am.
Thanks ;)
Reddit is DS controlled.
They will nuke this thread.
Yeah but the difference between them and us is their solution is communism. Or some type of social government where its all "guaranteed to work". Reasons why I still can't take any of their attitudes seriously.
I'm a story like this. Fuck them.