americans blame china man for economic meltdown

[Fork Included]

http://www.thestar.com/Business/article/604033

what a bunch of idiots,

long story short, some chinese guy that spent his entire life studying mathematics and living half his life in canada writes a paper with some statistical analysis ideas.

people jump on this shit and raise billions of dollars, then came the housing bubble crash and the system didnt predict for it, all of a sudden people lost money

and they blame the poor guy who had no idea his paper would fuel such action

 

[Low Budget]

Thats funny. Retards. Blaming the guy for his theory. Its not like he told all these institutions to use it.

 

[iCe]

Clintons fault

 

[iCe]

Clintons fault

 

[Low Budget]

Double Post FTW.

 

[jebus]

When you spend more than you make, you fail. It doesn't take an economist to figure it out. People are greedy and stupid regardless where your from.

 

[Steve]

[quote1237410050=jebus]
When you spend more than you make, you fail. It doesn't take an economist to figure it out. People are greedy and stupid regardless where your from.
[/quote1237410050]


This.

 

[Remy]

I thought clinton tried to stop that, apparently he actually balanced the books no?

 

[Hinouchi]

People buying what they can't afford = fail in general
zero down payment to buy a house in US = Fail

 

[OG buckshot jr]

paaaaaaaaaaaathetic. One seriously educated guy writes a paper, then the always-surprisingly-more-idiotic-than-I-thought USA takes it, trusts it with all it's money, system, banks etc etc, and sure enough durrrrr it doesn't work lol

Poor guy, nothing's his fault..

 

[Leroy]

[quote1237417706=Steve]
[quote1237410050=jebus]
When you spend more than you make, you fail. It doesn't take an economist to figure it out. People are greedy and stupid regardless where your from.
[/quote1237410050]


This.
[/quote1237417706]

+2

 

[Kirock]

It's complicated to explain and I seriously don't understand enough of lending/borrowing Economics and it's jargon to even fully understand the articles I've read.

But parts are:

1. Clinton/Dems start it with: "Every person gets a loan" policy. (results in new banking rules etc)
2. Bush/Repubs up the ante with "Every person can own a house" policy (results in more new banking rules etc)
3. When the 6 big banks start losing money on defaulted mortgages they did (here's the part I don't really understand) something like, wrap them up with other investment funds and stuff and sold them to big investment brokers like AIG.
4. Idiots at AIG and similar places FAILED to do their home work and realized too late that they bought worthless debts.
5. A lot of the middle level banks were doing poorly (investments)from a general world wide recession anyway, this mortgage scandal was the straw.

Any one want to enlighten me where I'm wrong, what I'm missing?

 

[iCe]

[quote1237419242=Kirock]
It's complicated to explain and I seriously don't understand enough of lending/borrowing Economics and it's jargon to even fully understand the articles I've read.

But parts are:

1. Clinton/Dems start it with: "Every person gets a loan" policy. (results in new banking rules etc)
2. Bush/Repubs up the ante with "Every person can own a house" policy (results in more new banking rules etc)
3. When the 6 big banks start losing money on defaulted mortgages they did (here's the part I don't really understand) something like, wrap them up with other investment funds and stuff and sold them to big investment brokers like AIG.
4. Idiots at AIG and similar places FAILED to do their home work and realized too late that they bought worthless debts.
5. A lot of the middle level banks were doing poorly (investments)from a general world wide recession anyway, this mortgage scandal was the straw.

Any one want to enlighten me where I'm wrong, what I'm missing?


[/quote1237419242]


wrong bush did nothing of the sort... it was all clinton.. bush failed by not stopping or regulating it

 

[47]

47's formula to success: don't get high on your own supply !

 

[Steve]

[quote1237432766=47]
47's formula to success: don't get high on your own supply !
[/quote1237432766]


Fuck that I get high off my own zips all the time. Just make sure you push enough still to pay for it all.

 

[Shotgun Jesus]

[quote1237433542=Leroy]
[quote1237417706=Steve]
[quote1237410050=jebus]
When you spend more than you make, you fail. It doesn't take an economist to figure it out. People are greedy and stupid regardless where your from.
[/quote1237410050]

This.
[/quote1237417706]

+2
[/quote1237433542]