Origins of the credit crisis

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[quote author="awgee" date=1223293462]Ok, this is where I said "I told you so". I have been warning about CDSes for two years. I have been telling you we will have massive bank failures. I have been telling you that re prices will fall much farther in real vs. nominal dollars because the dollar will devalue greatly and folks will not be able to afford to buy cheap housing. I have been telling you there will be a credit freeze. I have telling you the Federal Reserve will flood the markets with dollars. If you doubt it, go back and read when I started posting. And I am going to tell you something again. Paulson will not be buying mortgages or loans. He will not be buying MBS that are bundles of mortgages. Paulson will be buying the equity tranches of CDOs. And they are close to worthless, and will be completely worthless in a couple of years.



This is not, and has never been a subprime crisis.

This is not, and has never been a housing crisis.

This is a debt/credit crisis. And there is no way to fix it. Government intervention will only prolong the agony and make it worse in the long run. Manipulation of interest rates by a government charted Federal Reserve is the cause.</blockquote>


awgee - I'm taking you with me the next time I need to talk with a seller regarding a listing price reduction. Panda, you're in the bullpen, although I'm not sure I'd get a question in, edgewise, if it came to that.
 
[quote author="awgee" date=1223293462]



Ok, this is where I said "I told you so". </blockquote>


Graph and I were discussing this a week ago or so. You've been right about everything else, and you're right about this.



You're still a nutter, but you're right, and that's worse.
 
[quote author="no_vaseline" date=1223294179][quote author="awgee" date=1223293462]



Ok, this is where I said "I told you so". </blockquote>


Graph and I were discussing this a week ago or so. You've been right about everything else, and you're right about this.



You're still a nutter, but you're right, and that's worse.</blockquote>


Go to the thread, "Financial Bubbles: Common Sense or Sophisticated Concept" in "Irvine Real Estate".



I just bumped it. It is scary.
 
<em>Go to the thread, ?Financial Bubbles: Common Sense or Sophisticated Concept? in ?Irvine Real Estate?.



I just bumped it. It is scary. </em>



awgee's <a href="http://www.irvinehousingblog.com/forums/viewthread/63/">link</a>
 
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