Let me repeat myself:
It seems pretty clear to me.I found this at crashopedia. There seems to be plenty of documentation. If you don’t believe it, I don’t know what to say. If you think banks holding too much sub-prime paper is what caused it, please explain why. How much were they holding and how much did it decline? What part do you think derivatives played in this and if you think none, why are all thes people sayingthatit did??? Why did AIG go down the tubes and Lehman Brothers down the tubes?
You’re asking questions and I am giving you the sites where I have done my reading. If you have a different idea, please set it forth. Give me some cites and I will read yours.
In the meantime, it looks to me like I have answered your questions.
parsy, who wishes you weren’t so passive-aggressive
Documentation of what? That deregulation caused the crisis?
If you think banks holding too much sub-prime paper is what caused it, please explain why.
You don't think sub prime loans were a big money loser? A driver of higher real estate prices? Did you ever wonder why big banks held so much of that paper?
What part do you think derivatives played in this
What do derivatives do exactly? They don't lose money to a big hole in the sky.
You’re asking questions and I am giving you the sites where I have done my reading.
Giving me sites with dozens of links in response to my question isn't a great help.
parsy, who wishes you weren’t so passive-aggressive
I'm wishing you didn't regurgitate the MSM line with no back up.
If you have a different idea, please set it forth.
Here's my idea. No banks were brought down by their investment bank division. No investment banks were brought down by their banking division. So much for Glass Steagall.
Derivatives weren't regulated before, so their deregulation didn't cause our problems.
Keep looking for that good old regulation that was erased that would have prevented this mess.