[Founding Father]

Well the Shrub administration gets a super large assist. they did nothing to enforce the laws.

[1rudeboy]

The Bush Administration, and Alan Greenspan for that matter, warned us. But we were too busy sitting on our fat asses to do anything about it. The WSJ would have an article every other day about the risk, and I would post it here. Three comments, tops. So I stopped posting them.

Interesting what a hindsight of ten years can do.

[MichaelRDanger]

Wrong...

Go back and check the data: At the very beginning of July 2008 oil prices per barrel were nearing $150 and the exchange rate of the euro to the dollar was nearing 150. During the first week of July both concurrently began to drop sharply. When oil suddenly goes from the 150’s down to the 30’s that’s a huge drop in value. If a bank is holding a lot of oil and euro as assets and both take a hit simultaneously than billions can turn into millions.

“That” is what triggered the banking crisis. Now the question remains: what caused oil and the euro to bubble and burst? Some say micro-economic turbulence caused by the disparity between the dollar and the yuan...