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  1. #51
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by Modern Nomad View Post
    I agree that the Greenspan days led up to this problem, my gawd. that guy lied thru his teeth to congress that one time to protect his legacy at the cost of the entire usa... damm ayn rand philosophy... but i think there is one more systemic issue. the wall between i banking and commercial is gone. the commercial banks want to lower their BIS ratios and get loans off their books, and the ib guys want deal flow and package loans into credit investment vehicles. and the lawyers are more than happy to opaque the hell out of the products. having both commercial and ib under one roof... its too tempting to do this all over again later...
    I highlighted the important portion of your post. Do this all over again? As I stated before, the reason the situation is so bad is because the Fed distorted market signals. If the Fed didn't do that, banks wouldn't have gotten into the trouble they're in.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  2. #52
    mountain surfing nomadic's Avatar
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    Quote Originally Posted by Lateralus View Post
    I highlighted the important portion of your post. Do this all over again? As I stated before, the reason the situation is so bad is because the Fed distorted market signals. If the Fed didn't do that, banks wouldn't have gotten into the trouble they're in.
    a lot of people got screwed in latter 2005-2006 who called it early...

  3. #53
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by Modern Nomad View Post
    a lot of people got screwed in latter 2005-2006 who called it early...
    You're not getting it.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  4. #54
    mountain surfing nomadic's Avatar
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    Quote Originally Posted by Lateralus View Post
    You're not getting it.
    bond traders have been calling it for years now. its the equity guys who were late to be honest. the yield curve inverted early 2006

  5. #55
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by Modern Nomad View Post
    bond traders have been calling it for years now. its the equity guys who were late to be honest. the yield curve inverted early 2006
    Eh, you didn't even need to analyze yield curves to predict any of this. Just read up on monetary theory.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

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