GREY:RGVNF - Post by User
Comment by
dogoneon Oct 22, 2010 5:15pm
175 Views
Post# 17601029
RE: RE: RE: RE: Thanks Bill, Barney & Sub Prime
RE: RE: RE: RE: Thanks Bill, Barney & Sub Prime" If you will recall, all of this started in late September 2008. In October, the market began their free fall."
that is the date when the avalanche reached the bottom of the hill...sorry Next but it started way before that.
Sub-prime lending started at the beginning of Clinton's admin, when they felt it important that every one could and should own a home.
the bottom fell out because the economy stalled for numerous reasons and these folks didn't have the income to pay their bills .. hence fall of the mortgage market etc .. you have to do some digging but that is where the answer is.
another example is GM's bail out .. cause=their ever increasing pension fund...what started many, many, amny years ago as a great benefit worsened when people started living longer ..and GM couldn't sell enough cars to overcome operations burdened by the pension program
saying that everything started in 2008, is the same as 9-11 was the "first incident" ....