The 2008 moneygeddon was in large part the result of W's moronic push to increase home-ownership among spics and niggers

upi.com/Bush-pushes-minority-home-ownership/31761034720223/


Why am I only just now finding out about this?
How the fuck can this not have been a major topic of conversation during the past decade?

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fortune.com/2012/11/21/untangling-the-derivatives-mess/
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There was a whole obsession back then with home ownership being a sign of prosperity, which was a cover for a ponzi scheme.

What it meant is giving massive loans to people who were unlikely to pay them off with it all underwritten by big companies. The idea was that the (((bank))) cod resell the house to somebody else when they foreclose, but since housing was going up, you'd make money on the deal. This is about as hooknosed as it gets.

At some point, naturally, it got insane and the bubble burst, and then it was another shoah and the federal government did the massive bailouts of the pyramid scheme.

The minorities were just a reliably shitty buyer who would lose the house after paying for it upfront with a federal handout.

I thought everyone knew that was the cause of the mortgage crisis?

'Sub prime debt' basically means a mortgage given to non whites who wont pay it back.
The banks were bunding white (prime) debt with non white (sub prime) debt and then selling it to each other so by the end they didnt even know what the race of the people was who owed them money was.

It was under different framing. It was mentioned in the Inside Job doc. Barney Frank advanced his Dodd-Frank finance bill bc its raycis nonwhites with credits that even whites get declined for get declined. These colored were easy marks for banking vultures.

das raycis
goy

How did I never make this connection before? I actually bought the media's pure economic framing. Fuck I'm stupid.

That’s evil.

Because you were a toddler in 2008.

banks were forced to give loans to niggers and wets that couldn't get approved for them.

It was already happening well before GWBush.

I picked up on it in 1995 when Fortune magazine did a big cover story on derivatives. Derivatives used properly are necessary for running vast enterprises over long periods of time. The problem is that the entire system has been totally and deliberately corrupted. Those mortgages to people unable to pay for them were deliberately created; they're known as Adjustable Rate Mortgages. ARMS. They appear to be ruinous to banks and they are but that's irrelevant; the mortgage paper, the debt paper is sold upstream and bundled into tranches that form the basis for derivative paper.

Derivatives are sold as "structured bonds", even as "securities" but they're not. They're financial instruments but there is nothing there to secure them. They're definitely not bonds since nothing is bonded.

They're complex gambles on future behavior of markets and commodities. They're sold on the basis that they're creating financial stability but the fact is they're exponentially increasing financial instability.

Nobody describes the phenomenon better than Frank Partnoy in FIASCO.

There's about 1,500 trillion dollars worth of derivative contracts out there at any one time. There's only about 135 trillion worth of stuff on the entire planet, including oil fields, gold mines, cities, etc etc.

A lot of shills will now rush in to say that this isn't a problem because those derivatives gambles are hedged against each other and just get extinguished after a certain date without anyone losing anything.

This is a lie. The hedges only work if both counterparties to the hedge are capable of paying up on the gamble. If one of the parties cannot pay up the entire system collapses like a house of cards. That's what happened in 2008 when the US taxpayers were forced to fork over $27 trillion to bankrupt financial institutions that were no better than gambling institutions.

Now you well might ask why create such a system?

Simple; pension funds have strict rules about investments. By camouflaging a huge bubble of crazy gambles made up of paper lottery tickets that represented nothing but paper Wall St was able to disguise this scam as "securities" and "bonds" mainly based on all those rotten mortgages to niggers and illegal aliens that they could never pay off when the real cost of that debt came due, usually after 5 years. They could fob those derivatives off on pension funds and swindle them

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fortune.com/2012/11/21/untangling-the-derivatives-mess/

Here's an early article on the derivatives mess.


I wish I could find the 1995 Fortune magazine article on Derivatives. It documented what happened at Siemens, but it was applicable to what happened at Barings bank and frankly all the other "zombie banks".

Siemens is a high tech company, chemicals, electronics, medical instruments etc. It's one of the biggest and most advanced companies in Europe.

Now when you run an industrial enterprise you need to buy futures for some very good reasons. When you plan and budget for future running and development costs of the company you need to be able to lock down your expenditures so you can plan properly, not suddenly find yourself in a cash crunch.

So what you do is you buy futures contracts on raw materials, on electricity, etc. You can lock down vast amounts of materials for fractions of pennies on the dollar. When the contract to buy or sell that thing comes due it extinguishes. Now the price might go up or it might go down, so it's worth buying multiple futures contracts for these multiple eventualities.

Siemens established a sector in the company to buy and trade futures. At first it was just a small office but silently it grew. Even the executive suite wasn't aware of what these quants were doing with their mathematical algorithms and computers. They thought they were just running a company that produced real products and being prudent and efficient. The futures trading sector of the company was growing like cancer in its guts however so that silently it became far bigger than the productive part of the company itself. Like 95% of the business. Overnight and mysteriously Siemens went from being a manufacturing company to being a high risk hedge fund.
Same thing happened at GM, at GE and all the other companies.
Nobody could understand what the futures traders were doing. Even Warren Buffet proclaimed he couldn't understand it.

When Siemens crashed as a hedge fund it created a vast financial black hole that almost sucked down the entire economy of Europe and the world.

House = loan interest that equals the purchase price over the life of the home = property taxes that equals the purchase price over the life of the home = a racket.

Peter Schiff was predicting the ARMS collapse and the 2008 crisis for years.

BTW nothing has been fixed.

I'd say Art Laffer should be castrated but he doesn't have any balls to cut off.

Bill clinton is the one who pushed homes on niggers and spics. It simply collapsed under bush you retards.

So you might be saying; "what do adjustable rate mortgages have to do with derivatives?"

There are bond rating companies; Standard and Poors and Moodys.

They rate securities and bonds in particular. Historically the most solid debt paper has been mortgages. American and Canadians are very good about paying their debts. If you have the wherewithal to get the downpayment and can prove that you can afford the mortgage payments then 99.9% chance you'll pay that mortgage off. It's the most important financial transaction most people will undertake in their lives.

But under Bush Sr and Clinton all the strict banking rules and mortgage rules that were brought in under FDR during the depression were dismantled by THE KIKENVERMIN!!.

And this is why they wanted to let illegals in; they were giving illegals drivers licenses, credit cards AND MORTGAGES.

There was no way a cleaning lady could afford the mortgage or down payment on a $300-$500k house ever.

Not a problem. Sell Esmeralda that house with NO downpayment and a monthly adjustable rate mortgage of oh… $350 a month for the next 5 years, the price of her rent. Esmeralda doesn't have any clue what she's signing, nor does Shaniqua. They're just ecstatic that they're moving into a beautiful new dream house on a brand new suburb. Fuck it go buy an SUV to put on the driveway. No down payment and $150 a month for 5 years.

Ah but they're ADJUSTABLE RATE MORTGAGES. In five years the REAL mortgage payment comes down like an axe on their necks and now they have to come up with $1500 a month for the house and $650 a month on that aging broken down SUV her husband is driving to death as an UBER driver.

Bankruptcy looms?

Not a problem.

Just pack up and leave. Go. Fuck it mang not our problem.

But the bank doesn't care because it sold that now foreclosed mortgage upstream to the hedge fund in NY Shitty.

And the jews at the hedge fund don't care because they've already sold those "Structured Bonds" to the doofus running the Orange County pension fund for big bugs. Those jew billionaire hedge fund managers are relaxed on teh riviera fucking teen whores and snorting coke off their tits. Orange County has a problem though, as do the pensioners depending on their pensions to live.

Those "Structured Bonds" with AAA rating from Moodys and STandard and Poors because they contained a 1% component of mortgage paper are FUCKING WORTHLESS.

Taaahahahahahahaha!

SUCKED IN GOYIM!
ONCE AGAIN THE AUDACIOUS JEW HAS FUCKED YOUR ANUS BLOODY BUDDY.

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joke's on you i spend all my money on gold, guns, ammo, and food

Joke's not on me either; I saw the crisis coming back in the 80's and 90's and I got my ass in gear. I'm doing quite fine thanks.
I got to watch better men than me faceplant hard though. One guy had it all, a beautiful wife, two sons a fantastic house. I truly envied him. He wound up parking his car on a level crossing in front of a speeding freight train when the job went south and he couldn't make his mortgage payment and they lost all their equity in a collapsing housing market.

Life is a bitch and then you die.

His beautiful wife was rather cold blooded about it I must admit. When she quickly found a new husband she informed her two little 4 and 5 year old sons; "now you've got a new daddy".

Sweet…

I cannot understand why they need mortgages to buy the expensive houses when they can find the dirty cheap old houses across USA. I guess they don’t want to live frugally.

Frugally? Are you kidding me?
We're talking about people with sub 80 IQs here. Compound interest might as well be nucular physics as far as they're concerned.

They watch the TV and they see all these beautiful people living magical lives in wonderful homes. That's how you live. That's how everybody lives. And the nice man (or lady) at the bank can make it happen. And even the President of the USA says it's GOOD that everyone should own their own home. That's the AMERICAN DREAM. (Well no it's not. Better get back to Benjamin Franklin on that for further consultations.)

And the illegal spic that Jerry Brown is rolling out the red carpet for, sheet mang he busts the cherry on his 10 year old niece and then chuckles about it while he sips his beer. You want to go visit him and discuss virtue??


I just don't see how we're going to get out of this ugly place we're in when all the white people who should be intelligent enough to know better only want to go play golf and then have a sandwich.

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Rock bottom is different for everyone, user. You already hit it, so did I. Some people won't hit rock bottom until a muslim has a rifle barrel in their mouth.

I get your point that USA is a idiotocractic nation but there is so many foreclosures and the government would have fix that problem but they failed to.

Not a toddler but not yet redpilled.

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OP was barely a stain in his mother's panties at the time therefore it never happened. We need age verification to post on Zig Forums

I'm well aware of the corrupt business model of taking on septic loans only so they could be passed on upstream to kikes bundling those noxious mortgages into layer cakes of shit upon shit rebaged as "premium grade ultrasafe investment opportunity" but what's been missing from my understanding of events up until now is that "sub-prime mortgage" is little more than code for "shitskin mortgage"

Blanket label suggests model minorities ie conniving chinamen and pajeets can't use the law gainfully. It is a result of underrepresented minorities in such lingo.

They were forced to cut back on the ARMS after the big catastrophe exploded in their faces but now it's come back in the form of Adjustable Rate Car Loans. This has several outcomes for the big jews.

1. It pumps up the auto industry unnaturally.
2. It acts as a subsidy to UBER and LYFT.
3. Once again, debt paper for the OTC derivatives "market".
4. It gives employment to the millions of illegal immigrants flooding the USA through UBER and LYFT while screwing US owned cab companies that paid a shit ton of money for their cab licenses.

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Jews are so shameless.

I dunno about that; this board seems to me to be fundamentally historical, and educational, so that there's nothing wrong with a young person coming here and asking about stuff he was too young to witness. 911 for example. Yes we're bored repeating the same incredible stories and photos and videos about it. Hell I'm JFK'd to death but put a JFK thread out there and I can't help posting my ass off in it. We have to keep the past alive, the criminals cannot be allowed to slink away obscured by the blowing sands of time.

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This is happening globally.
Jewish startups allowed to evade taxes and regulations with the end result being the collapse of indigenous businesses in favor of jewish owned global corporations with an army of self employed minimum wage mainly migrant workers.
They did it with music and books.
Then the rest of retail.
Then with taxis.
Online food ordering.
Jewish global monopolies formed right before your eyes with government stooges getting payoffs and bribes all over.
At this rate they will have us fighting over who exactly gets to punish them.

THREADLY REMINDER TO NEVER CHARGE INTEREST NOR PAY INTEREST
ALWAYS PAY AHEAD ON YOUR LOAN AND ENSURE YOU PAY EARLY
THE KIKE HATES NOTHING MORE THAN TO LOSE "ASSETS"

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This was what the banks wanted. Nobody forced them to do anything.