Sub-prime crisis – what next in banking? Credit crunch / sub-prime crisis and mortgages, interest rates, share prices, house prices. Comment by keynote conference speaker on Future of Banking and Financial Services – Dr Patrick Dixon

You don’t know anything, just like your audience.

“I’m not an economist or a banker” LOL! Like if you were it would make any difference. “when I started to lecture hedge funds”. If only you knew how stupid you sound!

By the way, Dixon, you’re talking about fraud in its simplest form!

Once upon a time buying a home in the USA
required a 20% down pmt. Various government legislators & special interest groups complained that lenders discriminated against minoritys & low income families. Lenders came under increasing pressure,
& new kinds financial products were devised.
For a while it worked and everybody made money. As long as prices were rising you couldn’t loose. It’s the nature of all bubbles to burst eventually.

to lend to this demographic

If there was regulation in place to keep people from getting massive housing loans without verifying their income, this would have never happened.

No – regulation is not the answer. There is enough regulation – trouble is, people trusted it and therefore, went in head first without thinking. There needs to be less regulation, which would force the punter to do a bit of research and come to better educated decisions.

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Very true. This is exactly what is happening, this is why we are seeing prices in certain commodities surge such as oil, gold.

I never heard so much said about so little by someone so unknowledgeable.
We know that the rich lent to the poor and sold on the debts to the unsuspecting. There is one and only one answer to prevent this sort of thing again and that is regulation. It won’t happen and the greed merchants who gamble with others’ money will continue to con and lie their way to personal wealth at the expense of the rest of us who actually work for a living.

When the bill came, I decided not to tip the waiter because he was wearing an Obama T-shirt. I explained to him after i ate that I wasn’t going to tip him but I was going to redistribute his tip to someone that I deemed more in need, specifically the homeless guy outside. He stood there in disbelief, then angrily stormed away.I went outside, gave the homeless guy $5 and told him to thank the waiter inside.Wonder how the waiter liked that “change”.

New unearthed evidence,obama says subprime even after it failed was a great idea, and we have this subhuman picking the drapes for white house, America is going to hell in a handbasket

This gentleman may be correct, but this video is not very informative.

Thanks very much. Patrick

Thanks – look at the latest videos – turqouise button top right. Patrick

While Obama & the Democrats were cashing their big paychecks from FannieMae, McCain and 18 other REPUBLICAN Senators loudly predicted this disaster and tried to STOP it.

Their letter (5 May 06):

tinyurl (dot) com/3q6dc9

(fix the “dot”)

Note that NOT ONE DEMOCRAT signed this letter.

It was published in the NY Times, LA Times, etc.

Where was Sen. Obama that day? Running for President, too busy to care.

He did no favors to those unqualified borrowers. The chickens came home to roost.

My Dear Dr. Dixson you are a goldmine pardon the pun. I was looking for a REAL way to explain to my family what this whole credit fiasco was all about and you sumed it all up in a simple answer no one knows exactly what they are doing. Thanks doc im cured.

Great reply edward to this rabble rouser tellthetruthh. I suspect that as the US economy implodes he will be a loudmouth rabble rouser scapgoating Hispanics. This kind of thing always happens with angry people looking for a group of people to point their sticky fingers at.

You mean the foreigners who have been lending America for 30-40 years are paying for it when America collapses. Most americans have been living beyond their means on the backs of non-Americans.

Tellthetruthh, change your username to -Idon’tKnowwhatI’m saying. I’m not hispanic,I’m european temoporarily residing in US & I know that you’re totally wrong about everything you wrote. First of all, Hispanics were not given preference to get Mortgages, everyone who could breath and had $20 could get it,secondly and most IMPORTANTLY no person may get any loan even for 1 dollar & especially a Mortgage without SSN. Same as no person may get any SS Benefits without SSN.Check at SSOff before liying

Great stuff Patrick, I wish I saw this last year, it would have reinforced my vague knowledge of what was happening .
Anyway guru, what is your view of the next 6 months ahead.

you are so right on this. it sux that my people were sold into these type of loans due to ignorance. cash is king, cash is king. its all a transaction business!!!!!!!

HISPANICS were the major group to hold SUBPRIME LOANS. HISPANICS were given loans when other groups could not get them. Now they want to be bailed out of their mess!!!If they weren’t so greedy they would not be in this situation. Most of them didn’t even have SSN oe EINS.Now BUSH has made it possible for them to get bailouts without SSN or EINs!!!S0illegals aliens are milking the system again!!! While Americans pay the bill!!!

The subprime crisis was spotted, f.e., in 2003 by the german magazine “konkret”. But the first who spottet the general development of, let us say, capitalism, was old good guy K. M.

The subprime crisis could have been spotted one or two years before it came, using the most simplistic analysis. Anyone who missed it must have beeb rather thick, or was blinded by greed. Packaging toxic waste, only looked complex, because it was designed to blur the risks. Stay away from what you do not understand.

I am not so sure actually, having met a few. Banking products have become so complex that they are very hard to keep track of and CEOs of entire banking groups have vast numbers of issues to manage. This is why it is now such a risk for a non-executive director to sit on a bank board. They are liable for things missed – but hard to keep watch on every front.

offcourse the CEO know exactly what they do…. and the problem is that they care more about the profits than their emplyees understanding of their work