What caused the 2008 economic crisis?

What caused the 2008 economic crisis?

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michael-hudson.com/wp-content/uploads/2010/03/RoadToSerfdom.pdf
youtube.com/watch?v=4ECi6WJpbzE
youtube.com/watch?v=BUywXLdNi1o
forbes.com/sites/georgeleef/2014/01/10/one-bad-law-usually-leads-to-others-the-housing-bubble-and-dodd-frank/#6fdfe396281e
en.wikipedia.org/wiki/Barings_Bank#1995_collapse
wiki.mises.org/wiki/Panics
en.wikipedia.org/wiki/Nick_Leeson
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Jews.

Jews.

Jews.

Jews

Jews.

(OP)

Jews.

a lack of regulation in the financial industry

Jews

You are all anti-semites. Disgusting!

The Community Reinvestment Act

Jews

Shut up, Kike.

Jews

Watch Inside Job or recent The Big Short, both are nice

Jews.
Also, Australian shitposting.

people of a specific trait trying to cook the books

Jews.

Hypothetically, if a jew robs a bank, is it anti semitic to send him to jail?

jews deregulated the financial industry so they could make a shitload of money lending sup prime mortgages to niggers and spics

This caused a massive asset bubble and a real estate bubble that eventually popped when Tyrone and Pedro failed to meet their monthly payments

read this for more details

michael-hudson.com/wp-content/uploads/2010/03/RoadToSerfdom.pdf

Jews

not the jews. it was a concerted effort by the powers that be, using jew magic (((money))). the "cause" is irrelevant because (((jew magic))). instead, look at the "what".

the what is what happened, what is the result?
inb4 first world countries suffered.


look, the 2008 crash made it so third world shit holes can afford basic raw materials to build out their plumbing and stuff.

deal with it, that's how the fiat game is played. we fix poverty like robin hood.

Big (((government)))

Jews.

...

Jews weren't the cause of the 2008 economic crisis. Just because they're succesful and richer than you NEET fags doesn't mean they caused it. You guys keep blaming the jews for nothing.

JIDF pls fuck off

Jews

Jews

Via (((banking)))

The Jewish subprime bubble bursting

Nah, just curious, I don't care about jews one way or the other, but I am becoming suspicious of some of them. I don't care about being rich, nor would I want to be.

Too much intervention on the economy by the government.

They set up all the regulations
They abused the system knowing full well it would collapse
Sure, maybe you'll find one key player that's not jewish
Jews aren't that much smarter, they are just relentless when it comes to making shekels.

Artificially low interest rates.

Central banking.

Not saying a gold standard is perfect, but it's a 100 times better than the jewish system we have now.

Forcing banks to meet sub prime mortgage quotas.

It was Clinton's fault.

foreclosures

the affordable housing act made the banks give out high risk loans. Everyone and their mother defaulted on the high risk loan simultaniously so we had a massive wave of foreclosures which lead to problems in other industries

oops, I mean jews

they objectively were the cause

Robert Rubin changed the CRA (Community Reinvestmant Act) so that banks could lend to anyone non white who didn't have a job or any money at all.

Then he and Larry Summers and Alan Greenspan also lobbied to have Glass-Steagall repealed.

After they did this the jewish media said they "saved the world"

>a lack of regulation in the financial industry

>believing what george soros and the mainstream media tell you

The federal reserve. Educate yourself user. Read End the Fed by Ron Paul and you'll see what caused every economic malady since 1913.

>Watch Inside Job or recent The Big Short
Why do you enjoy watching holywood leftist propaganda that lies you to.

Watch this shit instead.

youtube.com/watch?v=4ECi6WJpbzE

Lithuanians.

Jews.

youtube.com/watch?v=BUywXLdNi1o

It would be difficult to summize in one word without looking at fed policy n global derivative exposure but...the jews

((()))

I think it was a shitpost

It's true

giving out easy loans to niggers/spics ruined the economy because they would never pay them back

It wasn't the jews, you nazis. Again, jews are innocent and your allies. They did nothing to harm you.

How does Sup Forums seriously not know what caused the financial crisis?

why is Sup Forums so bluepilled?

holy fuck, I thought we used to support Ron Paul on here?

No shit.

But the federal reserve literally gave these bankers trillions of dollars because they have a monopoly on money printing.

Abolish the federal reserve

DO IT

NOW!!!!

>Nobody remembers this anglo
His antics made me laugh pretty hard
Single handedly fucked up a bank

The problem was financial firms packaging mortgage loans and giving them unrealistic appraisals of safety while reselling them. A problem that could have been prevented by appropriately strict regulation of their activities. How am I wrong?

You kiss your brood mother on the cheek good night with that lying forked tongue, heeb?

Yep, and the repeal of Glass Steagall. The CRA lowered standards for mortgages allowing for high risk loans. Glass Steagall prevented commercial banks from engaging in investment. With GS gone, banks could use deposit money to invest, and since we had a housing bubble, they invested heavily into packages of home loans. Home loans are usually good investments, slow payoff over time, except many were high risk loans. The really fucked up part came when the banks originating these loans and packaging them would then turn around and invest in something called a credit default swap. Basically if those loans failed, they made money. So they made money from creating bad loans and then made more when they failed. The practice became widespread and when a lot of people starting losing their homes, it caused a ripple effect.

Trump wants to reinstate Glass Steagall, which would prevent a good bit of this fuckery

Banks didn't do it deliberately.They don't go out of their way to go after niggers who will inevitably default on their loan, since that'd be bad for business.

Twas the quotas imposed by Clinton forcing banks to lend to these kinds of people. It was regulation which bred the crisis, not the free market.

>Baiting this hard

>pic related

>How am I wrong?
You're not

>(((Jews)))

that is the secondary mortgage market which had an effect although the problem originated in the primary market due to increased regulation. (not that increased regs are bad but this one in particular was bad)

It's not a shitpost

the areas that were hardest hit were all areas with mass hispanic immigration (the Sand States, Arizona, Florida, Nevada, California, etc) because bank gave easy loans to Mexicans who would never pay the loans back

Ron Paul's understanding of the crisis is incredibly shallow it just boils down to muh gold and muh FED with no understanding of any details.


No, the banks "print" their own credit

the only thing that keeps banks from creating easy credit is tight lending standards. The interest rate doesn't stop banks from creating cheap credit, if they did then there wouldn't have been endless bank runs in the 19th century

Lol@Lloyds

>The problem was financial firms packaging mortgage loans and giving them unrealistic appraisals of safety while reselling them.
Yep.

and this would be fucking impossible if the federal reserve didn't give them trillions of fucking dollars they didn't have before
and guaranteed they would be bailed out when this scam collapsed.

Fucking embarrassing.

We NEED to go back to free banking.

Cite the regulation that caused the problem

>Glass Steagall
AHAHAHAHAHHAHAHA

Bro, almost no other country in the western world had a law like Glass Steagal.

It was fucking irreverent to the crash.

I want you brainwashed blue pilled corporate fascists to go back to reddbit.

Black people thinking they could be responsible middle class citizens

>Clinton forcing
>Clinton

Clinton just wanted to bang whores

RObert Rubin, a wall street insider and former Goldman Sachs partner was the one that lobbied for repealing Glass Steagall and changing the CRA to let banks make NINJA loans (No Income No Job No Assets) to blacks and Mexicans so that wall street could fuel a housing bubble they would all get rich off of.

forbes.com/sites/georgeleef/2014/01/10/one-bad-law-usually-leads-to-others-the-housing-bubble-and-dodd-frank/#6fdfe396281e

...

It would have given more protection to commercial banking

ie gamblers cant get a hold of everyone's personal accounts

No man, Barings Bank
en.wikipedia.org/wiki/Barings_Bank#1995_collapse

Me

So, if they are successful because they have managed to figure out how to rig the system then it's ok?

For example would you support the Mafia's 'right' to extort money for 'protection' from a small Italian businesses because they have fixed the system within which bushiness operate to make it too violent without THEIR protection?

>forbes.com/sites/georgeleef/2014/01/10/one-bad-law-usually-leads-to-others-the-housing-bubble-and-dodd-frank/#6fdfe396281e

add blocker

The federal reserve existing.

>Ron Paul's understanding of the crisis is incredibly shallow
You're a fucking idiot keynesian.
Paul predicted the crisis, you cucks were cheering it on.
>with no understanding
Jesus christ fuck off, countless books have been written on the subject

>No, the banks "print" their own credit
Yes and they get this money they "print" from the federal reserve.

This wouldn't happen in a free market.

Corporate fascism is fucking bullshit, we need to go back to free banking.

>the only thing that keeps banks from creating easy credit is tight lending standards.
HAHA Jesus christ you people are stupid.

>The interest rate doesn't stop banks from creating cheap credit
Of course they would
But in a system of free banking, banks that are retarded enough would collapse quite fast and would be pretty rare.

>if they did then there wouldn't have been endless bank runs in the 19th century
You mean ones caused by government economic manipulation?
wiki.mises.org/wiki/Panics

the 2008 crisis was a direct result of the 2000 dot com bubble

we are still in a great depression

nothing has changed

this will only get worse as negative interest rate policy around the world will destroy the little productive capital there is left

this 20 year hole will be known as the central bank bubble

also OP your flag looks like a box of crayons faggot

The toxic assets came from the US not the rest of the world only the US has the influence to put the global economy into recession.

>corporate fascists to go back to reddbit.

yes everyone knows Sup Forums is the libertarian board

>It would have given more protection to commercial banking
It wouldn't have fucking helped at all.

There's NO law like this fucking anywhere, including in my country.

Fucking clueless idiots trying to find a scapegoat, when you cucks support the fed printing trillions and giving it to bankers.

Hypocritical cucks.

I can't wait until trump audits the fed.

>yes everyone knows Sup Forums is the libertarian board
lmao we supported ron paul in 2012 and a lot of us still have his economic policies

Jesus fuck, seriously go back to re d dit you dumb lefttard

pic related applies so 2008 as well (the difference from S&L in addition to the scale of things was that people actually got punished for that one)

tl;dr:
1. grow like crazy
2. give bad loans with high yields
3. leverage like hell
4. have no reserves for loss
???
= incredible short-term PROFIT, huge bonuses for bosses, cash out! and 100% guaranteed to go bankrupt

There were no quotas; Banks didn't lend to blacks, and that violates the law.

But, Pay attention here user.

When you loan money against collateral, you don't exceed the collateral.

When you loan money for a house, you loan it AGAINST THE HOUSE, NOT THE PERSON.

It doesn't matter if the person can pay it back AS LONG AS THE VALUE OF THE HOUSE STAYS THE SAME OR GOES UP!

What caused the financial crisis?

In a word? IT WAS A BUBBLE!!!!!

Capitalism fails when it gets bubbles. This has been the cause of all financial crisis in the history of capital. Even StagFlation was a bubble in reverse.

There is no such thing as an economy. There is only an Economic State. And that means recursion, and that means you either have equilibrium, growth, decline, or oscillation.

The financial crisis, and all financial crisis can only be avoided with strict regulation that changes with feedback, and that means a planned economy that picks winners and losers.

Corporate fascist? You're fucking retarded.

People's deposits were on the line when the big banks started to belly up from so many bad investments, and the FDIC didn't have the funds to cover those deposits. That was a huge part of what made the financial crisis so terrible. Do you think the prospect of everyone losing their fucking money didn't effect the market and contribute to the crash? And the word is irrelevant, you illiterate twat

No no Lloyds had to underwrite the aftermath of his Singapore sheenanigans. I might be off with this but I remember reading once Lloyds debt from this won't be out of the red until late in the 21st century. Fun times.

he's not auditing shit

Only did 4 years, gets book deals, a movie deal, a documentary deal, a guaranteed speaker gig. He did pretty good, all things considered.

en.wikipedia.org/wiki/Nick_Leeson

We have Kerviel, I would like him better if he wasn't such a whinny bitch.

you're all getting caught up in the trick. don't focus on the sleight of hands during a scam. there's an indefinite number of ways to scam. look at the results, who wins who loses.

rich countries were eaten alive and now poor countries can buy basic building materials. that's how central banking works. jesus christ. read the politics of economics.

oh and get your shit together because land owners will always be under attack =P

Bill Clinton had forced Jew bank to extend credit to the insolvant niggers.

Crisis start and jew bank transmitted the crisis all over the world

>Paul predicted the crisis

He predicted a crash for 30 years straight without understanding the mechanics of the economy. He was going to be right eventually.

And he and Peter Schiff are still predicting a "collapse" for the last 8 years and have been endlessly wrong


>you cucks were cheering it on.

no

see

michael-hudson.com/wp-content/uploads/2010/03/RoadToSerfdom.pdf

>Yes and they get this money they "print" from the federal reserve.

No, banks create their own money out of nothing, that's how banking has always worked

>This wouldn't happen in a free market.

Yes it would and it does.

Banking panics happened all the time before the FED

>to free banking.

Where your savings are wiped out in bank runs every 10 years

>Jesus christ you people are stupid.
not an argument

>banks that are retarded enough would collapse quite fast and would be pretty rare.

And then they would just come back, because creating credit is far more profitable than not creating credit

>Mises

oh great another Austrian cultist

Fucking perfectly stated.

10/10

Shadow banking

Wrong

>Banks didn't lend to blacks, and that violates the law.

This was, at most, a minor component

>his (((economic policies))))

Ron Paul is just another idiot good goy when it comes to economics

Giving private banks full reign over the economy is like giving jews a license to steal.

fpbp
/thread

winrar.
duh.
loserar boo hoo >muh muh trust

Nope.
He made them apply the same rules they applied to whites.
It was the creditors and loan agencies who fucked up, not the president.
Bill Clinton was fucking GOAT.

>Politicians of both parties, however, imbued with what Hayek called the “fatal conceit” that government regulation is superior to the spontaneous order of civil society, thought they could improve upon that market.

>For a clear, concise explanation of the genesis of the housing bubble, I recommend the November, 2013 Hillsdale College Imprimis, “The Case for Repealing Dodd-Frank” (available here), by Peter J. Wallison of the American Enterprise Institute. Wallison shows how the government’s serial meddling in the housing market brought about the housing boom and bust, which in turn led to yet another damaging law.

>The story begins in 1934, with the creation of the Federal Housing Administration. Before then, the housing industry had functioned without any trouble, settling on various standards for safe lending, especially the 20 percent down-payment rule. The market’s standards efficiently allocated credit to those who had shown themselves to be credit-worthy. Even though the FHA could have issued mortgages on weaker standards, for a long time it didn’t.
>Between 1957 and 1961 however, Congress decided that the housing market needed stimulation and decreed that the FHA would go to a 3 percent down standard. “Predictably,” Wallison writes, “this resulted in a boom in FHA insured mortgages and a bust in the late ‘60s. The pattern keeps recurring and no one seems to remember the earlier mistakes.”
>The feds left the housing market pretty much alone until 1992, when Congress thought it would be politically advantageous to posture as champions of “affordable housing.” The politicians decreed that the two mortgage giants it had created, the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) would have to meet quotas for mortgages from lower-income people. Creatures of politics, the two government-sponsored enterprises had no choice but to comply.

>The financial crisis, and all financial crisis can only be avoided with strict regulation that changes with feedback, and that means a planned economy that picks winners and losers.

When you completely misrepresent the safety level of an investment that is an issue for regulation and it has nothing to do with picking winners or losers. These financial firms were essentially just lying. No matter how you wrap it up that's really all there is to it.

good posters, keep doing god's work

baffles me that even you'd bother to argue with the boo hoo the fed! schittlords though, they've always been beyond redemption

lol

What's it like being retarded?

>keep predicting, idiot.
see: + clinton 2