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New Book Predicted Mortgage, Credit Crises »

Posted by: jovial 1 year, 9 months ago

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The credit crisis has inspired a new version of the old question: What did you know and when did you know it?

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jovial

Grew up In Brooklyn. Joined the Navy in 1976 stayed in 10 years. Aircraft Electronics tech. Worked for Major Govt. contractor then settled in California ...

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Comments: 13

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jovial
March 26, 2008, 8:17 p.m.
This guy Morris predicted our current mortgage/credit crisis before it happened. Maybe he should be doing Bernanke's job.
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ETproductions
March 27, 2008, 12:21 a.m.
How hard was that. Anybody with half a brain could see this coming in the sub-prime lending that concentrated on ARMs. I'm a web developer with all my training in engineering, and I knew this was coming. Are all MBAs brain dead?
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Spadecaller
March 27, 2008, 5:25 a.m.
When Ronald Reagan was in office they had a (grand old) party on us -- using taxpayers money. So why was everyone so surprised when "Black Monday" hit?
Well since Bush was in office, the rich had another big bash using taxpayer's money. And, now they want to use taxpayers money to bail them out of the mess that they created because of their selfish and tragic indulgences (Iraq War).
Will Americans ever smarten up?
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DoseASpinoza
March 27, 2008, 9:28 a.m.
The funny thing is, this happened before in Orange County, Calif. -- one of the epicenters of the bubble -- when it went bankrupt in the '90s.
A gadfly named John Moorlach kept going to the County Board of Supervisors telling them that their derivative investments amounted to a ponzi scheme that was bound to collapse, and nobody listened. The county went bankrupt and when it did, he got elected treasurer.
People are stupid and will ignore all the long-term warning signs if it means they can have immediate comfort. They are paying for it now. I'm glad I didn't fall for it and have no sympathy for people who did.
No bailouts! Greed got you into this situation, learn your lesson and get yourself out. Bailouts on the backs of taxpayers send the wrong message -- that you can get away with being greedy and stupid if you wait long enough. Those of us who made the decision to live within our means should not have to pay for the ones who treated housing like an ATM.
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Hard_Black_Caulk
March 27, 2008, 6:50 p.m.
This has hurt the Blacks and Hispanics in my neighborhood the most.
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obabahiwii
March 28, 2008, 10:25 p.m.
Thank you for share.