Open Thread 6-20-2009

Jun 20th, 2009  
by IrvineRenter  in News

Astute Observations

Astute Observation by Modguy
2009-06-20 09:25 AM

It wasn’t that long ago, but the events are already fuzzy to me.  I thought August 2007 was when we lost subprime, then HELOCs, then high LTV loans (and I was in the thick of it),

Your post was in May, and you already put the nail in the high LTV coffin… Very astute of you at the time!

I’m going to go read the comments on the original post… Can’t wait to see if people disagreed with your asssessment at the time LOL

Reply to this astute observation
Astute Observation by Walter
2009-06-20 09:57 AM

By March 2007, sub-prime was over. I worked at New Century in IT and by June 2007, the main business activity was auctioning off the assets.

Reply to this astute observation
Astute Observation by Modguy
2009-06-20 11:49 AM

IrvineRenter,

Can you add a visual timeline to the Library for posterity sake (it can show lots of data points: date of peak pricing; date of major institutional failures; dates of important quotes i.e. Greenspans “froth” comment; dates of new legislation; etc.)

I think that would be of interest - as you know those that don’t pay attention to history are destined to repeat it!

Reply to this astute observation
Astute Observation by newbie2008
2009-06-20 11:57 AM

What you say it true in other area.  If one has no skin in the game, anything goes.  “Just do it.”  No thought on the longer term consequences, only the short term gains.

No skin in the game,
it’s only short term gain.
Keep them amused,
so they can be abused.
Have them pay the TARP
Even though they might harp.

Reply to this astute observation
Astute Observation by HydroCabron
2009-06-22 09:09 AM

Well put. Surprising that more could not see this coming, particularly the economists.

Reply to this astute observation
Commenting is not available in this channel entry.

<< Back to main