Sunday, June 24, 2012

A Financial System Built to Fail: a look back at 2008 w/Karl Denninger

Today Mortgage Rates - A Financial System Built to Fail: a look back at 2008 w/Karl Denninger.
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How is A Financial System Built to Fail: a look back at 2008 w/Karl Denninger

A Financial System Built to Fail: a look back at 2008 w/Karl Denninger Video Clips. Duration : 27.98 Mins.


We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Today Mortgage Rates . Follow us @ twitter.com twitter.com Remember the financial crisis? Remember september 2008? Remember Hank Paulson, Tim Geithner and Ben Bernanke? Remember George Bush and Nancy Pelosi? Remember how they all told us that this was a once in a life-time event -- a once-in-a-century calamity -- and that after the crisis' immediate dangers were addressed, that the underlying causes would be tackled immediately? It's been more than three years since then, and we never cleaned up the mess. Now we are seeing the consequences. But how close are we from having this happen again? Having a crisis like 2008 happen again? The truth is, none of us know how things are going to play out, and how this massive explosion in debt over the past 40 years is going to work itself out. However, anyone who thinks or wants to believe that things are "ok" and that policymakers and bankers have things "under control" should take a look back to 2008 -- as we have -- and watch some of the speeches made by George Bush, Hank Paulson, Ben Bernanke, and members of Congress like Chris Dodd, Barney Frank and Nancy Pelosi for some context: for a reality check. During that time, the "failure of congress to act" cost the Dow a record 778 points in one day. We were told that "we had to act" and that though the president and his staff believed in the free market, this was just not the time for principle. The crisis proved, beyond a shadow of a doubt, that the Emperor had no clothes...and it is our contention that ...
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