In the news this morning: 700 people applied for a school janitor’s job in Ohio here. President Obama chides AG Eric Holder for describing America as a nation of cowards here. Obama says recovery isn’t certain this year here. Review: ‘Watchman’ blazes with violence here. Daylight-saving time began this morning here. And the Sunday Wild Card is in play …
hmoffsuite on March 08 at 8:56 a.m.
Many folks are of the opinion that the collapse of the housing market is what led to our current economic problems. I happen to be one of them. As housing prices melted down, the banks and other lending institutions developed liquidity problems as they had to write down the value of their holdings (mortgages in many cases) as the value of homes went down. The value of the assets they held simply went down and since they are required to maintain certain ratios of loans to assets, they required more cash to keep those same ratios intact. That is basically what the TARP was all about. So, who caused the housing crisis and why wasn’t it addressed before it became the problem that it has? Most people place the blame on the Bush administration. Perhaps that blame is misplaced. If you really care to understand the underlying problem, you might read this article provided in the link below. The source is Investors Business Daily (IBD), a highly valued group in the investment community. Moreso, even, than the Wall Street Journal. Want to know what really caused the problem? …..
http://ibdeditorials.com/IBDArticles.aspx?id=321237362312361
Stickman on March 08 at 6:18 p.m.
On a lighter note, as the economy is an ongoing thing and I will never pay much attention, I had a very nice visit from the blogmeister today and it is always a pleasure. Thanks DFO for taking time out of your day to visit one of the bloggers and to make his day. I like what you are doing and though some feel different, keep up the good work. The family survives, and seems as healthy as ever.
EagleKeeper44 on March 08 at 6:48 p.m.
(sarcasm ON)
Why, homoffsuite if I understand that article
you linked our very own GOVERNMENT is
to blame for our current economic
situation! Man don’t you listen to all the news
talking heads? It’s the LABOR UNIONS man…
(sarcasm OFF)
Thanks for the link, some great reading there.
Stickman on March 08 at 6:52 p.m.
JBelle and JaneQ: I love the gift again, stick people sticking together. Priceless. Reminds me of our family here at Huckleberries, as DFO and I had a short coversation about this, this very afternoon. Thanks for thinking of me again, maybe someday we will meet.
cantyoureadthesigns on March 08 at 9:01 p.m.
Can you believe it! Barney Frank FORCED the mortgage industry to pay big bonuses to brokers who submitted loan paperwork, fraudulent or not, and Frank personally FORCED Moody’s, Standard and Poors, and the rest to rate junk mortgage bundles as AAA rated, and Frank FORCED appraisers to fudge their numbers to meet what the banksters needed to collect their heavy origination fees, and Barney Frank FORCED the Federal Reserve to reduce interest rates to historical lows (in and of itself a major factor in the housing bubble).
Man, that’s one powerful gay guy.
Charlie on March 08 at 9:52 p.m.
Just a thought. All the times I have seen Barney Frank, I don’t think I have ever seen him smile.
Bent on March 09 at 8:03 a.m.
Ok, this is getting kind of creepy. I get to work this morning (actually about 10 minutes late) and the parking lot is empty…that never happens.
I was begining to think it was Sunday, so I boot up my computer to double check, and when I get to HBO not a single post on this blog since last night…It’s 8 a.m. and nothing…How often does that happen?
/cue twilight zone music
Sisyphus on March 09 at 8:07 a.m.
Gosh Bent, I wonder why?
JeanieSpokane on March 09 at 8:30 a.m.
Bent, I woke really early this morning, thinking about the time change and that I would have to get up “earlier” than normal. I decided to get ready for work anyway and take the opportunity to actually have breakfast. Now that I am “on time” for work (and my clock still says 7:30), I’m ready for a nap. (No jury duty today - it’s kind of depressing - last week started with a bang and I was on a murder trial jury panel for three days while they picked a jury - and now nothing. Not even a dog bites postman. Nada. {sigh})
Bent on March 09 at 8:31 a.m.
Ok, I’ll bite. Humor us Sis, why…