Tilted Forum Project Discussion Community - View Single Post - Who do you blame the current financial mess on???

ASU2003 · 11-25-2008, 10:06 PM

There are a few suspects, but I would be interested in some media company doing some real investigative journalism and finding out what or who is to blame. Or are there multiple guilty parties?

Who do you think caused it:

Flippers & speculators getting interest only loans and trying to make a quick buck off the people who want to move.

Oil companies or countries manipulating the price of oil giving companies an excuse to raise prices.

Hedge funds throwing their money around in order to increase the price of a stock to sell it later even if the news is good.

American consumers buying too much, going into debt. Or buying things made in China/Taiwan/Saudi Arabia/OPEC instead of from America/Canada/UK/Australia/NZ/Brazil

Poor Americans buying houses they couldn't afford, received ARM loans and when rates went up they couldn't afford it.

Banks lending too much money

AIG default credit swap scheme

Mark to market accounting (Too much regulation) - http://www.forbes.com/home/2008/09/2...9gingrich.html

Expose hedge fund and private investors practices (Not enough regulation)

Globalization hasn't worked or won't work. Third world countries won't buy from the US/Canada/Europe/Australia/NZ

Eight options not on the list:

Government taxing us too much

Federal Reserve manipulating interest rates to try and get the stock market to go up.

Too many workers and not enough jobs.

Too many people on welfare/retirement/pensions not enough tax/profits to cover them and still grow a business.

Media over selling things and making them seem better than they are, and then making things seem worse than they are.

Secret organization that is trying to control the population

Free trade (That's not really fair)

Home builders built too many homes too fast and no one wanted the old homes.

Any others you can think of?

I think it was like a bunch of dominoes falling over, one thing happened then the next thing happened until we get to where we are today. But, I think one of the first things was the banks creating interest only loans for people in California and New York to be able to afford to live there. Then they were offered at other banks. Soon, people started talking about buying homes they never intended on living in, just to watch them go up in price. The Federal Reserve tried to manipulate interest rates to get rid of the speculators in the housing market that was creating an artificial demand. But today, all of those items played a role in our current economic situation.

11-25-2008, 10:06 PM	#1 (permalink)
ASU2003 immoral minority Location: Back in Ohio	Who do you blame the current financial mess on??? There are a few suspects, but I would be interested in some media company doing some real investigative journalism and finding out what or who is to blame. Or are there multiple guilty parties? Who do you think caused it: Flippers & speculators getting interest only loans and trying to make a quick buck off the people who want to move. Oil companies or countries manipulating the price of oil giving companies an excuse to raise prices. Hedge funds throwing their money around in order to increase the price of a stock to sell it later even if the news is good. American consumers buying too much, going into debt. Or buying things made in China/Taiwan/Saudi Arabia/OPEC instead of from America/Canada/UK/Australia/NZ/Brazil Poor Americans buying houses they couldn't afford, received ARM loans and when rates went up they couldn't afford it. Banks lending too much money AIG default credit swap scheme Mark to market accounting (Too much regulation) - http://www.forbes.com/home/2008/09/2...9gingrich.html Expose hedge fund and private investors practices (Not enough regulation) Globalization hasn't worked or won't work. Third world countries won't buy from the US/Canada/Europe/Australia/NZ Eight options not on the list: Government taxing us too much Federal Reserve manipulating interest rates to try and get the stock market to go up. Too many workers and not enough jobs. Too many people on welfare/retirement/pensions not enough tax/profits to cover them and still grow a business. Media over selling things and making them seem better than they are, and then making things seem worse than they are. Secret organization that is trying to control the population Free trade (That's not really fair) Home builders built too many homes too fast and no one wanted the old homes. Any others you can think of? I think it was like a bunch of dominoes falling over, one thing happened then the next thing happened until we get to where we are today. But, I think one of the first things was the banks creating interest only loans for people in California and New York to be able to afford to live there. Then they were offered at other banks. Soon, people started talking about buying homes they never intended on living in, just to watch them go up in price. The Federal Reserve tried to manipulate interest rates to get rid of the speculators in the housing market that was creating an artificial demand. But today, all of those items played a role in our current economic situation. Last edited by ASU2003; 11-25-2008 at 10:20 PM.. Reason: Answered my question.