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With jpmorgan chase for duping investors into purchasing mortgage-backed securities that were stuffed with garbage loans because your quote allergy to regulation and unshakeable belief in the virtues of the free market led you to ignore the bubble and its risks, infusing investors and consumers with confidence that the run up in home prices was perfectly normal. how do you respond to that? i respond in the book itself. i explain precisely what happened, what led to the global bubble. remember, this is not an american bubble. the housing bubble looks the same whether you re going to canada, australia or any of 20 other countries. we re somewhere in the middle. so the bubble itself is neither an american issue nor something which we were unaware of. the critical question that we all missed is when it would break and one of the things i demonstrate basically in the book is you cannot determine that. ....
Man who said he had a fake passport and explosives. have you found yourselves on an airplane with no food and water and no access to a working bathroom? the government is about to lay down the law own airlines, why they say it could have unintended consequences. the a.m. fix blog is up and running, cnn.com/amfix. we ll read your e-mails throughout the show. deny, deny, deny. in front of millions of americans who think they are so smug, goldman sachs executives did little to help their cause on capitol hill. they spent seven hours piling on in colorful fashion from time to time, accusing them of bundling up garbage loans or another word they used, tied to the housing crisis and telling investors they are awesome. that was the trigger that caused the financial meltdown and lawmakers go nowhere but they did get their shots in. june 22 is the date of this ....
Political process. we have the oversight committee. t.a.r.p. pressure on the treasury. we have a consumer financial protection bureau, but short of those kinds of political and regulatory things, there s little taxpayers can do. one question that occurs to me, my understanding with that in order for the government to provide fund to a bank, the loan had to quote, conform to a set of standards and that conforming was set because we didn t want banks putting fraudulent garbage loans together that are profitable for them and paying off the politicians to cover it up because my goodness that s not good for a country, but at the same time, no one seems to want to figure out what percentage of the loans at fannie and freddie are nonconforming and shouldn t we push those back on to the banks and then the big argument is well, if you do that, you ll ....
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