FLASHBACK 2007: "Fed's Bernanke: Subprime Mortgage Problems Contained"

[sailingaway]

Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that growing troubles in the market for risky mortgages thus far doesn't appear to be spreading to the overall economy but the situation bears close watching.

"At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained," Bernanke said in prepared testimony to Congress' Joint Economic Committee.

It marked Bernanke's most extensive discussion yet of the mounting problems in the risky mortgage market. Those troubles raise "some additional questions about the housing sector," which has been mired in a deep slump for more than a year, Bernanke said.

Fallout in the risky mortgage market is clobbering some lenders and homeowners and has stoked concerns on Wall Street, Capitol Hill and elsewhere.

just for the lulz...

http://archive.newsmax.com/archives/ic/2007/3/28/110709.shtml

 

[enhanced_deficit]

[h=1]Maxine Waters Threatens End To Regulation-Rollback[/h]


Related



https://www.youtube.com/watch?v=BVl9SQ-KVmE

 

[Swordsmyth]

Maxine Waters Threatens End To Regulation-Rollback




Related



https://www.youtube.com/watch?v=BVl9SQ-KVmE

Government regulation wasn't the answer to the problem.

 

[enhanced_deficit]

Government regulation wasn't the answer to the problem.

Under the existing semi-socialist/semi-free-market system, can private militias arrest and put Wall Street crooks ( often in bed with their fakenews media) into jails or only SEC/gov regulators can do that?

 

[Swordsmyth]

Under the existing semi-socialist/semi-free-market system, can private militias arrest and put Wall Street crooks ( often in bed with their fakenews media) into jails or only SEC/gov regulators can do that?

Government regulations create moral hazard and the illusion of safety, all that should exist and be enforced is basic laws against fraud etc.

In many cases government regulations made the crisis worse by requiring lenders to give loans to unqualified buyers.

You are officially a Democrat now?

 

[enhanced_deficit]

Government regulations create moral hazard and the illusion of safety, all that should exist and be enforced is basic laws against fraud etc.

In many cases government regulations made the crisis worse by requiring lenders to give loans to unqualified buyers.

You are officially a Democrat now?

I'm a recovering democrat and budding libertarian. I do not support more regs per se but within existing crooked system infighting between left wing liberals like Waters and left-wing Wall Street loaded regime (Netanyahu-conservatives) can create positive gridlock.

Do you support MAGA's Tariff regulations or oppose them? Do you identify yourelf as a Republican or Deocrat or Libertarian.

 

[Swordsmyth]

I'm a recovering democrat and budding libertarian. I do not support more regs per se but within existing crooked system infighting between left wing liberals like Waters and left-wing Wall Street loaded regime (Netanyahu-conservatives) can create positive gridlock.

It sure looked like you were implying that government regulation was the answer to the crisis.

Do you support MAGA's Tariff regulations or oppose them? Do you identify yourelf as a Republican or Deocrat or Libertarian.

Tariffs are taxes on foreign commerce, they are Constitutional and I prefer low tariffs as an ideal, I support defensive tariffs aimed at those that have been waging trade war against us in order to negotiate an end to their warfare.

Demoncrat regulations have a history of making everything worse.

 

[Grandmastersexsay]

Government regulations create moral hazard and the illusion of safety, all that should exist and be enforced is basic laws against fraud etc.

In many cases government regulations made the crisis worse by requiring lenders to give loans to unqualified buyers.

You are officially a Democrat now?

I remember the days when any affiliation with Goldman Sachs was a red flag. Has the opposition shifted so much for me to ignore it, or have they doubled down on the left right paradigm? Have they gotten that much better at divide and conquer? I'm not sure any more.