Liberal Forum

Cannonpointer » 18 Jul 2014 11:20 am » wrote: I believe the little monkey has a simpleton's grasp of what caused the meltdown. It was the repackaging of mortgages into speculative debt instruments specifically outlawed by Glass Stegall, not the mortgages themselves, which caused the melt down, little monkey.

Oh, so the mortgages themselves would have been paid if they weren't re-packaged? No, that's stunningly stupid.

The Financial Freeze happened because mortgages were given that were not going to be paid. The form doesn't matter that much.

The problem was non-payment, not re-packaging.

But how typically stupid that you put your moonbat judgment over that of every business publication I've seen, the NYTimes and even Obama and Dems.