Bronco Billy Posted March 11, 2009 Share Posted March 11, 2009 So your position is that a standard mortgage is not a collateralized debt obligation? *crickets* Quote Link to comment Share on other sites More sharing options...
WaterMan Posted March 11, 2009 Share Posted March 11, 2009 anyone ever notice that bacon is great to eat as a snack. better than a milky way any day. Well you don't have to wait on the Milky Way to cook, but with bacon you feel more powerful. Anyways, who forced banks to take loans? If the people with money were forced to do anything, we would hear about it. Quote Link to comment Share on other sites More sharing options...
geeteebee Posted March 11, 2009 Share Posted March 11, 2009 So your position is that a standard mortgage is not a collateralized debt obligation? *crickets* I imagine he is not replying because this question shows you are pretty ignorant on the subject. A standard mortgage is not a collateralized debt obligation. Now I truly hope your response to that is not "is a mortgage not collateralized by the real estate? Is it not debt? Is it not an obligation?" Because, yes of course it is all those things but that still doesn't make it a CDO. A CDO is a structured product made up of fixed-income payments on underlying assets. A standard mortgage may be packaged up with other standard mortgages and part of their payments be assigned to a security known as a CDO but a standard mortgage is, in and of itself, not a CDO. Quote Link to comment Share on other sites More sharing options...
Bronco Billy Posted March 11, 2009 Share Posted March 11, 2009 (edited) I imagine he is not replying because this question shows you are pretty ignorant on the subject. A standard mortgage is not a collateralized debt obligation. Now I truly hope your response to that is not "is a mortgage not collateralized by the real estate? Is it not debt? Is it not an obligation?" Because, yes of course it is all those things but that still doesn't make it a CDO. A CDO is a structured product made up of fixed-income payments on underlying assets. A standard mortgage may be packaged up with other standard mortgages and part of their payments be assigned to a security known as a CDO but a standard mortgage is, in and of itself, not a CDO. Thank you. Didn't realize that the bundles were known as CDOs. I guess calling them "bundles" and identifying them as worthless paper and a significant part of the problem makes one stupid, whereas calling them CDOs and identifying them as a significant part of the problem makes one a genius and above discussing with the stupid one. Edited March 11, 2009 by Bronco Billy Quote Link to comment Share on other sites More sharing options...
billay Posted March 11, 2009 Share Posted March 11, 2009 (edited) Thank you. Didn't realize that the bundles were known as CDOs. I guess calling them "bundles" and identifying them as worthless paper and a significant part of the problem makes one stupid, whereas calling them CDOs and identifying them as a significant part of the problem makes one a genius and above discussing with the stupid one. No, insinuating that a professor of economics doesn't know what a CDO is, is what makes one stupid. Edited March 11, 2009 by billay Quote Link to comment Share on other sites More sharing options...
Bronco Billy Posted March 11, 2009 Share Posted March 11, 2009 No, insinuating that a professor of economics doesn't know what a CDO is, is what makes one stupid. I could have sworn that I just admitted that I had no idea that what I called "bundles" were called CDOs. If he is a professor, why would an oversight like that offend him when it's patently obvious that we are talking about the same thing? Instead he feels the need to be insultingly dismissive? Glad he's not my prof... Quote Link to comment Share on other sites More sharing options...
WaterMan Posted March 11, 2009 Share Posted March 11, 2009 Is wiege undefeated on this forum? Quote Link to comment Share on other sites More sharing options...
whomper Posted March 11, 2009 Share Posted March 11, 2009 She is a skanky ho What name did I call her? Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted March 11, 2009 Share Posted March 11, 2009 (edited) I believe that my position is very similar to what you have written here. Start here If you don't believe there was sufficient motivation to make sub-prime loans from just their short term profitability, and you still think that this crisis was caused by government forcing banks to not discriminate against minorities, come post back here with your own logic for thinking that way. Edited March 11, 2009 by AtomicCEO Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted March 11, 2009 Share Posted March 11, 2009 But to blame this in its entirety on the banks would be inaccurate and short sighted. Shortsighted is an accurate description of the bank's positions. As long as they could show profit on the quarter they didn't give two chits. Side note - the "too big to fail" thing needs to be tackled later, same as Standard Oil and Ma Bell. Break these bastards up. Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted March 12, 2009 Share Posted March 12, 2009 I stand corrected. Quote Link to comment Share on other sites More sharing options...
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