Australia's largest stock trading and investment forum Australia's #1 stock forum

Banking RC, page-52

First 52 Last

Share
Profile

Follow
sailorgirl

4,590 Posts.

0

22/04/18

17:57

Post #: 32614225
Share

Originally posted by ziyou ↑

Lappy, it was Clinton repealing the Glass Stegal act in 1997 that led to the cause of the GFC, the commercial banks in the USA being allowed to package thier loan books up and on sell them to "investment banks" in the USA, who then got a AAA rating from Moodys etc and flicked them onto investment groups , when the NINJA loans started falling over the house of cards collapsed, the Aust banks had very little in the way of these situations, Costello wouldn't allow them to on sell their loans , he identified moral hazard as the issue, the "investment bankers" are back at it again in the USA , its almost 10 years , it seems abt every 10 years the USA has a finincial implosion of some kind.

Expand

Ahhh ... the Clintons - what a couple.
He caused the GFC and she lit the fuse in the Middle East.
As I said ... what a couple!
And Democrats to boot!
1 Upvote

Reply

Top Stories

AS2

Capital Compass: Askari Metals advances Ethiopia strategy as permitting remains key focus

ASX Today: Miners lift market as gold hits three month high

Monday’s HotCopper trends: DXN, Right Resources, North Stawell Minerals and other daily topics

TGN

Tungsten has soared +700% YTD, the US is curbing its exports, and this ASX stock is targeting production in Q1CY27

ALD

Ampol profit surges as Middle East war sends refining earnings soaring

First 52 Last