The main vehicles. The $1 trillion in bad mortgages caused people to stop investing in banks. With banks not able to get more money ...collapse.
On Mon, Oct 13, 2008 at 2:20 PM, Gruss Gott <[EMAIL PROTECTED]> wrote: > > Home loans are simply *one* of the many vehicles for this problem and > as I've said a zillion times, add up every single sub-prime and you > still only come to $1T. That's not the problem. > > It's the shadow banking system which is larger than the normal banking system > > But if you'd like to create an accountability map, it would look like this: > > (1.) Phil Gramm that created it > > (2.) Clinton that signed it into law > > (3.) Bush for letting it flourish and get out of control. > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:274094 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
