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April 6th, 2009, 08:15 PM #1
April 6th, 2009, 11:52 PM #2
April 7th, 2009, 01:37 AM #3
Short and simple, but not very accurate either.
Causes include banks lending to people that never should have received mortgages (mentioned in the video), the use of adjustable rate mortgages (not mentioned in the video) and mark-to-market rules (also not mentioned in the video).
You will remember all of the news when the problems first began to develop about how people were beginning to lose their homes because rising interest rates were causing their mortgage payments to rise to more than they could pay (due to ARMs). This led to housing prices falling, which in turn led to the mark-to-market rule kicking in and creating a full-blown credit crisis. Interestingly, the mark-to-market rule was one of the government answers to the Enron fiasco. It is also worth noting that last week the FASB loosened the mark-to-market rule under pressure from politicians.
Understanding How Mark to Market Rules are Fueling the Credit CrisisRick M.
I would rather have a bottle in front of me, than have a frontal lobotomy!
Does your bubblegum lose its flavor on the bedpost overnight?
April 7th, 2009, 05:17 AM #4Originally Posted by Cagles MillPeace,
Loving Everyone's Child Creates Magic
April 7th, 2009, 08:16 AM #5
- Join Date
- December 12th, 2006
now that's what I call link bait! put a link or a banner to a credit card site and there you have instant traffic and rankings!
By Rhia7 in forum Midnight Cafe'Replies: 1Last Post: April 14th, 2013, 07:48 PM