Comments for 0 at http://boombustblog.com , comment 1 to 4 out of 4 comments http://boombustblog.com Tue, 02 Dec 2008 08:52:57 +0100 FeedCreator 1.7.2 http://boombustblog.com/index.php?option=com_myblog&show=Reggie-Middleton-on-Consumer-Finance-and-the-Asset-Securitization-Crisis.html&Itemid=92#comment-1360 I hope all the subprime lenders including Bank of America who stole my money out of my active checking and savings with them,Misued their right that they think they have in handing out BT checks without my athorization on a card I reported as fraud. I will tell you that I think we need to trash these cards and Identity Theft did this for me, but it has take me over an entire year to deal with these jerks. So after one card after another, actually gave me back the money I paid on fraud, the last fool left, Bank of non America so back to the OCC's office with all my paperwork, and I will fight them until they pay up or I am dead!!!!!!!! - Pamela Bonds Thu, 05 Jun 2008 20:53:44 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Reggie-Middleton-on-Consumer-Finance-and-the-Asset-Securitization-Crisis.html&Itemid=92#comment-1175 The Bush administration is the typical neoconservative idealist that has sowed destruction with the business first paradigm. He gave free reign to banking and investment houses to do anything they wanted and the populous was only too happy to join in. Hugo Chavez, though an idiot, was right on one thing, Bush is the devil himself (or perhaps an unregistered foreign agent). He will pass on the war, economic destruction, gutted industrial base, and depreciated currency to the next president so they can get the blame when they can't save us. Reggie does a good job of showing how the government has failed but with lobbyists running it, do you think it will get any better? - Ron Fri, 16 May 2008 23:20:31 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Reggie-Middleton-on-Consumer-Finance-and-the-Asset-Securitization-Crisis.html&Itemid=92#comment-1151 In the back of our minds I think we all know how things are going to unfold as a result of the explosion in consumer credit and the money supply. First inflation, then deflation. The credit bubble inflated with easy money. This caused asset prices to rise. However, eventually the "next bigger fool" never shows up to buy the asset you purchased at a price higher than you paid for it. This leads to falling asset prices across the board and, what very few market commentators are mentioning, deflation. Japan in the late 80s and early 90s is a perfect example. The market now reminds me of the late 1920s when things had been going well for so long that everyone assumed that the stock market and assets in general would continue to go up in value. Hmmmmm that sounds just like what realtors had been telling the sheeple who used them to buy real estate at the peak of the boom. I can only seeing the asset securitization crisis getting much worse before it gets better. - Matt McClure Wed, 14 May 2008 19:32:22 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Reggie-Middleton-on-Consumer-Finance-and-the-Asset-Securitization-Crisis.html&Itemid=92#comment-1147 Not sure that it changes your analysis at all, but one of the primary reasons for the spike in consumer bankruptcy filings in 2005 was the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCA"). That legislation drove thousands of people to file for bankruptcy protection before it went into effect so that they could avoid the creditor-friendly strictures of the new code amendments. - David Leamon Tue, 13 May 2008 09:41:11 +0100