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ttt Jan 19, 2010

This lack of cash meant that banks worldwide stopped lending to bussiness who in turn could not buy/sell stock and so fired and did not hire staff. In turn normal people could not get cash to buy new homes or due to them being unempoyed could not repay old safe loans creating more unrecoverable debt for banks
ttt Jan 19, 2010

This has almost nothing to do with sept/11 and everything to do with poor the poor leadership of the Bush admin. Obama has inherited this and it will haunt the US for years to come.
Qnio Jan 19, 2010

ttt wrote:
This has almost nothing to do with sept/11 and everything to do with poor the poor leadership of the Bush admin. Obama has inherited this and it will haunt the US for years to come.

you're absolutely right ttt. There is also small matter of China practically owning US
PSALM40 Jan 19, 2010

ttt wrote:
The current international recession has very little to do with sept/11th. The international recession was caused by a lack of financial regulation in the US, deregulation started moderately with clinton but got massively out of control with Bush. It worked like this greedy US bank lent money to sub prime customers, now legal under bush. Sub prime customers had no chance in he'll of paying back the loans. Then the banks sold the subprime debt into complex debt packages to all sorts of banks worldwide which generated them huge but artifical profits.
When the subprime customers inevitably defaulted on the loans this created an international problem as no bank knew who had the toxic debt. This meant no bank knew who was stable so everyone stopped lending each other money..

EXACTLY!!!
JayDee Jan 19, 2010

Did tbock just compare the world trade center with actual trading? He saying that when the wtc went down so did our economy? Lmfao tbock stfu shunnnnnnnnnn.
Don Corleown Jan 20, 2010

Who else here thinks that T bock is the troll that was under the bridge? Me. 💀💨
jcyr Jan 20, 2010

MaceLePwn wrote:
Who else here thinks that T bock is the troll that was under the bridge? Me. 💀💨

He could be the GAP troll.
T Bock Jan 20, 2010

JayDee wrote:
Did tbock just compare the world trade center with actual trading? He saying that when the wtc went down so did our economy? Lmfao tbock stfu shunnnnnnnnnn.

so your saying that they had no economic corrilation at all?
hudropone Jan 20, 2010

T Bock wrote:
JayDee wrote:
Did tbock just compare the world trade center with actual trading? He saying that when the wtc went down so did our economy? Lmfao tbock stfu shunnnnnnnnnn.

so your saying that they had no economic corrilation at all?
of course it had some effect but it was minor compared to the fact that everybody just stopped spending money like they used to. And if u don't spend money it isn't worth anything now is it? Just listen to TTt he knows what's up
Pr3zzy May 13, 2012

Mr.DoDg3 wrote:
It's gotta be Obama again!
Go team Osama

KILL DA BUMPER!!!
Pr3zzy May 13, 2012

But this has nothing to do with Osama...

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