Comments by "romanmir01" (@romanmir01) on "Is Obama's Treasury Nominee A Big Bank Crony?" video.

  1. The housing bubble was inflated by the Fed's free money policy, just like the stock market bubble before it and just like the bond market bubble today. It's all gov't created. The unsound derivative bets were made because of the gov't guaranteeing all the loans via Freddie and Fannie and FHA, and HUD modified lending requirements still during Clinton's first term to ensure that a larger and larger portion of mortgages were subrime, which boosted the problem as well.
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  2. The guy bet AGAINST the housing market, so he UNDERSTOOD the problem. The problem was never deregulation, in fact there was no deregulation, it's propaganda. There was never any deregulation. Every year there are more and more regulations actually. The banking and finance industry is extremely regulated by gov't in order to PREVENT COMPETITION and to protect the big banks. Of-course Citi lost 95% of its value while this guy was there. But he understood the problem if he bet against housing
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