Wednesday, Oct 24, 2007
You must watch this!!
You Tube: Bird & Fortune CLASSIC!!
This 8 min. movie both explains subprime better most of us ever could and will have you rolling off your chair! The first bit mocks bankers in general and the show moves onto sub-prime after 3mins. ENJOY!!
Posted by planning4acrash @ 01:17 AM (1286 views) Add Comment
17 Comments
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1. planning4acrash said...
By the way, I got a reply from propertysnake to an earlier thread: (I got rid of my name when posting the message here to retain anonymity!!)
wrote:
Hi X,
Simple explanation, the data sources that we are using at the moment are not 100% reliable and sometimes there's two listings with the same identifier! It's something we should pay more attention to, but the site doesn't currently interpret the data correctly. However it is pretty rare, so at the moment we haven't sorted it.
Hope that helps!
Cheers,
-------------------------
Original Message sent to propertysnake:
On 10/22/07, XX
From: X
Email: XX@hotmail.com
Message:
http://www.housepricecrash.co.uk/newsblog/2007/10/blog-where-do-these-numbers-come-from-7583.php
I was rather hoping that one of you could explain this and answer the question. It confuses me!
2. Snow-ball said...
This is just great! esp the last bit about the pension funds.
3. Fulhamfrankie said...
Important.... well said .....calling it as it is.
Finally as I live in New York (expat) and have watched Bird and Fortune often, I am so grateful to have a story told without fear of prejudice. I was immediately shocked and then realised how important telling it how it is ...is.
4. paul said...
It might be worth remembering that propertysnake is a agglomeration site - it doesn't generate any original content, so the GIGO rule applies - Garbage In = Garbage Out.
So the quality of what they are able to post is highly dependent on the sites that they poll.
5. su said...
P4ac. Thanks for following up those queries with PropertySnake.
The mini-movie was great too. Really funny!
6. japanese uncle said...
It clearly illustrates how these financial thugs are thinking about pension funds. They see it as nothing more than a deep pocket from which they can siphone as much as they like, and that legitimately. No wonder they are becoming empty quickly.
7. planning4acrash said...
Property snake ticker: 108,902 and counting!!!
They'll soon be giving them away!!
8. inbreda said...
fantastic video. there's lots of other related vids on youtube and some of them are excellent. You would hope in this day and age of the t'interweb and stuff that people would educate themselves and not allow the bankers to get off the hook.
wishful thinking.
9. su said...
Inbreda. Before people can educate themselves they need to first realise that they are ignorant of the facts and secondly know where to go to find the information. Most people would turn to the newspapers and TV news for their information. It is only when they start to realise the facts as broadcasted don't seem to be adding up that they will turn to other sources like this site.
10. uncle tom said...
Very clever guys - a wonderful combination of comic, yet factually accurate scriptwriting; superb acting, and of course the ability to memorise a long and very difficult script.
Another gem!
11. Still-waiting said...
Inbreda... I'm edumacated now due to that youtube video. But how exactly do you suggest I prevent the bankers from getting off the hook? What are you doing to prevent them getting off the hook? Voting the government out so that they can be replaced by another one that's just the same? Frankly, until I'm starving hungry, I'm not likely to spend my time starting a violent revolution.
12. dohousescrashinthewoods said...
Found this other part - cracking - about the credit crunch:
http://www.youtube.com/watch?v=br8mOmH9frE&NR=1
13. David Smith's Sub Prime. . . said...
So what exactly is your view on property snake then Paul?
14. Ihopeitgoeswithabang said...
DHCITW:
"I dont know anything about tax I don't pay any"
LOL
2 great links!
Should play it on the 6 o clock news !
15. Icarus said...
It all comes back to Greenspan/Bush flooding the world with so much liquidity to avoid recession after the dotcom crash and 9/11. Other countries followed suit so that their currencies wouldn't rise against the US$. This give rise to worldwide asset bubbles, especially in property, and big returns to banks/hedge funds/financial markets. Pension Funds and Insurance companies realised that the returns on their investments were relatively low, so they were under pressure to act more like the irresponsible bankers who were coining it in. Pension Funds became the end investor - the ones to whom the financially engineered toxic paper was sold, the end of the line in the pass-the-parcel game. John Citizen will find out that his house and his pension are worth a lot less than he thought and he will realise that it was he who paid for last year's City bonuses.
16. voiceofreason said...
Totally agree about people's general ignorance. they just trust those in charge too much.
My colleagues were pretty amazed and worried when I sent them an email explaining Yen carry trade, Securitization of mortgages, CDOs, credit default swaps and CDS derivatives ...
17. Ian said...
Excellent video, it ought to be added to the front page of housepricecrash with the others