Walter Bergner
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Walter Bergner commented on The Fall of Lehman Brothers on September 20, 2008, 11:42 AM
Crabitha apparently misunderstood me.I was not referring to average, run of the mill investors. I clearly referred to those out to make a "killing" and seeking to keep up with the bragging of their neighbors.
Walter Bergner commented on The Fall of Lehman Brothers on September 16, 2008, 2:32 PM
With all due respect, the issue is not fraud. The issues are the greed and lack of sophistication and intelligence of investors who are pretty much lemmings, and the street and market smarts of the the "financial industry".Unsophisticated and greedy investors want to keep up with the Joneses who they hear have made "killings" in the market. They are played by the banks - brokers - and investment bankers who create new investment vehicles, (e.g. derivatives,) which are several degrees removed from the ultimate "investor", (as are the investors in securitized mortgage interests).While the new creations, (investment vehicles,) do not even look like the other horses on the track, the unsophisticated investor sees them as thoroughbreds in a race of thoroughbreds. [The metaphor of the track is intentional, there being only a slight difference between betting on horse race and betting on the market. This is even more so where the investor/bettor cannot even get a full view of the horse on a track covered by fog.The suggested solution is greater regulation and a requirement that a substantial portion of all derivatives be held by the financial institutions which create such "securities".
Walter Bergner commented on The Subprime Meltdown on March 26, 2008, 2:49 PM
This is the third instance, (of three attempts,) of miscategorized items. The thesis states; "where did the housing crisis start?" The submission talked only of the crisis in the securities market. It did not address, or refer to "a housing crisis"!
Re: Different Way of Looking at the Sub-Prime Mortgage Crisis
Irrelevant and invalid. In essence thesis is that individuals can't properly assess their ability to carry, much less the amount, of a proposed mortgage (or loan).While this is a way to "look at" the Sub-Prime Mortgage Crisis, it makes no attempt, nor does it suggest a way to avoid the current or future similar crises. In essence the statement of the "expert" is no more than a recognition of the existence of a problem, the existence of which is not in dispute or questioned. … Read More
March 26, 2008 |
Degrees in engineering and law. Practiced law for 55 years. Served in politics and local government.Advised businesses.
Walter Bergner commented on Reaching Your Audience on November 3, 2008, 2:02 PM
Ridiculous. No substance. An insult to intelligence.comment NOT based on my political opinions.