CNBC is premiering a special documentary tomorrow night that explores the relationship between risk and reward in real estate.
There have been a number of specials on this topic but it is always good to review what is happening on the ground right now and reflect on how we got here. I watched the trailer and it is compelling.
CNBC sent me the announcement about the special tomorrow:
>Was reading your blog and thought the upcoming documentary on CNBC might interest you and your readers…
>Tomorrow (Thurs Feb 12), the CNBC Original “House of Cards” will premiere at 8p ET / 9p PT on CNBC. “House of Cards” explains how we got into today’s economic mess – with inside accounts from key players from home buyers to mortgage sellers to Alan Greenspan.
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Wow! We don’t want to miss this program.
i want my kids to see this documentry
i am watching now and i am concerned @my own business
Just goes to show that the biggest criminals on Wall Street are not the Bernie Madoffs. No. The worst criminal m n fer’s are Moody’s and Standard and Poor. How we allow these POS to systematically destroy american icon after american icon by downgrading their paper to BBB status while they announce to the world that a CDO full of subprime non-documented loans is AAA is beyond me. If Obama wants to make change, he needs to expose S&P and MCO for what they have done and continue to do. Their latest american victim: Alcoa. Book value $20B. No debt. Suddenly downgraded by S&P to BBB- after being raised by the same bastards from one to two stars. Unconcsionable, and we sit and let it happen.
Agreed on credit ratings. Amusing tale from Barry Ritholtz at ritholtz.com/blog on how his book got quashed by McGraw Hill (S&P parent) because of criticism of ratings agencies. one word on cnbc — there wasn’t much skepticism from them as the bubble inflated, so beware any hyperbole as it implodes.
David Faber should win an emmy. This program should be required viewing for everyone in America. I can attest we have a sea of forclosures on my block. Just a matter of time before Vegas gets very very dangerous without tax payers paying their share of basic services.
This is crazy but it is so true!
Obama really isn’t amounting too much change at all…”Business as usual” If Mr.Obama really has what it takes…He would prosecute as many key players as he can and make them pay every dime back that they stole…Not ask every American to foot the bill-“What kind insanity is this”? Be a real hero for once and truly do the right thing.
We all need to make sure the top officials are doing their job! That is what we pay them for!!!
Its really hard to believe that the whole scandal was not engineered from the beginning. Allow stated income loans to happen, create junk CDOs that get a AAA ratings, and sell them to mainly foreigners through Wallstreet. United states conned the entire world, and will come out of the crap pile smelling like a rose. The result plenty of housing and infrastucture paid for on the backs of the foreigners. That mexican man in the show is no worse off after the forecloser, he never had a dime invested in the 1st place. He probably now owns a car, nice clothes and plenty of other assets that he bought after he refinanced his house. Alan Greenspan is an idiot, looks smart but is dumb like a rock. He blamed human nature for the mess for Gods sake. His job is to control the growth of economy if an economy is red hot interest rates should not be lowered in the contrast they should be raised to keep the economic engine from overheating. When will governments get it and will people start to take responsibility.
being is the real estate business if you watch this show you will have a much better understading as to how we got to where we are today