I'm going to channel my inner fecal face here...
Shrakbiscuit you continue to show that you are as dumb as a box of rocks or a bag of dicks or whatever.
Not only dumb but biased too. Dumb and biased. You need to go to remedial bag of dicks school. That could help you. Maybe
Your boy's article sucked a bag of dicks, straight up. It did not actually point out anything specifically bad about Dodd-Frank, as janitor noted.
It just cruised along, revising history, as if there was a shortage of Prime mortgages that went belly up:
As a result of the gradual deterioration in loan quality over the preceding 16 years, by 2008, just before the crisis, 56 percent of all mortgages in the U.S.—32 million loans—were subprime or otherwise low quality.
But we can see from the chart a few posts back showing mortgage snafus, the 56% that were subprime failed less than the 44% that weren't, which means Prime was worse, which means your boy's whole spiel about mortgage underwriting standards is based on his own ignorance of the facts or illiteracy. Or the meal ticket he shills for.
Then he goes on to cry that the Chocolate Smoothies and Mocha Frappuccinos they made out of shit and sold each other 100 times over resulted in E. Coli poisoning, and blames the people who took the shit:
With the largest housing bubble in history deflating in 2007, and more than half of all mortgages made to borrowers who had weak credit or little equity in their homes, the number of delinquencies and defaults in 2008 was unprecedented. One immediate effect was the collapse of the market for mortgage-backed securities that were issued by banks, investment banks, and subprime lenders, and held by banks, financial institutions, and other investors around the world. These were known as private label securities or private mortgage-backed securities, to distinguish them from mortgage-backed securities issued by Fannie and Freddie. Investors, shocked by the sheer number of mortgage defaults that seemed to be underway, fled the market for private label securities; there were now no buyers, causing a sharp drop in market values for these securities.
Marking-to-market worked effectively as long as there was a market for the assets in question, but it was destructive when the market collapsed in 2007. With buyers pulling away, there were only distress-level prices for private mortgage-backed securities.
This had a disastrous effect on financial institutions.
I tell you one thing, if you read stuff like this on the regular, it is no wonder you despise Liberal Arts colleges and their staff, and I can't blame you.