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  1. #7516
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    Quote Originally Posted by Posada20 View Post
    That is what I thought . Thank you
    Many regulations were passed after 2008 because they didn't want a repeat of overzealous loan approval.


    https://en.wikipedia.org/wiki/Regula...ubprime_crisis

    https://www.investopedia.com/article...rime-blame.asp


    The subprime mortgage crisis was the collective creation of the world's central banks, homeowners, lenders, credit rating agencies, underwriters, and investors.

    Lenders were the biggest culprits, freely granting loans to people who couldn't afford them because of free-flowing capital following the dotcom bubble.

    Borrowers who never imagined they could own a home were taking on loans they knew they may never be able to afford.1

    Investment banks, ratings agencies, and hedge funds also had a role to play in the subprime mess.

    Investors hungry for big returns bought mortgage-backed securities at ridiculously low premiums, fueling demand for more subprime mortgages.

    

  2. #7517
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    Quote Originally Posted by metswon69 View Post
    Many regulations were passed after 2008 because they didn't want a repeat of overzealous loan approval.


    https://en.wikipedia.org/wiki/Regula...ubprime_crisis

    https://www.investopedia.com/article...rime-blame.asp

    And what caused the banks to freely give out so much money ? Again it was actions by the federal and state governments. We already made it clear that all banks are controlled by the federal and state governments . And before you say greed , how can you expect banks to make money on loans when they already knew a lot of the people they loaned money to was not going to be paid back .

  3. #7518
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    Quote Originally Posted by Posada20 View Post
    And what caused the banks to freely give out so much money ? Again it was actions by the federal and state governments. We already made it clear that all banks are controlled by the federal and state governments . And before you say greed , how can you expect banks to make money on loans when they already knew a lot of the people they loaned money to was not going to be paid back .
    They aren't controlled. They are regulated. There's a difference and many regulations didn't change until after the subprime mortgage crisis in 2008. It was greed. Banks were giving out money to lenders who weren't deserving of loans, whether it was due to little equity, their mortgage payments exceeded the banks baseline % of the lender's net income, etc. Banks have guidelines. Usually a mortgage payment is not supposed to exceed 30% of your monthly net income. That was happening with regularity before the recession.

    I know because my dad was a banker for 20 years.

    That wasn't the sole reason for the crisis though. There were many mitigating factors.
    Last edited by metswon69; 06-24-2020 at 07:04 PM.

  4. #7519
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    1950: I bet in 70 years we'll all have flying cars.

    2020: This syrup is racist.

    -Twitter

  5. #7520
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    Cases of the virus here in Florida has gone down to about 2700 for the day . Meanwhile in California it is up to 6000 a day .

  6. #7521
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    Quote Originally Posted by Posada20 View Post
    Cases of the virus here in Florida has gone down to about 2700 for the day . Meanwhile in California it is up to 6000 a day .

  7. #7522
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    this thing is just a nightmare, to say the least

  8. #7523
    OhSoSlick's Avatar
    OhSoSlick is offline Formerly RCSownsU - PSDs Sexiest Fireman
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    Quote Originally Posted by goingfor28 View Post
    both states are seeing huge jumps. Don't see the argument to be had.

    Sent from my SM-G973U using Tapatalk
    Last edited by OhSoSlick; 06-24-2020 at 09:13 PM.
    He is talking about the one and only, pure trash: Ereck Flowers

    Quote Originally Posted by cowboyskilla View Post
    His stern face can give that impression but I don't feel that's the case. New York isn't an easy place to play at, so honestly I can see his confidence at an all-time low for him.

    I don't think he's a bust. I think he just needs the right motivation to pick himself up & play harder.

  9. #7524
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  10. Quote Originally Posted by Posada20 View Post
    How is testing going to prevent people from getting the virus ? I rather federal money go towards a vaccine or treatment for the virus . Or maybe even towards another stimulus .
    Testing is vital for many reasons. It is crucial in the understanding and treatment of the virus. Tests turn up the presence of disease-specific antibodies, it's considered evidence of past exposure and infection. While the no-longer-infected person is out of danger, the information about past infection status is extremely valuable.

    Confirming that someone has had the disease and is now immune helps public health officials and others understand the level of immunity in a population. A high percentage of people with immunity adds to "herd immunity," which protects the larger community.

    Knowing who has been infected also is important because people with immunity from COVID-19 can safely work in essential settings such as health care, public safety and the service industry. They also can work in "non-essential" settings with less need for extreme personal protection.

    Furthermore, for clinical care, testing for seroconversion – the technical name for the process of going from non-infected to infected to immune – can identify people whose plasma contains COVID-19-specific antibodies.

    This plasma could be used for infusions to treat the disease and prevent its severe complications. Use of such plasma, called convalescent plasma, is not new. In fact, it was a treatment approach during the 1918 flu pandemic.

  11. #7527
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    Quote Originally Posted by drt1010 View Post
    Testing is vital for many reasons. It is crucial in the understanding and treatment of the virus. Tests turn up the presence of disease-specific antibodies, it's considered evidence of past exposure and infection. While the no-longer-infected person is out of danger, the information about past infection status is extremely valuable.

    Confirming that someone has had the disease and is now immune helps public health officials and others understand the level of immunity in a population. A high percentage of people with immunity adds to "herd immunity," which protects the larger community.

    Knowing who has been infected also is important because people with immunity from COVID-19 can safely work in essential settings such as health care, public safety and the service industry. They also can work in "non-essential" settings with less need for extreme personal protection.

    Furthermore, for clinical care, testing for seroconversion – the technical name for the process of going from non-infected to infected to immune – can identify people whose plasma contains COVID-19-specific antibodies.

    This plasma could be used for infusions to treat the disease and prevent its severe complications. Use of such plasma, called convalescent plasma, is not new. In fact, it was a treatment approach during the 1918 flu pandemic.
    That’s the thing the only wide spread testing they have been doing is testing for the virus . There is no wide spread test that shows the level of immunity to the virus . And with how quickly it spreads and the large percentage of people who don’t get sick from it , it is impossible to ever determine what percentage of the population has it . People who have had it already can test negative for it too and usually do once the virus is out of their system . The type of test they truly need to do is an antibody test and not the one that is showing who tests positive or negative for it .

  12. #7528
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    Quote Originally Posted by Posada20 View Post
    That’s the thing the only wide spread testing they have been doing is testing for the virus . There is no wide spread test that shows the level of immunity to the virus . And with how quickly it spreads and the large percentage of people who don’t get sick from it , it is impossible to ever determine what percentage of the population has it . People who have had it already can test negative for it too and usually do once the virus is out of their system . The type of test they truly need to do is an antibody test and not the one that is showing who tests positive or negative for it .
    Jorge, you need both types of test. One to identify the spread and the other to determine immunity. It is imperative to know the overall infection rates in a given area and track it's spread. The exponential infection rates we have discussed are determined and predicted by these numbers. It allows public health professionals to plan a response and prepare treatment protocols. Immunity testing is valuable for the reasons mentioned above. The two go hand in hand. You can;t test for immunity without first testing and identifying the infected.

  13. #7529
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    Quote Originally Posted by drt1010 View Post
    Jorge, you need both types of test. One to identify the spread and the other to determine immunity. It is imperative to know the overall infection rates in a given area and track it's spread. The exponential infection rates we have discussed are determined and predicted by these numbers. It allows public health professionals to plan a response and prepare treatment protocols. Immunity testing is valuable for the reasons mentioned above. The two go hand in hand. You can;t test for immunity without first testing and identifying the infected.
    But the only testing that is really being done is the one determining who tests positive and who tests negative for the virus . Nowhere in the news do you hear about any antibody Tests being done . Only that there are more NEW cases of the virus . Nowhere do you hear out of the people Who test positive , how many of them required hospitalization . And just because testing won’t be covered on the federal level it doesn’t mean there will be much less testing going on . Heck over the last week or so California reported A decrease in the amount of people getting tested , and that was from the large counties . And this was before the federal spending on testing ended .

  14. #7530
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