Konstantin Antselovich » crisis finance public radio npr informat http://konstantin.antselovich.com random generator Wed, 25 Feb 2015 01:21:33 +0000 en hourly 1 http://wordpress.org/?v=3.1 Crisis: You heard it on NPR http://konstant1n.livejournal.com/5929.html http://konstant1n.livejournal.com/5929.html#comments Mon, 13 Oct 2008 07:47:22 +0000 Random Journal http://konstant1n.livejournal.com/5929.html



Again, some info about the current economy, crisis, finances, etc. Recent article in NY Times (Opinion Page) suggest that somehow computers, math, and complicated financial models are to blame for the current economic situation. Whahaha, what a total BS! Some folks bought up a bunch of "NINA" mortgages, mixed them up with some other slightly better ones and sold other folks as "mortgage-backed" securities [and made very nice commissions along the way]. Now when homeowners stopped paying those [adjustable-rate] mortgages as interest rose up and everything went down to pipes because of that, those folks are saying, "Look ma, computers got it wrong. Math is too complicated". Yeah ...




NPR's show This American Life: Giant Pool of Money

1hr


Couple of weeks ago NPR did an excellent story that gives you a sense about how it all started and what it was all about.
That's the best explanation so far that I've heard. Basically it has to do with a surplus of money around the world, low interest rate and believe that real estate prices never go down. But listen to the story, it's a really good one.]]> http://konstantin.antselovich.com/archives/2008/10/13/crisis-you-heard-it-on-npr/feed/ 0 Crisis: You heard it on NPR https://konstant1n.livejournal.com/5929.html https://konstant1n.livejournal.com/5929.html#comments Mon, 13 Oct 2008 07:47:22 +0000 konstant1n https://konstant1n.livejournal.com/5929.html



Again, some info about the current economy, crisis, finances, etc. Recent article in NY Times (Opinion Page) suggest that somehow computers, math, and complicated financial models are to blame for the current economic situation. Whahaha, what a total BS! Some folks bought up a bunch of "NINA" mortgages, mixed them up with some other slightly better ones and sold other folks as "mortgage-backed" securities [and made very nice commissions along the way]. Now when homeowners stopped paying those [adjustable-rate] mortgages as interest rose up and everything went down to pipes because of that, those folks are saying, "Look ma, computers got it wrong. Math is too complicated". Yeah ...




NPR's show This American Life: Giant Pool of Money

1hr


Couple of weeks ago NPR did an excellent story that gives you a sense about how it all started and what it was all about.
That's the best explanation so far that I've heard. Basically it has to do with a surplus of money around the world, low interest rate and believe that real estate prices never go down. But listen to the story, it's a really good one.]]> http://konstantin.antselovich.com/archives/2008/10/13/crisis-you-heard-it-on-npr-2/feed/ 0