Michael Moore on Maddow...The Next Bubble is....

[rsmith6621]

.....About to burst and the DEMOCRATS ARE AFRAID TO DO ANYTHING ABOUT IT.....Moore is talking about the commercial real estate industry...

[Name removed]

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[MadHound]

4. Or gee, maybe he is a normal human being, one who cares about his fellow humans

And their plight.

Have any regulations been put in place, no. It isn't just the estate values he's talking about, but all those fun financial tools that screwed us in the first place, credit default swaps, and the entire underregulated hedge fund industry.

Educate yourself, this crash was a little more complicated than a simple real estate bubble.

[Name removed]

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[karynnj]

16. Not true - If you want just two people try Phil Gramm and Christopher Cox.

It was Gramm, who wrote the legislation that allowed Credit default swaps and derivatives to be unregulated and who wrote the repeal of Glass/Stegall. Chistopher Cox, head of the SRC did nothing to regulate - which was why he was chosen and he raised allowable leverage from 12:1 to 33:1.

[kenny blankenship]

6. It's only trying to get its post count up

before going on its big run for glory (and pizza).

[lonestarnot]

14. and stanks too!

[MadHound]

15. Shh, be vewy, vewy quiet. . .

[trumad]

7. Fist you go after Lawrence O'Donnell

and now you're hitting Mike Moore.

Enjoy your brief stay.

[Faygo Kid]

8. I know Michael Moore. He is a deeply caring person.

Take your 23 posts and shove it.

[bvar22]

Why should MM care?

Because the SAME Too Big to Fail Banks that caused the first crisis also hold the mortgages on Commercial Real Estate.
DUH.

[Marr]

10. I've seen two posts from you, and they're both baseless smears of well-known liberals.

Gotta work on your subtlety.

[flyarm]

11. are you for real? where the f do you think jobs come from?..Hotels ? suppliers of commercial

real estate..do I have to lay out all the jobs that will be lost for you???????????

Alot of people work in commercial real estate ..do you even try to understand that???????????????

[The Doctor.]

23. I'm sorry... but it's an idiot.

I don't know it's name, but I know the shape of ignorance.

It won't walk the realms of reason for long.

[JVS]

13. Yeah, the rich never have a way of making their problems into those of the poor

[Liberal_in_LA]

2. articles today about the Napa wine industry. Foreclosures beginning to hit that industry

[flyarm]

17. and it ripples to all the workers! This bubble busting kills jobs!! eom

[ProSense]

3. This makes no sense.

Is he saying they're sitting back waiting for a crisis to happen?

Only people linked to CREs are concerned about them. The average American could not care less.

[MadHound]

18. Well, given that Dems have had the reins for over a year now,

And nothing has been done about regulating the financial industries that got us into this mess, yeah, I'd say that they're sitting back and doing nothing, waiting for a crisis to happen.

I'm an average American, and I know many average Americans who do understand what's going on and are worried sick about the bottom falling out of commercial real estate. I happen to like the nice downtown area that I have access to. I want to see them do well because they provide jobs and tax revenue, and they're a nice place to hang out, get a cup of coffee, and if they go down the tubes, our whole economy takes another fun little plunge over a cliff.

Anything else you want to know?

[flyarm]

19. really? are you for real?????..how about those that will lose jobs..will they fucking care??

Yaaaaaa thinkkkkkkkkk????????????

wow nothing you post surprises me anymore...not a thing!

[ProSense]

22. You mean like the jobs the in the banking and health insurance industries? n/t

[MadHound]

24. Are you saying that we shouldn't regulate the financial sector because it will cause loss of jobs?

n/t

[ProSense]

25. I said no such thing n/t

[MadHound]

28. Then what are you saying?

I'm really not getting where you're going here.

[ProSense]

30. What are you saying? Should the industry

be bailed out?

What are people suggesting?

[MadHound]

31. No, I don't believe that the industry should be bailed out

But I do think that it needs to be re-regulated to about where it was oh, say thirty years ago, before the whole Reagan/Bush/Clinton/Bush cartel tore everything to shreds.

Obama should have done that starting last year, if he had he might have just prevented this ongoing wave from crashing ashore. But instead he fiddle fart fucked around with HCR (really, he should have had that passed by August, as promised) and bailing out Wall St. in general, and now, thanks to that inaction we're fucked, again.

Anything else?

[ProSense]

32. Financial reform is imperative, but it is not going to do anything about the current CRE crisis. n/t

[flyarm]

26. I am saying all types of businesses..Hotels..offices..condo's .even winery's

and malls that are going belly up..and strip malls going belly up..commercial real estate encompasses many types of businesses! Complexes that house Doctors offices ..lawyers offices..

come on down to Fla..you can see shitloads of those buildings empty..or many many many ..for rent signs..or available signs!

and brand new condo's being auctioned off for pennies to the dollar!

oh and the county next to me has 15.9 unemployment ..another county in the east 17.1% of Fla..and Fla as a whole 11.9 %

after the local 11 pm news, the locals stations are doing job searching shows..it is that baddddddddddd!!

[sendero]

9. There is nothing they CAN do about it....

.... when will you folks figure this out?

[MadHound]

20. Oh, I don't know.

Reinstate Glas-Steagal would be a good start. Regulate the hedge fund industry. Put consumer protection back in place to prevent bank excess, you know, the sort of regulations we had thirty years ago that helped keep the greed at bay.

[Grand Taurean]

21. Outlaw this leverage nonsense too.

[sendero]

29. Yes of course..

... re-regulate the banks is a no brainer and should have already been done.

But it's not going to do SHIT about the CRE problem that we already have, not one goddam little bit if shit.

The powers that be have pulled out all of the stops trying to reinflate the housing bubble. That has failed, and the CRE abyss is almost as big.

There is nothing Congress, the president, the banksters or anyone else can do to stop the crash, nothing.

[ZenKitty]

34. +1

[babyblonde]

12. INSURANCE COS

invest in commercial real estate,that is where they put your money!

[Yavin4]

27. There Are Huge, New Office Buildings That Have Just Completed in NYC

And they are sitting empty. Prime Manhattan real estate. Two in mid town and one in Battery Park city.

[flyarm]

33. we have a jungle of those empty buildings here in Fla!! come on down!!

prime prime beach properties!!

One such was supposed to be built on Clearwater Beach..beach front..they knocked down the old hotel..and an International group was supposed to put up a huge glamorus Hotel..been sitting empty for 2 1/2 years now..the owners just put the property back on the market..they paid 40 million for the property..they just listed it for 30 million..a 10 million loss right off the top..and they will not get 30 million..because Holiday Inn also knocked down 2 years ago..and that lot sits empty too..right on the beach and water!!
And there is anpother empty lot on the Beach owned by Wyndham//sitting empty..they knocked the older hotel down over 2 years ago also..none of them can loans to build!..so the lots sit empty ..on beautiful prime beach lots.