Comments on: “Anatomy Of A Train Wreck” http://frontburner.dmagazine.com/2008/12/11/anatomy-of-a-train-wreck/ FrontBurner® has been called the best blog in Dallas (repeatedly), a snarky celebration of ignorance, and a daily conversation about Dallas among the editors of D Magazine. Fri, 10 Feb 2012 03:59:30 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: mm http://frontburner.dmagazine.com/2008/12/11/anatomy-of-a-train-wreck/comment-page-1/#comment-55588 mm Fri, 12 Dec 2008 20:40:02 +0000 http://frontburner.dmagazine.com/?p=17832#comment-55588 @wja4507 - Yes, I read the article. His empirical data seems fine, and statistical analysis is top notch. And "ignored" might be too strong a word, but the role of the speculators was definitely downplayed. The people who bought houses they couldn't afford got their scolding, as did the federal agencies that enabled it. But the speculators who were just as big a part of the problem seemed to get off light, in my reading. In fact, the author himself confirms this: "This report concludes that, in an attempt to increase home ownership, particularly by minorities and the less affl uent, virtually every branch of the government undertook an attack on underwriting standards starting in the early 1990s." Seems analagous to saying that banks deserve to get robbed, if nobody is there to stop the criminals. @wja4507 – Yes, I read the article. His empirical data seems fine, and statistical analysis is top notch.

And “ignored” might be too strong a word, but the role of the speculators was definitely downplayed. The people who bought houses they couldn’t afford got their scolding, as did the federal agencies that enabled it. But the speculators who were just as big a part of the problem seemed to get off light, in my reading.

In fact, the author himself confirms this: “This report concludes that, in an attempt to increase home ownership, particularly by minorities and the less affl uent, virtually every branch of the government undertook an attack on underwriting standards starting in the early 1990s.”

Seems analagous to saying that banks deserve to get robbed, if nobody is there to stop the criminals.

]]> By: wja4507 http://frontburner.dmagazine.com/2008/12/11/anatomy-of-a-train-wreck/comment-page-1/#comment-55488 wja4507 Fri, 12 Dec 2008 12:57:59 +0000 http://frontburner.dmagazine.com/?p=17832#comment-55488 @mm - exactly what are the "lot of other reasons" that the professor ignored? Did you even read it? If so, show me where his empirical data is incorrect, or statistical analysis misses the mark. It's a fine article and I agree with Wick. @mm – exactly what are the “lot of other reasons” that the professor ignored? Did you even read it? If so, show me where his empirical data is incorrect, or statistical analysis misses the mark. It’s a fine article and I agree with Wick.

]]> By: The Other RLS http://frontburner.dmagazine.com/2008/12/11/anatomy-of-a-train-wreck/comment-page-1/#comment-55454 The Other RLS Thu, 11 Dec 2008 23:38:46 +0000 http://frontburner.dmagazine.com/?p=17832#comment-55454 I think I know this Prowness fellow. He needs to be spending more time at his day job, which does not involve mortgages. I think I know this Prowness fellow. He needs to be spending more time at his day job, which does not involve mortgages.

]]> By: mm http://frontburner.dmagazine.com/2008/12/11/anatomy-of-a-train-wreck/comment-page-1/#comment-55425 mm Thu, 11 Dec 2008 20:41:48 +0000 http://frontburner.dmagazine.com/?p=17832#comment-55425 Seems like a rehash, along the lines of "the whole economic crisis happened because Clinton wanted minorities in houses they couldn't afford", ignoring a lot of the other reasons. Seems like a rehash, along the lines of “the whole economic crisis happened because Clinton wanted minorities in houses they couldn’t afford”, ignoring a lot of the other reasons.

]]> By: gs1s http://frontburner.dmagazine.com/2008/12/11/anatomy-of-a-train-wreck/comment-page-1/#comment-55420 gs1s Thu, 11 Dec 2008 19:53:47 +0000 http://frontburner.dmagazine.com/?p=17832#comment-55420 Will read now, but it will be tough to top this one by Michael Lewis: http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom Will read now, but it will be tough to top this one by Michael Lewis:

http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom

]]> By: 84692 http://frontburner.dmagazine.com/2008/12/11/anatomy-of-a-train-wreck/comment-page-1/#comment-55419 84692 Thu, 11 Dec 2008 19:48:21 +0000 http://frontburner.dmagazine.com/?p=17832#comment-55419 Damn you Josh. Damn you Josh.

]]> By: Josh Pearson http://frontburner.dmagazine.com/2008/12/11/anatomy-of-a-train-wreck/comment-page-1/#comment-55418 Josh Pearson Thu, 11 Dec 2008 19:47:47 +0000 http://frontburner.dmagazine.com/?p=17832#comment-55418 Just reading the headline, I thought this was a follow up on Tim's <i>Frontburner For Your Ears</i> post earlier. Just reading the headline, I thought this was a follow up on Tim’s Frontburner For Your Ears post earlier.

]]> By: km http://frontburner.dmagazine.com/2008/12/11/anatomy-of-a-train-wreck/comment-page-1/#comment-55407 km Thu, 11 Dec 2008 18:55:03 +0000 http://frontburner.dmagazine.com/?p=17832#comment-55407 He does business lying down? He does business lying down?

]]> By: yeah, right http://frontburner.dmagazine.com/2008/12/11/anatomy-of-a-train-wreck/comment-page-1/#comment-55399 yeah, right Thu, 11 Dec 2008 18:07:30 +0000 http://frontburner.dmagazine.com/?p=17832#comment-55399 This is a good example of why the Federal Reserve needs to be independent of political influences. I'd look at how Richard F. Syron, former head of Freddie Mac, was appointed president of the Boston Fed and put in the position of directing research towards presenting evidence that now seems not so independent. This is a good example of why the Federal Reserve needs to be independent of political influences.

I’d look at how Richard F. Syron, former head of Freddie Mac, was appointed president of the Boston Fed and put in the position of directing research towards presenting evidence that now seems not so independent.

]]> By: Incognizant http://frontburner.dmagazine.com/2008/12/11/anatomy-of-a-train-wreck/comment-page-1/#comment-55398 Incognizant Thu, 11 Dec 2008 18:06:17 +0000 http://frontburner.dmagazine.com/?p=17832#comment-55398 Well, if the guy has a lot of Prow, why not? Well, if the guy has a lot of Prow, why not?

]]>