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27
United States credit rating
Thanks, I used the term sub-prime, because the 2008 crisis is generally called the "Sub-prime mortgage crisis" It's important not to confuse the AAA ratings by the credit agencies with the Alt-A and other credit score ratings by FICO. A-minus is traditionally defined as mortgage borrowers with a FICO score of below 660 while Alt-A is traditionally defined as loans lacking full documentation or with alternative documentation of ability to repay . This not the same as a A rating by the credit agencies. it may well have been the case that the probability of mortgages going into default was high, even among non-sub-prime, however, what happened was that there innumerable securitisations by banks which packaged these assets, including sub-prime loans into Cayman Islands vehicles that had no liabilities. By virtue of these vehicles having no liabilities at all the rating agencies gave them stellar credit ratings, usually AAA, because they only had assets. This was very clearly a grave mistake. Because eventually when sub-prime borrowers defaulted the market started to lose confidence in these securities, issued by the Cayman vehicles, because they were backed solely by these assets, ie mortgages and also sub-prime mortgages, which potentially would be worthless when people stopped repaying them. This was never factored into the risk analysis by Moody's, Fitch and S&P, who gave out AAA ratings like confetti solely based on the fact that these Cayman vehicles had no liabilities. The rating agencies did not do their job and analyze what would happen if the mortgages don't get repaid. Of course banks were to blame too because they gave mortgages to people who shouldn't have gotten one as they had no means to repay. -
17
RFK Jr. Urges Public Not to Seek Medical Advice from Him Amid Vaccine Debate
I just looked at a random google link : https://worldpopulationreview.com/country-rankings/average-iq-by-country -
146
How to tell if you're dealing with a MAGA folk?
Anybody who feels they need to carry a firearm has made some damn stupid choices. 1) Why would anybody live in a place where they think they'd need to carry a gun? 2) Why would anybody go someplace where they think they would need to carry a gun? Firearm ownership and concealed carry is not for the strong and smart. It is for scared folks who have made damn foolish choices about where to live and where to visit. How anybody could miss this simple point is beyond me. -
0
Joint bank account with online banking etc
Which banks offer joint bank accounts where both parties can have access to an app with QR code payments and everything else that comes with online banking? We have a joint account with K bank but they only allow 1 person to have an app, pay from the app and to control the account from it. All we really have jointly is 2 ATM cards. Kind of defeats the objective, especially in this era of a cashless society. Anyone have any joy in setting this up? My SCB and the wife's have also said they can't do that. Seems weird, I can't believe couples have to have separate banking lives here. -
21
Report Thaksin Treatment Saga: Health Minister Faces Crucial Decision
Sending the Prime Ministers father to prison ???? I don’t think so, it’s not going to happen ! -
86
Crime Brutal Bloodshed in Pattaya: Briton Stabbed, Suspects Vanish
Could you speak up a bit please?
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