| Author | Message | ||
     Corporatemonkey |
And can this be true (I just got home from school) that Congress is taking some time off for a Jewish holiday? Yes indeed... This jewish holiday (Rosh Hashanah- Jewish newyear) it a time to focus on faith, not work. It is considered bad form to conduct business over these days. Of course my thought is, how many folks in washington are jewish, and more importantly I bet a large percentage of the jewish population would prefer washington get this bailout passed | ||
| Corporatemonkey |
Temporaly allowing it to appear we are doing good but all it is doing is allowing more DEBT. Time to get a handle on what really is happening. This has gone way beyond someone buying a house they can't afford. Because the credit markets are scared, folks (and businesses) that can afford credit cannot get it. Think of it this way. Credit in all of its forms is like water. When that spigot gets turned down, we all go thirsty. Court is completely right in say some of members are going to get a paycheck surprise soon if things don't loosen up. | ||
| Ferris_von_bueller |
This nation had debt from the very beginning. Excessive debt or mismanaged debt is not good but debt makes the world go round and if you think we are going to have smooth sailing without it, you're in for a huge surprise. Go Google , " Great Depression" And can this be true (I just got home from school) that Congress is taking some time off for a Jewish holiday? It might be all over by Thursday with nothing left to do but pick up the rotting corpse. | ||
| Ryker77 |
Think of it this way. Credit in all of its forms is like water. When that spigot gets turned down, we all go thirsty. Think of this. Perhaps we have been drinking too much to begin with. Our bellies are full of that water and the well is running dry. Pumping in more water will only allow us to drink more. In the end the well is running dry and we are over drinking. Court is completely right in say some of members are going to get a paycheck surprise soon if things don't loosen up. It sucks. I'm stuck with two house payments and probably won't be able to sell the first house becuase banks are tighting standards. Might have to rent the home. So a Bailout my help me. But I am still against it because I know its short term fix. This nation had debt from the very beginning. Not really. Consumers at one point did have savings and growth. Last few years we've seen personal savings decrease. Credit card debt increase. This is the last 5 years or so. Excessive debt or mismanaged debt is not good but debt makes If you think that then what about super excessive debt? the world go round MONEY which is why our doller is decreasing in value. and if you think we are going to have smooth sailing without it, you're in for a huge surprise. Go Google , " Great Depression" | ||
| Snowscum |
Fannie Mae and Freddie Mac=Thank Carter Fannie Mae and Freddie Mac giving out loans to people that couldn't afford it(Mostly Illegals)While the private sector couldn't touch=Thank Clinton Fannie Mae and Freddie Mac Deregulated, told to compete with the free market. Couldn't hang.=Thank Bush Miss Nancy said they were going to take care of it 2 years ago. Meanwhile people like Hussein took bribes to look the other way.=Your mess today...... | ||
| Hexangler |
uh....=Your mess today...... are you not one of us? BTW Ryker, quotes are in color your ideas are in black. | ||
| Ducxl |
WOW,what an exchange.I'M John Q. Public,and i've perceived this as a money grab for greedy Wall St. Isn't "perception" reality? I'm thankful for this dialogue.I (this one) listened to the latest video intently.Very informative,and makes me want to support McCain again if i vote for a frontrunner. That video is eye opening  As a laborer,i feel our Country has become a nation of snake oil salesman(Wall st.). I've seen entire cities that once had huge industries but are now shuttered and outsourced.We make far less than we sell in hard goods.China owns our sorry butts. The housing ordeal?? True story: a brother-in-law (i know) bought a house without NEARLY enough money.Re-financed or whatever to borrow money to re-model the house...THREE TIMES!! His wife is "Bi-Polar and tries to board planes to visit her husband at the White house(on disability).A real nut job. They've stolen checks and cash to the tune of $35000 from their well off mother.They're over 4 months behind in their mortgage. NOW,they happily trod along feeling they'll be bailed out by some bill about to be enacted. My point...Some people just DO NOT belong in home ownership!!! Some Wall st, types DO NOT belong THERE! I've been responsible.I do not owe ANYONE ANY MONEY. I knew home ownership was beyond me.But now these fraudulent home owners are expecting help because they were "preyed" upon by lenders? Give me a freakin' break!!  I still say NO to any financial assistance by MY government.Heck,even the Republicans voted against it.CAPITALISM,FREE MARKET FORCES!! There a lot of people who do NOT belong in homeownership.Give them the boot and let them rent in the innercity "poorhouses". | ||
| Rainman |
We're doomed. Doomed, I tell you. But then, I'm one of those evil, anti-American liberal moles in the media who have besmirched Newt Gingrich and made the entire world collapse around us. We should let the government control the media. That way the REAL truth would be get out and not be filtered through the hired hands of a bunch of conservative shareholders in large corporations that own about 90 percent of the nation's news outlets. | ||
| Greenlantern |
We're doomed. Doomed, I tell you. But then, I'm one of those evil, anti-American liberal moles in the media who have besmirched Newt Gingrich and made the entire world collapse around us. So it was you after all! You sir are most assuredly responsible for the destruction of tried true American values, Terrorism, Pornography and Elios Pizza going from Cheddar to Mozzarella. Thank the creator we have decisive legislators in the Capitol ever vigilant against Socialist miscreants such as yourself. In closing I would also like to say to you Thppppp!  | ||
| Court |
>>>Some Wall st, types DO NOT belong THERE! Duc: You nailed it. Folks who never should have been on the train are now demanding premier seating in the diner car. This applies to the homeowners who bought $500,000 homes on $35K incomes and financed 100%, all the time being told "don't worry about it". It also applies to LOTS of folks on Wall Street. My wife spent the last year working with a guy, patently unqualified, no professional training, tough guy from the Bronx, who started out as an office helper and somehow ended up in the accounting group. Screamer, shouter, yeller and the guy last year walked away with $2M in bonus AFTER his incompetence had cost the firm $5m. He kind got the exchange rates reversed on a large foreign currency transaction. Interesting how folks, lacking the proper education and credentials, seem to think they are entitled be it housing or a flashy job. It's time to reexamine the old concept of personal responsibility. I was always taught to work hard, be responsible, get the best education (still in school at 55) but those days seem to be fading . . . Interesting to hear about McDonald's perhaps being unable to make a payroll. The current legislation got unfairly tagged as a "bailout" and it's really should be called the "Innocent Taxpayer Protection from The Effects of Entitlement Legislation" program. The last one, the saving and loan "bailout: ended up MAKING the feds a bunch of money. I don't like the program very much but I like the other option less. If you think . . . not you, but some folks . . .that this legislation is "teaching the fat cats on Wall Street" a lesson you should board one of the two Gulfstream G4's that the guy my wife used to work for has chartered next weekend to fly his entire staff to Mikinos for a birthday party. George Soros may have lost millions yesterday but I don't think he missed dinner last night. Point is . . . be damned careful who gets taught the lesson. Entirely personal opinion on my part . . . damn good time to be a construction worker, eh? | ||
| Wolfridgerider |
Just upped the amount I am putting in my 401K BUY BUY BYE BYE!!!! | ||
| Ferris_von_bueller |
A reader comment from a news article...Edmund Conway is an idiot. Sledgehammer ? The market in a capitalist economy is a living, breathing thing. Let it run its course. If it shakes out some bad apples, so be it. If some big corps fail, due to dumb risks, that's their fault. Maybe Americans shouldn't buy a new Hummer on Credit for a few months. No big deal. It will rebound, and other parts of industry will flourish on the scraps that fall under the picnic table. Truly ignorant. I'm beginning to think the Government shouldn't try to do anything. Let it all fall and when the rivers of tears start flowing tell the people to "eat cake". F'em, I have ammo and I have no intention of starving. | ||
| Madduck |
I live in small town USA, 18,000. My local banker was having a formal investigation regarding his lending practices because he refused to total all of the income from the 15 unrelated illegal aliens living at the residence. Investigation went away when he took the banks attorney and a regional ICE agent out to verify income and residence. Court was more than willing to side with this band of illegals and force him to write a loan. I am leaning in favor of just executing judges under some form of posse comitatus statute. Court system is just nuts also. | ||
| Madduck |
Court, I found this: on MSNBC site yesterday and was wondering if it could be true. " Fear, uncertainty about mounting losses threatens global economy ANALYSIS By John W. Schoen Senior producer MSNBC updated 8:30 p.m. CT, Mon., Sept. 29, 2008 "The failure of a massive $700 billion bailout financial plan Monday removes a critical firewall intended to keep the credit market collapse from spilling over into the global economy. But even if the plan is somehow revived, cracks are beginning to widen in the foundations of the global banking system." Are we really just saving international banking?? A friend works at CreditSuisse/First Boston and was worried about me and my retirement accounts, says that only about a third of the ARMs have been dialed into system. Rest are coming in the next two years. I assured him that my move into guns, guitars and motorcycle was complete and he didn't have to worry :-) | ||
| Blake |
'Fannie Mae Eases Credit To Aid Mortgage Lending' | ||
| Corporatemonkey |
Franklin D. Raines (Obama Advisor) Give it up Blake, you are becoming just as bad as Pelosi.  This is not a time to be making snarky partisan comments. Instead of constantly whining on how this is all the Democrats fault, how about addressing the current situation. People's lives are going to be ruined over this. | ||
| Spatten1 |
Screw Paulson and his desire to be a benevolent dictator. Just give government loan guarantees and letters or credit so the strongest remaining banks can continue to loan money to business and people with good credit, at good rates. This will lubricate the economy sufficiently. It doesn't have to be so complicated, if you don't need to save the companies that totally screwed up with over-leverage (and are politically connected). Reward the conservative, and let the gamblers crash. | ||
| Blake |
"Franklin D. Raines (Obama Advisor)" Barack Hussein Obama (2nd on list of best bribed recipients of money from Fannie Mae and Freddie Mac. Received more than 20 times what other politicians recieved from them in the past four years.) | ||
| Snowscum |
One word........Rent. | ||
| Corporatemonkey |
One word........Rent. Someone needs to own the place you rent. Look how many renters are being forced out because the landlords are behind. Blake, both politicians have gotten large donations from questionable groups. Wall St. seems to be betting (buying?) Obama, along with the housing companies, the tech industry, etc... Most of these same groups are funding McCain too. It is all about access. They don't really care who is in office, they just want to be able to call. You obviously have stated (droned?) your dislike of Obama. There is a perfectly fine anti-Obama thread in the backfire section, I would ask you take your views there. This thread is about what is happening on Wall St/Main St. | ||
| Ferris_von_bueller |
One word........Rent. A person requires a job to own or rent | ||
| Hexangler |
One word....Homeless. | ||
| Ryker77 |
Reward the conservative, and let the gamblers crash. I have the credit and income ratios to live in a nice gated golf community. Instead I live down the street in a developer foreclosure house. I could afford to drive a nice used Porche instead I drive a Civic. People have forgot something that my dad always stressed to me. You only own the house when you don't make payments. Second thing I learned was the true value of an item is soley based on what a buyer is willing to pay. House prices were false fake bogus. | ||
| Ryker77 |
People are also forgetting that the system that put us in this place needs to be changed. How house values are determined needs to be modernized and transparent. How personal credit scores are created need to be modernized and transparent. Realtors who do nothing much more than tell me what a bathroom is as they open the door. And does it really need to cost several thousand dollars to create a loan? | ||
| Johnnymceldoo |
Maybe some of the politicians who made big profits from fannie and freddie will turn those profits over to people who face homelessness. Surely obama will being the protector of the helpless. | ||
| Blake |
Well CM, what is happening on Wall Street is due in large part to one of the men now advising Barack Obama. Seems pertinent to me. | ||
| Corporatemonkey |
Blake if you are talking about Raines, it has been proven many times that he is not, nor has been and advisor to Obama. This is just a nasty internet rumor. But if you look who is in his camp (example Volker), he has surrounded himself with bright folks. McCain, as we have discussed before has Gramm, Fiorina, and the detestable Meg Whitman (my personal opinion on how she has handled Ebay). Hey Court, what does your wife think of the Libor rates? I was shocked when I saw it rise 2.5% to over 6.85%. | ||
| Madduck |
Sorry Court, I just realized that your sharing your wifes opinions could be a huge problem, ignore my pointless request. Paul | ||
| Danger_dave |
Let the Gladiator fix it. | ||
| Blake |
"Blake if you are talking about Raines, it has been proven many times that he is not, nor has been and advisor to Obama. This is just a nasty internet rumor. " I'm afraid not. (Washington Post) |
