Posted:
#26
I still don't get why Bush did a 180 on this? KOAJ, any news on that rider about tracking plastic transactions?
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Unbelievable, Bush signs housing bill
Posted:
#27
Last year, Freddie Mac
paid Chairman and Chief Executive Richard Syron nearly $19.8 million in
compensation even though the mortgage company's stock lost half its
value. During the same period, Fannie Mae President and Chief Executive Daniel Mudd got compensation valued by the company at $12.2 million, including a $2.2 million bonus...
I wish my business could garner an open line of credit after losing 1/2 it's value and that I still got my 10+ million in compensation
The fleecing of the middle class continues..
I wish my business could garner an open line of credit after losing 1/2 it's value and that I still got my 10+ million in compensation
The fleecing of the middle class continues..
0
Posted:
#28
Quote Originally Posted by be easy:
I still don't get why Bush did a 180 on this? KOAJ, any news on that rider about tracking plastic transactions?
it passed. i got a notice from paypal a week or two ago
i dont know why he signed it either
the big big big big big big big problem is if fannie/freddie gets socialized and their debt goes on the us balance sheet. its always been an implict govt backing, but if it turns explicit then we're fucked
as of now our gdp is greater than our debt...if fannie/freddie gets socialized then our debt will be greater
our AAA credit rating will get reduced and interest rates will go to 12% overnight. we have no more money as it is...no more stimulus packages (a joke), so like the Germans post WWI, the only way to get out of this is....
...the fed prints 300b to cover these assholes who are in homes they shouldnt be as well as brokers/banks who lent them the money...so we have long term inflation and further reduction in the value of a dollar
0
Posted:
#29
Quote Originally Posted by 69_Amazin_Mets:
VOTE FOR CHANGE
VOTE FOR CHANGEGOP FOR SENATE
GOP FOR HOUSE OF REPRESENTATIVES
And how'd that work out from 2000-2006 when the GOP held all three branches of govt?.. NO BALANCED BUDGET, FEDERAL DEBT OVER 7 TRILLION, CIVIL LIBERTIES GONE.. How can you say something so asinine? Vote for Change
Un-Fucking believable.. Man... after what's happened in this country over the past 7 years I still don't know how people can continue to support this imperial regime. You really need to wake up and watch something other than fox news..
Bottom line here is it is broken, probably beyond repair and it doesn't really matter who is in office anymore, special interests OWN the Federal Govt... This is what happens when you let a bunch of greedy attorneys run government.
0
Posted:
#30
Quote Originally Posted by 69_Amazin_Mets:
In fairness to his administration, Not everyone is incompetent
He, and his policies have kept America safe and free of attacks, for almost 7 years now.
At what cost?
It was their incompetencies which led, or failed to prevent, the attacks on 9/11 in the first place.. Wake up already.
0
Posted:
#31
wasa you are trying to have an intelligent conversation with a guy
in mets who hates our military either because they are sissies and
simply are there to collect their money or because once again his
racist views come across with the makeup of our military or it
could be both reasons
Troops donate more campaign money to Obama than McCain, despite McCain's military record
| 69_Amazin_Mets | View Space | Blog | Friends | Playbook |
All-Star
Joined: Mar 2007
Posts: 13476
Location: Maryland |
Posted: 8/15/2008 12:41:10 AM Not surprising, with the make-up of today's military, and the desire by many to "collect a paycheck, without having to fight " Obama is their perfect candidate.Neville Chamberlain Hussein Obama |
0
Posted:
#34
Quote Originally Posted by be easy:
.I could care less who gets elected president. I'd like to vote for a new government
I would vote right along side of you. Our forefathers (and mothers) who helped make what was once a great country must be rolling over in their graves. I would also be willing to bet that they would be gathering arms for another revolution as that seems to be about the only way to win back our country.
0
Posted:
#36
Quote Originally Posted by KOAJ:
sky - i like him a lot. he's one of the very few of the 535 currently ass raping the 300 million that understands the economy
some of his ideas may be a bit out there but revolutions aren't made for the cookie cutter
read his book if you havent yet
sky - i like him a lot. he's one of the very few of the 535 currently ass raping the 300 million that understands the economy
some of his ideas may be a bit out there but revolutions aren't made for the cookie cutter
read his book if you havent yet
Right there with ya KOAJ.
0
Posted:
#37
[Quote: Originally Posted by KOAJ] sky - i like him a lot. he's one of the very few of the 535 currently ass raping the 300 million that understands the economy
some of his ideas may be a bit out there but revolutions aren't made for the cookie cutter
read his book if you havent yet
some of his ideas may be a bit out there but revolutions aren't made for the cookie cutter
read his book if you havent yet
[/Quote)
KOAJ,
I haven't read his book but I have listened to him alot and yes some of his ideas aren't what we are used to hearing but I think he was our best shot at getting this country where it should be. I guess that is why both parties are afraid of him. I am constantly amazed at the number of people who haven't even heard of him but it is nice knowing someone else out there thinks like I do. (at least as far as Ron Paul is concerned. 
)
0
Posted:
#38
PJ - do you like haiku?
-------------------
bankers lent millions
to people with bad credit
uh oh, cant repay
never read loan docs
blame greedy wall street lenders
cry to congressman
-----------------
to save the US economy from system failure, the FOMC and idiots on capital hill have decided to write fannie mae and freddie max a blank check for $300b to help people refinance to affordable mortgage terms
the $300b comes from thin air....thats a problem
skydragon - get the book...a quick read and well worth it
-------------------
bankers lent millions
to people with bad credit
uh oh, cant repay
never read loan docs
blame greedy wall street lenders
cry to congressman
-----------------
to save the US economy from system failure, the FOMC and idiots on capital hill have decided to write fannie mae and freddie max a blank check for $300b to help people refinance to affordable mortgage terms
the $300b comes from thin air....thats a problem
skydragon - get the book...a quick read and well worth it
0
Posted:
#39
koaj just curious who is at fault in your mind for lending people
with bad credit or people who had zero hope of keeping up
with the mortgage?
and in the end the people who never should of been given the
loans to begin with our now scrambling to find somewhere to
live and the ones who never should of lent them the money to
begin with is getting bailed out by the government
dont know about you but if i lend money to a friend or family
member and know for almost certain there is no hope of
this ever being paid back then i have no one to blame or ask
to bail me out
free enterprise system?
0
Posted:
#40
obama lover - when the price of an asset keeps rising, there is zero fear of repayment because the asset can always be resold on the open market for higher value guaranteeing repayment
at some point, the fear of not being repaid outweighs the risk premium attached to any loan
who is too blame? greenspan, fomc, mortgage brokers, bankers for creating cdo's, swaps, etc and most of all the borrowers because without them signing on the dotted line, none of this happens
the only firm that's gotten bailed out is bear stearns...that was not a bailout...more of a forced takeover. JPM owns them, not the government. bsc is an enormous counterparty on the street and if they failed, then we see dow/s&p down 30% overnight. banks are up shits creek as much as homeowners
i used lightbulbs just like you...trying to stress the important parts of explaining our current mess
at some point, the fear of not being repaid outweighs the risk premium attached to any loan
who is too blame? greenspan, fomc, mortgage brokers, bankers for creating cdo's, swaps, etc and most of all the borrowers because without them signing on the dotted line, none of this happens
the only firm that's gotten bailed out is bear stearns...that was not a bailout...more of a forced takeover. JPM owns them, not the government. bsc is an enormous counterparty on the street and if they failed, then we see dow/s&p down 30% overnight. banks are up shits creek as much as homeowners
i used lightbulbs just like you...trying to stress the important parts of explaining our current mess
0
Posted:
#41
Quote Originally Posted by KOAJ:
PJ - do you like haiku?
-------------------
bankers lent millions
to people with bad credit
uh oh, cant repay
never read loan docs
blame greedy wall street lenders
cry to congressman
-----------------
to save the US economy from system failure, the FOMC and idiots on capital hill have decided to write fannie mae and freddie max a blank check for $300b to help people refinance to affordable mortgage terms
the $300b comes from thin air....thats a problem
skydragon - get the book...a quick read and well worth it
PJ - do you like haiku?
-------------------
bankers lent millions
to people with bad credit
uh oh, cant repay
never read loan docs
blame greedy wall street lenders
cry to congressman
-----------------
to save the US economy from system failure, the FOMC and idiots on capital hill have decided to write fannie mae and freddie max a blank check for $300b to help people refinance to affordable mortgage terms
the $300b comes from thin air....thats a problem
skydragon - get the book...a quick read and well worth it
Thanks.
0
Posted:
#42
Quote Originally Posted by KOAJ:
obama lover - when the price of an asset keeps rising, there is zero fear of repayment because the asset can always be resold on the open market for higher value guaranteeing repayment
at some point, the fear of not being repaid outweighs the risk premium attached to any loan
who is too blame? greenspan, fomc, mortgage brokers, bankers for creating cdo's, swaps, etc and most of all the borrowers because without them signing on the dotted line, none of this happens
the only firm that's gotten bailed out is bear stearns...that was not a bailout...more of a forced takeover. JPM owns them, not the government. bsc is an enormous counterparty on the street and if they failed, then we see dow/s&p down 30% overnight. banks are up shits creek as much as homeowners
i used lightbulbs just like you...trying to stress the important parts of explaining our current mess
obama lover - when the price of an asset keeps rising, there is zero fear of repayment because the asset can always be resold on the open market for higher value guaranteeing repayment
at some point, the fear of not being repaid outweighs the risk premium attached to any loan
who is too blame? greenspan, fomc, mortgage brokers, bankers for creating cdo's, swaps, etc and most of all the borrowers because without them signing on the dotted line, none of this happens
the only firm that's gotten bailed out is bear stearns...that was not a bailout...more of a forced takeover. JPM owns them, not the government. bsc is an enormous counterparty on the street and if they failed, then we see dow/s&p down 30% overnight. banks are up shits creek as much as homeowners
i used lightbulbs just like you...trying to stress the important parts of explaining our current mess
obama lover
i see why you have no problem with mets because you are
just like him- who cares about actual facts lets just get down
in the dirt- no wonder you act like that rightwing loon when asked
a question that doesnt fit your little agenda- i guess your feeling
is the same as mets in regards to our military- good to know
i would expect better of a mod
only one that has got bailed out- really lets see what happens
in the next little while shall we- then come back and tell us all
how we live in a free market system
once again the one to blame is the person who lends this money
to people who cant pay
i lend money to somebody hoping that marketforces will allow me
to get my money back and am not lending this money who can
afford it then it is my fault for being a moron for lending it to them
to begin with because like with everything else in the market the
market can change in a heartbeat
0
Posted:
#43
do you have any idea how this mortgage market works or worked for the last few years or do you just blame greedy wall street
-mortgage broker loans money to 15 people to buy a residence
-broker gets his commission
-branch packages loans into a cdo (collateralized debt obligation) and lumps in some prime and alt-a loans and sells them to bankers for a small commission
-moody's or S&P rates the CDOs as AAA so now the bankers can sell them to pensions or money managers as investment grade debt instruments. bankers get a small commission
someone is left holding the bag when the shit hits the fan...should it be the lender, underwriter, money manager, banker, borrower, broker?
without the borrower signing...none of this happens
-mortgage broker loans money to 15 people to buy a residence
-broker gets his commission
-branch packages loans into a cdo (collateralized debt obligation) and lumps in some prime and alt-a loans and sells them to bankers for a small commission
-moody's or S&P rates the CDOs as AAA so now the bankers can sell them to pensions or money managers as investment grade debt instruments. bankers get a small commission
someone is left holding the bag when the shit hits the fan...should it be the lender, underwriter, money manager, banker, borrower, broker?
without the borrower signing...none of this happens
0
Posted:
#44
koaj you claimed they lent money to people who had bad credit so
if you are dumb enough to lend money to people who have already
shown not to be able to pay for a credit card what makes you
believe they will be able to pay for a mortgage?
dont know about you but if i know somebody cannot pay me back
i wont be lending them that money- do believe that is common
sense would you not? and if i have to hope for the marketplace
to be a secondary way of collecting my money from somebody
who has already shown not able to pay their bills then i dont feel
very sorry for their stupidity
by the way i do believe the one who signed the paper is pretty
much screwed right to begin with they are homeless
0
Posted:
#45
koaj you claimed they lent money to people who had bad credit so
if you are dumb enough to lend money to people who have already
shown not to be able to pay for a credit card what makes you
believe they will be able to pay for a mortgage?
------
please read a few posts above
there was ZERO RISK in lending money for anyone for a mortgage from 02 to 06...everything went up and the lender rarely held the mortgage
no one ever worried about risk of repayment since the mortgages were lumped with other mortgages into CDOs and out the door within a week with a big fat AAA rating attached to it courtesy of the house of cards builders themselves, the ratings agencies (moodys and s&p)
maybe asloper will explain more...i think he does or did mortgages
------
please read a few posts above
there was ZERO RISK in lending money for anyone for a mortgage from 02 to 06...everything went up and the lender rarely held the mortgage
no one ever worried about risk of repayment since the mortgages were lumped with other mortgages into CDOs and out the door within a week with a big fat AAA rating attached to it courtesy of the house of cards builders themselves, the ratings agencies (moodys and s&p)
maybe asloper will explain more...i think he does or did mortgages
0
Posted:
#46
Quote Originally Posted by KOAJ:
obama lover - when the price of an asset keeps rising, there is zero fear of repayment because the asset can always be resold on the open market for higher value guaranteeing repayment
at some point, the fear of not being repaid outweighs the risk premium attached to any loan
who is too blame? greenspan, fomc, mortgage brokers, bankers for creating cdo's, swaps, etc and most of all the borrowers because without them signing on the dotted line, none of this happens
the only firm that's gotten bailed out is bear stearns...that was not a bailout...more of a forced takeover. JPM owns them, not the government. bsc is an enormous counterparty on the street and if they failed, then we see dow/s&p down 30% overnight. banks are up shits creek as much as homeowners
i used lightbulbs just like you...trying to stress the important parts of explaining our current mess
obama lover - when the price of an asset keeps rising, there is zero fear of repayment because the asset can always be resold on the open market for higher value guaranteeing repayment
at some point, the fear of not being repaid outweighs the risk premium attached to any loan
who is too blame? greenspan, fomc, mortgage brokers, bankers for creating cdo's, swaps, etc and most of all the borrowers because without them signing on the dotted line, none of this happens
the only firm that's gotten bailed out is bear stearns...that was not a bailout...more of a forced takeover. JPM owns them, not the government. bsc is an enormous counterparty on the street and if they failed, then we see dow/s&p down 30% overnight. banks are up shits creek as much as homeowners
i used lightbulbs just like you...trying to stress the important parts of explaining our current mess
0
Posted:
#47
Quote Originally Posted by KOAJ:
PJ - do you like haiku?
-------------------
bankers lent millions
to people with bad credit
uh oh, cant repay
never read loan docs
blame greedy wall street lenders
cry to congressman
-----------------
to save the US economy from system failure, the FOMC and idiots on capital hill have decided to write fannie mae and freddie max a blank check for $300b to help people refinance to affordable mortgage terms
the $300b comes from thin air....thats a problem
skydragon - get the book...a quick read and well worth it
PJ - do you like haiku?
-------------------
bankers lent millions
to people with bad credit
uh oh, cant repay
never read loan docs
blame greedy wall street lenders
cry to congressman
-----------------
to save the US economy from system failure, the FOMC and idiots on capital hill have decided to write fannie mae and freddie max a blank check for $300b to help people refinance to affordable mortgage terms
the $300b comes from thin air....thats a problem
skydragon - get the book...a quick read and well worth it
KOAJ,
I will do that. Thanks.
0
Posted:
#48
Quote Originally Posted by KOAJ:
here's a rider i dont know if any of you saw which was attached to the bill...thanks Chris Dodd for the rider. and a special thanks to Bank of America for writing most of this bill to save their asses from the Countrywide pending implosion
accept cash via paypal for ebay auctions? they now know it or will know it soon
link
here's a rider i dont know if any of you saw which was attached to the bill...thanks Chris Dodd for the rider. and a special thanks to Bank of America for writing most of this bill to save their asses from the Countrywide pending implosion
Revenue Provisionsin english...the government will now be able to track any and all plastic transactions made by you to ensure you are paying your fair share to the government in terms of tax revenuesPayment Card and Third Party Network Information Reporting.
The proposal requires information reporting on payment card and third party network transactions. Payment settlement entities, including merchant acquiring banks and third party settlement organizations, or third party payment facilitators acting on their behalf, will be required to report the annual gross amount of reportable transactions to the IRS and to the participating payee. Reportable transactions include any payment card transaction and any third party network transaction. Participating payees include persons who accept a payment card as payment and third party networks who accept payment from a third party settlement organization in settlement of transactions. A payment card means any card issued pursuant to an agreement or arrangement which provides for standards and mechanisms for settling the transactions. Use of an account number or other indicia associated with a payment card will be treated in the same manner as a payment card. A de minimis exception for transactions of $10,000 or less and 200 transactions or less applies to payments by third party settlement organizations. The proposal applies to returns for calendar years beginning after December 31, 2010. Back-up withholding provisions apply to amounts paid after December 31, 2011. This proposal is estimated to raise $9.802 billion over ten years.
accept cash via paypal for ebay auctions? they now know it or will know it soon
link
just like i kep saying, the govt little by little will know everywhere you are 24/7/365 and they will know everything you do. All these little added bills are just another way of making sure the govt controls all of us. People dont want to admit it, but our countries freedoms are going backwards bigtime.
0
Posted:
#49
Quote Originally Posted by KOAJ:
do you have any idea how this mortgage market works or worked for the last few years or do you just blame greedy wall street
-mortgage broker loans money to 15 people to buy a residence
-broker gets his commission
-branch packages loans into a cdo (collateralized debt obligation) and lumps in some prime and alt-a loans and sells them to bankers for a small commission
-moody's or S&P rates the CDOs as AAA so now the bankers can sell them to pensions or money managers as investment grade debt instruments. bankers get a small commission
someone is left holding the bag when the shit hits the fan...should it be the lender, underwriter, money manager, banker, borrower, broker?
without the borrower signing...none of this happens
do you have any idea how this mortgage market works or worked for the last few years or do you just blame greedy wall street
-mortgage broker loans money to 15 people to buy a residence
-broker gets his commission
-branch packages loans into a cdo (collateralized debt obligation) and lumps in some prime and alt-a loans and sells them to bankers for a small commission
-moody's or S&P rates the CDOs as AAA so now the bankers can sell them to pensions or money managers as investment grade debt instruments. bankers get a small commission
someone is left holding the bag when the shit hits the fan...should it be the lender, underwriter, money manager, banker, borrower, broker?
without the borrower signing...none of this happens
C'mon KOAJ.. you don't really believe that it's entirely the fault of the borrower do you? I could say the same thing about the lender or the mortgage broker who fudged numbers on the no qual loan sold to the borrower.. if they didn't lend the money none of this would've happened..
All parties involved need to accept some responsibility. Lenders, banks, mortgage brokers, Wall Street, saw huuuuge dollar signs in these highly speculative, sub-prime loans. They preyed and capitalized on a sector of the market who felt like if they didn't buy now, they'd never be able to afford to own their own home. Buyers, especially those who got themselves into var loans, and knew damn well that there was a chance they'd get stuck in an unaffordable loan. Especially those who pulled their new found equity out only to wind up upside down....
You can't deny that the greed of lenders and buyers are to blame equally for this mess and for anyone in the financial arena to say there was ZERO RISK is plain silly.. Hell, I'm definitely not the sharpest financial mind and even I saw the writing on the wall..
0
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