I must have ESP worth 700billion Reply #15 – September 30, 2008, 01:24:04 PM Quote from: Cougar5.0;237805Huh? I saw all the ads and to "make it viral" - it's clearly a right-wing troll hit piece that only a right-wing troll would watch and promote.ROFL, calling me a "right-wing troll," that is HILARIOUS.Lets see, a 10 minute video with provided sources (and even providing google searches for you to try yourself) or a stupid talk show with "supposed" people that "know" what they're talking about, and YOURE the one calling ME a troll? That's a good one.If seeing things for what they are makes me a right-wing troll, I guess I can't argue. Quote Selected
I must have ESP worth 700billion Reply #16 – September 30, 2008, 01:26:11 PM You are a right-wing troll if you think that was a fair representation of both sides.If you listened to the show, you would know that they were the people that WROTE the bad paper!! OMG!! You're just not going to listen to facts.The Republicans were in control for most of the time this was spiraling out of control.Come on you wussie cowards!! Take responsibility for something!! Quote Selected
I must have ESP worth 700billion Reply #17 – September 30, 2008, 01:28:21 PM Keep it civil...Only warning. Quote Selected
I must have ESP worth 700billion Reply #18 – September 30, 2008, 01:30:28 PM Seems more like to me that the Democrats like to screw with the Republicans. I remember when everyone was blaming Bush for moving jobs overseas, when it was really Clinton that signed the bill that put it all in action. And like now, the Bush administration tried twice to put through a bill for tighter restrictions, Mccain warned of disaster, so yeah, it's all their fault.I'm 100% sure that both sides (Dems and Repubs) have done plenty of things wrong to cause this, but at least ONE of them tried to fix it (and Fannie Mae sure...uh...cuddled up to the people who didnt). Quote Selected
I must have ESP worth 700billion Reply #19 – September 30, 2008, 01:36:28 PM Fannie - the one paying McCain's chief of staff for access?Yes, plenty of blame to go around. I just wish the R's could take responsibilty and stop trying to blame other people - this happened while they were in control of all the entire government. Quote Selected
I must have ESP worth 700billion Reply #20 – September 30, 2008, 01:54:36 PM There are certain things that should be common sense...1. Don't forget to use toilet paper.2. Don't eat glass.3. Don't run cheap Chinese intakes.4. Don't buy something from a certain banned forum member.5. Don't lend money to people who can't pay it back.DUH!I can't speak for AIG, but speaking strictly in terms of Fannie and Freddie, I think we'd be better off if they were forced to file Chapter 11 and sell off their mortgage securities. They were forced to make bad loans and it needs to be burned into the brain of every living man, woman, and child that that's bad policy. Spare me the "who was in control" argument. Several attempts were made to fix the problem starting in 2005 and they were opposed by both the corrupt and the stupid. At this point I think we're better off letting Fannie and Freddie divest as an object lesson. And yes, I've lost money too -- my Wachovia stock is worthless now. Thankfully it was only a small part of my assets -- diversify, people, diversify. I knew that when I was a teenager. Quote Selected
I must have ESP worth 700billion Reply #21 – September 30, 2008, 02:00:18 PM I was raised in a very liberal state (Vermont) and even I know it's going to be difficult for either side democrat or republican to change the stranglehold the media and large corporations have on the government. As an amature investor in the stock market I have recently become more interested in this sort of thing. Being a military man I do like what the republicans do for my paycheck but not much else. The majority of this financial crisis is President Bush's fault (sorry kingcars) but it's not like the democrats helped like they said they would when they took over congress.Right now I am leaning toward Obama. I like what he had to say in the debate and I like his tax plan. I like Mccain's experience for overseas matters but enough of that! We need to focus on digging the middle class out of debt and getting them some good heathcare options.It's going to be a rough ride but we will pull through it. We always do! Just keep taking care of each other. Quote Selected
Uggh! Reply #22 – September 30, 2008, 02:19:42 PM QuoteUnknown terrain for economyBy Robert Gavin and Casey Ross, Globe Staff | September 30, 2008In an example of how fragile credit markets have become, the state of Massachusetts yesterday tried to borrow $400 million to make its routine quarterly local aid payments to cities and towns. State treasury officials said the credit markets abruptly froze midday, leaving them $170 million short. The state will have to use its own funds to complete the local aid payments, draining the state's balance to extremely low levels."I don't think any treasurer alive could say they've ever seen anything like this," said Timothy P. Cahill, the state's treasurer. "There have always been cash shortages, but you could always go to the market and get more. This is the first time we haven't been able to do that."Cahill said he believes the credit market will in effect remain shuttered today as the nation's largest lenders hold on to their cash amid uncertainty over plans for a federal bailout. In short, the House's rejection of a $700 billion Wall Street bailout plan takes Massachusetts and the rest of the US economy into territory that few policy makers and buttstuffysts wanted to explore...."This puts the onus on the Fed," Bethune said. "The game isn't over, but it's halftime and we're down three touchdowns."I'm FAR from an alarmist, but this has me just a tad nervous!:flame: Quote Selected
I must have ESP worth 700billion Reply #23 – September 30, 2008, 02:21:44 PM QuoteDon't lend money to people who can't pay it back.BINGO. The greed of lenders is the major cause of what's happening now. They knew they were selling SOME bad loans with the hopes that the borrowers would be penalized or default.OTOH, the average American consumer is an idiot today. Just because a bank or mortgage company or credit card company said you COULD take out a ton of money, doesn't mean that you SHOULD. If you're not in control of your finances and you trust that a large corporation is going to babysit you...then the bottom falls out...you've got nobody to blame but that person in the mirror.Then again...the government, which theoretically should be FOR the people, hasn't done a ed thing to help people in the last 7 years. Only now, when the fire is held to their feet, do they attempt to resolve something, and obviously they can't even get that right. Even if the resolution was halfway decent it would be too little, too late.So I see a three-way split for the blame. You can blame anyone you want, but these are the facts. Everyone got bit on their backsides this time.Now...being one of the 14 out of 15 mortgage holders that actually do pay on time, within my budget, and with excellent credit...I'd love to know how the government intends to lighten the burden on what's left of the middle class once this "correction" in the markets is over with. Where is our special break? You can do it for the poor, the bankrupt, and the foreclosed. So what about the upstanding citizens? We've been keeping this country going, ON OUR OWN, for the better part of a decade. We deserve something from all this.Oh yeah...we have to rebuild a foreign country first. That's priority, I forgot. Quote Selected
I must have ESP worth 700billion Reply #24 – September 30, 2008, 02:26:37 PM Love the small print Eric - lol! I am with you - been paying my mortgage on time for 19 years already - even when my loan was worth 1.5 times what my house was worth!!! You didn't hear me complaining.My fear is that I'm gonna get laid off and I'll be another defaulted mortgage - but as a result of other people's incompetance!!!BTW, if you have some time, listen to the radio show I linked to above - THEY GAVE LOANS TO DEAD PEOPLE!!!!!!!! :hick:Now THAT's predatory lending. :) Quote Selected
Uggh! Reply #25 – September 30, 2008, 02:34:08 PM QuoteUnknown terrain for economyBy Robert Gavin and Casey Ross, Globe Staff | September 30, 2008In an example of how fragile credit markets have become, the state of Massachusetts yesterday tried to borrow $400 million to make its routine quarterly local aid payments to cities and towns. State treasury officials said the credit markets abruptly froze midday, leaving them $170 million short. The state will have to use its own funds to complete the local aid payments, draining the state's balance to extremely low levels."I don't think any treasurer alive could say they've ever seen anything like this," said Timothy P. Cahill, the state's treasurer. "There have always been cash shortages, but you could always go to the market and get more. This is the first time we haven't been able to do that."Cahill said he believes the credit market will in effect remain shuttered today as the nation's largest lenders hold on to their cash amid uncertainty over plans for a federal bailout. In short, the House's rejection of a $700 billion Wall Street bailout plan takes Massachusetts and the rest of the US economy into territory that few policy makers and buttstuffysts wanted to explore."This puts the onus on the Fed," Bethune said. "The game isn't over, but it's halftime and we're down three touchdowns."Holy ! Quote Selected
I must have ESP worth 700billion Reply #26 – September 30, 2008, 05:22:39 PM Quote from: EricCoolCats;237819BINGO. The greed of lenders is the major cause of what's happening now. They knew they were selling SOME bad loans with the hopes that the borrowers would be penalized or default.OTOH, the average American consumer is an idiot today. Just because a bank or mortgage company or credit card company said you COULD take out a ton of money, doesn't mean that you SHOULD. If you're not in control of your finances and you trust that a large corporation is going to babysit you...then the bottom falls out...you've got nobody to blame but that person in the mirror.And that is it in a nut shell... I always thought the idea on a home loan was to pay it down, not refinance and piss away the equity every time the value increased... This is what many have done, including a few people I know...I took a 15 year loan on this place and paid it off in less than 10... Could buy four or five moderately priced new cars with the limit on the credit cards, what do I owe??? Maybe $500... Quote Selected
I must have ESP worth 700billion Reply #27 – September 30, 2008, 06:46:13 PM I think it's about time to use Fort Knox :hick: Quote Selected
I must have ESP worth 700billion Reply #28 – September 30, 2008, 07:32:10 PM The ceo's that booked with millions. Should be held for treason.For bringing this great country to do whats happening now.Now us poor slobs the middle class got to bail them out again. Quote Selected
I must have ESP worth 700billion Reply #29 – September 30, 2008, 11:52:54 PM Quote from: Cougar5.0;237823In an example of how fragile credit markets have become, the state of Massachusetts yesterday tried to borrow $400 million to make its routine quarterly local aid payments to cities and towns. State treasury officials said the credit markets abruptly froze midday, leaving them $170 million short. The state will have to use its own funds to complete the local aid payments, draining the state's balance to extremely low levels.Holy !WHAT? and this is fuel to pass WHAT AGAIN? TOM, this is the train of thought i am talking about. This is bassAkwards and a stupid way to run a state.Since the state runs up a debt of credit on services it cant afford, I suppose the rest of the random idiots can do it to. The very idea of a state borrowing money on an """AID""" program stinks cause its probably money for conflicting programs most of us complain about or worse of all, shaddy transactions polutted with pork and skimming off the top.I am pretty sure if you go back in time, this so called "AID" program was passed with the fuel of an additional TAX people. Wonder where that tax went to.Now,, the state starts a boo hoo match cause they have to ,,hoot hoot,, boo hoo,, "we gotta spend our own money on this,,boo hoo"This is not logical,, and i suppose its a direct quote from an accounting PHD dumb ass.I am happy to report though that the even with the unforseen market recoverey negating dooms day, the majority of america have the same gut feeling i do. repbulican party- I could care lessDem's- I could care less.Im neither, I am equipped with open ears to hear a plan, and a gut feeling of who is best ,,,, so far no go from both idiots corners.All you have to remember is that everytime you tell your children to save up for something, dont get pissed when the dont. this line of thinking will insure the bill gets passed and we can all be a bunch of little children who need constant supervision from our goverment and they will put us in time out while they go cash thier checks.TomOne thing that concerns me is that you want the bill to pass, this has me wondering why because i could sure use some positive information to work with.I do stay in touch with the news from radio to TV / papers and usa today, Im just like the majority of americal who smell a deal that is Top down,, not bottom up. The concept of a credit freeze is likely going to bypass the average guy and even the small buisness. The credit freeze would likly hit the ones who borrow millions of dollars with Net 90day plus on payment schedules. Quote Selected
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