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  • #283,381
  • Aug 18, 2010 6:09pm Aug 18, 2010 6:09pm
Quoting gatorinla
damn red line
http://ecx.images-amazon.com/images/I/31ZisSEAd9L.jpg
  • #283,382
  • Aug 18, 2010 6:14pm Aug 18, 2010 6:14pm
Quoting Kc-fx
Bush wasn't the only one that did damage to this country you can thank Clinton for relaxing the housing regulations that caused the housing bubble and this great recession and Bush for not doing anything about it. If you ask me its the last 20 years of politics that have destroyed this country. I know a lot of you take sides republican or democrat but the truth is its all of them that messed this county up...............
lets just make money and trade Forex guys.
  • #283,383
  • Aug 18, 2010 6:22pm Aug 18, 2010 6:22pm
Quoting Kc-fx
Bush wasn't the only one that did damage to this country you can thank Clinton for relaxing the housing regulations that caused the housing bubble and this great recession and Bush for not doing anything about it. If you ask me its the last 20 years of politics that have destroyed this country. I know a lot of you take sides republican or democrat but the truth is its all of them that messed this county up...............
there would be a lot more informed people if there was a lot more people not listening to bs from media. only one of the 2 you mention had a state of the union address bragging on minority home ownership. and also bragged on % of home ownership being the highest in history. but you have to find your own answer. im nuetral but will try to keep the facts factual
those who can, do. those who cant, talk about those who can
  • #283,384
  • Aug 18, 2010 6:25pm Aug 18, 2010 6:25pm
Quoting Kc-fx
Bush wasn't the only one that did damage to this country you can thank Clinton for relaxing the housing regulations that caused the housing bubble and this great recession and Bush for not doing anything about it. If you ask me its the last 20 years of politics that have destroyed this country. I know a lot of you take sides republican or democrat but the truth is its all of them that messed this county up...............
You are right, but Obama will make sure the republic is destroyed beyond repair.
  • #283,385
  • Aug 18, 2010 6:29pm Aug 18, 2010 6:29pm
Quoting mirzyk
You are right, but Obama will make sure the republic is destroyed beyond repair.
yea cause he actually has a say in things........
  • #283,386
  • Aug 18, 2010 6:40pm Aug 18, 2010 6:40pm
Quoting gatorinla
there would be a lot more informed people if there was a lot more people not listening to bs from media. only one of the 2 you mention had a state of the union address bragging on minority home ownership. and also bragged on % of home ownership being the highest in history. but you have to find your own answer. im nuetral but will try to keep the facts factual
still of what he said all but the part about Clinton personally easing housing regulations is true..if not, Bush haters really are another breed...to honestly believe he is the ONLY or MOST DESTRUCTIVE American in history..a stretch to say the least.
  • #283,387
  • Aug 18, 2010 6:41pm Aug 18, 2010 6:41pm
Perhaps politicians could learn something from Gator: remain neutral and keep the facts factual. Most logical approach.
  • #283,388
  • Aug 18, 2010 6:49pm Aug 18, 2010 6:49pm
Quoting uraceulose
still of what he said all but the part about Clinton personally easing housing regulations is true..if not, Bush haters really are another breed...to honestly believe he is the ONLY or MOST DESTRUCTIVE American in history..a stretch to say the least.
here is what caused you banking crises. http://www.sec.gov/news/openmeetings/agenda042804.htm
it was the second banking crises (the other early 90ties).. actually there was another. but it was stopped when all the banks put up a few billion for bailout. anyway the sec meeting let investment banks have unlimited leverage. this is what caused the system to fail.. limited leverage to unlimited leverage, unbiased government sight
those who can, do. those who cant, talk about those who can
  • #283,389
  • Aug 18, 2010 6:52pm Aug 18, 2010 6:52pm
Quoting gatorinla
here is what caused you banking crises. http://www.sec.gov/news/openmeetings/agenda042804.htm
it was the second banking crises (the other early 90ties).. actually there was another. but it was stopped when all the banks put up a few billion for bailout. anyway the sec meeting let investment banks have unlimited leverage. this is what caused the system to fail.. limited leverage to unlimited leverage
i haven't read the whole link but i will. there was more to the housing crisis though i'm sure...congress keeping fannie and freddie and every other bank on the planet lending til the nth degree with no reserve what so ever along with no one ever taking into account the fact that the housing prices MIGHT actually DROP. this was Bush, and every one on his crew, Obama and every sitting congressman
  • #283,390
  • Aug 18, 2010 7:10pm Aug 18, 2010 7:10pm
Quoting uraceulose
i haven't read the whole link but i will. there was more to the housing crisis though i'm sure...congress keeping fannie and freddie and every other bank on the planet lending til the nth degree with no reserve what so ever along with no one ever taking into account the fact that the housing prices MIGHT actually DROP. this was Bush, and every one on his crew, Obama and every sitting congressman
not exactly true. the private sector started this. the rest is smoke and mirrors since freddie and fannie buy in the secondary market. they were forced to buy crap. because originators would loan to anyone knowing the loan would be sold..
those who can, do. those who cant, talk about those who can
  • #283,391
  • Aug 18, 2010 7:12pm Aug 18, 2010 7:12pm
Quoting gatorinla
not exactly true. the private sector started this. the rest is smoke and mirrors since freddie and fannie buy in the secondary market. they were forced to buy crap. because originators would loan to anyone knowing the loan would be sold..
who were they forced by? the private sector had the idea but we come up with all kinds of crazy money making schemes...with all the regulating committiees and all the stuff, they didn't stop this..instead they forced them to keep lending/buying..
  • #283,392
  • Aug 18, 2010 7:34pm Aug 18, 2010 7:34pm
Quoting uraceulose
who were they forced by? the private sector had the idea but we come up with all kinds of crazy money making schemes...with all the regulating committiees and all the stuff, they didn't stop this..instead they forced them to keep lending/buying..
its what they did, it was their job. the system worked well until private sector originators not holding the loans sold them to investment houses bundling them up and selling them others w/o scrutinizing buyers. . before the crises the rules were changed by congress. so at that point, Freddie/Fannie didn't have to buy all the crap. so the loans just before the crises the people actually put (good loans) 20% down etc. but this rule change in congress didn't happen until the last 2 years of gb administration. just a fact that you don't hear much about. he who talks loudest gets repeated the most.

the sec rule is what allowed the bs in the private sector to start the ball rolling. Before this originators kept the loans or sold most to Fannie or Freddie.

if you want the truth dont listen to Keith O or Fox, Rush etc. they are entertainers. Go to a unbiased place like Mclear report or something. Its boring but less biased
those who can, do. those who cant, talk about those who can
  • #283,393
  • Aug 18, 2010 7:38pm Aug 18, 2010 7:38pm
I am thinking the austerity measures in EZ starting inSeptember will place incredibly difficult demands some of the PIIGS may not be able to withstand. I feel bad for the people. I think the stress on the Euro will cause it to dive regardless of USD weakness. IMO Greece would be wise to bail from EU.
  • #283,394
  • Aug 18, 2010 7:42pm Aug 18, 2010 7:42pm
Quoting uraceulose
who were they forced by? the private sector had the idea but we come up with all kinds of crazy money making schemes...with all the regulating committiees and all the stuff, they didn't stop this..instead they forced them to keep lending/buying..
Right...the political forces in power at the time were under pressure to bump up the number of minorities who owned homes, no matter what. They in turn put pressure on the lenders (freddie/fannie) to loan to just about anyone with a pulse, even if the loan was above their means to repay. The american public was also at fault, because of their entitlement complex and general stupidity ('I DESERVE a house, its the american dream! Who cares if I'm living well above my means! Gotta keep up w the Jonses...") , and many of them didnt read the fine print on the ARMs. Although the lenders do share in some of the blame for their deceptive tactics and font size 0.0005 in the fine print...
Throw all that in a bowl, mix in the home-flippers who made hundreds of thousands of dollars because home values would "always increase", and here we are...
...my house used to be worth about 40k more than itis now (at least)...
  • #283,395
  • Aug 18, 2010 7:44pm Aug 18, 2010 7:44pm
Quoting SaviorSix
Right...the political forces in power at the time were under pressure to bump up the number of minorities who owned homes, no matter what. They in turn put pressure on the lenders (freddie/fannie) to loan to just about anyone with a pulse, even if the loan was above their means to repay. The american public was also at fault, because of their entitlement complex and general stupidity ('I DESERVE a house, its the american dream! Who cares if I'm living well above my means! Gotta keep up w the Jonses...") , and many of them didnt read the fine print...
Thanks ACORN, Affirmative Action etc... I remember these groups going into neighborhood banks and boycotting/protesting in a very confrontive/rude way so they could get loans based on entitlements/race. This "forced" these banks to make loans they wouldn't normally make to suffice political/socio-economic pressure despite sound loan practices. The banks that did this are in trouble due to compromise.
  • #283,396
  • Aug 18, 2010 7:52pm Aug 18, 2010 7:52pm
Here comes my view for the traders.
Attached Image (click to enlarge)
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  • #283,397
  • Aug 18, 2010 7:53pm Aug 18, 2010 7:53pm
Quoting gatorinla
its what they did, it was their job. the system worked well until private sector originators...
I haven't seen mclear yet but I will search for it...I do not watch fox, rush, keith, nbc...nada. ever. seriously. i used to until the last couple years of Bush...I was a Fox fan obviously
bloomberg now, charlie rose, rewind, market opens etc...but more just reading.
I really do want the truth, even if it seems like I'm arguing...most here I can learn from.

What i don't understand though is even after the rule...the originators basically kept the loans or sold them to fannie/freddie??
i mean from that link til right before lehman was the entire bubble and explosion?
one of the screamers has always been B Frank...I like his tenacity..morally we probably disagree. he was one of the guys though saying F and F were absolutely fine going forward...oreilly/hannity even Beck back in his CNN or was in NBC days..both sides of the coin is my point
what i'm saying is that i don't think that the congressman/President really knew or know now what exactly changes or happens when they pass a bill..advisors bring in charts and mathematicians to show on double chalk board size equations that CDS's, MBS's, sub prime as a whole all repackaged up how ever they see fit would be fine. no one else can understand the equation on the chalk board but the guy who came up with it is damn smart and the numbers worked out...until the prices dropped.
by the way lol if anyone cares..i am re registering myself as an independant
  • #283,398
  • Aug 18, 2010 7:54pm Aug 18, 2010 7:54pm
Quoting Redeemed1
Thanks ACORN, Affirmative Action etc... I remember these groups going into neighborhood banks and boycotting/protesting in a very confrontive/rude way so they could get loans based on entitlements/race. This "forced" these banks to make loans they wouldn't normally make to suffice political/socio-economic pressure despite sound loan practices. The banks that did this are in trouble due to compromise.
*L* Goldman made acorn loans?
those who can, do. those who cant, talk about those who can
  • #283,399
  • Aug 18, 2010 7:57pm Aug 18, 2010 7:57pm
Quoting gatorinla
*L* Goldman made acorn loans?
Yeah "L"! They are in there somewhere lol.
  • #283,400
  • Aug 18, 2010 7:59pm Aug 18, 2010 7:59pm
Quoting Redeemed1
I am thinking the austerity measures in EZ starting inSeptember will place incredibly difficult demands some of the PIIGS may not be able to withstand. I feel bad for the people. I think the stress on the Euro will cause it to dive regardless of USD weakness. IMO Greece would be wise to bail from EU.
they have no option but to leave euro so that they can print money and devalue their currency, followed by portugal, spain, italy
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