700 Billion Buy out plan defeated.....

[DarkArtist81]

What I find so humorous is that those of us on the right supply links to back up what we are saying, but they get shot down as coming from right wing extremist sites, but the left can scream about how this is all the Republicans fault with nothing to back it up but their own hatred for the party and it's accepted as fact.

Well, as for myself... I have never tried to come and give out any facts. I read what I read and I am not going to waste time looking for it... especially just to rub it in other people's faces.

There is a lot of misinformation out there, on both sides... we all can admit that. I try my best to see through the fog, into the truth. That's all I can do.

But you will never see me posting links and huge cut and paste blocks of "facts" and saying that Conservatives are wrong. It's stupid and a lost cause, really.

I really wish you guys would just chill out, believe what you believe, and stop trying to change the opinions of everyone else... That goes for both sides. People need to take the venom out of their fangs for a moment and realize that NO party is 100% clean and clear of issues. Both have done bad things, made bad decisions, and both have contributed to this situation we are in.

I just get so sick and tired of reading the laundry list of posts with nothing but anger and venomous responses aimed at an entire group. It just further divides us, and causes more anger from the opposing side. Why do things have to be so damn aggressive?

 

[Darth Caedus]

What I find so humorous is that those of us on the right supply links to back up what we are saying, but they get shot down as coming from right wing extremist sites, but the left can scream about how this is all the Republicans fault with nothing to back it up but their own hatred for the party and it's accepted as fact.

That's how the left has always been. When asked to provide facts behind their arguments, they hide behind emotional responses tearing down the rich to bring together the middle-class; knowing that doing this will win their vote. Which to me, is much more pathetic than believing in something and just being wrong.

Take these guys...notice one party affiliation in common with them....

https://www.portfolio.com/news-markets/top-5/2008/06/12/Countrywide-Loan-Scandal

But in general, both the left and the right are both double-talk, two-faced morons who will tell you anything you want to hear in order to get your vote.

 

[Mesa]

Obama and McCain came out in favor of the plan.

It's not necessarily buying "bad" loans. It's buying loans that the banks can't afford to keep on their books. The government has the luxury of allowing them to sit on their books for a year or two and working with the debtors to help actually pay the loans. The banks can't afford to do that if they're to remain viable commercial entities.

A friend of mine was just explaining to me the different rating systems banks get to loan and borrow money. He used laymen terms for me: "A" rating vs. "AA" rating versus "AAA" rating. lower rating you have as a bank (which corresponds to how much cash you have on hand vs how much credit you have lent out), directly affects you rating. If your rating dips below certain limit, and you don't have enough cash in the vault to cover a certain percentage of your extended loans, bad news. Lower your rating gets, more cash you must have on hand (in vault) to cover extended loans.

It's very complicated, and I plan on learning more about it, but sounds like banks "borrowing" rate got reduced as more loans started to default, and they didn't have the required percentage in the vault to cover the extended capital. Then, their borrowing rate got reduced even further, say from AAA to AA, which reguires they have even more percent of original loand value stored away in liquidity inthe vault, and problem just become more exascerbated and trickled UP to the larger banks. At least that how I understand the comlicated details for now.

 

[Darth Caedus]

A friend of mine was just explaining to me the different rating systems banks get to loan and borrow money. He used laymen terms for me: "A" rating vs. "AA" rating versus "AAA" rating. lower rating you have as a bank (which corresponds to how much cash you have on hand vs how much credit you have lent out), directly affects you rating. If your rating dips below certain limit, and you don't have enough cash in the vault to cover a certain percentage of your extended loans, bad news. Lower your rating gets, more cash you must have on hand (in vault) to cover extended loans.

It's very complicated, and I plan on learning more about it, but sounds like banks "borrowing" rate got reduced as more loans started to default, and they didn't have the required percentage in the vault to cover the extended capital. Then, their borrowing rate got reduced even further, say from AAA to AA, which reguires they have even more percent of original loand value stored away in liquidity inthe vault, and problem just become more exascerbated and trickled UP to the larger banks. At least that how I understand the comlicated details for now.

Yea, it's interesting to learn how these businesses and banks do business with each other. Businesses have credit ratings just like people do; the lower the rating, the lower the amount of the revolving line of credit a business can take out.

 

[Mesa]

Well, as for myself... I have never tried to come and give out any facts. I read what I read and I am not going to waste time looking for it... especially just to rub it in other people's faces.

There is a lot of misinformation out there, on both sides... we all can admit that. I try my best to see through the fog, into the truth. That's all I can do.

But you will never see my posting links and huge cut and paste blocks of "facts" and saying that Conservatives are wrong. It's stupid and a lost cause, really.

I really wish you guys would just chill out, believe what you believe, and stop trying to change the opinions of everyone else... That goes for both sides. People need to take the venom out of their fangs for a moment and realize that NO party is 100% clean and clear of issues. Both have done bad things, made bad decisions, and both have contributed to this situation we are in.

I just get so sick and tired of reading the laundry list of posts with nothing but anger and venomous responses aimed at an entire group. It just further divides us, and causes more anger from the opposing side. Why do things have to be so damn aggressive?

It's really not a waste of time Josh. I take it you're talking about me (and a few others), which is cool, I don't mind, but seriously, there is so much information out that that has been hidden from us. I'm not trying to sound like teemu here, but I can't ignore it. Trust me, whether its in the next month or over the next year, or even in the history books, there was A LOT of information hidden from us that will eventually be revealed to the general public. It's all public. Those that could connect the dots were warning congress. Bush is a FRICKIN' idiot for not addressing the public and warning the public about a lack of action by the congress to address a serious problem.

Funny thing is, a month ago I didn't care much about this. But start depleting my eventual retirement account by 10+% and you can be damn sure I'm going to do some research as to the reasons why.

 

[Fubeca]

Not when it comes to Muslims.

I hate Texans!

 

[Fubeca]

Unfortunately sometimes you have to suck it up and problems have to be fixed for the good of all, no matter who caused them. If we don't fix it now - there is nothing left but a death spiral into an economic depression.

It's not like a giveaway of money either - this plan could actually make a profit and result in a kickback to taxpayers.

Come on Dave...A kickback from the Gov? and Sideshow is going to do a Tom Bombadil PF! I can appreciate your Faith however!

 

[Bannister]

I hate Texans!

Like a give a ^^^^ what your Mormon ass thinks(I really do give a ^^^^ and am crushed by this revelation.)

 

[darkknight]

Good News!

 

[Fubeca]

...maybe since dems are so wonderful they should've so we wouldnt be in the mess were in now..keep in mind in 2004 yes 2004 house dems proclaimed nothing was wrong with Frannie & Freddie

https://www.youtube.com/watch?v=_MGT_cSi7Rs

...damn the third speaker is a real cool guy...i wish i could be his friend..haha

BOTH PARTIES ARE TO BLAME!..once again get over it

WOW INCREDIBLE VIDEO. I like Ms. Waters comments about the good stuff coming in 1992! Right when W. was president...wait...he was wasn't he...

 

[Fubeca]

Like a give a ^^^^ what your Mormon ass thinks(I really do give a ^^^^ and am crushed by this revelation.)

Noooooooooooooo I meant the Football Team!!! Banni I secretly love you and want you for another one of my wives!

 

[devilof76]

Here's another good one. From all the way back in 2000.

https://www.city-journal.org/html/10_1_the_trillion_dollar.html

 

[Fubeca]

Obama and McCain came out in favor of the plan.

It's not necessarily buying "bad" loans. It's buying loans that the banks can't afford to keep on their books. The government has the luxury of allowing them to sit on their books for a year or two and working with the debtors to help actually pay the loans. The banks can't afford to do that if they're to remain viable commercial entities.

Yep! McCain and Obama did!

And the banks can't afford those loans because people are not paying them back...ALA BAD LOANS....Agreed not all loans were bad but MOST were, unpaid loans...I'm in the biz I've seen it in its prime to now!!! If you could fog a mirror you could get a loan!

 

[Fubeca]

Here's another good one. From all the way back in 2000.

https://www.city-journal.org/html/10_1_the_trillion_dollar.html

Ah-Ah!!! Right as Bush was taking over...Yup once again it's W. fault!








BTW, I'm pissed at Bush for this whole hair-brained $700 Billion bail-out! Let me say it now! NINTH WORST PRESIDENT EVER!

 

[Fubeca]

BTW anyone have any good articles or videos regarding ACORN?!

 

[Mesa]

BTW anyone have any good articles or videos regarding ACORN?!

Yes.

More truf:

The fairy who will save us all from our woes and economic jitters:

And a happy acorn that reminds me of Mom and Grandma:

This one's kind of phallic:

Edit:

 

[devilof76]

BTW, I'm pissed at Bush for this whole hair-brained $700 Billion bail-out! Let me say it now! NINTH WORST PRESIDENT EVER!

Me too. He had a chance to redeem himself, and he blew it. He could have advocated changing the laws that caused the problems, but he's just not that...sharp.

I think they need to let those failed mortgages go. Foreclose, let the banks file bankruptcy, and allow those left standing to buy them up at firesale prices. I don't think the bailout will do anything but forestall the reckoning that is long overdue, and it will just cost $700 billion more than it already has. Cut losses and abandon this legislation. The industry can fix itself better than these leeches will ever dream and they'll do it without costing the rest of us anything (other than what we'll already be paying in the general economy on account of the failures of all these loans). And for god's sake, get rid of the FM's and the CRA. Do not let one penny of what was sucked up through that racket to remain in the hands of those who profitted from it.

I'll put money on the prediction that a depression is unlikely. I'd be less inclined to believe that, however, if this bill passes.

 

[hoodonit00]

Me too. He had a chance to redeem himself, and he blew it. He could have advocated changing the laws that caused the problems, but he's just not that...sharp.

I think they need to let those failed mortgages go. Foreclose, let the banks file bankruptcy, and allow those left standing to buy them up at firesale prices. I don't think the bailout will do anything but forestall the reckoning that is long overdue, and it will just cost $700 billion more than it already has. Cut losses and abandon this legislation. The industry can fix itself better than these leeches will ever dream and they'll do it without costing the rest of us anything (other than what we'll already be paying in the general economy on account of the failures of all these loans). And for god's sake, get rid of the FM's and the CRA. Do not let one penny of what was sucked up through that racket to remain in the hands of those who profitted from it.

I'll put money on the prediction that a depression is unlikely. I'd be less inclined to believe that, however, if this bill passes.

I wish I could be as optimistic as you and I know it is a socialistic thing to do but I think either the bail out goes through or we are screwed. I fear that if the banks continue tightening credit, millions of small business' who depend on short term loans for purchasing materials and what not will fail resulting in massive unemployment which in turn will lead to a depression. I am no expert on the economy, but this seems the way we are heading.

 

[bumblebee]

Well i'm glad McCain rushed back to Washington to save this bill and even talked it up and bragged about it yesterday morning.........wait for it............wait for it..............McCain=FAIL

 

[hoodonit00]

Well i'm glad McCain rushed back to Washington to save this bill and even talked it up and bragged about it yesterday morning.........wait for it............wait for it..............McCain=FAIL

If the Dems thought it was such a great plan they could have passed it you know. They have the majority. Apparently enough Dems didn't like the bill as it was presented and shot it down.