News You Missed

Ralphy · #1 (**permalink**) 01-20-2010, 11:25 PM

Geithner Gives Housing Industry A Huge Christmas Present: Unlimited Fannie And Freddie Bailouts

They pulled this trick off on Christmas Eve. This party is spending us into a major debt.

http://www.businessinsider.com/henry...ilouts-2009-12

Dan40 · #2 (**permalink**) 01-21-2010, 09:42 AM

Wonder how the Chrysler BONDHOLDERS feel about the Fannie and Freddie BONDHOLDERS?

We have an administration in complete chaos. Chaos they created, not "inherited." They inherited problems [every administration does] the chaos is of their own doing.

Ron61 · #3 (**permalink**) 01-21-2010, 10:37 AM

With a little more work by our open Govt.they should be able to duplicate the mess we are now in before Obama's first term is over. Then how can he cry "I inherited this mess?"

Ron

Excaliber · #4 (**permalink**) 01-21-2010, 11:13 AM

Quote:

They inherited problems [every administration does] the chaos is of their own doing.

Pretty much shows a complete dismissal of the last 8 years of "history", how ironic.

Dan40 · #5 (**permalink**) 01-21-2010, 11:24 AM

Quote:

Originally Posted by Excaliber

Pretty much shows a complete dismissal of the last 8 years of "history", how ironic.

Is there a comprehension problem here?

They inherited problems [every administration does] the chaos is of their own doing.

They inherited problems
No dismissal of history,

every administration does
rather an acknowledgment of it.

the chaos is of their own doing.
And now we are up to present day!

And nothing ironic about a liberal attempting to twist words either. that's their forte, sad they're not good at it.

Excaliber · #6 (**permalink**) 01-21-2010, 11:31 AM

There STILL dealing with the chaos of the eight years before them!

A simple fact those with a low IQ are unable to understand.

Dan40 · #7 (**permalink**) 01-21-2010, 12:04 PM

Quote:

Originally Posted by Excaliber

There STILL dealing with the chaos of the eight years before them!

A simple fact those with a low IQ are unable to understand.

Did Mr Mensa of the HIGH IQ Mensa's mean They're? As in They Are?

And since I'm Sooooooo dumb, please point out exactly which chaos from the prior 8 years you mean.

Excaliber · #8 (**permalink**) 01-21-2010, 01:09 PM

Oh you didn't notice the small economic bump in the road we experienced just as Bush was leaving office? Man, you should get out more.

Dan40 · #9 (**permalink**) 01-21-2010, 02:17 PM

Bush Junior gets his share for that. And Clinton gets his share for that. And Bush Senior gets his share for that, and Reagan gets his share for that. And Carter gets his share for that. The economy does its up and down cycles regardless of which incompetent party messes with it. But this time, both parties conspired, with best intentions, for years to deregulate good regulations and to provide people with an opportunity they didn't need, or deserve or could afford. And finally the "Perfect Storm" hit.
Sometimes the market takes a hit and the economy is fine. Sometimes the economy takes a hit and the market is fine. When both take a hit at the same time, everybody takes note. This time they both took a hit at the same time the housing and banking bubbles burst. Both those bubbles were created over decades by both the Democrats and the Republicans. So GWB is not innocent, but he is only a cog in a long broken wheel. But obummer inherited it from his party AND the other party, not just Bush. And doing ANYTHING about what has building for most of all Obama's life is a monumental task to take on. No matter what he tried, he might still be condemned for today. But what he did was pass [ram] a pork spending bill through. Spending ourselves out of debt was not and never will be an answer, nation or individual. Then he turned to his left wing agenda of Cap 'n' Trade and health care reform. Neither should have been in the top 10 priorities in this economy. But he pushed health care to the top, excluding all others. So now he owns this economy by his own errors.

Ralphy · #10 (**permalink**) 01-22-2010, 12:52 PM

Miracles do exist, Barney finally makes a little sense.

Fannie, Freddie Cannot Exist in Current Form: Frank

http://finance.yahoo.com/news/Fannie...&asset=&ccode=

2_Dang_Fast · #11 (**permalink**) 01-22-2010, 03:44 PM

Quote:

Originally Posted by Ralphy

Geithner Gives Housing Industry A Huge Christmas Present: Unlimited Fannie And Freddie Bailouts

They pulled this trick off on Christmas Eve. This party is spending us into a major debt.

http://www.businessinsider.com/henry...ilouts-2009-12

Yes, thank god that no one here borrowed against their house to purchase their Cobra, put in a pool, gold plate the crapper, etc. It was those that borrowed thinking the equity in their homes would feed a never ending party that got us into this FINANCIAL mess. There is also a over looked little nut called the Iraq war that is sending our deficit spiraling upward. But I guess if you or a loved one works for a defense contractor then all is cool. That is the circle of life... money wise.

Excaliber · #12 (**permalink**) 01-22-2010, 04:23 PM

Maybe that's one reason so many Cobras are on the market now? Home Equity loans!

There is little choice but to bail out Fannie and Freddie and even that will only help, not cure, the problem of so many bad mortgages held by so many institutions. I don't know what the solution is but it's unlikely you can simply dump all those and write them off. THAT is fundamentally what the economic crisis is all about in the first place! The fear that that would happen, the debts are still there, somebody is going to eat it. Looks like the taxpayers are going to be a big part of the somebody.

Can we blame ourselves? Sure can, in large part. Who here hasn't thought about buying another house for an investment during the good times? Or financed something with a loan based on your equity? It's easy to shift the blame on those low life welfare types that bought houses. Personally I think thats the tip of the ice berg. We might want to start the search, by looking in the mirror!

Ralphy · #13 (**permalink**) 01-23-2010, 10:08 AM

I still think the $4.00 plus gasoline is what got the ball rolling. Many were living day to day on small incomes with mortgages. Their cost went up with fuel and food, making it hard for them to make ends meet.

Quote:

Originally Posted by 2_Dang_Fast

Yes, thank god that no one here borrowed against their house to purchase their Cobra, put in a pool, gold plate the crapper, etc. It was those that borrowed thinking the equity in their homes would feed a never ending party that got us into this FINANCIAL mess. There is also a over looked little nut called the Iraq war that is sending our deficit spiraling upward. But I guess if you or a loved one works for a defense contractor then all is cool. That is the circle of life... money wise.

Larry Spillman · #14 (**permalink**) 01-24-2010, 02:23 PM

You only have a problem if you dont have an answer. Obama has to get things moving forward or he is a 1 term president. He speaks well and means well but this American economy needs More than words. It needs answers that can be applied to cure our problems QUICKLY. Where did all the jobs go????????You cant churn money thru the economy when no one can earn the money to pass on to another level.ROSS PEROT was rich the giant sucking sound you here is wealth leaving AMERICA.Or thr guy that sells wax on TV.