Guest Guest Posted February 20, 2009 Report Share Posted February 20, 2009 Yes, I can tell you who was president, and I can also tell you why it started tanking then also!! Refer to post #168 in this thread!! How about some facts, Tom? http://moneycentral.msn.com/investor/chart...p;CP=0&PT=8 Link to comment Share on other sites More sharing options...
Guest Guest Posted February 20, 2009 Report Share Posted February 20, 2009 Friday, 2/20, 2 PM DOW now down ~ 175. Thanks Barak. How about trashing your stimulus bill and starting all over with a bill that is a real stimulus and will provide immediate help. This new long-term liberal agenda is going to destroy us. Link to comment Share on other sites More sharing options...
Guest Guest Posted February 20, 2009 Report Share Posted February 20, 2009 Obviously, you are out of touch!! Here, listen to the words and notice who is speaking them!! http://www.youtube.com/watch?v=_MGT_cSi7Rs Next, I expect to hear from you "Oh, youtube. That explains it." Let's not forget Tom, the Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown. Link to comment Share on other sites More sharing options...
Guest Guest Posted February 20, 2009 Report Share Posted February 20, 2009 Friday, 2/20, 2 PM DOW now down ~ 175. Thanks Barak. How about trashing your stimulus bill and starting all over with a bill that is a real stimulus and will provide immediate help. This new long-term liberal agenda is going to destroy us. Stupidest post of the day, part III. Link to comment Share on other sites More sharing options...
Logical Attacks Posted February 20, 2009 Report Share Posted February 20, 2009 Friday, 2/20, 2 PM DOW now down ~ 175. Thanks Barak. How about trashing your stimulus bill and starting all over with a bill that is a real stimulus and will provide immediate help. This new long-term liberal agenda is going to destroy us. You're like a republican ticker tape, woo for the constant updates. Can you please outline what you consider a real stimulus bill that would provide immediate help? Where should the money go, I'm curious as to how you feel the money should have been spent you seem to want to cry about how it is going to be spent, but yet you offer no form of alternative. Link to comment Share on other sites More sharing options...
tom Posted February 20, 2009 Report Share Posted February 20, 2009 How about some facts, Tom? http://moneycentral.msn.com/investor/chart...p;CP=0&PT=8 Here's something even better!! If you notice, the DOW tanked shortly after the failure of FM and FM as a direct result of the Community Reinvestment act. Then notice how the DOW tanked the day after Obama was elected. Now notice how the DOW has tanked since this bogus spending bill. This is NOT purely coincidence!! Link to comment Share on other sites More sharing options...
Guest Guest Posted February 20, 2009 Report Share Posted February 20, 2009 You're like a republican ticker tape, woo for the constant updates. Can you please outline what you consider a real stimulus bill that would provide immediate help? Where should the money go, I'm curious as to how you feel the money should have been spent you seem to want to cry about how it is going to be spent, but yet you offer no form of alternative. I'm not the poster you are replying to but I can tell you what my idea of a stimulus package would have been.. Give every tax paying citizen (inc. unemployed) $40,000.00 and let them stimulate their own economy. This would have helped out with the mortgage stimulus that we DO NOT need to be implementing. I may as well take my credit card down to the bank and help my neighbor catch up his mortgage payments on that house he couldn't afford. Link to comment Share on other sites More sharing options...
Guest Guest Posted February 20, 2009 Report Share Posted February 20, 2009 Here's something even better!! If you notice, the DOW tanked shortly after the failure of FM and FM as a direct result of the Community Reinvestment act. Then notice how the DOW tanked the day after Obama was elected. Now notice how the DOW has tanked since this bogus spending bill. This is NOT purely coincidence!! The fact that CRA loans represent approximately less than HALF the loans made, and of that, only 1 in 4 was a subprime loan, and of THEM, few were sold.... (at MOST, that's 6% of loans) says the magnitude of the problem lies elsewhere. Approximately half of the subprime loans were made by independent mortgage companies that were not regulated by the CRA. The largest cause of the meltdown was something called 'Mortgage Default Swaps'. What I understand is that the brokerage firms sold these risky investments to people who wouldn't buy them without 'Mortgage Default Swaps'. 'Mortgage Default Swaps' are essentially unregulated insurance. The brokerage firms were betting they wouldn't have to pay out on the 'Mortgage Default Swaps' when the investment went bad. Normally insurance is regulated by ensuring the company has the capital reserves to pay out. Since these are 'Swaps' not 'Insurance' there are no reserves thus we are now bailing the firms out. Read more, post less Tom. Link to comment Share on other sites More sharing options...
Guest Guest Posted February 20, 2009 Report Share Posted February 20, 2009 I'm not the poster you are replying to but I can tell you what my idea of a stimulus package would have been.. Give every tax paying citizen (inc. unemployed) $40,000.00 and let them stimulate their own economy. This would have helped out with the mortgage stimulus that we DO NOT need to be implementing. I may as well take my credit card down to the bank and help my neighbor catch up his mortgage payments on that house he couldn't afford. Yes! And people could flock to Wally World and buy Chinese made goods. That would stimulate the US economy and promote US job growth! Link to comment Share on other sites More sharing options...
Logical Attacks Posted February 20, 2009 Report Share Posted February 20, 2009 The fact that CRA loans represent approximately less than HALF the loans made, and of that, only 1 in 4 was a subprime loan, and of THEM, few were sold.... (at MOST, that's 6% of loans) says the magnitude of the problem lies elsewhere. Approximately half of the subprime loans were made by independent mortgage companies that were not regulated by the CRA. The largest cause of the meltdown was something called 'Mortgage Default Swaps'. What I understand is that the brokerage firms sold these risky investments to people who wouldn't buy them without 'Mortgage Default Swaps'. 'Mortgage Default Swaps' are essentially unregulated insurance. The brokerage firms were betting they wouldn't have to pay out on the 'Mortgage Default Swaps' when the investment went bad. Normally insurance is regulated by ensuring the company has the capital reserves to pay out. Since these are 'Swaps' not 'Insurance' there are no reserves thus we are now bailing the firms out. Read more, post less Tom. Thanks. @ Link to comment Share on other sites More sharing options...
Guest Guest Posted February 20, 2009 Report Share Posted February 20, 2009 Yes! And people could flock to Wally World and buy Chinese made goods. That would stimulate the US economy and promote US job growth! Why not? China has helped prop up our economy. Why not return the favor. I take it you are not familiar with world ecomomics? It is sort of like you scratch my back I'll scratch yours. ie... China buys our treasury securities, we buy their products so they can have enough money to buy our treasury securities. @ Link to comment Share on other sites More sharing options...
tom Posted February 20, 2009 Report Share Posted February 20, 2009 The fact that CRA loans represent approximately less than HALF the loans made, and of that, only 1 in 4 was a subprime loan, and of THEM, few were sold.... (at MOST, that's 6% of loans) says the magnitude of the problem lies elsewhere. Approximately half of the subprime loans were made by independent mortgage companies that were not regulated by the CRA. The largest cause of the meltdown was something called 'Mortgage Default Swaps'. What I understand is that the brokerage firms sold these risky investments to people who wouldn't buy them without 'Mortgage Default Swaps'. 'Mortgage Default Swaps' are essentially unregulated insurance. The brokerage firms were betting they wouldn't have to pay out on the 'Mortgage Default Swaps' when the investment went bad. Normally insurance is regulated by ensuring the company has the capital reserves to pay out. Since these are 'Swaps' not 'Insurance' there are no reserves thus we are now bailing the firms out. Read more, post less Tom. If what you say is true, and I noticed you didn't name any of your sources, then all it took was 6% of those loans to fail to cause this global financial mess. You seem to insinuate that we would still be in this mess if there was NO Community Reinvestment Act, and that isn't true. Link to comment Share on other sites More sharing options...
Guest one who knows Posted February 20, 2009 Report Share Posted February 20, 2009 Agreed, low blow without any facts to back it up. Something about Tom makes me want to post things like this, don't know what it is. That being said, the market is a many variable beast, there are other reasons for the DOW taking a plunge. Low earning expectations amongst them, it's somewhat unfair to state that a stimulus package isn't working if it hasn't be implemented as of yet. I could also argue that it is a specious argument to blame the state of the DOW on one factor. The Dow is tanking because there is no plans for the banks and how all of this is going to move forward Geithner had one news conference and that was it and that was quite cluless as far as what to expect moving forward. also interesting point about the stimulus package as they all say stimulus is spending which will create jobs most of which are temporary (infastructure) that is alot different than a job for a corp. for 20 plus years. Business creat jobs not Gov and if they think they can replace consumer spending with Gov spending it is like peeing in the ocean Link to comment Share on other sites More sharing options...
Guest Guest Posted February 20, 2009 Report Share Posted February 20, 2009 There are now 10 pages on this thread without one liberal defending or supporting the "porkulus bill". Quite telling. They're obviously not proud of their Messiah's first efforts. The financial markets sure aren't impressed. Liberals are scary! @ Link to comment Share on other sites More sharing options...
Guest Guest Posted February 21, 2009 Report Share Posted February 21, 2009 There are now 10 pages on this thread without one liberal defending or supporting the "porkulus bill". Quite telling. They're obviously not proud of their Messiah's first efforts. The financial markets sure aren't impressed. Liberals are scary! @ I believe Logical Attacks actually supported it in various parts. It's very telling that you can't read. Link to comment Share on other sites More sharing options...
Guest Guest Posted February 21, 2009 Report Share Posted February 21, 2009 The fact that CRA loans represent approximately less than HALF the loans made, and of that, only 1 in 4 was a subprime loan, and of THEM, few were sold.... (at MOST, that's 6% of loans) says the magnitude of the problem lies elsewhere. Approximately half of the subprime loans were made by independent mortgage companies that were not regulated by the CRA. The largest cause of the meltdown was something called 'Mortgage Default Swaps'. What I understand is that the brokerage firms sold these risky investments to people who wouldn't buy them without 'Mortgage Default Swaps'. 'Mortgage Default Swaps' are essentially unregulated insurance. The brokerage firms were betting they wouldn't have to pay out on the 'Mortgage Default Swaps' when the investment went bad. Normally insurance is regulated by ensuring the company has the capital reserves to pay out. Since these are 'Swaps' not 'Insurance' there are no reserves thus we are now bailing the firms out. Read more, post less Tom. Why is it so had to see that this country started really going down the tubes when dems took congress 2 years ago? The dems created this whole problem forcing banks to give out loans that could never be paid back. The Bush admin warned of this and homo bernie frank skipped to ma loo and did what ever he wanted and the filthy pelosi wand others were all in on it. Stop Saying it was Bush and WAKE THE DELETED up and deal. Link to comment Share on other sites More sharing options...
Guest Guest Posted February 21, 2009 Report Share Posted February 21, 2009 I believe Logical Attacks actually supported it in various parts. It's very telling that you can't read. Your definition of support is interesting. Give us the post numbers & let others see if they agree with you. I don't. Link to comment Share on other sites More sharing options...
Guest Guest Posted February 21, 2009 Report Share Posted February 21, 2009 If what you say is true, and I noticed you didn't name any of your sources, then all it took was 6% of those loans to fail to cause this global financial mess. You seem to insinuate that we would still be in this mess if there was NO Community Reinvestment Act, and that isn't true. Read it again, Tom. Link to comment Share on other sites More sharing options...
Guest Guest Posted February 21, 2009 Report Share Posted February 21, 2009 Why is it so had to see that this country started really going down the tubes when dems took congress 2 years ago? The dems created this whole problem forcing banks to give out loans that could never be paid back. The Bush admin warned of this and homo bernie frank skipped to ma loo and did what ever he wanted and the filthy pelosi wand others were all in on it. Stop Saying it was Bush and WAKE THE F ****K up and deal. I would educate you to the facts, but I think that would be a shock to your cerebral system, causing a shut down of cognitive thinking even greater then what you are experiencing now. Link to comment Share on other sites More sharing options...
Guest Guest Posted February 21, 2009 Report Share Posted February 21, 2009 Why is it so had to see that this country started really going down the tubes when dems took congress 2 years ago? The dems created this whole problem forcing banks to give out loans that could never be paid back. The Bush admin warned of this and homo bernie frank skipped to ma loo and did what ever he wanted and the filthy pelosi wand others were all in on it. Stop Saying it was Bush and WAKE THE F ****K up and deal. Like I have said many times before: Barnie Frank should be in prison. He has the typical democratic opinion that everyone, especially the "down trodden", deserves to have a home no matter what the cost. Hence the disaster we face. This, of course, came AFTER Clinton relaxed the rules in regards to Fannie Mae and Freddie Mac. Link to comment Share on other sites More sharing options...
Guest Guest Posted February 21, 2009 Report Share Posted February 21, 2009 Like I have said many times before: Barnie Frank should be in prison. He has the typical democratic opinion that everyone, especially the "down trodden", deserves to have a home no matter what the cost. Hence the disaster we face. This, of course, came AFTER Clinton relaxed the rules in regards to Fannie Mae and Freddie Mac. You are so clueless, it's scary. Link to comment Share on other sites More sharing options...
Guest guest Posted February 21, 2009 Report Share Posted February 21, 2009 Hey! Here's some good news for all of the BCVoice Libs: ATLANTA (AP) — Former President Jimmy Carter has voiced support for President Barack Obama’s plan to stimulate the economy. Carter says he has “full confidence” in Obama’s proposal and expects it will take about six months for the economy to begin improving. If there’s anyone still alive with a worse record on addressing economic problems, I don’t know who it would be. Jimmy Carter gives the stimulus bill the Kiss of Death. HEH. Link to comment Share on other sites More sharing options...
Guest guest Posted February 21, 2009 Report Share Posted February 21, 2009 Hey! Here's some good news for all of the BCVoice Libs: ATLANTA (AP) — Former President Jimmy Carter has voiced support for President Barack Obama’s plan to stimulate the economy. Carter says he has “full confidence” in Obama’s proposal and expects it will take about six months for the economy to begin improving. If there’s anyone still alive with a worse record on addressing economic problems, I don’t know who it would be. Jimmy Carter gives the stimulus bill the Kiss of Death. HEH. Six months? We may all be dead. or broke or both by then. Link to comment Share on other sites More sharing options...
Guest Guest Posted February 21, 2009 Report Share Posted February 21, 2009 You are so clueless, it's scary. You are just in denial. People were able to get loans they couldn't afford. That's what caused this mess- greed and irresponsibility. Link to comment Share on other sites More sharing options...
Guest guest Posted February 21, 2009 Report Share Posted February 21, 2009 Hey! Here's some good news for all of the BCVoice Libs: ATLANTA (AP) — Former President Jimmy Carter has voiced support for President Barack Obama’s plan to stimulate the economy. Carter says he has “full confidence” in Obama’s proposal and expects it will take about six months for the economy to begin improving. If there’s anyone still alive with a worse record on addressing economic problems, I don’t know who it would be. Jimmy Carter gives the stimulus bill the Kiss of Death. HEH. Bad politicians don't die, they just hang around to torment us. Link to comment Share on other sites More sharing options...
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