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OT - Let the heavy sweating begin

Discussion in 'Uncategorized Threads' started by halfmile, Aug 20, 2008.

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  1. halfmile

    halfmile Well-Known Member

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    Watching Fannie Mae and Freddie Mac down 13 and 14 per cent, lowest levels in 18 years.

    When they implode, there will be a 100 BILLION DOLLAR hole in our economy.

    They're already talking bailout. What will a hundred bil in additional taxes do to us?

    If bailout looms, better call, write, fax, email, and scream to legislators at the top of your lungs.

    The free capitalist market has no room for this crap. The leadership of these 2 turds has been flooding washington with money while the execs got rich.

    Time for the bodies to be swinging from the lamp post soon.

    HM
     
  2. merlynstrapguns

    merlynstrapguns Well-Known Member

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    If history repeats itself, and the lenders etc are "bailed out as were the S + Ls many years ago, then we assume that we should be rewarded for piss poor performance. But wait! If the lenders are allowed to implode, the very people who are in charge of this disaster will be hired to "fix" the problem.

    HHHMMM, I wonder who is to pay either way and who will come out smelling like the proverbial rose. ________ That is what I thought.........merlyn.....
     
  3. halfmile

    halfmile Well-Known Member

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    The greed heads have gotten their money and it won't come back.

    The results are going to be bad either way. Lots of mutuals have these turkeys and 401K problems will happen if the market is allowed to work its way out of this.

    If the taxpayers have to cough up get out the K-Y.

    HM
     
  4. W.P.T.

    W.P.T. TS Member

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    This is the proverbial "Nature of the Beast" and the American Taxpayer takes it in the end (no pun intended) ... WPT ... (YAC) ...
     
  5. grnberetcj

    grnberetcj Active Member

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    Hell with it! I bought/invested oil futures at $80 per barrel....sold at $130...

    If people are invested in 401(k)'s...they better get knowledgeable and manage their own money. If not...well, we all know what may/will happen!

    Curt
     
  6. dmarbell

    dmarbell Active Member

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    HM,

    Don't sweat a $100 billion bailout. That's a drop in the bucket on top of the deficits being run by the current conservative administration - not even including the war in Iraq. It's 1.04% of the current national debt of $9.6 trillion.

    If we could manage to run a $100 billion surplus, we'd pay off the national debt in 96 years. Do you think there's a real difference between 96 years and 97 years?

    By contrast, the S&L Bailout cost at least $125 billion in govenment money, ending in 1995. Inflation has been low, by traditional estimates, but with inflation and the devaluation of the dollar, those 1986-1995 dollars totalling $125 billion would be worth something today.

    Danny
     
  7. halfmile

    halfmile Well-Known Member

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    The S&L bailout was a criminal operation in response to another criminal operation.

    Savings and loan associations were not well liked by the big boyz and the opportunity to plunder them was just too good to resist. That and the Tyco, Enron, etc fiascos have really hit the little guys and retired.

    Jeb and Neal Bush were part of the action, but only doing what they were told. Both should have been jailed for it.

    Fake loans and kickbacks were the order of the day. I saw a 2 stall garage that was the office of the contractor/recipient of $35 million in loans (defaulted, of course) in the Phoenix area.

    Since the predators usually get a slap on the wrist if and when they are caught it just won't stop.

    These 2 Mortgage concerns hold half the mortgages in the country. Serious stuff is on the way.

    Next: Credit card meltdown.

    HM
















    I would tend to doubt that 125B figure unless you have something concrete on it.


    HM
     
  8. dmarbell

    dmarbell Active Member

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    HM,

    I was shocked at how low it was, also. Do some searching. That's what I found.

    I recall $500 billion estimates.

    Danny
     
  9. halfmile

    halfmile Well-Known Member

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    Those people have assets everywhere, and I would bet a lot that much of it is in other than dollar denominated issues.

    Swiss Francs in Swiss Banks can't go wrong. Numbered accounts, y'know.

    HM
     
  10. Little Dog

    Little Dog TS Member

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    Just like that dim bulb 2st8 says, it's all Bush's fault.
     
  11. halfmile

    halfmile Well-Known Member

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    Bush haters pay attention:

    The 545 people who run this country have been looting it for years. Billions of dollars in earmarks and lobby money above the table and a lot more below.
    Pork galore, enough to gag all the Muslims in history.

    Fannie Fay and Freddie Mac Shovelled in the largesse like manure in a garden, and lo, the mortgage rules were relaxed and a host of new vehicles to make money birthed.

    The problem here is akin to that of a family shopping for groceries with a credit card and not having the money to pay for them.

    Yes, I mean Borrowing to consume. Vacations, Gadgets that last a short time, even gasoline. And we do that.

    Never in history has our level of debt, both public and private been reached.

    That darkness you see? NO, the sky is not falling. That's the chickens coming home to roost.

    HM
     
  12. Paladin

    Paladin Well-Known Member

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    "That's a drop in the bucket on top of the deficits being run by the current conservative administration"

    The president signs the budgets, but the LIBERAL CONGRESS appropriates it. The newspaper headlines from the LIBERAL CONGRESS' last budget read,,'PORK LIVES'.
     
  13. Paladin

    Paladin Well-Known Member

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    Speaking of goose and gander, 2dumb/deckart said, "It happened on his watch...so it is his fault."

    Did you bother to ask liberal Sen. Christopher Dodd, D - Conn., the chairman of the Senate Banking Committee who's fault it is??
     
  14. halfmile

    halfmile Well-Known Member

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    541 people, the Supreme Court, the Congress, the Cabinet and the executives.
    That's who runs the country. And the Federal Reserve, a private concern composed of 20 major banks.

    And you Say "It happened on his watch". Like it wasn't born already in the Clinton Era, and before that.

    We are talking about the huge real estate fiasco that has been going on for 20 years.

    To inject a partisan remark like that shows a complete lack of reading comprehension.

    If you just want to bash Bush, start your own thread.

    HM
     
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