1. Attention: We have put together a thread with tips and a tutorial video to help with using the new software. Please take a moment to check out the thread here: Trapshooters.com Tutorial & Help Video.
    Dismiss Notice

The forgotten bailout......

Discussion in 'Off Topic Threads' started by bigdogtx, Nov 22, 2012.

Thread Status:
Not open for further replies.
  1. bigdogtx

    bigdogtx Well-Known Member

    Joined:
    Aug 5, 2006
    Messages:
    10,650
    this could get REALLY,,,,,,,BAD......
     
  2. bill1949

    bill1949 Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    2,743
  3. Barrelbulge(Fl)

    Barrelbulge(Fl) TS Supporters TS Supporters

    Joined:
    Aug 27, 2007
    Messages:
    11,676
    Location:
    West Central Florida
    TTT Actually it all started with Jimmy Carter and Clinton expanded a bad program. Bulge.
     
  4. Johnny

    Johnny Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    2,804
    Fannie Mae and Freddie Mac should eventually make a profit on all the foreclosed homes.
     
  5. John Galt

    John Galt TS Member

    Joined:
    Jun 12, 2011
    Messages:
    2,788
    Sure thing goober.
     
  6. halfmile

    halfmile Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    15,642
    Location:
    Green Bay Wisconsin
    I have related this before, but if you missed it here it is again. (Bulge has it)

    Reno promised to prosecute any lender who did not give a mortgage to a minority person, even if he couldn't possibly make the payments. Repeal of the Glass-Steagall act allowed investment and brokerage houses to traffic in mortgages and the game was on.

    Once that became policy, mortgage writers sold all their paper quickly to the secondary market immediately upon creation.

    these were bundled into Mortgage Backed Securities, and a host of other initial crazy derivatives which the bright boy traders had a ball gambling on.

    When it busted out, instead of letting a couple of rich investment houses take the hit we started shoveling money into them, which they spent wildly at the tables again. Some collapsed before the federal gifts. Bear Stearns and Wachovia come to mind.

    Had the government kept their big fat sticky fingers out of private business there would have been a short sharp recession and a speedy recovery. Now we are in the quicksand, and because of adding Obamacare and coming EPA regs we will probably not get out.

    HM
     
  7. Brian in Oregon

    Brian in Oregon Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    25,254
    Location:
    Deplorable Bitter Clinger in Liberal La La Land
    The irony is this financial mess, created and expanded by the liberals, wound up being blamed on Bush in what was one of the biggest propaganda coups ever.
     
  8. Catpower

    Catpower Molon Labe TS Supporters

    Joined:
    Jan 29, 1998
    Messages:
    10,247
    Location:
    In the Cabana
    And it helps so much when the media is in their back pocket, or vice versa
     
  9. Jerbear

    Jerbear TS Member

    Joined:
    Jan 29, 1998
    Messages:
    3,588
    Jerbear
     
Thread Status:
Not open for further replies.