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#21
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On Thu, 29 Apr 2010 15:05:36 -0700 (PDT), Mike
wrote: On Apr 29, 4:25*pm, bpuharic wrote: On Thu, 29 Apr 2010 05:51:52 -0700 (PDT), Mike wrote: they have their delusions. i have the facts irrelevant. you're talking marginal influences i'm talking meat and potatoes. *that's why you need FACTS rather than right wing myth Sorry, just can't buy those statistics. yeah. god forbid you should actually consider facts. that would mean rush is full of **** You honestly think that substantial increase didn't have anything do do with the many more loans bundled up and sold off to investors? The fire that fueled the CDO's and CDS's was the increase in loans and a "belief" that house prices would continue to appreciate to astronomical levels. ?? what makes you think these had ANY relationship to the middle class at all? jon chait in the 'new republic' details the king of CDO's, 'fab' tourre, in an email to his girlfriend, admitting these 'instruments' have NO relationship to ANY tangible assets at all see, this is where you right wingers jump the track. you have more faith in the rich than a saint has in christ, so are unable even to comprehend that the 'financial engineering' (and, yes, it's a real term, you can even major in it), has reality contemporary finanical engineering invented instruments whose sole worth was determined not by assets, but by perceived value of investors...primarily the rich. so they bought and sold this ghost investments to each other...told each other the math was solid. not realizing it was built on a house of cards.... but, of course, this involved the rich. not the middle class. you're unable to even relate to such lies, because they DO involve the rich, so you relate to them in the only way you've been taught you blame the middle class so, go ahead. believe 'fab' tourre. believe john paulson. go ahead. keep voting right wing...they'll laugh all the way to the bank as you continue to blow out the middle class. If you really want to start tracing the origins of this mess, go look- up the Community Reorganization Act (CRA) from the 70's. It was a legitimate program. 25 of the largest 26 mortgage companies that went bust were not subject to the CRA. another right wing myth. But, later on (as you'll read), it became a *penalty* (and fine) for banks not to loan (signed by Bill Clinton). Years later, the greedy assholes on WS sunk their teeth into it and developed creative financial tools to capitalize on it. But again, they were not *solely* responsible. Many people, including us, were. that's right. we kept voting right wing. and they just kept laughing all the way to our paychecks Mike |
#22
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posted to rec.boats
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"Mike" wrote in message
... On Apr 29, 12:01 pm, "nom=de=plume" wrote: "Mike" wrote in message ... On Apr 29, 6:18 am, bpuharic wrote: On Wed, 28 Apr 2010 19:22:17 -0700 (PDT), Mike wrote: On Apr 27, 7:11 pm, bpuharic wrote: On Tue, 27 Apr 2010 17:41:42 -0400, John H wrote: no wonder the rich hate lawyers. they've prevented any protection for the middle class...and they want to gut the last vestiges of any protection at all Would you please do us all a favor and get off your "the middle class got screwed kick"? I'm "middle class" but don't whine like a bitch, like 99% of you're posts do. Get over it, for Christ's sake. ROFLMAO!! glenn beck cries rivers about the poor rich. canucks and others here telll us how we MUST suck the cocks of the rich because americans are REQUIRED to protect them and make them feel good *You* relied on the Wall Street pigs to "gamble" your money (401K plan). uh, no. me and 100,000,000 others did as we were told by the rich -we worked hard -we gave up our pensions to the rich -we used the ONLY retirement vehicle open: 401k's and we got screwed. all of use. the average drop in 401k's in the last 3 years was 35% 8,000,000 jobless. foreclosures at a record... Maybe, just maybe, it's not always somebody else's fault. Take a hard look in the mirror. more right wing bull****. blame the victim. it's NEVER the rich, you see. THEY didn't invent CDO's. it's the fault of the middle class; although, as conservative david frum pointed out, the middle class hasnt had a pay increase in TEN YEARS so tell me...how is it the fault of the middle class? Doesn't matter though; you're brainwashed. Carry on with your ranting and raving. *You* got screwed. We get it. Good grief :) yeah. the problem with the right is they deny there's a problem. caused by the unregulated free market. they have their delusions. i have the facts As much as I can't stomach some of the sleezy losers on Wall Street, including the banks that endorsed creative BS financial tools like CDS's, do you honesty think we, as middle class, were not somewhat responsible for the record foreclosures, as you've claimed? Yes. I think many people over-extended themselves without really thinking about it as much as they should. That doesn't absolve WS for lying and cheating though. I know people that were fully aware should not be trying to take out a loan for a $450K+ house but did so anyway. Also know people that purposely faked their true incomes to get the loans. And, many were on a "home-flipping" spree and bragging about it during the housing bubble. They knew what they were doing. I know people who were leveraged up to the Empire State's roof line. One couple bought 20 houses across the country. They're now bust. They didn't fake income, however. If you knew people that faked income or committed some other kind of fraud, did you turn them in? Probably not, so you can't be blameless either. But, according to you, it wasn't their fault. They were the "victims". Give me a break. *Many* were responsible for the housing bubble and subsequent crash. Including us regular Joe's and Jane's. But also people like your beloved Dems in Congress, namely The Honorable Congressman Barney Frank. Yes, there's blame to go around. I think we get your point. Now, as to solutions... WS needs regulation. Banks need regulation, but your beloved Republicans were blocking (up until yesterday) even debate on what should be done. Instead they wanted "backroom" deals first. I haven't followed all the recent political crap of late, but can offer this: isn't it already being regulated without the Government's formal intervention in the form of reform? One can have a firm, fixed income in the 6-figure range, a reasonable income to debt ratio, a 750 credit score and *still* can't get a loan. Those that do obtain loans have to go through a colonoscopy to get one. Mike Not regulated enough, apparently. You're right about the can't get a loan part. It's a pill for everyone. |
#23
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posted to rec.boats
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On Apr 29, 6:12*pm, bpuharic wrote:
On Thu, 29 Apr 2010 15:05:36 -0700 (PDT), Mike wrote: On Apr 29, 4:25*pm, bpuharic wrote: On Thu, 29 Apr 2010 05:51:52 -0700 (PDT), Mike wrote: they have their delusions. i have the facts irrelevant. you're talking marginal influences i'm talking meat and potatoes. *that's why you need FACTS rather than right wing myth Sorry, just can't buy those statistics. yeah. god forbid you should actually consider facts. that would mean rush is full of **** *You honestly think that substantial increase didn't have anything do do with the many more loans bundled up and sold off to investors? *The fire that fueled the CDO's and CDS's was the increase in loans and a "belief" that house prices would continue to appreciate to astronomical levels. ?? what makes you think these had ANY relationship to the middle class at all? jon chait in the 'new republic' details the king of CDO's, 'fab' tourre, in an email to his girlfriend, admitting these 'instruments' have NO relationship to ANY tangible assets at all see, this is where you right wingers jump the track. you have more faith in the rich than a saint has in christ, so are unable even to comprehend that the 'financial engineering' (and, yes, it's a real term, you can even major in it), has reality contemporary finanical engineering invented instruments whose sole worth was determined not by assets, but by perceived value of investors...primarily the rich. so they bought and sold this ghost investments to each other...told each other the math was solid. not realizing it was built on a house of cards.... but, of course, this involved the rich. not the middle class. you're unable to even relate to such lies, because they DO involve the rich, so you relate to them in the only way you've been taught you blame the middle class so, go ahead. believe 'fab' tourre. believe john paulson. *go ahead. keep voting right wing...they'll laugh all the way to the bank as you continue to blow out the middle class. If you really want to start tracing the origins of this mess, go look- up the Community Reorganization Act (CRA) from the 70's. *It was a legitimate program. 25 of the largest 26 mortgage companies that went bust were not subject to the CRA. another right wing myth. But, later on (as you'll read), it became a *penalty* (and fine) for banks not to loan (signed by Bill Clinton). *Years later, the greedy assholes on WS sunk their teeth into it and developed creative financial tools to capitalize on it. *But again, they were not *solely* responsible. *Many people, including us, were. that's right. we kept voting right wing. and they just kept laughing all the way to our paychecks Mike You know, the more I *get* your POV, the more I understand. As I said before, get over it. The chip on your shoulder is one of the largest I think I've ever seen. I don't vote "Republican" all the time. In fact, here and there. Votes are based on a (trying) legitimate common sense approach. I don't like Politicians for the most part. I think they are generally *all* corrupt. Doesn't matter what political affiliation they belong to. You're still wrong. You're just brainwashed to think the big, bad, world is out to get you. If you're living paycheck-to-paycheck, I understand. Make yourself more valuable to your employer (or if you are an employer build something of value). But, stop blaming everyone else. You are brainwashed, as I've mentioned before. Frankly, your attitude sucks. Keep it up and you'll be one miserable "prick" for the rest of your life. Think about it. Just offering a different POV. No offense. Mike |
#24
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posted to rec.boats
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On Thu, 29 Apr 2010 23:44:07 -0700 (PDT), Mike
wrote: On Apr 29, 6:12*pm, bpuharic wrote: On Thu, 29 Apr 2010 15:05:36 -0700 (PDT), Mike wrote: and they just kept laughing all the way to our paychecks Mike You know, the more I *get* your POV, the more I understand. As I said before, get over it. The chip on your shoulder is one of the largest I think I've ever seen. 'getting over it' is just another way of saying 'let 'em do it again'. sorry. i don't enjoy getting raped. You're still wrong. You're just brainwashed to think the big, bad, world is out to get you. hardly. if i was, i'd be a teabagger muttering about socialists and the bilderbergers, like canuck does If you're living paycheck-to-paycheck, I understand. Make yourself more valuable to your employer (or if you are an employer build something of value). ROFLMAO!! with 8M unemployed, how valuable is ANYONE to his employer? you right wingers have your little myths...no facts. it's cute! But, stop blaming everyone else. You are brainwashed, as I've mentioned before. Frankly, your attitude sucks. Keep it up and you'll be one miserable "prick" for the rest of your life. damn right my attitude sucks. i'm tired of seeing good, honest, hardworkin people getting SCREWED economically AND having to take the blame for the problems we have and you? you just keep grabbing your ankles. nothing will ever get changed that way? and the guys on wall street will just keep lining up for another shot at you. the difference between you and me is i'm willing to do something about the problems we have. you just want to blame the victims. Mike |
#25
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posted to rec.boats
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wrote in message
... On Thu, 29 Apr 2010 09:01:09 -0700, "nom=de=plume" wrote: If you knew people that faked income or committed some other kind of fraud, did you turn them in? Probably not, so you can't be blameless either. Who would you turn them in to? Dial 911? There were no cops who were going to care, nor was the federal government concerned Fannie and Freddy were writing NINJA loans themselves. I'd start with the FBI. |
#26
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posted to rec.boats
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wrote in message
... On Sat, 1 May 2010 22:01:42 -0700, "nom=de=plume" wrote: wrote in message . .. On Thu, 29 Apr 2010 09:01:09 -0700, "nom=de=plume" wrote: If you knew people that faked income or committed some other kind of fraud, did you turn them in? Probably not, so you can't be blameless either. Who would you turn them in to? Dial 911? There were no cops who were going to care, nor was the federal government concerned Fannie and Freddy were writing NINJA loans themselves. I'd start with the FBI. You would not get very far. The FBI does not have any jurisdiction over what is considered a local fraud case involving a home buyer and a loan officer. There is even a pretty good question about who was committing the fraud. The loan people (calling them "officer" is ridiculous), were coaching the buyers on how to fill out the application so it would go through and there was no real credit checking going on. These mortgage companies were getting money in $50 million dollar blocks and getting bonuses if they could write loans. My wife was building houses and closing 2 a week, That is about a million bucks a week gross. I'm betting I would get quite far. At the minimum, they would recommend who to call. Banking fraud, if it is that, is a federal crime. |
#27
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posted to rec.boats
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#28
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#29
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posted to rec.boats
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wrote in message
... On Sun, 2 May 2010 10:16:15 -0700, "nom=de=plume" wrote: wrote in message . .. On Sat, 1 May 2010 22:01:42 -0700, "nom=de=plume" wrote: wrote in message m... On Thu, 29 Apr 2010 09:01:09 -0700, "nom=de=plume" wrote: If you knew people that faked income or committed some other kind of fraud, did you turn them in? Probably not, so you can't be blameless either. Who would you turn them in to? Dial 911? There were no cops who were going to care, nor was the federal government concerned Fannie and Freddy were writing NINJA loans themselves. I'd start with the FBI. You would not get very far. The FBI does not have any jurisdiction over what is considered a local fraud case involving a home buyer and a loan officer. There is even a pretty good question about who was committing the fraud. The loan people (calling them "officer" is ridiculous), were coaching the buyers on how to fill out the application so it would go through and there was no real credit checking going on. These mortgage companies were getting money in $50 million dollar blocks and getting bonuses if they could write loans. I'm betting I would get quite far. At the minimum, they would recommend who to call. Banking fraud, if it is that, is a federal crime. You would end up at Fannie and Freddie if you followed the money, eventually getting to congress. That was another thing that got de facto deregulation. The lenders were discouraged from trying to hard to disqualify marginal buyers and when this thing crashed, otherwise very credible buyers were suddenly marginal. Nobody really believed the market could crash and they thought that if a buyer defaulted, they would just sell the house to the next guy on the list at a higher price If this was just who wrote a bad loan, you could easily bust a lot of $35,000 a year loan clerks but how high did you want to go? Do you want to go up to told them it was OK, or even those who made it a condition of employment. They aren't enforcement agencies... the FBI is one. |
#30
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posted to rec.boats
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wrote in message
... On Sun, 2 May 2010 23:49:11 -0700, "nom=de=plume" wrote: wrote in message . .. On Sun, 2 May 2010 10:16:15 -0700, "nom=de=plume" wrote: wrote in message m... On Sat, 1 May 2010 22:01:42 -0700, "nom=de=plume" wrote: wrote in message news:f8vpt5tba13ilcshlfurdcfn1cok5cdb15@4ax. com... On Thu, 29 Apr 2010 09:01:09 -0700, "nom=de=plume" wrote: If you knew people that faked income or committed some other kind of fraud, did you turn them in? Probably not, so you can't be blameless either. Who would you turn them in to? Dial 911? There were no cops who were going to care, nor was the federal government concerned Fannie and Freddy were writing NINJA loans themselves. I'd start with the FBI. You would not get very far. The FBI does not have any jurisdiction over what is considered a local fraud case involving a home buyer and a loan officer. There is even a pretty good question about who was committing the fraud. The loan people (calling them "officer" is ridiculous), were coaching the buyers on how to fill out the application so it would go through and there was no real credit checking going on. These mortgage companies were getting money in $50 million dollar blocks and getting bonuses if they could write loans. I'm betting I would get quite far. At the minimum, they would recommend who to call. Banking fraud, if it is that, is a federal crime. You would end up at Fannie and Freddie if you followed the money, eventually getting to congress. That was another thing that got de facto deregulation. The lenders were discouraged from trying to hard to disqualify marginal buyers and when this thing crashed, otherwise very credible buyers were suddenly marginal. Nobody really believed the market could crash and they thought that if a buyer defaulted, they would just sell the house to the next guy on the list at a higher price If this was just who wrote a bad loan, you could easily bust a lot of $35,000 a year loan clerks but how high did you want to go? Do you want to go up to told them it was OK, or even those who made it a condition of employment. They aren't enforcement agencies... the FBI is one. The FBI would not look into a case where somebody fudged a loan application. Never said they would or wouldn't. I said I would start with them and they would certainly direct me to the proper authority. |
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