First?
Pony Helper-for the children wrote on Wed, 04/15/2009 - 8:55pm. CDT
something more precious than fine ore, Baby.
Im holding you.
now piss up a rope:
http://www.youtube.com/watch?v=QYo1-tc9Mzw&feature=related
First?
"Only loans where the cost of the foreclosure would be higher than the cost of modification would qualify."
Not an expert here. Would this little statement significantly reduce the number of people who would qualify for the program?
sometimes i feel like i have a teabag in my throat, like that judge at the end of "The Wall", and the judge is congress....as a whole....
yours in crisis,
Doodie
Only 9.9 billion?
one of the quirks is that C is proceeding under the FDIC loan mod plan, per the terms of its exceptional assistance, while CitiMortgage (wholly owned subsidiary of C) is proceeding under the Obama plan.
i tried to explain that to a stressed out homeowner, but it didn't register...
8 ball ,
isnt the cost of FC the legal costs, plus what they would have to reprice the house to sell... the cost of FC in that case could be 50% of the loan.... so it would seem to open up to a whole lot of people...funny how people see it two diifferent ways...your thoughts repsected of course...
yours in crisis,
Doodie
something more precious than fine ore, Baby.
Im holding you.
now piss up a rope:
http://www.youtube.com/watch?v=QYo1-tc9Mzw&feature=related
8 Ball:
As market to market is now market to significant judgement,
it is probably safe to say any foreclosure costs more than
the loan modification.
Fiduciary Doodie:
Thanks for your opinion.
Homeowners, meanwhile, will get up to $1,000 a year for five years if they keep up with payments.
OK, I'm fine with loan modification, but to give an extra $1K to homeowners if they keep up with payments? That's like the ridiculous programs that they have to pay kids to attend school...
Modification - They originally lived in a house. Now they live under a tarp.
I laughed when OB claimed to help those who did everything right but can't pay. If they had done everything right they would not need help! Most of America is not smart enough to be mad!
Interesting timing, tax day, tea parties and all. Geithner, Bernanke, and Obama telling all of them to go **** themselves.
First Bank of Idaho is the next BFF.
This will work better than Hope Now. This news will cause Alcoa, GM, and Ruby Tuesday to go up tomorrow. This 9.9 billion will add a trillion in market cap. Money well invested. Helluva job brow... Oops.
The same money could be used to create and fund many small companies that could employ and help many more people.
So now we know the profit announcements for these firms for the next couple quarters...60% of the subsidies go to management bonuses, 30% to shareholder profits, and 10% to actual mortgage holders. Time for the market to rock-and-roll!!!
Dear new mortgage system,
how do I game thee?
Let me count the ways...
I actually believe from time to time that the government is more than a necessary evil, and can actually be a force for good in the country. Those occasions, however, generally occur only when there's a well thought-out program that not only takes into account the problem it's trying to solve, but also reckons with the likely unintended consequences of the program itself. So far as I can tell, none of the crisis-management responses we've seen meets the latter test. Given that the "crisis" is now 2 years old, we should be long past the "crisis-management" phase. We've given the clowns in charge plenty of time to catch up with the nature of both the problem and the flawed system which underlies it. At this point, we should expect much more from our policymakers.
I think maybe the next plan will be to pay the F'd borrowers to leave the house and give them 6 months rent in a decent apartment,,,,,, however, that wont work because it needs to be based on whole subdivisions and not individuals,..... i sit here and wait, wait for the subdivisions to become fully empty before we buy..even show interest and i thinhk there are folks like me waiting... we are at the age of the exotic loans now, that purchased the assload of mcmansions...whole phases...so more will not move because the DINKS, YUPPIES, wont move into a house with future FC'ers on either side... i can tell you in the higher end subdivisions we are seeing more and more cars parked on the street in front of houses...one sub in particular last year had a no street parking as part of the hOA, now there are 12-15 cars per house...and they i am guessing are now making the payments...but the thought of 12 cars in front for 30 yr length of note is silly.....
The greed was done a phase of construction at a time not a onezy twozy house
yours in crisis,
Doodie
Did you all see this the other day?
http://ftalphaville.ft.com/blog/2009/04/14/54660/we-dont-hate-you-aig/
.....Obama telling all of them to go **** themselves.
There are a lot of us out there who did not attend today's rally but are otherwise seething at the bailouts and goobermint deficits. Obama has a very short period of time to get this under control.
Then again, me and my friends just may be in the minority.
My tax dollars at work.
If a group of students turned in a plan like this in a college finance course, they would get an F. Of course, as Anonymous stated above, this is the government giving us the finger.
sheshe
Also, Treasury will not provide subsidies to reduce rates to levels below 2%.
Well, at least they have standards. I can understand modifying mortgages that had credit-card-like interest rates. But if you're going to be allowed to keep your house under this program, you should have to pay at least as high a rate as a prime borrower getting a new loan.
Anonymous wrote on Wed, 04/15/2009 - 8:51pm. CDT
First?
Hah! Try again, earthling. 
Bend over. Here I come.
curious,
It is not about being fair. It is about making home affordable.
Q: Where's B of A/Countrywide? Are they running solo?
Brownward .. how predictable.....
what a genius BHO is.. go with the plan and get the shit stuck on you!!!! i bet these texans forgot small gouv. Bush allready...
i really think folks are going nuts now.... and it will be worse as the economy gets worse..
I mean like todays tea parties... decried by those on the left and claimed (fair or unfair) that financed by lobbyists and corporations and decried by the MSM
yet the last 8 years George Soros funded Move on and organized a movement and protests and it was OK..
And vice versa...
if you didnt vote for Obama it was wrong because you didnt vote for him because he was black
but it was OK to vote for Obama because he was black..
I dont think people see the hypocrisy in themselves anymore....
me i just have a hard time explaining to my kids that we have had to borrow and print more money, raise taxes to pay for the bailout (pre Obama) and then everyday they ask me " well if we are broke how are we going to pay for this healthcare ifit costs billions?" And i tell tyhem i have no idea..
they say "doesnt the president and congress know we are broke?
I say yeah, then they say then why do they keep making more programs....
I say i dont know son... (and it scares me that i dont know, and that at 11 they catch on....)
yours in crisis,
Doodie
How long until "Car Affordable", "Tee-Shirt Affordable" and "Lunchables Affordable" are unveiled?
Sheesh !
Broward,
That just confirms that the GOP has gone insane.
sheshe
Bondgirl,
And by affordable, do you mean by traditional 2.5x income, or affordable as in, "I don't care how long the mortgage takes to pay off, I can pay x dollars per month for my house"?
I suppose that an unstated consequence of the program is that it may keep the MBS income stream flowing.
kung fu,
I dont know maybe in a finance class they would get an f in some colleges but in some classes it would get an A, and in some finance classes it would get an A because the intent is meaningful....
yours in crisis,
Doodie
Basel Too (member) wrote on Wed, 04/15/2009 - 8:53pm.
one of the quirks is that C is proceeding under the FDIC loan mod plan, per the terms of its exceptional assistance, while CitiMortgage (wholly owned subsidiary of C) is proceeding under the Obama plan.
i tried to explain that to a stressed out homeowner, but it didn't register...
I think the idea is to keep issuing plans until there is a separate one for every single homeowner in the country. Still waiting for mine.....
Bond Girl (member) wrote on Wed, 04/15/2009 - 9:17pm.
curious,
It is not about being fair. It is about making home affordable.
Great. Maybe the 4th graders can send a "feel better" card to every taxpayer. 
I noticed a lot of consternation over the Tea-Baggers in the media.
I couldn't figure it out then it occurred to me:
A lot of the "social liberals" I know are quite fiscally conservative and sympathize with the Ron Paul movement (because they pay their rent and credit card bill reliably every month). This includes a lot of people who voted for Obama.
[I consider myself part of this group.]
The Tea-Bag movement potentially unifies the "Reagan Conservatives" (who don't have much credibility but a lot of popularity) with the "Ron Paul Conservatives" (who have tremendous credibility but not as much popularity).
It's potentially a disaster for the left to have the two factions of the "Right Wing" converge. Especially when it focuses the "backward right" on a historically, intellectually, and scientifically defensible agenda for a change.
Bad news for the Pinkies...
As I said on this site back in late 2006:
"I have no idea what's going to happen next year, but it's going to be a bloodbath."
Martingale, my thoughts exactly. Not like there aren't a lot of Countrywide loans that aren't seriously underwater!
My only guess was that there is a negotiation going on that is unfinished, and they won't join in the game here until they get their terms. Perhaps it's a dropping of all charges on the messy little Merrill Lynch bonus investigations.
Doodie i said at the end of 2007 after i found this blog that the true Elephant in the room is a Populace armed to the brink...
That will make the difference to any other country..
I was being sarcastic. But they define it as no more than 31% of gross monthly income, and will make various modifications to get there.
And the DC kids get screwed again by the the administration..... no more vouchers.....
so the performers end up back in the underperforming schools
yours in crisis,
Doodie
"That just confirms that the GOP has gone insane"
Less insane than the course of the Federal gov't.
And yes, predictable.
See U.S.S.R circa 1991 for example.
Some of youse guys sound like Bernanke, stuck in an old paradigm, unable to visualize anything except the status quo.
"Adapt or die". heh heh heh.
SINGAPORE (Reuters) - Crude prices rose by more than $1 a barrel on Thursday after Wall Street rallied overnight on signs that the recession in U.S., the world's top energy user, might be abating.
It seems to me that this kind of market behavior is why Tsy and Fed have a (reasonable) chance of gaming the system: when everyone piles in because of a few nice comments from Tsy/Fed/Banks then you can get a nice rally and then momentum traders take it up further.
Adding to the "recession will end when..." comments:
Did the bull market ever (really) end? Or did just get a "cramdown"? It seems that a fair number of people are poised to pounce at the slightest sign of a bottom. You know you're in a bear market when the market *falls* on good news as well as fantasy.
Is the 9.9 billion an outright grant to the banks, or is a loan that has to be paid back to the treasury?
Bond Girl,
Maybe DC will authorize the n]banks to give the troubled homeowners cash to add to their gross income line to meet the 31 % number.... we havent tried that on yet....yet
yours in crisis,
Doodie
Not news.
Just an announcement that government is a work when it hasn't done anything. These are the first six banks to finish the paperwork to join the program. The cash mentioned is the maximum they could get if they could find enough bums to modify -- I mean homeowners to rescue. They still need to identify, negotiate, appraise, and apply before any money changes hands, say in two to three months. This is labour intensive.
i started planting veggies dont believe in bull(market) ))))
Dearest new system,
how may I game thee...
Perhaps my wife or I should "lose a job", so that our mortgage payment no longer fits within the bounds of our (double) income, in order to qualify for the federal program? If you subtract off the marginal taxes on the second income, and compare what's left with what we might save in a mortgage adjustment, the second salary might not even be worth it... Now multiply by about 20 million...
"Adapt or die"
Cultural auto-toxicity.
8 Ball wrote on Wed, 04/15/2009 - 7:09pm.
.....Obama telling all of them to go **** themselves.
There are a lot of us out there who did not attend today's rally but are otherwise seething at the bailouts and goobermint deficits. Obama has a very short period of time to get this under control.
Then again, me and my friends just may be in the minority.
Agree with you. And, I don't think you're in the minority. 4-5 thousand turned out in OKC.
btw, is it coincidence The french rulers and the czar in russia didnt see the Revolution coming??? after watching the last 2 years i say not really, rulers push till the collapse, there are "Alpha"after all..
"That just confirms that the GOP has gone insane".
Actually, they've gone sane for the first time in maybe 40 years or so... but only because they smell profit in it.
Hey, maybe if we all pray real hard to Cthulhu tonight Ron Paul will wake up as a 6-foot-5 young good-looking guy with a deep masculine voice.
Then the smart people will get to rule the world for a change...
http://www.bloomberg.com/apps/news?pid=20601087&sid=aIlW3KeVLqW0&refer=home
April 15 (Bloomberg) -- U.S. Treasury Secretary Timothy Geithner refrained from labeling China as a currency manipulator, backtracking from an assertion he made during his confirmation hearings in January.
In its first semiannual report on foreign-exchange policies since Geithner became secretary, the Treasury said that while the yuan remains "undervalued," no country "met the standards" for illegal currency manipulation during the period of the report, from July 2008 through December 2008.
We must really be screwed.
ac,
"we all pray real hard to Cthulhu .."
What is the guy with the eye patch that blows funky glass sculptures gonna do about this????
wink....
yours in crisis,
Doodie
Fiduciary Doodie (member) wrote on Wed, 04/15/2009 - 7:20pm.
i really think folks are going nuts now.... and it will be worse as the economy gets worse..
I mean like todays tea parties... decried by those on the left and claimed (fair or unfair) that financed by lobbyists and corporations and decried by the MSM
yet the last 8 years George Soros funded Move on and organized a movement and protests and it was OK..
And vice versa...
if you didnt vote for Obama it was wrong because you didnt vote for him because he was black
but it was OK to vote for Obama because he was black..
I dont think people see the hypocrisy in themselves anymore....
+10. Thank you. What you have said is so clearly true, but it will likely cause several on this board to blow a gasket.
Timmy should have said "we need the Chinese to manipulate, so shut up Congress"
"Homeowners, meanwhile, will get up to $1,000 a year for five years if they keep up with payments."
..........People like me that paid off their places obviously won't be late with our house payments either. Wanna know something? I wouldn't take the damned $5K if they said I HAD TO TAKE IT! This FedGov is a disgrace. Go Ron Perry & Ron Paul - make some noise & make some nervous.
"....no more vouchers.....so the performers end up back in the underperforming schools"
.......what's good for the Obama girls is good for any other........wait........nevermind.
- - - - -
Black 
Ranch
ac,
"we all pray real hard to Cthulhu .."
What is the guy with the eye patch that blows funky glass sculptures gonna do about this????
wink....
yours in crisis,
Doodie
I've been lobbying very hard for what I think is the solution to the recent piracy problem:
We need an international law that makes all piracy punishable by death... unless the only weapons used are swords and at least one crew member is wearing an eye patch and peg leg, in which case it is perfectly legal.
"We must really be screwed"
-----------
It sure looks to me like the Executive office and probably most of Congress are working for the Chinese now instead of Americans. Look on the bright side. If Texas secedes, it probably sets off a chain reaction which wipes out Jas's retirement.
Run, Jas.
Run!
I wonder if Turbo Tax Timmy got his taxes done right and filed on time today?
ac how cruel, where should wall street bankers get there mojo from with a wooden leg and a eyepatch???
Guest1,
I dont know. There have always been some lurkers that try and instigate. but most of us all respect opinions.
I never cared much for the folks on the right that could find no good at all in clinton or no faulty in bush, nor much use for those on the left that found no wrong in clinton and no good in bush....
i listen to neither. and 16 years of bullshi* like this from both sides has out lied its usefulness.
Tonight flipping through the news i saw a reporter from the washington times give kudos to our president for his actions on the pirate fiasco... many thought no praise would come from a times reporter...cynics will say of course because it involved violence....both demeaning to the call he had to make. One can disagree with a president on an issue and support him on one.... this is the only way to be loyal to yourself.
I am a social liberal, more libertarian, yet a fiscal conservative, and when it comes to federal support in believe in minimazation. kinda a speak when spoken to....
DC has gotten too big, both parties.....hell even the anticapitalists movement is well funded, you can make a living as a IMF/WB protestor for gods sake...
yours in crisis,
Doodie
Any attempt to further subsidize housing will fail.
Market will return to sanity.
BSR,
The Obama girls school is one that the DC kids could go to on the voucher program... unfortunatly many kids will not be back next year to bring the diversity of smart and poor and black to the student body..
though i try and keep the O kids out of the discourse
yours in crisis,
Doodie
I'm getting sick of this corporate welfare. Send the money to the people.
The 50 Most Brilliant Atheists of All Time
http://bit.ly/mAHJZ
Quite a diverse list of people.
night all ,
i need to be fresh to make enough to pay for my share of tomorrows unveiled programs.....
ps did anyone realize that all senetor stevens pork was left in the bill and the other senetors name was placed beside them, without her objection...lol
yours in crisis,
Doodie
Fiduciary Doodie (member) wrote on Wed, 04/15/2009 - 7:48pm.
Well stated.
ac how cruel, where should wall street bankers get there mojo from with a wooden leg and a eyepatch???
BTW, for anybody who hasn't heard it, I present the the "Best Bartender Joke Ever":
A pirate walks into a bar with his (*cough*) member hanging out and a "navigational instrument" on the end.
He asks the bartender for a drink, who exclaims in shock:
"My God, do you know have a steering wheel on your dick!"
To which the pirate responds:
"YARRRRR!!! It's drivin' me nuts!!!!"
Seems to be a lot of post tea bagging depression tonight.
Unfortunately the Obama girls are the point as the Elite buy privilege that vouchers gave competition and a sense of equality. Obama not sending his kids to a public school is condemnation of public eduction failure. Obama is in the teachers unions pocket.
If every loan gets modified, this is end-game. There will be no more inventory, since almost all have been foreclosures and short sales. That's it.
....the schools in DC are a disgrace. The House & Senate ought to be ashamed. That's a perfect example of the core of the problem.
- - - - -
Black Ranch
km4,
most of these are agnostic at best. also understand the diffence between intelligent and smart. A smart person, when crossing the street and seeing a bus headed at them jumps back on the curb, an intelligent person looks both ways before crossing. there is a difference.
Brilliant doesnt make you intelligent or smart.... hiltler was brilliant, though extremely misguided. someone truly brilliant in mind would hedge their bet by admiting that there is no harm in willing to say a god exists...if a god doesnt, yet understands that if one does and they dont, then they are most likely screwed.
yours in crisis,
Doodie
Elizabeth Warren is guest on Jon Stewart
In front of every home will be a huge sign that says:
"Progress as Promised"
Another home saved with your tax money!
The United States of America Ministry of Banks
President Geithner
Vice President Obama
thx bond girl, i love her....
yours in crisis,
Doodie
For those wondering where BAC is, the answer is that the countryfried side has been so aggressive on working down principals that uncertain markets they're turning away business.
Notice of Defaults are rising quickly in California, unless something major is done about secondary loans and high debt loads the mortgage modifications won't mean much. Throw in the recession and modifications don't change the game much for this state.
comrade alexi,
i didnt think coutry fried could get their principals any lower..
thanks ill be here all week...
yours in crisis,
Doodie
someone truly brilliant in mind would hedge their bet by admiting that there is no harm in willing to say a god exists
Unfortunate that there are so many vindictive deities with exclusive claims out there.
engorged,
hedge yourself by using god in the generic sense..maybe they will think you mean them.....
yours in crisis,
Doodie
engorged,
the seatbelt theory, we all do it but rarely get in accidents, a true atheist wouldnt wear one i assume
now that we have discussed politics and religon, we left out abortion...
yours in crisis,
Doodie
Ah yes, Pascal's vague platitude.
engorged,
somthin like that (wink)
yours in crisis,
Doodie
How do I get piece of this action? Do I buy a house with mortgage payments of 40% or more of my gross then ask for a workout?
Rick Perry might have a point.
Hook 'em!
"Obama is in the teachers unions pocket."
----------------
Why would he bother?
It's already been picked!
someone truly brilliant in mind would hedge their bet
Thank you for that; I've often wondered what the truly brilliant do. I guess a Credit Default Swap with the Devil is out of the question?
bondgirl,
wow so john stewart s against the treasury and bailouts..... well this wont end up well for the 35 and under crowd that leans left......he does have power.. i see an apointment in his future...ambassador to sweden.....
yours in crisis,
Doodie
Neighbor called out to me this AM as she passed the house and stated that she's wearing a tea bag pinned to her dress with the phrase "God Bless America" pinned to it.
these protests are a lovely concept, but I see no value in them. Kinda like political masturbation. Goes well with the financial masturbation we've had for the past 15 years or so.
Reality is that the Crown took note of the Boston Party since it had significant financial impact upon one of the key constituents. So until someone actually takes a serious swipe at the monied interests and renders an impact, just another nothingburger.
I miss Banker.
BTW, my neighbor is a realtor. Sheesh...
homedad43
sdtfs,
i dont know who is holding the default? you or the devil?
yours in crisis,
Doodie
"I guess a Credit Default Swap with the Devil is out of the question?"
----------
No, but you'll have to depend on Bernanke to bail you out.
homedads give her a break, she may have taken to the bottle.....
yours in crisis,
Doodie
broward,
nope not Ben, the hot thermals in hell screw up a helecopters lift
yours in crisis,
Doodie
"I see no value in them. Kinda like political masturbation"
-------------------
Then you're doing it wrong, Homedad.
Hey, I made a four-ball bank shot today.
It was awesome!
I'm off to Lady's night and more pool (one of you guys *really* needs to buckle down someday and replace my tax payments).
Reality is that the Crown took note of the Boston Party since it had significant financial impact upon one of the key constituents.
Was that the Dawes Tomes Mousley Grubbs Fidelity Fiduciary Bank ? The movie I saw said that there was a run on the bank because of that. It was a supercalifragilisticexpialidocious movie!
+1 sdtfs
yours in crisis,
Doodie
Is the 9.9B a grant or loan to the banks?
Dammit.. I don't see why the govt. shouldn't just pay my mortgage ! I pay my taxes, they should pay my mortgage !
Jon Stewart's interview of Elizabeth Warren tonite was a classic. Got to love that Lady. Watch the reruns if you get a chance.
This made me blow chunks: "Fiduciary Doodie"
That said - welfare and helping those who made bad decisions...Darwin would shun this!
Guest1:
"I have one thing to say: you're an idiot."
April 15 (Bloomberg) -- U.S. Treasury Secretary Timothy Geithner refrained from labeling China as a currency manipulator, backtracking from an assertion he made during his confirmation hearings in January
alybaba
Timmay is busy teabaging as many Chinese as his tounge will allow....he does not like the exercise but it is his duty to keep the money flowing..."Oh Timmay Mr. Hou has paid he will see you in Room 134 now.."
This made me blow chunks: "Fiduciary Doodie"
The heady mix of puke and shit seems apropos.
I was a little unimpressed, however, that she could not initially explain the acronym PPIP. Perhaps she was just playing the crowd.
It is nice to see people staying on the administration about transparency. I bet the stress test results will have less real information than Valerie Plame's book though.
The really hopeless thing about how the administration is intent about "solving" this debt crisis really solves absolutely nothing. To solve, the debts need to be wiped out so a recovery can start. The current faux solution merely transfers the debt, and super-concentrates it in the most vulnerable spot, reversing exactly what Greenspan said was so beneficial, spreading the risk.
How convenient to have as a goal the exact opposite from what fueled the last bull market, and better yet, convince the born and bred dopes it'll drive the next bull market!
Jas is right.
The really hopeless thing about how the administration is intent about "solving" this debt crisis really solves absolutely nothing. To solve, the debts need to be wiped out so a recovery can start. The current faux solution merely transfers the debt, and super-concentrates it in the most vulnerable spot, reversing exactly what Greenspan said was so beneficial, spreading the risk.
How convenient to have as a goal the exact opposite from what fueled the last bull market, and better yet, convince the born and bred dopes it'll drive the next bull market!
Jas is right.
Ron Paul Supporters Responsible for Tax Tea Party Protest Origins
http://www.youtube.com/watch?v=-80gi2MZ530
--------------------------------------------------------------------------
Learn the 7TH Amendment maggot! That's how you restrain the government.
Red Beckman - Fully Informed Jury
http://video.google.com/videoplay?docid=7385583011526915030&hl=en
I am going long teabagz.
My only expectation from policy makers is that the shit like the rest of us. Other than that, these freaks might do just about anything. May they suffer before they die.
couldnt you identify where the teabaggers stand by looking at the tea they use??? Ron paul dudes would be "earl grey"
as example..
Homedad,
That is rich irony. I didnt do this protest thing either. Cause it doesnt have an objective. More like pitching a fit than picking a fight. And we need the latter.
CR
I try to only post and link to my blog when I have information that is on topic. Tonight I am breaking my rule because I think the information justifies it. If you disagree, of course I will understand if you delete this post....
Please do not consider me as a trader or stock market predictor….
I just want the TRUTH to get to everyone and if I find information that can help you I want to share it.
With that said, I highly recommend you read tonight's post on my blog
http://4best4worst.wordpress.com/
with the key story:
WATCH OUT THIS WEEKEND
Even if you don't agree with the analysis you should know what the person who called the 1987 and 2007 market drops to THE DAY has to say…. If already posted I apologize….
Best to all….
Ron Paul Supporters Responsible for Tax Tea Party Protest Origins
"Hot stripper helps Star Wars fan lose virginity."
I'm not buying it... just sayin'
somewhat OT, but sadly, not really...
So, i need to buy stamps, and go to the towering federal building somewhat near me, in a major urban area...
lo and behold, the stamp machines are gone! i get in line... tax day! thirty minutes later, the woman explains to me that the machines weren't making money, so they had to go...
brilliant. the ghost of Reagan laughs.
HOG, GOOG, JPM... lots of mojo and short interest all set to explode tomorrow and the day ahead of opex juices volatility anyhow. Should be interesting.
Basel Too (member) wrote on Wed, 04/15/2009 - 6:53pm.
one of the quirks is that C is proceeding under the FDIC loan mod plan, per the terms of its exceptional assistance, while CitiMortgage (wholly owned subsidiary of C) is proceeding under the Obama plan.
i tried to explain that to a stressed out homeowner, but it didn't register...
Funny stuff. Even those of us not stressed out and not looking for a break somewhere don't necessarily understand the things that are going on.
I can see why the smart money piled into Obama towards the end of the race. Really quite canny. With his race, background and platform, the lumps are unable to perceive the looting that would have been starkly obvious when carried out by any other figure. Cognitive dissonance used as a weapon.
Tea parties took place in over 2300 locations around the country with no help in advertising from the left wing syndicated media that got BO elected president. Now how did that happen?
--------------------------------------------------------------------------
Learn the 7TH Amendment maggot! That's how you restrain the government.
Red Beckman - Fully Informed Jury
http://video.google.com/videoplay?docid=7385583011526915030&hl=en
The smart money piles into any duopoly.
So this is how it'll work huh?
Lets push the envelope,
As a bank, I can modify the loan, so that it's exactly 2%, and stretch it out, to 80 years. Since Americans don't really care about paying off the house, they won't care about the 80 year term, only the monthly payment. AFAIK,this is pretty much "perpetual payment" for the buyer -- as long as it's under 38% of the person's income; govt will pay me, *AND* the loan will get kicked down to 31% -- and the buyer gets $1000 per year for 5 years.
Crisis solved!
Someone explain to me the difference between buying and renting again?
I buy so that I can make payments forever?
I rent so that I make rent payment forever?
But I have equity as a buyer...Oh wait...
We so need financial education in high schools.
"the lumps are unable to perceive the looting"
a lump, by definition, is more inclined to loot than be looted, seeing as how the absolute lack of anything to loot is what makes them a lump.
Who cares about Tea Parties. The real revolutionaries shot some folks at some point. It was almost like the timing of the DHS "watch out for right-wing extremists!" report was timed perfectly to make sure people wouldn't step too far out of line. Why are Madoff, Bernanke, Geithner, Paulsen, etc. all still alive? If they are as truly crooked and as truly stealing from the American taxpayer, you'd think one taxpayer would get mad enough to exercise his 2nd amendment right to the full extent he believes in.
I couldn't believe what I heard regarding the Baton Rouge protest... you'd think someone smart would've promptly let all the air out of the tires and say, "sorry, can't move it... tires are flat!"
My savings are earning 0 percent and my taxes are going to go up to pay for the deadbeat next door.
Great.
I'm ready to do this again and again.
Do I have a choice? No. No problem.
hc, even more than financial education in high schools (which the U.S. certainly can use more of), we need future generations to be willing to live in the same house (as is done in other cultures) so they can pay off that 80 year mortgage (eventually).
Wait, so you can qualify for a home loan at 45% of monthly income but you only have to pay 31% if you win the lottery with Obama's plan? I just bought a house. Should I go right back and tell the bank I only want to pay 31% of monthly income and I would like a check made out to me and my wife for $1,000 every year?
Jon Stewart's interview of Elizabeth Warren tonite was a classic. Got to love that Lady. Watch the reruns if you get a chance.
Thanks for the headsup, Dirk. He doesn't come on here for a little over 90 minutes.
Six Banks to Receive up to $9.9 Billion [to modify 12 loans]
sportsfan,
Yeah, my thinking too. Home prices are not supported by permanently removing millions of people from the buying pool.
These people are idiots; they never think through the true consequences of their actions.
-----
"Hope for the best, prepare for the worst"
TJ, other than most of us when stepping off the curb, who does think of the consequences of their actions these days?
Even more importantly, who takes responsibility for the consequences of their actions?
Okay, just rhetorical questions.
"i really think folks are going nuts now.... and it will be worse as the economy gets worse..
I mean like todays tea parties... decried by those on the left and claimed (fair or unfair) that financed by lobbyists and corporations and decried by the MSM
yet the last 8 years George Soros funded Move on and organized a movement and protests and it was OK..
And vice versa...
if you didnt vote for Obama it was wrong because you didnt vote for him because he was black
but it was OK to vote for Obama because he was black..
I dont think people see the hypocrisy in themselves anymore...."
The response from the left is: Where the fuck were you guys for the last 8 years while we were screaming to keep our Constitution in tact, and where the fuck were you guys when Bush Jr. was spending us into oblivion with his stupid wars and tax cuts to the rich and the corporations?? The tea parties to us look like a hissy fit by the right because they lost, not because they've actually been paying attention to what's been happening.
Even more importantly, who takes responsibility for the consequences of their actions?
Yeah, you'd get laughed out of DC suggesting such heresy.
-----
"Hope for the best, prepare for the worst"
Anyone read Marc Faber? He is pretty disgusted with Obama. America is done, go ahead stick the fork in it and take it off the grill.
Michael, nobody likes paying taxes, but few complain about the government sponsored programs that benefit them. Here's a good explanation:
"Kooks, Demagogues, and Right-Wingers On Tax Day"
http://economistsview.typepad.com/economistsview/2009/04/kooks-demagogue...
traderwalt
"Obama is in the teachers unions pocket."
Not to pick on any special interest, but BHO was described as teachers unions, UAW and bankers' busboy on this board today.
That's a lot of tables, some quite apart.
"Tea parties took place in over 2300 locations around the country with no help in advertising from the left wing syndicated media that got BO elected president. Now how did that happen?"
With a lot of help from Dick Armey, Newt Gingrich, FOX, and about a half-dozen billionaire friends.
"These people are idiots"
not at all, just acting out of self-interest...
think of the mid-upper mgmt at a place like JPM - they're quite attached to those options priced at 20, thank you very much...
Anonymous, fair enough. But we are all losers now.
"i really think folks are going nuts now.... "
My kid went for a sleep over last week. A neighbor to the friend he stayed with went ballistic. Took his wife hostage and shot up the houses around his with some type of assault weapon. Over 50 bullets went into the adjacent homes. Turns out he was drunk and pissed because of his financial problems. The neighbors said he was a ncie outdoorsy type who had all kinds of boats, atvs, seadoos etc...
Thank God no one was hurt except him.
Engorged (member) wrote on Wed, 04/15/2009 - 8:09pm.
someone truly brilliant in mind would hedge their bet by admiting that there is no harm in willing to say a god exists
Unfortunate that there are so many vindictive deities with exclusive claims out there.
Your job, as an intelligent person, is to separate the real from the fake.
"some quite apart. "
but all united in their steadfast inability to create anything of tangible value or even to wipe their own asses outside of a massive, entrenched system *de-channels ayn rand*
TJ, since I wouldn't even get into DC in the first place, there's little chance I'd get laughed out of it. But then I'm used to people ignoring my advice right here in River City, aka Bubbleville.
BTW, unlike most commenters on this board, I remain a firm supporter of Obama (whether or not he would laugh at me).
The bottom line is this: there are very few people who, when yelling "Charge," could get me up and moving forward immediately. He happens to be one of those very few.
Is the attack destined to fail? I don't know. One never knows that during the immediacy of battle.
some 8 years ago I was working on a hush hush surveillance project for Dept of Health in NYC,
in order to get most of out 'clients' to take their medicine for say TB and the like we had to bribe
them with MikeyDee coupons...
Obviously I don't think bullets are the answer; but I do agree these protests seem kind've weak. My idea would be everyone gather at their Representatives private residence or office with 10 rolls of toilet paper and water and TP the heck out of it; every day of the week. This at least will cause them some inconvenience and some annoyance, and it does the least possible amount of damage... (I thought of eggs, but that's too much destruction). Why every Rep, even those against TARP?
Because even those against TARP have failed. We should demand every Rep against TARP and these shaddow bailouts, expansion of Federal Reserve authority and under-the-table bailouts and funneling of money to immediately remove themselves from the R and D caucus and obstruct every piece of legislation in Congress. This is the only way that we can make an impact with our representatives. Just shut down any agenda anyone had. Heck; this should've been done while Bush was still in office.
But those who voted against TARP should go beyond saying "I voted against the bill..." since I believe they all knew it would pass. Or Obama saying, "I'm as mad as anyone... "baloney Mr. President! If you were so mad you would investigate and look into what's going on and where the money is going; do we still not know hwere the 1st $350B went? (The Fox FOIA?).
Anyway, I like the protests and this is a good start but we need to get more constructive, and probably a bit more disruptive... tea party folk need to start getting other folk informed and understand what the problems are... not just "Socialism..." or "anti-tax". For some I know that was the point, but it should go beyond...
WSJ:
"China GDP Up Only 6.1%,
But Data Hint at Recovery"
China's GDP rose 6.1% in the first quarter, the worst in nearly two decades, but other data hint the downturn may have passed.
Record worst already, at the start of a steep and prolonged downturn., and this. Amazing.
You gotta love these guys, girls, etc.
HAL : I'm afraid. I'm afraid, Dave. Dave, my mind is going. (CHONG : Dave's not here.)
For anyone who wants the link to the tripe on WSJ :
http://online.wsj.com/article/SB123984767545423661.html#mod=testMod
HAL : I'm afraid. I'm afraid, Dave. Dave, my mind is going. (CHONG : Dave's not here.)
this is a good start
It's a start; let's see where it goes from here.
I remain a firm supporter of Obama
Well, let's see where he goes from here, too.
-----
"Hope for the best, prepare for the worst"
dCD - I reckon you recognize the contradiction there within...
HAL : I'm afraid. I'm afraid, Dave. Dave, my mind is going. (CHONG : Dave's not here.)
Anonymous wrote on Wed, 04/15/2009 - 9:37pm.
The response from the left is: Where the fuck were you guys for the last 8 years while we were screaming to keep our Constitution in tact, and where the fuck were you guys when Bush Jr. was spending us into oblivion with his stupid wars and tax cuts to the rich and the corporations?? The tea parties to us look like a hissy fit by the right because they lost, not because they've actually been paying attention to what's been happening.
Aren't you the poster child for stupid. Did you miss this sentence, "I dont think people see the hypocrisy in themselves anymore...."
Did you ever think that maybe people have just had so much now, that they are finally fed up? Why don't you look at reality here. BHO's three months of spending has made GW look like an 8 year cheapskate. And another thing, can't you left wing clowns ever get past GW? Yes, he's an idiot, and he's no longer the president. Your poster boy, BHO is the man in charge, and based upon his actions, he's a major screw-up.
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mp wrote on Wed, 04/15/2009 - 9:43pm.
"Tea parties took place in over 2300 locations around the country with no help in advertising from the left wing syndicated media that got BO elected president. Now how did that happen?"
With a lot of help from Dick Armey, Newt Gingrich, FOX, and about a half-dozen billionaire friends.
Yes, that would be nothing like MoveOn.org now would it. Maybe you would prefer that people just do nothing, and take it up the rear.
All people have the potential to become as God is. You just have to qualify to get in the club. Club members know qualified candidates when they see them. Others that don't make it in the club are either recycled or destroyed.
--------------------------------------------------------------------------
Learn the 7TH Amendment maggot! That's how you restrain the government.
Red Beckman - Fully Informed Jury
http://video.google.com/videoplay?docid=7385583011526915030&hl=en
And another thing, can't you left wing clowns ever get past GW? Yes, he's an idiot, and he's no longer the president.
For Guest1 and any other right wing clowns hanging out here, GW Bush was not just an idiot. He was and is a war criminal who caused the death of tens of thousands, perhaps over a hundred thousand people.
George W. Bush was a bigger mass murderer than Saddam Hussein. Face the facts.
BHO's three months of spending has made GW look like an 8 year cheapskate.
BULLSHIT. Bush wasted $5 trillion dollars while he destroyed America. Obama is trying to clean up the mess he left at twenty cents on the dollar.
Will you ever admit the truth or just lie for the rest of life like all the other right wing nuts do?
"Yes, that would be nothing like MoveOn.org now would it. Maybe you would prefer that people just do nothing, and take it up the rear."
You seem to forget that I'm not an ideologue, just a purveyor of facts. Frankly, I don't give a damn what MoveOn or Dick Armey are doing, just so long as what they're doing doesn't interfere with what I'm doing.
Maybe you would prefer that people just do nothing, and take it up the rear.
Guest1, you are beyond hope, much less reason.
Just don't tell me that this Tea Party business happened "spontaneously."
There isn't a goddamned thing that happens in this country spontaneously.
Nothing.
You really believe the "Republican Party" can organize these massive events everywhere? Some counties had 2 or 3 tea parties going on. The GOP certainly showed better organization skills for this spontaneous events than the last 2 elections! Amazing!
"I dont think people see the hypocrisy in themselves anymore...."
Pot meet kettle.
I know who the hypocrites are...and it's not sportsfan.
"Tea-Party", my ass. Spun by the MSM into some kind of April 15th holiday. Just waiting for the drink specials.
Is my copy of the Constitution a difficulty for you, traitors Ben Bernanke an Tim Geitner, PBO?
Kiss my--egalitarian, libertarian ass-- which believes that religion is not as dangerous to government as government is to religion, that Madison, not Lenin and Trotsky, was the political philosopher of the modern age, and that President Obama has a free will and better start using it soon or he will be right next to Hoover in the museums, assuming we still have them, and that there is a sleeping giant, and it is not China, but the people of America.
I want feathers. I want tar.
We are Americans. We are white, black, brown, red, male, female, straight, queer, and every combination thereof, and we are tired of being screwed.
You think that, just because you were born where you were, which means that you went to the schools that you attended, that you deserve something.
News for you. You will reap what you have sown.
So, it's time to start planting...and harvesting.
Every-damn effin' partisan pointing fingers at each other here is a hypocrite! Do people really think "Republicans" are all evil-gun-loving-Bible-thumpers-who want to convert every homosexual into a straight arrow as God intended? Do people really think that "Democrats" are folks who want to give all of the governments money to illegal-immigrants and act like limp-wrists in foreign affairs while taking everyone's gun's away?
Who or what wants us to believe that about each other? Let's all grab ahold and believe the stereo-type Mickey Mouse charicatures others build up for us...
Life and people are nuanced... unfortunately political parties aren't...
Well said Cliff.
--------------------------------------------------------------------------
Learn the 7TH Amendment maggot! That's how you restrain the government.
Red Beckman - Fully Informed Jury
http://video.google.com/videoplay?docid=7385583011526915030&hl=en
"You really believe the "Republican Party" can organize these massive events everywhere?"
Did I say that? No. The RNC is too screwed up to put it together.
The so-called conservative wing of the party put it together. They're a hell of a lot better organized. FreedomWorks did a lot of the legwork. FOX pumped it.
sportsfan, then that makes the entire Congress including Obama war criminals as well since they voted for the war and as in Obama's case did not impeach him. If they felt he was a murderer then they had an obligation to remove him.
Obama is a mass murderer because he supports the killing of unborn babies. So there. In fact he is much worse than George Bush since there are 1.3 million abortions a year in the United States. Maybe their souls are less human than those of the poor Iraqis who died?
See, any moron can use that kind of weak logic to spout off.
Grow up.
The abortion issue should not be a matter for the federal government to legislate one way or the other. It should be a matter of state rights, which it used to be many years ago.
I find it fascinating that so-called conservatives are using the same mechanisms the so-called liberals used to co-opt the federal legislative process to further their agenda.
I guess what's good for the goose is good for the gander.
And they do it shamelessly.
I am sorry mp, the lack of critical thinking and the irrational and often hateful diatribes in the blogosphere lately are driving me crazy. I suppose it is a symptom of the events going on, but society is definitely polarizing and genuinely good people are moving to the fringes with their comments.
GDD9000
having spent a few years over here inc. China I don't trust numbers that come out of Beijing, Hanoi, Phnom Penh at all... I go with Reagan on this, "trust but verify"...
as a former fixed income analyst in the late 80s at Solly (I followed the top 100 banks... ah yes, the days of Glass Steagall...) I also was required to do analysis on Japanese banks 6 of which were of the top 10 largest banks in the world... all AAA credits (Morgan Guaranty was our sole AAA) ... the problem was with their accounting system, they were able to hold non-performing loans off balance sheet, if memory serves... their system had nearly zero transparency... and you know how that played out! remember who bought the record purchase of that van Gogh for 88 million? or vastly overpaid for Bridgestone or Rock Center...
just sayin' ... I don't want to damn an entire race but there is a remarkable tendency to be secretive in business and in personal life in Asia...
to further elucidate I was attached to the communicable disease control unit... we had nearly 1 million 'clients' in our database for New York City...
understand that many of those were dupes since they were homeless and any information given in a clinic is strictly voluntary... what's your name,
perfectly ok to say Ronald McDonald, your age - whatever, etc.
there were about 92 diseases that by law if you test positive for the info most forwarded by the attending doctor, the lab, the clinic but those submissions
had little personal info attached if any... [ the area we did not cover was AIDS... that was the third rail and DOH spent years trying to determine
its use and how it would be fenced off)
the purpose of this pattern matching application was to build a profile of who you were... our goal was 92% accuracy. I could query all those
with herpes on Fifth Ave between 59th and 71st and get names and addresses.... I kid you not.
It was never implemented even though about 15 million was spent on it. Part of the problem was that Al Porco, exec. director and the late project manager Dave Wadlin
expanded its footprint to include maternity services and other depts. This pulled it into a nest of viperous bureaucratic infighting and it never recovered....
Also, the rank and file saw it as a way to reduce jobs, get rid of hundreds of people who didn't nothing more in a day than move a stack of papers from one side of the desk to the other. They were right.
Here is an example of your tax dollars at work. Say a patient is treated for TB and then goes into remission for a few years. And then one he stops his medicine and goes out of remission. One would think that they would just re-open his case. No. He would get an entirely new case number. In effect, he would be counted twice and get aid for both clients. This was done so that the TB numbers stayed high for funding purposes. I suspect that practice still goes on....
More good deals to reward the big banks for fucking up. So much for change BHO.
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