Zen-like Todd Posted March 6, 2008 Share Posted March 6, 2008 http://docs.google.com/TeamPresent?docid=ddp4zq7n_0cdjsr4fn&skipauth=true&pli=1 "It's gold Jerry, gold!" Link to comment Share on other sites More sharing options...
chomerics Posted March 6, 2008 Share Posted March 6, 2008 MY GOD, it is gold!!! That is comedic genius right there. . .and if it were only comedy it would be even more funny, unfortunately that is basically the gist of what happened with nobody paying the price but the taxpayers. Link to comment Share on other sites More sharing options...
Fergasun Posted March 6, 2008 Share Posted March 6, 2008 Wasn't this posted about a month ago? BTW the problem has been beyond subprime for maybe a year now. So basically it's "the handy dandy mortgage primer (circa 2001-2007)". People are screwed but I'm pretty happy since it means I can own a decent sized house... Link to comment Share on other sites More sharing options...
Fergasun Posted March 6, 2008 Share Posted March 6, 2008 Time to start learning about cross-cascading defaults... our economy is like the Titanic... Link to comment Share on other sites More sharing options...
Fergasun Posted March 6, 2008 Share Posted March 6, 2008 While I'm spamming this thread... wonder why we didn't create a thread on the Fed's comments yesterday that bank's should... "Just reduce the loan amount..." for people having trouble paying their loans. Hah! They can all crash and burn the way they've run this country to hell (I'm talking about the greedy bankers, brokers, and everyone else who got us into this mess). I swear, buying a home in the past 4 years is like being infected with a flesh eating virus. Link to comment Share on other sites More sharing options...
GibbsFactor Posted March 6, 2008 Share Posted March 6, 2008 People have no idea what will happen if the banks are forced to reduce the amount of loans or honor arms for longer time frames. It's a shame that we can't just be big enough to say we screwed up and have to pay the piper. Link to comment Share on other sites More sharing options...
Enter Apotheosis Posted March 6, 2008 Share Posted March 6, 2008 Wasn't this posted about a month ago? Yep. Link to comment Share on other sites More sharing options...
RonBurgundy&Gold Posted March 6, 2008 Share Posted March 6, 2008 While I'm spamming this thread... wonder why we didn't create a thread on the Fed's comments yesterday that bank's should... "Just reduce the loan amount..." for people having trouble paying their loans. So this is where these folks were coming from today with the "no I don't want my loan modified, I need you to reduce my principal balance to keep my house" and I would simply reply "Excuse me? I'm sorry but to my knowledge there is no such program." Unreal. Link to comment Share on other sites More sharing options...
RonBurgundy&Gold Posted March 6, 2008 Share Posted March 6, 2008 People have no idea what will happen if the banks are forced to reduce the amount of loans or honor arms for longer time frames. It's a shame that we can't just be big enough to say we screwed up and have to pay the piper. They are already honoring arms for longer time frames. Its actually been a big help in just a short amount of time. However I would imagine reducing the loan amounts would be a disaster. Link to comment Share on other sites More sharing options...
RonJeremy Posted March 6, 2008 Share Posted March 6, 2008 So this is where these folks were coming from today with the "no I don't want my loan modified, I need you to reduce my principal balance to keep my house" and I would simply reply "Excuse me? I'm sorry but to my knowledge there is no such program."Unreal. Here you go...Bernanke at his finest... http://www.bloomberg.com/apps/news?pid=20601109&sid=aV6kqOuYFc5E&refer=news Link to comment Share on other sites More sharing options...
RonBurgundy&Gold Posted March 6, 2008 Share Posted March 6, 2008 Here you go...Bernanke at his finest...http://www.bloomberg.com/apps/news?pid=20601109&sid=aV6kqOuYFc5E&refer=news Yay, more work for me. More whiney babies getting handouts crying to me because its not getting done fast enough. Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted March 6, 2008 Share Posted March 6, 2008 Here you go...Bernanke at his finest...http://www.bloomberg.com/apps/news?pid=20601109&sid=aV6kqOuYFc5E&refer=news Holy smokes, helicopter Ben is off his rocker He may possibly be the worst Bush appointment :doh: Link to comment Share on other sites More sharing options...
Fergasun Posted March 6, 2008 Share Posted March 6, 2008 Helicopter Ben was just suggesting... you guys don't have to reduce their loans if you don't want to... Link to comment Share on other sites More sharing options...
Oldskool Posted March 6, 2008 Share Posted March 6, 2008 Why couldn't we have put Greenspan in the CloneOmatic 6000 instead of getting stuck with this dufus? Link to comment Share on other sites More sharing options...
Koolblue13 Posted March 6, 2008 Share Posted March 6, 2008 That was sadly funny. (the sticks, not Ben) Link to comment Share on other sites More sharing options...
Fergasun Posted March 6, 2008 Share Posted March 6, 2008 Oldskool, Greenspan caused this mess. We need Volcker to come back. Ben is an idiot for cutting rates so aggressively however... the fact that people on the Internet saw this coming for 3 years now doesn't speak well to the higher-ups who want to say... "We never saw this happening" or "who could've known". It's funny the banks are getting hosed because people have figured out they can just walk away... I mean when you pay no money down there's no loss there... Link to comment Share on other sites More sharing options...
isle-hawg Posted March 7, 2008 Share Posted March 7, 2008 Who is WE? I didn't lend out loans to people who could not pay them back, sucker someone in with a teaser interest rate, nor did I take out a loan I could not afford to pay back. **** um, they gambled and lost. Maybe with the potential fall out I will be able to trade up a bigger house that I can afford? Link to comment Share on other sites More sharing options...
isle-hawg Posted March 7, 2008 Share Posted March 7, 2008 Greenspan caused this mess. Did Greenspan put a gun to the lender or lendee's head to give out or take this loan?:doh: How about some personal resposibility on those who did? Could they perhaps be fault? Link to comment Share on other sites More sharing options...
Prosperity Posted March 7, 2008 Share Posted March 7, 2008 wow, even I understood that... kind of the lesson to get from all this is that a lot of people are ****ed and a lot of people ****ed up Link to comment Share on other sites More sharing options...
JohnLockesGhost Posted March 10, 2008 Share Posted March 10, 2008 A cartoon offering a very accurate explanation of the current sub-prime mortgage mess. Some bad language: http://docs.google.com/TeamPresent?docid=ddp4zq7n_0cdjsr4fn&skipauth=true&pli=1 Link to comment Share on other sites More sharing options...
JohnLockesGhost Posted March 11, 2008 Share Posted March 11, 2008 http://www.youtube.com/watch?v=SJ_qK4g6ntM Link to comment Share on other sites More sharing options...
laurent Posted March 11, 2008 Share Posted March 11, 2008 People have no idea what will happen if the banks are forced to reduce the amount of loans or honor arms for longer time frames. It's a shame that we can't just be big enough to say we screwed up and have to pay the piper. Well we could. Just have the Federal Reserve print more money, voila! Link to comment Share on other sites More sharing options...
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