discuss.
97civicexvtec
Good it is the correct decision, and yes I am taking a big hit in investments.
But I would rather see a 1500 point drop than give the goverment more control.
But I would rather see a 1500 point drop than give the goverment more control.
Im interested in seeing what happens next. I took all of my investments out of stocks about 6 months ago. 
Well, I just listened to Harry Reid and Nancy Pelosi. Apparently this is all John McCain's fault. That's probably accurate and all you need to know.
Some day a bill will be passed containing enough pork for the expenditure of a large crane to extract Nancy Pelosi's head from her rectum.
Nancy Pelosi is.... off-putting? I think that works.
In other news I bought 100 shares of Wachovia today. I figure a $180 investment is worth it, especially since Citi should turn them around. (And if I lose that, I guess I just won't drink for a few days )
In other news I bought 100 shares of Wachovia today. I figure a $180 investment is worth it, especially since Citi should turn them around. (And if I lose that, I guess I just won't drink for a few days
)
This bailout in my eyes, was just another step closer to the crash of our country. Lifecycle of a decomcracy below.
from bondage to spiritual faith
from spiritual faith to great courage
from courage to liberty
from liberty to abundance
from abundance to selfishness
from selfishness to complacency
from complacency to apathy
from apathy to dependency
from dependency back to bondage
When you're dependant on something as fucked up as our federal government, you're in BIG trouble.....
from bondage to spiritual faith
from spiritual faith to great courage
from courage to liberty
from liberty to abundance
from abundance to selfishness
from selfishness to complacency
from complacency to apathy
from apathy to dependency
from dependency back to bondage
When you're dependant on something as fucked up as our federal government, you're in BIG trouble.....
It's really fun working at an investment firm right now.
I have 78 calls holding for my group.
I scheduled myself for a massive stroke at 5:30, but I don't know if taht'll happen.
it's been nice knowing you guys.
I have 78 calls holding for my group.
I scheduled myself for a massive stroke at 5:30, but I don't know if taht'll happen.
it's been nice knowing you guys.
how bout with perfect credit (yes im not lying i have an 798 credit rating) my 2 year old card just got brought down from $2500 limit to $1500, and citi just appreoved me for my new 0% one at a whopping $1000 limit.
why are they still even giving out credit cards?
why are they still even giving out credit cards?
I think there are a lot of options that American homeowners and potential homebuyers have yet to investigate that reduce dependency on the ever-disappearing commercial credit and banking system.
I can't find it at the moment, but, last year, CBC radio ran an interesting piece on condoing out multifamily existing homes in older neighborhoods around Toronto that's an easily portable idea to the United States.
I can't find it at the moment, but, last year, CBC radio ran an interesting piece on condoing out multifamily existing homes in older neighborhoods around Toronto that's an easily portable idea to the United States.
No stroke yet, but I got here at 8:30 this morning and skipped lunch due to volumes so right now my customers are getting a tasty word salad from me.
Good points. Don't worry about the daily ups and downs. With time, today will seem like a bad day and in perspective, there have been a lot of bad days and a lot of good days. Yeah, it's no fun seeing you paper gains get washed away in one day but as Topher said... it'll bounce back.
(posting from my lovely hotel room near the DFW airport. . .)
This is a buying opportunity. It may be five years before it pays off, but it's a buying opportunity.
This is a buying opportunity. It may be five years before it pays off, but it's a buying opportunity.
i started in 1996. with 10k.
rode the internet up to 25k in 1999.
saw it plummet to 7k in 2000.
rode it back up to 17k in 2005.
now worth 2k in 2008.
rode the internet up to 25k in 1999.
saw it plummet to 7k in 2000.
rode it back up to 17k in 2005.
now worth 2k in 2008.
LOLz!
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NYT - September 30, 1999
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market." ...
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.
Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.
--
in my opinion, we're screwed (you and me as individuals, not some remote generalized american). and that's all i will say since i'm sick of talking about this issue with everyone i know. wall st and main st need each other. without one, the other will fall.
--
NYT - September 30, 1999
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market." ...
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.
Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.
--
in my opinion, we're screwed (you and me as individuals, not some remote generalized american). and that's all i will say since i'm sick of talking about this issue with everyone i know. wall st and main st need each other. without one, the other will fall.
this may be of interest to you
http://dealbreaker.com/2008/09/live-blogging-the-treasury-cal.php#more
http://www.nakedcapitalism.com/2008/09/mussolini-style-corporatism-in-action.html
i haven't had a chance to really peruse those sites, but i've been picking up from wall st. journal readers/commenters that if you're interested in what's going on, the content here provides for a good read. an anti-bailout plan gist.
http://dealbreaker.com/2008/09/live-blogging-the-treasury-cal.php#more
http://www.nakedcapitalism.com/2008/09/mussolini-style-corporatism-in-action.html
i haven't had a chance to really peruse those sites, but i've been picking up from wall st. journal readers/commenters that if you're interested in what's going on, the content here provides for a good read. an anti-bailout plan gist.
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