[Talladega900]

it was more the idiot banks giving people who make 50k a year a mortgage on a million dollar house. which at $3500 a month payment took up all their income. true story here in RI. numbers came out last week that to own a medium priced/sized home a family needed to pull in 80k a year, and the average pull was 50k per family....yet these people were getting mortgages.

Yep. Basically what I said. It's a shell game playing with interest and principal. And the people making the loans are basically nothing more than glorified sales representitives of the banks. They are paid commission on loans just like sales.

If they are incented to make these loans based on their pay structure without any oversight (regulations) they will. It's human nature. (I'm in sales support -- sales engineering, I see that side ofi it all the time)

So I go back to: Lack of rules and regulation...

 

[Lendo]

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 )

Did Hobbes purchase any?

 

[VI009DZ]

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.....

 

[Deek]

Did Hobbes purchase any?

All profit will go towards an upgrade in cat food and one of those cat jungle gyms.

 

[aireeca]

Amen to that. Why bail out the idiots making bad mortgage loans? Any more than why should we help the morons applying for them?

I know I posted in another thread about hanging out with a mortgage cowboy at the height of the madness. I'd love to find some of those people today and find out just what they think of the whole situation. Because, yes, large investors were willing to take on sketchy debt but someone had to originate said sketchy debt.

 

[guru]

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.

 

[Castor Troy]

good times ali

 

[aireeca]

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.

Make sure you have the stroke on overtime, not straight time.

 

[97civicexvtec]

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.....

I think the bailout being denied shows that we are not dependent on the federal government. They economy will straighten itself out in time.

 

[saabkid37]

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?

 

[saabkid37]

I think the bailout being denied shows that we are not dependent on the federal government. They economy will straighten itself out in time.

no...were still dependent.

 

[aireeca]

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.

 

[soccerrplyr]

I lost 10,000 in my stock portfolio today that I've spent the last 5 years building.. No joke

 

[Castor Troy]

I lost 10,000 in my stock portfolio today that I've spent the last 5 years building.. No joke

it'll buff out

 

[guru]

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.

 

[Topher]

I lost 10,000 in my stock portfolio today that I've spent the last 5 years building.. No joke

It will bounce back. If you have that much in stock, you know that it is a long term investment...

 

[soccerrplyr]

yeah, just went from 25 to 14k

 

[guru]

Wow. Eggs in one basket?

 

[Topher]

yeah, just went from 25 to 14k

Ok...

And like I said, you know it will bounce back. You look at the performance of stocks over a period of time.

Yeah today you are "poorer" but over a period of time you will net out fine.

Also what did you "lose?" Did you invest 25k? Or had it grown to 25k. What was your loss relative to your initial investment?

 

[Hiker]

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.