Home › Forums › Financial Markets/Economics › Rich in the NYTimes with Shiff and PIMCO
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greekfire.
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October 31, 2008 at 1:53 AM #14331October 31, 2008 at 4:29 AM #295579
pemeliza
ParticipantSay it isn’t so Joe also don’t you know wink nod wink
” The borrower, who lives in suburban Los Angeles, took nearly $200,000 in cash out of his house and then paid less than the monthly interest due on his new loan.
He now owes about $350,000 on a house that is worth only $150,000. He asked not to be identified for fear he would not get a modification, which could reduce his mortgage to $142,500.”
October 31, 2008 at 4:29 AM #295917ParticipantSay it isn’t so Joe also don’t you know wink nod wink
” The borrower, who lives in suburban Los Angeles, took nearly $200,000 in cash out of his house and then paid less than the monthly interest due on his new loan.
He now owes about $350,000 on a house that is worth only $150,000. He asked not to be identified for fear he would not get a modification, which could reduce his mortgage to $142,500.”
October 31, 2008 at 4:29 AM #295938ParticipantSay it isn’t so Joe also don’t you know wink nod wink
” The borrower, who lives in suburban Los Angeles, took nearly $200,000 in cash out of his house and then paid less than the monthly interest due on his new loan.
He now owes about $350,000 on a house that is worth only $150,000. He asked not to be identified for fear he would not get a modification, which could reduce his mortgage to $142,500.”
October 31, 2008 at 4:29 AM #295950ParticipantSay it isn’t so Joe also don’t you know wink nod wink
” The borrower, who lives in suburban Los Angeles, took nearly $200,000 in cash out of his house and then paid less than the monthly interest due on his new loan.
He now owes about $350,000 on a house that is worth only $150,000. He asked not to be identified for fear he would not get a modification, which could reduce his mortgage to $142,500.”
October 31, 2008 at 4:29 AM #295991ParticipantSay it isn’t so Joe also don’t you know wink nod wink
” The borrower, who lives in suburban Los Angeles, took nearly $200,000 in cash out of his house and then paid less than the monthly interest due on his new loan.
He now owes about $350,000 on a house that is worth only $150,000. He asked not to be identified for fear he would not get a modification, which could reduce his mortgage to $142,500.”
October 31, 2008 at 10:03 AM #295654XBoxBoy
ParticipantBuried in this article is a quote that so clearly shows why we are screwed. It’s from a bureaucrat named Michael H. Krimminger, who is an advisor on policy at the FDIC.
[quote]“This is not about trying to create fairness, The goal is to keep people in their houses.”[/quote]
And there you have it in a nutshell. Forget fairness folks, let keep people in houses. What is this insanity? Isn’t the whole foundation of our American system supposed to be based on fairness? Have we completely forgotten what makes it possible for us to interact in a society? How can someone in such a position be so incredibly clueless?
XBoxBoy
October 31, 2008 at 10:03 AM #296066ParticipantBuried in this article is a quote that so clearly shows why we are screwed. It’s from a bureaucrat named Michael H. Krimminger, who is an advisor on policy at the FDIC.
[quote]“This is not about trying to create fairness, The goal is to keep people in their houses.”[/quote]
And there you have it in a nutshell. Forget fairness folks, let keep people in houses. What is this insanity? Isn’t the whole foundation of our American system supposed to be based on fairness? Have we completely forgotten what makes it possible for us to interact in a society? How can someone in such a position be so incredibly clueless?
XBoxBoy
October 31, 2008 at 10:03 AM #296025ParticipantBuried in this article is a quote that so clearly shows why we are screwed. It’s from a bureaucrat named Michael H. Krimminger, who is an advisor on policy at the FDIC.
[quote]“This is not about trying to create fairness, The goal is to keep people in their houses.”[/quote]
And there you have it in a nutshell. Forget fairness folks, let keep people in houses. What is this insanity? Isn’t the whole foundation of our American system supposed to be based on fairness? Have we completely forgotten what makes it possible for us to interact in a society? How can someone in such a position be so incredibly clueless?
XBoxBoy
October 31, 2008 at 10:03 AM #296013ParticipantBuried in this article is a quote that so clearly shows why we are screwed. It’s from a bureaucrat named Michael H. Krimminger, who is an advisor on policy at the FDIC.
[quote]“This is not about trying to create fairness, The goal is to keep people in their houses.”[/quote]
And there you have it in a nutshell. Forget fairness folks, let keep people in houses. What is this insanity? Isn’t the whole foundation of our American system supposed to be based on fairness? Have we completely forgotten what makes it possible for us to interact in a society? How can someone in such a position be so incredibly clueless?
XBoxBoy
October 31, 2008 at 10:03 AM #295992ParticipantBuried in this article is a quote that so clearly shows why we are screwed. It’s from a bureaucrat named Michael H. Krimminger, who is an advisor on policy at the FDIC.
[quote]“This is not about trying to create fairness, The goal is to keep people in their houses.”[/quote]
And there you have it in a nutshell. Forget fairness folks, let keep people in houses. What is this insanity? Isn’t the whole foundation of our American system supposed to be based on fairness? Have we completely forgotten what makes it possible for us to interact in a society? How can someone in such a position be so incredibly clueless?
XBoxBoy
October 31, 2008 at 10:16 AM #296071cr
ParticipantI love now that newspaper sales are way down they decide it’s time to start acknowledging people like Rich in blogville who they laughingly dismissed as chicken little’s and bitter renters just 2 years ago.
I can only hope anyone making comments like Krimminger do so purely for rhetoric, and don’t actually think that will happen.
Anyone with a brain realizes that’s not a solution.
October 31, 2008 at 10:16 AM #296030ParticipantI love now that newspaper sales are way down they decide it’s time to start acknowledging people like Rich in blogville who they laughingly dismissed as chicken little’s and bitter renters just 2 years ago.
I can only hope anyone making comments like Krimminger do so purely for rhetoric, and don’t actually think that will happen.
Anyone with a brain realizes that’s not a solution.
October 31, 2008 at 10:16 AM #296018ParticipantI love now that newspaper sales are way down they decide it’s time to start acknowledging people like Rich in blogville who they laughingly dismissed as chicken little’s and bitter renters just 2 years ago.
I can only hope anyone making comments like Krimminger do so purely for rhetoric, and don’t actually think that will happen.
Anyone with a brain realizes that’s not a solution.
October 31, 2008 at 10:16 AM #295997ParticipantI love now that newspaper sales are way down they decide it’s time to start acknowledging people like Rich in blogville who they laughingly dismissed as chicken little’s and bitter renters just 2 years ago.
I can only hope anyone making comments like Krimminger do so purely for rhetoric, and don’t actually think that will happen.
Anyone with a brain realizes that’s not a solution.
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