Broker talk about the new Housing bill

[bubba99]

The new bill has little to do with housing at the individual borrower level, and everything to do with guaranteeing Fannie and Freddie’s 6 Trillion in bonds and second party guarantees.

Our lenders – China, France, Germany, Singapore et.al. hold in the neighborhood of 2 Trillion in bad Fannie/Freddie paper. As the underlying mortgages go bad, the mess becomes international in a big way – remember these two GSE’s are leveraged about 40 times – each dollar loss on a mortgage loses 40 dollars in bond equity. The bill just gave a blank check from the fed to inject whatever capital the GSE’s need to stay solvent. In fact, the treasury can buy common or preferred stock at their descretion to prop up these two boat anchors.

Congress just put you and me – the tax payers on the hook for potentially 5 trillion in bond guarantees. For a group that claims to be capitalists, they sure look like Lennon style socialists.

These idiots cannot really believe that this will maintain housing prices at double their economic value and save the bad mortgages from going under while america spirals down into a serious recession. God help us all

[temeculaguy]

esmith, you are right it’s 90% of market, not debt.
Padre, it’s not that i’m mad about it, I just read the fine print and realize that the headline doesn’t match the bill of goods. The hype will be that congress is saving people from foreclosure, keeping the market from falling and that’s all people will hear (there are more voting homeowners and fb’s than reverse flippers so it’s a wise move). Few are “saved” and rightfully so, most should not be saved, but like bubba pointed out, we just got sold a bipartisan bill of goods that has little to do with it’s headline. I smell BS, I also doubt the part about the percentages that fannie and freddie will even need the money. They are attempting to stop the invisible hand and it will slap them somehow, or probably it will slap you and me and we didn’t do anything.

It wont maintain anything and the debt will go higher, why do we have to bail out things that fail, why is darwinism so bad? The market will find a way without our tax money, let it. I haven’t had a drop of wine for a week, and just now I broke out one, I had to.

[temeculaguy]

esmith, you are right it’s 90% of market, not debt.
Padre, it’s not that i’m mad about it, I just read the fine print and realize that the headline doesn’t match the bill of goods. The hype will be that congress is saving people from foreclosure, keeping the market from falling and that’s all people will hear (there are more voting homeowners and fb’s than reverse flippers so it’s a wise move). Few are “saved” and rightfully so, most should not be saved, but like bubba pointed out, we just got sold a bipartisan bill of goods that has little to do with it’s headline. I smell BS, I also doubt the part about the percentages that fannie and freddie will even need the money. They are attempting to stop the invisible hand and it will slap them somehow, or probably it will slap you and me and we didn’t do anything.

It wont maintain anything and the debt will go higher, why do we have to bail out things that fail, why is darwinism so bad? The market will find a way without our tax money, let it. I haven’t had a drop of wine for a week, and just now I broke out one, I had to.

[temeculaguy]

esmith, you are right it’s 90% of market, not debt.
Padre, it’s not that i’m mad about it, I just read the fine print and realize that the headline doesn’t match the bill of goods. The hype will be that congress is saving people from foreclosure, keeping the market from falling and that’s all people will hear (there are more voting homeowners and fb’s than reverse flippers so it’s a wise move). Few are “saved” and rightfully so, most should not be saved, but like bubba pointed out, we just got sold a bipartisan bill of goods that has little to do with it’s headline. I smell BS, I also doubt the part about the percentages that fannie and freddie will even need the money. They are attempting to stop the invisible hand and it will slap them somehow, or probably it will slap you and me and we didn’t do anything.

It wont maintain anything and the debt will go higher, why do we have to bail out things that fail, why is darwinism so bad? The market will find a way without our tax money, let it. I haven’t had a drop of wine for a week, and just now I broke out one, I had to.

[temeculaguy]

esmith, you are right it’s 90% of market, not debt.
Padre, it’s not that i’m mad about it, I just read the fine print and realize that the headline doesn’t match the bill of goods. The hype will be that congress is saving people from foreclosure, keeping the market from falling and that’s all people will hear (there are more voting homeowners and fb’s than reverse flippers so it’s a wise move). Few are “saved” and rightfully so, most should not be saved, but like bubba pointed out, we just got sold a bipartisan bill of goods that has little to do with it’s headline. I smell BS, I also doubt the part about the percentages that fannie and freddie will even need the money. They are attempting to stop the invisible hand and it will slap them somehow, or probably it will slap you and me and we didn’t do anything.

It wont maintain anything and the debt will go higher, why do we have to bail out things that fail, why is darwinism so bad? The market will find a way without our tax money, let it. I haven’t had a drop of wine for a week, and just now I broke out one, I had to.

[temeculaguy]

esmith, you are right it’s 90% of market, not debt.
Padre, it’s not that i’m mad about it, I just read the fine print and realize that the headline doesn’t match the bill of goods. The hype will be that congress is saving people from foreclosure, keeping the market from falling and that’s all people will hear (there are more voting homeowners and fb’s than reverse flippers so it’s a wise move). Few are “saved” and rightfully so, most should not be saved, but like bubba pointed out, we just got sold a bipartisan bill of goods that has little to do with it’s headline. I smell BS, I also doubt the part about the percentages that fannie and freddie will even need the money. They are attempting to stop the invisible hand and it will slap them somehow, or probably it will slap you and me and we didn’t do anything.

It wont maintain anything and the debt will go higher, why do we have to bail out things that fail, why is darwinism so bad? The market will find a way without our tax money, let it. I haven’t had a drop of wine for a week, and just now I broke out one, I had to.

[Huckleberry]

So, is the general consensus among Piggs that this bill will generally not be of help to SD home owners that are in trouble?

Is it also believed that the bill will not artificially prop up prices?

What are your opinions about how this bill will affect coastal markets such as La Jolla and PB?

[Huckleberry]

So, is the general consensus among Piggs that this bill will generally not be of help to SD home owners that are in trouble?

Is it also believed that the bill will not artificially prop up prices?

What are your opinions about how this bill will affect coastal markets such as La Jolla and PB?

[Huckleberry]

So, is the general consensus among Piggs that this bill will generally not be of help to SD home owners that are in trouble?

Is it also believed that the bill will not artificially prop up prices?

What are your opinions about how this bill will affect coastal markets such as La Jolla and PB?

[Huckleberry]

So, is the general consensus among Piggs that this bill will generally not be of help to SD home owners that are in trouble?

Is it also believed that the bill will not artificially prop up prices?

What are your opinions about how this bill will affect coastal markets such as La Jolla and PB?

[Huckleberry]

So, is the general consensus among Piggs that this bill will generally not be of help to SD home owners that are in trouble?

Is it also believed that the bill will not artificially prop up prices?

What are your opinions about how this bill will affect coastal markets such as La Jolla and PB?

[Arty]

So, is the general consensus among Piggs that this bill will generally not be of help to SD home owners that are in trouble?

Is it also believed that the bill will not artificially prop up prices?

According to Eli Broad (interview this weekend), you won’t see any benefits of the bill for the housing market. The housing market is going to get worse and the “end result is affordable homes.” Of course, he is biased???

[Arty]

So, is the general consensus among Piggs that this bill will generally not be of help to SD home owners that are in trouble?

Is it also believed that the bill will not artificially prop up prices?

According to Eli Broad (interview this weekend), you won’t see any benefits of the bill for the housing market. The housing market is going to get worse and the “end result is affordable homes.” Of course, he is biased???

[Arty]

So, is the general consensus among Piggs that this bill will generally not be of help to SD home owners that are in trouble?

Is it also believed that the bill will not artificially prop up prices?

According to Eli Broad (interview this weekend), you won’t see any benefits of the bill for the housing market. The housing market is going to get worse and the “end result is affordable homes.” Of course, he is biased???

[Arty]

So, is the general consensus among Piggs that this bill will generally not be of help to SD home owners that are in trouble?

Is it also believed that the bill will not artificially prop up prices?

According to Eli Broad (interview this weekend), you won’t see any benefits of the bill for the housing market. The housing market is going to get worse and the “end result is affordable homes.” Of course, he is biased???

[Author]

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