CALL YOUR REPRESENTATIVES!!!

[Mark Holmes]

Well, I wrote Feinstein, Boxer, and Susan Davis. Didn’t bother with Bush. Text of my email:

“No Bailout!

I can’t say it any plainer than that. My partner and I have watched with incredulity over the past 8 years as everyone and their brother have taken leave of their senses and overextended themselves with houses, credit cards and cars they really can’t afford.

We have one credit card, two 15-year old cars, and rent our house in a vastly inflated real estate market. We have had hundreds of offers of credit cards, mortgages and car loans pushed on us over the past eight years. We made the responsible decision to not take on too much debt.

So now, we’re supposed to help pay for a bailout of companies and individuals who made bad financial decisions.

I expect you, as our elected representative, to say no to any more of these bailouts.

Period.”

I honestly don’t think it will make a whit of difference, but I couldn’t just sit back and watch them without adding my shout to the chorus.

[toddt]

CA Renter, I get your point, but Gross has been advising Paulson regularly recently, and is not a pig the Lehman/Bear/ML sense. PIMCO is a very conservative investor compared to the leverage ratios and risks the I-Banks took in this cycle.

His theory of potential profit is not that out of the question. The government is going to be hold lots of paper out of this, likely bought at a significant discount (he thinks 65 cents on the dollar). As recently as 12 months ago, these were trading at close to par value. Many of the loans in question are actually paying and 65 cents on the dollar is building a lot of non-performance into the model.

BTW, Merrill recently sold $30B at 22 cents, which is almost laughable. If the true value of those CDOs is 22 cents on the dollar, then our economy is in a whole lot more trouble than $700B, because it’s builing in over a 50% foreclosure rate (especially when the cost of money on the $700B is via T-Bills). You can’t show me a market today that’s at a 50% foreclosure rate, even across the the worst of this asset class.

[toddt]

CA Renter, I get your point, but Gross has been advising Paulson regularly recently, and is not a pig the Lehman/Bear/ML sense. PIMCO is a very conservative investor compared to the leverage ratios and risks the I-Banks took in this cycle.

His theory of potential profit is not that out of the question. The government is going to be hold lots of paper out of this, likely bought at a significant discount (he thinks 65 cents on the dollar). As recently as 12 months ago, these were trading at close to par value. Many of the loans in question are actually paying and 65 cents on the dollar is building a lot of non-performance into the model.

BTW, Merrill recently sold $30B at 22 cents, which is almost laughable. If the true value of those CDOs is 22 cents on the dollar, then our economy is in a whole lot more trouble than $700B, because it’s builing in over a 50% foreclosure rate (especially when the cost of money on the $700B is via T-Bills). You can’t show me a market today that’s at a 50% foreclosure rate, even across the the worst of this asset class.

[toddt]

CA Renter, I get your point, but Gross has been advising Paulson regularly recently, and is not a pig the Lehman/Bear/ML sense. PIMCO is a very conservative investor compared to the leverage ratios and risks the I-Banks took in this cycle.

His theory of potential profit is not that out of the question. The government is going to be hold lots of paper out of this, likely bought at a significant discount (he thinks 65 cents on the dollar). As recently as 12 months ago, these were trading at close to par value. Many of the loans in question are actually paying and 65 cents on the dollar is building a lot of non-performance into the model.

BTW, Merrill recently sold $30B at 22 cents, which is almost laughable. If the true value of those CDOs is 22 cents on the dollar, then our economy is in a whole lot more trouble than $700B, because it’s builing in over a 50% foreclosure rate (especially when the cost of money on the $700B is via T-Bills). You can’t show me a market today that’s at a 50% foreclosure rate, even across the the worst of this asset class.

[toddt]

CA Renter, I get your point, but Gross has been advising Paulson regularly recently, and is not a pig the Lehman/Bear/ML sense. PIMCO is a very conservative investor compared to the leverage ratios and risks the I-Banks took in this cycle.

His theory of potential profit is not that out of the question. The government is going to be hold lots of paper out of this, likely bought at a significant discount (he thinks 65 cents on the dollar). As recently as 12 months ago, these were trading at close to par value. Many of the loans in question are actually paying and 65 cents on the dollar is building a lot of non-performance into the model.

BTW, Merrill recently sold $30B at 22 cents, which is almost laughable. If the true value of those CDOs is 22 cents on the dollar, then our economy is in a whole lot more trouble than $700B, because it’s builing in over a 50% foreclosure rate (especially when the cost of money on the $700B is via T-Bills). You can’t show me a market today that’s at a 50% foreclosure rate, even across the the worst of this asset class.

[toddt]

CA Renter, I get your point, but Gross has been advising Paulson regularly recently, and is not a pig the Lehman/Bear/ML sense. PIMCO is a very conservative investor compared to the leverage ratios and risks the I-Banks took in this cycle.

His theory of potential profit is not that out of the question. The government is going to be hold lots of paper out of this, likely bought at a significant discount (he thinks 65 cents on the dollar). As recently as 12 months ago, these were trading at close to par value. Many of the loans in question are actually paying and 65 cents on the dollar is building a lot of non-performance into the model.

BTW, Merrill recently sold $30B at 22 cents, which is almost laughable. If the true value of those CDOs is 22 cents on the dollar, then our economy is in a whole lot more trouble than $700B, because it’s builing in over a 50% foreclosure rate (especially when the cost of money on the $700B is via T-Bills). You can’t show me a market today that’s at a 50% foreclosure rate, even across the the worst of this asset class.

[mike92104]

Everybody just has to keep it up. I’m tempted to start running for offices myself. Won’t do a whole lot of good at the national level, but you have to start locally, and we all know our city government isn’t something to be proud of either. What do you guys think?

[mike92104]

Everybody just has to keep it up. I’m tempted to start running for offices myself. Won’t do a whole lot of good at the national level, but you have to start locally, and we all know our city government isn’t something to be proud of either. What do you guys think?

[mike92104]

Everybody just has to keep it up. I’m tempted to start running for offices myself. Won’t do a whole lot of good at the national level, but you have to start locally, and we all know our city government isn’t something to be proud of either. What do you guys think?

[mike92104]

Everybody just has to keep it up. I’m tempted to start running for offices myself. Won’t do a whole lot of good at the national level, but you have to start locally, and we all know our city government isn’t something to be proud of either. What do you guys think?

[mike92104]

Everybody just has to keep it up. I’m tempted to start running for offices myself. Won’t do a whole lot of good at the national level, but you have to start locally, and we all know our city government isn’t something to be proud of either. What do you guys think?

[cr]

Representatives:
http://www.conservativeusa.org/mega-cong.htm

Senators:
http://www.theorator.com/senate.html, http://www1.umn.edu/humanrts/peace/senate.html

[cr]

Representatives:
http://www.conservativeusa.org/mega-cong.htm

Senators:
http://www.theorator.com/senate.html, http://www1.umn.edu/humanrts/peace/senate.html

[cr]

Representatives:
http://www.conservativeusa.org/mega-cong.htm

Senators:
http://www.theorator.com/senate.html, http://www1.umn.edu/humanrts/peace/senate.html

[cr]

Representatives:
http://www.conservativeusa.org/mega-cong.htm

Senators:
http://www.theorator.com/senate.html, http://www1.umn.edu/humanrts/peace/senate.html

[Author]

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