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kewp.
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February 21, 2009 at 9:06 AM #351707February 21, 2009 at 9:08 AM #351141
rnen
ParticipantFor some reason my only the text I copied from Obama’s plan showed up. Here are my thoughts that were to go with it.
As the it states right in the plan it is to help “particularly those who received subprime and exotic loans with exploding terms and hidden fees”. From what I read basically the Government, aka the TAX PAYERS are going to fund lowering intrest rates and principle of those who never should have got a loan in the first place. Further, we the TAX PAYERS are going to PAY those lenders who issued mortgages they had no business issuing incentives to refinance the bad loans. Umm.. did I get that right? Someone help me understand how this is NOT rewarding bad behavior and punishing the responsible. On top of that the rates are held for 5yrs and then adjusted! So this plan “fixes” the problem created by subprime and exotic loans with an “exotic” loan??? Am I wrong in thinking that all this plan is going to do is cost us a shitload of money and delay what is inevitable, foreclosure, for 5 yrs? In turn will this not delay the correction in the housing market and delay any recovery?
Someone please explain to me how Santelli is wrong regarding this plan?
A thought on polls supporting this plan, if you were to poll only those who would pay for it, meaning those who actually PAY TAXES, what would the results be?
February 21, 2009 at 9:08 AM #351454ParticipantFor some reason my only the text I copied from Obama’s plan showed up. Here are my thoughts that were to go with it.
As the it states right in the plan it is to help “particularly those who received subprime and exotic loans with exploding terms and hidden fees”. From what I read basically the Government, aka the TAX PAYERS are going to fund lowering intrest rates and principle of those who never should have got a loan in the first place. Further, we the TAX PAYERS are going to PAY those lenders who issued mortgages they had no business issuing incentives to refinance the bad loans. Umm.. did I get that right? Someone help me understand how this is NOT rewarding bad behavior and punishing the responsible. On top of that the rates are held for 5yrs and then adjusted! So this plan “fixes” the problem created by subprime and exotic loans with an “exotic” loan??? Am I wrong in thinking that all this plan is going to do is cost us a shitload of money and delay what is inevitable, foreclosure, for 5 yrs? In turn will this not delay the correction in the housing market and delay any recovery?
Someone please explain to me how Santelli is wrong regarding this plan?
A thought on polls supporting this plan, if you were to poll only those who would pay for it, meaning those who actually PAY TAXES, what would the results be?
February 21, 2009 at 9:08 AM #351580ParticipantFor some reason my only the text I copied from Obama’s plan showed up. Here are my thoughts that were to go with it.
As the it states right in the plan it is to help “particularly those who received subprime and exotic loans with exploding terms and hidden fees”. From what I read basically the Government, aka the TAX PAYERS are going to fund lowering intrest rates and principle of those who never should have got a loan in the first place. Further, we the TAX PAYERS are going to PAY those lenders who issued mortgages they had no business issuing incentives to refinance the bad loans. Umm.. did I get that right? Someone help me understand how this is NOT rewarding bad behavior and punishing the responsible. On top of that the rates are held for 5yrs and then adjusted! So this plan “fixes” the problem created by subprime and exotic loans with an “exotic” loan??? Am I wrong in thinking that all this plan is going to do is cost us a shitload of money and delay what is inevitable, foreclosure, for 5 yrs? In turn will this not delay the correction in the housing market and delay any recovery?
Someone please explain to me how Santelli is wrong regarding this plan?
A thought on polls supporting this plan, if you were to poll only those who would pay for it, meaning those who actually PAY TAXES, what would the results be?
February 21, 2009 at 9:08 AM #351613ParticipantFor some reason my only the text I copied from Obama’s plan showed up. Here are my thoughts that were to go with it.
As the it states right in the plan it is to help “particularly those who received subprime and exotic loans with exploding terms and hidden fees”. From what I read basically the Government, aka the TAX PAYERS are going to fund lowering intrest rates and principle of those who never should have got a loan in the first place. Further, we the TAX PAYERS are going to PAY those lenders who issued mortgages they had no business issuing incentives to refinance the bad loans. Umm.. did I get that right? Someone help me understand how this is NOT rewarding bad behavior and punishing the responsible. On top of that the rates are held for 5yrs and then adjusted! So this plan “fixes” the problem created by subprime and exotic loans with an “exotic” loan??? Am I wrong in thinking that all this plan is going to do is cost us a shitload of money and delay what is inevitable, foreclosure, for 5 yrs? In turn will this not delay the correction in the housing market and delay any recovery?
Someone please explain to me how Santelli is wrong regarding this plan?
A thought on polls supporting this plan, if you were to poll only those who would pay for it, meaning those who actually PAY TAXES, what would the results be?
February 21, 2009 at 9:08 AM #351712ParticipantFor some reason my only the text I copied from Obama’s plan showed up. Here are my thoughts that were to go with it.
As the it states right in the plan it is to help “particularly those who received subprime and exotic loans with exploding terms and hidden fees”. From what I read basically the Government, aka the TAX PAYERS are going to fund lowering intrest rates and principle of those who never should have got a loan in the first place. Further, we the TAX PAYERS are going to PAY those lenders who issued mortgages they had no business issuing incentives to refinance the bad loans. Umm.. did I get that right? Someone help me understand how this is NOT rewarding bad behavior and punishing the responsible. On top of that the rates are held for 5yrs and then adjusted! So this plan “fixes” the problem created by subprime and exotic loans with an “exotic” loan??? Am I wrong in thinking that all this plan is going to do is cost us a shitload of money and delay what is inevitable, foreclosure, for 5 yrs? In turn will this not delay the correction in the housing market and delay any recovery?
Someone please explain to me how Santelli is wrong regarding this plan?
A thought on polls supporting this plan, if you were to poll only those who would pay for it, meaning those who actually PAY TAXES, what would the results be?
February 21, 2009 at 9:37 AM #351156tucker…
ParticipantTell ’em Karl.
February 21, 2009 at 9:37 AM #351469ParticipantTell ’em Karl.
February 21, 2009 at 9:37 AM #351595ParticipantTell ’em Karl.
February 21, 2009 at 9:37 AM #351628ParticipantTell ’em Karl.
February 21, 2009 at 9:37 AM #351727ParticipantTell ’em Karl.
February 21, 2009 at 10:00 AM #351186gandalf
ParticipantTucker, man. I don’t know what to tell you. I’m sorry if I come out across purposes. I dropped the pretense of being polite about a year ago. This financial mess is just infuriating, and it has already directly affected my business, and in turn my family. Almost all of us are going to be affected negatively in various ways. So I’m angry. Santelli is angry. Lots of us are angry. There are an amazing number of people who are angry about Obama. It’s all counter-productive, I admit.
And I do appreciate the comments about humor. I really should try to laugh about all this a bit more…
* * *
rnen, yeah, I actually don’t think the plan has much to do with the typical ‘hard-pressed homeowner’, underneath. Sure that’s the focus from outside-in. But it seems to me to be more about stemming the tide of increasing foreclosures, and slowing the downward spiral of home prices, both of which are intrinsically linked as you know — and the precipitous drop in the value of underlying assets is just ‘killing’ our financial system.
These guys on trading floors though — what a piece of work. And there’s a whole caste of people like this who got rich quick in financial markets rules be damned, caution be damned, risk be damned, and they’ve put their respective BANKS in deep, deep, deep water. And I’ll remind everybody, BANKS are not just normal companies, THEY GET TO HOLD OUR MONEY. If they go out of business, the take OUR MONEY with them.
The only peaceful, non-mass-chaos way out of this mess, from what I can tell, is (1) stabilization, then (2) debasement of the currency to devalue untenable debt and bring the economy back into balance. The dollar will suffer, and America will suffer relative to the rest of the world.
February 21, 2009 at 10:00 AM #351499ParticipantTucker, man. I don’t know what to tell you. I’m sorry if I come out across purposes. I dropped the pretense of being polite about a year ago. This financial mess is just infuriating, and it has already directly affected my business, and in turn my family. Almost all of us are going to be affected negatively in various ways. So I’m angry. Santelli is angry. Lots of us are angry. There are an amazing number of people who are angry about Obama. It’s all counter-productive, I admit.
And I do appreciate the comments about humor. I really should try to laugh about all this a bit more…
* * *
rnen, yeah, I actually don’t think the plan has much to do with the typical ‘hard-pressed homeowner’, underneath. Sure that’s the focus from outside-in. But it seems to me to be more about stemming the tide of increasing foreclosures, and slowing the downward spiral of home prices, both of which are intrinsically linked as you know — and the precipitous drop in the value of underlying assets is just ‘killing’ our financial system.
These guys on trading floors though — what a piece of work. And there’s a whole caste of people like this who got rich quick in financial markets rules be damned, caution be damned, risk be damned, and they’ve put their respective BANKS in deep, deep, deep water. And I’ll remind everybody, BANKS are not just normal companies, THEY GET TO HOLD OUR MONEY. If they go out of business, the take OUR MONEY with them.
The only peaceful, non-mass-chaos way out of this mess, from what I can tell, is (1) stabilization, then (2) debasement of the currency to devalue untenable debt and bring the economy back into balance. The dollar will suffer, and America will suffer relative to the rest of the world.
February 21, 2009 at 10:00 AM #351625ParticipantTucker, man. I don’t know what to tell you. I’m sorry if I come out across purposes. I dropped the pretense of being polite about a year ago. This financial mess is just infuriating, and it has already directly affected my business, and in turn my family. Almost all of us are going to be affected negatively in various ways. So I’m angry. Santelli is angry. Lots of us are angry. There are an amazing number of people who are angry about Obama. It’s all counter-productive, I admit.
And I do appreciate the comments about humor. I really should try to laugh about all this a bit more…
* * *
rnen, yeah, I actually don’t think the plan has much to do with the typical ‘hard-pressed homeowner’, underneath. Sure that’s the focus from outside-in. But it seems to me to be more about stemming the tide of increasing foreclosures, and slowing the downward spiral of home prices, both of which are intrinsically linked as you know — and the precipitous drop in the value of underlying assets is just ‘killing’ our financial system.
These guys on trading floors though — what a piece of work. And there’s a whole caste of people like this who got rich quick in financial markets rules be damned, caution be damned, risk be damned, and they’ve put their respective BANKS in deep, deep, deep water. And I’ll remind everybody, BANKS are not just normal companies, THEY GET TO HOLD OUR MONEY. If they go out of business, the take OUR MONEY with them.
The only peaceful, non-mass-chaos way out of this mess, from what I can tell, is (1) stabilization, then (2) debasement of the currency to devalue untenable debt and bring the economy back into balance. The dollar will suffer, and America will suffer relative to the rest of the world.
February 21, 2009 at 10:00 AM #351658ParticipantTucker, man. I don’t know what to tell you. I’m sorry if I come out across purposes. I dropped the pretense of being polite about a year ago. This financial mess is just infuriating, and it has already directly affected my business, and in turn my family. Almost all of us are going to be affected negatively in various ways. So I’m angry. Santelli is angry. Lots of us are angry. There are an amazing number of people who are angry about Obama. It’s all counter-productive, I admit.
And I do appreciate the comments about humor. I really should try to laugh about all this a bit more…
* * *
rnen, yeah, I actually don’t think the plan has much to do with the typical ‘hard-pressed homeowner’, underneath. Sure that’s the focus from outside-in. But it seems to me to be more about stemming the tide of increasing foreclosures, and slowing the downward spiral of home prices, both of which are intrinsically linked as you know — and the precipitous drop in the value of underlying assets is just ‘killing’ our financial system.
These guys on trading floors though — what a piece of work. And there’s a whole caste of people like this who got rich quick in financial markets rules be damned, caution be damned, risk be damned, and they’ve put their respective BANKS in deep, deep, deep water. And I’ll remind everybody, BANKS are not just normal companies, THEY GET TO HOLD OUR MONEY. If they go out of business, the take OUR MONEY with them.
The only peaceful, non-mass-chaos way out of this mess, from what I can tell, is (1) stabilization, then (2) debasement of the currency to devalue untenable debt and bring the economy back into balance. The dollar will suffer, and America will suffer relative to the rest of the world.
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