Unfortunate Details of the Bailout

[JWM in SD]

JWM in SD

Here is my opinion on the conforming loan limits. I would actually support it IF THE FOLLOWING WERE TRUE:
-The lenders / investors were forced to eat the difference from the workout (Loan value versus new appraisal value) and take the “CramDown” as Tanta likes to call it.

-The new Gov backed principal balance would need to be less than the Upper Conforming Limit.

Yes, a lot of FBs would get to stay in their stucco box if that is truly what they want to do (otherwise, just walk away right?). However, this would cause a very fast decline in home prices to a market value while keeping FBs happy.

Thoughts?

[Mayer]

http://blownmortgage.com/wp-content/uploads/2008/02/newconforminglimits.pdf

[Mayer]

http://blownmortgage.com/wp-content/uploads/2008/02/newconforminglimits.pdf

[Mayer]

http://blownmortgage.com/wp-content/uploads/2008/02/newconforminglimits.pdf

[Mayer]

http://blownmortgage.com/wp-content/uploads/2008/02/newconforminglimits.pdf

[Mayer]

http://blownmortgage.com/wp-content/uploads/2008/02/newconforminglimits.pdf

[dontfollowtheherd]

So we’re supposed to rush out and by a house because the gub’mint says everything is great? lol.

I don’t think there’s a huge feeling of trust engendered by the current administration marion. It’s not split on party lines either because of a large number of republicans disagreeing with him on many of his policies.

After all, this is the guy who is responsible for his part in:

1.trading away Sammy Sosa to the Cubs and as the joke in Texas goes – bought into the wrong team
2.lost money in practically everything he was involved in (oh wait there was that oil stock which he was accused of insider selling ahead of bad news – he was eventually cleared on that one I believe.
3. WMD
4. you’re doing a heck of a job Brownie
5. proposed the wrong Harriet – he needed Ozzie’s wife
6. Alberto the AG
7. Scooter
8. WMD – oops – mentioned that already
9. taking one of the largest surpluses and turning it into record deficits with his “team” through a “war” and a false economy in real estate only to delay and increase the severity potential of the recession we’re experiencing now
10. reassures the public everything is great and the markets keep tanking within days.
11. failed to “restore” integrity to the White House as he made this a cornerstone of his election strategy (Ted Stevens, Abramoff, Duke Cunningham – we could be here all night)
12. gitmo – waterboarding etc.
13. screwed things up so badly that the Dems got a majority in congress and his own party members were trying to ditch him faster than an ugly blind date
14. created a public “terror” paranoia to get people to support the majority of his initiatives

Yeah, I’m feeling really good about the leadership of my country. lol. Time to get off the soap box.

Let’s face it. As an independent I miss Ronald Reagan in times like these!

[dontfollowtheherd]

So we’re supposed to rush out and by a house because the gub’mint says everything is great? lol.

I don’t think there’s a huge feeling of trust engendered by the current administration marion. It’s not split on party lines either because of a large number of republicans disagreeing with him on many of his policies.

After all, this is the guy who is responsible for his part in:

1.trading away Sammy Sosa to the Cubs and as the joke in Texas goes – bought into the wrong team
2.lost money in practically everything he was involved in (oh wait there was that oil stock which he was accused of insider selling ahead of bad news – he was eventually cleared on that one I believe.
3. WMD
4. you’re doing a heck of a job Brownie
5. proposed the wrong Harriet – he needed Ozzie’s wife
6. Alberto the AG
7. Scooter
8. WMD – oops – mentioned that already
9. taking one of the largest surpluses and turning it into record deficits with his “team” through a “war” and a false economy in real estate only to delay and increase the severity potential of the recession we’re experiencing now
10. reassures the public everything is great and the markets keep tanking within days.
11. failed to “restore” integrity to the White House as he made this a cornerstone of his election strategy (Ted Stevens, Abramoff, Duke Cunningham – we could be here all night)
12. gitmo – waterboarding etc.
13. screwed things up so badly that the Dems got a majority in congress and his own party members were trying to ditch him faster than an ugly blind date
14. created a public “terror” paranoia to get people to support the majority of his initiatives

Yeah, I’m feeling really good about the leadership of my country. lol. Time to get off the soap box.

Let’s face it. As an independent I miss Ronald Reagan in times like these!

[dontfollowtheherd]

So we’re supposed to rush out and by a house because the gub’mint says everything is great? lol.

I don’t think there’s a huge feeling of trust engendered by the current administration marion. It’s not split on party lines either because of a large number of republicans disagreeing with him on many of his policies.

After all, this is the guy who is responsible for his part in:

1.trading away Sammy Sosa to the Cubs and as the joke in Texas goes – bought into the wrong team
2.lost money in practically everything he was involved in (oh wait there was that oil stock which he was accused of insider selling ahead of bad news – he was eventually cleared on that one I believe.
3. WMD
4. you’re doing a heck of a job Brownie
5. proposed the wrong Harriet – he needed Ozzie’s wife
6. Alberto the AG
7. Scooter
8. WMD – oops – mentioned that already
9. taking one of the largest surpluses and turning it into record deficits with his “team” through a “war” and a false economy in real estate only to delay and increase the severity potential of the recession we’re experiencing now
10. reassures the public everything is great and the markets keep tanking within days.
11. failed to “restore” integrity to the White House as he made this a cornerstone of his election strategy (Ted Stevens, Abramoff, Duke Cunningham – we could be here all night)
12. gitmo – waterboarding etc.
13. screwed things up so badly that the Dems got a majority in congress and his own party members were trying to ditch him faster than an ugly blind date
14. created a public “terror” paranoia to get people to support the majority of his initiatives

Yeah, I’m feeling really good about the leadership of my country. lol. Time to get off the soap box.

Let’s face it. As an independent I miss Ronald Reagan in times like these!

[dontfollowtheherd]

So we’re supposed to rush out and by a house because the gub’mint says everything is great? lol.

I don’t think there’s a huge feeling of trust engendered by the current administration marion. It’s not split on party lines either because of a large number of republicans disagreeing with him on many of his policies.

After all, this is the guy who is responsible for his part in:

1.trading away Sammy Sosa to the Cubs and as the joke in Texas goes – bought into the wrong team
2.lost money in practically everything he was involved in (oh wait there was that oil stock which he was accused of insider selling ahead of bad news – he was eventually cleared on that one I believe.
3. WMD
4. you’re doing a heck of a job Brownie
5. proposed the wrong Harriet – he needed Ozzie’s wife
6. Alberto the AG
7. Scooter
8. WMD – oops – mentioned that already
9. taking one of the largest surpluses and turning it into record deficits with his “team” through a “war” and a false economy in real estate only to delay and increase the severity potential of the recession we’re experiencing now
10. reassures the public everything is great and the markets keep tanking within days.
11. failed to “restore” integrity to the White House as he made this a cornerstone of his election strategy (Ted Stevens, Abramoff, Duke Cunningham – we could be here all night)
12. gitmo – waterboarding etc.
13. screwed things up so badly that the Dems got a majority in congress and his own party members were trying to ditch him faster than an ugly blind date
14. created a public “terror” paranoia to get people to support the majority of his initiatives

Yeah, I’m feeling really good about the leadership of my country. lol. Time to get off the soap box.

Let’s face it. As an independent I miss Ronald Reagan in times like these!

[dontfollowtheherd]

So we’re supposed to rush out and by a house because the gub’mint says everything is great? lol.

I don’t think there’s a huge feeling of trust engendered by the current administration marion. It’s not split on party lines either because of a large number of republicans disagreeing with him on many of his policies.

After all, this is the guy who is responsible for his part in:

1.trading away Sammy Sosa to the Cubs and as the joke in Texas goes – bought into the wrong team
2.lost money in practically everything he was involved in (oh wait there was that oil stock which he was accused of insider selling ahead of bad news – he was eventually cleared on that one I believe.
3. WMD
4. you’re doing a heck of a job Brownie
5. proposed the wrong Harriet – he needed Ozzie’s wife
6. Alberto the AG
7. Scooter
8. WMD – oops – mentioned that already
9. taking one of the largest surpluses and turning it into record deficits with his “team” through a “war” and a false economy in real estate only to delay and increase the severity potential of the recession we’re experiencing now
10. reassures the public everything is great and the markets keep tanking within days.
11. failed to “restore” integrity to the White House as he made this a cornerstone of his election strategy (Ted Stevens, Abramoff, Duke Cunningham – we could be here all night)
12. gitmo – waterboarding etc.
13. screwed things up so badly that the Dems got a majority in congress and his own party members were trying to ditch him faster than an ugly blind date
14. created a public “terror” paranoia to get people to support the majority of his initiatives

Yeah, I’m feeling really good about the leadership of my country. lol. Time to get off the soap box.

Let’s face it. As an independent I miss Ronald Reagan in times like these!

[The OC Scam]

Watch the movie (Director’s Cut) Brazil!

[The OC Scam]

Watch the movie (Director’s Cut) Brazil!

[The OC Scam]

Watch the movie (Director’s Cut) Brazil!

[The OC Scam]

Watch the movie (Director’s Cut) Brazil!

[Author]

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