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August 9, 2007 at 2:21 PM in reply to: BNP Paribas Freezes 3 Asset-Backed Securities Funds Amid Subprime Market Problems #72476August 9, 2007 at 2:21 PM in reply to: BNP Paribas Freezes 3 Asset-Backed Securities Funds Amid Subprime Market Problems #72484
bsrsharma
Participant“Whenever the Europeans enter America in a big way, they always lose.”
Happened to Japanese in 1980s. Chinese in 2010s?
Americans are smart at living well with “Other People’s Money”!
August 9, 2007 at 2:11 PM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72346Participant“If the credit bubble didn’t exist”
Probably not. Essentially, what Super Janae is doing is cheating. That requires a greedy, uninformed victim. Though it is likely there would be fewer of them in a less frothy market, white collar criminals (or pink here?) will always have some opportunity in a universe of suckers and losers. How else can you describe the people who signed on the exploding ARM papers and the “investors” who bought them for the promised “High Yield”. Neither of them deserves sympathy. We should just let economic Darwinism play out its full natural vigor.
August 9, 2007 at 2:11 PM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72464Participant“If the credit bubble didn’t exist”
Probably not. Essentially, what Super Janae is doing is cheating. That requires a greedy, uninformed victim. Though it is likely there would be fewer of them in a less frothy market, white collar criminals (or pink here?) will always have some opportunity in a universe of suckers and losers. How else can you describe the people who signed on the exploding ARM papers and the “investors” who bought them for the promised “High Yield”. Neither of them deserves sympathy. We should just let economic Darwinism play out its full natural vigor.
August 9, 2007 at 2:11 PM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72474Participant“If the credit bubble didn’t exist”
Probably not. Essentially, what Super Janae is doing is cheating. That requires a greedy, uninformed victim. Though it is likely there would be fewer of them in a less frothy market, white collar criminals (or pink here?) will always have some opportunity in a universe of suckers and losers. How else can you describe the people who signed on the exploding ARM papers and the “investors” who bought them for the promised “High Yield”. Neither of them deserves sympathy. We should just let economic Darwinism play out its full natural vigor.
August 9, 2007 at 1:09 PM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72304Participant“dollar is at an all time low right now. Super Janae is an example of where the value our US Dollar has gone in the past several years.”
I haven’t read econ text books in a while, but I am fairly certain this is NOT a cause of $ decline. What Super Janae has done is (probably fraudulently) transferred wealth from an “investor” to herself. That doesn’t cause devaluation anymore than a pickpocket robbing you. What it will definitely do is discouraget any more “investors” from loaning out money, and that will raise mortgage rate skyhigh. That of course is going to kill RE market, making houses cheaper but without qualified buyers. BTW, many of these “investors” are overseas, and that may indirectly cause $ to drop as they liquidate $ holdings out of fear (as seems to be happening in Europe now).
August 9, 2007 at 1:09 PM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72423Participant“dollar is at an all time low right now. Super Janae is an example of where the value our US Dollar has gone in the past several years.”
I haven’t read econ text books in a while, but I am fairly certain this is NOT a cause of $ decline. What Super Janae has done is (probably fraudulently) transferred wealth from an “investor” to herself. That doesn’t cause devaluation anymore than a pickpocket robbing you. What it will definitely do is discouraget any more “investors” from loaning out money, and that will raise mortgage rate skyhigh. That of course is going to kill RE market, making houses cheaper but without qualified buyers. BTW, many of these “investors” are overseas, and that may indirectly cause $ to drop as they liquidate $ holdings out of fear (as seems to be happening in Europe now).
August 9, 2007 at 1:09 PM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72431Participant“dollar is at an all time low right now. Super Janae is an example of where the value our US Dollar has gone in the past several years.”
I haven’t read econ text books in a while, but I am fairly certain this is NOT a cause of $ decline. What Super Janae has done is (probably fraudulently) transferred wealth from an “investor” to herself. That doesn’t cause devaluation anymore than a pickpocket robbing you. What it will definitely do is discouraget any more “investors” from loaning out money, and that will raise mortgage rate skyhigh. That of course is going to kill RE market, making houses cheaper but without qualified buyers. BTW, many of these “investors” are overseas, and that may indirectly cause $ to drop as they liquidate $ holdings out of fear (as seems to be happening in Europe now).
August 9, 2007 at 12:05 PM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72240ParticipantWhat is the problem? Looks like some one is robbing mortgage lenders in broad daylight. If there is someone stupid enough to advance these Jumbo loans, I say go ahead and enjoy. Make hay while the sun shines! It is going to get very dark very soon for a long time. Seems like a perfectly legal transfer of wealth between consenting adults!
August 9, 2007 at 12:05 PM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72356ParticipantWhat is the problem? Looks like some one is robbing mortgage lenders in broad daylight. If there is someone stupid enough to advance these Jumbo loans, I say go ahead and enjoy. Make hay while the sun shines! It is going to get very dark very soon for a long time. Seems like a perfectly legal transfer of wealth between consenting adults!
August 9, 2007 at 12:05 PM in reply to: Where is the Outrage? Realtors gone amok,still ripping off the Banks #72365ParticipantWhat is the problem? Looks like some one is robbing mortgage lenders in broad daylight. If there is someone stupid enough to advance these Jumbo loans, I say go ahead and enjoy. Make hay while the sun shines! It is going to get very dark very soon for a long time. Seems like a perfectly legal transfer of wealth between consenting adults!
Participant2008 will not be low-turnout election year. If this economic crisis reaches its peak by summer 2008, it will be one whopper of change election. At least those feeling bad about low turnouts in elections can celebrate!
Participant2008 will not be low-turnout election year. If this economic crisis reaches its peak by summer 2008, it will be one whopper of change election. At least those feeling bad about low turnouts in elections can celebrate!
Participant2008 will not be low-turnout election year. If this economic crisis reaches its peak by summer 2008, it will be one whopper of change election. At least those feeling bad about low turnouts in elections can celebrate!
Participant“we need an “economic crash” to reset our value system and remind people what is most important in life.”
Wow Contraman!
I see political attention focussing on this still incipient crisis. Hillary Clinton shed some crocodile tears on the fate of all the poor borrowers, there were segments on NPR/PBS radio & TV. Even President Bush spoke rationally on the topic – No bailout, no increasing GSE limits/purrchases.
Global liquidity is getting squeezed. Europeans are crying uncle. Their central bank injected $130B to prevent a run. (Fed injected only $10B so far). Since US needs to borrow $2B per day to keep going, this is going to get very expensive soon.
I think this may turn worse than S & L crisis. Significant recession/stagflation seems all but certain. It is starting to look like late 1970s/early ’80s rather than late 80s.
Contraman is going to get his wishes. But it will be very ugly. In the end, he will be liking to retract his wishes!
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