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Hatfield
Participant[quote=CA renter]I fault the govt 100% for the mess they’ve created. What they should have done is stand behind the original FDIC and SIPC insurance, and let the chips fall where they may.[/quote]
I agree, they probably should have left the banks fail and insure the deposits, even the ones above the FDIC limits. Those deposits would then get moved wherever the depositor decides. This would have the effect of recapitalizing the surviving banks, and maybe the gov’t could provide additional capitalization if necessary. And the “toxic assets” of the failed banks would be liquidated at auction. So the market could figure out a value for them, instead of the current case where they’re hidden away in the balance sheets with some bullshit valuation. (Still waiting for THAT shoe to drop.)
I think it would have cost us a lot less money, and left us with a stronger banking system. And we’d have a few more unemployed idiot bankers.
Participant[quote=CA renter]I fault the govt 100% for the mess they’ve created. What they should have done is stand behind the original FDIC and SIPC insurance, and let the chips fall where they may.[/quote]
I agree, they probably should have left the banks fail and insure the deposits, even the ones above the FDIC limits. Those deposits would then get moved wherever the depositor decides. This would have the effect of recapitalizing the surviving banks, and maybe the gov’t could provide additional capitalization if necessary. And the “toxic assets” of the failed banks would be liquidated at auction. So the market could figure out a value for them, instead of the current case where they’re hidden away in the balance sheets with some bullshit valuation. (Still waiting for THAT shoe to drop.)
I think it would have cost us a lot less money, and left us with a stronger banking system. And we’d have a few more unemployed idiot bankers.
June 30, 2009 at 4:53 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #422657ParticipantKinda like this SD-UT article:
http://www3.signonsandiego.com/stories/2009/jun/30/bn30housing115437/?business&zIndex=124782
That the rate at which home prices are falling slowed last month is interesting, but it would have been useful to see what the sales volume was.
June 30, 2009 at 4:53 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #422888ParticipantKinda like this SD-UT article:
http://www3.signonsandiego.com/stories/2009/jun/30/bn30housing115437/?business&zIndex=124782
That the rate at which home prices are falling slowed last month is interesting, but it would have been useful to see what the sales volume was.
June 30, 2009 at 4:53 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #423163ParticipantKinda like this SD-UT article:
http://www3.signonsandiego.com/stories/2009/jun/30/bn30housing115437/?business&zIndex=124782
That the rate at which home prices are falling slowed last month is interesting, but it would have been useful to see what the sales volume was.
June 30, 2009 at 4:53 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #423231ParticipantKinda like this SD-UT article:
http://www3.signonsandiego.com/stories/2009/jun/30/bn30housing115437/?business&zIndex=124782
That the rate at which home prices are falling slowed last month is interesting, but it would have been useful to see what the sales volume was.
June 30, 2009 at 4:53 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #423392ParticipantKinda like this SD-UT article:
http://www3.signonsandiego.com/stories/2009/jun/30/bn30housing115437/?business&zIndex=124782
That the rate at which home prices are falling slowed last month is interesting, but it would have been useful to see what the sales volume was.
June 30, 2009 at 4:35 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #422633ParticipantWhat does CAR have to do with the Administration?
BTW, we knew those sales numbers were bullshit.
June 30, 2009 at 4:35 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #422863ParticipantWhat does CAR have to do with the Administration?
BTW, we knew those sales numbers were bullshit.
June 30, 2009 at 4:35 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #423138ParticipantWhat does CAR have to do with the Administration?
BTW, we knew those sales numbers were bullshit.
June 30, 2009 at 4:35 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #423206ParticipantWhat does CAR have to do with the Administration?
BTW, we knew those sales numbers were bullshit.
June 30, 2009 at 4:35 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #423368ParticipantWhat does CAR have to do with the Administration?
BTW, we knew those sales numbers were bullshit.
ParticipantThe sort of thing makes me want to throw up.
Frankly, doing a calculation and deciding to stop paying the mortgage is a scum bag move. These people need to be taken out back and beaten.
I know several people who think this way – they’re upside down so fuck it, I’m not paying anymore. One of them even has a rental unit that he’s collecting rent on but not paying the mortgage. It makes me sick. Another acquaintance lost a business, got foreclosed on, then ran out and bought a brand new Range Rover. The sense of entitlement is breath-taking.
Oops, the car is dented, I’ll stop making payments. Oops, my wife has cancer, time for a divorce.
What has this world come to?
ParticipantThe sort of thing makes me want to throw up.
Frankly, doing a calculation and deciding to stop paying the mortgage is a scum bag move. These people need to be taken out back and beaten.
I know several people who think this way – they’re upside down so fuck it, I’m not paying anymore. One of them even has a rental unit that he’s collecting rent on but not paying the mortgage. It makes me sick. Another acquaintance lost a business, got foreclosed on, then ran out and bought a brand new Range Rover. The sense of entitlement is breath-taking.
Oops, the car is dented, I’ll stop making payments. Oops, my wife has cancer, time for a divorce.
What has this world come to?
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