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larrylujack
ParticipantI think the breeze got it right: If banks/lender/brokers qualified buyers of homes and were willing to lend money accordingly than that in fact means the buyers were qualified. If there was a default to occur, the bank/lender can hardly be blameless since they were willing to provide the purchase money.
Thus, if am the banker and have money that I am lending I would be far more careful in making sure I get the money paid back than the borrower, who can simply walk from the home.
However, what skewed this arrangement was that the banker could easily resell the loan to the financial wizards of Wall Street. Thus, there were enormous incentives for the bankers to sell or refi loans with little consequence they were playing with their own money or be stuck with the bad loans and would lose since they could repackage the loans to other buyers.ParticipantI think the breeze got it right: If banks/lender/brokers qualified buyers of homes and were willing to lend money accordingly than that in fact means the buyers were qualified. If there was a default to occur, the bank/lender can hardly be blameless since they were willing to provide the purchase money.
Thus, if am the banker and have money that I am lending I would be far more careful in making sure I get the money paid back than the borrower, who can simply walk from the home.
However, what skewed this arrangement was that the banker could easily resell the loan to the financial wizards of Wall Street. Thus, there were enormous incentives for the bankers to sell or refi loans with little consequence they were playing with their own money or be stuck with the bad loans and would lose since they could repackage the loans to other buyers.ParticipantI think the breeze got it right: If banks/lender/brokers qualified buyers of homes and were willing to lend money accordingly than that in fact means the buyers were qualified. If there was a default to occur, the bank/lender can hardly be blameless since they were willing to provide the purchase money.
Thus, if am the banker and have money that I am lending I would be far more careful in making sure I get the money paid back than the borrower, who can simply walk from the home.
However, what skewed this arrangement was that the banker could easily resell the loan to the financial wizards of Wall Street. Thus, there were enormous incentives for the bankers to sell or refi loans with little consequence they were playing with their own money or be stuck with the bad loans and would lose since they could repackage the loans to other buyers.ParticipantI think the breeze got it right: If banks/lender/brokers qualified buyers of homes and were willing to lend money accordingly than that in fact means the buyers were qualified. If there was a default to occur, the bank/lender can hardly be blameless since they were willing to provide the purchase money.
Thus, if am the banker and have money that I am lending I would be far more careful in making sure I get the money paid back than the borrower, who can simply walk from the home.
However, what skewed this arrangement was that the banker could easily resell the loan to the financial wizards of Wall Street. Thus, there were enormous incentives for the bankers to sell or refi loans with little consequence they were playing with their own money or be stuck with the bad loans and would lose since they could repackage the loans to other buyers.ParticipantI think the breeze got it right: If banks/lender/brokers qualified buyers of homes and were willing to lend money accordingly than that in fact means the buyers were qualified. If there was a default to occur, the bank/lender can hardly be blameless since they were willing to provide the purchase money.
Thus, if am the banker and have money that I am lending I would be far more careful in making sure I get the money paid back than the borrower, who can simply walk from the home.
However, what skewed this arrangement was that the banker could easily resell the loan to the financial wizards of Wall Street. Thus, there were enormous incentives for the bankers to sell or refi loans with little consequence they were playing with their own money or be stuck with the bad loans and would lose since they could repackage the loans to other buyers.ParticipantNo surprises here, when all is said and done, there will be fewer banks in this country and hopefully the bank focus will be redirected to where it should be: providing capital to worthwhile projects and businesses as opposed to peddling creative financial instruments.
Hedge funds will be hit soon finalizing the RIP of the huckster neoliberal neocon con Laissez-faire era.ParticipantNo surprises here, when all is said and done, there will be fewer banks in this country and hopefully the bank focus will be redirected to where it should be: providing capital to worthwhile projects and businesses as opposed to peddling creative financial instruments.
Hedge funds will be hit soon finalizing the RIP of the huckster neoliberal neocon con Laissez-faire era.ParticipantNo surprises here, when all is said and done, there will be fewer banks in this country and hopefully the bank focus will be redirected to where it should be: providing capital to worthwhile projects and businesses as opposed to peddling creative financial instruments.
Hedge funds will be hit soon finalizing the RIP of the huckster neoliberal neocon con Laissez-faire era.ParticipantNo surprises here, when all is said and done, there will be fewer banks in this country and hopefully the bank focus will be redirected to where it should be: providing capital to worthwhile projects and businesses as opposed to peddling creative financial instruments.
Hedge funds will be hit soon finalizing the RIP of the huckster neoliberal neocon con Laissez-faire era.ParticipantNo surprises here, when all is said and done, there will be fewer banks in this country and hopefully the bank focus will be redirected to where it should be: providing capital to worthwhile projects and businesses as opposed to peddling creative financial instruments.
Hedge funds will be hit soon finalizing the RIP of the huckster neoliberal neocon con Laissez-faire era.Participant[quote=jficquette][quote=gandalf]Enough already.
Not a fan of Clinton-Pelosi-Reid, but at this point in time? Fuck the GOP. Borrow-n-spend fiscal crackpots, flag-pin patriots, religious nutjobs, airport bathroom queers. Republicans are ridiculous. Palin is a prop. McCain has cancer.
I’m ex-GOP, conservative foreign / fiscal policy. Obama is the real thing. Constitutional scholar, pragmatic consensus-builder and old-school responsible. Kill Osama Bin Laden. Re-tool our economy now, get off foreign oil. Enough of the GOP. Voting for Obama / Biden.
[/quote]
Hey Gandalf,
I was wondering when you were going to post again.
Here check this out:
“Per the Wall Street Journal September 11, 2008, “Obama’s Lost Years,” Obama graduated from Columbia University (to which he transferred after his first two years at Occidental College in California), with a degree in Political Science without honors, so had a GPA less than a 3.3, and perhaps far, far lower, perhaps even in the 2.0, C range. His roomate Sohale Siddiqi indicated Obama itially felt alienated, felt “very lost,” and used drugs to get high, which could have led to very low grades initially. The roomate indicates that he then turned serious and “stopped getting high.” Obama transferred to Columbia because “I was concerned with urban issues and I wanted to be around more black folks in big cities.” Based on his less-than 3.3 GPA, it seems likely his admission to Harvard Law School was based not on his own merit, but rather on Affirmative Action. Obama through September 11, 2008 has continued to refuse to release his Columbia transcript with the exact course details and GPA.”
Gandalf, Obama is an Emperor without clothes.
John
[/quote]gee, jfquicke, how do you square McCain’s rather lackluster academic resume per his tenure at the Naval academy and Palin’s rather thin academic creds at a few forgettable schools in Idaho also? I mean, how well academically did your hero McCain do? 5th from the bottom of his class at US Naval Academy?- stellar! And how many colleges did Palin go to and still can’t speak in complete or coherent sentences? Since you obviously fail to apply the same standard to McCain or Palin as you have to Obama (that is, one can be less than stellar academically and still succeed) , the only explanation is that you are a typical racist. I mean really, if Obama were a repub, like Allan Keyes, you’d be spoutin his University of Chicago and Harvard credentials to no end.
But, then again the party you admire has done such a fabulously good job of governance recently, such that you have to resort to race baiting and smears- as we will soon see more of. No doubt the repubs fit your values. It is too bad you you can not recognize your clear hatred of people of color so much that your thought process (to put it charitably) is so warped. I pity you.
Participant[quote=jficquette][quote=gandalf]Enough already.
Not a fan of Clinton-Pelosi-Reid, but at this point in time? Fuck the GOP. Borrow-n-spend fiscal crackpots, flag-pin patriots, religious nutjobs, airport bathroom queers. Republicans are ridiculous. Palin is a prop. McCain has cancer.
I’m ex-GOP, conservative foreign / fiscal policy. Obama is the real thing. Constitutional scholar, pragmatic consensus-builder and old-school responsible. Kill Osama Bin Laden. Re-tool our economy now, get off foreign oil. Enough of the GOP. Voting for Obama / Biden.
[/quote]
Hey Gandalf,
I was wondering when you were going to post again.
Here check this out:
“Per the Wall Street Journal September 11, 2008, “Obama’s Lost Years,” Obama graduated from Columbia University (to which he transferred after his first two years at Occidental College in California), with a degree in Political Science without honors, so had a GPA less than a 3.3, and perhaps far, far lower, perhaps even in the 2.0, C range. His roomate Sohale Siddiqi indicated Obama itially felt alienated, felt “very lost,” and used drugs to get high, which could have led to very low grades initially. The roomate indicates that he then turned serious and “stopped getting high.” Obama transferred to Columbia because “I was concerned with urban issues and I wanted to be around more black folks in big cities.” Based on his less-than 3.3 GPA, it seems likely his admission to Harvard Law School was based not on his own merit, but rather on Affirmative Action. Obama through September 11, 2008 has continued to refuse to release his Columbia transcript with the exact course details and GPA.”
Gandalf, Obama is an Emperor without clothes.
John
[/quote]gee, jfquicke, how do you square McCain’s rather lackluster academic resume per his tenure at the Naval academy and Palin’s rather thin academic creds at a few forgettable schools in Idaho also? I mean, how well academically did your hero McCain do? 5th from the bottom of his class at US Naval Academy?- stellar! And how many colleges did Palin go to and still can’t speak in complete or coherent sentences? Since you obviously fail to apply the same standard to McCain or Palin as you have to Obama (that is, one can be less than stellar academically and still succeed) , the only explanation is that you are a typical racist. I mean really, if Obama were a repub, like Allan Keyes, you’d be spoutin his University of Chicago and Harvard credentials to no end.
But, then again the party you admire has done such a fabulously good job of governance recently, such that you have to resort to race baiting and smears- as we will soon see more of. No doubt the repubs fit your values. It is too bad you you can not recognize your clear hatred of people of color so much that your thought process (to put it charitably) is so warped. I pity you.
Participant[quote=jficquette][quote=gandalf]Enough already.
Not a fan of Clinton-Pelosi-Reid, but at this point in time? Fuck the GOP. Borrow-n-spend fiscal crackpots, flag-pin patriots, religious nutjobs, airport bathroom queers. Republicans are ridiculous. Palin is a prop. McCain has cancer.
I’m ex-GOP, conservative foreign / fiscal policy. Obama is the real thing. Constitutional scholar, pragmatic consensus-builder and old-school responsible. Kill Osama Bin Laden. Re-tool our economy now, get off foreign oil. Enough of the GOP. Voting for Obama / Biden.
[/quote]
Hey Gandalf,
I was wondering when you were going to post again.
Here check this out:
“Per the Wall Street Journal September 11, 2008, “Obama’s Lost Years,” Obama graduated from Columbia University (to which he transferred after his first two years at Occidental College in California), with a degree in Political Science without honors, so had a GPA less than a 3.3, and perhaps far, far lower, perhaps even in the 2.0, C range. His roomate Sohale Siddiqi indicated Obama itially felt alienated, felt “very lost,” and used drugs to get high, which could have led to very low grades initially. The roomate indicates that he then turned serious and “stopped getting high.” Obama transferred to Columbia because “I was concerned with urban issues and I wanted to be around more black folks in big cities.” Based on his less-than 3.3 GPA, it seems likely his admission to Harvard Law School was based not on his own merit, but rather on Affirmative Action. Obama through September 11, 2008 has continued to refuse to release his Columbia transcript with the exact course details and GPA.”
Gandalf, Obama is an Emperor without clothes.
John
[/quote]gee, jfquicke, how do you square McCain’s rather lackluster academic resume per his tenure at the Naval academy and Palin’s rather thin academic creds at a few forgettable schools in Idaho also? I mean, how well academically did your hero McCain do? 5th from the bottom of his class at US Naval Academy?- stellar! And how many colleges did Palin go to and still can’t speak in complete or coherent sentences? Since you obviously fail to apply the same standard to McCain or Palin as you have to Obama (that is, one can be less than stellar academically and still succeed) , the only explanation is that you are a typical racist. I mean really, if Obama were a repub, like Allan Keyes, you’d be spoutin his University of Chicago and Harvard credentials to no end.
But, then again the party you admire has done such a fabulously good job of governance recently, such that you have to resort to race baiting and smears- as we will soon see more of. No doubt the repubs fit your values. It is too bad you you can not recognize your clear hatred of people of color so much that your thought process (to put it charitably) is so warped. I pity you.
Participant[quote=jficquette][quote=gandalf]Enough already.
Not a fan of Clinton-Pelosi-Reid, but at this point in time? Fuck the GOP. Borrow-n-spend fiscal crackpots, flag-pin patriots, religious nutjobs, airport bathroom queers. Republicans are ridiculous. Palin is a prop. McCain has cancer.
I’m ex-GOP, conservative foreign / fiscal policy. Obama is the real thing. Constitutional scholar, pragmatic consensus-builder and old-school responsible. Kill Osama Bin Laden. Re-tool our economy now, get off foreign oil. Enough of the GOP. Voting for Obama / Biden.
[/quote]
Hey Gandalf,
I was wondering when you were going to post again.
Here check this out:
“Per the Wall Street Journal September 11, 2008, “Obama’s Lost Years,” Obama graduated from Columbia University (to which he transferred after his first two years at Occidental College in California), with a degree in Political Science without honors, so had a GPA less than a 3.3, and perhaps far, far lower, perhaps even in the 2.0, C range. His roomate Sohale Siddiqi indicated Obama itially felt alienated, felt “very lost,” and used drugs to get high, which could have led to very low grades initially. The roomate indicates that he then turned serious and “stopped getting high.” Obama transferred to Columbia because “I was concerned with urban issues and I wanted to be around more black folks in big cities.” Based on his less-than 3.3 GPA, it seems likely his admission to Harvard Law School was based not on his own merit, but rather on Affirmative Action. Obama through September 11, 2008 has continued to refuse to release his Columbia transcript with the exact course details and GPA.”
Gandalf, Obama is an Emperor without clothes.
John
[/quote]gee, jfquicke, how do you square McCain’s rather lackluster academic resume per his tenure at the Naval academy and Palin’s rather thin academic creds at a few forgettable schools in Idaho also? I mean, how well academically did your hero McCain do? 5th from the bottom of his class at US Naval Academy?- stellar! And how many colleges did Palin go to and still can’t speak in complete or coherent sentences? Since you obviously fail to apply the same standard to McCain or Palin as you have to Obama (that is, one can be less than stellar academically and still succeed) , the only explanation is that you are a typical racist. I mean really, if Obama were a repub, like Allan Keyes, you’d be spoutin his University of Chicago and Harvard credentials to no end.
But, then again the party you admire has done such a fabulously good job of governance recently, such that you have to resort to race baiting and smears- as we will soon see more of. No doubt the repubs fit your values. It is too bad you you can not recognize your clear hatred of people of color so much that your thought process (to put it charitably) is so warped. I pity you.
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