[patientrenter]

What TG said. Sometimes I half-wish the purists on this issue could be dropped off somewhere in the Northwest Frontier province of Pakistan. Then interview the survivors (if any) as they emerge for a TV discussion of human rights. Make sure to get a few Harvard professors of law to grill them on how fair and law-abiding they were to their pursuers.

[patientrenter]

What TG said. Sometimes I half-wish the purists on this issue could be dropped off somewhere in the Northwest Frontier province of Pakistan. Then interview the survivors (if any) as they emerge for a TV discussion of human rights. Make sure to get a few Harvard professors of law to grill them on how fair and law-abiding they were to their pursuers.

[patientrenter]

What TG said. Sometimes I half-wish the purists on this issue could be dropped off somewhere in the Northwest Frontier province of Pakistan. Then interview the survivors (if any) as they emerge for a TV discussion of human rights. Make sure to get a few Harvard professors of law to grill them on how fair and law-abiding they were to their pursuers.

[patientrenter]

What TG said. Sometimes I half-wish the purists on this issue could be dropped off somewhere in the Northwest Frontier province of Pakistan. Then interview the survivors (if any) as they emerge for a TV discussion of human rights. Make sure to get a few Harvard professors of law to grill them on how fair and law-abiding they were to their pursuers.

[patientrenter]

[quote=jpinpb][quote=patientrenter]I won’t attempt to steal SDR’s thunder, but I think PPIP is a taste of what’s to come. If banks can’t sell REOs at inflated prices on the open market, then govt subsidies will be created to allow them to sell to some investors at inflated prices. It’s the PPIP model for MBSs translated to REOs.[/quote]

Forgive my lack of knowledge here. The PPIP needs to do something w/the properties, wouldn’t they? Are they going to rent them all? If they attempt to sell and can’t get an inflated price, they can sell for less, b/c aren’t the taxpayers footing the bill if they have a loss?

I thought the PPIP also has little skin in the game. Aren’t we just pretty much still just playing hot potato. Tag! the PPIP are it and not the banks. Now they get to deal w/it and if they make money, cool. If not, the taxpayers got you covered.

And in this market, w/tightening credit still in effect, they might be a little challenged selling high. They may have to take a loss, b/c it won’t really be a loss b/c aren’t they covered?

Maybe I have it all wrong. It’s a little complicated for me to understand it all. Trying to make sense of it.
[/quote]

jpnpb, the PPIP introduced govt subsidies for buyers of mortgage-backed securities, to help boost their prices. It doesn’t apply to the underlying real estate, just the loans. It was done in a way that allowed the general public to be led into believing that it was almost a fair market transaction.

All I’m saying is that if the banks experience too much pain from having to sell REOs at a loss, then Tim and Ben will create a similar program that covers REOs. So investors will “buy” REOs from banks at inflated prices, backed by govt money and guarantees.

For those who think it’s not possible to inflate entire markets merely by offering unlimited amounts of cheap and easy borrowed money for overpriced purchases… Oh, right, that was the bubble… it did happen… it can happen again

[patientrenter]

[quote=jpinpb][quote=patientrenter]I won’t attempt to steal SDR’s thunder, but I think PPIP is a taste of what’s to come. If banks can’t sell REOs at inflated prices on the open market, then govt subsidies will be created to allow them to sell to some investors at inflated prices. It’s the PPIP model for MBSs translated to REOs.[/quote]

Forgive my lack of knowledge here. The PPIP needs to do something w/the properties, wouldn’t they? Are they going to rent them all? If they attempt to sell and can’t get an inflated price, they can sell for less, b/c aren’t the taxpayers footing the bill if they have a loss?

I thought the PPIP also has little skin in the game. Aren’t we just pretty much still just playing hot potato. Tag! the PPIP are it and not the banks. Now they get to deal w/it and if they make money, cool. If not, the taxpayers got you covered.

And in this market, w/tightening credit still in effect, they might be a little challenged selling high. They may have to take a loss, b/c it won’t really be a loss b/c aren’t they covered?

Maybe I have it all wrong. It’s a little complicated for me to understand it all. Trying to make sense of it.
[/quote]

jpnpb, the PPIP introduced govt subsidies for buyers of mortgage-backed securities, to help boost their prices. It doesn’t apply to the underlying real estate, just the loans. It was done in a way that allowed the general public to be led into believing that it was almost a fair market transaction.

All I’m saying is that if the banks experience too much pain from having to sell REOs at a loss, then Tim and Ben will create a similar program that covers REOs. So investors will “buy” REOs from banks at inflated prices, backed by govt money and guarantees.

For those who think it’s not possible to inflate entire markets merely by offering unlimited amounts of cheap and easy borrowed money for overpriced purchases… Oh, right, that was the bubble… it did happen… it can happen again

[patientrenter]

[quote=jpinpb][quote=patientrenter]I won’t attempt to steal SDR’s thunder, but I think PPIP is a taste of what’s to come. If banks can’t sell REOs at inflated prices on the open market, then govt subsidies will be created to allow them to sell to some investors at inflated prices. It’s the PPIP model for MBSs translated to REOs.[/quote]

Forgive my lack of knowledge here. The PPIP needs to do something w/the properties, wouldn’t they? Are they going to rent them all? If they attempt to sell and can’t get an inflated price, they can sell for less, b/c aren’t the taxpayers footing the bill if they have a loss?

I thought the PPIP also has little skin in the game. Aren’t we just pretty much still just playing hot potato. Tag! the PPIP are it and not the banks. Now they get to deal w/it and if they make money, cool. If not, the taxpayers got you covered.

And in this market, w/tightening credit still in effect, they might be a little challenged selling high. They may have to take a loss, b/c it won’t really be a loss b/c aren’t they covered?

Maybe I have it all wrong. It’s a little complicated for me to understand it all. Trying to make sense of it.
[/quote]

jpnpb, the PPIP introduced govt subsidies for buyers of mortgage-backed securities, to help boost their prices. It doesn’t apply to the underlying real estate, just the loans. It was done in a way that allowed the general public to be led into believing that it was almost a fair market transaction.

All I’m saying is that if the banks experience too much pain from having to sell REOs at a loss, then Tim and Ben will create a similar program that covers REOs. So investors will “buy” REOs from banks at inflated prices, backed by govt money and guarantees.

For those who think it’s not possible to inflate entire markets merely by offering unlimited amounts of cheap and easy borrowed money for overpriced purchases… Oh, right, that was the bubble… it did happen… it can happen again

[patientrenter]

[quote=jpinpb][quote=patientrenter]I won’t attempt to steal SDR’s thunder, but I think PPIP is a taste of what’s to come. If banks can’t sell REOs at inflated prices on the open market, then govt subsidies will be created to allow them to sell to some investors at inflated prices. It’s the PPIP model for MBSs translated to REOs.[/quote]

Forgive my lack of knowledge here. The PPIP needs to do something w/the properties, wouldn’t they? Are they going to rent them all? If they attempt to sell and can’t get an inflated price, they can sell for less, b/c aren’t the taxpayers footing the bill if they have a loss?

I thought the PPIP also has little skin in the game. Aren’t we just pretty much still just playing hot potato. Tag! the PPIP are it and not the banks. Now they get to deal w/it and if they make money, cool. If not, the taxpayers got you covered.

And in this market, w/tightening credit still in effect, they might be a little challenged selling high. They may have to take a loss, b/c it won’t really be a loss b/c aren’t they covered?

Maybe I have it all wrong. It’s a little complicated for me to understand it all. Trying to make sense of it.
[/quote]

jpnpb, the PPIP introduced govt subsidies for buyers of mortgage-backed securities, to help boost their prices. It doesn’t apply to the underlying real estate, just the loans. It was done in a way that allowed the general public to be led into believing that it was almost a fair market transaction.

All I’m saying is that if the banks experience too much pain from having to sell REOs at a loss, then Tim and Ben will create a similar program that covers REOs. So investors will “buy” REOs from banks at inflated prices, backed by govt money and guarantees.

For those who think it’s not possible to inflate entire markets merely by offering unlimited amounts of cheap and easy borrowed money for overpriced purchases… Oh, right, that was the bubble… it did happen… it can happen again

[patientrenter]

[quote=jpinpb][quote=patientrenter]I won’t attempt to steal SDR’s thunder, but I think PPIP is a taste of what’s to come. If banks can’t sell REOs at inflated prices on the open market, then govt subsidies will be created to allow them to sell to some investors at inflated prices. It’s the PPIP model for MBSs translated to REOs.[/quote]

Forgive my lack of knowledge here. The PPIP needs to do something w/the properties, wouldn’t they? Are they going to rent them all? If they attempt to sell and can’t get an inflated price, they can sell for less, b/c aren’t the taxpayers footing the bill if they have a loss?

I thought the PPIP also has little skin in the game. Aren’t we just pretty much still just playing hot potato. Tag! the PPIP are it and not the banks. Now they get to deal w/it and if they make money, cool. If not, the taxpayers got you covered.

And in this market, w/tightening credit still in effect, they might be a little challenged selling high. They may have to take a loss, b/c it won’t really be a loss b/c aren’t they covered?

Maybe I have it all wrong. It’s a little complicated for me to understand it all. Trying to make sense of it.
[/quote]

jpnpb, the PPIP introduced govt subsidies for buyers of mortgage-backed securities, to help boost their prices. It doesn’t apply to the underlying real estate, just the loans. It was done in a way that allowed the general public to be led into believing that it was almost a fair market transaction.

All I’m saying is that if the banks experience too much pain from having to sell REOs at a loss, then Tim and Ben will create a similar program that covers REOs. So investors will “buy” REOs from banks at inflated prices, backed by govt money and guarantees.

For those who think it’s not possible to inflate entire markets merely by offering unlimited amounts of cheap and easy borrowed money for overpriced purchases… Oh, right, that was the bubble… it did happen… it can happen again

[patientrenter]

[quote=cv2][quote=SD Realtor]
All I know is, if I am a bean counter at a lender, and I can dump that property off so some investor at an inflated price instead of going through the legal hassle of foreclosure, it is a no brainer. Even if I have to sit on the property for months, so what if it is not performing. I get to dump it. No sale, no broker, no commission, no market, no foreclosure proceeding, no trustee sale. The best thing is that everything is backed by our tax dollars. Isn’t that sweet?
[/quote]

Hi SDR, I am missing something here. How can they dump it and to who? The only thing I can think of is that banks can use those loans as col laterals to get cash from FED. Is this what you are referring to?

Thanks!
[/quote]

I won’t attempt to steal SDR’s thunder, but I think PPIP is a taste of what’s to come. If banks can’t sell REOs at inflated prices on the open market, then govt subsidies will be created to allow them to sell to some investors at inflated prices. It’s the PPIP model for MBSs translated to REOs.

[patientrenter]

[quote=cv2][quote=SD Realtor]
All I know is, if I am a bean counter at a lender, and I can dump that property off so some investor at an inflated price instead of going through the legal hassle of foreclosure, it is a no brainer. Even if I have to sit on the property for months, so what if it is not performing. I get to dump it. No sale, no broker, no commission, no market, no foreclosure proceeding, no trustee sale. The best thing is that everything is backed by our tax dollars. Isn’t that sweet?
[/quote]

Hi SDR, I am missing something here. How can they dump it and to who? The only thing I can think of is that banks can use those loans as col laterals to get cash from FED. Is this what you are referring to?

Thanks!
[/quote]

I won’t attempt to steal SDR’s thunder, but I think PPIP is a taste of what’s to come. If banks can’t sell REOs at inflated prices on the open market, then govt subsidies will be created to allow them to sell to some investors at inflated prices. It’s the PPIP model for MBSs translated to REOs.

[patientrenter]

[quote=cv2][quote=SD Realtor]
All I know is, if I am a bean counter at a lender, and I can dump that property off so some investor at an inflated price instead of going through the legal hassle of foreclosure, it is a no brainer. Even if I have to sit on the property for months, so what if it is not performing. I get to dump it. No sale, no broker, no commission, no market, no foreclosure proceeding, no trustee sale. The best thing is that everything is backed by our tax dollars. Isn’t that sweet?
[/quote]

Hi SDR, I am missing something here. How can they dump it and to who? The only thing I can think of is that banks can use those loans as col laterals to get cash from FED. Is this what you are referring to?

Thanks!
[/quote]

I won’t attempt to steal SDR’s thunder, but I think PPIP is a taste of what’s to come. If banks can’t sell REOs at inflated prices on the open market, then govt subsidies will be created to allow them to sell to some investors at inflated prices. It’s the PPIP model for MBSs translated to REOs.

[patientrenter]

[quote=cv2][quote=SD Realtor]
All I know is, if I am a bean counter at a lender, and I can dump that property off so some investor at an inflated price instead of going through the legal hassle of foreclosure, it is a no brainer. Even if I have to sit on the property for months, so what if it is not performing. I get to dump it. No sale, no broker, no commission, no market, no foreclosure proceeding, no trustee sale. The best thing is that everything is backed by our tax dollars. Isn’t that sweet?
[/quote]

Hi SDR, I am missing something here. How can they dump it and to who? The only thing I can think of is that banks can use those loans as col laterals to get cash from FED. Is this what you are referring to?

Thanks!
[/quote]

I won’t attempt to steal SDR’s thunder, but I think PPIP is a taste of what’s to come. If banks can’t sell REOs at inflated prices on the open market, then govt subsidies will be created to allow them to sell to some investors at inflated prices. It’s the PPIP model for MBSs translated to REOs.

[patientrenter]

[quote=cv2][quote=SD Realtor]
All I know is, if I am a bean counter at a lender, and I can dump that property off so some investor at an inflated price instead of going through the legal hassle of foreclosure, it is a no brainer. Even if I have to sit on the property for months, so what if it is not performing. I get to dump it. No sale, no broker, no commission, no market, no foreclosure proceeding, no trustee sale. The best thing is that everything is backed by our tax dollars. Isn’t that sweet?
[/quote]

Hi SDR, I am missing something here. How can they dump it and to who? The only thing I can think of is that banks can use those loans as col laterals to get cash from FED. Is this what you are referring to?

Thanks!
[/quote]

I won’t attempt to steal SDR’s thunder, but I think PPIP is a taste of what’s to come. If banks can’t sell REOs at inflated prices on the open market, then govt subsidies will be created to allow them to sell to some investors at inflated prices. It’s the PPIP model for MBSs translated to REOs.

[patientrenter]

[quote=meadandale]
…..
I also pay 100% of my own healthcare, have to fund my own retirement and if I want a vacation, I have to stop working and lose the revenue from being out of the office. I don’t get sick days or 2 weeks of paid vacation every year.

You want to write off those things? Start a business…or don’t…but don’t bitch and complain about the ‘unfair’ tax breaks business owners get until you’ve been one.

[/quote]

Meadandale, you and I do different things for a living. You are a business owner, which brings some positives and some negatives. You could choose to divide everyone up into the industries they are in – financial, entertainment, manufacturing…. I am sure each has its own positives and negatives. Does that mean that people in some of those industries should pay less taxes than someone earning the same income who works in another industry? I think the burden of justifying that sort of differentiation falls squarely on the person asking for special treatment. With that perspective, I think you’d have a hard time convincing the majority that business owners need to pay less taxes on the same (real) income as non-owners. Everyone thinks they are special, so it’s best to make no one special.

[Author]

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