[TheBreeze]

There sure are a lot of people on this board who believe that government can save the economy. I’m not one of them. I’d prefer that the government completely remove itself from trying to prop up asset prices or the economy. I’m totally in favor of large public works projects that help keep the unemployment rate from getting out of control, but I don’t see any reason why the government should be involved with the mortgage market.

Also, those who think low LIBOR rates are going to save the PAY Option ARMs should read Mr. Mortgage:

http://mrmortgage.ml-implode.com/2008/12/23/pay-option-arms-the-implosion-is-still-coming-despite-low-rates/

The main problem for PAY Option ARMs is that most people are making the minimum payment, and it’s the hard reset to full amortization that happens after 5 years that will take these mortgages down. Low rates have no affect on the fully amortized payment.

As for Davelj’s assertion that most of the MBS’s, CDO’s, etc are undervalued right now, well, I think that’s a crock of feces. There are still tons of foreclosures to come and valuing the three-letter-acronyms on current income is highly risky. Also, as another poster above said, do you really think AIG bailout money is “money good”. Please.

[TheBreeze]

There sure are a lot of people on this board who believe that government can save the economy. I’m not one of them. I’d prefer that the government completely remove itself from trying to prop up asset prices or the economy. I’m totally in favor of large public works projects that help keep the unemployment rate from getting out of control, but I don’t see any reason why the government should be involved with the mortgage market.

Also, those who think low LIBOR rates are going to save the PAY Option ARMs should read Mr. Mortgage:

http://mrmortgage.ml-implode.com/2008/12/23/pay-option-arms-the-implosion-is-still-coming-despite-low-rates/

The main problem for PAY Option ARMs is that most people are making the minimum payment, and it’s the hard reset to full amortization that happens after 5 years that will take these mortgages down. Low rates have no affect on the fully amortized payment.

As for Davelj’s assertion that most of the MBS’s, CDO’s, etc are undervalued right now, well, I think that’s a crock of feces. There are still tons of foreclosures to come and valuing the three-letter-acronyms on current income is highly risky. Also, as another poster above said, do you really think AIG bailout money is “money good”. Please.

[TheBreeze]

There sure are a lot of people on this board who believe that government can save the economy. I’m not one of them. I’d prefer that the government completely remove itself from trying to prop up asset prices or the economy. I’m totally in favor of large public works projects that help keep the unemployment rate from getting out of control, but I don’t see any reason why the government should be involved with the mortgage market.

Also, those who think low LIBOR rates are going to save the PAY Option ARMs should read Mr. Mortgage:

http://mrmortgage.ml-implode.com/2008/12/23/pay-option-arms-the-implosion-is-still-coming-despite-low-rates/

The main problem for PAY Option ARMs is that most people are making the minimum payment, and it’s the hard reset to full amortization that happens after 5 years that will take these mortgages down. Low rates have no affect on the fully amortized payment.

As for Davelj’s assertion that most of the MBS’s, CDO’s, etc are undervalued right now, well, I think that’s a crock of feces. There are still tons of foreclosures to come and valuing the three-letter-acronyms on current income is highly risky. Also, as another poster above said, do you really think AIG bailout money is “money good”. Please.

[TheBreeze]

There sure are a lot of people on this board who believe that government can save the economy. I’m not one of them. I’d prefer that the government completely remove itself from trying to prop up asset prices or the economy. I’m totally in favor of large public works projects that help keep the unemployment rate from getting out of control, but I don’t see any reason why the government should be involved with the mortgage market.

Also, those who think low LIBOR rates are going to save the PAY Option ARMs should read Mr. Mortgage:

http://mrmortgage.ml-implode.com/2008/12/23/pay-option-arms-the-implosion-is-still-coming-despite-low-rates/

The main problem for PAY Option ARMs is that most people are making the minimum payment, and it’s the hard reset to full amortization that happens after 5 years that will take these mortgages down. Low rates have no affect on the fully amortized payment.

As for Davelj’s assertion that most of the MBS’s, CDO’s, etc are undervalued right now, well, I think that’s a crock of feces. There are still tons of foreclosures to come and valuing the three-letter-acronyms on current income is highly risky. Also, as another poster above said, do you really think AIG bailout money is “money good”. Please.

[TheBreeze]

There sure are a lot of people on this board who believe that government can save the economy. I’m not one of them. I’d prefer that the government completely remove itself from trying to prop up asset prices or the economy. I’m totally in favor of large public works projects that help keep the unemployment rate from getting out of control, but I don’t see any reason why the government should be involved with the mortgage market.

Also, those who think low LIBOR rates are going to save the PAY Option ARMs should read Mr. Mortgage:

http://mrmortgage.ml-implode.com/2008/12/23/pay-option-arms-the-implosion-is-still-coming-despite-low-rates/

The main problem for PAY Option ARMs is that most people are making the minimum payment, and it’s the hard reset to full amortization that happens after 5 years that will take these mortgages down. Low rates have no affect on the fully amortized payment.

As for Davelj’s assertion that most of the MBS’s, CDO’s, etc are undervalued right now, well, I think that’s a crock of feces. There are still tons of foreclosures to come and valuing the three-letter-acronyms on current income is highly risky. Also, as another poster above said, do you really think AIG bailout money is “money good”. Please.

[TheBreeze]

[quote=Ex-SD] I don’t like the Iraq War and a whole lot of things about this current administration but if Gore or Kerry had been voted into the Presidency, I’m not too sure that all would have been “hunky dorey”, do you?
[/quote]

If Bush hadn’t stolen the election from Gore, there probably wouldn’t have been an Iraq War. Bush’s main reason for going into Iraq was that Saddam “tried to kill Bush’s dad.”

I doubt Gore or any other Democrat would have let Wall Street rape the economy like Bush did. Bush was all about deregulation, deregulation, deregulation (i.e., privatize the gains) and then bailout, bailout, bailout (socialize the losses).

It’ll be interesting to see what type of speaking gigs Chimpy gets. I’d pay to get a chance to kick Bush in the balls, but I wouldn’t pay to listen to anything this retard has to say.

[TheBreeze]

[quote=Ex-SD] I don’t like the Iraq War and a whole lot of things about this current administration but if Gore or Kerry had been voted into the Presidency, I’m not too sure that all would have been “hunky dorey”, do you?
[/quote]

If Bush hadn’t stolen the election from Gore, there probably wouldn’t have been an Iraq War. Bush’s main reason for going into Iraq was that Saddam “tried to kill Bush’s dad.”

I doubt Gore or any other Democrat would have let Wall Street rape the economy like Bush did. Bush was all about deregulation, deregulation, deregulation (i.e., privatize the gains) and then bailout, bailout, bailout (socialize the losses).

It’ll be interesting to see what type of speaking gigs Chimpy gets. I’d pay to get a chance to kick Bush in the balls, but I wouldn’t pay to listen to anything this retard has to say.

[TheBreeze]

[quote=Ex-SD] I don’t like the Iraq War and a whole lot of things about this current administration but if Gore or Kerry had been voted into the Presidency, I’m not too sure that all would have been “hunky dorey”, do you?
[/quote]

If Bush hadn’t stolen the election from Gore, there probably wouldn’t have been an Iraq War. Bush’s main reason for going into Iraq was that Saddam “tried to kill Bush’s dad.”

I doubt Gore or any other Democrat would have let Wall Street rape the economy like Bush did. Bush was all about deregulation, deregulation, deregulation (i.e., privatize the gains) and then bailout, bailout, bailout (socialize the losses).

It’ll be interesting to see what type of speaking gigs Chimpy gets. I’d pay to get a chance to kick Bush in the balls, but I wouldn’t pay to listen to anything this retard has to say.

[TheBreeze]

[quote=Ex-SD] I don’t like the Iraq War and a whole lot of things about this current administration but if Gore or Kerry had been voted into the Presidency, I’m not too sure that all would have been “hunky dorey”, do you?
[/quote]

If Bush hadn’t stolen the election from Gore, there probably wouldn’t have been an Iraq War. Bush’s main reason for going into Iraq was that Saddam “tried to kill Bush’s dad.”

I doubt Gore or any other Democrat would have let Wall Street rape the economy like Bush did. Bush was all about deregulation, deregulation, deregulation (i.e., privatize the gains) and then bailout, bailout, bailout (socialize the losses).

It’ll be interesting to see what type of speaking gigs Chimpy gets. I’d pay to get a chance to kick Bush in the balls, but I wouldn’t pay to listen to anything this retard has to say.

[TheBreeze]

[quote=Ex-SD] I don’t like the Iraq War and a whole lot of things about this current administration but if Gore or Kerry had been voted into the Presidency, I’m not too sure that all would have been “hunky dorey”, do you?
[/quote]

If Bush hadn’t stolen the election from Gore, there probably wouldn’t have been an Iraq War. Bush’s main reason for going into Iraq was that Saddam “tried to kill Bush’s dad.”

I doubt Gore or any other Democrat would have let Wall Street rape the economy like Bush did. Bush was all about deregulation, deregulation, deregulation (i.e., privatize the gains) and then bailout, bailout, bailout (socialize the losses).

It’ll be interesting to see what type of speaking gigs Chimpy gets. I’d pay to get a chance to kick Bush in the balls, but I wouldn’t pay to listen to anything this retard has to say.

[TheBreeze]

[quote=esmith] In practice, half of these cuts either can’t or shouldn’t be made (90% cut to the budget of administration of California Department of Forestry Fire Protection? No kidding?) [/quote]

This sounds like a fine cut to me. If CA residents want to live in the middle of a tinder box, that’s fine with me, but don’t make me pay for it.

[TheBreeze]

[quote=esmith] In practice, half of these cuts either can’t or shouldn’t be made (90% cut to the budget of administration of California Department of Forestry Fire Protection? No kidding?) [/quote]

This sounds like a fine cut to me. If CA residents want to live in the middle of a tinder box, that’s fine with me, but don’t make me pay for it.

[TheBreeze]

[quote=esmith] In practice, half of these cuts either can’t or shouldn’t be made (90% cut to the budget of administration of California Department of Forestry Fire Protection? No kidding?) [/quote]

This sounds like a fine cut to me. If CA residents want to live in the middle of a tinder box, that’s fine with me, but don’t make me pay for it.

[TheBreeze]

[quote=esmith] In practice, half of these cuts either can’t or shouldn’t be made (90% cut to the budget of administration of California Department of Forestry Fire Protection? No kidding?) [/quote]

This sounds like a fine cut to me. If CA residents want to live in the middle of a tinder box, that’s fine with me, but don’t make me pay for it.

[TheBreeze]

[quote=esmith] In practice, half of these cuts either can’t or shouldn’t be made (90% cut to the budget of administration of California Department of Forestry Fire Protection? No kidding?) [/quote]

This sounds like a fine cut to me. If CA residents want to live in the middle of a tinder box, that’s fine with me, but don’t make me pay for it.

[Author]

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