No Sympathy's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/227233/comments http://seekingalpha.com/article/168515-too-big-to-fail-now-it-gets-interesting?source=feed#comment-729646 729646 FDIC) didn't have to pay off the depositors and manage the assets (ie. bad mortgages). The basic fundamental reason for the risk is Government meddling in the credit markets to fund mortgages and home sales to people who could not afford them. Of course the government did this due to pressure from voters (not necessarily tax payers). Tax payers ultimately pay for what voters want, we call this the tyranny of the majority.]]> Sun, 25 Oct 2009 16:00:41 -0400 FDIC) didn't have to pay off the depositors and manage the assets (ie. bad mortgages). The basic fundamental reason for the risk is Government meddling in the credit markets to fund mortgages and home sales to people who could not afford them. Of course the government did this due to pressure from voters (not necessarily tax payers). Tax payers ultimately pay for what voters want, we call this the tyranny of the majority.]]> http://seekingalpha.com/article/168614-where-s-the-outrage-at-the-banks?source=feed#comment-729070 729070 CRAP) or they face the wrath of regulators. So our Government sets up programs such as Fannie and Freddie so that the banks can offload the risk that they didn't want in the fist place. The FDIC, OCC, State Banking regulators, and Federal Reserve inspectors and regulators were more likely to criticize a bank for Not making a bad loan than making one. I once, as a bank director, was chastised by the Federal Reserve for denying a mortgage loan to a young lady who had lost her employment after the application was and home purchase contract was signed. She was actually relieved and thankfully for the denial because since she had lost her employment she had no income to pay the mortgage on a home that she didn't now want. So the bank avoided a potentially bad loan, the customer was happy, but the Regulators were upset and criticized the bank and accused us of sex discrimination and that we might be in violation of the CRAP laws. Our government pushed the banks into mortgage banking after they pushed the S&L industry over the cliff.
We were encouraged to make bad loans and then push them on to others to avoid the risk and to avoid the wrath of the regulators. In other words the Banks did exactly what they were told to do by the government or be put out of business by the government. So save your wrath and outrage for Barney Frank who is still pushing banks to keep making bad loans. Oh by the way that young lady who was denied a loan... She is now my wife.]]> Sun, 25 Oct 2009 09:49:50 -0400 CRAP) or they face the wrath of regulators. So our Government sets up programs such as Fannie and Freddie so that the banks can offload the risk that they didn't want in the fist place. The FDIC, OCC, State Banking regulators, and Federal Reserve inspectors and regulators were more likely to criticize a bank for Not making a bad loan than making one. I once, as a bank director, was chastised by the Federal Reserve for denying a mortgage loan to a young lady who had lost her employment after the application was and home purchase contract was signed. She was actually relieved and thankfully for the denial because since she had lost her employment she had no income to pay the mortgage on a home that she didn't now want. So the bank avoided a potentially bad loan, the customer was happy, but the Regulators were upset and criticized the bank and accused us of sex discrimination and that we might be in violation of the CRAP laws. Our government pushed the banks into mortgage banking after they pushed the S&L industry over the cliff.
We were encouraged to make bad loans and then push them on to others to avoid the risk and to avoid the wrath of the regulators. In other words the Banks did exactly what they were told to do by the government or be put out of business by the government. So save your wrath and outrage for Barney Frank who is still pushing banks to keep making bad loans. Oh by the way that young lady who was denied a loan... She is now my wife.]]> http://seekingalpha.com/article/152909-cash-for-clunkers-may-cost-up-to-45-354-per-vehicle?source=feed#comment-610734 610734

On Jul 31 01:43 PM dancingdad wrote:

> Avery must be a republican because he does math like one. His arguments
> are like the ones Bush made going into Iraq. First note he said 200,000
> low mileage cars are traded in a normal 3 month period. ( I'm willing
> to bet a large percentage of the clunkers coming in are high mileage
> ones.) He then assumes that all the clunker cars replace all the
> normal trades (bad assumption). His faulty logic leads him to conclude
> that 222,000 clunkers - 200,000 normal trades so we get 22,000 additional
> trade activity for $1B. All wrong, all worst case assumptions, typical
> republican BS.]]> Sat, 01 Aug 2009 11:20:16 -0400

On Jul 31 01:43 PM dancingdad wrote:

> Avery must be a republican because he does math like one. His arguments
> are like the ones Bush made going into Iraq. First note he said 200,000
> low mileage cars are traded in a normal 3 month period. ( I'm willing
> to bet a large percentage of the clunkers coming in are high mileage
> ones.) He then assumes that all the clunker cars replace all the
> normal trades (bad assumption). His faulty logic leads him to conclude
> that 222,000 clunkers - 200,000 normal trades so we get 22,000 additional
> trade activity for $1B. All wrong, all worst case assumptions, typical
> republican BS.]]> http://seekingalpha.com/article/112454-madoff-investors-deserve-sympathy-not-a-bailout?source=feed#comment-340812 340812

On Dec 29 01:34 PM User 327530 wrote:

> It wasn't only hedge funds that he stole from. It was people's IRA
> accounts. You talk about bailing out the auto industry because it
> will at least help "regular" people. Who do you think these people
> are? Not everyone was a billionaire. But even if they were, the SEC
> turned their back and probably took payoffs. So the government needs
> to fix this as the SEC is a government agency that failed the people
> they were supposed to protect. It's a joke. So my elderly parents
> have to go back to work because the SEC slacked off and Madoff stole
> what my father worked 40 years lugging pipes in and out of asbestos
> filled basements for. You act like everyone should have known...well
> they didn't. You use an investment firm because you're not an expert.
> I sincerely hope you never have anyone steal your future.]]> Mon, 29 Dec 2008 15:49:59 -0500

On Dec 29 01:34 PM User 327530 wrote:

> It wasn't only hedge funds that he stole from. It was people's IRA
> accounts. You talk about bailing out the auto industry because it
> will at least help "regular" people. Who do you think these people
> are? Not everyone was a billionaire. But even if they were, the SEC
> turned their back and probably took payoffs. So the government needs
> to fix this as the SEC is a government agency that failed the people
> they were supposed to protect. It's a joke. So my elderly parents
> have to go back to work because the SEC slacked off and Madoff stole
> what my father worked 40 years lugging pipes in and out of asbestos
> filled basements for. You act like everyone should have known...well
> they didn't. You use an investment firm because you're not an expert.
> I sincerely hope you never have anyone steal your future.]]> http://seekingalpha.com/article/106981-jpmorgan-expect-fed-to-cut-to-0-in-january?source=feed#comment-311328 311328
On Nov 20 10:59 AM dieuwer wrote:

> I will repeat this for the morons on this website: THERE IS NO DEFLATION!!!
> Yes, there is DELEVERAGING, but NO DEFLATION!!!
>
> Deflation = decrease in money supply. Well folks, that ain't happenin'.]]> Thu, 20 Nov 2008 22:18:20 -0500
On Nov 20 10:59 AM dieuwer wrote:

> I will repeat this for the morons on this website: THERE IS NO DEFLATION!!!
> Yes, there is DELEVERAGING, but NO DEFLATION!!!
>
> Deflation = decrease in money supply. Well folks, that ain't happenin'.]]> http://seekingalpha.com/article/106990-fed-bank-regulatory-powers-the-dog-that-didn-t-bark?source=feed#comment-311322 311322
In attending 20 years of bank reviews, the Bank where I was a director, was never criticized for any mortgage loan we made... only the ones we did not make. The "credit rights" of the customer is incompatible with the "safely and soundness" of banks. Since no one can serve two masters, the wishes of the master in DC who carried the bigger stick was served. When ever their was a conflict between safety and soundness and CRA (Community Reinvestment Act) CRA won. This was not the fault of the cops on the beat, their hands were tied by policy in DC. (read Congress).

]]> Thu, 20 Nov 2008 21:57:38 -0500
In attending 20 years of bank reviews, the Bank where I was a director, was never criticized for any mortgage loan we made... only the ones we did not make. The "credit rights" of the customer is incompatible with the "safely and soundness" of banks. Since no one can serve two masters, the wishes of the master in DC who carried the bigger stick was served. When ever their was a conflict between safety and soundness and CRA (Community Reinvestment Act) CRA won. This was not the fault of the cops on the beat, their hands were tied by policy in DC. (read Congress).

]]> http://seekingalpha.com/article/87007-setting-a-new-high-mark-for-the-next-housing-bubble?source=feed#comment-214651 214651 Fri, 25 Jul 2008 15:26:29 -0400 http://seekingalpha.com/article/85227-the-global-food-crisis-from-panic-to-organic?source=feed#comment-207141 207141 Wed, 16 Jul 2008 15:32:59 -0400 http://seekingalpha.com/article/85277-earnings-preview-huntington-bancshares?source=feed#comment-207123 207123 Wed, 16 Jul 2008 15:08:57 -0400