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dw57

dw57
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  • Sure, taxpayers hate bailouts, whether of banks or nations, but they need to stop and consider the "costs of the panic and destruction" that would have ensued without them, James Pethokoukis argues. TARP bought U.S. banks time to raise private capital and restore confidence; the European plan "is in the same vein."  [View news story]
    so you really want to have totally uncontrolled free market?
    thats what most call chaos.
    as there are no courts (that restricts free market)
    and freedom only exist for those who can pay for it.
    which is only the 1%.
    Dec 4 07:13 PM | 1 Like Like |Link to Comment
  • Charlie Munger (BRK.A) is feelin' feisty, taking dead aim at Wall Street bankers, accountants, mortgage lenders, computerized trading, Alan Greenspan and Dick Fuld. Munger unplugged: "The bubble in America was caused by some combination of megalomania, insanity and evil in... investment banking, mortgage banking."  [View news story]
    sure. and they put a gun to the banksters to approve the loan. yeah sure. next you are going to sell a bridge right?
    Jul 1 10:28 PM | 4 Likes Like |Link to Comment
  • Charlie Munger (BRK.A) is feelin' feisty, taking dead aim at Wall Street bankers, accountants, mortgage lenders, computerized trading, Alan Greenspan and Dick Fuld. Munger unplugged: "The bubble in America was caused by some combination of megalomania, insanity and evil in... investment banking, mortgage banking."  [View news story]
    cra has nothing to do with it. its been around for almost 40 years now. why would it have made such a big change 5 years ago? when nothing had changed. CRA is nothing but a smoke screen from wall street and bankstes
    Jul 1 10:27 PM | 1 Like Like |Link to Comment
  • Krugman Is Wrong About Austerity [View article]
    bad news. Europe's unemployment rates have been as good as our have been in good times (pre great recession). and better than our have been in the great recession.
    and while they seem to have lots of problems. to hear some in our country tell it, we are no better.
    so just how much better is our way than theirs?
    Jun 2 12:30 PM | Likes Like |Link to Comment
  • Krugman Is Wrong About Austerity [View article]
    we can blame the Fed for trusting the banks and for believing that the market will fix every thing. it won't. and it never has. F&F were just bystanders while the real action was happening at the mortgage sale to investors scam was going on. banks and wall street loved this. they could loan money to any one that could breath, sell that loan to wall street, and wall street sells it to 'investors' (aka suckers). since the banks weren't going to keep the loans on their books. they really didn't care if the borrower was even remotely able to pay the loan back (they just had to breathing. loans to dead people were a bridge to far. or at least they hadn't gotten that far). all of the banks and wall street cared about was the fees they got from the sales of the 'investments'. oh and the banks also wanted to be the servicers (so they could add on additional fees). about all the Fed did was ignore all of this happening under their noses. but that was intentional as they just knew that this was the market in action (and it was. these folks didn't need any encouragement to do this).
    see what happens when the free market goes off its meds?
    Jun 2 12:25 PM | Likes Like |Link to Comment
  • Krugman Is Wrong About Austerity [View article]
    oddly enough the last big tax increase, ended up with a much bigger economy. sounds contradictory doesn't it? Though I think I figured out why. giving a tax cut is like giving a pay raise. for doing nothing. so why should those who get one, do more? they already are making more. if as as some are proposing, give a tax break for 'bringing home' offshore profits, what if we conditioned said break on their actually doing what those who say will happen, after all, they are going to do it, to get the tax break.
    Jun 1 10:49 AM | Likes Like |Link to Comment
  • Krugman Is Wrong About Austerity [View article]
    really? if so then when that spending gets cut. expect great depression 2. plus it will be much worse than it ever was in the 1930s.
    May 31 11:38 AM | Likes Like |Link to Comment
  • Krugman Is Wrong About Austerity [View article]
    at the moment none of the private sectors is in any position to take over from what government spending has been doing. not one of them. the private sector hasn't done much since the 21st century began. except export jobs. which seems to be the plan. the did blow up a huge bubble in housing. and seemed to trying to avoid responsibility for their actions. again
    May 30 04:14 PM | Likes Like |Link to Comment
  • Krugman Is Wrong About Austerity [View article]
    they also had it happen when the rest of the world wasn't trying to right their own finances by exporting to every one else. like now.
    the EPA has nothing to do with our energy independence. the only way it can happen is for us to cut our usage to a level that we have the ability to produce. we don't have any secret oil fields, so we need to improve our efficiency in use of gas fail that. and we can't do it. we just don't have the oil to support us.
    May 30 04:11 PM | Likes Like |Link to Comment
  • Krugman Is Wrong About Austerity [View article]
    odd. you didn't know that 32 was the election year? meaning the great depression was in full bloom before FDR was elected
    May 30 04:07 PM | Likes Like |Link to Comment
  • Krugman Is Wrong About Austerity [View article]
    not sure but we have had at least 2 examples that show it doesn't seem to work as advertised. Britain has certainly been on their austerity binge. much more so than even considered in the US. and so far, the big jobs explosion hasn't occurred. and since we don't have a lot of experince with their plan, maye its to soon. but to hear those pushing austerity, there should have been. seems like it just suppose to magically occur. but then we do have another example, Ireland. and they have been on the path much longer. and no jobs explosion has occurred there either. so far 0-2. so just when did this austerity plan work when the worlds economy was tanking? the only example i have heard that seemed to work was Canada. but when they did it the world was not tanking. and they could expand their exports. unlike now. where every country in the world is trying to do that, and keeping others from doing so
    May 26 06:42 PM | 1 Like Like |Link to Comment
  • Medicare and Social Security will go bust sooner than previously thought, as a slow-growing economy saps revenues, a new report says. Trustees say the Medicare trust fund is projected to exhaust its funds in 2024, not 2029 as estimated last year, and Social Security will run out of money in 2036, not 2037.  [View news story]
    considering how well we can forecast any thing to do with our economy even 6 months out (or less) just how good are forecasts that are more than 10 years out? and its not like we could fix the problem easily. by just removing the cap on SS taxes. and maybe increasing the Medicare and Medicaid ones by 1 or 2%.
    May 14 05:43 PM | 2 Likes Like |Link to Comment
  • If Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) shut down, interest rates would rise for most borrowers, but urban and rural residents could see sharper increases than customers in the suburbs. And the 30-year fixed-rate mortgage loan could become a luxury product, housing experts say.  [View news story]
    the 30 year mortgage would disappear completely. and the longest mortgage available would be 10 years. just like it was before F&F were created. oh and prices would collapse too. even if you have paid off your house, you will have paid a lot more for it. and if you are still paying, you will be instantly under water. the private market that ballooned and the burst in the last few years isn't coming back any time soon. investors (suckers) who bought the MBS, won't be buying any more of them this decade. or 3 decades from now
    Mar 4 04:33 PM | Likes Like |Link to Comment
  • Financial regulators including the Federal Reserve and FDIC are said to be pushing to require a minimum 20% down payment on home mortgages that would be exempt from new risk-retention standards for banks. Some lawmakers say the new rules might make it too hard for homeowners to qualify for less risky, and less costly, loans.  [View news story]
    he might have. but i doubt it he was really in favor of more people in houses (even had a state of the union where he pushed more for it). but during the time he was in charge the DEMS had little to not power to do any thing about it.
    Mar 4 11:54 AM | Likes Like |Link to Comment
  • Financial regulators including the Federal Reserve and FDIC are said to be pushing to require a minimum 20% down payment on home mortgages that would be exempt from new risk-retention standards for banks. Some lawmakers say the new rules might make it too hard for homeowners to qualify for less risky, and less costly, loans.  [View news story]
    of course they will. they did it before,. and they do it every time. and usually every time it doesn't work out the way they claimed it would. sort of sounds like the boy who cried wolf. wonder why we still take them seriously. since they just killed 8 million jobs. and lots how many trillions in 'assets'? and destroyed how many retirement plans and portfolio?
    Mar 3 11:25 AM | 1 Like Like |Link to Comment
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