normiss 848
People are simply wanting something for nothing.
Foreclosure 'Occupation'
I don't care WHAT your views on capitalism are, it's quite simply wrong to expect something for nothing.
You must pay for your house when you obtain a loan.
Sorry if you don't like the things you agreed to when finances get tight.
Bertt 0
AIG Financial Products was selling credit default swaps insuring mortgage backed securities. No one forced AIG to do this. Bush didn't, Greenspan didn't, Obama didn't, Gramm didn't, Chris Dodd didn't, and Barney Frank didn't.
AIG, the world's largest insurance company, had their own actuaries. It didn't matter if Fannie and Freddie, or Countrywide, or anyone else created a housing bubble. AIG had the resources to determine whether home prices were likely to increase by 6 percent per year forever, or if that was a little too optimistic. AIG had the resources to form their own opinion about the AAA rating given some of the MBS's.
I'll leave it to the reader to discuss how stupid you have to be to take a very large and very successful insurance company to the brink of bankruptcy in a few, short years, but the fact is, AIG placed some very large and ill-advised bets with other people's money in an unregulated market.
The AIG experience is what gives credence to the idea that credit default swaps should be regulated like other forms of insurance, with underwriting standards and reserve requirements. The AIG experience is what undermines the idea that Dodd and Frank and too much government regulation is what caused the recession (sorry, Newt).
We need to differentiate between the housing bubble and the derivatives market built around the housing bubble.
(disclaimer: I have never worked for Enron, and I don't have a Nobel prize.)
kallend 2,106
“Guess who they bailed out? The big corporations who were ripping people off in the derivatives market. Who got stuck? The middle class got stuck.”
Ron Paul, Oct 18, 2011
I guess Ron Paul is gullible too.
The only sure way to survive a canopy collision is not to have one.
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We need to differentiate between the housing bubble and the derivatives market built around the housing bubble.
Absolutely. We also need to restrict the amount of leverage obtained via "insurance product" transactions, IMO. When things get bad, that causes things to blow up even more.
billvon 3,067
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And Romney.
Oct 4th: “I think it’s dangerous, this class warfare,” Romney said to an audience of about 50 people in response to a question about the protests over such issues as high unemployment, home foreclosures and the 2008 corporate bailouts.
Oct 11th: "I worry about the 99 percent in America," he said, before adding later in the day: "I understand how those people feel."
Look out Tea Party, here comes the next spurious political force in the US.
mnealtx 0
QuoteLook out
TeaCoffee Party, here comes the next spurious political force in the US.
Fixed that for you.
I love you, Shannon and Jim.
POPS 9708 , SCR 14706
rushmc 23
such a peaceful bunch
Just like the tea party rallies maybe?
***Bullets are flying over Broadway -- and everywhere else in the city.
The number of people shot surged 154 percent two weeks ago -- to 56 from 22 over the same week last year -- and spiked 28 percent in the last month.
Last week tallied another increase in victims -- 22 people had been hit through Friday, including the three victims gunned down outside a Brooklyn school Friday.
Last year, only 17 shooting victims were logged for the entire week.
The recent gunplay has now pushed the number of shooting victims this year slightly above last year’s tragic tally -- to 1,484 from 1,451 -- through Oct. 16.
[url]http://www.nypost.com/p/news/local/shootings_way_up_in_two_weeks_rajGrOA0bMpTBslidEUgOI
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
rehmwa 2
that's why the numbers are up
you clearly hate baby seals
...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants
rhaig 0
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you clearly hate baby seals
I love baby seals... especially when slow roasted!!
Rob
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