OH LORD
- Thread starter Drew99GT
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The story changes every day by the hour on money.cnn.com, can you be more specific?
The baliout failed an the dow is down 600 points!!!
Kestas
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Originally Posted By: article
... Under the bill, Wall Street executives who already have golden parachutes are likely to keep them even if their companies get government help.
"We're not abrogating contracts," said a Treasury official who briefed reporters Sunday...
As I read it, the Treasury says the Bill goes against the contracts the firms have with their fat-cat CEOs.
How lame. All the Treasury has to say is that their intention is not to force the comnpany to break their contract, but that receiving a bailout is under condition that the CEOs voluntarily give up their golden parachutes.
Otherwise I guess they don't want the bailout money.
... Under the bill, Wall Street executives who already have golden parachutes are likely to keep them even if their companies get government help.
"We're not abrogating contracts," said a Treasury official who briefed reporters Sunday...
As I read it, the Treasury says the Bill goes against the contracts the firms have with their fat-cat CEOs.
How lame. All the Treasury has to say is that their intention is not to force the comnpany to break their contract, but that receiving a bailout is under condition that the CEOs voluntarily give up their golden parachutes.
Otherwise I guess they don't want the bailout money.
Originally Posted By: Drew99GT
The baliout failed an the dow is down 600 points!!!
Yep, it officially failed. Market has lost confidence big time. Crazy times ya'll.
The baliout failed an the dow is down 600 points!!!
Yep, it officially failed. Market has lost confidence big time. Crazy times ya'll.
We need to stop looking to the same crooks who caused this for the solution.
Maybe just maybe we can stop spending money.....
Maybe just maybe we can stop spending money.....
Originally Posted By: Pablo
Maybe just maybe we can stop spending money.....
We're not going to be spending 700 billion as of now, that's for sure!!!
Maybe just maybe we can stop spending money.....
We're not going to be spending 700 billion as of now, that's for sure!!!
Originally Posted By: Pablo
We need to stop looking to the same crooks who caused this for the solution.
Maybe just maybe we can stop spending money.....
I agree 100%. Its like shoveling money into a black hole.
We need to stop looking to the same crooks who caused this for the solution.
Maybe just maybe we can stop spending money.....
I agree 100%. Its like shoveling money into a black hole.
The egg toss has ended? Doubt it.
...wait until hyper inflation kicks in. Back to 1981 only worse.
Btw, of those bad mortgages, less than 50% were from the CRA.
Robert Gordon has pointed out that approximately half of the loans were made by independent mortgage companies that were not regulated by the CRA, and thus had no government obligation to offer credit to minorities. In the later part of the crisis, these mortgage companies made subprime loans at twice the rate of CRA banks. Another third of the major subprime lenders were regulated, but had very little CRA involvement.
Btw, of those bad mortgages, less than 50% were from the CRA.
Robert Gordon has pointed out that approximately half of the loans were made by independent mortgage companies that were not regulated by the CRA, and thus had no government obligation to offer credit to minorities. In the later part of the crisis, these mortgage companies made subprime loans at twice the rate of CRA banks. Another third of the major subprime lenders were regulated, but had very little CRA involvement.
What scares me is that FDIC is essentially run the same way as social security. The premiums are invested in US treasuries, just like the SS trust fund. So in essence, the FDIC premiums banks pay to insure your money - that money is gone and spent by the federal government.
Originally Posted By: buster
In the later part of the crisis, these mortgage companies made subprime loans at twice the rate of CRA banks. Another third of the major subprime lenders were regulated, but had very little CRA involvement.
And then these mortgages were swept off of balance sheets through credit default swaps on MBOs.
We need a dramatic overhaul of banking in derivative securities and generally accepted accounting principles when dealing with derivative securities. That's 90 % of the problem since no one knows what the [censored] a credit default swap is and how to account for and value them.
In the later part of the crisis, these mortgage companies made subprime loans at twice the rate of CRA banks. Another third of the major subprime lenders were regulated, but had very little CRA involvement.
And then these mortgages were swept off of balance sheets through credit default swaps on MBOs.
We need a dramatic overhaul of banking in derivative securities and generally accepted accounting principles when dealing with derivative securities. That's 90 % of the problem since no one knows what the [censored] a credit default swap is and how to account for and value them.
You need to study the failure rate as well.
Probably outlawing stupidity will help as well: Trouble in Europe !
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so what's gonna happen now?
Can someone tell me as if i were a 5 yr old?
Can someone tell me as if i were a 5 yr old?
Originally Posted By: 97tbird
so what's gonna happen now?
Can someone tell me as if i were a 5 yr old?
You're going to need a semi trailer full of dollar bills (or a small gold nugget) to purchase a loaf of bread.
so what's gonna happen now?
Can someone tell me as if i were a 5 yr old?
You're going to need a semi trailer full of dollar bills (or a small gold nugget) to purchase a loaf of bread.
Originally Posted By: Drew99GT
Originally Posted By: 97tbird
so what's gonna happen now?
Can someone tell me as if i were a 5 yr old?
You're going to need a semi trailer full of dollar bills (or a small gold nugget) to purchase a loaf of bread.
That's what happens IF the bill passes in present form. Actually now we may be in for some deflation.....
Originally Posted By: 97tbird
so what's gonna happen now?
Can someone tell me as if i were a 5 yr old?
You're going to need a semi trailer full of dollar bills (or a small gold nugget) to purchase a loaf of bread.
That's what happens IF the bill passes in present form. Actually now we may be in for some deflation.....
Originally Posted By: 97tbird
so what's gonna happen now?
Can someone tell me as if i were a 5 yr old?
Your happy meal will now cost $7.99.
so what's gonna happen now?
Can someone tell me as if i were a 5 yr old?
Your happy meal will now cost $7.99.
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