Sunday Morning Talk Show Thread 21 September 2008

Various driveby media television networks ^ | 21 September 2008 | Various Self-Serving Politicians and Big Media Screaming Faces

[rodguy911]

Sounds like Hillary's buddies (buddiettes) are still alive and well at the IRS....

[McGruff]

I turned off Chris Wallace when I heard him use the 1 trillion dollar number. Apparently the left think it sounds so much better than 700 billion. The real estimate.

[snugs]

Also I think because of McCain Maverick reputation which many see as bipartisan personally that is more coincidence than fact IMHO. He will go with the side he agrees with rather than to be bipartisan but if viewed as bipartisan by the dems in Congress this could help and actually ensure that a few things that GWB tried but failed with actually happen.

I just hope the in the fullness of time the average person realises that the current President did try but due to unprecedented media attacks and what has morphed into BDS could never hope to achieve what he so desperately wanted to do and that was to change the tone in Washington.

[TomGuy]

An abbreviated history of part of the current economic crisis:

RE: The housing loans crisis

Investors Default On Outsize Share Of Home Loans
Wall Street Journal ^ | August 31, 2007 | MICHAEL CORKERY and JAMES R. HAGERTY

Posted on Saturday, September 01, 2007 8:22:34 PM by CutePuppy

Investors played a big role in pumping up home prices during the housing boom. Now, they account for an outsize proportion of loan defaults, mortgage bankers and builders say.

A survey by the Mortgage Bankers Association found that mortgages on properties that aren't occupied by the owner -- mostly investment homes -- account for between 21% and 32% of the defaults on prime-quality home loans in Arizona, California, Florida and Nevada, states where overdue payments are mounting fast.

Home Loans to Illegal Immigrants Sturdy But Show Some Cracks
The Washington Times ^ | 10-6-07 | Miriam Jordan

Posted on Wednesday, October 17, 2007 12:30:51 PM by JZelle

Despite the downturn of the mortgage market, a type of home loan has remained surprisingly sturdy: one extended to illegal immigrants.

Home Loans for Illegal Immigrants [no Social Security number? No legal residency? No Problem!]
ABC30.com ^ | November 19, 2005

Posted on Sunday, November 20, 2005 8:23:27 AM by John Jorsett

For many, it's the American dream: owning a home. With the recent spike in housing costs, it's become more difficult for many Valley families to qualify for a home loan. But some local banks are giving out loans, and they don't even require a social security number.

More articles of this type are available via Google Search: immigrants home loans.

==

And the politicians in Washington never saw this crisis coming?????

Politicians' motto: Ignorance is bliss.

[Sunnyflorida]

Buying AIG is likely going to be a good deal for the tax payer.

It was an $85B 79.9% convertable preferred at 12% and subs all the debt. The Treasury can dump all the paper back on the counterparties and sell off the insurance companies at a profit. If I had $85B and power to sub the debt. I would do this deal also.

It is a great trade.

Saving MSH, GSH, and MER or allowing them to merge with FDIC insured entities is a huge mistake and probably a NYC area jobs bill.

[rodguy911]

Exactly, its hard to change the basics of equity without someone paying the price, things don't go up forever. Sooner or later they go down.

[McGruff]

RAISING TAXES IS NOT PATRIOTIC.

I love it.

[SkyPilot]

Free Republic's Admin Moderators

Come on Alas!

We all know they look like this:

[snugs]

One wonders whether they would have risked their charity status is Hilliary had turned up.

[longtermmemmory]

hence the post 2005 incentive to mega inflate the value.

banks could then do 100% loans and the borrower could second mortgage the down payement.

[rodguy911]

We are slowly but surely uncovering how the rats steal election after election. We had a thread yesterday, don't have the link right now, that showed how Boma is trying to register college students in VA. to vote even though they live elsewhere.

He does it through intimidation of course and of course those in power back down every time.

[Morgan in Denver]

Morning snugs,

I agree with you. I hope your analysis extends to others in the UK.

BDS is more real than Krauthammer ever thought it would be when he used it.

[SkyPilot]

RAISING TAXES IS NOT PATRIOTIC. I love it.

I bet you are 'rich.' You are gonna have to pay - Big Time. Hey! Is that Chuck over there? Stand up Chuck!

[snugs]

I think that probably one of the problems here that he spends a far amount of time involved with European politics and when you compare what a socialist is in Europe to what is considered a socialist or far left winger in the US it is not quite the same.

Maybe this is why with certain of Hilliary’s policies he would not be able to say she is a socialist.

[ThreePuttinDude]

We need to start calling the media what they are "The Media"
They are not Mainstream
No matter how many times Ted Kennedy, Biden, Schumer, etc.
try to force us to believe they are main stream, they are not.

[rodguy911]

Problem is that puts the US govt. in business. Things might go well with conservative Republicans in control. What happens when the wrong people get in control? How will that business be run? We already know that answer.

[Alas Babylon!]

LOL!

You!

[csmusaret]

It would be impossible to under estimate my loathing for the US Congress. If you examine any problem this country faces, or has faced in the past 35 years, you cannot escape the fact that Congress bears the lions share of blame. I know it is fun to point at cretins like Durbin, Schumer, Leahy, Reid, Pelosi etc., but the Republicans are no angels either. Presidents come and Presidents go, but Congress remains. They have the power to override vetoes so they bear ultimate responsibility for everything that happens or fails to happen. Since I am blaming Congress the institution I can not give Republicans a pass. You are either part of the solution or you are part of the problem, and Republican Congress critters are complicit. I know a lot of people will say “Yeah Congress sucks, but my Congress Critter is really great.” To that I say if you don’t want to be called a pig, quit wallowing around in the sty. Not only has our Congress failed us miserably, they continue to do so today and have the audacity to do so at our expense.

[rodguy911]

I am afraid that is my question as well. Although from what I heard on CNBC, AIG was about to go under really quick.

Once again I am not a business tycoon nor do I play one,this is all a bit over my head.

[Bernard]

From a show I saw on Saturday (Journal Editorial Report?) AIG was working on a deal for about $10 Billion a few weeks ago, but thought the government would give them a better deal.