Posted on 06/14/2011 8:15:28 AM PDT by IMissPresidentReagan
AND NOW . . . amidst billowing clouds of fragrant, aromatic first- and second-hand premium cigar smoke. . . it is time for . . . that harmless, lovable little fuzz ball, the highly-trained broadcast specialist, having more fun than a human being should be allowed to have, from behind the golden EIB microphone, firmly ensconced in the prestigious Attila-the-Hun chair at the Limbaugh Institute of Advanced Conservative Studies, serving humanity simply by showing up, and he’s not retiring until every American agrees with him, do NOT doubt him, with shrieks of joy at the mere mention of his name (that’s Rush, for those in Rio Linda),the Mandarin of Talk Radio, with talent on loan from G-d, at the cutting-edge of societal evolution, with half his brain tied behind his back — just to make it fair, the all-knowing, all-caring, all-sensing, all-feeling, all-concerned Maha-Rushie! America’s anchorman, truth detector, and doctor of democracy. A Real Man, a living legend, a way of life. Commander in Chief of U.S. Operation Chaos. Chief Waga-Waga El Rushbo of the El Conservo Tribe. Chief of the Patriotism Police. Leader of the Conservative Movement. A Weapon of Mass Instruction. El Rushbo (a little Spanish lingo, there). He is the man who is running America (you know it and I know it). He knows the Democrats like every square inch of his glorious naked body. He is ready to do what he was born to do—that’s host. Get ready to what you were born to do—that’s listen (and post your comments on the Rush Limbaugh LIVE Radio Thread).
i just flat out don't believe that
I certainly believe this, The mortgage derivatives levered up the pure risk of the mortgages many fold (20X? 30X? - not sure). The losses on the pure mortgages would have been magnified many, many times over for the derivatives associated with them. But again, no CRA and Justice intervention, no bad mortgages and the derivatives never exist.
missin in this discussion is the outside influences
Soros, hedge funds , skimmin money to the middle east and europe
also missin is the home turn over fraud with ghost vice presidents and bogus documents
lastly, the numbers we all comment about are cooked
there is no accurate bottom line spread sheet
Rush’s “Big Announcement” tomorrow!!
Football team, or little Rush baby?
so what are the numbers?
the total cost of all bad loans is ___________________
the total cost of all bad securities/derivatives/whatever is ____________
“where did the loans come from?”
Wall Street used private mortgage brokers to originate the loans. You might have seen a lot of storefront mortgage houses during the bubble. These were owned by mortgage brokers.
Wall Street extended “warehouse lines of credit” to the mortgage brokers. The brokers would write mortgages against this credit line, and when it was filled the Wall Street firm would take the loans and recharge the credit line. The Wall Street firm would package the loans into CDOs and sell them to investors globally.
” Bush did attempt to introduce reforms that were summarily shot down by the Dems.”
The only reforms I’m aware of were the ones to investigate the way that Fanny and Freddy were issuing bonuses to their executives. Fanny was cooking its books in order to boost bonuses. The Democrats shot down the investigation because Fanny’s corporate officers were Democratic Party hacks.
If you know of other reforms that Dubya was attempting I’d be curious to learn what they are, I’m simply unaware of them.
you forget state protections that added or minimized the real easte risks
example....Texas vs say Arizona and Nevada
in AZ and NV folk were buyin homes and cashin out the equity from day two.....
I know some asshats here in Phoenix w/ 800 plus credit scores who owned 14 homes...took the cash equity and left the country
in Texas not a dime was advanced on equity and why a job can be found in Texas
“i just flat out don’t believe that”
The numbers were run a couple of years ago by Lazard in a research paper for their investors. Lazard is a Wall Street investment house and the study is only concerned with what the data tells them so that they know what securities to avoid. There have been other studies that come to the same conclusion.
.
During the bubble, a friend of mine out in Cali had a home “value” that skyrocketed three fold from his purchase price. Told him near the high point of this “value” to sell, move out of state to buy a house outright and bank the profit.
The house is back down to purchase price and probably 50% of the homes around him are empty.
I knew for a while that when that bubble burst, it was gonna be ugly, but nobody was willing to step in the way to stop it.
I have no clue the exact number...
At least some of the thinking is the dbm wants to prop up Michelle to use her to go against Palin. They desperately need to take Palin out or she takes them out.
Bankster v. Deadbeat Debate… animation here:
Untangling the Foreclosure Mystery— Part 6 - FORCLOSURE FRAUD
.
i can understand that - i don’t think anyone does - which is frustrating - about the largest economic crisis and we have tons of speculation with no real numbers
not easy to avoid making the same mistake when we don’t understand what caused the mistake
the goal is noble - the measures to make it true screwed us
The bad news is that there are numerous narratives on what went wrong in the public domain. The easiest one is "greedy Wall Street bankers"... That's much easier to explain in a 30 second sound bite than the Community Reinvestment Act. But if we "don't know" what caused it then we are highly likely to repeat it. And we are now seeing the Obama administration do the exact same thing that the Clinton Justice department did: A Renewed Crackdown on Redlining
lew rock well ay? Who do you think won the debate last night? Ron Paul?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.