Nice Going You Government Jerks!

[eight6]

[quote][i]Originally posted by SwampThing[/i]
<br>For those who have time to watch, this video makes the sub-prime mess really easy to understand:

<object width="425" height="344"><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/sNupvlgAqas&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>


[/quote]

That's great! Much better than Cured's explanation.

[b]I'm STILL "in the Zone"...where excitement lives!![/b]

[Spit]

[quote][i]Originally posted by eight6[/i]
<br>[quote][i]Originally posted by Spit[/i]
<br>[quote][i]Originally posted by eight6[/i]
<br>Where, oh where is Mod From Another Board? We need you: right here, right now!

[b]I'm STILL "in the Zone"...where excitement lives!![/b]
[/quote]
The last I heard , Mod was on a month long vacation.He should be back by now.
[/quote]

You gotta get better sources.

[b]I'm STILL "in the Zone"...where excitement lives!![/b]
[/quote]
I guess maybe I do need to get better sources for my info.Sorry , jusy trying to help.
So you're still in the Zone eight6? Who are you this time?

[eight6]

[quote][i]Originally posted by Spit[/i]
<br>[quote][i]Originally posted by eight6[/i]
<br>[quote][i]Originally posted by Spit[/i]
<br>[quote][i]Originally posted by eight6[/i]
<br>Where, oh where is Mod From Another Board? We need you: right here, right now!

[b]I'm STILL "in the Zone"...where excitement lives!![/b]
[/quote]
The last I heard , Mod was on a month long vacation.He should be back by now.
[/quote]

You gotta get better sources.

[b]I'm STILL "in the Zone"...where excitement lives!![/b]
[/quote]
I guess maybe I do need to get better sources for my info.Sorry , jusy trying to help.
So you're still in the Zone eight6? Who are you this time?
[/quote]

A bright spark like you can't figure that out? Have Andy do some of his super IP sleuthing, I'm sure he can tell you who I am now.

Oh BTW: from the ZZZZone - "is Bince so stupid that he thinks anyone doesnt know that he IS MOD! need to change his emoticon to BONER!"

Well Andy, you can take pride in the fact you didn't know longer than anyone else...guess that makes you the most stupid of all...LOL!

Thanks for tipping me off about that Spit.

[b]I'm STILL "in the Zone"...where excitement lives!![/b]

[Spit]

[quote][i]Originally posted by eight6[/i]
<br>[quote][i]Originally posted by Spit[/i]
<br>[quote][i]Originally posted by eight6[/i]
<br>[quote][i]Originally posted by Spit[/i]
<br>[quote][i]Originally posted by eight6[/i]
<br>Where, oh where is Mod From Another Board? We need you: right here, right now!

[b]I'm STILL "in the Zone"...where excitement lives!![/b]
[/quote]
The last I heard , Mod was on a month long vacation.He should be back by now.
[/quote]

You gotta get better sources.

[b]I'm STILL "in the Zone"...where excitement lives!![/b]
[/quote]
I guess maybe I do need to get better sources for my info.Sorry , jusy trying to help.
So you're still in the Zone eight6? Who are you this time?
[/quote]

A bright spark like you can't figure that out? Have Andy do some of his super IP sleuthing, I'm sure he can tell you who I am now.



[b]I'm STILL "in the Zone"...where excitement lives!![/b]


[/quote]
A "bright spark" like me understands that I should not have to figure it out.

[eight6]

[quote][i]Originally posted by Spit[/i]
<br>[quote][i]Originally posted by eight6[/i]
<br>[quote][i]Originally posted by Spit[/i]
<br>[quote][i]Originally posted by eight6[/i]
<br>[quote][i]Originally posted by Spit[/i]
<br>[quote][i]Originally posted by eight6[/i]
<br>Where, oh where is Mod From Another Board? We need you: right here, right now!

[b]I'm STILL "in the Zone"...where excitement lives!![/b]
[/quote]
The last I heard , Mod was on a month long vacation.He should be back by now.
[/quote]

You gotta get better sources.

[b]I'm STILL "in the Zone"...where excitement lives!![/b]
[/quote]
I guess maybe I do need to get better sources for my info.Sorry , jusy trying to help.
So you're still in the Zone eight6? Who are you this time?
[/quote]

A bright spark like you can't figure that out? Have Andy do some of his super IP sleuthing, I'm sure he can tell you who I am now.



[b]I'm STILL "in the Zone"...where excitement lives!![/b]


[/quote]
A "bright spark" like me understands that I should not have to figure it out.
[/quote]

There you go...so stop digging on Andy's behalf. Let "the little genius" figure it out for himself.

[b]I'm STILL "in the Zone"...where excitement lives!![/b]

[Spit]

[quote][i]Originally posted by eight6[/i]
<br>[quote][i]Originally posted by Spit[/i]
<br>[quote][i]Originally posted by eight6[/i]
<br>[quote][i]Originally posted by Spit[/i]
<br>[quote][i]Originally posted by eight6[/i]
<br>[quote][i]Originally posted by Spit[/i]
<br>[quote][i]Originally posted by eight6[/i]
<br>Where, oh where is Mod From Another Board? We need you: right here, right now!

[b]I'm STILL "in the Zone"...where excitement lives!![/b]
[/quote]
The last I heard , Mod was on a month long vacation.He should be back by now.
[/quote]

You gotta get better sources.

[b]I'm STILL "in the Zone"...where excitement lives!![/b]
[/quote]
I guess maybe I do need to get better sources for my info.Sorry , jusy trying to help.
So you're still in the Zone eight6? Who are you this time?
[/quote]

A bright spark like you can't figure that out? Have Andy do some of his super IP sleuthing, I'm sure he can tell you who I am now.



[b]I'm STILL "in the Zone"...where excitement lives!![/b]


[/quote]
A "bright spark" like me understands that I should not have to figure it out.
[/quote]

There you go...so stop digging on Andy's behalf. Let "the little genius" figure it out for himself.

[b]I'm STILL "in the Zone"...where excitement lives!![/b]
[/quote]
Well ,What I really meant to say was that you have nothing to hide from eight6.Come on over to the Zone tonight as yourself.It sure has been awhile . [:)]

[phillyidol]

<a href="http://s117.photobucket.com/albums/o47/phillyidol/?action=view¤t=positive6.jpg" target="_blank"><img src="http://i117.photobucket.com/albums/o47/phillyidol/positive6.jpg" border="0" alt="Photobucket"></a>


again





Worlds GREATEST Photographer!

[Spit]

[quote][i]Originally posted by phillyidol[/i]
<br><a href="http://s117.photobucket.com/albums/o47/phillyidol/?action=view¤t=positive6.jpg" target="_blank"><img src="http://i117.photobucket.com/albums/o47/phillyidol/positive6.jpg" border="0" alt="Photobucket"></a>





Worlds GREATEST Photographer!
[/quote]
Finally ! After all these years a picture of philly. [:o)]

[phillyidol]

LOL! Actually he is much better looking than me.




Worlds GREATEST Photographer!

[SallyLightfoot]

DJCraig-- The government agencies are not the cause of this crisis. They had a hand in it, but if anything this problem blew up because of lax regulation, not too much government involvement. See this economists blog for some discussion:

http://economistsview.typepad.com/econo ... -it-w.html

In addition to SwampThing's excellent primer of the crisis, here's one of the better explanations I've seen:

[b]The Crisis Explained - Really[/b]

Joe goes to the track and bets $2 on a horse.

Two guys standing nearby get into a discussion and Fred says to Sam, "I'll bet you $5 that Joe wins his bet."

Next to them are Bill and Bob. Bill says: "I'll bet you $10 that Fred welshes on his bet if he loses."
Next to them is Sally. Sally says: "For $3 I'll guarantee to Bill that if Bob fails to pay off, I'll make good on the bet."

Sally then goes to Mary and borrows the $7 needed in case she has to ever pay off and promises to pay back $8. She doesn't expect to ever have to pay since she believes Bob will always make good. So she expects to net $2 no matter what happens to Joe.

A quick calculation indicates that there is now 2 + 5 + 10 + 3 + 7 = $27 riding on the outcome of the horse race.

Question: How much has been "invested" in the horse race?

Answer: $50,000 by the owner of the horse who is expecting to recoup his investment from the winnings of the horse and other future deals. Everyone else is gambling, not investing.

The issue with the home market is that the only "investor" was the person who bought the home. All those engaged in the meaningless derivatives spun off from this are gambling. You can see how quickly the face value of all these side bets can exceed the underlying investment. Who is holding these side bets - not the homeowner? It is the people at the failing investment banks, hedge funds and similar enterprises. Notice that the bailout is being directed at them not the homeowners.

The real world is, of course, even more complicated. Over the last 30 years people have been allowed to place bets on everything starting with the value of stock averages. They might as well bet on the temperature in Newark at 8:00 AM.

So when you hear everybody saying this is a crisis caused by the housing collapse, be skeptical. We are in the midst of a classic pyramid or Ponzi scheme and there is no way out except for people to lose a lot of money. All that is different this time is that it is the taxpayers who are being asked for the cash.

[club80]

Philly...I believe it's your turn.

We didn't sell a lot of records, but somehow we left an impression.
-Johnny Ramone-

[SallyLightfoot]

[quote][i]Originally posted by Cured[/i]
<br>Sally, the regulations had to be lax because
it was the only way left to spur the economy to
service the debt.
[/quote]
The market collateralized mortgages emerged, and once that market became a huge global investment hit (US treasuries had very low yields during this period), it needed to be fed. Once all of the people who wanted a home and who qualified for a home actually bought a home, this market was still insatiable for these securities. The new standard for issuing mortgages morphed from being "Can this person afford this loan?" to "Can we sell this loan into the CMO market?", and that's where the real trouble started. It is true that the Clinton administration allowed this bubble to seamlessly replace the dot com bubble. Greenspan was on board with this, and low-interest easy-money policy combined with the burgeoning CMO market allowed this to benefit the current administration.

[Bitter Almonds]

[quote][i]Originally posted by djcraig[/i]
<br>The creation of government backed loan entities like FNMA and FHLMC made this all possible. It was a government attempt to help "the little guy", who had trouble getting a loan. Unfortunately, it gave banks the go ahead to make questionable deals and ultimately not have to deal with the consequences.

Giving banks the power to make bad loans that they ultimately didn't have to be responsible for was a bad idea. Now we all, get to pay for it. Even the best of intentions go awry when there is no accountability. Something many have yet to learn.

When the government gets involved in "improving" your life, watch out! Our public school system is a joke. Our tax system is retarded. The Post Office is unprofitable while UPS and Fed Ex make millions.

The bigger the government becomes, the more scandals and corruption we get. And yet some continue to push for more taxes, more bureaucracy and more intrusion into their lives. That's not the answer, it is the problem!

You think this current situation sucks, just wait until we get "universal" health care. Put the people that brought you FEMA in charge of your medical needs. I'm sure no one will take advantage of THAT system at OUR expense.

Can you imagine these purveyors of waste, inadequacy and incompetence in charge of approving your medical procedures and ultimately telling your doctor whether or not he can perform a life saving act?

I don't want to have to wait to get some potentially terminal illness treated for my paperwork to get stamped by some fat fuck behind a big desk who wasn't even qualified for the job in the first place but got hired because of some government mandated quota and now, no matter how many mistakes they make, can't be fired for the fear of a discrimination lawsuit.

Fuck I'm moving to Mars!





<a href="http://www.djcraig.net/los_angeles_dj">DJ Craig</a>


[/quote]

<p align="justify">Hey, let's also privatise the police and the firemen and the military. We all know what great failures they all have been when they're run by the govt.[}:)]

[coop41]

[quote][i]Originally posted by SallyLightfoot[/i]
<br>[quote][i]Originally posted by Cured[/i]
<br>Sally, the regulations had to be lax because
it was the only way left to spur the economy to
service the debt.
[/quote]
The market collateralized mortgages emerged, and once that market became a huge global investment hit (US treasuries had very low yields during this period), it needed to be fed. Once all of the people who wanted a home and who qualified for a home actually bought a home, this market was still insatiable for these securities. The new standard for issuing mortgages morphed from being "Can this person afford this loan?" to "Can we sell this loan into the CMO market?", and that's where the real trouble started. It is true that the Clinton administration allowed this bubble to seamlessly replace the dot com bubble. Greenspan was on board with this, and low-interest easy-money policy combined with the burgeoning CMO market allowed this to benefit the current administration.
[/quote]


Dead On!

[djcraig]

[quote][i]Originally posted by XXX[/i]
<br>[quote][i]Originally posted by djcraig[/i]
<br>The creation of government backed loan entities like FNMA and FHLMC made this all possible. It was a government attempt to help "the little guy", who had trouble getting a loan. Unfortunately, it gave banks the go ahead to make questionable deals and ultimately not have to deal with the consequences.

Giving banks the power to make bad loans that they ultimately didn't have to be responsible for was a bad idea. Now we all, get to pay for it. Even the best of intentions go awry when there is no accountability. Something many have yet to learn.

When the government gets involved in "improving" your life, watch out! Our public school system is a joke. Our tax system is retarded. The Post Office is unprofitable while UPS and Fed Ex make millions.

The bigger the government becomes, the more scandals and corruption we get. And yet some continue to push for more taxes, more bureaucracy and more intrusion into their lives. That's not the answer, it is the problem!

You think this current situation sucks, just wait until we get "universal" health care. Put the people that brought you FEMA in charge of your medical needs. I'm sure no one will take advantage of THAT system at OUR expense.

Can you imagine these purveyors of waste, inadequacy and incompetence in charge of approving your medical procedures and ultimately telling your doctor whether or not he can perform a life saving act?

I don't want to have to wait to get some potentially terminal illness treated for my paperwork to get stamped by some fat fuck behind a big desk who wasn't even qualified for the job in the first place but got hired because of some government mandated quota and now, no matter how many mistakes they make, can't be fired for the fear of a discrimination lawsuit.

Fuck I'm moving to Mars!





<a href="http://www.djcraig.net/los_angeles_dj">DJ Craig</a>


[/quote]

<p align="justify">Hey, let's also privatise the police and the firemen and the military. We all know what great failures they all have been when they're run by the govt.[}:)]
[/quote]

Finally, someone gets it!

And NASA too... I want my own rocket!



<a href="http://www.djcraig.net/los_angeles_dj">DJ Craig</a>