August 25, 2008

HousingPANIC Quote of the Day

"Here's the problem: If Fannie Mae and Freddie Mac collapsed, then probably the financial system would receive such a body blow that it could be disastrous"

- Barack Obama, August 25, 2008

(here comes the trillion dollar bailout and government takeover HP'ers. But say goodbye to the common stock)

42 comments:

Anonymous said...

Keith,

Greg Swann is advising people to flip in Arizona.

Amazing

RayNLA

Anonymous said...

Take a Load Off Fannie

Hobo

http://theseuncertaintimes.blogspot.com/

Mark in Philly said...

Obama -

The OFFICIALLY endorsed candidate of the HousingPANIC blog...

Anonymous said...

so, if Obama is specifically mentioning Mac & Mac, during his speeches (and McCain is concentrating on Paris and Britney)it must be bad. (remember McCain was a little fuzzy on the economy and he reads more when he mentions it, because he is probably still fuzzy). When I first mentioned to coworkers about Mac & Mae they didn't have a clue who it was, and even now they are still not caring because they don't either care or know of the impact. They must be going down and these are the warnings should anyone heed it. But coming from Obama, most people won't listen because they don't wanna hear what he has to say, whether it will help them or not.

Anonymous said...

Hey maybe Hunter Biden can help. Who is he? That's Joe Biden's son who at the ripe old age of 28 became a sr. vp at MBNA, issuers of lots and lots of credit.

And the fact his dad was a senator from Delaware - where MNBA is based - had nothing to do with it.

Change my ass. Biden is as corrupt as anyone else, including Hussein Obama.

Frank@Scottsdale-Sucks.com said...

Time to let it happen already.

Let's just press the proverbial reset button and get this sh-t over with finally.

Anonymous said...

ha ha, can you say financial stock buying opportunity?

Anonymous said...

Please Keith. Just grab yourself a dozen Happy Graphs and a small handful of Oxycodones, and chill.

Henry Paulson said...

Don't worry banks and investors holding Fannie or Freddie debt, you're secure with my special bubbly government guarantee.

Common stockholders, and taxpayers I need you to take another one for the team. What's another 5 trillion in debt on the 50 trillion you have now? You guys can handle it, you've been doing great so far.

sundry vermin said...

>What's another 5 trillion in debt on the 50 trillion you have now? You guys can handle it, you've been doing great so far.


Yeah, and besides Suzanne says YOU CAN DO THIS!!!!

Anonymous said...

And you are supporting Obama why again?

Anonymous said...

Oh yeah, that's what I call a bull market for stocks:

DOW = -242 pts; -2.08%; -14% YTD
NAS = -2.3%; -11% YTD
S&P = -2%; -14% YTD

How's that "buying on dips strategy" doing for you, geniuses? Are you enjoying the pump & dump ponzi scheme from the crooks on Wall Street? Aren't you tired of losing your shirt, sheeple?

Enjoy your retirement in poverty, stock-picker wizards. Ready to get fleeced next week again? The crooks on Wall Street and retard day traders will call another "bottom" next week. Bwahahahahaha

DOPES

DOLTS

Anonymous said...

Uh-oh, just wondering:

* Biden is 65 years old and will be 70 after a first-term

* Biden voted for the War in Iraq

* Biden's son is a power-lobbyist in Washington:

http://tinyurl.com/56vmth

* Biden has been in Washington politics forever, considered a long time Washington insider for decades.

* Obama is bringing pretty much everyone who has worked for the Clinton administration.

* Obama called the Clintons "old politics" but yet he's giving them two nights on convention.

So how's that any different from the Obama's speech about "Change" and issue re: McCain's age? I know it's hard to many of you, but try to use some common sense here. Do you cultists at least pay attention to these contradictions or you like to be just a blind sheeple? Just wondering.

SUFFERING BRAINSTEMS said...

This is how it works, brainstems. The conservatives destroy the country and the liberals rescue it. Happened several times before. The market cultists turn the country over to the crooks like they did in the 20s. Then the liberals came in and fixed things.

It'll happen again. But you're too ignorant to realize it. That's why I advocate sterilizing you and your fat, stupid offspring so it won't happen again. We should offer a bounty on the young fratboy republicans. We should devote the treasury to isolating the "conservative gene" and wipe the sucker out so we never have to deal with you miscreant pieces of excrement again.

Oh, and work camps. Work camps in the desert for republican voters AFTER we confiscate your meager savings and force you to forfeit your Social Security and Medicare. You didn't like those programs anyway, you should have little problem helping to bail out the country, in the toilet due to your voting habits.

Say hi to the kids for me. Tell them thanks for sacrificing their futures so you could vote republican your whole lives.

GO REAGAN!!!!!

Anonymous said...

My Son, The Lobbyist: Biden's Son a Well-Paid DC Insider

The son of Barack Obama's vice presidential pick, Sen. Joe Biden, is a top partner at a Washington law firm that has lobbied his father's office, a family tie that could prove embarrassing for a campaign that has positioned itself as fighting lobbyists and special interests in Washington.

In the first six months of this year R. Hunter Biden, a founding partner of Oldaker, Biden & Belair, has worked on accounts that brought it $470,000 from nine clients, according to lobbying disclosure records.


http://tinyurl.com/56vmth

If daddy gets elected will be party time!!!

bickerer said...

Well, I almost hate to do this to you guys, but the brainstem had to act up, so here it is.

http://washtimes.com/news/2008/aug/26/the-inconvenient-obama/

Obama's half brother lives on $12 per year. Can you imagine a guy letting his own blood live in agonizing squaller like that. And the ahole says it's the repubs that are mean (don't get me wrong, many of them are, like many human beings are).

In the last five weeks though McCains going to turn up the heat on those attack ads to a level you've never seen before. He's got more amo than he needs.

Anonymous said...

I wonder if all the foreign investors who bought F & F know that we planned this all along!

We have been living off of their cheap money for years! What a party! Wow! And, sadly we can't pay it back!

Reminds me of a TV show about swimming pools, movie stars,... It has been fun! I hope they can take a joke!

Mammoth said...

"Oh yeah, that's what I call a bull market for stocks:

DOW = -242 pts; -2.08%; -14% YTD
NAS = -2.3%; -11% YTD
S&P = -2%; -14% YTD"
--------------------------
Well, there's always GOLD!

Wait a sec...yikes!

keith said...

Side note on the DNC convention - isn't it interesting that the Dems last two VP candidates aren't even invited to the convention?

Dis-func-tion-al

Reality said...

Suffering Brainstems (ex-bitterrenter),

FNM and the whole mortgage securitization innovation were created by the FDR administration in 1937-38. I wouldn't call FDR a liberal either; he was just a blatent fascist.

Speaking of fascists, it's not surprising that you are advocating ehthanasia for the "undesirables." Like I said before, socialists and national-socialists are two sides of the same coin. Bad economy transmutates one phase to the other, and bad economy is quite inevitable under socialist/national-socialist/fascist policies.

mccain in 2008 said...

Brilliant.All we need in another dope in the office who knows nothing.

Vote mccain for change in 2008

I'm john and I approve this message to you dopes.

Anonymous said...

Kieth, I WANT MY hapy graphs! na na na ..... give me my happy graphs, and a toy, and lot of french fries.

bitterrenter said...

It's not strange that the last two democratic VPs aren't coming. Edwards was destroyed by a personal matter (but Larry Craig can suck c*ck in the Minneapolis airport bathroom) and Lieberman is a filthy POS republican now, campaigning for McStain.

I'd rather see democrats disagreeing with each other than republicans who agree to destroy our country.

I'm hoping for the next terror attack to hit the RNC convention. Right smack dab in the middle. KA BOOM!

Anonymous said...

Hey Andrew Hac, so I was here on my balcony, sipping some Bordeaux while admiring the Atlantic Ocean, when my Apple TV/iTunes blasted the song Sni Bong from the group Dengue Fever...and guess which album?

Escape From Dragon House.

Gee, thanks Andrew for making expensive Bordeaux shoot out of my nose.

Anonymous said...

Strange, I don't see John Edwards on the DNC convention. What happened with their favorite union boy?

bwahahahaha...bunch of crooks!

DOPES

Refuse to buy overpriced said...

Here's the real problem: From WWII until the late 1990s, the financial sector was .75% of the economy. By 2006, the credit bubble had ballooned the financial sector to 2.25% of the economy. (source Fortune Magazine)

That is way too many white collar finance majors trying to squeeze too much interest out of the stagnant-wage no-savings working class.

The financial system NEEDS to take a body blow!

Either the rest of the economy needs to triple in size, or the financial sector needs to shrink to restore balance.

Lost Cause said...

8 years of dead money in the stock market. Who gives a shit about Fred & Fannie.

Devestment said...

I truly don’t understand what “the presidency” has become.

It looks like it is a sort of lottery that when won gives the winner king like elitist privileges.

The winner in turn patronizes the financial interests of his constituents.

What a good buy Halliburton and oil were when Bush Cheney took office.

Who owns Obama? I assure you someone does as no one gets as far as he has without media pull and influence.

Who owns McCain?

Are these the questions that reveal the next bubble and wise investment?

I detect a turd in the punchbowl and suspect that my toothbrush is about to be violated again.

les said...

Like I said before, Biden is a shill for the banking industry.

As much as I like Obama, I can't vote for him now. With Biden on the ticket, the great bailout will happen if they're elected.

It seems as though corporate America will get what they want. Someone like Ron Paul, who is above corporate bribes, will always be deliberately marginalized.

Pay Lay Ale 666 said...

"The conservatives destroy the country and the liberals rescue it. Happened several times before. The market cultists turn the country over to the crooks like they did in the 20s. Then the liberals came in and fixed things."

So the liberals fixed things in the 1930's? LOL, that was a depression that lasted nearly a generation.

The Smoot-Hawley Tariff Act was hardly a conservative thing to do. Neither is Welfare Capitalism like was practiced and the 20's and is practiced by Traitor Bush and congress. Neither is printing and creating endless amounts of debt and money.

Who screwed up in the late 70s? Who fixed things? That's right, Reagan. Peace and prosperity lasted for a generation.

Lost Cause said...

(but Larry Craig can suck c*ck in the Minneapolis airport bathroom)

Pretty ironic that they are all having a convention there, isn't it?

Anonymous said...

.


pat lay ale 666 said,

The conservatives destroy the country...

...the liberals rescue it?

To bad you losers can't or don't want to rescue the most innocent of us all!


Do you consider all the abortions a real rescue operation?

You better.

Its within the top 3 of democrat ideals!


.

SUFFERING BRAINSTEMS said...

Yeah idiot brainstem, the liberals were so blamed for the Great Depression that they controlled 81% of Congress by 1938 and Roosevelt won FOUR TERMS.

Let me say that another way: Conservatives dropped to 19% of Congress and were locked out of the White House for 20+ years.

We should have rounded them up then and sent them to forced sterilization work camps. The world would be a better place.

God, I hate you people. I have no problem saying that either. You're evil.

George L said...

divide and conquer...

Happyrenter said...

@Bitter Brainstem (or whatever you are calling yourself this week)

This is the problem: You are hateful and vitriolic for no reason, and against something you don't understand. You scare the crap out of normal people because you say things out your ass, and pretend like what you say has merit or veracity. America generally leans center-right. When people like you talk out of your ass like you do, the natural reflex is to lean even further to the right.

Every time you open your mouth, you are doing that much more damage to your cause. Many people here are more liberal than not, and they go pretty much unchecked. They are free to have an opinion. Many people are more conservative, and that's okay too. You are just a loudmouth douche bag with nothing intelligent to add to a conversation, so when you speak, the natural instinct is to realize you don't know what the hell you are talking about, and vote the opposite.

Personally, I love it. I get to slap around a tard without getting dirty looks from people whenever you post.

Bush is a moron said...

"Suffering Brainstems (ex-bitterrenter),

FNM and the whole mortgage securitization innovation were created by the FDR administration in 1937-38. I wouldn't call FDR a liberal either; he was just a blatent fascist.

Speaking of fascists, it's not surprising that you are advocating ehthanasia for the "undesirables." Like I said before, socialists and national-socialists are two sides of the same coin. Bad economy transmutates one phase to the other, and bad economy is quite inevitable under socialist/national-socialist/fascist policies."

Hey genius, not to cloud things with the facts, but.....

Freddie and Fannie worked just fine for many many years prior to the Bush Administration, through whose policies, the normal conservative underwriters and bankers were replaced with neocons and crooks, and their regulator replaced with a neocon crook. It took Bush and his Cronies 7 short years to destroy an enterprise that helped people buy homes in this Country for 70 years! Damn, now THAT is an accomplishment. Remember that baseball team that Bush owned in Texas, or how about that small oil and gas company that went under? What do you think his next great accomplishment should be? Maybe he can run GM, or maybe have him run the Chinese government.

What a bone head, and anyone that supports his continued policies is just as big of a bonehead, and apparently does not like living prosperously.

Anonymous said...

"...the Minneapolis airport bathroom.."

"Pretty ironic that they are all having a convention there, isn't it?"


There's a joke in there somewhere about being against the filibuster; it's really just a fancy word for stalling.

Reality said...

Suffering Brainstem / ex-bitterrenter,

You think FDR's winning per centage was high? Let's take a look at some of his contemporaries: JS was routinely elected at 98%, AH had 93+% "approval rating."

Just like JS and AH, perhaps to a somewhat less degree, FDR perfected the voting and vote-counting machine. All those government make-belief job positions on the Hoover Dam and TVA had one thing in common in their interview: "are you a registered Democrat?" When the government destroys the economy, and you have to uproot your family then move them half way across the country in search of a job, you think you can still keep your political convictions in the face of that kind of carrot and stick?

Stalin, Hitler and Mao all had 90+% approval ratings among their countrymen as the "Great Men" ran their respective economies to the ground.

BTW, here's Lord Acton's original quote: "Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men." Think about that when you find the urge to worship FDR next time.

Reality said...

"Freddie and Fannie worked just fine for many many years prior to the Bush Administration . . . It took Bush and his Cronies 7 short years to destroy an enterprise that helped people buy homes in this Country for 70 years! "

Obviously you have no clue what you are talking about. Fannie was running into trouble in the late 60's . . . that's why LBJ took it off the Federal government's balance books as the Fed's book was subject to peer review under Bretton Woods. Fannie was more or less insolvent by the early 1970's, and had to be bailed out by the federal government.

Just like all the other ponzi scams set up by FDR, Fannie can only operate when the housing asset base is expanding; any significant downtown immediately renders it insolvent. Apparently, it is not a viable business model to securitize mortgages at below market interest rate with below market lending standards . . . imagine that!

BTW, Fannie and Freddie are run by a bunch of Democrat cronies (like Reines, Clintons' buddie, the man who was paid $130 million for running Fannie to the ground) and supported by Democrats like Dodd.

Reality said...

George I,

Yes, divide and conquer. That's why I have been suspecting that Bitterenter is some paid shill here to promote the interest of bankers who made this mess. . . as he goes out of his way to put down critics of bankers and promoter supporters of bankers who created all this bubble mess.

Anonymous said...

Re Obama's half brother--actually there were 7 more siblings in Kenya.

Having been married to a Kenyan in that same time frame who had a family already and one since ours, we, (my kids and I )never knew the first one, only met the 3rd family after they were grown. It's not like they were pen pals. It was a world away, and Dad wasn't interested. In much of Kenyan/African culture, the Dad takes the kids; here it's the opposite, but once gone, they're gone. I'm surprised he and his Dad ever met again. I think father Obama said it all when he chose Harvard for his own good...

If the kids choose to know one another, that's between them, but it's not obligatory, don't you think?

Refuse to buy overpriced said...

"I have been suspecting that Bitterenter is some paid shill"

Reality, I think you are right.