Grab that popcorn and just watch HP'ers. Hopefully you prepared as best you could, although there is no true safe zone. You'll remember this time for the rest of your lives. It's not gonna be pretty.
Although today will be very, very interesting.
I see helicopters.
September 16, 2008
Got helicopters? Lots and lots of helicopters?
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44 comments:
What a piece of crap!
No mention at all of the practices of people like Ken Rosen that got us into this mess. His solution: give out more bad loans.
At least Paulson did one thing right!
"Forget the moral hazzard" my ass, you filthy bastard you!
This guy should be on bill-boards all over the US with this line under his ugly mug...
The reason your life savings has disappeared is because of idiots like me!
Going to work this morning past Manhattan and saw an unusual amount of helicopters. They were flying out of the Federal Reserve and flew a few blocks to Wall Street. Seemed they were overloaded with green paper as it started to come out the windows.
This is a piece of crap! Crisis of Confidence...yea, right, that's what's wrong. Stop forclosures. How the hell will that help? Let's see, let's have Freddie and Fannie cut each and every mortgage by 2/3's and reduce the mortgage interest rate to a 2.5% Fixed and change the term of the mortgages to 10 years. If the mortgage isn't paid off in 10 years, the remaining balance is forgiven and Freddie/Fannie will absorb any loss. This way, everyone can stay in their homes and spend extra money any way they want. This will make housing affordable for all those soon-to-be single income families.
By the way...it's gonna cost way more than a mere $1,000,000,000,000.00
What a piece of crap!
No mention at all of the practices of people like Ken Rosen that got us into this mess. His solution: give out more bad loans.
At least Paulson did one thing right!
===================================
Wow! You got that right! Plus he wants a moratorium on foreclosures? Just another free ride for the deadbeats. What about all the responsible Americans who are still paying their mortgages, and on time. Where's their free ride!
RELAX BUDDY, WE'RE WITH AIG!!!
http://www.youtube.com/watch?v=9VvGW98D3XA
BAWAHAHAHAHAHAHAHAHAHAHAHAHAAAA!!!
DOPES!!!
He would no doubt say "NOW is a good time to buy Real Estate".
Cut the rate 100 bps please.I am going to living in my car soon if this keeps up.Wife beat me up last night cause I lost a million bucks.Time to have some jack this morning.love you guys!!!!!!!1
http://www.conspiracypenpal.com/rants/pretend.htm
"Let's pretend. Pretend along with me for a few moments that it actually matters whether John McCain or Barack Obama assumes the American presidency in January. Gosh - just which of these fine fellows should we elect?
With McCain, we get a crashing economy and WWIII (sung to the tune of "Bomb, Bomb, Bomb, Bomb, Bomb Iran"). With Obama, we get a crashing economy and WWIII. My, oh my. How on earth will we ever decide?"
Give it a read folks. It's great stuff that's 100% accurate. If you're too lazy, just listen here...
http://www.conspiracypenpal.com/rants/pretend16-16.m3u
Honica Jewinski
RE: Government bailouts...
The easy money seems to be drying up, at least for some companies. Lehman Bros. and AIG apparently don't have the proper political connections to get them taxpayer bonus packages.
And speaking of bonus packages, the federal government has refused to pay up to $24 million in exit packages to the chief executives who wrecked Fannie Mae and Freddie Mac.
This news was certainly unexpected!
Seems Un-American to me.
V.L.
Ignoring moral hazard is what fot us into this mess you hydrocephalic idiot!!!!!!
I've been preparing for this for the past year and that was borderline too late....the avg. joe is f%cked!
Did anyone else see this? At the beginning of the Brian Williams show last night he starts along explaining to the sheep that Wall St. and the finance sector are in really bad shape due back to the housing panic.
Then (obviously) they need a picture to help illustrate this point. So they show a grouping of old “For Sale” signs, with one in the center half fallen down. This one, the half fallen down sign read, Call Suzanne bla bla bla.
The picture was only up for about 3 seconds. Just barely enough for me to think, Holy Crap. It’s Suzanne!!!
UPDATE: Paulson,Benny & the Inkjets are working on a bailout plan for AIG.
BOCHICA = Bend over Cause Here It Comes Again.
Miss Goldbug said...
"I see WaMu going under today."
-------------------
This morning, as the ferry pulled into sunny Seattle, I looked up at the WaMu headquarters building and noticed that it was full of cracks, just like in the hilarious graphic of a bank that Keith posted the other day!
So you are probably right.
Meanwhile a clueless acquaintance, who is a WaMu manager, has continued to pour money into his boat all summer. According to his wife, they have ZERO savings aside from a bunch of nearly worthless WaMu stock.
A few months from now, when he is facing foreclosure after losing his job and comes to us asking for some help, I will advise him to first sell the boat, lose the cell phone, cancel the cable TV, stop eating out at restaurants three nights a week and also start bringing a bag lunch to work.
Then if he comes back still asking for help after doing all that, I may relent and offer him some produce from the garden in exchange for his labor there.
Mammoth
"...stop foreclosure..."
AHEM; you lying-sack-of-shit: THEY NEVER STARTED.
So much collateral and other fraud, they PULLED OUT ALL THE STOPS to keep them in pools.
ANYTHING AND EVERYTHING to avoid examining each underlying property.
DOLTS!!!
DOPES!!!
DUMMIES!!!
DINGBATS!!!
Here's where we are headed
with housing:
http://tinyurl.com/6lpm8v
We can all see now that by throwing more money at the problem through tax-payer bail-outs, we're just making the problem far worse.
HB residents are starting to finally open their eyes to the gravity of this problem - they are certainly not immune to the damage heading this way.
Please pardon me for going off topic, but does anyone know what the hell happened to the Merrill Lynch deal?
Thanks.
anyone else feeling like a snapper turtle skewered from mouth to ass on a chinese bamboo stick roasting nicely, fat popping, juices sizzling over a bed of white hot charcoal?
As I predicted yesterday, PPT is at work today to fake a stable market.
The Federal Reserve is the biggest secret society rip-off ever perpetrated in the US.
They're nothing but a bunch of crooked zionists running amok with the money from the American taxpayer.
Are we going to be submissive forever to these zionist crooks? Who elected them? Who are these people? Why there's no one representing the American people during their secret meetings?
We should close that place down and kick their asses all the way back to that POS sandbar they call home.
Here are your interest rates going up! Toooooooooooooo much cash in that helicopter!
http://tinyurl.com/6cemed
Mwauauauauawaaaa
No rate cut, AND no more bailouts, this is when reality sets in folks, enjoy the show, you are surely in for a bumpy ride!
Happiest HPer in the planet
Works_4_a_living
It's pretty amazing to me that shortly after the FFR announcement, stocks should stage a raly, wtf is going on here, is the economic system so perverted that common sense no longer exists.
I suddenly realized, the free market only makes sense if individuals actually feel their own, personal, risk.
This is the reason why the system is so broken.
Great, the American people will become French now. We're all going to live in 100 sq ft studios, sans A/C, and with collective bathroom outside the unit.
Then, we're going to work for the city or state by stamping paper all day or working as "intellectual" waiters, 35 hours per week. Our income will be spent getting drunk on Cafés, posing and faking like we understand Kant and poop pooing every other nationality that walks by.
As the socialist 30-day vacation approaches, we'll be acting like clones of Indiana Jones, with fairy tales that we're planning a trip to hunt for the ark of the covenant in the jungles of South America (in reality we're going to the Club Med close by, just for a week because we're always broke).
Fellow Americans, we can all stop taking showers and cleaning the nails as of now.
What an economic environment! Inflation says your safe cash investment will loose value so you get scared and rationalized into the market, which is also deflationary.
It looks to me like we are in that old recessive cycle where even though your safe cash looses value, in the end there is little of it available. Cash becomes king.
Peoples fortunes are dissolving.
Surprise surprise, the FED held rates at %2 today despite the fact that markets had predicted a %100 chance of a rate reduction. Probably because polls show that the voters don't want any more bailouts.
Dead cat bounce.
Wify went to withdraw some money from Wamu another day. She asked if the manager was worried about the financial events lately. The manager just shrugged it off and told wify that she was pre-approved for a credit card with a huge credit limit. Wify just looked at the girl and said, "Nice shoes", and walked away with all the money to deposit it at the credit union that pays 6% APY.
Why didn't Kevin Rose warn us in advance?
Inside joke for the code monkeys who live in their mom's basement and prey three time a day, on their knees, facing Chicago.
This guy wants to stop forclosures? If someone bought a house they can't afford what would be the justification for keeping them there? The suggestion is absurd. This guy has lost touch with reality. He wants to keep the party going no matter what the cost to taxpayers.
What a knob! Really! How can this guy keep a straight face?
But the thing is, there will always be knobs. It's up to the media to weed them out, call them out and ask some intelligent questions.
The media failed us big time in all of this crap!
Russian market crashes 20% and shuts down...
PHM up.
You wanna get buyers back into the house market? At today's prices, not waiting for tomorrow's lower prices?
Here's how:
FORGET adjustable RATE mortgages. RATES are already into the basement due to fed cuts, bad stock market, slowing economy, etc.
No.
What we need is--someone should invent an adjustable PRINCIPAL mortgage:
I buy a house today at $700K. In two years if (when) a house on the same street sells for $500K, my mortgage balance drops to line up with that price drop.
Supposedly the housing bailout does this for existing homeowners, but only for those who:
- are already in a bad mortgage
- can afford the lower deal
- not already late in payments
- not wealthy
I want this for FUTURE homeowners--it will help make them CURRENT homeowners of houses that are VACANT now.
Of course IT WILL NEVER HAPPEN. Why?
Because the current standard and toxic loans put the RISK on the HOMEOWNER and the PROFIT to the BANK.
My scheme would put the RISK to the BANK and the possible PROFIT (lack of loss) to the HOMEOWNER.
And that's UNAMERICAN. It's CERTAINLY UNREPUBLICAN!!!
And therein lies the paradox--republicans have been so UNAMERICAN lately, but here's something that's both unamerican AND unrepublican.
Great, the American people will become French now. We're all going to live in 100 sq ft studios, sans A/C, and with collective bathroom outside the unit.
To the person who posted this comment you are so ignorant and very uneducated. Speaking from someone who married a French man and has family in Paris, you have no idea what you are talking about. Have you been listening to Bill Oreilly? It is clear why SOME of the french, Well MOST of the French think Americans are lazy over weight, GREEDY, do not enjoy life or their children. They also beleive Americans could care less about educating their children (Maybe the wealthy ones who put their children through Private schools. The French think you are as dumb as the President you elected. America is the new kid on the block who thinks their way is the only way. We use to be a nation that led the world..New technology, freedom...We are just Lazy, self centered nation that cares very little of our very own citizens. We can seriously look each other in the eye and say NO WAY to universal Health care. We are a society of me me me.
I beleive my Parents generation worked hard. I believe the younger generation is not buying into the corporate takeover of this country. Keep it up we will be just like Mexico....No middle class The very wealthy and the poor....So my friend that is just some of the reasons why the French feel sorry for Americans. Its not hate it's Pity.
"borkafatty said...
...anyone else feeling like a snapper turtle...?"
SIZZLIN', Brother!
"...Keep it up we will be just like Mexico..."
That is indeed our future. The Nouveaus are already practicing to become as mean.
And that's setting the bar Really high.
"$85 billion loan would give central bank 80 percent stake in insurance giant."
The government in addition to being the largest mortgage broker is about to become the world's largest insurer.
It hath been foretold.
To the person who posted this comment you are so ignorant and very uneducated. Speaking from someone who married a French man and has family in Paris, you have no idea what you are talking about. Have you been listening to Bill Oreilly?
I'm the one who posted. My grandparents were French immigrants, and I've lived in Paris while attending Universite Sorbonne for a while. I'm fluent in French. As a matter of fact, I'm fluent in four European languages. French people are a bunch of a-holes and only a stupid person would marry one. Please keep your husband in France, since they have pity of Americans. American women don't marry French men, they buy them cheap.
The only reason French people aren't fatter is because 90% of them are chain smokers and alcoholics. Smoke two packs of cigarette a day to see if you don't get slim like Obama.
If Americans were really lazy, the French would be speaking German.
FORGET adjustable RATE mortgages. RATES are already into the basement due to fed cuts, bad stock market, slowing economy, etc.
No.
What we need is--someone should invent an adjustable PRINCIPAL mortgage:
I buy a house today at $700K. In two years if (when) a house on the same street sells for $500K, my mortgage balance drops to line up with that price drop.
Supposedly the housing bailout does this for existing homeowners, but only for those who:
- are already in a bad mortgage
- can afford the lower deal
- not already late in payments
- not wealthy
I want this for FUTURE homeowners--it will help make them CURRENT homeowners of houses that are VACANT now.
Of course IT WILL NEVER HAPPEN. Why?
Because the current standard and toxic loans put the RISK on the HOMEOWNER and the PROFIT to the BANK.
My scheme would put the RISK to the BANK and the possible PROFIT (lack of loss) to the HOMEOWNER.
Banks profit from the interest on the loan, not the rise in the home's value you fool! And if you think banks don't assume risk, tell that to all the failed financial institutions of the last year, many of whom deserved it for making loans to unsophisticated dead beats!
And that's UNAMERICAN. It's CERTAINLY UNREPUBLICAN!!!
No -- your idea will never see the light of day because it's complete stupidity!
And therein lies the paradox--republicans have been so UNAMERICAN lately, but here's something that's both unamerican AND unrepublican.
Your writing indicates you have the naiveté of a college freshman. After you graduate, you need to get a real job and learn how the real world works. Maybe you could even open up a small bank and practice what you preach and see how long you last.
"To the person who posted this comment you are so ignorant and very uneducated."
You mean the rest of the world dosent have crushing dictatorships and horrible living conditions??? SHOCKING!!
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