tag:blogger.com,1999:blog-18675105.post7449578087479850550..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: The world as you knew it changed tonight. America is not the country you thought it was. And this day will live in infamy.bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger79125tag:blogger.com,1999:blog-18675105.post-46218692854957728932008-09-29T22:42:00.000+01:002008-09-29T22:42:00.000+01:00If I've posted it once, I' ve posted it at least a...If I've posted it once, I' ve posted it at least a dozen times on this board :<BR/><BR/>THE U.S. FEDERAL GOV'T IS THE SINGLE BIGGEST ENEMY OF THE PEOPLE OF THE UNITED STATES.<BR/><BR/>Bigger than OBL.<BR/>Bigger than all of Al-Qaeda.<BR/><BR/>U.S. Federal Gov't is EVIL. PURE EVIL.<BR/><BR/>And months ago you just thought that a was a "kook" idea.<BR/><BR/>GET IT NOW?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-42645555705000968462008-09-29T16:53:00.000+01:002008-09-29T16:53:00.000+01:00wheres dopes now?wow, now its spreading to europe....wheres dopes now?<BR/>wow, now its spreading to europe....strap yourselves in, finally it all comes tumbling down.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-61431446401490910052008-09-29T16:20:00.000+01:002008-09-29T16:20:00.000+01:00Anonymous September 29, 2008 1:38 AM:"Has a revers...Anonymous September 29, 2008 1:38 AM:<BR/><BR/>"Has a reverse mortgage on it of $90 that my father used since 2003. Can't believe it, ususally very conservative with money..but guess the Bush bullshit of 'spend money to help the economy' got to him."<BR/><BR/>'Bush bullshit' didn't get to anyone. Your parents are/were broke.<BR/><BR/>"Just left her crying her heart out. She says I am too negative. I say, these are the facts and we have to deal with it."<BR/><BR/>I think your mom called a spade a spade is all. People who get told they are too negative usually are. A guy I work with is the same way...so 'n so says he is too negative now...blah blah...and the guy has an obvious chip on his shoulder and a huge maturity problem. Look in the mirror for a change - it isn't that nobody doesn't hear you, it's that nobody cares because they hear it from you all the time.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-5044369465736932772008-09-29T15:47:00.000+01:002008-09-29T15:47:00.000+01:00In our house we won't be voting .There's no one we...In our house we won't be voting .There's no one we feel that supports our values.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8158590351636181672008-09-29T14:12:00.000+01:002008-09-29T14:12:00.000+01:00"We have an administration which illegally disband...<I>"We have an administration which illegally disbanded habeus corpus."</I><BR/><BR/>...for illegal foreign combatants who can slip into and out of the civilian population at will. The Magna Carta was intended to benefit the subjects of King John not, for example, the Sacacens of the crusades or for French partisans.<BR/><BR/>Despite the attempt to hang this financial crisis on GWB, I say the actions of the Clinton Administration deserve more scrutiny. According to Ann Coulter's most recent online column, it strongly encouraged banks to give mortgages to people who did not have a prayer of repaying the loans. The column did not mention that it also helped greatly in the bi-partisan action to overturn the Glass-Steagall Act.<BR/><BR/>Also in regards to Patrat, I recall the lyrics to Me & Bobby McGee as "Freedom's just another word for nothin' left to lose, And nothin' ain't worth nothin' but its free." You may be referring to Bob Dylan's Like A Rolling Stone "When you've got nothing, you've got nothing to lose."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-13577942992180736532008-09-29T14:09:00.000+01:002008-09-29T14:09:00.000+01:00I hope the history books get it right.Greenspan Bu...I hope the history books get it right.<BR/><BR/>Greenspan Bush and Benanke.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-31685634068732547832008-09-29T12:49:00.000+01:002008-09-29T12:49:00.000+01:00Doing Something?By John BerlauPublished 9/29/2008 ...Doing Something?<BR/>By John Berlau<BR/>Published 9/29/2008 12:09:13 AM<BR/><BR/>"The government has to do something to keep markets from falling and the economy from getting worse." How many times have you heard that mantra this past week from President Bush, Treasury Secretary Hank Paulson, Democrat leaders, the news media, and even some ostensibly conservative periodicals?<BR/><BR/>But what if the bailout, as originally proposed and in its latest incarnation, would spend $700 billion of taxpayers' money and actually make the economy worse? Believe it or not, there is good evidence this may happen. The inflationary prospects of the bailout price tag may lead to spikes in oil and crop prices that could hit ordinary Americans in their cars and on their kitchen tables. And government purchases of financial assets could ironically further constrain credit through causing write-downs on even the balance sheets of financial firms not participating in the bailout by worsening the effects of mark-to-market accounting rules.<BR/><BR/>http://www.spectator.org/dsp_article.asp?art_id=13959Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81162960161157995962008-09-29T07:31:00.000+01:002008-09-29T07:31:00.000+01:00To all the Trolls who frequent this blog, particul...To all the Trolls who frequent this blog, particulary the Flippers, Real Estate Agents, Brokers, etc:<BR/><BR/>Do you read the draft of the bill:<BR/><BR/>NO HELP for Struggling Homeowners!<BR/><BR/>FU*K YOU! <BR/>This is just for the Big Dogs! <BR/> <BR/>HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA!!!!!!<BR/>Maybe you can go hire some HO with whatever little money you have left over from your FU%KING HELOC and cash out one last snort of Coke!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-75988595458898373882008-09-29T07:12:00.000+01:002008-09-29T07:12:00.000+01:00Is the largest zaibatsu really waiting for an invi...Is the largest zaibatsu really waiting for an invitation.<BR/><BR/>http://www.theaustralian.news.com.<BR/>au/story/<BR/>0,25197,24397842-20142,00.html<BR/><BR/>Japanese banks come to Wall Street's rescue<BR/><BR/>SUMITOMO Mitsui Financial Group, the third of Japan's "megabank" operations, was last night awaiting an invitation from Goldman Sachs to invest up to $US2.8 billion ($3.3 billion) in the Wall Street bank's recapitalisation.<BR/><BR/>Mitsui Group is one of the largest corporate conglomerates (Keiretsu) in Japan and one of the largest publicly traded companies in the world.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-79117457456296236502008-09-29T07:06:00.001+01:002008-09-29T07:06:00.001+01:00I don't know what to say...I love America and ...I don't know what to say...I love America and I'm grateful for the opportunities I've had here, but Keith is right this really is a turning point in the direction of the U.S. It's incredibly frustrating to see this bill go through. Greed, materialism & selfishness got the best of our Wall Street Banker Boyz and a lot of citizens too. Lots of blame to go around.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-17944808332531017482008-09-29T07:06:00.000+01:002008-09-29T07:06:00.000+01:00Who are the Zaibatsuhttp://en.wikipedia.org/wiki/Z...Who are the Zaibatsu<BR/><BR/>http://en.wikipedia.org/wiki/Zaibatsu<BR/><BR/>http://www.sjsu.edu/faculty/<BR/>watkins/zaibatsu.htmAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-73627503637990764262008-09-29T07:05:00.000+01:002008-09-29T07:05:00.000+01:00Did the Zaibatsu save Goldman Sachs, if so what wa...Did the Zaibatsu save Goldman Sachs, if so what was in it for the Zaibatsu<BR/><BR/>http://marketview.blogspot.com/<BR/>2006/10/goldman-sachs-investment<BR/>-bank-or.html<BR/><BR/>Goldman Sachs: Investment Bank or Zaibatsu?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-28670837023988902752008-09-29T07:03:00.000+01:002008-09-29T07:03:00.000+01:00How did Goldman Sach become so big after a fiasco ...How did Goldman Sach become so big after a fiasco like the Southland Deal.<BR/><BR/>http://money.cnn.com/magazines/<BR/>fortune/fortune_archive/<BR/>1987/12/07/69939/index.htm<BR/><BR/>LBOs ARE TAKING THEIR LUMPS <BR/><BR/>Leveraged buyout companies are now facing pinched cash flows, reduced prices for assets, and a suddenly cautious junk bond buyer. Were their critics right after all?<BR/><BR/>The Southland saga is not over and the players are making urgent efforts to see that the show goes on. <BR/><BR/>But critics of LBOs and of the huge fees they generate for Wall Street are chortling to see Goldman and Salomon trapped in their $600 million bridge loan. <BR/><BR/>Caught with them are a few of their institutional customers on whom the two firms had laid off part of the risk. <BR/><BR/>Around Salomon, these folk are known as ''the bridge club.'' The hand they are holding now is none too good. <BR/><BR/>Southland's troubles and those of some other recent deals stem partly from the bull market that prevailed earlier this year.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-42983774604559449762008-09-29T06:52:00.000+01:002008-09-29T06:52:00.000+01:00Agreed house prices are still too high. Look the B...Agreed house prices are still too high. Look the Bush admin financed the Iraq Oil War with liar loans.<BR/><BR/>I have proof. Greenspan counselled Bush to secure the oil in Iraq prior to the war. Then Greenspan encouraged adjustable loans in early 2004, remember?<BR/><BR/>Bottom line, the fed's footprints are all over Bush's evil deeds, from start to finish.<BR/><BR/>And the neocons were the facilitators, from wanting a 9/11 type event in 2000, to wanting a pax americana with oil domination and the surrounding of Russia.<BR/><BR/>The fed and the neocons are on the same page and they are DANGEROUS to world peace.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-32592455038239098312008-09-29T06:49:00.000+01:002008-09-29T06:49:00.000+01:00Hanky Panky what are really you up to.http://dealb...Hanky Panky what are really you up to.<BR/><BR/>http://dealbook.blogs.nytimes.com/<BR/>2008/06/30/what-really-killed-<BR/>bear-stearns/<BR/><BR/>Did Bear Stearns melt down — or was it murdered?<BR/><BR/>Mr. Dimon then called the New York Federal Reserve and worked out a deal where the government would lend the money to JPMorgan, which would then lend it to Bear Stearns. Bear would live another day — but just a few more. <BR/><BR/>Bear executives thought they had 28 days to pay the money back. <BR/><BR/>The article recounts a conversation that Mr. Schwartz had with federal officials informing him that he had far less time than he thought:<BR/><BR/> Schwartz’s phone rang. <BR/><BR/>It was Tim Geithner of the Fed, with the Treasury secretary, Hank Paulson. Paulson came right to the point. <BR/><BR/>You’ll recall I told you when we cut this facility [that] your fate was no longer in your hands,’ he told Schwartz. ‘Well, we don’t plan on being here on Sunday night like we were last night. <BR/><BR/>You’ve got the weekend to do a deal with J.P. <BR/><BR/>Morgan or anyone else you can find. But if you’re not done by Monday, we’re pulling the plug.’ <BR/><BR/>And, like that, Bear’s 28-day cushion evaporated. <BR/><BR/>The Fed’s credit line was good only till Sunday night.”<BR/><BR/>The news came as a shock to Bear executives.<BR/><BR/>When Bear’s chief financial officer, Sam Molinaro, heard the news from Mr. Schwartz he said, “You’ve got to be kidding me.” The firm was eventually forced to sell itself to JPMorgan to avoid a bankruptcy filing.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-75789860806271758512008-09-29T06:38:00.000+01:002008-09-29T06:38:00.000+01:00All of us in the industry saw his coming for the p...All of us in the industry saw his coming for the past few years. Hopefully this will be the 2x4 to the head of lenders who were guilty of over-extending borrowers who should have never qualified for a loan. USLandCo was right when they warned us about this in 2006. Hopefully this will mark a change in the lending industry.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-33755629943400596452008-09-29T06:23:00.000+01:002008-09-29T06:23:00.000+01:00This video was taken a few weeks back, but it's to...This video was taken a few weeks back, but it's to the point and right-on about what really happens when the government performs "bail-outs" which should never be done:<BR/>http://tinyurl.com/4ajdqyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-4148634043412024522008-09-29T05:49:00.000+01:002008-09-29T05:49:00.000+01:00In the 232nd year of its existence, on a cool Sept...<I>In the 232nd year of its existence, on a cool September day, as the leaves changed, the American empire peaked.</I><BR/><BR/>America peaked on July 21, 1969 at<BR/>0256 GMT. It was marked by a boot print on the surface of the moon. Our industrial and scientific might was at it's peak. It's been a slow painful slide ever since.<BR/>RIP USAAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-83439963687347231822008-09-29T05:25:00.000+01:002008-09-29T05:25:00.000+01:00Just one step closer to war...Just one step closer to war...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-85109986822865461732008-09-29T04:35:00.000+01:002008-09-29T04:35:00.000+01:00And if this doesn't rally the stock market, I don'...And if this doesn't rally the stock market, I don't know what will<BR/><BR/>Meanwhile, this does absolutely nothing to stop the freefall in home prices.<BR/><BR/>Good.<BR/><BR/>At least they got that part of the trade right. High home prices were evil. And still are.<BR/>==============<BR/>Wrong, Credit will flow again, and house values will begin to rise. Sorry Keith, you got that one wrong.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-86202256472887572402008-09-29T04:29:00.000+01:002008-09-29T04:29:00.000+01:00Here is Marcy Kaptur again:http://tinyurl.com/4r4g...Here is Marcy Kaptur again:<BR/><BR/>http://tinyurl.com/4r4g5h<BR/><BR/>Keith, this dailynewscaster.com guy seems to have a pretty good thing happening. Perhaps, he would be willing to help you with HP when you retire.<BR/><BR/>Did anyone notice that all of the third party candidates oppose the bail-out? Hmm...what are the odds that the two corporate owned candidates agree while people who are supposedly on opposite sides of the political spectrum agree?<BR/><BR/>It's simple, there is no longer RIGHT and LEFT. There is just CORRUPT and HONEST.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-2748389829078567902008-09-29T04:21:00.000+01:002008-09-29T04:21:00.000+01:00I think we have two options:1. Non-Violent Revolut...I think we have two options:<BR/><BR/>1. Non-Violent Revolution - Everyone refuses to pay taxes like Cindy Sheehan suggests.<BR/><BR/>2. Violent Revolution - Others on HP are better <BR/><BR/>We should have gotten "HousingPanic Happens" t-shirts a long time ago.<BR/><BR/>Dave ...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6826601610346588652008-09-29T03:54:00.000+01:002008-09-29T03:54:00.000+01:00Have you seen this, Keith?http://www.youtube.com/w...Have you seen this, Keith?<BR/><BR/>http://www.youtube.com/watch?v=lsC2k9opOP0Unknownhttps://www.blogger.com/profile/09205994382079229651noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-47815856374233295012008-09-29T03:24:00.000+01:002008-09-29T03:24:00.000+01:00It looks like wachovia shareholders will eat it no...It looks like wachovia shareholders will eat it now too. This bailout will be for a few of the largest corporations in the world.<BR/>Wachovia does have it coming, I remember them being mocked on HP for stupid decision making. I wonder how much the leadership got in bonuses for the buyout of golden west?<BR/><BR/>"The write-down raised worry that Wachovia might have to take much larger write-downs on a $122 billion portfolio of option adjustable-rate mortgages it largely inherited when it bought California lender Golden West Financial Corp in 2006."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-32689991567746527352008-09-29T03:22:00.000+01:002008-09-29T03:22:00.000+01:00Keith, you speak "truth to power"... and you are r...Keith, you speak "truth to power"... and you are right, but for a guy like me it leads to me being fired...which is what happened last week. And while I might be out of a job, most people still have work and won't budge to protest what's going on until they have nothing else to lose. Poetic justice seems rare these days. People seem afraid to protest and the fear mongering by Rep. Judd and company seems to have worked. The day that people wake up and realize our government is just a hollow shell is near.Anonymousnoreply@blogger.com