Republicans blew up the deal

#26
#26
MG1968 said:
I'm glad the GOP scuttled the deal yesterday. It contained 100 million bucks for Obama's buddies at ACORN, plus it did nothing to stop subprime lending.
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Are you serious, they are actually trying to pork this deal up?
 
#27
#27
MG1968 said:
I'm glad the GOP scuttled the deal yesterday. It contained 100 million bucks for Obama's buddies at ACORN, plus it did nothing to stop subprime lending.
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earmarks should be disallowed, but this shouldn't address lending standards. That's a market fix that regulators will drive. Fannie and Freddie's new rules should define bearable loans and that's the fix.
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#28
#28
BigPapaVol said:
earmarks should be disallowed, but this shouldn't address lending standards. That's a market fix that regulators will drive. Fannie and Freddie's new rules should define bearable loans and that's the fix.
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That seems reasonable...is it ignored because they are looking for the next "shot in the arm" so to speak?
 
#29
#29
ttocswob said:
So, then give Paulson 700 billion of your money. I don't trust him with any of mine.
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the magnitude of the fix is being massively overstated and the expense to all of us will be enormous if we don't come up with a solution that lets this pile of writedowns settle over time.
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#30
#30
MG1968 said:
I'm glad the GOP scuttled the deal yesterday. It contained 100 million bucks for Obama's buddies at ACORN, plus it did nothing to stop subprime lending.
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I'm glad they scuttled it, too. Had not heard that it contained 100 million for ACORN?
 
#31
#31
the dems wanting equity in any company that sells it's assets to the fund is basically ruining the whole point of the thing in the first place. without broad participation this doesn't work. you aren't going to get anything close to broad participation under the current plan.
 
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#32
#32
ttocswob said:
So, then give Paulson 700 billion of your money. I don't trust him with any of mine.
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let's see they are going to sell treasuries at 4-6% and buy assets yielding 10-15%. yeah sounds like a horrible deal for the us govt and the american people. :crazy:
 
#33
#33
droski said:
let's see they are going to sell treasuries at 4-6% and buy assets yielding 10-15%. yeah sounds like a horrible deal for the us govt and the american people. :crazy:
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best fixed arbitrage I've really ever heard of and it's exactly why Buffet said he'd do it in a heartbeat. I even bet the 10-15% ends up being low based upon the recovery rates in the distressed assets.
 
#34
#34
TheHill.com

This is exactly why the idiotic elected folks on Capitol Hill have to stay out. $7.5 billion of $25 billion paid out to the auto industry. That's pathetic union bribery and support for mediocrity. Our financial system is a world leader and needs saving from the mortgage mess. The auto industry is getting propped up for being the worst in the world.

Fix the mortgages issues and get your sorry hands off the pocketbook.
 
#35
#35
BigPapaVol said:
TheHill.com

This is exactly why the idiotic elected folks on Capitol Hill have to stay out. $7.5 billion of $25 billion paid out to the auto industry. That's pathetic union bribery and support for mediocrity. Our financial system is a world leader and needs saving from the mortgage mess. The auto industry is getting propped up for being the worst in the world.

Fix the mortgages issues and get your sorry hands off the pocketbook.
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Exactly why this is not going to end nicely. I am sure there is more waste in there besides just what you pointed out.
 
#36
#36
Let the US economy settle on its own. No need to have the government create a welfare system for the mortgage industry. Let stupid businesses executives burn on their bad decisions.
 
#37
#37
UT IE 95 said:
Let the US economy settle on its own. No need to have the government create a welfare system for the mortgage industry. Let stupid businesses executives burn on their bad decisions.
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When do the community organizers and elected officials burn for their part?
 
#38
#38
UT IE 95 said:
Let the US economy settle on its own. No need to have the government create a welfare system for the mortgage industry. Let stupid businesses executives burn on their bad decisions.
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the gov't essentially forced a huge swath of the bad decisions. That's the problem. The free market didn't get into this mess on its own. The mortgage industry has congressional oversight fingerprints all over it.
 
#40
#40
UT IE 95 said:
Let the US economy settle on its own. No need to have the government create a welfare system for the mortgage industry. Let stupid businesses executives burn on their bad decisions.
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right because the oncoming depression caused by doing nothing will be great for the "working man." only the "business executives" will get screwed. and speaking from a business executive's point of view. we've already be screwed far more than the common man.
 
#41
#41
BigPapaVol said:
the gov't essentially forced a huge swath of the bad decisions. That's the problem. The free market didn't get into this mess on its own. The mortgage industry has congressional oversight fingerprints all over it.
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Just as we loko to hold accountability over Fulmer for the disgrace that is UT football, I am looking to hold accountability over failed business executives in the mortgage industry.
 
#42
#42
UT IE 95 said:
Just as we loko to hold accountability over Fulmer for the disgrace that is UT football, I am looking to hold accountability over failed business executives in the mortgage industry.
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they've all been fired. I'm all for that kind of accountability with Fulmer.
 
#43
#43
UT IE 95 said:
I am looking to hold accountability over failed business executives in the mortgage industry.
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most of them have been fired. is losing your job not being held accountable? Only the very top people have been given golden parachutes. do you really want to screw all of america so that like 10 individuals get what's comming to them? and anyway causing a recession isn't going to screw those people at all.
 
#44
#44
of course we wouldn't want to hold the "common man" accountable for buying a house he can't afford. we have to hear from congress how these poor bastards are losing their homes. WAHHHHHHH. they shouldn't have bought them in the first place.
 
#45
#45
The Skilling form of justice seems better than a firing with a 7-8 figure severance.
 
#46
#46
droski said:
of course we wouldn't want to hold the "common man" accountable for buying a house he can't afford. we have to hear from congress how these poor bastards are losing their homes. WAHHHHHHH. they shouldn't have bought them in the first place.
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I couldn't agree more.
 
#47
#47
droski said:
of course we wouldn't want to hold the "common man" accountable for buying a house he can't afford. we have to hear from congress how these poor bastards are losing their homes. WAHHHHHHH. they shouldn't have bought them in the first place.
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he's being held accountable either way. The foreclosures aren't going to stop just because this entity takes on the bad debt.
 
#48
#48
UT IE 95 said:
The Skilling form of justice seems better than a firing with a 7-8 figure severance.
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right they should go to jail because of the housing bubble. I guess bill gates should be in jail because of the dot com bubble right?
 
#49
#49
BigPapaVol said:
he's being held accountable either way. The foreclosures aren't going to stop just because this entity takes on the bad debt.
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the dems want a provision that decreases the value of people mortgages and stops banks from forclosing. in my opinion that doesn't hold people accountable.
 
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