Republicans blew up the deal

#51
#51
The person that created the title of this thread should probably work for some left wing media rag. There never was a deal, how do you blow something up that did not exist?
 
#54
#54
allvol123 said:
The person that created the title of this thread should probably work for some left wing media rag. There never was a deal, how do you blow something up that did not exist?
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but i thought lawgater said he was a moderate? :lolabove:
 
#55
#55
I understand the criticism of those buying too much house for their means. But as I understood it, the point of the plan was to buy their loans so that the big banks aren't stuck with them when they default. Now, it may be that a byproduct is that the little guy gets out from under some of the debt, but if you think the point is to help him, as opposed to the bank that has the note, you are deluding yourselves.
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#56
#56
lawgator1 said:
I understand the criticism of those buying too much house for their means. But as I understood it, the point of the plan was to buy their loans so that the big banks aren't stuck with them when they default. Now, it may be that a byproduct is that the little guy gets out from under some of the debt, but if you think the point is to help him, as opposed to the bank that has the note, you are deluding yourselves.
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there should be absolutely nothing in this plan to help the actual individual who strapped on more debt than he / she could afford, often under false pretenses.
 
#57
#57
This is a bipartisan piece of crap that should be turned down. Here's a little Jeopardy question for you.


Who is the Carlyle Group?

http://www.carlyle.com

Do a little research and find out who all is involved and it will turn your stomach. R's and D's alike!
 
#58
#58
they should hand this back to Paulson, Bernanke and Company and leave the congressional idiots out of the mix. Bipartisan means nothing when it comes to these idiots delving out borrowed money.
 
#59
#59
VolBeef88 said:
This is a bipartisan piece of crap that should be turned down. Here's a little Jeopardy question for you.


Who is the Carlyle Group?

http://www.carlyle.com

Do a little research and find out who all is involved and it will turn your stomach. R's and D's alike!
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since you seem to be using bipartisan in a negative way here, what's wrong with bipartisanship?
 
#60
#60
emainvol said:
since you seem to be using bipartisan in a negative way here, what's wrong with bipartisanship?
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I suspect it's the fact that politicians suck regardless of ilk, but it is Beef. Hell, he might say CPF is the man.
 
#62
#62
#63
#63
rockydoc said:
How in the Hell could the minority House Republicians block anything. Only the Senate has the filibuster privilige. The Democrats have enough votes to pass anything they want. Thankfully, a few conservative Republicans saw this bailout for what is was........a prescription for socialism writtened by a bunch a "slip and fall" lawyers.
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The Dems want a majority vote from both parties. Yes they could push it though now but they are playing the bipartisanship role, if they truly believe in their revisions they should push it through. Although I'm glad they aren't
 
#64
#64
The Dems could care less about bipartisanship or if a majority of Republicans go along. Their problem is that they simply don't have enough Democrats voting yes, so they need a chunk of Republican support to get the bill passed.
 
#67
#67
GAVol said:
The Dems could care less about bipartisanship or if a majority of Republicans go along. Their problem is that they simply don't have enough Democrats voting yes, so they need a chunk of Republican support to get the bill passed.
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Even if the Dems could pass it on their own they never would because they don't want to hold the bag on this on.

Everyone wants cover.
 
#68
#68
lawgator1 said:
I understand the criticism of those buying too much house for their means. But as I understood it, the point of the plan was to buy their loans so that the big banks aren't stuck with them when they default. Now, it may be that a byproduct is that the little guy gets out from under some of the debt, but if you think the point is to help him, as opposed to the bank that has the note, you are deluding yourselves.
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you don't understand it. the point is not to buy mortgages that are going to default. the point is to accurately price these pools of mortgages. currently they are being priced well below any resonable default estimates. the only way the treasury losses money buying these assets is if housing prices drop over 40% further. seems pretty unlikely. but because of market to market accounting the banks have to write down these assets (which kill their capital ratios) to these ridiculously low levels. the rhetoric that these are "toxic assets" is a bit silly. the fact is that even with a pool of 10,000 subprime mortgages the majority of htese people wont default/
 
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#69
#69
droski said:
you don't understand it. the point is not to buy mortgages that are going to default. the point is to accurately price these pools of mortgages. currently they are being priced well below any resonable default estimates. the only way the treasury losses money buying these assets is if housing prices drop over 40% further. seems pretty unlikely. but because of market to market accounting the banks have to write down these assets (which kill their capital ratios) to these ridiculously low levels. the rhetoric that these are "toxic assets" is a bit silly. the fact is that even with a pool of 10,000 subprime mortgages the majority of htese people wont default/
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Trying to explain the quarterly mark to market to LG and the book capital impact is probably a waste of air. The media said WaMu lost a ton of money, so they did.
 
#70
#70
droski said:
the fact is that even with a pool of 10,000 subprime mortgages the majority of htese people wont default/
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Unless the mortgage holders begin to believe the gubment will bail them out, restructure their mortgages or otherwise let them off the hook.

Gubment involvement = more mortgage defaults (in my cynical view) :p
 
#71
#71
volinbham said:
Unless the mortgage holders begin to believe the gubment will bail them out, restructure their mortgages or otherwise let them off the hook.

Gubment involvement = more mortgage defaults (in my cynical view) :p
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i'd like to figure out to get out of my mortgage.
 
#72
#72
volinbham said:
Unless the mortgage holders begin to believe the gubment will bail them out, restructure their mortgages or otherwise let them off the hook.

Gubment involvement = more mortgage defaults (in my cynical view) :p
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how many will know the gub'ment is the ultimate holder of the note? My guess is that the last servicing company will keep their name on the bill.
 
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