Walk Away?

[bobbythekidd]

Fatalist.

Dick

[AZGrizFan]

Fatalist.

Dick

Well. That was kind of out of left field, bobby.

[bobbythekidd]

I was getting bored with the topic.

[Wedgebuster]

I too am upside down in our house. If I'd a sold it two or three years ago, I would have about 30-40,000 more money in my pocket.

And no home.

Fortunately, I do not have a mortgage. But, I am still losing money..



Any Gubment programs out there for folks like me?

[AZGrizFan]

I was getting bored with the topic.

well alrighty then.

[dbackjon]

bullshit Baldy, and you know it. When Wall Street turned it's focus from long-term growth to short-term profit is when things went south.

Wrong again.

When Fannie and Freddie started to allow anyone with a pulse to buy a house even when they knew that those people couldn't pay for it is when things started to go south.

P
What a crock. Fannie and Freddie the root of all evil. Only a moron would buy that bs.

[Baldy]

Wrong again.

When Fannie and Freddie started to allow anyone with a pulse to buy a house even when they knew that those people couldn't pay for it is when things started to go south.

P
What a crock. Fannie and Freddie the root of all evil. Only a moron would buy that bs.

"Root of all evil"?
No quite, just Ground Zero for the economic mess we are in right now.

[OL FU]

I too am upside down in our house. If I'd a sold it two or three years ago, I would have about 30-40,000 more money in my pocket.

And no home.

Fortunately, I do not have a mortgage. But, I am still losing money..



Any Gubment programs out there for folks like me?

If you don't have a mortgage how are you upside down, unless you mean you paid more for it than it is worth.

[dbackjon]

P
What a crock. Fannie and Freddie the root of all evil. Only a moron would buy that bs.

"Root of all evil"?
No quite, just Ground Zero for the economic mess we are in right now.

Again, you are quite wrong.

1) OUr economic mess roots predates any Fannie and Freddie changes
2) While they might have contributed, they are only a SMALL part of the problem.

[GannonFan]

"Root of all evil"?
No quite, just Ground Zero for the economic mess we are in right now.

Again, you are quite wrong.

1) OUr economic mess roots predates any Fannie and Freddie changes
2) While they might have contributed, they are only a SMALL part of the problem.

Really, they "might" have contributed? There's no doubt that there was a lot more wrong that just Fannie and Freddie, but there's also no doubt that they played a pretty important part in this most recent recession. The housing market was the vehicle that led to this recession (and insufficient regulation and rampant risk taking was in the driver's seat) and Fannie and Freddie are pretty much the housing market, as it relates to mortgages. They were a pretty big elephant in the room.

[Baldy]

"Root of all evil"?
No quite, just Ground Zero for the economic mess we are in right now.

Again, you are quite wrong.

1) OUr economic mess roots predates any Fannie and Freddie changes
2) While they might have contributed, they are only a SMALL part of the problem.

Changes to Fannie and Freddie?
Fannie and Freddie are like Social Security...bastions of the Donks and free of any wrongdoing. Just look at that idiotic "Financial Reform" legislation which passed last week. The Dims made sure there were plenty of reform for the banks and Wall Street, but Fannie and Freddie were not addressed whatsoever.

The only thing "SMALL" is your understanding of the problem.

[youtube][/youtube]

Fannie-Freddie Bailout Could Cost Taxpayers $1 Trillion

"For American taxpayers, now on the hook for some $145 billion in housing losses connected to Fannie Mae and Freddie Mac loans, that amount could be just the tip of the iceberg.

According to the Congressional Budget Office, the losses could balloon to $400 billion. And if housing prices fall further, some experts caution, the cost to the taxpayer could hit as much as $1 trillion.

Two things are clear: Taxpayers don’t want to foot the bill, and Fannie and Freddie, taken over by the government in 2008 to stanch the financial bloodletting, need a major overhaul.

“Some of us who don’t even own homes are paying to support others and their home ownership, and they ask ‘why?’ said Robert J. Shiller, a Yale University economics professor and co-creator of the S&P/Case-Shiller Home Price Indices."

dback, I know $1 Trillion is only a SMALL amount.

[Grizalltheway]

How much, in aggregate, did we spend bailing out the greed and irresponsibility of big Wall Street institutions, Baldy?

[GannonFan]

How much, in aggregate, did we spend bailing out the greed and irresponsibility of big Wall Street institutions, Baldy?

How much indeed - hasn't most of that been paid back already, with interest? AIG is still out there, but the banks were propped up with TARP money and that money got paid back. Will we ever see money back from what we're doing with Fannie and Freddie?

[AZGrizFan]

How much, in aggregate, did we spend bailing out the greed and irresponsibility of big Wall Street institutions, Baldy?

How much indeed - hasn't most of that been paid back already, with interest? AIG is still out there, but the banks were propped up with TARP money and that money got paid back. Will we ever see money back from what we're doing with Fannie and Freddie?

Don't believe we've gotten back the GM money either....yet the Wall Street companies are still viewed as the devil.

[Chizzang]

How much indeed - hasn't most of that been paid back already, with interest? AIG is still out there, but the banks were propped up with TARP money and that money got paid back. Will we ever see money back from what we're doing with Fannie and Freddie?

Don't believe we've gotten back the GM money either....yet the Wall Street companies are still viewed as the devil.

I find the whole thing interesting as well AZ...

[OL FU]

Again, you are quite wrong.

1) OUr economic mess roots predates any Fannie and Freddie changes
2) While they might have contributed, they are only a SMALL part of the problem.

Changes to Fannie and Freddie?
Fannie and Freddie are like Social Security...bastions of the Donks and free of any wrongdoing. Just look at that idiotic "Financial Reform" legislation which passed last week. The Dims made sure there were plenty of reform for the banks and Wall Street, but Fannie and Freddie were not addressed whatsoever.

The only thing "SMALL" is your understanding of the problem.

[youtube][/youtube]

Fannie-Freddie Bailout Could Cost Taxpayers $1 Trillion

"For American taxpayers, now on the hook for some $145 billion in housing losses connected to Fannie Mae and Freddie Mac loans, that amount could be just the tip of the iceberg.

According to the Congressional Budget Office, the losses could balloon to $400 billion. And if housing prices fall further, some experts caution, the cost to the taxpayer could hit as much as $1 trillion.

Two things are clear: Taxpayers don’t want to foot the bill, and Fannie and Freddie, taken over by the government in 2008 to stanch the financial bloodletting, need a major overhaul.

“Some of us who don’t even own homes are paying to support others and their home ownership, and they ask ‘why?’ said Robert J. Shiller, a Yale University economics professor and co-creator of the S&P/Case-Shiller Home Price Indices."

dback, I know $1 Trillion is only a SMALL amount.

the really sad thing about Freddie and Fannie is that it was clear it was coming. The Bush administration made light hearted attempts at reform but didn't have the political courage to fight congress. The Wall Street journal editorial page discussed at at least two or three times a year and much more frequently as the crash approached. The first time I read it in the journal was not too long after the Enron affair. The writer was discussing Enron, then moved to FNMA and ended the editorial with a comment somthing like this. "But if you think Enron is bad, wait until Freddie and Fannie Implode" That was easily in early '92.

So some knew Freddie and Fannie were a mess in the early 90s, we still know Freddie and Fannie are a mess and we still do little to correct it.

[OL FU]

Don't believe we've gotten back the GM money either....yet the Wall Street companies are still viewed as the devil.

I find the whole thing interesting as well AZ...

It isn't hard to figure out. The Wall Street firms are making money again so it is easy to paint them as the bad guy. If they were limping along breaking even or losing money, they would be victims. Also, The government can add new taxes and fees to their business since they are making money. AIG, GM and FNMA can pay fees too. As long as the government lends them money to do so.

There you have it. If government helps you out or bails you out (which ever you like) you had better damn well look like you needed it

[AZGrizFan]

Changes to Fannie and Freddie?
Fannie and Freddie are like Social Security...bastions of the Donks and free of any wrongdoing. Just look at that idiotic "Financial Reform" legislation which passed last week. The Dims made sure there were plenty of reform for the banks and Wall Street, but Fannie and Freddie were not addressed whatsoever.

The only thing "SMALL" is your understanding of the problem.

[youtube][/youtube]

Fannie-Freddie Bailout Could Cost Taxpayers $1 Trillion

"For American taxpayers, now on the hook for some $145 billion in housing losses connected to Fannie Mae and Freddie Mac loans, that amount could be just the tip of the iceberg.

According to the Congressional Budget Office, the losses could balloon to $400 billion. And if housing prices fall further, some experts caution, the cost to the taxpayer could hit as much as $1 trillion.

Two things are clear: Taxpayers don’t want to foot the bill, and Fannie and Freddie, taken over by the government in 2008 to stanch the financial bloodletting, need a major overhaul.

“Some of us who don’t even own homes are paying to support others and their home ownership, and they ask ‘why?’ said Robert J. Shiller, a Yale University economics professor and co-creator of the S&P/Case-Shiller Home Price Indices."

dback, I know $1 Trillion is only a SMALL amount.

the really sad thing about Freddie and Fannie is that it was clear it was coming. The Bush administration made light hearted attempts at reform but didn't have the political courage to fight congress. The Wall Street journal editorial page discussed at at least two or three times a year and much more frequently as the crash approached. The first time I read it in the journal was not too long after the Enron affair. The writer was discussing Enron, then moved to FNMA and ended the editorial with a comment somthing like this. "But if you think Enron is bad, wait until Freddie and Fannie Implode" That was easily in early '92.

So some knew Freddie and Fannie were a mess in the early 90s, we still know Freddie and Fannie are a mess and we still do little to correct it.

Two words:

Barney Frank

[Chizzang]

the really sad thing about Freddie and Fannie is that it was clear it was coming. The Bush administration made light hearted attempts at reform but didn't have the political courage to fight congress. The Wall Street journal editorial page discussed at at least two or three times a year and much more frequently as the crash approached. The first time I read it in the journal was not too long after the Enron affair. The writer was discussing Enron, then moved to FNMA and ended the editorial with a comment somthing like this. "But if you think Enron is bad, wait until Freddie and Fannie Implode" That was easily in early '92.

So some knew Freddie and Fannie were a mess in the early 90s, we still know Freddie and Fannie are a mess and we still do little to correct it.

That's what makes all the finger pointing so silly...
Democrats vs. Republicans Blah blah blah - The difference between a Dem and a Repub is simply who they'll lie to protect and who they'll accept lobby influence from and then lobby for after they're out of office...

Each side of the isle has had plenty of opportunities to FIX what's broken

[OL FU]

the really sad thing about Freddie and Fannie is that it was clear it was coming. The Bush administration made light hearted attempts at reform but didn't have the political courage to fight congress. The Wall Street journal editorial page discussed at at least two or three times a year and much more frequently as the crash approached. The first time I read it in the journal was not too long after the Enron affair. The writer was discussing Enron, then moved to FNMA and ended the editorial with a comment somthing like this. "But if you think Enron is bad, wait until Freddie and Fannie Implode" That was easily in early '92.

So some knew Freddie and Fannie were a mess in the early 90s, we still know Freddie and Fannie are a mess and we still do little to correct it.

That's what makes all the finger pointing so silly...
Democrats vs. Republicans Blah blah blah - The difference between a Dem and a Repub is simply who they'll lie to protect and who they'll accept lobby influence from and then lobby for after they're out of office...

Each side of the isle has had plenty of opportunities to FIX what's broken

No Argument here. I honestly think one of the reasons that Bush didn't have the courage to pursue regulation is that one of the hallmarks he was trying to build his legacy on was increasing home ownership. So while he knew ( or someone in his administration knew) that FANNIE and FREDDIE were disasters waiting to happen, they kept their mouth basically shut. Controlling FANNIE would have slowed mortgage growth substantially. Who wants to blow up every American's dream to save America:roll:

[Chizzang]

That's what makes all the finger pointing so silly...
Democrats vs. Republicans Blah blah blah - The difference between a Dem and a Repub is simply who they'll lie to protect and who they'll accept lobby influence from and then lobby for after they're out of office...

Each side of the isle has had plenty of opportunities to FIX what's broken

No Argument here. I honestly think one of the reasons that Bush didn't have the courage to pursue regulation is that one of the hallmarks he was trying to build his legacy on was increasing home ownership. So while he knew ( or someone in his administration knew) that FANNIE and FREDDIE were disasters waiting to happen, they kept their mouth basically shut. Controlling FANNIE would have slowed mortgage growth substantially. Who wants to blow up every American's dream to save America:roll:

Agreed...
And the guy who tries to FIX what's already broken always gets blamed for being the one who broke it

and any internal focus on America would have detracted from his goal of 100% xenophobia, America was not allowed to be it's own biggest problem - it had to be somebody else...

[AZGrizFan]

Who wants to blow up every American's dream to save America

Apparently not Obama. He's trying the exact opposite tact: blowing up America in a misguided attempt to save the American dream...

[Chizzang]

Who wants to blow up every American's dream to save America

Apparently not Obama. He's trying the exact opposite tact: blowing up America in a misguided attempt to save the American dream...

Perfect AZ,
That is such silly over dramatized talk radio puppet speak...

[AZGrizFan]

Apparently not Obama. He's trying the exact opposite tact: blowing up America in a misguided attempt to save the American dream...

Perfect AZ,
That is such silly over dramatized talk radio puppet speak...

Oh, fuck you. It was funny and you know it.

[OL FU]

No Argument here. I honestly think one of the reasons that Bush didn't have the courage to pursue regulation is that one of the hallmarks he was trying to build his legacy on was increasing home ownership. So while he knew ( or someone in his administration knew) that FANNIE and FREDDIE were disasters waiting to happen, they kept their mouth basically shut. Controlling FANNIE would have slowed mortgage growth substantially. Who wants to blow up every American's dream to save America:roll:

Agreed...
And the guy who tries to FIX what's already broken always gets blamed for being the one who broke it

and any internal focus on America would have detracted from his goal of 100% xenophobia, America was not allowed to be it's own biggest problem - it had to be somebody else...

I agree that the guy who tries to fix it gets blamed, I just don't see anyone trying to fix it.