[gtbguy]

Originally Posted by airics

how is it the stimulus money? that money has been paid back!

Troubled Asset Relief Program - Wikipedia, the free encyclopedia

What, stimulus money has been paid back? The newspapers, magazines I read and news I watch indicate the exact opposite. I doubt it will EVER get paid back but somehow a "new" accounting method and the folks up in Washington will try and convince us it was paid back!

[olecapt]

Originally Posted by gtbguy

What, stimulus money has been paid back? The newspapers, magazines I read and news I watch indicate the exact opposite. I doubt it will EVER get paid back but somehow a "new" accounting method and the folks up in Washington will try and convince us it was paid back!

"Stimulus" funding would be that mney spent by various entities funded by the feds to provide jobs. The pay back would be facilities. Fixed roads, new roads, new buildings etc. "stimulus" per se is never paid back in dollars.

TARP and such is the money provied to the banks and AIG and the car companines to avoid their failure. Much of that will be repaid. In fact much has been repaid. Iwould also be skeptical that it will all be recovered though much will be by selling ownership positions in the various entitities involved.

I would expect that much of the AIG money will in fact be recovered as well as virtually all the funds given to the banks.

[tony soprano]

Originally Posted by olecapt

I would expect that much of the AIG money will in fact be recovered as well as virtually all the funds given to the banks.

Well, whaddya know? Those big, evil banks are going to pay back their debts while all those underwater homeowners walk away from their mortgages without doing the same. There are plenty of bailout funds available so don't forget the key money!

[olecapt]

Originally Posted by tony soprano

Well, whaddya know? Those big, evil banks are going to pay back their debts while all those underwater homeowners walk away from their mortgages without doing the same. There are plenty of bailout funds available so don't forget the key money!

Your point?

The losers in the crash were seldom the banks who ended up owning little. They grab their money as the deals went past. The argument is really who eats the losses created by the lenders...most of whom no longer exist. Ohh it won't be the banks.

[tony soprano]

Originally Posted by olecapt

Your point?

The losers in the crash were seldom the banks who ended up owning little. They grab their money as the deals went past. The argument is really who eats the losses created by the lenders...most of whom no longer exist. Ohh it won't be the banks.

Oh yeah, I forgot it was the lenders that manipulate the housing market and created the losses.[/tinfoil hat]

[olecapt]

Ohhh you suggest Countrywide was simply a back woods bank taken advantage of by nefarious and skilled borrowers?

Then again you are sometimes a little slow...

[tony soprano]

Originally Posted by olecapt

Ohhh you suggest Countrywide was simply a back woods bank taken advantage of by nefarious and skilled borrowers?

Then again you are sometimes a little slow...

Countrywide paid for their mistakes by being acquired at a substantial discount by another entity. They were not bailed out. Is that the extent of your explanation on how lenders manipulate the housing market?[/tinfoil hat]

[olecapt]

Originally Posted by tony soprano

Countrywide paid for their mistakes by being acquired at a substantial discount by another entity. They were not bailed out. Is that the extent of your explanation on how lenders manipulate the housing market?[/tinfoil hat]

Ow... and the people who ran CW and all the minions who profited from their actions were stripped of their gains and properly punished?

Cite a source.

[tony soprano]

Originally Posted by olecapt

Ow... and the people who ran CW and all the minions who profited from their actions were stripped of their gains and properly punished?

Cite a source.

Those minions would include the realtors that profited by selling wildly overpriced homes to gullible buyers, yes? Certainly they too should be stripped of their profits and punished for their participation in this debacle. I'm sure you've returned the commissions you've collected from anyone that's underwater or been foreclosed on. Seems only fair.

...but lets hear more on how the lenders manipulate the housing market and created all these losses.

[olecapt]

Originally Posted by tony soprano

Those minions would include the realtors that profited by selling wildly overpriced homes to gullible buyers, yes? Certainly they too should be stripped of their profits and punished for their participation in this debacle. I'm sure you've returned the commissions you've collected from anyone that's underwater or been foreclosed on. Seems only fair.

...but lets hear more on how the lenders manipulate the housing market and created all these losses.

Nope. No Realtors I know of worked for or contracted with CW. Stop trying to change the subject.

Let us hear your version of how the fraud and crooked dealings of CW were set right.