Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Government guaranteeing everything had nothing to do with the nonsense that went on in the mortgage world did it. Gimme a break. They all knew exactly what they were doing and knew they were taking no risks because the taxpayers were insuring it all. Now they are going to do it all over again. Why wouldn't they is the question. Nobody has done anything to stop em.
Where all those car loans and credit card debts that were securitized insured by the government? The same government that forced banks to loan to folks who couldn't afford to make their payments to begin with.
You speculated that securitizing student loans was next. I responsed by telling you that such loans have been securitized for decades.
I also fyi'd that car loans and credit card debt are also securitized, albeit none of it is guaranteed by government.
The issue is not securitization. Rather, it how the collateral is rated. The independent rating agencies failed to perform, just one of the many pieces of the puzzle with unintended consequences.
You speculated that securitizing student loans was next. I responsed by telling you that such loans have been securitized for decades.
I also fyi'd that car loans and credit card debt are also securitized, albeit none of it is guaranteed by government.
The issue is not securitization. Rather, it how the collateral is rated. The independent rating agencies failed to perform, just one of the many pieces of the puzzle with unintended consequences.
Well if it's not guaranteed by the big fat fed then folks won't run around like they're playing with house money like happened with the mortgage fiasco.
You speculated that securitizing student loans was next. I responsed by telling you that such loans have been securitized for decades.
I also fyi'd that car loans and credit card debt are also securitized, albeit none of it is guaranteed by government.
The issue is not securitization. Rather, it how the collateral is rated. The independent rating agencies failed to perform, just one of the many pieces of the puzzle with unintended consequences.
The USG is suing S&P. More money for the coffers.
Nothing about Moody's yet. I guess they'll wait to see how much S&P coughs up.
The number being thrown around for S&P is about $5 billion.
I figure they'll settle for $2 billion and everything goes back to BAU.
The USG is suing S&P. More money for the coffers.
Nothing about Moody's yet. I guess they'll wait to see how much S&P coughs up.
The number being thrown around for S&P is about $5 billion.
I figure they'll settle for $2 billion and everything goes back to BAU.
Yeah that was for one of the cliff things though wasn't it when they raised the debt ceiling after S&P said they would lower our rating if they do. Of course they did it anyway and S&P lowered our rating so they sue. LOL
Warren was a litigator on behalf of Traveler's Insurance fighting asbestos related lawsuits brought by workers.
Warren who has decried the evil practice of purchasing foreclosed properties and displacing helpless families personally engaged in this practice—purchasing at least 12 foreclosed properties and “flipping” them for enormous profits at the expense of those less fortunate. She is now worth $14.5 million with a $5 million home. By the way, she does not pay the higher rate on her Mass. taxes. (bob doherty)
and
and as administrator of the TARP program:
From October 2008 to March 2011, the TARP oversight panel received nearly $10.5 million in taxpayer money from Congress, public records show. In its final public report issued in March, the panel broke down expenses into general categories, including $8.7 million for salaries and benefits, and $768,851 for printing costs. But line-by-line itemizations have not been released to the public or lawmakers.
During the period that roughly corresponded with Warren’s tenure on the committee, the panel spent about $8.3 million.
Nearly a year after the panel’s creation, Warren and two other Democrats in the group blocked efforts by the two Republican members – Texas Rep. Jeb Hensarling and former New Hampshire Sen. John Sununu – who wanted to draft a budget and release transcripts from meetings to the public, sources familiar with the oversight panel internal operations said.
“From the very beginning, several panel members strongly recommended that a clear budget be established, and that it would be the right thing to make that public,” said one such source. “Warren had no interest in setting a budget, even as a target, no interest in disclosing even to members of the panel how much was being spent and no interest in disclosing even to members of the panel what the money was being spent on.” (politico)
they play the good cop-bad cop game and it is just like taking candy from a baby.
More money going poof in DC. What a surprise. Didn't know warren was a real estate vulture to boot.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
