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Old 01-24-2012, 06:06 PM
 
5,409 posts, read 10,335,019 times
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The bailouts started under Bush. And continued under Obama. Same as the wars, and on and on.

Anyone who has not yet figured out that D = R, may just be too dumb to figure it out.
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Old 01-25-2012, 08:51 AM
 
Location: Sierra Vista, AZ
16,517 posts, read 21,977,509 times
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Quote:
Originally Posted by 70Ford View Post
And SURPRISE! ...you did it this month. No shots were fired, no swords were crossed. Mainstream media yawned.

"Pish-Posh, 'tis but a paltry sum."


In a surprise announcement early Friday, the Federal Reserve said it would inject about $200 billion into the nation’s banking system this month — with more to come after that — by offering banks one-month loans at low rates and in return letting them pledge mortgage-backed bonds and even riskier assets as collateral.

Sharp Drop in Jobs Adds to Grim Economic Picture - New York Times
Exactly we paid for the forclosed houses when we bailed out the Banks and paid for them again when we bailed out AIG, so they could bail out the Banks again.

Those homes belong to the taxpayer,
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Old 01-25-2012, 02:21 PM
 
19,337 posts, read 16,942,875 times
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Originally Posted by Boompa View Post
Exactly we paid for the forclosed houses when we bailed out the Banks and paid for them again when we bailed out AIG, so they could bail out the Banks again.

Those homes belong to the taxpayer,
...which is another reason why the mortgage industry needs to be nationalized.
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Old 01-25-2012, 02:37 PM
 
Location: NJ
29,638 posts, read 34,065,363 times
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Originally Posted by gwynedd1 View Post
...which is another reason why the mortgage industry needs to be nationalized.
or the government should have no part in it whatsoever except regulations that encourage transparency.
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Old 01-25-2012, 03:30 PM
 
19,337 posts, read 16,942,875 times
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Originally Posted by CaptainNJ View Post
or the government should have no part in it whatsoever except regulations that encourage transparency.
That isn't going to happen when you can have fat, no work profits in the mortgage industry. If you are going to mis-allocate credit this badly, it may as well end up a revenue, shifting taxes off the rest of the economy. Rubber stamping promissory notes isn't too hard since the market sets the value of the real estate rather well for the existing market conditions. That could be solved with monetary reform.
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Old 01-25-2012, 09:13 PM
 
Location: Metro Detroit, Michigan
17,993 posts, read 16,466,713 times
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Per the guy complaining about deflation... Doesn't that mean my savings account would be worth more for a change? Bout time us responsible folks finally get rewarded...
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Old 01-26-2012, 02:01 AM
 
272 posts, read 344,479 times
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Originally Posted by Philip T View Post
The bailouts started under Bush. And continued under Obama. Same as the wars, and on and on.

Anyone who has not yet figured out that D = R, may just be too dumb to figure it out.
Yes. I agree.

Would anyone like to dispute this? Feel free to start a new thread.
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Old 01-26-2012, 04:21 AM
 
Location: Los Angeles area
14,017 posts, read 18,873,682 times
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Quote:
Originally Posted by Philip T View Post
The bailouts started under Bush. And continued under Obama. Same as the wars, and on and on.

Anyone who has not yet figured out that D = R, may just be too dumb to figure it out.
Agree with you 100% (for a change). And I'll add another example: Banking was deregulated under Clinton.
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Old 01-30-2012, 09:12 AM
 
Location: LEAVING CD
22,973 posts, read 24,091,031 times
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Quote:
Originally Posted by gwynedd1 View Post
...which is another reason why the mortgage industry needs to be nationalized.
Just like banks, GM and Chrysler as well as pretty much the whole solar industry?
How's that working out for us? It seems to lil' old me that anything the government touches turns to shat pretty quickly and ends up only benefitting those in government or their buddies.
Am I wrong???
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Old 01-30-2012, 09:59 AM
 
16,548 posts, read 10,162,389 times
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Quote:
Originally Posted by Humanoid View Post
It will take many years to know what the ultimate cost to tax payers will be. It could be nothing, there could be a profit, there could be a modest cost, etc. Some of the bailouts during the depression actually generate a small profit or were tax payer neutral before they were closed.

The reality of this bailout is that its unlikely to cost the tax payers much more than the recent economic stimulus package did.
Profit? How do you get there might be a profit? To the homeowner, perhaps, but not to the taxpayer.

A behavior that is rewarded will be repeated. Borrowing more home than you can afford, with no punishment for failing (in fact, being rewarded) and no reward for succeeding, will guarantee that this will happen again.
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