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Bladewire 12-29-2016 07:17 PM
Quote:
Originally Posted by GspotProductions (Post 21413821)
if not, he'll be pushed out & Pence in. Which would be the end until the next election in 2020 :2 cents:
I think this is why Bush & Clinton have not RSVP'd the inauguration. They will not be there. They don't want brains splattered on them if DT is assasinated :2 cents:

Paul Markham 12-30-2016 01:46 AM
Quote:
Originally Posted by Barry-xlovecam (Post 21412390)
Paul I have lots of experience with failures and usually know when people are full of shit.
Then it should be easy to post why I'm wrong. So why haven't you?

Paul Markham 12-30-2016 01:49 AM
Quote:
Originally Posted by TheSquealer (Post 21412549)
My personally issue with the housing market collapse is that we didn't let all the associated banks and companies like Lehman Brothers etc collapse as well. Instead, companies made shitty and wreckless decisions and then paid no real economic price for it. The tax payers had to pay for it. Even passing a retarded fucking stimulous package to bail out banks under the presumption that they would just pump that money back into the economy and start lending, but they instead just sat on it to ride it all out and see what happens. An exercise in epic retardedness when it comes to legislation and tax payer money
This had to be the way it was. Because wth Banking/Finacial Services dominating Western Economies. Bankers rule.

I agree with you that it's a shitty way to be, just imagine the Banking Industry moving out of the US. Which was in effect what would have happened if they weren't paid to stay.

Paul Markham 12-30-2016 01:54 AM
Quote:
Originally Posted by kane (Post 21413146)
So you think it is perfectly okay for banks to do things that they know are irresponsible and damaging and will turn bad for people down the road all for the sake of making a profit?

Banks like Washington Mutual were giving away mortgages to people who had no jobs and no source of income. When asked, they said that a source of income was not one of the criteria for qualifying or a loan. And why would they care? They give the mortgage then within 48 hours have packaged it up and sold it to someone else. Those people sell it to someone else and it gets passed around. Eventually, someone has to deal with it when it goes bad.

Suggesting the banks weren't at fault for their own behaviour is rediculous.
I don't think it's okay. I believe under the legislation it was impossible for them to refuse a mortgage, I may be wrong there.

Blaming Bankers for doing what Bankers do is pointless. The real blame lies with politicians who all them to do what they did and about to repeat it.

As Squealer says we are now reliant on boom and bust economies. Banks inflate and we all earn a little, then the bubble burst and we all lose a lot. Go see what your GDP would be without the Banking sector.

Paul Markham 12-30-2016 01:59 AM
Quote:
Originally Posted by GspotProductions (Post 21413821)
exactly. It really annoys the shit out of me hearing assholes say Obama's anything but a good person. He's not just been good for the US, but has done the world proud :thumbsup
What did Obama do that was so bad?



Quote:
if not, he'll be pushed out & Pence in. Which would be the end until the next election in 2020 :2 cents:
I think some are already planning a "Grassy Knoll" moment.

kane 12-30-2016 02:26 AM
Quote:
Originally Posted by Paul Markham (Post 21414253)
I don't think it's okay. I believe under the legislation it was impossible for them to refuse a mortgage, I may be wrong there.

Blaming Bankers for doing what Bankers do is pointless. The real blame lies with politicians who all them to do what they did and about to repeat it.

As Squealer says we are now reliant on boom and bust economies. Banks inflate and we all earn a little, then the bubble burst and we all lose a lot. Go see what your GDP would be without the Banking sector.
The banks can absolutely refuse to give mortgages.

While I agree that politicians have to shoulder a lot of the blame, there is something to be said for being a scumbag and that is exactly what the bankers behaved like here. Nobody forced them to give mortgages to anyone and everyone they could find only to immediately sell them off knowing that the people who bought the houses have no way of actually paying for it.

There were bankers that knew they were buying toxic mortgages, but they did it anyway then used them to create investment funds that they sold to a lot of people by flat out lying to those people about what was in the fund. When it crashed and burned and those investors lost everything, the fund managers gave themselves a big bonus, folded the fund, and asked to be bailed out by the government.

Sorry, but that isn't right and we shouldn't just shurg that kind of behavior off.

Barry-xlovecam 12-30-2016 07:31 AM
Quote:
Originally Posted by Paul Markham (Post 21414244)
Then it should be easy to post why I'm wrong. So why haven't you?
You do too good of a job doing that daily sticking your own foot in your mouth.

Barry-xlovecam 12-30-2016 07:36 AM
Banks resell most of the mortgages that they write.

The banks continue to be the servicers (collection agents) of the mortgages that they write and then sell.

You cannot get a mortgage from the bank because it does not meet the underwriting standards of the bank's buyers.

XXXtrailers 01-27-2017 05:00 AM
Nice Meltdown(s)


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