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Bankers: Take your TARP money back

Started by me, March 31, 2009, 11:04:17 AM

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Henry Hawk

#15
April 01, 2009, 01:29:30 PM
the bottom line is ... Banks are failing because they lent billions to unqualified borrowers....no matter WHAT kind of loan it was....and they was pushed to do so BY the government..........NOW, the government cannot live up to this....and they are NOT fixing the problem...by bailing them out.

Gov NEEDS to stay OUT of private ran business....period.
"The heart of the wise inclines to the right, but the heart of the fool to the left."
Ecclesiastes 10:2 - It all makes sense to me now...


"The future ain't what it used to be."– Yogi Berra

"Square roots are rarely found on any plant." FTW

Exterminator

#16
April 01, 2009, 01:38:59 PM
Quote from: Henry Hawk on April 01, 2009, 01:29:30 PM
the bottom line is ... Banks are failing because they lent billions to unqualified borrowers....

That's not necessarily true; were you unqualified for your mortgage?  The problem is that people were too stupid and short-sighted to get fixed rate mortgages for houses they could afford and the banks didn't care because they didn't expect to be holding the paper when the loan came due.

Quote....and they was pushed to do so BY the government...

That's ridiculous and if you're referring to the CRA, most of those aren't the loans in question.

Quote......NOW, the government cannot live up to this....and they are NOT fixing the problem...by bailing them out.

Gov NEEDS to stay OUT of private ran business....period.

Thank you for your learned economic perspective.   :rolleyes:
Arguing with Christians is like playing chess with a pigeon.  No matter how good I am at chess, the pigeon is just going to knock over the pieces, shit on the board and strut around like it's victorious.

The truth is slow, but relentless. Over time it becomes irresistible.

Henry Hawk

#17
April 01, 2009, 01:48:53 PM
Quote from: Exterminator on April 01, 2009, 01:38:59 PM
That's not necessarily true...The problem is that people were too stupid and short-sighted to get fixed rate mortgages for houses they could afford and the banks didn't care because they didn't expect to be holding the paper when the loan came due.

so making my point, it IS the Banks fault, because they lent money to people to whom they even cared IF they would pay it back...because THEY didn't CARE...they was not planning on holding the loan.... :rolleyes:

they should be allowed to fail....that is how the nature of economics weeds out the bad...and strengthens the healthy.....how could it be worse than what we are doing now?
"The heart of the wise inclines to the right, but the heart of the fool to the left."
Ecclesiastes 10:2 - It all makes sense to me now...


"The future ain't what it used to be."– Yogi Berra

"Square roots are rarely found on any plant." FTW

fireguy

#18
April 01, 2009, 01:50:42 PM
You want the view on how this whole thing happened and continues to happen. Here you go:
http://www.rollingstone.com/politics/story/26793903/the_big_takeover
Something witty and relevant.

Exterminator

#19
April 01, 2009, 02:02:34 PM
Quote from: Henry Hawk on April 01, 2009, 01:48:53 PM
they should be allowed to fail....that is how the nature of economics weeds out the bad...and strengthens the healthy.....how could it be worse than what we are doing now?

I agree; anarchy would be fun!
Arguing with Christians is like playing chess with a pigeon.  No matter how good I am at chess, the pigeon is just going to knock over the pieces, shit on the board and strut around like it's victorious.

The truth is slow, but relentless. Over time it becomes irresistible.

Exterminator

#20
April 01, 2009, 02:04:23 PM
Quote from: fireguy on April 01, 2009, 01:50:42 PM
You want the view on how this whole thing happened and continues to happen. Here you go:
http://www.rollingstone.com/politics/story/26793903/the_big_takeover

And here I thought you were going to link to this.
Arguing with Christians is like playing chess with a pigeon.  No matter how good I am at chess, the pigeon is just going to knock over the pieces, shit on the board and strut around like it's victorious.

The truth is slow, but relentless. Over time it becomes irresistible.

Henry Hawk

#21
April 01, 2009, 02:10:58 PM
Quote from: Exterminator on April 01, 2009, 02:02:34 PM
I agree; anarchy would be fun!

were are a LONG way from that.....and at this point in time...probably couldn't be much worse....

seriously.....if a bank fails...another bank would step in...life would continue....the only people that would lose are the ones who had more than a $100,000 in that bank....and the people who worked for that bank...and THAT would suck...but, it would strengthen those who did things right.

now, we are either going FURTHER in debt or printing NEW money, which is GOING to bring on inflation...
"The heart of the wise inclines to the right, but the heart of the fool to the left."
Ecclesiastes 10:2 - It all makes sense to me now...


"The future ain't what it used to be."– Yogi Berra

"Square roots are rarely found on any plant." FTW

Exterminator

#22
April 01, 2009, 02:23:35 PM
Quote from: Henry Hawk on April 01, 2009, 02:10:58 PM
were are a LONG way from that.....and at this point in time...probably couldn't be much worse....

Be careful what you wish for.

Quoteseriously.....if a bank fails...another bank would step in...life would continue....the only people that would lose are the ones who had more than a $100,000 in that bank....and the people who worked for that bank...and THAT would suck...but, it would strengthen those who did things right.

You have an overly simplisti, naive view of how the economy works.

Quotenow, we are either going FURTHER in debt or printing NEW money, which is GOING to bring on inflation...

So spending hundreds of billions to rebuild a country that we bombed the piss out of for no real reason is ok but spending hundreds of billions to try to shore up our economy is not; is that what I'm hearing you say?
Arguing with Christians is like playing chess with a pigeon.  No matter how good I am at chess, the pigeon is just going to knock over the pieces, shit on the board and strut around like it's victorious.

The truth is slow, but relentless. Over time it becomes irresistible.

fireguy

#23
April 01, 2009, 02:28:02 PM
Quote from: Exterminator on April 01, 2009, 02:04:23 PM
And here I thought you were going to link to this.

Oh, that is one of my favorites. The Rolling Stone piece is a nice companion that goes in depth on what all the different shennanigans are/were.
Something witty and relevant.

Exterminator

#24
April 01, 2009, 02:49:30 PM
Quote from: fireguy on April 01, 2009, 02:28:02 PM
Oh, that is one of my favorites. The Rolling Stone piece is a nice companion that goes in depth on what all the different shennanigans are/were.

I'm about half way through it...excellent article.  Henry should read it.
Arguing with Christians is like playing chess with a pigeon.  No matter how good I am at chess, the pigeon is just going to knock over the pieces, shit on the board and strut around like it's victorious.

The truth is slow, but relentless. Over time it becomes irresistible.

Henry Hawk

#25
April 01, 2009, 03:07:53 PM
Quote from: Exterminator on April 01, 2009, 02:49:30 PM
I'm about half way through it...excellent article.  Henry should read it.

I did!!..and it would be funny if it was not so true.... :o

gets back to my point...those 'bankers' shoud be out of business...and NOT bailed out.
"The heart of the wise inclines to the right, but the heart of the fool to the left."
Ecclesiastes 10:2 - It all makes sense to me now...


"The future ain't what it used to be."– Yogi Berra

"Square roots are rarely found on any plant." FTW

fireguy

#26
April 01, 2009, 03:46:42 PM
Those bankers and their political shills. From both parties. Quickly.
Something witty and relevant.

Exterminator

#27
April 01, 2009, 03:48:54 PM
Quote from: Henry Hawk on April 01, 2009, 03:07:53 PM
I did!!..and it would be funny if it was not so true.... :o

gets back to my point...those 'bankers' shoud be out of business...and NOT bailed out.

Again, it's not quite that simple.  If the Gramm led deregulation crusade hadn't allowed these mega-banks to ever happen, smaller, individual bank failures would not have nearly the effect on the economy that one or more of these monoliths falling would have.  The whole thing is a freakin' circus.
Arguing with Christians is like playing chess with a pigeon.  No matter how good I am at chess, the pigeon is just going to knock over the pieces, shit on the board and strut around like it's victorious.

The truth is slow, but relentless. Over time it becomes irresistible.

me

#28
April 01, 2009, 03:55:57 PM
Quote from: Exterminator on April 01, 2009, 12:50:09 PM
From one of your own sources: "Lenders want these borrowers to make substantial down payments and to have excellent credit."  Like I said, your trying to make it sound like anyone with bad credit and no money can walk into one of these places and be handed a mortgage is absolute bullshit and no-doc mortgages are not what caused this mess.
They played a large part in it whether you want to admit it or not.  And, yes, people with no money and borderline credit could get those loans.
Trump 2020

Exterminator

#29
April 01, 2009, 04:00:36 PM
I ain't buyin' it.
Arguing with Christians is like playing chess with a pigeon.  No matter how good I am at chess, the pigeon is just going to knock over the pieces, shit on the board and strut around like it's victorious.

The truth is slow, but relentless. Over time it becomes irresistible.
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