CountryBoys's Account Talk

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Yep, and the coming months into the election will be more focused on the economy. There is a lagging effect for that right now. Everyone is waiting to see what the Congress will do. It's Wednesday and they will be under real big pressure Thursday.
 
I didn't know where to put this, but it sure will be interesting if it makes it into the $700 B bailout. Maybe a Mod can move it somewhere better if they think it'll help.

Groups Seek Whistle-Blower Protection in Bailout Legislation

"At a minimum, any credible solution must address one of the current crisis' fundamental causes -- corruption and other abuses of power sustained by secrecy," the letter said. "Otherwise, the taxpayers could end up giving $700 billion more to repeat the same disasters. Congress must prove it has learned this lesson. Any genuine solution must be grounded in transparency, with all relevant records publicly available and best practice whistleblower protection for all employees connected with the new law."

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/23/AR2008092303098.html


CB
 
CountryBoy said:
Yeah, we are in agreement, I'm worried that neither one is realistically telling us how they are going to pay for all they are promising. Shape of the table, wasn't that a joke from MASH? :laugh:

CB
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Yes, the MASH reference is from the negotiator's joke. It comes from a negotiation which couldn't get started because there was no agreement on who would sit at the head of a long table, they didn't want the head and foot empty with both sides facing, and when a (fustrated) U.S. negotiator said why not a round table, that wasn't acceptable either. It may have been the Korean War negotiations, I thought it was one with the Vietnamese, but it's a long time from my negotiating class days (nearly 20 years ago) so I can't put my finger on who else besides the U.S. was at the table.
 
Silverbird said:
Yes, the MASH reference is from the negotiator's joke. It comes from a negotiation which couldn't get started because there was no agreement on who would sit at the head of a long table, they didn't want the head and foot empty with both sides facing, and when a (fustrated) U.S. negotiator said why not a round table, that wasn't acceptable either. It may have been the Korean War negotiations, I thought it was one with the Vietnamese, but it's a long time from my negotiating class days (nearly 20 years ago) so I can't put my finger on who else besides the U.S. was at the table.
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Yeah the joke was from MASH, but I believe you're right about it actually happened with the Vietnamese. I seem to recall reading about that years ago.

CB
 
Obama said this week he may have to put back some of his spending and tax rebalancing ideas depending on economic (read: govt debt obligations) conditions. This I think is the most we are going to get in an election year, so I like his answer better than McCain's.
 
Silverbird said:
Obama said this week he may have to put back some of his spending and tax rebalancing ideas depending on economic (read: govt debt obligations) conditions. This I think is the most we are going to get in an election year, so I like his answer better than McCain's.
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Silverbird,

We just ain't going to agree on each other's selection for prez. We agree on what needs to be done and what is happening to this country is wrong, but not who is best to solve our problems or protect this country. I just believe that Obama is a socialist and has a socilaist agenda, by taking from the smart and successful and giving to the dumb and lazy. It's just that plain and simple to me.

I just don't agree with his morals and ethics and the type of people he has surrounded himself with. And I believe he should have used the word "will" have to cut back on his spending. Just his plan to end global hunger by giving the UN billions of our tax dollars, alone is enough for me not to vote for him. We have plenty of hunger in our own country we need to take care of.

And if McCain thinks he can have his cake and eat it too, then he needs the same reality check that obama needs. All we have to chose from as president this year are a couple of second stringers. Neither one of them is worth a bucket of warm spit.

I don't care much about what those 2 say, it's all spin or taken out of context or both. What I look for in a person is what they have done in the past, how they have voted and who their past/present advisors are/were. That speaks volumes to me and tells me, at least, who the real person they are. For example, would I hang out with 2 weathermen underground terrorists from the 60's? No I wouldn't, anyone who would set off bombs and to this day are still not ashamed or regretful would be no pal of mind. We just have different views on how to take the measure of a man.

So we have to vote our beliefs and we just have a different thoughts on who is best to try and stop this cluster F***, that has been building since Greenspan's days. Nothing at all personal towards you and I don't want it to turn into something personal. :D

No hard feelings here. It just takes all kinds.

JMHO CB
 
Good post CB, I feel the same way, and yes I do judge people by their friends. Oh make that Greenspan/Clinton!!:D
 
nnuut said:
Good post CB, I feel the same way, and yes I do judge people by their friends. Oh make that Greenspan/Clinton!!:D
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Thanks NNUUT,

We're all in this thing together and I'm beginning to think that Paulson is owned lock, stock and barrel by the boys on Wall Street and not fighting for whats best for us and I believe that Congress is up to their hamhocks in the shenigans that has been going on with Fannie and Freddie and maybe even Lehman. This bailout smells worse and worse and why the big hurry? Cause if we mess this up, we're outta ammo. Yep forgot to add that addition to Greenspan.:D

CB
 
Show-me said:
Welcome to your front seat viewing of "The Fall of the Empire".
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If this bill goes thru it may be "The Empire Stikes Back at your retirement".

We're all in this thing together and I'm beginning to think that Paulson is owned lock, stock and barrel by the boys on Wall Street and not fighting for whats best for us and I believe that Congress is up to their hamhocks in the shenigans that has been going on with Fannie and Freddie and maybe even Lehman. This bailout smells worse and worse and why the big hurry? Cause if we mess this up, we're outta ammo. Yep forgot to add that addition to Greenspan.
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CB, I agree. I think GS is in trouble and the 5B from Buffet is only to tide them over until the real money starts flowing. Everything Paulsen has done so far has benefited GS. How much of the unregulated CDS do you think they are holding??
 
Just remember folks the big ARM resets are coming in 2009. That is what this is all about. Guarantee it. They now know how bad it is and want desperately to get those '09 and '10 ARM resets off the book and quick.
 
justbizness45 said:
If this bill goes thru it may be "The Empire Stikes Back at your retirement".



CB, I agree. I think GS is in trouble and the 5B from Buffet is only to tide them over until the real money starts flowing. Everything Paulsen has done so far has benefited GS. How much of the unregulated CDS do you think they are holding??
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I couldn't even begin to guess at the amount of CDS's they are holding. My fear is enough to bring them down, but that's just a WAG, based on how the other financials have been trying to cover up their bad paper.

CB
 
Show-me said:
Just remember folks the big ARM resets are coming in 2009. That is what this is all about. Guarantee it. They now know how bad it is and want desperately to get those '09 and '10 ARM resets off the book and quick.
Click to expand...

Yep Show-me,

Those resets have been on my mind for at least the last 6 months, that's why I think we got more pain to come. I believe we're only about half way thru this sub prime mess. I'll be protecting my TSP this close to retirement, with quick in and outs as my IFT's allow, but will be buying for who bit the chunk for my ROTHS, cause we'll come back from this, I just think it'll be a year or so longer than the experts think.

CB
 
Boy I'm so tempted to jump into the C or S, but with the jobs report tomorrow and any delay by the house in passing the Bailout bill, because of the additional $150 Billion in pork barrel, it really makes me feel it might be a day or 2 early to push.

Dang these 2 IFT's. If it wasn't for that I'd push in, but I gotta save my powder. Oh well, its just the 2nd of Oct. no use to get anxious.

CB
 
Show-me said:
Just remember folks the big ARM resets are coming in 2009. That is what this is all about. Guarantee it. They now know how bad it is and want desperately to get those '09 and '10 ARM resets off the book and quick.
Click to expand...
Show-me, I have been trying to find the internet version of an article that ran in the Cleveland Plain Dealer this morning but not having any luck. Anyway the headline is "Borrows can swap for Hope" "Program offers troubled owners cheaper loans" by Marilyn Geewax - Cox News Service. The Associated Press also contributed to the article. The main part of the story talks about the Housing and Economic Recovery Act of 2008 that was approved in July by Congress will help about 400,000 troubled home owners swap their mortgage loans for more affordable loans. The article talks about ARM's and HUD and the FHA have something to do with it. It is a three year program to refinance up to $300 billion in mortgages.

Since I am at work I can not spend too much time looking for the article. Maybe someone else will have some luck. If I do not see anything this evening I will scan the article at home and post it tomorrow.
 
nasa1974 said:
Show-me, I have been trying to find the internet version of an article that ran in the Cleveland Plain Dealer this morning but not having any luck. Anyway the headline is "Borrows can swap for Hope" "Program offers troubled owners cheaper loans" by Marilyn Geewax - Cox News Service. The Associated Press also contributed to the article. The main part of the story talks about the Housing and Economic Recovery Act of 2008 that was approved in July by Congress will help about 400,000 troubled home owners swap their mortgage loans for more affordable loans. The article talks about ARM's and HUD and the FHA have something to do with it. It is a three year program to refinance up to $300 billion in mortgages.

Since I am at work I can not spend too much time looking for the article. Maybe someone else will have some luck. If I do not see anything this evening I will scan the article at home and post it tomorrow.
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I read about it awhile back. At least I think this is the one you are talking about. Good program but probably won't get much activity. Must be paying 31% of your income on your mortgage and the bank has to agree to a write down on the balance. Most banks won't agee to the write down. If I got this wrong, somebody please correct.
 
justbizness45 said:
I read about it awhile back. At least I think this is the one you are talking about. Good program but probably won't get much activity. Must be paying 31% of your income on your mortgage and the bank has to agree to a write down on the balance. Most banks won't agee to the write down. If I got this wrong, somebody please correct.
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justbizness45, I don't know what would be the right way to shorten your name.:confused: Anyway, I would think if the bank had a choice of getting $400.00 a month verses nothing and having to foreclose they would most likely remortgage at a lower rate. But not sure what kind of incentives are in the HOPE act for the banks.:confused:
 
nasa1974 said:
justbizness45, I don't know what would be the right way to shorten your name.:confused: Anyway, I would think if the bank had a choice of getting $400.00 a month verses nothing and having to foreclose they would most likely remortgage at a lower rate.
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JB45 works .;) I will answer to most things. I would have also thought that way. The article I read didn't seem to think the banks would go for it due to the write down of the mortgage. It seems to me if they loaned 500,000 and the property is only worth 400,000 now and the guy can handle to mortgage payment at that level. It would be better to take the writedown than going through foreclosure and not knowing what you are going to get for it or when. JMO
 
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