The Big Bail OUt

[Ðiego]

Yes, yes..and let's see, who is it calling for the government to dole out another $300 billion to refinance those mortgages? Some 'bleeding heart liberal' no doubt....

Ah, there it is and true to form, it's John McCain. Fucking liberal bast..erm, wait a minute! WTF?!? Why that pandering son of a bitch!


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[Nicobie]

Originally Posted by Ðiego

Ah, there it is and true to form, it's John McCain. Fucking liberal bast..erm, wait a minute! WTF?!? Why that pandering son of a bitch!


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I'm not too happy about giving to the financial sector to keep us on a level track and not too sure McCain's give aways are affordable.

BUT.

I can guarantee that the dick-eared pinhead Obama will never pull off any of the free chit he is proposing.

Free health care as good as member of congress gets. Hahahahaha.... yea right.


Another expensive "bonus" for every citizen. What good did the last one do? And who will pay for it?


Free college for everyone, no matter how stupid or lazy they are. Sure thing Bubba...

Lower taxes for 95% of us. (the biggest lie of all).

It is just the same old crap from a politician who is 'owned' by the Daley Chicago machine. :bow:

Many promises, zero follow thru.

[Ðiego]

You've GOT to stop fucking that cow, Nic


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[Ðiego]

McCain changes homeowner plan

Sen. John McCain (R-Ariz.) made an overnight change in the homeowner bailout he proposed at Tuesday’s presidential debate, making it more generous to financial institutions and more costly for taxpayers.

McCain's staff says it was always meant that way.

When McCain sprung his surprise idea at the start of the debate in Nashville, his campaign posted details online of his American Homeownership Resurgence Plan, which would direct the government to buy up bad home mortgages, allowing strapped people to keep their property.

The document posted and e-mailed by the McCain campaign on Tuesday night says at the end of its first full paragraph: “Lenders in these cases must recognize the loss that they’ve already suffered.”

So the government would buy the mortgages at a discounted rate, reflecting the declining value of the mortgage paper.

But when McCain reissued the document on Wednesday, that sentence was missing, to the dismay of many conservatives.

That would mean the U.S. would pay face value for the troubled documents, which was the main reason Sen. Barack Obama (D-Ill.) gave for opposing the plan.

A McCain campaign official explained the change: “That language was mistakenly included in the initial draft and it’s been corrected. It doesn’t reflect the intentions of the initiative, which necessitated the correction and the removal of the sentence. A simple mistake.”

Obama Campaign Economic Policy Director Jason Furman said in the campaign statement opposing McCain's plan: "John McCain wants the government to massively overpay for mortgages in a plan that would guarantee taxpayers lose money, and put them at risk of losing even more if home values don’t recover. The biggest beneficiaries of this plan will be the same financial institutions that got us into this mess, some of whom even committed fraud."

The McCain campaign estimates in both documents that the plan would cost about $300 billion.

What a fart smeller he is..


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[multi]

"As the market began to seize up and as the market for the underlying obligations began to perform poorly, everybody wanted to get paid, had a right to get paid on those credit default swaps. And there was no 'there' there. There was no money behind the commitments. And people came up short. And so that's to a large extent what happened to Bear Sterns, Lehman Brothers, and the holding company of AIG," he explains.

In other words, three of the nation's largest financial institutions had made more bad bets than they could afford to pay off. Bear Stearns was sold to J.P. Morgan for pennies on the dollar, Lehman Brothers was allowed to go belly up, and AIG, considered too big to let fail, is on life support to thanks to a $123 billion investment by U.S. taxpayers.

"It's legalized gambling. It was illegal gambling. And we made it legal gambling…with absolutely no regulatory controls. Zero, as far as I can tell," Dinallo says.

"I mean it sounds a little like a bookie operation," Kroft comments.

"Yes, and it used to be illegal. It was very illegal 100 years ago," Dinallo says.

The Bet That Blew Up Wall Street

[malvachat]

All I can say is.

[Nicobie]

yes, and I wish I had a ton of pot too.

The liquor industry always does well in times of trouble.


The best investment I ever made was buying 3 pallets of R12 freon. Paid $.29 a pound and ended up selling it for (well) over $30.00 a lb. It is not that I'm all that smart. All I did was read the newspapers.

[Nicobie]

Originally Posted by Ðiego

You've GOT to stop fucking that cow, Nic


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Seems as if the cow will be getting ate if Obamawama gets in.

You can get full for awhile or get milk forever. Take U're pick peeps....