Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Well, first of all they didn't pay back a nickel of the bailout. Obama changed the rules midstream and the dividend payouts went to the Treasury instead.
They should not be allowed to ever buy a mortgage on a single family home ever again, but they do multifamily well.
This is the first thing Obama has proposed that I agree with, so I'm very worried
Well, first of all they didn't pay back a nickel of the bailout. Obama changed the rules midstream and the dividend payouts went to the Treasury instead.
They should not be allowed to ever buy a mortgage on a single family home ever again, but they do multifamily well.
This is the first thing Obama has proposed that I agree with, so I'm very worried
That's what I am saying - this is obviously out of character for his administration. It would be like if Bush was trying to pass Obamacare. This is not making any sense.
Well, first of all they didn't pay back a nickel of the bailout. Obama changed the rules midstream and the dividend payouts went to the Treasury instead.
They should not be allowed to ever buy a mortgage on a single family home ever again, but they do multifamily well.
This is the first thing Obama has proposed that I agree with, so I'm very worried
That's what I am saying - this is obviously out of character for his administration. It would be like if Bush was trying to pass Obamacare. This is not making any sense.
the other shoe will drop shortly
That's what I am saying - this is obviously out of character for his administration. It would be like if Bush was trying to pass Obamacare. This is not making any sense.
the other shoe will drop shortly
Of course it will, because American politics can take ANY good idea and mangle it into a mechanism for looting the citizenry and aggrandizing the state. I will stop short of ascribing any ulterior motives to the President on this one, it's a good idea on the surface, it would be a much better idea if he followed up by making it clear to congress that he will not sign any legislation that is not singularly focused on carrying it out and that specifies all the details necessary to accomplish it, in other words letting Congress know that he won't accept it buried in another thousands of pages monstrosity that leaves all the details up to the regulatory bureaucracy to write while masking a plethora of tax payer funded bribes and goodies for special interests.
the other shoe will drop shortly
Of course it will, because American politics can take ANY good idea and mangle it into a mechanism for looting the citizenry and aggrandizing the state. I will stop short of ascribing any ulterior motives to the President on this one, it's a good idea on the surface, it would be a much better idea if he followed up by making it clear to congress that he will not sign any legislation that is not singularly focused on carrying it out and that specifies all the details necessary to accomplish it, in other words letting Congress know that he won't accept it buried in another thousands of pages monstrosity that leaves all the details up to the regulatory bureaucracy to write while masking a plethora of tax payer funded bribes and goodies for special interests.
I see now, I didn't know they were still going to back MBS's....it all makes sense now.
Yet ANOTHER big f*cking neon flashing sign for Americans to show that we are no longer a Democratic Republic but a plutocracy.
ANOTHER example of our government extracting from the middle class to give to Wall Street and corporate interest.
Wake the f*ck up people and stop all of this dumbass Democrat vs. Republican bullshit and realize that corruption and plutocratic policies are the real enemy. We are just too stupid to realize we are being played against each other while they continue to extract our way of life to feed themselves.
Of course it will, because American politics can take ANY good idea and mangle it into a mechanism for looting the citizenry and aggrandizing the state. I will stop short of ascribing any ulterior motives to the President on this one, it's a good idea on the surface, it would be a much better idea if he followed up by making it clear to congress that he will not sign any legislation that is not singularly focused on carrying it out and that specifies all the details necessary to accomplish it, in other words letting Congress know that he won't accept it buried in another thousands of pages monstrosity that leaves all the details up to the regulatory bureaucracy to write while masking a plethora of tax payer funded bribes and goodies for special interests.
I see now, I didn't know they were still going to back MBS's....it all makes sense now.
Yet ANOTHER big f*cking neon flashing sign for Americans to show that we are no longer a Democratic Republic but a plutocracy.
ANOTHER example of our government extracting from the middle class to give to Wall Street and corporate interest.
Wake the f*ck up people and stop all of this dumbass Democrat vs. Republican bullshit and realize that corruption and plutocratic policies are the real enemy. We are just too stupid to realize we are being played against each other while they continue to extract our way of life to feed themselves.
Good points, however I would suggest that there's nothing inherently wrong with the MBS concept, as long as the risks are spelled out to investors as clearly as the potential rewards and that investors bear the FULL responsibility for those risks should they materialize, in other words if you are told it's garbage and then still elect to buy the garbage when the excrement hits the fan you are on your own to clean up the garbage (don't look for help from tax payers that didn't buy the garbage).
I see now, I didn't know they were still going to back MBS's....it all makes sense now.
Yet ANOTHER big f*cking neon flashing sign for Americans to show that we are no longer a Democratic Republic but a plutocracy.
ANOTHER example of our government extracting from the middle class to give to Wall Street and corporate interest.
Wake the f*ck up people and stop all of this dumbass Democrat vs. Republican bullshit and realize that corruption and plutocratic policies are the real enemy. We are just too stupid to realize we are being played against each other while they continue to extract our way of life to feed themselves.
Good points, however I would suggest that there's nothing inherently wrong with the MBS concept, as long as the risks are spelled out to investors as clearly as the potential rewards and that investors bear the FULL responsibility for those risks should they materialize, in other words if you are told it's garbage and then still elect to buy the garbage when the excrement hits the fan you are on your own to clean up the garbage (don't look for help from tax payers that didn't buy the garbage).
Now if the private banking industry was going to accept all the risks, there wouldn't be the need for the Feds to guarantee the MBS's. Would there?
No, this is just a way for the bankers to bump interest rates and be protected if they make the wrong bet at the casino.
Someone above mentioned "plutocracy". That person "gets" it. The rest of us are going to "get" it sometime or another. After the plutocrats control ALL the money. The 40% of the nations wealth that they control, that is just the starting point as they work to control ALL the wealth.
It will be so cool when the mortgage giants (Fannie and Freddie) are not involved in the mortgage industry. Just think. If private industry says interest rates on a mortgage should be 12%. Then there you go. 12%.
And Obama says that our government will still continue to guarantee Mortgage Backed Securities.
Just think, when all those high priced junk mortgage loans get re package into MBS's, and they go bad for the big boy investors, the Federal Government will be there to make it better.
No wonder you rethugs just love this idea. It will impose a hardship on the middle class and make the ultra wealthy a lot more money.
the government owns 50% stock in Fannie and Freddie and now they are making profits which the government did not want to happen. Since those profits actually belong to the citizens and would pay down our debt, the government didn't want that so that is why their stock is being sold.
Someone above mentioned "plutocracy". That person "gets" it. The rest of us are going to "get" it sometime or another. After the plutocrats control ALL the money. The 40% of the nations wealth that they control, that is just the starting point as they work to control ALL the wealth.
Plutocracy is only partially accurate IMHO, what we have going on is a kleptocracy and most of the citizenry is too wrapped up in partisan pissing contests to notice it.
