‘A lot of people are saying . . . ’: How Trump spreads conspiracies and innuendos

[1jkw]

25 minutes ago, Capt.Storm said:

I know what you're trying to say and yes some banks covered their ass's better then others.

Some banks did take advantage of the situation and gave out really stupid loans then bundled them with good ones and sold them..no doubt..but some where better at that game then others.

 

All I wanted to prove was that Bill was behind that push..or at least the people under his leadership were.

 

But hey nice discussing this with you without all the name calling.

Oh and fanny mac and mae were not "independent" lenders back then.

Most say they really are not now either. dunno.

The greatest percentage of bad loans were written by a relatively small number of lenders.

The truth is, had the price of energy not gotten so high and the economy slowed down it may have never happened, a guy up the road from me bought a big old brick house put all kinds of money in it and was working 60 hrs. a week things got slow and the company put everyone on part time 30 hrs. a week he lost the house , I'm sure that happened to many people.

[Capt.Storm]

1 minute ago, 1jkw said:

The greatest percentage of bad loans were written by a relatively small number of lenders.

The truth is, had the price of energy not gotten so high and the economy slowed down it may have never happened, a guy up the road from me bought a big old brick house put all kinds of money in it and was working 60 hrs. a week things got slow and the company put everyone on part time 30 hrs. a week he lost the house , I'm sure that happened to many people.

That's really reaching.

And the second part is like saying ..well I had to let my caddy go back to the bank when gas shot up.

He should never have bought it in the first place then.

Edited June 15, 2016 by Capt.Storm

[Capt.Storm]

I had to look the CDS deal..I have heard of them but never really understood them.

 

CDS trading is very complex and risk-oriented and, combined with the fact that credit default swaps are traded over-the-counter (meaning they are unregulated), the CDS market is prone to a high degree of speculation. Speculators who think that the issuer of a debt security is likely to default will often choose to purchase those securities and a CDS contract as well. This way, they ensure that they will receive their premium and interest even though they believe the issuing institution will default. On the other hand, speculators who think that the issuer is unlikely to default may offer to sell a CDS contract to a holder of the security in question and be confident that, even though they are taking on risk, their investment is safe.

Read more: Credit Default Swap (CDS) Definition | Investopedia http://www.investopedia.com/terms/c/creditdefaultswap.asp#ixzz4BggRlEKs 
Follow us: Investopedia on Facebook

[1jkw]

3 minutes ago, Capt.Storm said:

That's really reaching.

And the second part is like saying ..well I had to let my caddy go back to the bank when gas shot up.

He should never have bought it in the first place then.

It really isn't reaching, a guy working a job making x number of dollars and getting by when all of a sudden it costs him 2000.00 to fill his home heating oil tank instead of 1000.00 and his weekly gasoline bill goes from 75.00 to 150.00 a week and his hrs. are cut it put many in that situation.

I think it would shock many people to know that many are just getting out from under credit card debt. and what was owed to heating oil and propane suppliers.

My wife and I have always lived within or even under our means, had we not when diesel fuel was 5.00 per gallon it would have put a real hurting on us.

I agree he should have been more careful, many people in the same boat though and another reason people are less confident now than before.

[1jkw]

2 minutes ago, Capt.Storm said:

I had to look the CDS deal..I have heard of them but never really understood them.

 

CDS trading is very complex and risk-oriented and, combined with the fact that credit default swaps are traded over-the-counter (meaning they are unregulated), the CDS market is prone to a high degree of speculation. Speculators who think that the issuer of a debt security is likely to default will often choose to purchase those securities and a CDS contract as well. This way, they ensure that they will receive their premium and interest even though they believe the issuing institution will default. On the other hand, speculators who think that the issuer is unlikely to default may offer to sell a CDS contract to a holder of the security in question and be confident that, even though they are taking on risk, their investment is safe.

Read more: Credit Default Swap (CDS) Definition | Investopedia http://www.investopedia.com/terms/c/creditdefaultswap.asp#ixzz4BggRlEKs 
Follow us: Investopedia on Facebook

I could read that shit 10 times and still not understand it, that's why I ask people who know about it to dumb it down for me.

Remember Bear Sterns,  and Countrywide those guys royally screwed us.

[Capt.Storm]

1 minute ago, 1jkw said:

I could read that shit 10 times and still not understand it, that's why I ask people who know about it to dumb it down for me.

Remember Bear Sterns,  and Countrywide those guys royally screwed us.

Yep!

[racer254]

4 hours ago, 1jkw said:

The greatest percentage of bad loans were written by a relatively small number of lenders.

The truth is, had the price of energy not gotten so high and the economy slowed down it may have never happened, a guy up the road from me bought a big old brick house put all kinds of money in it and was working 60 hrs. a week things got slow and the company put everyone on part time 30 hrs. a week he lost the house , I'm sure that happened to many people.

I happen to think your correct.  I don't have to explain who is causing this.

[1jkw]

5 minutes ago, racer254 said:

I happen to think your correct.  I don't have to explain who is causing this.

It's the biggest scam in history. But it's something we all want and need if you want to play you have to pay.

To be honest it would be hard not to do the same thing if I were in the position to do so.

[Capt.Storm]

Fawk I remember the oil embargo of 74. :wall;

[Cold War]

14 hours ago, 1jkw said:

It really isn't reaching, a guy working a job making x number of dollars and getting by when all of a sudden it costs him 2000.00 to fill his home heating oil tank instead of 1000.00 and his weekly gasoline bill goes from 75.00 to 150.00 a week and his hrs. are cut it put many in that situation.

I think it would shock many people to know that many are just getting out from under credit card debt. and what was owed to heating oil and propane suppliers.

My wife and I have always lived within or even under our means, had we not when diesel fuel was 5.00 per gallon it would have put a real hurting on us.

I agree he should have been more careful, many people in the same boat though and another reason people are less confident now than before.

Same here.

Even though we were approved for a mortgage well beyond what we could of spent. We were still able to make our house payment & pay our bills once the market crashed.

Our friends who opted for the huge house and big lease vehicles...............Just stopped paying..

We had friends that stayed in their homes for free, for  years.

They have all moved on, penalty free, with new large homes, that they were able to secure with the money they saved from living rent free, and lowered house prices.

The wife and I are still paying on our modest home, that is still under water.

So excuse me, if I am not crying for the poor consumer, who was bilked by the big bad banks.

 

 

 

 

 

 

[Mainecat]

https://youtu.be/dOYrFNWUIr8

[racer254]

7 minutes ago, Cold War said:

Same here.

Even though we were approved for a mortgage well beyond what we could of spent. We were still able to make our house payment & pay our bills once the market crashed.

Our friends who opted for the huge house and big lease vehicles...............Just stopped paying..

We had friends that stayed in their homes for free, for  years.

They have all moved on, penalty free, with new large homes, that they were able to secure with the money they saved from living rent free, and lowered house prices.

The wife and I are still paying on our modest home, that is still under water.

So excuse me, if I am not crying for the poor consumer, who was bilked by the big bad banks.

 

 

 

 

 

 

 

And no consequences for their actions.  And yet you get penalized for doing the correct thing Economically.

 

[Cold War]

10 minutes ago, racer254 said:

 

And no consequences for their actions.  And yet you get penalized for doing the correct thing Economically.

 

Spot on.

To be honest, I used to feel proud about what we did, but now I just feel like a fool.

 

[racer254]

1 minute ago, Cold War said:

Spot on.

To be honest, I used to feel proud about what we did, but now I just feel like a fool.

 

Yep, it is a learned behavior.  Why do you think our country is so far in debt.  Someone had to cover those payments that were not made.  And those people all got away with it.  And suddenly, it's the responsible people that feel exactly like you.  I feel the same way many times when I hear people bragging about maxing out their credit card then declaring bankruptcy. 

[1jkw]

1 hour ago, Cold War said:

Same here.

Even though we were approved for a mortgage well beyond what we could of spent. We were still able to make our house payment & pay our bills once the market crashed.

Our friends who opted for the huge house and big lease vehicles...............Just stopped paying..

We had friends that stayed in their homes for free, for  years.

They have all moved on, penalty free, with new large homes, that they were able to secure with the money they saved from living rent free, and lowered house prices.

The wife and I are still paying on our modest home, that is still under water.

So excuse me, if I am not crying for the poor consumer, who was bilked by the big bad banks.

 

 

 

 

 

 

We wouldn't be having this discussion, had the regulators, bankers and brokers done their jobs period.

While I'm not crying for anyone bilked by the banks, I am pissed that the bankers, regulators and brokers aren't in jail for gross and willful negligence, and the money they took wasn't taken back from them.

The guy I was talking about didn't get a mortgage that was outrageous, he went from working 60 hrs. a week to 30 in a job he had for 20 + years that he had never worked less than 45 hrs. in those 20 years his wife lost her job at the same time, I was only trying to point out that had the economy not slowed do to the price of energy we may have skipped over the housing disaster for a while.

[1jkw]

1 hour ago, racer254 said:

 

And no consequences for their actions.  And yet you get penalized for doing the correct thing Economically.

 

All because the people in charge of giving out the money didn't do their jobs, had they done their jobs we wouldn't be discussing this.

[racer254]

2 minutes ago, 1jkw said:

All because the people in charge of giving out the money didn't do their jobs, had they done their jobs we wouldn't be discussing this.

And did they have any consequence for NOT doing their jobs?  NOPE.  Instead the taxpayers were just able to cover the costs.

 

[1jkw]

1 minute ago, racer254 said:

And did they have any consequence for NOT doing their jobs?  NOPE.  Instead the taxpayers were just able to cover the costs.

 

No they didn't, they should be in jail for gross  and willful negligence and stripped of all money and property, the regulators should be in jail and lose all pensions and life benefits.

[Capt.Storm]

16 minutes ago, 1jkw said:

All because the people in charge of giving out the money didn't do their jobs, had they done their jobs we wouldn't be discussing this.

but you do know it was Billy and the feds who pushed the banks for those way below sub-prime loans right?

[racer254]

10 minutes ago, 1jkw said:

No they didn't, they should be in jail for gross  and willful negligence and stripped of all money and property, the regulators should be in jail and lose all pensions and life benefits.

And who was responsible for this?  DOJ?  Those elites in washington didn't really care and they were able to get the taxpayers to cover their buddies.

 

[1jkw]

3 minutes ago, Capt.Storm said:

but you do know it was Billy and the feds who pushed the banks for those way below sub-prime loans right?

You do know that W bragged about how many new home owners there were during his time  don't you? The fed asked for looser rules, not no rules. The rules weren't followed period. When a borrower came in with less than stellar credit their application needed to be reviewed, and not dismissed out of hand, when the borrower could not get PMI it was supposed to be the end of the process period, then came along cds and the rest is history.

[Capt.Storm]

Just now, 1jkw said:

You do know that W bragged about how many new home owners there were during his time  don't you? The fed asked for looser rules, not no rules. The rules weren't followed period. When a borrower came in with less than stellar credit their application needed to be reviewed, and not dismissed out of hand, when the borrower could not get PMI it was supposed to be the end of the process period, then came along cds and the rest is history.

But W did not lower the standards ,Billy did.

CDS's were a shell game no doubt...but the banks were not going to take the looses that they knew were coming because of the mandates from billy and his crew...not that hard to understand right?

[Mainecat]

1 hour ago, 1jkw said:

We wouldn't be having this discussion, had the regulators, bankers and brokers done their jobs period.

While I'm not crying for anyone bilked by the banks, I am pissed that the bankers, regulators and brokers aren't in jail for gross and willful negligence, and the money they took wasn't taken back from them.

The guy I was talking about didn't get a mortgage that was outrageous, he went from working 60 hrs. a week to 30 in a job he had for 20 + years that he had never worked less than 45 hrs. in those 20 years his wife lost her job at the same time, I was only trying to point out that had the economy not slowed do to the price of energy we may have skipped over the housing disaster for a while.

This is where the Fed needed to step in take over these type of mortgages, re write them for longer terms and lower rates.

Instead they revived dead mortgage institutions they should have left dead and millions were tossed out of their homes and that made the recession worse.

 

[Capt.Storm]

3 minutes ago, Mainecat said:

This is where the Fed needed to step in take over these type of mortgages, re write them for longer terms and lower rates.

Instead they revived dead mortgage institutions they should have left dead and millions were tossed out of their homes and that made the recession worse.

 

You will never get it or understand what really happened ..because you don't want too.

The people who you wanted to fix it are the very same who caused it.

Edited June 16, 2016 by Capt.Storm

[1jkw]

9 minutes ago, racer254 said:

And who was responsible for this?  DOJ?  Those elites in washington didn't really care and they were able to get the taxpayers to cover their buddies.

 

I would say everyone from the pres. to every member of the house and senate and anyone under them.

The problem maybe that that these were rules and guidelines not laws with penalties attached, I don't know but I know it's wrong.