Since when have the dems ever cared about spending money? If this trillion dollars were to go to hiring more government employees they would be all over it.
Schumer is a fool. Remember he is the one who started the run on IndyMac.
John
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Cnbc said bailout in installments 150 billion first,the rest talk later
- Thread starter mahram
- Start date
Since when have the dems ever cared about spending money? If this trillion dollars were to go to hiring more government employees they would be all over it.
Schumer is a fool. Remember he is the one who started the run on IndyMac.
John
person on cnbc said on average the bids are at 65 cents. how did he get that number, the market is so illiquid right. Its easy to see how some of the sub stuff is being sold at 5 cents. The houses, that their paper is based on is horrible. i also dont belieave that pimco guys suggestion they will make 6 percent return. its hard to see how, with all of the recovery costs associtiated it should be much lower, maybe breakeven.
Quote from Mecro:
There is a market for this subprime crap, it's about 5 cents on the dollar. And it's not that liquid, because it's just speculation.
The subprime paper is worthless, wake up.
Quote from Mecro:
There is a market for this subprime crap, it's about 5 cents on the dollar. And it's not that liquid, because it's just speculation.
The subprime paper is worthless, wake up.
To say its worth 5 cents on the dollar is like saying 95% will go to default.
It will probably end up being worth about 65-70 cents on the dollar if held to maturity.
I completely agree with the stabilization phase-in. Paulson and Bernanke said they expect to need 50B a month. So phase 1 takes them at least through inaguration of a new administration... And that is the biggie... will the new administration approve another phase? Is phase 1 even working? Who will be in charge of the Treasury?
Osorico
Osorico
I hate to disagree but it is not like saying 95% of loans will go into default.
Many seconds are worth 0-2 cents on the dollar now and forever. Unless wall street gives out 4000 dollar a month stated income loans to people make 2000 a month or salaries triple those seconds will stay wiped out and therefore non secured.
Californians do not have to pay them back and over time every one of those loans will go into default or be compromised at a short sale for 2-3 cents on the dollar.
There are probably a few trillion of loans with virtually no security... Some are non recourse loans. You can bet those are the ones the tax payers will be sold.
Loans secured by a first lien are probably worth 40-70% and they could have a higher hold to maturity value. But those are not the ones which will be dumped on the tax payer.
Many seconds are worth 0-2 cents on the dollar now and forever. Unless wall street gives out 4000 dollar a month stated income loans to people make 2000 a month or salaries triple those seconds will stay wiped out and therefore non secured.
Californians do not have to pay them back and over time every one of those loans will go into default or be compromised at a short sale for 2-3 cents on the dollar.
There are probably a few trillion of loans with virtually no security... Some are non recourse loans. You can bet those are the ones the tax payers will be sold.
Loans secured by a first lien are probably worth 40-70% and they could have a higher hold to maturity value. But those are not the ones which will be dumped on the tax payer.
Of course it's a BAILOUT!
Back in the recession of the early nineties, the GOV established the "RTC" for example, BUT all the thrifts/S&L's were forced to go bankrupt first for being so damn stupid.
Now, the same should happen. Force these loser co's into bankruptcy. Fuck the greedy bondholders.
That's what ALL this BS is about. Some BIG BOND HOLDERS have Bernanke and Paulson in their back pocket and they're all in collusion with this RIPOFF "plan".
This time, intead of the S&L chiefs going to jail, Greenspan, Bernanke, Paulson, and Cheney ought to have their turn in camp FED.
Back in the recession of the early nineties, the GOV established the "RTC" for example, BUT all the thrifts/S&L's were forced to go bankrupt first for being so damn stupid.
Now, the same should happen. Force these loser co's into bankruptcy. Fuck the greedy bondholders.
That's what ALL this BS is about. Some BIG BOND HOLDERS have Bernanke and Paulson in their back pocket and they're all in collusion with this RIPOFF "plan".
This time, intead of the S&L chiefs going to jail, Greenspan, Bernanke, Paulson, and Cheney ought to have their turn in camp FED.
Quote from Landis82:
There is a "game-plan".
The problem is that 98% of the UNITED STATES CONGRESS knows nothing about economics or the banking system, and, they have no clue how this effects their constituents.
"Jfic" is correct.
One pint of blood for a patient that is in the ER and bleeding-out is a joke.
Again, this is NOT a "bail-out".
It is an investment by the Treasury in order to put a "bid" back into mortgage securities that facilitates price discovery that will attract private capital and improve further liquidity and clean-up the balance sheets of U.S. banks so that they can make loans again.
well nobody knows right. Thats why i think the slice and dice, the tournaquet way is the way to go. put in 250 billion, then in 3 months put in 250 billion. but not all at once.
Quote from arealpissedgoy:
how did you get 14 Trillion?
even the banks don't know the real value.
it's much closer to ZERO. As evidenced by the recent Bank failures.
Good information below, thanks. Allows a peak through the smoke and behind the mirrors. The point probably isn't whether your figures are dead-on accurate (they may be), but that the panic peddlers are betting that dead-on accuracy becomes known only after the 700 billion is plunged (and more after that almost certainly, because we'd be dumb not to do the necessary to protect that 700 b stake). So, the after-the-fact truth would be too late, except for those responsible for these losses, who will at least have had time to find refuge -- as many have already no doubt. (Where and how they find refuge I don't really know, not being criminal by nature).
Quote from jem:
I hate to disagree but it is not like saying 95% of loans will go into default.
Many seconds are worth 0-2 cents on the dollar now and forever. Unless wall street gives out 4000 dollar a month stated income loans to people make 2000 a month or salaries triple those seconds will stay wiped out and therefore non secured.
Californians do not have to pay them back and over time every one of those loans will go into default or be compromised at a short sale for 2-3 cents on the dollar.
There are probably a few trillion of loans with virtually no security... Some are non recourse loans. You can bet those are the ones the tax payers will be sold.
Loans secured by a first lien are probably worth 40-70% and they could have a higher hold to maturity value. But those are not the ones which will be dumped on the tax payer.