Anybody get the email from Key Financial?

[arnguy]

Na, a famous (I beleive more than one) writer use commas like I or I'm simply stealing from him! If it aggravates you, great!

Name them.

BTW, it's lying----not lieing.

 

[Mr. Bill]

I don't believe we should be bailing out the financial institutions. Also didn't believe we should in 1998.

Face it, the Federal Reserve is made up of member banks. No, not government banks, privately held (although publicly traded) banks.

Should be abolished.

 

[sman]

I don't believe we should be bailing out the financial institutions. Also didn't believe we should in 1998.

Face it, the Federal Reserve is made up of member banks. No, not government banks, privately held (although publicly traded) banks.

Should be abolished.

Bill,

Are you replying to me? I got the email as if this were a reply to me. I don't recall stating we should bail out the financial institutions.

 

[Mr. Bill]

Oh, just saw this....go git 'em, tigers!!!!

Wall Street faces fury over subprimes - Yahoo! News

And none of that Martha Stewart pansy pokey, either!

 

[Mr. Bill]

Bill,

Are you replying to me? I got the email as if this were a reply to me. I don't recall stating we should bail out the financial institutions.

No, I think James was being sarcastic in that I was saying go after the realtors who misrepresented, the mortgage brokers who flat out lied, but I failed to mention the lenders/employees/underwriter types.

By the way, they really wouldn't have had a problem if they were carrying their own loans and just being stupid. The real scam artists were selling their booty and passing it off as good debt.

The banks were absolutely disgusting too, though. I may have mentioned on this board that I had heard the #1 problem WaMu was having last August was getting the very first payment (you know, of 360!) from fresh loans. Gee! Sign of trouble???? And they weren't selling the loans (to my knowledge).

 

[Mr. Bill]

Oh, here's one example and by the way, I love GNR:

the Real Estalker: Slash Sues

 

[Ahnuld]

Oh well, in a year or two more then likely home prices will be down and people will start buying again in large numbers. By the way, can anyone tell me what the average starter home in CA, MA or NJ is going for nowadays?

It depends on what you mean by a "starter home," but in Coastal California counties (Bay Area to the Mexican border), the median household income to afford the median home (down from $484,000 in May to $402,000 in December 2007 - source: DataQuick) is over $150,000 with 5% down. San Francisco is $200,000, San Diego over $190,000, Los Angeles and Alameda (Oakland) counties are $145,000. Ouch.

 

[sman]

Oh, here's one example and by the way, I love GNR:

the Real Estalker: Slash Sues

I'm a big fan of GNR myself. What a shame they couldn't keep it together. Loved Appetite for Destruction and Use Your Illusion 1 & 2. GNR Lies and The Spaghetti Incident were just so-so.

As for the suit, one of the issues was the parking (or lack thereof)? Didn't they go see the house before they bought it? You would think they could have figured that one out just by seeing the place. This is one of those lawsuits that should require the plaintiff to pay all costs (defendants as well) if he/she loses the suit.

 

[sman]

No, I think James was being sarcastic in that I was saying go after the realtors who misrepresented, the mortgage brokers who flat out lied, but I failed to mention the lenders/employees/underwriter types.

By the way, they really wouldn't have had a problem if they were carrying their own loans and just being stupid. The real scam artists were selling their booty and passing it off as good debt.

The banks were absolutely disgusting too, though. I may have mentioned on this board that I had heard the #1 problem WaMu was having last August was getting the very first payment (you know, of 360!) from fresh loans. Gee! Sign of trouble???? And they weren't selling the loans (to my knowledge).

Yep, yep and yep. And they should suffer consequences. My whole point when the original topic was changed to this topic is that the entire economy may suffer because of these people. So if temporarily reducing rates eases this some, I'm all for it. That isn't a government bail out nor does it increase the size of government. And rates can always be increased if we start seeing more inflation.

This whole stimulus package is a crock. I wish we could get some true fiscal conservatives in Washington and the White House. But it doesn't appear that is going to happen anytime soon.

 

[Mr. Bill]

Agreed. It is a really, really, big mess.

As far as "celebrities", they have People. And limos and drivers and stuff like that. It wouldn't surprise me if Slash was being driven to the house and suddenly, without even knowing, he's arrived!!! Now, exactly where did that driveway start? How would he know, he was driven to the front door? Who knows. Seems kinda weird, but it wouldn't surprise me if he is successful in his suit. There will be more....

On another note, more good news from the financial sector. Note that Goldman Sachs (complicit in the demise) is saying commercial real estate values will drop by 26%. Now, that would be just great. We are giving all our available cash to the OPEC nations, and we allow them to purchase whatever the heck properties they want, without restriction. Might as well give our friends-for-ever Saudis our commercial real estate as well, huh?:

Wall St. Banks Confront a String of Write-Downs - New York Times

Let's not forget that the Dubai Ports World mess was all for show. Nancy and Harry didn't have anything better to do at the time.