Falling dollar.. Good or bad?

[Old Salt]

They should have been able to pass it with only their Democrat majority. House Speaker Pelosi says they got 60% of their party.

The country will go on. The banking institutions in trouble will be taken over by the stronger ones left.

What they need to do is change the banking regulations so that those securities are no longer valued at the value of the worst element. From what I understand, if a package consists of 98% solid mortgages, it's valued at the 2% worst performing mortgages - hence the loss of value on paper.

The American people need to be weaned off of credit. There are times, for major purchases, where it's necessary. But everyday purchases? For instance, you know that the kids need new clothes for school - set aside a certain portion of your paycheck every week/month to pay for them. That portion could be the amount you'd have to pay on your credit card bill if you used credit. You'd even be getting paid interest instead of paying interest.

 

[wez]

They should have been able to pass it with only their Democrat majority. House Speaker Pelosi says they got 60% of their party.
The country will go on. The banking institutions in trouble will be taken over by the stronger ones left.

What they need to do is change the banking regulations so that those securities are no longer valued at the value of the worst element. From what I understand, if a package consists of 98% solid mortgages, it's valued at the 2% worst performing mortgages - hence the loss of value on paper.

If nothing else.. I know I sure as **** didn't want to buy bad debt from banks.. Whoever thought that was a good idea needs a brain transplant..

Watch houses tumble now... Unless you got cash.. good luck getting a mortgage.. The way it should be. Maybe prices will once again reflect reality.

Plus, no matter the consequences.. any policy of socialism defeated is a good thing in my mind.

Barny Frank is an idiot.

 

[wez]

The American people need to be weaned off of credit. There are times, for major purchases, where it's necessary. But everyday purchases? For instance, you know that the kids need new clothes for school - set aside a certain portion of your paycheck every week/month to pay for them. That portion could be the amount you'd have to pay on your credit card bill if you used credit. You'd even be getting paid interest instead of paying interest.

No doubt.. if it's gotta be cold turkey.. so be it. Shoulda saved for a rainy day.. and it's pouring.

 

[wez]

Oooops.. make that a 700 + point freefall.. so far.. good.. maybe that'll learn em that working people aren't a bottemless well of cash.

Poor ******* commies.. they weren't suppose to have any risk!

 

[Old Salt]

And they only needed 13 more votes. If they can get a re-vote, I'm sure they can bully or bribe 13 of their members.

 

[wez]

And they only needed 13 more votes. If they can get a re-vote, I'm sure they can bully or bribe 13 of their members.

Well, ya know it aint the last we heard of this ****.. Bush devoted a whole 4 1/2 minutes to this mother of all economic crisis's this morn to praise the plan.. Then he prolly went golfing.

Course there was no details.. Crooks and liars hate details.. Glad his party snuffed it, for the most part.

Just saw Naaaaaaancy laying all the blame on the Repubs..... Saying they hurt the American people for political reason? She is a moron.

They all need to go.. Repubs and Dems alike.. Can only blame each other for so long..

 

[Old Salt]

And oil is down today. Could it be that people sold their oil interests to get money to buy stocks at rock bottom prices? Lower oil prices hurt the Russians and Hugo Chavez.

 

[wez]

And oil is down today. Could it be that people sold their oil interests to get money to buy stocks at rock bottom prices? Lower oil prices hurt the Russians and Hugo Chavez.

Or sold to pay the mortgage.. and buy food.

****, I was tired.. layed down and zonked.. I see the final tally was close to down 800.. wowsa.. bloodbath.

 

[ImWithStupid]

And oil is down today. Could it be that people sold their oil interests to get money to buy stocks at rock bottom prices? Lower oil prices hurt the Russians and Hugo Chavez.

Time for one or the other to get into some kind of incident that will send prices higher.

 

[wez]

Time for one or the other to get into some kind of incident that will send prices higher.

Most likely.. Invade Alaska?

Sh t... I don't think 9% interest is sounding too hot anymore.. might hafta demand 20% pretty quick if this "credit freeze" continues much longer..

I'm a ruthless *******..

 

[Old Salt]

Or sold to pay the mortgage.. and buy food.
****, I was tired.. layed down and zonked.. I see the final tally was close to down 800.. wowsa.. bloodbath.

The number was the largest, but percentage wise (7%), it didn't make the top ten.

 

[wez]

The number was the largest, but percentage wise (7%), it didn't make the top ten.

Yeah.. what was "black monday" in 87'? Like 25%?

I got no proof to back it up as there will never be any.. But I think all this **** was planned and designed for 1 purpose mainly..

To pull the rug and keep most baby boomers from being able to retire..

I see Wachovia collapsed too... gonna be bought by sh ittybank for $1 a share... R.I.P.

 

[Fullauto]

hip hip hurray!

it FAILED ! !

dow down 777... almost 7% in one day!

 

[snafu]

hip hip hurray!it FAILED ! !

dow down 777... almost 7% in one day!

Bush and a host of leading congressional figures had implored the lawmakers to pass the legislation despite howls of protest from their constituents back home. Not enough members were willing to take the political risk just five weeks before an election.

"No" votes came from both the Democratic and Republican sides of the aisle. More than two-thirds of Republicans and 40 percent of Democrats opposed the bill.

Haha.. Nobody wanted there finger prints on this one.

 

[wez]

Haha.. Nobody wanted there finger prints on this one.

Funny, eh?

Goes to show ya what kind of folks we got "looking after us" ... If this was so good for us and necessary like morons have been claiming.. what was the problem?

Lying sacks -o- sh t..

 

[wez]

hip hip hurray!it FAILED ! !

dow down 777... almost 7% in one day!

Don't think the bleedings done yet either.. you may get your wish.

But you'll still have to pay your debt... and it'll be much harder..

 

[Fullauto]

Funny, eh?
Goes to show ya what kind of folks we got "looking after us" ... If this was so good for us and necessary like morons have been claiming.. what was the problem?

Lying sacks -o- sh t..

pretty sure they were looking to have thier OWN investments bailed out by the American tax payer...

funny... for years since the f00king hippies graced our shores, the middle class was told its our duty, and responsibility to bail out the poor, and unfortunate... Now we are told we need to bail out the rich and fortunate!

WTF ! ! !

 

[wez]

pretty sure they were looking to have thier OWN investments bailed out by the American tax payer...
funny... for years since the f00king hippies graced our shores, the middle class was told its our duty, and responsibility to bail out the poor, and unfortunate... Now we are told we need to bail out the rich and fortunate!

WTF ! ! !

Hahahaha.. like I've known for years.. the real welfare cases wear Armani suits, live in mansions, and ride around in limo's..

I guess it's only natural they'd do anything in their power to anyone to maintain their gravy train..

Like I also say.. they are their own worst enemy and will lose it by their own hand..

 

[wez]

I forgot too.. this big a drop whilst the short sellers are banned for the time being.. ouch...

R.I.P. economy as we knew it..

Hey.. I got a crazy idea.. lets replace it with a new one based on freedom, cooperation and honesty!

 

[Anna Perenna]

I forgot too.. this big a drop whilst the short sellers are banned for the time being.. ouch...
R.I.P. economy as we knew it..

Hey.. I got a crazy idea.. lets replace it with a new one based on freedom, cooperation and honesty!

You know, I'm currently writing a paper on true-cost economics. If you're really interested, I could send it to you.