Re: Home Foreclosures: Crisis Is Only Getting Deeper, conservatives echo Custer, indians, what indians?

On Thu, 15 May 2008 11:34:19 -0700 (PDT), milt.shook@[EMAIL PROTECTED]
 wrote:

>On May 14, 8:02 pm, "Patriot" <liber...@[EMAIL PROTECTED]
> wrote:
>> Dumb ****ing idiots shouldn't have bought a home that they couldn't
afford.
>>
>> Now that's common sense!
>
>You know how you can tell that someone doesn't have the slightest idea
>what's happening in this situation?
>
>They say something as stupid as the above.
>

Like the following?


"Yeah. If you bought the stock at $50 a share and it's now worth $25,
the shares have a negative equity of 50%. I mean, DUH! 
 -- Milt.Shook  
http://groups.google.com/group/alt.society.liberalism/msg/cdf601a5bedc09d4?hl=en&

Canyon Note:  I mean, DUH! 




"Only you could think that writing a check to cover a 
reduction in assets doesn't consitute a loss."
--Milt Shook
http://groups.google.com/group/alt.impeach.bush/msg/0b2e8e4604b22581?hl=en&

Canyon Note:  Actually, the reduction in assets is the only loss.




"And if I sell stock, my asset level is reduced by the 
amount of that stock, EVEN IF the stock I sell is sold 
for more than I paid for it." 
--Milt Shook.
http://groups.google.com/group/alt.impeach.bush/msg/0f58111c6acb0ce8?hl=en&

Canyon Note:  selling stock for a profit reduces my asset level eh?




"When you're (sic) margin is called, that's a liability, not an asset.
If you have an account with $100,000 in it, and you borrow $10,000 to 
buy with, you only have $100,000 in assets; until you pay the loan, 
that $10,000 is not an asset; it's a liability. When the margin is 
called (for ****s and giggles, let's say for the full amount of 
$10,000), there is no way to say that you haven't lost $10,000. In 
fact, you're actually out $20,000, because you're out the $10,000 
for the loan and the $10,000 to call the margin."
-- Milt Shook Apr 2007
http://groups.google.com/group/alt.impeach.bush/msg/a39f580c3012e718?hl=en&

Canyon Note:  Milt hasn't yet explained how a $10,000 margin call will
result in a $20,000 loss, presumably above and beyond whatever loss 
of market value in stock precipitated the margin call....

Actually, a margin call in itself doesn't constitute any loss at all..
it's simply a demand from a lender to increase your collateral. 




"And one of the ironies of this entire discussion is that a company
that pays cor****ate income taxes one year can deduct them as a
business expense the next.
--Milt Shook, who claims to have been a business consultant.
http://groups.google.com/group/alt.society.liberalism/msg/b0151278e691117b.