<Video61@[EMAIL PROTECTED]
> wrote in message
news:b1e73965-8d21-433b-834e-0200494f94b4@[EMAIL PROTECTED]
> On Apr 21, 4:29 pm, "Jeff Strickland" <cr...@[EMAIL PROTECTED]
> wrote:
>> <Vide...@[EMAIL PROTECTED]
> wrote in message
>>
>>
news:cb839cbb-d680-43ab-b1af-d4d7de13a37a@[EMAIL PROTECTED]
>>
>>
>>
>> > On Apr 21, 3:40 pm, "Jeff Strickland" <cr...@[EMAIL PROTECTED]
> wrote:
>> >> <Vide...@[EMAIL PROTECTED]
> wrote in message
>>
>>
>>news:41b5c328-4adc-4bf5-b6da-0468412be9e7@[EMAIL PROTECTED]
>>
>> >> > On Apr 21, 12:10 pm, "Jeff Strickland" <cr...@[EMAIL PROTECTED]
> wrote:
>> >> >> <Vide...@[EMAIL PROTECTED]
> wrote in message
>>
>> >>
>>news:fcb211de-6a87-4dc7-97c4-279884568208@[EMAIL PROTECTED]
>>
>> >> >> > On Apr 21, 11:35 am, alexy <nos...@[EMAIL PROTECTED]
> wrote:
>> >> >> >> Vide...@[EMAIL PROTECTED]
wrote:
>>
>> >> >> >> > coming to america soon,
>> >> >> >> > 28 days, then 90 days, than 6 months, than a year, then
maybe
>> >> >> >> >lifetime? i betcha its coming. meanwhile we must not pamper
the
>> >> >> >> >little
>> >> >> >> >guys, after all, they must be self responsible.
>> >> >> >> > i wonder how many more 4 pound lobsters, french champagne,
and
>> >> >> >> >bonuses will be consumed after this little give away to the
>> >> >> >> >free
>> >> >> >> >market.
>>
>> >> >> >> Do you read the articles you post?
>> >> >> >> Do you know the meaning of debt forgiveness?
>> >> >> >> Where did you think you saw anything in this article about
debt
>> >> >> >> forgiveness?
>>
>> >> >> > the above statement is coming from a guy who could not see what
>> >> >> > was
>> >> >> > coming last august. sorry alex, you are in no position to even
>> >> >> > understand what is going on right now. remember, to understand,
>> >> >> > you
>> >> >> > must be able to connect the dots, and understand that there are
>> >> >> > other
>> >> >> > shoes about to drop. OBTW, the other shoes have been dropping
>> >> >> > almost
>> >> >> > daily now since you last slunk away.
>>
>> >> >> I'd be interested in seeing where Debt Forgiveness is being
>> >> >> outlined
>> >> >> in
>> >> >> the
>> >> >> article you posted.
>>
>> >> > the above statement is coming from a guy who could not see what
was
>> >> > coming last august. sorry jeff, you are in no position to even
>> >> > understand what is going on right now. remember, to understand,
you
>> >> > must be able to connect the dots, and understand that there are
>> >> > other
>> >> > shoes about to drop.
>> >> > you will never change, this quote is for you,
>> >> > "our state and nation have experienced major declines resulting
from
>> >> > contem****ary conservative leaders and their simplistic ideas.
their
>> >> > dour polices regularly fail to connect the dots, let alone
>> >> > comprehend
>> >> > the space between them.
>> >> > richard a. swanson"
>> >> > OBTW, i never said debt forgiveness, i said the beginnings of debt
>> >> > forgiveness. but you cannot connect the dots. nor comprehend the
>> >> > space
>> >> > in between them.
>>
>> >> The Subject line specifically cites debt forgiveness. Please tell us
>> >> where
>> >> the debt forgiveness is in the article.
>>
>> >> You are the one lacking understanding, my friend.
>>
>> > i said, the beginnings. if you had any capabilities at all, you would
>> > understand that if these assets are all but worthless(seeing how they
>> > cannot sell them, or borrow against them)now, what do you think they
>> > will be worth in a year, and how will the fat cat banks that have to
>> > take them back in a year deal with that, more bailouts, err loans,
err
>> > debt forgiveness. if they can keep on borrowing, or keep on debt
>> > swapping, that is a forgiveness. they are insolvent, face it. get
over
>> > it.
>>
>> Where is the beginning of debt forgiveness?
>>
>> Whos debt is on the verge of being forgiven?
>>
>> You do not understand the first rule of mortgage lending, it states
that
>> the
>> bank wants the money, it does not want the house. The problem today is
>> that
>> the bank is holding the house that they do not want. They have to get
rid
>> of
>> the house, but can't because they wrote more paper on the house
yesterday
>> than they can get for the house tomorrow. The reason this happened is
>> because they wrote crappy paper when things were good, did not set
aside
>> reserves for when things went bad, and the idiots they gave money to to
>> get
>> the house have no equity so they walk away, leaving the bank with a
house
>> it
>> does not want.
>>
>> While the bank made bad loans roughly 3% of the time, it also made good
>> loans 97% of the time. The bank will come out of this okay, but it must
>> take
>> losses against income for a couple of years until it can jetison the
>> properties (bad paper) in its ****tfolio. Sure, Citibank or Countrywide
>> has
>> huge losses this year, but they had huge incomes the year before and
the
>> year before that, and in coming years they will have huge gains again.
>>
>> What is going to happen here at the end of all of this is that people
>> with
>> bad credit will not be given the chance to buy into the American Dream
--
>> home owner****p -- without a more substantial equity position going in,
>> and
>> investor-owners (people like me that own rental properties) will also
>> have
>> to come in with a greater equity position to protect the bank from
>> getting
>> the house back. Remember, the bank wants the money, not the house.
>
> here is a guy who cannot even understand what happened in the first
> place. and repeatedly told me and others there were no problems, there
> are no dots to connect, there are no other shoes to drop.
I never said there were no problems, I said there should be no bail outs.
The lenders and borrowers with ****y credit created this. The lenders
made
huge gains for many years, they should cover their own losses. Borrowers
simply made bad choices by buying houses they had no business buying. If
they can't pay for them, too bad.
Nobody in this mess should be bailed out. If Morgan Stanley wants to come
in
and buy Bear Sterns for pennies on the dollar, then it sucks to be Bear
Sterns or its shareholders. But they all made mountains of money before
the
market fell apart.
I'm still making my mortgage payment(s) on houses that have lost value,
and
I don't see anybody beating a path to my door bailing me out. Why bail out
the idiot down the street that never should have gotten a loan in the
first
place?
I know exactly what happened, and by my estimates I can almost tell you
the
day that the problem started. You, on the other hand seem to lack any
grasp
of the problem or the implications, and have no clue what has even
happened.
Remember, the bank wants the money not the house. The problem is, it is
left
holding the house it does not want and because of its own actions, has an
entire ****tfolio of houses it does not want and can't get rid of.
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