Whom should you hate today?

[catnhatnh]

Because if you follow the news you are being hosed by Black/minority/white trash people buying houses they "don't deserve". Of course it's all about Fanny Mae and Freddy Mac going wild. That's what caused the problem-uppity minorities trying to buy a first home and never about stuff that's hard to understand.

They will tell you that the upside is to "win" by staying in a house that was bought at a value established by people who take 6% and swear that they are helping. Those agents will never mention that their lifestyle is supported by turnover or that when you win (a house) they win or that when you lose (a house) they win as well.

I've met a shitload of homeowners-I am one myself. And what I find is this-I can insure my house for 100k (about it's value) but I cannot insure it for $10,000,000-just because they suspect at that number I might torch my place for profit.

Y'all ever sign a 30 year note on a whim??? Neither did they.

Yet if we look at credit default swaps we find something new-if you are "large" enough a 100 to 1 ratio is more than enough.

The best estimates are that in spite of HUGE unemployment, less than 10% of mortgages are heading south and almost none of them are a total loss.

Ain't Trillions missing in housing. It's missing in theft. But there's no MSM saying so.

Not even Keith.

[sandnsea]

1. Hello.

You got that right.

The money that caused these big banks to collapse is gone gone gone. Everybody could start paying their mortgages tomorrow and it wouldn't help the big banks one bit.

[lisa58]

2. don't hate - it accomplishes nothing - let's just fix it.

[Waiting For Everyman]

3. Isn't it interesting

how what would be an obvious crime if an individual did it, is made to seem just fine and magically turns into "high finance" and "financial innovation" when a bank or corporation does it?

Same exact behavior. Yet somehow, we can't see it.

As part of the stimulus we should hire gazillions of lawyers and turn them loose on prosecuting all of this stuff for as long as it takes. By not prosecuting these crimes, people remain unclear on who the criminals are...

That facilitates the media and all involved continuing to shift blame to the victim(s), to cover it up.

[elocs]

4. I don't hate because it is pointless. It only hurts me and not the object of my hate.

Although for mostly self professed Liberals here I do read of a lot of hate. Except the hate here is always righteous so it must be ok.

[liberalmuse]

5. I'm pretty much hating Alan Keyes right now.

And the people whining about those who will be getting help to stay in their houses. "What about MEEEEEEEE????" :eyes:

[gristy]

6. Whom?

[MattBaggins]

7. Even Keith knows that GE Financial group

wouldn't like him mentioning credit default swaps.

[angrycarpenter]

8. Maybe I am wrong but

Would a government bailout of mortgages destroy credit default swaps as an investment instrument? As I understand it C.D.S. were to hedge against mortgage defaults but if a government program were to halt foreclosures it would negate the need to insure those mortgages against default and cause everyone to pull their money out of them all together. Maybe I am wrong but maybe this is why wall street HATES the idea of a mortgage bailout.

[babylonsister]

9. Links would be nice. Thanks. nt

[readmoreoften]

11. What are you looking for "links" over? If you know what a credit default swap is, you don't need a

link.

[babylonsister]

12. This.

The best estimates are that in spite of HUGE unemployment, less than 10% of mortgages are heading south and almost none of them are a total loss.

Ain't Trillions missing in housing. It's missing in theft. But there's no MSM saying so.

Not even Keith.

A link would be nice, and you could be nicer. Or not.

[ConcernedCanuk]

13. LOL - "A link would be nice, and you could be nicer. Or not"

.
.
.


:thumbsup:

[readmoreoften]

10. Thank you. I'm getting really sick of seeing people duped into hating their neighbors--again.

None of this has anything to do with default swaps or hedge funds and so forth. No. It's the "irresponsible" taxpayer.

[whirlygigspin]

14. ah yes, the riff raff

Those damn Hillbillies just don't know how to handle money...some things never change...up yours Mr. Drysdale.

[GeorgeGist]

15. Capitalism ...

is anti-social. How else could one justify manufacturing profit out of someone else's pocket.