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Thread: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

  1. #261
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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by washunut View Post
    [/I]

    If I read the article correctly I think it said 57% came from Mexico and then 27% from other nations in Latin America.
    YOu read it wrong. 57% and 27% of the border crossers came from Mex and LA
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by Eighty Deuce View Post
    The bubble started in 1997. When HUD sued banks for not making enough bad loans ..... as though bad loans were somehow a good idea. The announced settlement was that the banks would start making tens of billions in bad loans, this bringing buyers into the market that never would have been there. Andrew Cuomo, then HUD Secretary, hailed this as a huge win. What he didn't tell everyone was that the flip side of the deal was that Fannie and Freddie would buy/underwrite every one of these high risk loans. So the bubble was born, with all the newfound buyers and can't- lose profits for bad loans, courtesy gubmit. By 1999 housing inflation was running well ahead of the rest of the normal rate. And it became a feeding frenzy.

    Unfortunately, what Bush did was react to a market that had actually begun to nudge Fannie and Freddie out. The bubble was growing so quickly that traditional lenders lowered all standards, as even if the buyer defaulted, the house could still be foreclosed and sold for profit. Anyone could buy a house no money down, except for those now going through such as the FHA, as it was stuck on the old standard, and losing market share. I don't credit Bush one bit, but that was the market reality at the time, a market pumped full of free money by government.

    I am reminded of a great line by Reagan: "Its not that our liberal friends are ignorant. They just know so much that isn't so".
    YOu just made that up

    "Maybe you should learn what you are talking about before you go around calling people ignorant". - whysoserious
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

  3. #263
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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Roseann is possibly the dumbest liberal actor of them all, and that says something.
    "It is a sad day in society when people adjust the facts to fit their beliefs, rather than adjust their beliefs to fit the facts."
    Libertarian/Conservative/Christian Beliefs

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by whysoserious View Post
    I really do not think you should be criticizing anyone for a lack of knowledge. You have already shown a complete misunderstanding of what a derivative is or how the market works. You said:

    "Everyone tried to make money off it, including a lot of folks who bought, but then did not sell soon enough. They could have rented instead."

    I really do not think you understand how fundamentally wrong the entire grouping of sentences are. It literally makes no sense. So here is a great line by whysoserious:

    "Maybe you should learn what you are talking about before you go around calling people ignorant".

    *Edit to add:

    Also, way to explain everything everyone already knew. I think we all know what the bubble was and the factors that contributed to it (except you who seems to think it was entirely liberals).
    LOL .. Y'all fault derivatives because I guess that makes it easier for you to blame WallStreet. Fact is that many folks have recovered all of their portfolio since 2008, or if they haven't, they are within 20%. What folks have not recovered from is being 30-50% underwater on a home loan for which they owe. If you think that our recession is due to derivatives, you are smoking crack.

    Once we found out that we couldn't keep making money by selling property back and forth to each other, we woke up to the fact that we can't run an economy with everyone delivering pizza. Which was about all we still did after being asleep at the wheel for so long.

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by VanceMack View Post
    Yes...yes, I believe you are.

    You are too...


  6. #266
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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by Eighty Deuce View Post
    LOL .. Y'all fault derivatives because I guess that makes it easier for you to blame WallStreet. Fact is that many folks have recovered all of their portfolio since 2008, or if they haven't, they are within 20%. What folks have not recovered from is being 30-50% underwater on a home loan for which they owe. If you think that our recession is due to derivatives, you are smoking crack.

    Once we found out that we couldn't keep making money by selling property back and forth to each other, we woke up to the fact that we can't run an economy with everyone delivering pizza. Which was about all we still did after being asleep at the wheel for so long.
    Really? Wachovia recovered their portfolio? Again, now you are mixing up retirement and personal investment accounts with shady packaged security deals and underhanded derivatives trading. Not the same. Do not forget, many of the banks failed because they had too much stock in these bad securities (the type that Goldman Sachs sold and then bet short on). Because these banks failed, businesses could not get loans. Because businesses could not get loans, they had to fire people. Because businesses had to fire people, less people were in the market. Because less people were in the market, business made even less income causing them to fire even more people.

    If you can't see the connection between shady derivatives trading and predatory lending with the state of our economy... you either aren't looking hard enough or you do not know what to look for.

    *Edit:

    Not to mention, your view on the real estate market is way off. It is not even close to recovered and anyone who is a must sell situation is getting hammered.
    Last edited by whysoserious; 10-04-11 at 06:45 PM.

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by Eighty Deuce View Post
    LOL .. Y'all fault derivatives because I guess that makes it easier for you to blame WallStreet. Fact is that many folks have recovered all of their portfolio since 2008, or if they haven't, they are within 20%. What folks have not recovered from is being 30-50% underwater on a home loan for which they owe. If you think that our recession is due to derivatives, you are smoking crack.

    Once we found out that we couldn't keep making money by selling property back and forth to each other, we woke up to the fact that we can't run an economy with everyone delivering pizza. Which was about all we still did after being asleep at the wheel for so long.
    They only lost 20%?

    Thats AWESOME!!!!
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by Khayembii Communique View Post
    Except for a trillion dollar border fence, though, right?
    Link?......

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by Eighty Deuce View Post
    The bubble started in 1997. When HUD sued banks for not making enough bad loans .....
    The bubble started after the 90's tech bubble busted and Wall Street had to find a way to create another bubble to keep the money rolling.

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by whysoserious View Post
    Really? Wachovia recovered their portfolio? Again, now you are mixing up retirement and personal investment accounts with shady packaged security deals and underhanded derivatives trading. Not the same. Do not forget, many of the banks failed because they had too much stock in these bad securities (the type that Goldman Sachs sold and then bet short on). Because these banks failed, businesses could not get loans. Because businesses could not get loans, they had to fire people. Because businesses had to fire people, less people were in the market. Because less people were in the market, business made even less income causing them to fire even more people.

    If you can't see the connection between shady derivatives trading and predatory lending with the state of our economy... you either aren't looking hard enough or you do not know what to look for.

    *Edit:

    Not to mention, your view on the real estate market is way off. It is not even close to recovered and anyone who is a must sell situation is getting hammered.
    This is nonsense. To claim that bank fails are why there are no loans is rubbish. There is plenty of money there to loan. Go check. Do some reading. FYI, as TARP was the bank bailouts, how much of that has NOT been paid back ? I believe that 95% of it is now paid back.

    Banks are not making loans because the economy sucks. The money is there though. Lots of it.
    Last edited by Eighty Deuce; 10-04-11 at 09:47 PM.

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