I'MMA LET YOU FINISH
Even as Chimpy was doing those shocking visits to the Social Security Trust Fund filing cabinet in west virginia.
Isn't this what the reverse mortgages were all about?
God damn these threadbursts! Repeat:
It's a shame that NYC is outside the stomping grounds of crack investigative reporter David "Dean" Broder.
In his relentless and incisive reporting on the Clinton family, he's continually asserted that investigating and reporting on the sex lives and domestic affairs [cough] of politicians is a top priority, vital because it reveals the true nature of the politician. Which is, after all, what The People really want and need to know and comprehend.
Broder might have to walk into a bank and fire a gunshot into the ceiling so his Chief will take his badge and suspend him from the infotainwhore force. Then he will be free to slip away to NYC and produce some truly seminal reporting on the burgeoning Giuliani scandal, which will result in his returning to the Beltway as a hero.
I see "Pulitzer" in the Dean's future. And being played by Gene Hackman in the subsequent film-- Hackman is good in everything, and who better to play a hackman?
i still only have a tube tv, my car has 90k miles on it...uh-mericans are brainwashed materialists
What really drives the race-IQ debate.
Apparently Turkey is attacking the TKK rebels in Northern Iraq.
meh. i cant justify $60 just to play on the internet while waiting for/ on the train.
I had no idea that there was such a push to get older people to pull all their equity out of their homes.
It's not like they need a place to live, or anything!
This is a consumer driven economy! Old people only consume Geritol and prescription drugs! Gotta get that equity into circulation!
Old people! The stock market needs your equity!
Re-finance now! If you don't have a mortgage, get one! Take two, they're small!
Thanks God Carter deregulated S&L's. Otherwise, money would be locked up in community housing and small business instead of being free to float to largest returns and improve the efficiency of the entire system.
Well, whoever dies with the most debt wins, right?
looks like tommy's parents met a predatory lender. Someone should have told them about a reverse mortgage.
Fools. Bureaucratic fools!
“If you own your own home free and clear, people will often refer to you as a fool. All that money sitting there, doing nothing.”
Those would be the people who want to get their hands on that sitting money.
Thanks God Carter deregulated S&L's. Otherwise, money would be locked up in community housing and small business instead of being free to float to largest returns and improve the efficiency of the entire system.
rootless-e
Jimmy Stewart and Frank Capra are quaint.
9/11 changed everything!
Refinance before it's too late!!!!! The economy needs your equity! HOW CAN YOU BE SO SELFISH! THINK OF THE GRANDCHILDREN!!! THEY NEED iPODS!
“If you paid your mortgage off, it means you probably did not manage your funds efficiently over the years,”
Ass-backwards thinking.
THERE'S some ass-backwards thinking.
America: The NEW Bizarro World
I am waiting for when Donald Trump has to sell his hair pieces, and Alan Greenspan is running an escort service offering Andrea Mitchell and Katie O'Beirne as a twosome.
Greed is good.
Especially when I can get my hands on your money.
Isn't this what the reverse mortgages were all about?
Apu
it appears not. a reverse mortgage is a way for seniors to get a monthly income from their equity, but it is not a refinance and the loan does not need to be paid back as long as the mortgagee lives in the home.
Alan Greenspan is running an escort service offering Andrea Mitchell and Katie O'Beirne as a twosome.
spinoza, non ridere, non luger
That's a disgusting thought.
I'm not too sharp about these things, but until the current crash I'd never noticed how connected the banking reforms are to the Republican machine - the financial industry not only provided a lot of direct and indirect money to the Thugs, but it also facilitated corporate, and especially, media consolidation and the growth of Thug exurbs.
All these operators around the Thug corporate/government nexus required a centralized and deregulated financial market to prosper.
If you own your own home free and clear, people will often refer to you as a fool. All that money sitting there, doing nothing.
even if you had no kids, you could DONATE your equity to a charitable cause when you croak...does anyone remember altruism?
Fox Business News: If I'm lying to you about the economy, may God strike me dead!
does anyone remember altruism?
mogwai, cloud 9 dweller
say what now?
All these operators around the Thug corporate/government nexus required a centralized and deregulated financial market to prosper.
rootless-e
Texas: S&L looting and eventual collapse in the 80's. Saw it all first hand.
Experience is on helluva teacher.
a reverse mortgage is a bit different. it basically takes away jr's inheritance, but it isn't risky.
does anyone remember altruism?
mogwai, cloud 9 dweller
say what now?
smarty jones
you funny
Alan Greenspan is running an escort service offering Andrea Mitchell and Katie O'Beirne as a twosome.
spinoza, non ridere, non luger
Since that rumour hasn't been denied, it must be true. Or if it is denied, it will only feed the rumours, which will then have to reported on some more.
hey why not pull the tires and rims off your car and set them out by the road
they'd be down the toilet only as fast as that jumbo loan you took out on your house that people convinced you was safe to do, and dumb not to. Do what a friend of mine did. Get an equity loan ... buy a group of coke and alot of pizzas and beer every night for a long assed time. He didn't have to cook and he doesn't have to worry about his house or wife or kids anymore ... they're all gone! problem solved
There's an economic justification for this; the proceeds from accessing equity go around, multiply and raise the money supply at a time of tightening credit.
Of course, there are people for whom this won't be optimal. Like, say, those who outlive their actuarial expectations, those who want to pass property to their children free of encumbrance, those who develop other expenses in the future for which funding from home equity loans won't be available. But it sure reassures me that it'll be better for most of us.
I can feel it trickling down as we speak. Good thing I have clean underwear to change into...
"Alan Greenspan is running an escort service offering Andrea Mitchell and Katie O'Beirne as a twosome."
Mainly because there's just not that big a market to skullfuck the corpse of Ayn Rand.
The market IS THERE, mind you! Just not enough profit to be made from it.
I think it must be Bush Pioneer founder Francis as the advisor to Florida's SBA.
Speaking of matters financial, I really do like the way Rudy gave AMEX a $400K advance payment on expenses, most of which AMEX refunded as unspent at the end of his administration. Nothing like the New York City taxpayers making a big, interest free upfront loan to a major credit card company. Someone should tell Rudy it is supposed to work the other way around: you can actually get up to a month's free interest on a credit card purchase if you pay the next month bill on time.
Interestingly, watching "A Beautiful Mind" last night, which admittedly isn't the best example of the guy's thought, but still...
the thrust of his insight was the group benefits when the individuals look out for themselves AND the group. Supposedly revolutionized economic (and other kinds) of thinking. Clearly it is an idea that has yet to "trickle down...." We're still caught up in the "Blow you, Jack! I got mine, and I want some of yours!"
Hence: Big Shitpile. When will they ever learn?
Thanks God Carter deregulated S&L's. Otherwise, money would be locked up in community housing and small business instead of being free to float to largest returns and improve the efficiency of the entire system.
rootless-e
Ronnie Raygun had a huge hand in this cookie jar, let's not deny him credit.
~
I can feel it trickling down as we speak. Good thing I have clean underwear to change into...
I'm wearing two wetsuits, just to be safe.
I can feel it trickling down as we speak. Good thing I have clean underwear to change into...
ProfWombat
Reminds me of the Texas Democrats during the S&L debacle (not all of them as liberal as Jim Hightower, either) pointing out that "Trickle down," which resurfaced under Reagan, was what came out of the horse after the horse got the hay.
The rest of us get what "trickles down..."
When will they ever learn?
RMJ: there's nothing, nothing at all, that seems easier than failing to learn from experience these days. Economics, VIetnam, you name it; it's always rerun season amongst the Bushists. The ghost of Herman Kahn skulks the Pentagon as we speak...
Ronnie Raygun had a huge hand in this cookie jar, let's not deny him credit.
~
ifthethunderdontgetya™³²®© | Homepage | 12.01.07 - 12:43 pm | #
If you decide to discontinue the alarm service, then you need to bear some responsibility when the Republicans empty the till. No?
Thanks God Carter deregulated S&L's. Otherwise, money would be locked up in community housing and small business instead of being free to float to largest returns and improve the efficiency of the entire system.
rootless-e
Carter didn't deregulate the S&L's. It pretty much all occured after Reagan took office.
Regarding Friday's staged hostage situation, would you think that CNN did the job for free or received compensation? And how big of a check would you guess the hostage taker/ actor will receive for his services, once released from the loony bin?
I think it was an extremely creative drama, being that it was an extemporaneously scripted diversion from Debate Gate.
a reverse mortgage is a bit different. it basically takes away jr's inheritance, but it isn't risky.
Atrios
right. a reverse mortgage can be very helpful for seniors having trouble with the bills, and jr. should understand its better that moms and pops have heat and can pay the bills rather than an inheritance.
RMJ: there's nothing, nothing at all, that seems easier than failing to learn from experience these days. Economics, VIetnam, you name it; it's always rerun season amongst the Bushists. The ghost of Herman Kahn skulks the Pentagon as we speak...
ProfWombat
Even the Pentagon is a symbol of a lesson not learned. FDR figured it would be useless after the war, and built it extra stout so it could serve as an archive.
Eisenhower warned us again, but will all that defense $$$ to be made, who could listen?
"Regarding Friday's staged hostage situation, would you think that CNN did the job for free..."
Fuck off and die, jack.
Eisenhower warned us again, but will all that defense $$$ to be made, who could listen?
Who needs butter when you can have gunsgunsguns?!
As a friend of mine once said, the whole trickle down economy thing has been a veritable golden shower for me...
trickle down is just a euphemism for another euphemism, which is: Shit flows downhill.
built it extra stout
mmmm, extra stout.
Who needs butter when you can have gunsgunsguns?!
NTodd, Econazi
The one with the guns gets to take the butter.
Which is how we got into Iraq and Afghanistan....
Reagan became Prez Jan 1981
March, 1980--Depository Institutions Deregulation and Monetary Control Act (DIDMCA) enacted. The law is a Carter Administration initiative aimed at eliminating many of the distinctions among different types of depository institutions and ultimately removing interest rate ceiling on deposit accounts. Authority for federal S&Ls to make ADC (acquisition, development, construction) loans is expanded. Deposit insurance limit raised to $100,000 from $40,000. This last provision is added without debate.
November, 1980--Federal Home Loan Bank Board reduces net worth requirement for insured S&Ls from 5 to 4 percent of total deposits. Bank Board also removes limits on the amounts of brokered deposits an S&L can hold.
Jimmy Carter and Bill Clinton are so evil they went back in time to convince an artistically challenged Adolph Hitler that he was better off getting into politics.
steve: what'd you see yesterday? Like anything?
Even the Pentagon is a symbol of a lesson not learned. FDR figured it would be useless after the war, and built it extra stout so it could serve as an archive.
Construction started on 9/11.
Addiction to mortgage payments is the weirdest addiction of all..
Hey, all ...
.
The Reagan Deregulation Program
~
Even the Pentagon is a symbol of a lesson not learned. FDR figured it would be useless after the war, and built it extra stout so it could serve as an archive.
Why does an archive have to be stout? Is it like a teapot?
All that money sitting there, doing nothing.
1. Sitting there doing nothing is what one wants in one's house.
2. "Nothing" is this lender's unvarnished view of homestead appreciation as strategy.
-
I think it was an extremely creative drama, being that it was an extemporaneously scripted diversion from Debate Gate.
sonny ablaza | 12.01.07 - 12:45 pm | #
As Atrios mentioned earlier, I don't know why the Republicans are upset at having to answer a question from a Democrat.
After all, the Democrats had to take questions from Tim Russert.
You're an idiot, btw....
The one with the guns gets to take the butter.
Butter is out of season right now. We're on to hunting snipe.
Jimmy Carter and Bill Clinton are so evil they went back in time to convince an artistically challenged Adolph Hitler that he was better off getting into politics.
smarty jones
Yeah, but Prescott Bush gave Adolf the money to start him on his way.
Designed by architect George Bergstrom (1876 - 1955) and built by Philadelphia, Pennsylvania general contractor John McShain, the building was dedicated on January 15, 1943 after ground was broken for construction on September 11, 1941.
And you thought I was lying.
March, 1980--Depository Institutions Deregulation and Monetary Control Act (DIDMCA) enacted. The law is a Carter Administration initiative aimed at eliminating many of the distinctions among different types of depository institutions and ultimately removing interest rate ceiling on deposit accounts. Authority for federal S&Ls to make ADC (acquisition, development, construction) loans is expanded. Deposit insurance limit raised to $100,000 from $40,000. This last provision is added without debate.
November, 1980--Federal Home Loan Bank Board reduces net worth requirement for insured S&Ls from 5 to 4 percent of total deposits. Bank Board also removes limits on the amounts of brokered deposits an S&L can hold.
rootless-e
That's not what caused the S&Ls to collapse though. One of the factors was the the $100K in insured deposits was never meant to cover people who had $100K in each of several different S&Ls. Not to mention the raft of further bills easing regulations of S&Ls, none of which occured under Carter. The Carter legislation isn't what caused the problem.
Ground broken for the Pentagon on 9/11?
This would be shamelessly manipulative in a novel...
I've never quite understood the idea of equity in a home, which is why I always favored the old Texas Constitution Homestead Provision (broken when W. was Guv): no liens against a home except for purchase price or repairs.
If you lose your home because you gambled the equity, you've lost more than you can recover. Property is an investment, but not a home, IMHO. Which, of course, means property taxes are highly problematic, as they rest on rising property values (that's a separate issue for me, especially in a state with no income tax). In this I recognize I am a throwback, but the idea of a home being an investment, rather than a necessity (like a car, clothing, a stove, etc.) has never struck a chord with me.
"Home," of course, being narrowly defined as "homestead," of which you can only have one.
I think it was an extremely creative drama, being that it was an extemporaneously scripted diversion from Debate Gate.
sonny ablaza
Do you know the MEANING of all those BIG words you're using, fucktard?
Or did you copy it from some winger website?
Again, It was a perfectly valid question only a little baby of a man would have been afraid to answer.
Butter is out of season right now. We're on to hunting snipe.
NTodd, Econazi
I'll get the peanut butter, you bring the burlap bags.
Ground broken for the Pentagon on 9/11?
This would be shamelessly manipulative in a novel...
As would having the mayor of NYC romancing his mistress in a WTC suite.
Why does an archive have to be stout? Is it like a teapot?
spinoza, non ridere, non luger
Extra thick floors and supports, to hold the weight of paper records (this is the 1940's, remember).
It's why the Pentagon wasn't more severely damaged on 9/11.
If you decide to discontinue the alarm service, then you need to bear some responsibility when the Republicans empty the till. No?
Nope. That's specious reasoning.
If I sell a guy my house and that guy turns it into a crack house, I am not responsible.
reminds me of what i heard a bankameric exec say '..i don't care, i just want to get a hold of their money...'
For some people, the mortgage jones is so bad they will willingly pay a bank $10 so they don't have to pay 3 to the government.
Whoa, it's warmed up to 36 and not stormy yet!
Think I'm gonna run a wee errand in a bit.
The one with the guns gets to take the butter.
Which is how we got into Iraq and Afghanistan....
Rmj, Friend-O
Alright cows, stick 'em up! Your butter or your, um...
Maybe I'll stick to gainful employment.
My recollection is that Reagan, and especially a particularly corrupt congressman, Fernand St Germain, did the majority of the damage in bank deregulation. 'Secrets of the Temple' by William (momory blocking last name--economics correspondent for the Nation), a brilliant take on the Federal Reserve, dealt well with this...
William Greider, 'Secrets of the Temple'. A book that tells you what you need to know about economics in the latter twentieth century. Highly recommended...
Prof Wombat, I noticed how your comment on the homeostasis of the body's acid balance drew the ire of some, um; interesting sorts yesterday. Good show!
I'll get the peanut butter, you bring the burlap bags.
Mmm...peanut butter. Is it okay if I eat all the bait?
Albuquerquians who like movies and sex will be interested to know that the city has tried to prevent The Guild repertory theatre from exhibiting its Pornotopia film festival.
http://www.selfservetoys.com/Por.../
Pornotopia.htm
Most disturbingly, it appears that the local journalists were responsible for creating the controversy by alerting the City and Zoning Board to the "event."
Assholes.
this is another reason why the attack on social security--people will lose their homes and not be able to pass this on to their kids.
and yes, this is what the 'reverse mortgage was about'--exactly.
all a very pointed and orchestrated scheme--all precisely directed, coordinated and superbly ignited by the high cost of pharm/medicare-d/drug situation.
The GOP is having a hard time finding people to run for office.
Is it any wonder they're having to turn to Democrats to ask questions at these silly "debates"?
rental owls
My mind is a pornotopia sometimes.
Prof Wombat-
Good book. Was he the one who wrote under the pseudonym 'Adam Smith' for years?
That's not what caused the S&Ls to collapse though. One of the factors was the the $100K in insured deposits was never meant to cover people who had $100K in each of several different S&Ls. Not to mention the raft of further bills easing regulations of S&Ls, none of which occured under Carter. The Carter legislation isn't what caused the problem.
Jennifer | 12.01.07 - 12:52 pm | #
Ted Kennedy ran an insurgent campaign against Carter in 1980 specifically on the issue of abandonment of the New Deal and embrace of what we now call DLC economics.
Certainly, the wholesale looting of the system was due to Reagan, but Carter was a strong advocate of deregulation - not just for bankers.
Prof Wombat, I noticed how your comment on the homeostasis of the body's acid balance drew the ire of some, um; interesting sorts yesterday. Good show!
Yep. I posted a reply concerning some curious attempts of the body to regulate in terms of addictions and such. Sometimes homeostasis can not be your friend. But then the cable crapped out for an hour.
Again, It was a perfectly valid question only a little baby of a man would have been afraid to answer.
plantsman, bulbalicious
I was scheduled to appear on a debate panel for congressional candidates about 10 years ago. The night before the debate, the whiny Republican calls a whiny press conference and says, "this person can't serve on the panel because she's know to be liberal and a supporter of the Democrat." So on the way into the hall the next day, when a reporter for the statewide daily paper asks me about what he said, I look at the reporter with incredulity and say, "certainly this person, who claims he wants to represent all of us in this district, can't be suggesting that any of those he represents should be prohibited from asking him questions? Why is he running if he's not interested in representing the people of the district, which he cannot do if he's not even willing to take questions from some of them? And as for my previous support for his opponent, since the incumbent carried 65 - 70% of the vote in the last election, I can't imagine how Mr. GOP imagines he can be elected if he plans on not trying to win any of us over."
The paper is very rightwing so of course none of those comments ever made it into print, but they decided not to ask again...and they must have tipped off the GOP guy because he didn't bring it up again. And he still got his ass kicked in the general election.
owls!!!
spinoza: 'Adam Smith' was, I think, a man named George W. Goodman, though I could be wrong. Not Greider, though, for sure. Greider's book is by far the best take on Volcker's management of the Federal Reserve...
trying to create a 'consumption continuum' for every american to be subjected to. no peace.
ghouliani has zero chance of winning repuckers prez nod - romnEye's a dog hating mormonite and huckabee preteneding jeebus would be FOR the death penalty because he doesn't complain on the cross (said just before killing 3 - they're happy go lucky murderers aren't they?), will leave us with mckane and not so abel ferdinando thompsono and the weird ronpaulwhacky who is headed for an independent run and oblivion...
does anyone remember altruism?
That's pre-9/11 thinking.
god damn carnies disguised as "financial experts"
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