I'm envisioning that scene in Total Recall in the bar with the midget/mutant girl.

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There are more things in heaven and earth, Horatio,
Than are dreamt of in your philosophy.

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Originally posted by Krypton LOL, the consumers!? Who are the experts???? There's something called a credit report, and not many people look at it. Institutions have access to that and more. It's as easy as saying, "No, you're credit is too low for the terms of the loan." I should know, I hear it EVERYDAY. Perhaps that why my institution that I work for didn't have ANY subprime related writeoffs. The only difficulty we have is the consumer has oil, dollar, and credit pressure cutting into their spending. That, and basically the rest of the economy is being dragged through the mud...

yeah, fair points. i just dont have a lot of sympathy for the borrowers that are crying foul. dont take out loans you cant afford to service. assclowns.

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Originally posted by starboy poor baby, welcome to life

lol. i just find it funny im fighting over table scraps

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Originally posted by pkcRAISTLIN yeah, fair points. i just dont have a lot of sympathy for the borrowers that are crying foul. dont take out loans you cant afford to service. assclowns.

True, but in today's world, if people are offered a loan, many (millions) will take it even if its unaffordable. If it's available, they'll take it. I honestly think though that the Federal Reserve is ultimately responsible by making money too cheap with the 1% Federal Funds Rate in 2003 or 2004. Now its 4.75%, down from 5.25%. With all the cheap low interest money, banks were much more willing to make risky bets, and they did by they BILLIONS. Just look at the news. All the big banks are making multi-billion dollar quarterly writeoffs. That's a SHITLOAD of money to lose in 3 months!! Easier money from the banks gave the mortgage lenders a ticket to make loans to anyone who asked. SO much money was floating around, they took the risk.

THat's how I view the chain from the top-down...

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how did i know the federal reserve would be at the root of it all (according to you)?

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Fools. It isn't the federal reserve.

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Originally posted by jennypie Fools. It isn't the federal reserve.

this is your last chance jenny. free us, or die.

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Originally posted by pkcRAISTLIN how did i know the federal reserve would be at the root of it all (according to you)?

LOL, SOMEHOW, EVERYTHING is their fault!!:

No, but really, they screwed us with that 1% rate..

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Sales always is cut-throat. Sell with a positive mental attitude, and don't let that sh!t get to ya.

Pretend the sales world is like you are on TA... fcuk everyone and you're better than us.

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Short time TA, Long time Guver, Good time giver.

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Originally posted by Krypton LOL, SOMEHOW, EVERYTHING is their fault!!: No, but really, they screwed us with that 1% rate..

haha, and what was the outcome of this deviously cunning strategy meant to be? everyone would be too poor to afford the fight against having microchips implanted inside them?

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Originally posted by Krypton No, but really, they screwed us with that 1% rate..

Speak for yourself white face.
There's dumb people with money and dumb people without money, sooner or later they all end up just dumb and broke because they don't know what they're doing with it. They don't plan for worst case scenarios, they don't know what to spend it on to keep it as an asset, fritter it away on crap that ends up costing them more in both interest rates and it's own liabilities.

After awhile, they end up in this frustrated mire of their own stupidity and get down to the 'throat cutting' because they're just not good enough to do it any other way.
Besides, it's much nicer to just walk away from a deal after absolutely wrecking someone into the dirt and they're still smiling, thinking they got the best deal ever. Chances are, they'll probably even let you do it too them twice!

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Originally posted by pkcRAISTLIN haha, and what was the outcome of this deviously cunning strategy meant to be? everyone would be too poor to afford the fight against having microchips implanted inside them?

LOL, I don't think EVERYTHING is a darn conspiracy..

It was an overreaction, just like every bubble throughout history, has been caused by overreaction. I just think in relation to the subprime bubble, I think it started from the top-down with that 1% fed rate. I think the dollar should have competition in the states. Perhaps a gold or silver backed dollar put into circulation? That would definately chill the Fed from printing OBSCENE amounts of extra liquidity whenever the dumbass banks screw up. If they want to do that, then hey, the dollar witah become more inflated as is happening today. If there was a gold or silver backed standard of legal tender right now, they'de be going around like hot cakes. The dollar hegemony would truly be over. Crude prices demonstrate this further. Boy, would life be awesome if every time we squandered out money, we could get bailed out..

And I love Ron Paul, because it's as if he's read my mind!

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