Arabians officially broke after the market today

[gjohnson5]

Dont remind me...loloolol It will come back but damn... The Nikkei dropped like a rocket as well.

Exactly.
But I like how republicans with no material of their own are good at posting someone else's information like it's fact
The world market is faultering, not just subprime or someone basically racist Idea that subprime alone caused a economic downturn worldwide

 

[bw1]

Exactly.
But I like how republicans with no material of their own are good at posting someone else's information like it's fact
The world market is faultering, not just subprime or someone basically racist Idea that subprime alone caused a economic downturn worldwide

No material of their own? I deal with this every day, my clients by non-performing assets from banks, mostly defaulted residential mortgages, directly from the traders desk. This is what I do, for a living, DAILY. This is and continues to be a HUGE problem with the market. Take a look at what loans are defalting, loans that should of never been given in the first place. Take a look at my clients trying to reposistion these homeowners notes after they start servicing the paper. Then step back and take a look at who pushed these programs through. Oh and LOFUCKING L at "racist" idea. Talk about no material of your own? Can you say "talking point?"

 

[gjohnson5]

No material of their own? I deal with this every day, my clients by non-performing assets from banks, mostly defaulted residential mortgages, directly from the traders desk. This is what I do, for a living, DAILY. This is and continues to be a HUGE problem with the market. Take a look at what loans are defalting, loans that should of never been given in the first place. Take a look at my clients trying to reposistion these homeowners notes after they start servicing the paper. Then step back and take a look at who pushed these programs through. Oh and LOFUCKING L at "racist" idea. Talk about no material of your own? Can you say "talking point?"

No disrespect , but you kept posting that same old (and BS ) video that the community reinvestment act has somehow caused a WORLDWIDE economic downturn. Yes it is IMHO racist to say that minorities caused the economic downturn via the CRA forcing banks to give loans to minorities. Or maybe you didn't understand the video you continually post???
Anyway Let's just turn a blind eye away from
1. investor deception
2. cooking the books
3. offshore bank accounts used to hide finances
4. predatory lending
5. Executive mismanagement or outright fraud
6. low doc , no doc and teaser rates aimed at escalating monthly payments on mortgages
7. inflation
8 Price bubbles
9. security baked by unscrupulous mortgages listed above

But the fact that the CRA forced banks to give loans to minroties is total bologna

 

[Arabian]

No disrespect , but you kept posting that same old (and BS ) video that the community reinvestment act has somehow caused a WORLDWIDE economic downturn. Yes it is IMHO racist to say that minorities caused the economic downturn via the CRA forcing banks to give loans to minorities. Or maybe you didn't understand the video you continually post???
Anyway Let's just turn a blind eye away from
1. investor deception
2. cooking the books
3. offshore bank accounts used to hide finances
4. predatory lending
5. Executive mismanagement or outright fraud
6. low doc , no doc and teaser rates aimed at escalating monthly payments on mortgages
7. inflation
8 Price bubbles
9. security baked by unscrupulous mortgages listed above

But the fact that the CRA forced banks to give loans to minroties is total bologna

Hey G..

Your exactly right on all 9 points however BW1 is correct on the asset portion of who pushed the programs through the line....

Where have you been? k

 

[lostinfitness]

things aren't going to get better for a while, sorry to be the naysayer. the fed drops rates .5 of a percent and the dow spikes for 5 minutes lol. the world is in a financial crisis. the reality is if all of us are in trouble, forgive debts and start over. If this happens, the value of the money goes up and inflation subsides and we all spend more money.

 

[gjohnson5]

Hey G..

Your exactly right on all 9 points however BW1 is correct on the asset portion of who pushed the programs through the line....

Where have you been? k

I agree that consumer financial mismangement is a big part of it... But to single out minorities is beyond a low blow

Anyway I've been ok with the exception of some stress injuries I've gotten. I'll post a picture of my forearm. It looks fucked up

 

[Arabian]

I agree that consumer financial mismangement is a big part of it... But to single out minorities is beyond a low blow

Anyway I've been ok with the exception of some stress injuries I've gotten. I'll post a picture of my forearm. It looks fucked up

Minorities are not to blame!!!!!!!!!! everyone has to go through the same regulations when appyling for loans.. its the financial industries fault for trying to fund everthing,

 

[gjohnson5]

Minorities are not to blame!!!!!!!!!! everyone has to go through the same regulations when appyling for loans.. its the financial industries fault for trying to fund everthing,

Well there's lots of debate on that point. Let's not forget that Both GW Bush and John McCain were also pro deregulation. Not only that but GW Bush's economic policies pushed heavy tax breaks for these same crooks that mismanaged funds , deceived investors, cooked their financial statements, created loan shark type mortgage interest rates through ARM index and what not. A 15% interest rate on a mortgage would be murder to most anyone. Unfortunately I forgot to list lack of education. Some of these mortgage programs were a total ripoff and that taking these mortgages shows a lack of education

 

[Arabian]

Well there's lots of debate on that point. Let's not forget that Both GW Bush and John McCain were also pro deregulation. Not only that but GW Bush's economic policies pushed heavy tax breaks for these same crooks that mismanaged funds , deceived investors, cooked their financial statements, created loan shark type mortgage interest rates through ARM index and what not. A 15% interest rate on a mortgage would be murder to most anyone. Unfortunately I forgot to list lack of education. Some of these mortgage programs were a total ripoff and that taking these mortgages shows a lack of education

I agree... its all in the name of a DOLLAR and it backfired..

 

[bw1]

No disrespect , but you kept posting that same old (and BS ) video that the community reinvestment act has somehow caused a WORLDWIDE economic downturn. Yes it is IMHO racist to say that minorities caused the economic downturn via the CRA forcing banks to give loans to minorities. Or maybe you didn't understand the video you continually post???
Anyway Let's just turn a blind eye away from
1. investor deception
2. cooking the books
3. offshore bank accounts used to hide finances
4. predatory lending
5. Executive mismanagement or outright fraud
6. low doc , no doc and teaser rates aimed at escalating monthly payments on mortgages
7. inflation
8 Price bubbles
9. security baked by unscrupulous mortgages listed above

But the fact that the CRA forced banks to give loans to minroties is total bologna

BRO, Same old BS? Face the facts. EXACTLY what you posted! Who pushed this? The Democrats!!!!!!!Who pushed these programs? The very people claiming they are going to fix it! Give me a fucking break, you can ignore the facts all you want, but they are as plain as day. Do you want me to name, names? Who was instrumental in pushing these programs you listed? Your party plain and simple. Take a look back at the history of these programs. Banks were forced, yes I said it, forced to give loans to unqualified borowers. These programs were pushed on them or they would be accused of "redlining" or discrimination. Take a look at Acorn. Bro, you know I love our "debates" and respect your passion and opinion, but if you want this problem fixed, shouldn't you at least be willing to address the "real" problem?