why haven't home mortgage rates dropped???

[jnevin]

no.. i expect them to go out of business if they are not profitable.. but they didn't do that.. they begged for an interest free loan, grant/gift so that the ceo could get $100,000,000 bonus and the company then goes out of business..

You must have see something I haven't since the bailout.

 

[75th]

no.. i expect them to go out of business if they are not profitable.. but they didn't do that.. they begged for an interest free loan, grant/gift so that the ceo could get $100,000,000 bonus and the company then goes out of business..

There are still a good amount of banks that are on the up and up. JPMorgan and Wells Fargo were forced to accept the TARP money, even though they were far from any need. US Bancorp is another good example.

But yeah, Citi done fucked up. Thats why theyre breaking into pieces. But you have to understand that if Citi and simply gone under, wed be in a much bigger world of shit than we are right now.

 

[ortiz34]

So what happens if you have let's say a mortgage through citi and they go under
Will another bank buy my loan or can I just stop paying

 

[jnevin]

So what happens if you have let's say a mortgage through citi and they go under
Will another bank buy my loan or can I just stop paying

The paper is owned by fannie or freddie. Another bank will service the loan.

 

[ortiz34]

The paper is owned by fannie or freddie. Another bank will service the loan.

That is what I figured ( Iwas only dreaming)

 

[rnch]

I understand you have some sort of sense of entitlement to a handout. It must be a result of being a New Orleans resident. But you tell me why financial institutions should operate at a loss just to make some people happy. You want them to crash harder?

blindly handing out taxpayer dollars to banks and financial institutions that got themselves in trouble with subprime loans and not asking for any accountability of where the taxppayer's money went to is "some sort of sense of entitlement"???

YES, i wanted them to "crash". if you or I made bad business decisions WE would "crash". whys should some huge corporation, handing out immense bonuses to CEO'S who made poor decisions, be bailed out at MY and your expense????

 

[75th]

blindly handing out taxpayer dollars to banks and financial institutions that got themselves in trouble with subprime loans and not asking for any accountability of where the taxppayer's money went to is "some sort of sense of entitlement"???

YES, i wanted them to "crash". if you or I made bad business decisions WE would "crash". whys should some huge corporation, handing out immense bonuses to CEO'S who made poor decisions, be bailed out at MY and your expense????

Which CEOs received bonuses with TARP money?

 

[rnch]

can ANYONE produce a list of exactly WHAT was done with the taxpayer's bail out money? where did it go, what was it used fo r?

 

[75th]

can ANYONE produce a list of exactly WHAT was done with the taxpayer's bail out money? where did it go, what was it used fo r?

A portion of it was lent out to consumers and businesses. A lot of it is sitting in the various banks' liquid reserve accounts.

Considering 99% of CEOs and directors didnt receive any bonuses whatsoever this year (as that information has to be disclosed) I think its safe to say the TARP funds didnt go to them.

 

[rnch]

...Considering 99% of CEOs and directors didnt receive any bonuses whatsoever this year (as that information has to be disclosed) I think its safe to say the TARP funds didnt go to them.

Considering the amount of money they have lost no bonuses seems like a fair trade to me...

if you or I fucked up that big would we even still have a job?