8:50 pm
"gamfam" wrote: The bailout is not a "fix". It's a transfusion to keep the blood (cashflow) circulating while the government stops the bleeding. They can't begin the healing process unless they first stop the bleeding.
The problem is that I'm not convinced it is anywhere near stopping the bleeding. It was a poorly put together, hastily reviewed bill that no one really understands. The president and company used the same old scare tactics that they've been pushing around for a while to convince people that the sky is falling (which it is). But their solution is to throw money at it without a whole heck of a lot of thought. Something had to be done, this is just more of the same "pass it on to the next generation of tax payers" that we've been pulling for a long time. The baby boomers and their economics brought this on the Country and they're going to pay a very small price for it compared to my generation. 
Don't get me started on baby boomers. :censor:
Another stimulus package...geez. I also read that B of A is going to give people that were "bullied" by Countrywide some sort of settlement that helps with the crummy mortgages that they signed up for.
8:54 pm
Club Member
July 10, 2003
Offline I got a good loan through Countrywide 😛
but mine was set up by the teachers association
I used to wheel a lot. . .
9:04 pm
I fully agree that it was done hastily and under duress. The President & Company? Don't forget the Dem's have control of the Senate.
In any case when you're out of oil but HAVE to run you're engine, you are forced to pour oil into it whether you like it or not. I see this as the same situation. Nobody likes it, but they understand that they HAVE to keep pouring oil into it, until they can figure out where the leaks are.
OK, I'm out of stupid analogies . . .
All I'm worried about is my free lunch! jk
9:08 pm
May 4, 2004
Offline "JohnDF" wrote: I got a good loan through Countrywide 😛
Our mortgage is currently held by Countrywide but they're something like the 3rd or 4th holders of our mortgage. It's a good low interest fixed rate mortgage. But I can't believe how many insanely low variable rate offers Countrywide still sends us. Granted, its cut back a bit recently, but we still get them.
9:26 pm
"FAM" wrote: [quote="JohnDF"]I got a good loan through Countrywide 😛
Our mortgage is currently held by Countrywide but they're something like the 3rd or 4th holders of our mortgage. It's a good low interest fixed rate mortgage. But I can't believe how many insanely low variable rate offers Countrywide still sends us. Granted, its cut back a bit recently, but we still get them.
Yep, stay with the fixed!!!
These underwriters are out of control, trying to pimp as many loans as they can. From my point of view, the more regulations, the less freedom of the market (I think that’s bad). But these guys are begging to be regulated. People should go to jail for what they've pulled.
OK, two bad analogies and a soapbox. Bender, you're up!!
9:37 pm
"gamfam" wrote: The President & Company?
I meant "company" about as generally as it could be (Bush, Paulson, Bernanke, Pelosi, McCain, Obama, etc.). I don't see this as a partisan problem. This is a greed/spending run amuck problem. I'm about as fiscally conservative as it gets. At this point neither major party can say that.
John/Fred, I think you guys need to start complaining about how you were takend advantage of by predatory lending practices. From what I've heard, they're talking about lowering interest rates in some cases.
"gamfam" wrote: In any case when you're out of oil but HAVE to run you're engine, you are forced to pour oil into it whether you like it or not. I see this as the same situation. Nobody likes it, but they understand that they HAVE to keep pouring oil into it, until they can figure out where the leaks are.
The problem is that they're pouring olive oil in.
Ha! Two can play the analogy game! 🙂
9:53 pm
Club Member
July 10, 2003
Offline The worst is the credit card companies. They won't leave me alone. I don't have any credit card bills and they can't stand it 
I used to wheel a lot. . .
9:54 pm
Club Member
July 10, 2003
Offline "Bender" wrote:
John, I think you need to start complaining about how you were takend advantage of by predatory lending practices. From what I've heard, they're talking about lowering interest rates in some cases. 🙂
I don't need any handouts...that's what liberals take 😀
I used to wheel a lot. . .
9:54 pm
"Bender" wrote: The problem is that they're pouring olive oil in.
Ha! Two can play the analogy game! 🙂
10:01 pm
"JohnDF" wrote: I don't need any handouts...that's what liberals take 😀
It's not a "hand out" it's a "hand up". :puke:
10:17 pm
Club Member
July 10, 2003
Offline "Bender" wrote: [quote="JohnDF"]I don't need any handouts...that's what liberals take 😀
It's not a "hand out" it's a "hand up". :puke:
It's a hand ...nevermind
I used to wheel a lot. . .
10:56 pm
"Bender" wrote: [quote="gamfam"]The President & Company?
I meant "company" about as generally as it could be (Bush, Paulson, Bernanke, Pelosi, McCain, Obama, etc.). I don't see this as a partisan problem. This is a greed/spending run amuck problem. I'm about as fiscally conservative as it gets. At this point neither major party can say that.
John/Fred, I think you guys need to start complaining about how you were takend advantage of by predatory lending practices. From what I've heard, they're talking about lowering interest rates in some cases.
"gamfam" wrote: In any case when you're out of oil but HAVE to run you're engine, you are forced to pour oil into it whether you like it or not. I see this as the same situation. Nobody likes it, but they understand that they HAVE to keep pouring oil into it, until they can figure out where the leaks are.
The problem is that they're pouring olive oil in.
Ha! Two can play the analogy game! 🙂
I though olive oil was good for you. bad analogy.
11:48 pm
"gamfam" wrote: What's the viscosity rating of Olive Oil?
Different than motor oil. 😀
2:47 pm
you should of said something like sand. they use olive oil on the space shuttle.
2:50 pm
"lowrider" wrote: you should of said something like sand. they use olive oil on the space shuttle.
Olive oil is perfect the perfect analogy. It sounds like it should work, but we really not sure, it might work for a while, but it may also just catch fire and burn the car to the ground. It doesn't help the real problem, but, it makes people think you're doing something.
9:09 pm
Down another 500+ points today. 🙄
Maybe they actually used baby oil.
9:17 pm
Expect it to continue down another 1500 - 2000 points before it bottoms out.
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