GDP: US Economy grows at fastest pace in nearly two years. God Bless Bidenomics.

[QP!]

sorry...we realize you know nothing about the situation, being a mindless demmycrat, but the only problem we faced was the federal guarantee....without that we could have let the fucking bankers go under and there would have been no domino effect......the federal guarantee falls directly in the demmycrats lap......demmycrats who walked away with taxpayer bailouts.....

Which just shows the depths of your stupidity.

Imagine anyone being so stupid that they say, like you do, that no amount of fraudulent loans going in to the debt bundles matters as long as they are not guaranteed because you would just let the fraudulent loans all default and that would not impact anything.

I am going to try and explain this in even a way a slum lord lawyer SHOULD be able to understand.

Slumlord Lawyer manages the bundled portfolio of individual owned privately properties, as financed by his clients, the banks or institutions who underwrite those mortgage bundles. These are all on the low income spectrum, that consist of, but not limited to :

- town homes
- multi family homes
- condos
- etc

Because it is BUNDLED, your bank financing and the leverage you take advantage of, on the entire portfolio is reliant on all the assets in the bundle performing WITHIN the tolerance ranges of defaults, that each segments historical default rates dictate within a certain tolerance.


NOw, you the slum lord lawyer are notified, that a significant percent of all those loans in your portfolio were completely fraudulent and are ALL going to fail. This blows thru any 'TOLERANCE' or variance the bundle was expected to absorb, so simply letting that failing bundle go bankrupt, and not having any guarantee (should you be able to get away with that) DOES NOT fix the problems that will follow.


Now that the fraudulent assets are exploding, your entire portfolio is at risk due to many factors, which are, but not limited to :

- the entire portfolio now being in or near default due to the leverage it took on including the expectation of those loans performing within tolerance
- the tiers of loans closest to the fraudulent loans, that are not fraudulent but are very low equity, being tipped into default, AGAIN outside tolerance, as the glut of the fraudulent homes hitting the market impacts over all market prices in this low income segment, devaluing the homes of those who had good, but thin equity loans prior, now having homes deep underwater in their equity and the banks now recalling those loans too.
- As those homes too now start hitting the market, it causes a cascade effect thru the entire system until you get to the tier of home ownership that is rich enough to have enough equity to withstand the homes devaluations.

So even without a 'guarantee' it DOES NOT prevent this problem from happening.

 

[Phyllis Diller]

sorry...we realize you know nothing about the situation, being a mindless demmycrat, but the only problem we faced was the federal guarantee....without that we could have let the fucking bankers go under and there would have been no domino effect......the federal guarantee falls directly in the demmycrats lap......demmycrats who walked away with taxpayer bailouts.....

but it was in place.

the bankers and the government are working together to fleece everyone else.

it's textbook fascism.

who made bankers leverage up the risk with resecuritization schemes and paid off ratings agencies?

private companies must take their share of the blame.

and you need to open your stupid fucking corporatist eyes.

 

[Phyllis Diller]

Which just shows the depths of your stupidity.

Imagine anyone being so stupid that they say, like you do, that no amount of fraudulent loans going in to the debt bundles matters as long as they are not guaranteed because you would just let the fraudulent loans all default and that would not impact

I am going to try and explain this in even a way a slum lord lawyer SHOULD be able to understand.

Slumlord Lawyer manages the bundled portfolio of individual owned privately properties, as financed by his clients, the banks or institutions who underwrite those mortgage bundles. These are all on the low income spectrum, that consist of, but not limited to :

- town homes
- multi family homes
- condos
- etc

Because it is BUNDLED, your bank financing and the leverage you take advantage of, on the entire portfolio is reliant on all the assets in the bundle performing WITHIN the tolerance ranges of defaults, that each segments historical default rates dictate within a certain tolerance.


NOw, you the slum lord lawyer are notified, that a significant percent of all those loans in your portfolio were completely fraudulent and are ALL going to fail. This blows thru any 'TOLERANCE' or variance the bundle was expected to absorb, so simply letting that failing bundle go bankrupt, and not having any guarantee (should you be able to get away with that) DOES NOT fix the problems that will follow.


Now that the fraudulent assets are exploding, your entire portfolio is at risk due to many factors, which are, but not limited to :

- the entire portfolio now being in or near default due to the leverage it took on including the expectation of those loans performing within tolerance
- the tiers of loans closest to the fraudulent loans, that are not fraudulent but are very low equity, being tipped into default, AGAIN outside tolerance, as the glut of the fraudulent homes hitting the market impacts over all market prices in this low income segment, devaluing the homes of those who had good, but thin equity loans prior, now having homes deep underwater in their equity and the banks now recalling those loans too.
- As those homes too now start hitting the market, it causes a cascade effect thru the entire system until you get to the tier of home ownership that is rich enough to have enough equity to withstand the homes devaluations.

So even without a 'guarantee' it DOES NOT prevent this problem from happening.

yes.

it's simple fraud and corruption and shirking of due diligence.

 

[QP!]

If Trump had this economy, with close to 14 million jobs added, and growth steady - it would be the greatest economy we've ever known.

Yup

And Trump did. He trumpeted worse GDP numbers, worse stock market performance, worse job growth, relative to that Obama and Biden got in their terms, as the 'best US economies ever' and derps ate it up, even as they now say the superior numbers of Obama and Biden, do not count for ... 'reasons'.


Trump had one trick in his pocket, and that was to inherit a great economy and pump it up with tons of debt, while damaging the future he knew he would not be POTUS for, when payment time came.

It is the same trick he used when he got his Dads money and businesses. Pump them all up with debt, live off the sugar high and ponzi scheme you are creating, while hoping you can manage a win with the growth you get. But just like with Trumps money he inherited from Daddy, and the bankruptcy after bankruptcy, after Bankruptcy, that triggered Trump to have to go thru, that is where he was leading the US economy.

there is no magic to inheriting any very healthy business or economy and leveraging them up with cheap debt, to create the sugar high effect of debt fueled growth. Citizens or shareholders, with short term views only will reward that, as the 'risk' is all future loaded and many short term corporate investors believe they will simply move on the next investment before that debt takes a toll, and many citizen voters, do not think long term and the Republi'cans' think they can just bully the next Dem POTUS into austerity and FIXING IT, which they often do, just so the Replubli'cans' can do it all over again.


It is like an abusive relationship where one partners in a marriage (the republi'cans') are constantly running up the family debt, and the kids feel rich as they spend $1.30 for every dollar of income earned, and the other partner says 'enough' and puts the family on austerity to now pay down that debt, with the family living off $0.70 of every dollar of income earned.

If the family is naive or filled with Derps they think the partner who balloons the family debt is the better one to have in charge as they 'feel better' when they earn $1 but get the benefit of $1.30 thanks to the debt. the partner who is always the responsible one, is thought of as the worse by derps.

 

[QP!]

but it was in place.

the bankers and the government are working together to fleece everyone else.

it's textbook fascism.

who made bankers leverage up the risk with resecuritization schemes and paid off ratings agencies?

private companies must take their share of the blame.

and you need to open your stupid fucking corporatist eyes.

PmP, does not understand business or law beyond Fox News and OAN 101 teachings.

So he will never blame the elites or rich bankers. Nope, to him they are angels and need to get bigger bonuses as Fox and OAN always say so.

Imagine, as he does, taking the position that no amount of fraud matters in the system as long as the system does not have to guarantee it by gov't law.

it shows he does not know fuck all about how Banks leverage the mortgages REGARDLESS OF GOV'T GUARANTEE, in a way that if one significant segment collapses due to fraud, the entire bundle is ALL put at risk, due to the leverage it was financed on.

He knows he is not supposed to comment on matters of law or business. he is like Marjorie Greene commenting on National Defense. And yet he keeps doing it.

 

[Concart]

Had there not been a bank bailout, there would have been a run on the banks and the entire economy would have collapsed. Simpleton right wingers don't understand that. The economy is based on the velocity of money, when the investment banks began to fail, the money stopped moving, almost completely. Bank to bank overnight lending had frozen, which impacted the ability of banks to borrow short term to cover payrolls, etc. The Fed had to step in in their role as borrowers of last resort.

Not one Trump cultist here understands ANY of what I just said. They are simply too fucking stupid.

 

[Phyllis Diller]

PmP, does not understand business or law beyond Fox News and OAN 101 teachings.

So he will never blame the elites or rich bankers. Nope, to him they are angels and need to get bigger bonuses as Fox and OAN always say so.

Imagine, as he does, taking the position that no amount of fraud matters in the system as long as the system does not have to guarantee it by gov't law.

it shows he does not know fuck all about how Banks leverage the mortgages REGARDLESS OF GOV'T GUARANTEE, in a way that if one significant segment collapses due to fraud, the entire bundle is ALL put at risk, due to the leverage it was financed on.

He knows he is not supposed to comment on matters of law or business. he is like Marjorie Greene commenting on National Defense. And yet he keeps doing it.

supply side......

 

[QP!]

Had there not been a bank bailout, there would have been a run on the banks and the entire economy would have collapsed. Simpleton right wingers don't understand that. The economy is based on the velocity of money, when the investment banks began to fail, the money stopped moving, almost completely. Bank to bank overnight lending had frozen, which impacted the ability of banks to borrow short term to cover payrolls, etc. The Fed had to step in in their role as borrowers of last resort.

Not one Trump cultist here understands ANY of what I just said. They are simply too fucking stupid.

Yup. Derps gonna derp.

The rise of the right wing derps, when it comes to banking/economy, the climate, and democracy V Autocracy, is just a massive threat to everything.

Derps have always existed but they were shamed to stay in the background and let smarter people lead. Now the derps, thanks to Trump, think they should lead.

 

[Phyllis Diller]

Had there not been a bank bailout, there would have been a run on the banks and the entire economy would have collapsed. Simpleton right wingers don't understand that. The economy is based on the velocity of money, when the investment banks began to fail, the money stopped moving, almost completely. Bank to bank overnight lending had frozen, which impacted the ability of banks to borrow short term to cover payrolls, etc. The Fed had to step in in their role as borrowers of last resort.

Not one Trump cultist here understands ANY of what I just said. They are simply too fucking stupid.

Omg. we must have fascism and banker bailouts.

fuck you fascist.

 

[Phyllis Diller]

Yup. Derps gonna derp.

The rise of the right wing derps, when it comes to banking/economy, the climate, and democracy V Autocracy, is just a massive threat to everything.

Derps have always existed but they were shamed to stay in the background and let smarter people lead. Now the derps, thanks to Trump, think they should lead.

so you're for banker bailouts?


pick a side, quarter pounder.

 

[Concart]

Yup. Derps gonna derp.

The rise of the right wing derps, when it comes to banking/economy, the climate, and democracy V Autocracy, is just a massive threat to everything.

Derps have always existed but they were shamed to stay in the background and let smarter people lead. Now the derps, thanks to Trump, think they should lead.

Yep, they just endlessly parrot the talking points, but they don't understand any of them. CRA. Glass-Steagal. Fannie and Freddie. Barney Frank. Bank bailout bad. I would wager they don't understand anything about the mortgage business and how those mortgages are bundled and sold. But they pretend to be economic experts. It's laughable. It's like a five year old explaining why Patrick Mahomes sucks.

 

[QP!]

so you're for banker bailouts?


pick a side, quarter pounder.

I am for not cutting off our nose to spite our face.

The system has been so corrupted that sadly we cannot just let 'the banking system' fail to teach them and gov't a lesson.

Put another way, if you are ancient tribe, who feels your tribe leadership is corrupt and wrong, and you know the neighbouring cannibal tribe is coming for all of you, you do not sit back and allow the neighbouring tribe to do its damage, to teach the leadership a lesson.

America is reliant on the Banking sector and gov't even if they have been corrupted at certain levels and so trying to reform them while not allowing them to collapse is the only realistic option unless you want to live in a Mad Max type world.

 

[Phyllis Diller]

I am for not cutting off our nose to spite our face.

The system has been so corrupted that sadly we cannot just let 'the banking system' fail to teach them and gov't a lesson.

Put another way, if you are ancient tribe, who feels your tribe leadership is corrupt and wrong, and you know the neighbouring cannibal tribe is coming for all of you, you do not sit back and allow the neighbouring tribe to do its damage, to teach the leadership a lesson.

America is reliant on the Banking sector and gov't even if they have been corrupted at certain levels and so trying to reform them while not allowing them to collapse is the only realistic option unless you want to live in a Mad Max type world.

can we do it to teach bankers a lesson?

should anyone ever learn anything.

you're a fascist too. go fuck yourself.

 

[QP!]

Yep, they just endlessly parrot the talking points, but they don't understand any of them. CRA. Glass-Steagal. Fannie and Freddie. Barney Frank. Bank bailout bad. I would wager they don't understand anything about the mortgage business and how those mortgages are bundled and sold. But they pretend to be economic experts. It's laughable. It's like a five year old explaining why Patrick Mahomes sucks.

It is most shocking with PmP if indeed he is a slum lord lawyer as he claims.

As he legit seems to not understand these things and thinks things like 'no amount of fraud within a bundle matters as long as you just allow the fraudulent part to go bankrupt alone'. He honestly does not understand how leverage is used and even if the other loans are not 'guaranteeing' one another, the entire leverage on the bundle will be in default and force a cascade of sales.

PmP seems to have some ability to read what we say and learn and backpedal and adapt his position (he tries to not admit it) but it honestly seems that he always gets it wrong based on his base knowledge.

You would think in an area of real estate bundling, even a slum lord lawyer would have some base understanding to counter the Fox and OAN noise, but nope.

 

[QP!]

The leadership of our tribe must learn so let the cannibal tribe next door over run us. That will teach them..

Herp, derp.

 

[Phyllis Diller]

It is most shocking with PmP if indeed he is a slum lord lawyer as he claims.

As he legit seems to not understand these things and thinks things like 'no amount of fraud within a bundle matters as long as you just allow the fraudulent part to go bankrupt alone'. He honestly does not understand how leverage is used and even if the other loans are not 'guaranteeing' one another, the entire leverage on the bundle will be in default and force a cascade of sales.

PmP seems to have some ability to read what we say and learn and backpedal and adapt his position (he tries to not admit it) but it honestly seems that he always gets it wrong based on his base knowledge.

You would think in an area of real estate bundling, even a slum lord lawyer would have some base understanding to counter the Fox and OAN noise, but nope.

we understand perfectly.

finance and government coordinate to fuck over everyone else.

you seemed to understand moments ago.

but now you've gone all retarded.

 

[Into the Night]

I contend that they were a big part of the problem, nobody would have bought CDOs unless the likes of S&P hadn't given them high ratings.

The Return of CDOs: Is Another Economic Crisis on the Horizon?

How big was the CDO market in 2007?

After the crash, the market for CDOs virtually disappeared. In 2006 and 2007, about $386 billion worth of CDOs were issued, according to ProPublica. By the end of 2007 and through 2008, those numbers plummeted, and the market evaporated almost entirely. The news was out: CDOs were toxic.

https://www.businessnewsdaily.com/10353-cdo-financial-derivatives-economic-crisis.html

CDOs are still toxic.
Yes...there will be another crash because of them. These things are just too tempting for the banks.

 

[Into the Night]

so?....Biden was president two years ago too.....

Biden was never elected. He is not President.

 

[Into the Night]

so the economy only sucks ass instead of going down the tubes.......proud?......

The economy went down the tubes. The economic depression that we are still in began with the DEMOCRATS shutting down businesses.

 

[Into the Night]

After years of financial deregulation accelerating under the Bush administration, banks lent subprime mortgages to more and more home buyers, causing a housing bubble. Many of these banks also invested in credit default swaps and derivatives that were essentially bets on the soundness of these loans. In response to declining housing prices and fears of an impending recession, the Bush administration arranged passage of the Economic Stimulus Act of 2008. Falling home prices started threatening the financial viability of many institutions, leaving Bear Stearns, a prominent U.S.-based investment bank, on the brink of failure in March 2008. Recognizing the growing threat of a financial crisis, Bush allowed Treasury secretary Paulson to arrange for another bank, JPMorgan Chase, to take over most Bear Stearn's assets. Out of concern that Fannie Mae and Freddie Mac might also fail, the Bush administration put both institutions into conservatorship. Shortly afterwards, the administration learned that Lehman Brothers was on the verge of bankruptcy, but the administration ultimately declined to intervene on behalf of Lehman Brothers.

Nope. That law was signed by Clinton, not Bush Jr.