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Thread: Things are getting dark

  1. #151 | Top
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    Quote Originally Posted by evince View Post
    http://www.nysun.com/article/66268

    How in the hell will the Rs blame this on the Dems?



    After what Los Angeles money manager Arnold Silver called "a brutal three days," the question is: What now for the market?

    A Wall Street superstar this year who runs Balestra Capital Partners, Jim Melcher, says he's "worried about a recession. Not a normal one, but a very bad one. The worst since the 1930s. I expect we'll see clear signs of it in six months with a dramatic slowdown in the gross domestic product."

    Balestra Capital, a $350 million New York hedge fund, was up 3% for the past three market sessions, when the Dow Jones Industrials, spearheaded by widespread declines in financial stocks and fears of more billion-dollar-plus asset write-downs, tumbled more than 677 points, or about 4.5%. The Nasdaq fared worse, skidding about 7%, triggered by across-the-board declines in those fast-stepping technology stocks.

    Balestra

    They found the way... its all President Obama's fault!
    4,487

    18 U.S. Code § 2071 - Concealment, removal, or mutilation generally
    44 U.S.C. 2202 - The United States shall reserve and retain complete ownership, possession, and control of Presidential records; and such records shall be administered in accordance with the provisions of this chapter.


    LOCK HIM UP!

  2. #152 | Top
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    having three years to fix it and only making it worse?.....yes, that's Obama's fault......"give me four more years and I'll try to think of something!".......
    Isaiah 6:5
    “Woe to me!” I cried. “I am ruined! For I am a man of unclean lips, and I live among a people of unclean lips, and my eyes have seen the King, the Lord Almighty.”

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    what an epic thread

  4. #154 | Top
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    Quote Originally Posted by Chapdog View Post
    I dont always get desh.. you have been talking market gloom for like 2years now... probably longer. Its not going to happen. we will have corrections as we always do. The housing market correction will end at some point because shelter is a necessity.

    In terms of your pro tax increase.. and for all of you that think 2.6T annual tax receipts isnt enough for a small populous of 300M people your simply flat out socialists. its an absurd amount of money for what the government job should be.

    Now if you want to tax the righ more thats fine.. but give the cuts back to the middle class. Poor already get off easy. it should be a wash. There is absolutely no need to collect more taxes.


    1 Last thing.. only a fool would think the 90's historic bull market was the result of a tax increase. Did the tax increase help balance the budget? perhaps.. but there would have been no balance without the tech boom. So unless u think there is another golden boom around the corner to eliminate the pain of a tax increase on the middle class then I wouldnt be looking for it.


    oh chappy were are you now

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    Quote Originally Posted by gonzojournals View Post
    Somehow I think that means that if the economy slides a bit 30 or 40 years from now, Desh will come out of her grave to shout "I told you so!"
    and you little friend

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    Quote Originally Posted by Topspin View Post
    Deshtard, like USC you never troll a post to substantiate a huge up move in the market.
    Your as credible as you are thin
    at least toppy faced the facts

  7. #157 | Top
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    Quote Originally Posted by evince View Post
    oh chappy were are you now
    LOL
    DARLA: The Internet's Leading Cause of White Dude Butthurt 12 Years and Counting

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    Quote Originally Posted by gonzojournals View Post
    I'm not too worried about the economy-- first of all, the market may have taken a hit, but last week (I think, maybe two weeks ago) there was a day that set records for the amount of increase.

    Not only that, but Desh likes to ignore that a great deal of economic success in the mid-late 90s came from Greenspan and the Fed., which Clinton frequently disagreed with but took the credit for Greenspan's successes.
    Fucking epic. I'm glad you bumped this Desh!

    I am not too worried about the economy! LMAO And this guy was one of those who was smarter than everyone you know. Hilarious.
    DARLA: The Internet's Leading Cause of White Dude Butthurt 12 Years and Counting

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    Quote Originally Posted by Superfreak View Post
    LMAO.... The Bush team did this? Right Desh.

    This policy was heavily promoted under your beloved dear leader Clinton. You think the economy didn't benefit from this practice then? Bush may not have done anything to stop it..... but neither did any single Dem in DC. BOTH parties could have done something, neither chose to do so. Bottom line though is that the bulk of the responsibility lies with the borrower and lender. The industry didn't "wring Americans dry".... by and large most of those people wanted more home/car/toys than they could afford and they got burned when rates went up. The industry got burned because they did not act to stop the consumer from taking out loans they should have known would blow up.







    This is NOT to say there weren't any predatory lending practices, but the consumer has a responsibility to live within their means AND to know what they are purchasing.


    but now we know about that SEC broker rule thingy huh.


    the date on when they finally allowed some broker rules after years of stalling them coinsides pretty closely to the time I posted this tread.

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    Quote Originally Posted by evince View Post
    http://banking.senate.gov/index.cfm?...th=3&Year=2007


    Despite those warning signals, in February of 2004 the leadership of the Federal Reserve Board seemed to encourage the development and use of adjustable rate mortgages that, today, are defaulting and going into foreclosure at record rates. The then-Chairman of the Fed said, in a speech to the National Credit Union Administration, said:

    “American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.”

    Shortly thereafter, the Fed went on a series of 17 interest rate hikes in a row, taking the fed funds rate from 1% to 5.25%.

    So, in sum: By the Spring of 2004, the regulators had started to document the fact that lending standards were easing. At the same time, the Fed was encouraging lenders to develop and market alternative adjustable rate products, just as it was embarking on a long series of hikes in short term rates. In my view, these actions set the conditions for the perfect storm that is sweeping over millions of American homeowners today.

    By May, 2005, the press was reporting that economists were warning about the risks of these new mortgages.

    June of that year, Chairman Greenspan was talking about “froth” in the mortgage market and testified before the Joint Economic Committee that he was troubled by the surge in exotic mortgages. Data indicated that nearly 25% of all mortgage loans made that year were interest-only.

    Yet, in December, 2005, the regulators proposed guidance to reign in some of the irresponsible lending. And we had to wait another seven months, until September, 2006, before that guidance was finalized.

    Even then, even now, the regulators’ response is incomplete. It was not until earlier this month – more than 3 years after recognizing the problem – that the regulators agreed to extend these protections to more vulnerable subprime borrowers. These are borrowers who are less likely to understand the complexities of the products being pushed on them, and who have fewer reserves on which to fall if trouble strikes. We still await final action on this guidance, which I urge the regulators to complete at the earliest possible moment.

    warning signs everywhere and Not a peep out of therepublicans in charge

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    Quote Originally Posted by cawacko View Post
    something tells me you DONT want attention right now?

    could it be that you make a fool of yourself in this thread and dont want anyone to remember just how wrong you were?

  13. #163 | Top
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    my mentor at the time was this guy called uscitizen.

    man do I miss him.

    tee hee

  14. #164 | Top
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    Quote Originally Posted by cawacko View Post
    Oh, do you need some attention, Cawacko? What's up, another night on the town, drunk and in the gutter?

  15. #165 | Top
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    Quote Originally Posted by Chapdog View Post
    I dont always get desh.. you have been talking market gloom for like 2years now... probably longer. Its not going to happen. we will have corrections as we always do. The housing market correction will end at some point because shelter is a necessity.

    In terms of your pro tax increase.. and for all of you that think 2.6T annual tax receipts isnt enough for a small populous of 300M people your simply flat out socialists. its an absurd amount of money for what the government job should be.

    Now if you want to tax the righ more thats fine.. but give the cuts back to the middle class. Poor already get off easy. it should be a wash. There is absolutely no need to collect more taxes.


    1 Last thing.. only a fool would think the 90's historic bull market was the result of a tax increase. Did the tax increase help balance the budget? perhaps.. but there would have been no balance without the tech boom. So unless u think there is another golden boom around the corner to eliminate the pain of a tax increase on the middle class then I wouldnt be looking for it.

    powned you

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