No outrage from dems on wells fargo 3b qtr

Ice Dancer said:
Refinancing may help to stabablize the economy by slowing the rate of defaults, but it is not going to grow the economy.
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It's all interconnected. I don't see refi as a savior, just one piece of the overall puzzle.

When people aren't defaulting, it helps the banks, it helps businesses who they will spend their money with, it helps them & their confidence.
 
People who ARE NOT in default will refy because the rates are so god damned low.

Once they do they will find they have MORE money at their disposal.

They will likely spend at leas some of this money.

why are these people so dense?
 
evince said:
People who ARE NOT in default will refy because the rates are so god damned low.

Once they do they will find they have MORE money at their disposal.

They will likely spend at leas some of this money.

why are these people so dense?
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If they don't they are fools (unless they have only a few years on their loan). Dropping even by one point will save you about $150 per month that you otherwise would just be paying in interest.
 
evince said:
People who ARE NOT in default will refy because the rates are so god damned low.

Once they do they will find they have MORE money at their disposal.

They will likely spend at leas some of this money.

why are these people so dense?
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so you're expecting that the couple million that refi and can payback will save the economy by spending their saved money in other places while the millions who refi and CAN'T payback will have no effect on the financial industry again.....

who's the dense one here?
 
SmarterThanYou said:
so you're expecting that the couple million that refi and can payback will save the economy by spending their saved money in other places while the millions who refi and CAN'T payback will have no effect on the financial industry again.....

who's the dense one here?
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You're painting brush strokes that are way too broad. First, a wave of refinancing is just one piece of the puzzle; on its own, it will not "save" the economy. Second, you're just throwing #'s out there. I don't know that of the millions that refinanance, literally millions will fall under the category of "can't pay back."

Refinancing, along with other measures that are being taken to help beleagured homeowners, might just be the action that allows them to pay back their loans, and get them through this rough patch until the economy is in recovery, lifting most of those homeowners with it.

The bank crisis was not the result of refinancing. You are mischaracterizing the whole thing, because you seem intent on portraying anyting positive right now as negatively as possible.
 
They only can show profits because their interest rate is .25% and they charge us 5-8% on the loans. There profits are being paid with future inflation.
 
Onceler said:
You're painting brush strokes that are way too broad. First, a wave of refinancing is just one piece of the puzzle; on its own, it will not "save" the economy. Second, you're just throwing #'s out there. I don't know that of the millions that refinanance, literally millions will fall under the category of "can't pay back."

Refinancing, along with other measures that are being taken to help beleagured homeowners, might just be the action that allows them to pay back their loans, and get them through this rough patch until the economy is in recovery, lifting most of those homeowners with it.

The bank crisis was not the result of refinancing. You are mischaracterizing the whole thing, because you seem intent on portraying anyting positive right now as negatively as possible.
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and I think that YOU are also using that very large brush. Actually, i'm quite offended that you, and other liberals here, tend to write me off as just another right winger because I am criticizing Obama. Is there some gene in you liberals that forces you to outright deny that there is anything other than right or left? I'm trying to figure out if there is actually something physically wrong with the makeup of liberals or if they have to work very hard at being obtuse.
 
SmarterThanYou said:
and I think that YOU are also using that very large brush. Actually, i'm quite offended that you, and other liberals here, tend to write me off as just another right winger because I am criticizing Obama. Is there some gene in you liberals that forces you to outright deny that there is anything other than right or left? I'm trying to figure out if there is actually something physically wrong with the makeup of liberals or if they have to work very hard at being obtuse.
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I really don't view you that way; though I know you're conservative, I don't consider you a hack by any means, and I don't think you rail just to rail against Obama or Dems.

I just think you're ignoring the economics involved on this; it's too broad to say "millions that can't afford to do this will end up defaulting & it will make things worse." It ignores so many other factors in the equation.

Like it or not, there is sound economic theory behind that bailouts & the stimulus. You may disagree with it, and that's fine, but it's not like it's part of some nefarious plan to undermine American ideals. Economic theory, imo, tends to be a crapshoot; I believe personally that there is less risk with the theory they have chosen to guide their policy, but again, you may disagree. Still, it is based on basic economics.
 
evince said:
Its working and now they are panicing.

The right is going to be sooooo embarassed when this turns the corner and the dough is payed back.
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loool

when did they get the money desh?

you're killing me...do you even realize you've been praising bush this whole time in this thread
 
Yurt said:
loool

when did they get the money desh?

you're killing me...do you even realize you've been praising bush this whole time in this thread
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She's right, though. The GOP has a vested interest in the economy's failure. They drew a line in the sand w/ the stimulus vote.

If the economy recovers, it's going to be very tough in 2010 & 2012 for Republicans.
 
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