It's Possible

Superfreak said:
sorry, I am not psychic... or psychotic like Gumby.... how do I like who???
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Come on, your boy, don't tell me you like what he has pulled? When are you going to finally come to your senses and cut him loose for the good of your country? Or are you going to vote Obama but never admit it here? You cannot possibly be this stupid, sorry but I don't believe it.
 
Chapdog said:
I had a theory on way home from work last night.

McCain was grandstanding saying hes going to dump out of the debate on Friday to go back to congress. (this is because the debate would almost surly turn to economy over security)
Yesterday morning they had the nuts and bolts deal in place before mccain even got there. Instead of going to his senate seat he made a b-line to the house and came out all smiling with a block on the deal... thinking today or Monday they pass one and he comes out looking like the guy who got it done.
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Absolutely a big possibility.
 
Chapdog said:
I had a theory on way home from work last night.

McCain was grandstanding saying hes going to dump out of the debate on Friday to go back to congress. (this is because the debate would almost surly turn to economy over security)
Yesterday morning they had the nuts and bolts deal in place before mccain even got there. Instead of going to his senate seat he made a b-line to the house and came out all smiling with a block on the deal... thinking today or Monday they pass one and he comes out looking like the guy who got it done.
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You could be correct. They just let JP Morgan STEAL WaMu because of the delay. At least this didn't hit the FDIC like I thought would happen. Anyone who wants to see how to turn these mortgages that 'no one wants' into profits... just keep an eye on Morgan. They got a steal because the FDIC couldn't take the hit.

There better be a good explanation as to what turned this deal sour.
 
I just hope it doesnt backfire and the dems say.. hold on brother, we are NOT going to let you look like a hero here. No deal and wait for him to leave Washington.
 
Superfreak said:
You could be correct. They just let JP Morgan STEAL WaMu because of the delay. At least this didn't hit the FDIC like I thought would happen. Anyone who wants to see how to turn these mortgages that 'no one wants' into profits... just keep an eye on Morgan. They got a steal because the FDIC couldn't take the hit.

There better be a good explanation as to what turned this deal sour.
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If FDIC got hit from WM it would have drained FDIC to 0.. goodbye money markets. This is thin ice right now.
 
Darla said:
Come on, your boy, don't tell me you like what he has pulled? When are you going to finally come to your senses and cut him loose for the good of your country? Or are you going to vote Obama but never admit it here? You cannot possibly be this stupid, sorry but I don't believe it.
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sorry, I realized who you were talking about after I posted that and read Chaps post. Been a little nutty on the open today.... so I was a tad distracted.

There had better be a good reason why this turned sour. If he went in and mucked this up, just for the sake of trying to appear as the one who solved it.... then he loses my vote.... and NO, my vote would not likely go to Obama. I would most likely leave the Pres ticket blank.
 
Chapdog said:
If FDIC got hit from WM it would have drained FDIC to 0.. goodbye money markets. This is thin ice right now.
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Actually the FDIC didn't have enough to cover WaMu. They would have had to gone to Treasury hat in hand. The good news from this takeover by Morgan is that WaMu was the one the FDIC was worried about. No other big bank is teetering as close as WaMu was. They can take some smaller banks getting hit.

But still, this deal needs to get done by Sunday night.
 
Wall Street is Main Street. The way some people are talking on here, it's like Wall Street is some golden throne high above the people, completely separate. Everything in this economy is interconnected. If Wall Street tanks, companies lose money, people get laid off, they stop spending money, and every industry you can think of suffers.

You really don't know s**t, tops. You talk a big game, but whenever you say something like the above, you sound like you're in elementary school. I remember you telling me that housing didn't really affect other areas of the economy.[/QUOTE]


Bullshit salesman
I'll match my funds left with yours ya tool.
I'm saying the little guy shouldn't pay to keep WS brokers/gamblers in business. Recessions happen every decade usually, and are usually brought on by bad business or gov policy.
This market has been overvalued for years and I've have been saying such, it needed a reason to go down. It's called regressing to the mean, I know you didn't study that or any other business.
 
Superfreak said:
sorry, I realized who you were talking about after I posted that and read Chaps post. Been a little nutty on the open today.... so I was a tad distracted.

There had better be a good reason why this turned sour. If he went in and mucked this up, just for the sake of trying to appear as the one who solved it.... then he loses my vote.... and NO, my vote would not likely go to Obama. I would most likely leave the Pres ticket blank.
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Well, what would you need to "prove" that happened? McCain on tape laughing over it with Dick Cheney and Steve Schmidt? Cause I know you haven't believed anything that has obviously gone on within the bush admisntration without the smoking gun of a full confession.

Fine don't vote for Obama but there's one guy who has been cool as a cucumber and real level headed during this, so whatever your problem is with him, go cut off the country's nose to spite your face, but deep down you know who you want behind the wheel of this bus after this week, I will bet.
 
Superfreak said:
Actually the FDIC didn't have enough to cover WaMu. They would have had to gone to Treasury hat in hand. The good news from this takeover by Morgan is that WaMu was the one the FDIC was worried about. No other big bank is teetering as close as WaMu was. They can take some smaller banks getting hit.

But still, this deal needs to get done by Sunday night.
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Wachovia is about to go.
 
Chapdog said:
I had a theory on way home from work last night.

McCain was grandstanding saying hes going to dump out of the debate on Friday to go back to congress. (this is because the debate would almost surly turn to economy over security)
Yesterday morning they had the nuts and bolts deal in place before mccain even got there. Instead of going to his senate seat he made a b-line to the house and came out all smiling with a block on the deal... thinking today or Monday they pass one and he comes out looking like the guy who got it done.
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Not a theory. It's a fact. McHennyPenny was claiming that there will be a Depression by Monday and his quest to be the hero may just help that happen.
 
Dungheap said:
National City may go too.
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both are possibilities, but both should hang on long enough for the idiots in DC to get this deal done. That said, even if they both go under, the FDIC has enough to cover them... barely. Hopefully this deal is done before we get to know for sure.

The bigger problem is that foreign investors are getting very ancy... if they start dumping US assets because the idiots in DC can't get this done... we are ALL hosed.

Of course if you are Obfuscate, we should just let the system collapse rather than try the debt for equity swap.
 
I don't need to read Darla's thread when I see the topic "It's possible". Yes we can! Yes we can---become a marxists society. I am sure the topic has something to do with that.

No thanks Darla---I love the USA.
 
Superfreak said:
both are possibilities, but both should hang on long enough for the idiots in DC to get this deal done. That said, even if they both go under, the FDIC has enough to cover them... barely. Hopefully this deal is done before we get to know for sure.

The bigger problem is that foreign investors are getting very ancy... if they start dumping US assets because the idiots in DC can't get this done... we are ALL hosed.

Of course if you are Obfuscate, we should just let the system collapse rather than try the debt for equity swap.
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I assume you are well aware of which particular idiots in DC are blocking the deal?
 
Dungheap said:
I assume you are well aware of which particular idiots in DC are blocking the deal?
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yes, well aware.... I want to see this "new" deal being proposed. Because it better have something phenomenal in it that protects taxpayers (something the existing plan didn't have)... otherwise I am going to get quite pissy.
 
Chapdog said:
two thousand dollar tax increase to fund a 700B attack on the root cause of the problem is worth it compared to the tens of thousands i lose in stock and home value daily with this shit. Thats what people don't get... Im not buying at xmas or a car or anything if im losing money every day, My BIL wont get financing for business expansion if banks aren't offering favorable lending, My company will freeze our hiring and layoff all the contractors.

If we go into recession we will lose 8T of market cap at a minimum in this country.
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Well the average working prople have been hurting for years. Wages not keeping pace with inflation. welcome to the club.
 
Superfreak said:
Actually the FDIC didn't have enough to cover WaMu. They would have had to gone to Treasury hat in hand. The good news from this takeover by Morgan is that WaMu was the one the FDIC was worried about. No other big bank is teetering as close as WaMu was. They can take some smaller banks getting hit.

But still, this deal needs to get done by Sunday night.
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heard it needed to get done before the open of the Asian market on sunday from some financial guru???

i am one that is not sold on the bailout super.... i just can not comprehend how $700 billion can even possibly save the entire world's economy? or what is really happening here....????

i also do not understand why bailing homeowners out of their adjustables in to conventionals taking the hit on only the devaluation amount, wouldn't solve the whole mess, only TRICKLE UP to the banks by having fewer homes foreclosed thus the MBS's are worth something again and the trading and loaning begins again?

though i'm not necessarily for that bailout either! :(

care
 
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