why is the gov't letting these banks RUSH to pay off TARP?? The
only reason the banks wish to do this is so they can start paying
themselves in exorbitant bonuses again. If the acounting rules were
to somehow be changed back to where they were in March...we would
have another run on the banks.....and this time the public wouldn't
be so responsive to another bank bailout..
dylan -- that's right. go back to mark-to market
accounting and the banks are all insolvent. They're balance
sheets depend on believing that hous prices and employment and
commercial reral estate are going to bounce back in a year or two
and be where they were in 2006. hahahahahahaha.
I have a good friend who is the lead desinger for a local home
builder here is a suburb of Philly. Their company has reported 45
hoime sales so far this year. Of the 45 sales...29 of the homes
were purchased by the owner and he is presently trying to rent them
out. The shared housing in the classified section in the local
newspaper went from 5-10 entries to half a page in the
newspaper...things are not recovering families are having
discussions we never thought we would have (my bother and I are
discussing how we'll be able to take care of our parents who
haven't saved anything for retirement and are now both
unemployed and looking more and more unemployable)....this economy
is toast and the Dem's are counting on some road building and
Census taking next year for re-election....good luck
that's fine - rant all you want. I was listening to
an economist on NPR explaining to listeners why the bank
situation is better now, unemployment seems to be turning a corner,
etc etc..........a total fluff piece, and this is the level at
which the problems are being discussed for popluar
consumption. makes me sick. A third of the
single-family housing nimber is condos being bought out of
foreclosure by speculators. Ha. Good luck to them,
too.
I'm with ya, dylan. Smoke and mirrors will get us sooner or
later and Meredith Whitney is one of the very few who are trying to
lay out honestly--painfully, but honestly.
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TARP
Posted by dylan398 on 8th of Dec 2009 at 08:40 am
why is the gov't letting these banks RUSH to pay off TARP?? The only reason the banks wish to do this is so they can start paying themselves in exorbitant bonuses again. If the acounting rules were to somehow be changed back to where they were in March...we would have another run on the banks.....and this time the public wouldn't be so responsive to another bank bailout..
dylan -- that's right. go
Posted by Michael on 8th of Dec 2009 at 08:46 am
dylan -- that's right. go back to mark-to market accounting and the banks are all insolvent. They're balance sheets depend on believing that hous prices and employment and commercial reral estate are going to bounce back in a year or two and be where they were in 2006. hahahahahahaha.
Title: OT Michael, I have a good
Posted by dylan398 on 8th of Dec 2009 at 09:08 am
Michael,
I have a good friend who is the lead desinger for a local home builder here is a suburb of Philly. Their company has reported 45 hoime sales so far this year. Of the 45 sales...29 of the homes were purchased by the owner and he is presently trying to rent them out. The shared housing in the classified section in the local newspaper went from 5-10 entries to half a page in the newspaper...things are not recovering families are having discussions we never thought we would have (my bother and I are discussing how we'll be able to take care of our parents who haven't saved anything for retirement and are now both unemployed and looking more and more unemployable)....this economy is toast and the Dem's are counting on some road building and Census taking next year for re-election....good luck
sorry for the rant
dylan
Posted by Michael on 8th of Dec 2009 at 09:42 am
that's fine - rant all you want. I was listening to an economist on NPR explaining to listeners why the bank situation is better now, unemployment seems to be turning a corner, etc etc..........a total fluff piece, and this is the level at which the problems are being discussed for popluar consumption. makes me sick. A third of the single-family housing nimber is condos being bought out of foreclosure by speculators. Ha. Good luck to them, too.
I'm with ya, dylan. Smoke
Posted by mark09 on 8th of Dec 2009 at 09:17 am
I'm with ya, dylan. Smoke and mirrors will get us sooner or later and Meredith Whitney is one of the very few who are trying to lay out honestly--painfully, but honestly.