Comments on: No Dice http://emac.blogs.foxbusiness.com/2008/10/13/no-dice/ Fri, 20 Nov 2009 19:57:36 -0500 http://wordpress.org/?v=2.8.5.2 hourly 1 By: chuck http://emac.blogs.foxbusiness.com/2008/10/13/no-dice/comment-page-1/#comment-4374 chuck Wed, 15 Oct 2008 18:52:27 +0000 http://emac.blogs.foxbusiness.com/?p=202#comment-4374 Liz here's my theory. The depressed house market has been the deep root of the problem.And this same problem spun the credit crunch and the subprime mortgage debacle which has crashed most banks on wall and broad. Question the market to market accounting be used with depressed housing market? Just trying to look at this problem in a different way that's all. Liz
here’s my theory. The depressed house market has been the deep root of the problem.And this same problem spun the credit crunch and the subprime mortgage debacle which has crashed most banks on wall and broad. Question the market to market accounting be used with depressed housing market? Just trying to look at this problem in a different way that’s all.

]]> By: Karen - Plantation, FL http://emac.blogs.foxbusiness.com/2008/10/13/no-dice/comment-page-1/#comment-4357 Karen - Plantation, FL Tue, 14 Oct 2008 13:34:59 +0000 http://emac.blogs.foxbusiness.com/?p=202#comment-4357 I understand the mark to market, I understand the "swaps", the Community Reinvestment Act, the repeal of Glass-Steagall, the repeal of the uptick rule, not enforcing prohbiting naked short selling etc., etc., etc. What I continue to not understand is why the Federal Reserve did not DEMAND that Bush understood them, why the SEC did not DEMAND that Bush understood them, why the individual states that were trying to write laws against bad lending did not DEMAND that Bush understood. Why was Bush not made to understand the gravity of the situation and why wasn't Bush given the chance to tell the house and senate that the partisan politics have to go regarding this issue? As far as I am concerned the whole SEC, the whole Federal Reserve, the whole house and the whole senate should resign ASAP. What all have done borders on criminal in my book. I understand the mark to market, I understand the “swaps”, the Community Reinvestment Act, the repeal of Glass-Steagall, the repeal of the uptick rule, not enforcing prohbiting naked short selling etc., etc., etc.

What I continue to not understand is why the Federal Reserve did not DEMAND that Bush understood them, why the SEC did not DEMAND that Bush understood them, why the individual states that were trying to write laws against bad lending did not DEMAND that Bush understood.

Why was Bush not made to understand the gravity of the situation and why wasn’t Bush given the chance to tell the house and senate that the partisan politics have to go regarding this issue?

As far as I am concerned the whole SEC, the whole Federal Reserve, the whole house and the whole senate should resign ASAP. What all have done borders on criminal in my book.

]]> By: mike http://emac.blogs.foxbusiness.com/2008/10/13/no-dice/comment-page-1/#comment-4355 mike Tue, 14 Oct 2008 11:38:56 +0000 http://emac.blogs.foxbusiness.com/?p=202#comment-4355 One must only look at the end of their nose to see the home value decline still has a way to go. Probably 2 years at least, a time when wages will equal pricing. What will happen to the folks who have been paying their mortgage but see massive declines in value and wind up way upside down? walk aways? why pay on a 600k mortgage if your house is worth 300k! It aint over till its over. One must only look at the end of their nose to see the home value decline still has a way to go. Probably 2 years at least, a time when wages will equal pricing. What will happen to the folks who have been paying their mortgage but see massive declines in value and wind up way upside down? walk aways? why pay on a 600k mortgage if your house is worth 300k! It aint over till its over.

]]> By: daveM http://emac.blogs.foxbusiness.com/2008/10/13/no-dice/comment-page-1/#comment-4352 daveM Tue, 14 Oct 2008 00:50:07 +0000 http://emac.blogs.foxbusiness.com/?p=202#comment-4352 Great Insights.!! Great Insights.!!

]]> By: Phx Dave http://emac.blogs.foxbusiness.com/2008/10/13/no-dice/comment-page-1/#comment-4350 Phx Dave Mon, 13 Oct 2008 21:11:22 +0000 http://emac.blogs.foxbusiness.com/?p=202#comment-4350 "(Failing Financ Inst)acquirers(i.e., Wells, BankAmer, Mistsu, Bufft) can use the ($700 bn bailout's)rule to mark up the value of these (junk)bonds in a merger, and then dump them on the US taxpayer" - this should have been the headline, but it's too late anyway. What was done in a week, would take years to change, if at all. The level of corruption is disgusting. We are sadly nearly powerless. PS: I wrote my congressman (US Rep Shadegg) before the 2nd vote about changing mark-to-market to a three yr rolling average instead of bailout, he replied with a form letter... Now that the market had a little uptick today, and because the public/media has the attention span of a flee, the greedy (financial mrkt)rats will end up with a lot of the $700 bn cheese on their plates. I saw the new commissioner of the bailout talk about 'oversight' measures for 20 minutes this weekend-ya right! The media will drop this issue once the market gains half its losses or less. Wish I could have had a piece of the bailout action... Never ever call the $700 bn deviant bailout a rescue plan. Btw, good article E “(Failing Financ Inst)acquirers(i.e., Wells, BankAmer, Mistsu, Bufft) can use the ($700 bn bailout’s)rule to mark up the value of these (junk)bonds in a merger, and then dump them on the US taxpayer” – this should have been the headline, but it’s too late anyway. What was done in a week, would take years to change, if at all. The level of corruption is disgusting. We are sadly nearly powerless. PS: I wrote my congressman (US Rep Shadegg) before the 2nd vote about changing mark-to-market to a three yr rolling average instead of bailout, he replied with a form letter…

Now that the market had a little uptick today, and because the public/media has the attention span of a flee, the greedy (financial mrkt)rats will end up with a lot of the $700 bn cheese on their plates. I saw the new commissioner of the bailout talk about ‘oversight’ measures for 20 minutes this weekend-ya right! The media will drop this issue once the market gains half its losses or less. Wish I could have had a piece of the bailout action…

Never ever call the $700 bn deviant bailout a rescue plan.

Btw, good article E

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