Look Out, Below...Mkt Crumble Continues... - Page 2

JGQ · #11 10-07-2008, 12:38 PM

Quote:

Originally Posted by MrLabGuy

What makes us believe that the banks will start lending after the bailout bill? The problems started because they were lending to people who could not pay in part mandated by the government. So now the government gives them a ton of money to cover part of the bad debt and tells them to start lending again. I don't think so.

Simple and concise

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motordavid · #12 10-07-2008, 03:27 PM

Ah, down again today...

Like many of us, my Port's High was just about a year ago...
and, it is now at its all time low, since I have been retired
these past 8 1/2 years. Anyone need an assistant?

I'm gonna look like one of these guys, pretty soon...

inglebert · #13 10-07-2008, 04:06 PM

Wait until January. Home sales will be completely dead, Holiday bills, Energy bills sky high and no income tax return checks yet. Next quarter we will crash and burn.

I'm glad all my money is in commemorative buckets from KFC.

Meiac09 · #14 10-07-2008, 04:09 PM

Quote:

Originally Posted by inglebert

Wait until January. Home sales will be completely dead, Holiday bills, Energy bills sky high and no income tax return checks yet. Next quarter we will crash and burn.

I'm glad all my money is in commemorative buckets from KFC.

I buried in my basement

spoken like a true pessimist

LeMansX5 · #15 10-07-2008, 04:41 PM

Dow down 500+ points.

tuan · #16 10-07-2008, 06:05 PM

Quote:

Originally Posted by SANguru

give??? did you read the 110+ pages of the published plan? Dude it's a loan and the government if the assets are priced correctly will make money on this.

Really? How is it a loan? The revised Emergency Economic Stabilization Act of 2008 (EESA 2008) that was recently passed by both the Senate and the House, and signed into law by the Pres provides (among other things) the Secretary of the Treasury with funds to purchase toxic mortgage-backed securities and other assets from financial institutions. With your deep background in all things financial, perhaps you can explain to us how this bill (now a law) is a loan. What are the terms of the loan, and what interest is paid to the Treasury at the maturity of the loan?

Quote:

Originally Posted by SANguru

Just look at the Bank of America deal with the Countrywide ARM's. I suggest reading the rescue plan in detail.

I'm not sure what you're trying to say with this comparison. Could you elaborate on the B of A deal with the Countrywide ARM's because not all of us are financial experts. You're implying that you read the EESA 2008 in detail. Why don't you give us the "EESA 2008 for Dummies" version so we can understand the law.

I agree with MrLabGuy, there is nothing that mandates financial institutions to start lending again. It is the hope of the Treasury and the Fed that by removing toxic debt off their balance sheets, that they will provide credit to a market that badly needs it.

motordavid · #17 10-07-2008, 07:17 PM

Feels like this...

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