Chrysler ultimatum, does this make sense?

[BBShark]

[
Wrong, the insurance division of AIG (for example) is a separate and profitable entity and is not cause of their problems.

No, i'm not wrong. Insurance was being sold to anybody. You didn't even have to hold the mortgage.

It amounts to trading in something that has no underlieing real value. Those securities are going to zero. If it was a simple matter of people not paying their mortgages things would not be that bad. The property still has some residual value say 60-80% of the loan so losses would not be that bad.

It's these financial assholes that created the problem. I have absolutely no respect for someone with an MBA. These idiiots don't understand you can't create something from nothing. I think everybody should have to take some courses in science. Oh and courses on ethics. That should be innate but these guys are functional sociopaths.

Check your facts. Just because you sell insurance to anyone (that wants it) dosen't mean that your a dirtbag.

 

[Cherry]

Who is really happy

OK, so Obama fires General Motors CEO Rick Wagoner. That should fix things:nuts:

I think its a GOOD thing. I don't know what the new guy's background is but i'm so sick of finance people running the world.

The problem is not the mortgages, its all the insurance that was sold to insure the mortgages. We should have let everything fail from the start. That's the was the system is supposed to work. Whatever is left over is bought up by sound companies and there is a natural cleansing.

If it wasn't the mortgages it would have been something else. AIG was selling "insurance" for anything under the sun. They put Vegas to shame.

In the Boston area you can go buy a house full of furniture from Jordans ect. and if the Red Socks sweep the world series, it's all free. They pay for this by buyinig insurance.

No, the problem was CRA. The government said "give loans to people who don't deserve them, if they default, we will cover them".

SO what are the banks to do? If you could sell something backed by the federal government, why would you care who buys it? You're still getting paid.

So banks do what anyone would do, went out and sold as much stuff as they can.

Your Washington self serving useless paper hanging bastard has his own power domain, thus your voice is meaningless. Their self serving agenda's rule their power, again we have no voice. Those who state, Their in the loop are full of "bull sgit". To think "one" is worth a million dollars a year is also full of " Bull Sgit". The life of living with the credit card has destroyed common sense, The credit card is nothing more than a lone shark business which brings total regret to those who default. If you marched to Obama's drum , change crying towels!

 

[Jsup]

All this crap gives me a headache. Too bad we will have to wait 7 years, and see how much is true, and how much is fiction.(If we ever do).
Hell, I still don't know who killed JFK.:banghead:

History isn't fiction it really happened. CRA was the basis of this mess.

Over 50% of these "bad loans" were by institutions not regulated by CRA.

I'd like to see that backup. Even so, the CRA relaxed regulations and set the game plan. So even if not directly tied to CRA, CRA still set the ground rules for risky loans.

50% of the problem today would be better than 100%

 

[big2bird]

Who did shoot JFK anyway's?

 

[Jsup]

Who did shoot JFK anyway's?

Either Al Capone or Jimmy Hoffa.

 

[turtlevette]

Check your facts. Just because you sell insurance to anyone (that wants it) dosen't mean that your a dirtbag.

If you're selling insurance that you can't back, you definitely are a dirtbag.

If i sell you insurance on your vette knowing i've only got 10 dollars in the bank and can't make good on a claim, that is absolutely fraud.

 

[68L71]

One specific thing is not the cause of this whole mess. In addition to some of the things already mentioned I think we have to consider the Federal Reserve kept the interest rates too low too long. The low interest rates played a big part in the rapid increase in home values.

I have zero faith in this administration and the long term effects of the current policy are too scary to think about.

 

[Jsup]

One specific thing is not the cause of this whole mess. In addition to some of the things already mentioned I think we have to consider the Federal Reserve kept the interest rates too low too long. The low interest rates played a big part in the rapid increase in home values.

I have zero faith in this administration and the long term effects of the current policy are too scary to think about.

I have zero faith in government. I believe in the individual.

McCain doesn't understand the role of Government, he was a big government guy, as was Bush, as is to a much much further extent Obama, as is congress.

 

[68L71]

I would have faith in Milton Friedman...too bad politics always gets in the way of good economics.

 

[redvetracr]

why shouldn`t a finance guy run GM? after all GM has become a finance company who sells cars...or at least tries to sell cars....

 

[mrvette]

did you guys not believe Obama when he told "Joe the plumber" he was going to spread the wealth around? do you not think when unions spend tens of millions of dollars to get someone elected there isn`t a payoff? You have seen Washington in action do you not think each and everyone of them is a crook? because I sure do.

I"'m tell you a little story, dunno I ever told it here, maybe once in PRC over the years....it's about me growing up in Wash Dc area, lived there 53 years....

I remember being in like 5-6th grade, and dad coming home really REALLY pissed one night...6pm, set your watch always on time, that was Dad, anyway I was in the living room mom/dad in the kitchen.....dad was rocked pissed, he shouted, 'I WON'T PAY the bastard'....I don't care if the whole damn plan goes down the toilet, I will not pay Senator X (I forget the name) but what it was about is that Dad was in the Insurance business, so he being GOOD at the game, knew the actuary tables and rates and margins of error and shit as good as anyone in the game at the home offices....risk assessment .....so he slaves over the bid for the US Dept of Interior, that's park and shit, land management/whatever.....thousands of workers/families....Dad was big into bulk merchandising of insurance, entire companies, associations, industries, sell to thousands at one shot, spread the risk around, same theory as what insurance is all about.....say like if they wrote the whole damn neighborhood full of houses for homeowners here, with ONE company, covering the entire layout, EVERYONE....bet my premium would be 1/2 what it is NOW.....type thing....

so anyway, he had the best plan, but some hill 'senator' had his hand out, it simply would not happen as he either paid that bastard or no go.....

our family would probably have been millionaires IF that had happened, but you know, Dad/mom was old school church every sunday types, and would not have ANYTHING to do with that type crap....so....they went with a lesser plan who DID pay senator X......

SO talking of crooks in DC, and then adding in Chicago background to the mix.....tell ME WTF is going on....Bullshit little EVA, I KNOW what is going on.....

Miami vice theme.....'the payoffs, ripoffs, things no body saw'....

:crap:

Your Dad sounds like he was a real good and honest guy! :drink:

HE WAS, and a damn fool for being so too....and so was I, a damn fool.....

runs in the family....I blame my mother's influence....

:crap:

 

[Twin_Turbo]

Hell, I still don't know who killed JFK.:banghead:

James Files

 

[JPhil]

Who did shoot JFK anyway's?

The CIA hired the Mafia to do it.

 

[mrvette]

Who did shoot JFK anyway's?

The CIA hired the Mafia to do it.

CIA had nothing to do with it....Italian mob all the way, it was over the Vietnam thing, and popularizing drugs into middle class American kids....

which is the REAL reason we went into Vietnam anyway....SE Asian Opium dens...make drugs available in a demoralizing war we refused to win, and the kids damn well knew it....

it goes back to a generational change in the Italian Mob with the youngsters having no moral/religious problems with dealing drugs....the oldsters did, but they went to jail or died off...so the turnover in leadership brought a interest in making drugs popular, went FAR beyond just a French connection type thing.....

the older Irish mob....like Papa Joe Kennedy's group, were dead set against any drug trafficing involvement....well, so was JFK, and he was going to shut down the Italian mob with the Bobby Kennedy intrusion into the mob finances....heading off the drug war before it started....

so it was open war, and they brought in hired assassins....

Oswald was a patsy.....set up...

 

[BRUTAL64]

Who did shoot JFK anyway's?

The CIA hired the Mafia to do it.

CIA had nothing to do with it....Italian mob all the way, it was over the Vietnam thing, and popularizing drugs into middle class American kids....

which is the REAL reason we went into Vietnam anyway....SE Asian Opium dens...make drugs available in a demoralizing war we refused to win, and the kids damn well knew it....

it goes back to a generational change in the Italian Mob with the youngsters having no moral/religious problems with dealing drugs....the oldsters did, but they went to jail or died off...so the turnover in leadership brought a interest in making drugs popular, went FAR beyond just a French connection type thing.....

the older Irish mob....like Papa Joe Kennedy's group, were dead set against any drug trafficing involvement....well, so was JFK, and he was going to shut down the Italian mob with the Bobby Kennedy intrusion into the mob finances....heading off the drug war before it started....

so it was open war, and they brought in hired assassins....

Oswald was a patsy.....set up...

Yep, pretty much right on. :bounce:

 

[Douglas Mariani]

What makes no sense to me is that BILLIONS of dollars are being spent/thrown away and people like you and me are paying for it. Then there's the corporate exec's and their excessive rewards (for failure).:tth::tth::tth:
Don't get me started on this crap. I am having a hard enough time just paying my mortgage. Fuck Chrysler, GM, AIG and the rest of them, I did not put them where they are and I don't want to pay for their failure.
My home equity is going down.
My property taxes are still going up.
My income this year and last has suffered.
Throw them all under the fucking bus, they deserve it. I got my own worries.:tth::tth::tth:

I AGREE :thumbs::thumbs:

 

[turtlevette]

Who did shoot JFK anyway's?

The CIA hired the Mafia to do it.

CIA had nothing to do with it....Italian mob all the way, it was over the Vietnam thing, and popularizing drugs into middle class American kids....

which is the REAL reason we went into Vietnam anyway....SE Asian Opium dens...make drugs available in a demoralizing war we refused to win, and the kids damn well knew it....

it goes back to a generational change in the Italian Mob with the youngsters having no moral/religious problems with dealing drugs....the oldsters did, but they went to jail or died off...so the turnover in leadership brought a interest in making drugs popular, went FAR beyond just a French connection type thing.....

the older Irish mob....like Papa Joe Kennedy's group, were dead set against any drug trafficing involvement....well, so was JFK, and he was going to shut down the Italian mob with the Bobby Kennedy intrusion into the mob finances....heading off the drug war before it started....

so it was open war, and they brought in hired assassins....

Oswald was a patsy.....set up...

This thread is about the car companies. Why the hell does every damn thread in this place go off topic........ little eva.?

I know old farts like to tell a lot of stories over and over and over but get a grip man.

Now Mark can ban me for being mean again.

 

[kwplot34]

You guy's just need to quite watching,and listening to the news so much and throw away the newspaper. then all this non sense won't get to you so much.
I have enough problems of my own with listening to all the problems in the new's.
All of my investments are not worth a shit any more,my farm is not making a profit,it cost me more to grow and harvest a product than i get paid for it when i sell it, and the farm bill is going away and that is the only thing keeping my farm a float, and my farm and equipment is paid for,i own it all no loans.

 

[Twin_Turbo]

Now Mark can ban me for being mean again.

WTF is your fascination with me banning you? Is it some kind of fetish? I haven't banned anyone, you make it like I'm the banningest admin ever.

Oh, and you spelled my name wrong! :crap:

 

[turtlevette]

I haven't banned anyone, you make it like I'm the banningest admin ever.

Profile Infraction 10-17-2008
05:05 AM Expired 1 Insulted Other Member(s) Twin_Turbo
Profile Infraction 10-16-2008
01:40 PM Reversed 1 Insulted Other Member(s) Twin_Turbo


I guess its a fetish of yours.

As much shit as i shoveled out at DC and CF i never got banned there. I had to come here and get banned by a "friend".