"Home Sales Rise, factory Orders Up"

[RCSConstruction]

Re: "Home Sales Rise, factory Orders Up"

You bring up a very good point, and the answer is absolutely no. However a very hard investigation should take place to look for improper lending violation's, vigours persecution if any thing is found and absolutely no bail out's. Let the ax fall where it may and accountability lye in the lap's of the mover and shaker's, that is the only cure for this kind of thing..

To those who played by the rule's, they have made there money in a legal fashion under the full scrutinity of the law.

Zactly!!!!!!!

 

[OldMercsRule]

Re: "Home Sales Rise, factory Orders Up"

You bring up a very good point, and the answer is absolutely no. However a very hard investigation should take place to look for improper lending violation's, vigours persecution if any thing is found and absolutely no bail out's. Let the ax fall where it may and accountability lye in the lap's of the mover and shaker's, that is the only cure for this kind of thing..

To those who played by the rule's, they have made there money in a legal fashion under the full scrutinity of the law.

TG, It's gonna be hard fer ya to find anybody fer you to vote fer that thinks similar to you if ya never vote Republican again. I agree with ya: NO BAILOUT.

I don't know if ya know who Bill Gross is, (he is the most famous bond portfolio manager on this particular planet). I and most financial types have read his stuff fer years, (the letter he sent to his fund holders IS VERY INTERESTING AND ASSTUTE, as Bill Gross is as knowledgable as anyone in bonds). I don't know how he stands politically, (never have paid attention) but after his selfish: send checks to speculators who helped cause the problem he is either a Dem or a very self centered Republican. The thread is below. Respectfully JR

http://forums.iboats.com/showthread.php?t=217246

 

[Tail_Gunner]

Re: "Home Sales Rise, factory Orders Up"

Personally i believe they just took a look at the automotive subprime market and how it yeild's, took it and tried to run with it in the housing sector. But there was one very big difference the potential risk of loss was enormous and the guide line's were crazy hell not even present. In a auto subprime line a person is only allowed a payment between 10 and 15% of there income and not to tip there DTI to more than 40% along with a solid proof if income and job stability...........I cant even imagine how any lender would allow a how purchase on STATED INCOME that is no proof only what the consumer state's ohh and arm that give's a low payment for 3-5 year's so they fall under the DTI guide line's....man....

One thing's for damm sure, anyone who set these program's up did not use there own capital that i assure you..

 

[OldMercsRule]

Re: "Home Sales Rise, factory Orders Up"

Personally i believe they just took a look at the automotive subprime market and how it yeild's, took it and tried to run with it in the housing sector. But there was one very big difference the potential risk of loss was enormous and the guide line's were crazy hell not even present. In a auto subprime line a person is only allowed a payment between 10 and 15% of there income and not to tip there DTI to more than 40% along with a solid proof if income and job stability...........I cant even imagine how any lender would allow a how purchase on STATED INCOME that is no proof only what the consumer state's ohh and arm that give's a low payment for 3-5 year's so they fall under the DTI guide line's....man....

One thing's for damm sure, anyone who set these program's up did not use there own capital that i assure you..

I dunno TG, many times wiz kids n' big players do actually put their own money in. Please don't assume they, (who ever THEY are), intentionally set out to screw people or things up, I don't believe they do, (so we will have to agree to disagree).

We are both salesmen, n' I don't know about you but my field, (securities) was so wide open I could sell anything I choose to sell. I never sold anything that I did not believe in, (but after a very few years in the business I was sufficiently spanked by the market or other factors unknown when I bought X [to figure out I really did have only one brain cell as me Bro has correctly observed]).

I carefully evaluated CMOs (Collateralized Mortgage Obligations), when they first came out in the early 1990s, (I think Soloman Bros did the first deal). I had an edge on most the other brokers in me office as I had five years of lending 'sperience n' knew of the weaknesses, (unintentional IMHO), in the loan process from first hand 'sperience. I decided that it was impossible to decern the ultimate risks of these CMO's n' NEVER bought a single one fer any client of mine (solicited), that I can remember. It was not long 'till the wiz kids did it with credit cards n' auto loans et al.

Bill Gross is whinnin' about the problems of investin' Billions of $ in a competitive market. If he did not learn n' master CMO's, (very cormplicated n' impossible to know how sloppy each loan was), he would not be able to keep pace in a bidness where performance is EVERYTHING. The risks I could avoid as a lowly retail Stock Broker fer me clients n' me own portfolio he could not avoid. That is why he wants King George to cut checks n' bail out the perps to save his sorry arse, or his performance. DISGUSTIN', I say!!!

LET 'EM LEARN THE HARD WAY! I hope the whole system doesn't blow up, but if it does, it was ment ta be. Capitalism is brutal, but the best system we have. If we fix all the wrongs the eventional day of reckoning will be VERY VERY bad!!! IMHO! (Only one brain cell). My $.02, JR

 

[RubberFrog]

Re: "Home Sales Rise, factory Orders Up"

So TG thinks it is the lenders fault if the borrower lies about his income on the application... talk about creating victims....

RCS... who knows where he's coming from... he has apparently predicted all the bad news but didn't tell anyone until after it happened.....

Haut... this guy is just F'in with everyone....

Nobody (except murky) has any sort of financial education beyond econ 101/102....

Who was it that said creditors were bad for the economy? Are you kidding me?!?!?! How do you think the securities markets work? The whole point of a market is to bring those with funds to those who need funds! (That's called credit if you're still to stupid to understand).

 

[Tail_Gunner]

Re: "Home Sales Rise, factory Orders Up"

FROG

So TG thinks it is the lenders fault if the borrower lies about his income on the application... talk about creating victims....

TG

I cant even imagine how any lender would allow a how purchase on STATED INCOME that is no proof of income, but only what the consumer state's ohh and arm that give's a low payment for 3-5 year's so they fall under the DTI guide line's....man....

Hmmm i would say we have a noobie here, but im going to just guess and assume someone just over reacted. Frog when one use's stated Income one also pay's a high rate of intrest...... umm risk mgmt?? It was designed and structured with doubt in mind i know of no other lending instrument that allow's you such grace.........Or do you think they just wanted to reward the lender with a point of intrest because there were so grateful............


Frog: (That's called credit if you're still to stupid to understand).

Well i do understand those type's of lending practice's are currently being scrutinized and outlawed........now why, because it may have created a very.....no it has created a terribile problem and one that has only begun

Sniff Sniff.... Good god man hold that stuff woulda ya...

 

[RCSConstruction]

Re: "Home Sales Rise, factory Orders Up"

RCS... who knows where he's coming from... he has apparently predicted all the bad news but didn't tell anyone until after it happened.....

I am 35 years old and work IF I want, WHEN I want... I own everything I have outright..... If I would have came to this forum a year ago and said the sky was falling, I would have have been laughed at.
All you had to do was ask...........Don't be a H8ter.

 

[RubberFrog]

Re: "Home Sales Rise, factory Orders Up"

...work IF I want, WHEN I want... I own everything I have outright.....

Sounds just like ANIMAL!

Don't be a H8ter.

I ain't hatin on ya bro! We're just exchanging ideas.