Chief Spreading Bull

Discussion in 'The Dungeon' started by lrrs517, Nov 28, 2017.

  1. cpettit

    cpettit Well-Known Member

    As the Leader, I would say he at least speaks for his tribe.
     
  2. Mongo

    Mongo Administrator

    :stupid:

    And that article supporting the CFP and Warren is hilarious. 12 billion the banks and cc companies ripped off of people? How about the 12 billion the fucking idiots shouldn't have pissed away when they couldn't afford it?
     
  3. G 97

    G 97 What's my name

    Damn lending institutions putting guns up to the heads of all the poor college students and forcing them to take out student loan after student loan in order to finance their life styles while going to college. They need to be punished.

    Same goes to all those mortgage refinance companies that forcibly made all those poor people take out home equity loans to finance them living above their means. They need to be punished.
     
  4. Mongo

    Mongo Administrator

    I still love how the problem is they made it too easy for fucking morons to get loans.
     
  5. G 97

    G 97 What's my name

    No such thing as personal responsibility. The libs push this all the time. Only bigger government and increased social programs can save you.
     
    crashman likes this.
  6. HPPT

    HPPT !!!

    At least as much as the guy who was decorated in the Oval Office.
     
  7. In Your Corner

    In Your Corner Dungeonesque Crab

    You may also have an uncomfortable familiarity with Wellingtons...
     
  8. sheepofblue

    sheepofblue Well-Known Member

    Baa means no! you liberal freak!
     
  9. crashman

    crashman Grumpy old man

    But everyone "deserves" to own a home...
    And now the answer to fucked up government regulations is to turn to the people who made the regulations in the first place and have them make even more regulations. What is the definition of insanity again?:D
     
  10. Venom51

    Venom51 John Deere Equipment Expert - Not really

    No...not everyone should own a home. Everyone should have access to the possibility but not everyone is capable of owning and maintaining one. Some people should just rent.
     
    crashman likes this.
  11. sheepofblue

    sheepofblue Well-Known Member

    And some confined to group homes
     
  12. Chino52405

    Chino52405 Well-Known Member

    As long as we don't bail out the fuggin banks again who have been back to their pre bailout bundling tricks for the last 4 years.

    One of the biggest problems with home ownership (in my opinion) is that it is always glorified and rarely painted as the gamble that it is - nothing is actually worth anything when push comes to shove. My condo lost almost 60k in equity almost overnight which forced me to hang on to it as a rental property until I sold it earlier this year. I did finally sell at a profit, but made it through 14 years of a mortgage that I intended to have for 5 years max after watching my brothers move up the housing ladder through the 90's the exact same way.
     
    G 97 likes this.
  13. crashman

    crashman Grumpy old man

    I am fine with not bailing out banks / Wall Street. Lets include auto manufacturers too. Let the weak fail and the strong survive. IMO, there would have been short term pain but we would be in better shape now.
     
    brex and Banditracer like this.
  14. 2blueYam

    2blueYam Track Day Addict

    The government made good money on the bank bail out loans. It was the cash for clunkers and auto bail outs that really cost the taxpayers.
     
    G 97 likes this.
  15. Motofun352

    Motofun352 Well-Known Member

    Like all fiascos, we only look at the symptoms not the root cause. When the government altered the housing/lending rules to back the banking system for sketchy loans just what the hell do you think was going to happen? Take the risk out of the equation and more risky loans will be made....Of course like any bubble it will eventually burst and we're all gonna get hosed.
     
  16. GRH

    GRH Well-Known Member

    Then why is the Fed's balance sheet $4.2T? And don't tell me the Fed is an independent agency, because although it's advertised that way they are not
     
  17. sheepofblue

    sheepofblue Well-Known Member

    The problem with the bank bailout is they were not dissolved. For the countries financial stability they should have been bailed out with management removed. Then busted up and sold as had occurred on bank failures prior to that.
     
  18. Fonda Dix

    Fonda Dix Well-Known Member

    Correct. In essence they were rewarded for their scum baggery.
     
    crashman and sheepofblue like this.
  19. 2blueYam

    2blueYam Track Day Addict

    There are lots of reasons, but it wasn't from TARP (the bank "bailout"). The feds are $15B in the black from that.

    https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program

     
  20. GRH

    GRH Well-Known Member

    Smoke and mirrors
    The money came from the lender of last resort, The Fed
    This graph just shows the "toxic" mortgages that the fed purchased to keep the banks alive
    upload_2017-12-1_10-55-48.png
     

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