Like I said, you never seem to discuss anything but semantics... Anyone wonder why?
On Sep 16, 7:01 am, Hollywood <[EMAIL PROTECTED]> wrote: > Gaar, > > Guess that depends on your definition of the term "almost worthless" > as opposed to maybe "a little bit worthless" or "kinda worthless" or > "greatly reduced in value", etc. etc. > :-) > > On Sep 16, 8:28 am, Gaar <[EMAIL PROTECTED]> wrote: > > > > > I hardly think that 80% (20% loss) makes them "almost worthless", but > > obviously you have a different outlook on it... > > > Which likely explains your lack of ability to make a cogent argument > > and rather rail on about semantics, that you still can't even get > > right. > > > On Sep 16, 6:25 am, Hollywood <[EMAIL PROTECTED]> wrote: > > > > Gaar, > > > > Your right, Frank should have said "almost worthless". Picky, picky, > > > picky. > > > > On Sep 16, 2:10 am, Gaar <[EMAIL PROTECTED]> wrote: > > > > > Falling 20, 30 or even 50% does NOT make them "Worthless". > > > > > That was YOUR word, right? > > > > > On Sep 16, 12:05 am, Frank <[EMAIL PROTECTED]> wrote: > > > > > > You are such a dodo Gaar. Why are the banks in trouble? Because of > > > > > sub- > > > > > prime defaults and the devaluation in property values that NO longer > > > > > cover the amounts borrowed from the banks. Property prices have fallen > > > > > by up to 20% in some ares and will continue to fall as a glut of > > > > > property comes onto the market pushing down values further. That's why > > > > > they don't know the value of the bundled security packages, because > > > > > they consist of defaulted properties and those that have fallen in > > > > > value. The banks sell the property and still loose money. > > > > > > There is already hundreds of thousands of homes the banks can't shift > > > > > that have defaulted as well as new properties that buyers can't be > > > > > found for, putting more downward pressure on prices. The IMF expects > > > > > property prices to fall by up 30% > > > > > > Today's lesson over. > > > > > > On Sep 16, 4:53 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > > > > > Worthless? > > > > > > > You understand that Mortgages are "Backed" by the very property they > > > > > > are Financing, right? > > > > > > > Someone is going to get some Properties at some Fire Sale prices... > > > > > > > On Sep 15, 11:44 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > > > > > More US corporate bailouts on the way > > > > > > > By Barry Grey > > > > > > > 16 September 2008 > > > > > > > > The US government, brushing aside its constant invocations of > > > > > > > “private > > > > > > > enterprise,” has dispensed hundreds of billions of dollars in > > > > > > > cheap > > > > > > > loans to prop up the banks. Last March, the Federal Reserve Board > > > > > > > paid > > > > > > > JP Morgan Chase $29 billion to take over the investment bank Bear > > > > > > > Stearns when Bear was on the verge of declaring bankruptcy. > > > > > > > > Only a week ago, the US Treasury committed at least $200 billion > > > > > > > in > > > > > > > taxpayer funds in the government takeover of Fannie Mae and > > > > > > > Freddie Mac > > > > > > > —a move that makes the government responsible for the two > > > > > > > companies’ > > > > > > > combined $5.3 trillion in mortgage liabilities. > > > > > > > > The claims that the government, in allowing Lehman Brothers to > > > > > > > collapse, has “drawn the line” on further taxpayer bailouts of > > > > > > > failing > > > > > > > corporations are false. The government decided to let Lehman > > > > > > > fail, in > > > > > > > part, to conserve the dwindling funds at the disposal of the > > > > > > > Federal > > > > > > > Reserve and calibrate hand-outs from the Treasury—which faces > > > > > > > record > > > > > > > budget and trade deficits and a soaring national debt—to be used > > > > > > > to > > > > > > > rescue more strategic companies. > > > > > > > > The Fed has reportedly agreed to widen its bailout of Wall Street > > > > > > > by > > > > > > > accepting, in return for low-cost loans to both commercial and > > > > > > > investment banks, even more dubious forms of collateral, including > > > > > > > shares of stock whose value has collapsed and mortgage-backed > > > > > > > securities that can be sold on the market only for pennies on the > > > > > > > dollar. > > > > > > > > There are growing calls on Wall Street and in the financial press > > > > > > > for > > > > > > > the government to directly buy the near-worthless subprime > > > > > > > mortgage- > > > > > > > backed securities and other collapsing credit instruments that are > > > > > > > undermining the balance sheets of major financial companies. With > > > > > > > the > > > > > > > government takeover of Fannie Mae and Freddie Mac—which was > > > > > > > sanctioned > > > > > > > in advance by the Democratic Congress—the legal and structural > > > > > > > framework is in place for this wholesale government bailout of the > > > > > > > banking system.- Hide quoted text - > > > > > > - Show quoted text -- Hide quoted text - > > > > > - Show quoted text -- Hide quoted text - > > > > - Show quoted text -- Hide quoted text - > > > - Show quoted text -- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
