Re: worst dow-jones drop in inauguration day history
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">if ahome onwer has amortgage which is being serviced the mortgage should remain in place no need for requalification. </div></div>How about when millions of those good paying home owners loose their jibs?
Now they loose their homes,but because of the high unemployment, there are nobody to buy them. So the bank have ti service them I mean heat them in the winter or loose millions or probably the buildings due to ruptured pipes that send the water bills through the roof. national accounting is rough. you cant just make decisions without looking at the multiplier cost. Sometimes it is more profitable to keep thongs as long as it takes to smoothly change it.Of you board up a house on Jamaica the plumbing wont destroy it.If you do here you have to make sure you evacuate all water and cut it from the mains so that ho one open the tapa an cost the property to freeze and then flooded.
Re: worst dow-jones drop in inauguration day history
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: evanovitch</div><div class="ubbcode-body">oh yes...it is gwine to be depression era banking collapse...fi real...dem still naw tell di troot bout di banks...fi real....i am surprised dat odda countries not suing di US given dat dem was led dung di rose-coloured path wid di assurances re dem repackaged loans....China still a bringle bout alll weh dem was encouraged to tek awn </div></div> <span style="font-size: 11pt">
It is a depression and nothing thry havre done or planned is foing to result on a turn around. What thry will do so far is to slow the slide and help the people to adjust to the new lows.
They have been using politics instead of economic principles to run the economy. And it is all the way to the banking sector.
Thec US economy is being run in a similar way as diring slavery.
It is a slavery or plantation economics that has been introduces since ronald Reafan. this policy us based on frowing the wealth od preperty pwners at the expenses od all workers.
Thatr is what led us to the housing and stock bubbles. They belueve that as long as they can grow the m9o9ney in these areas,the country will be wealthy. It is so far from any enconmic porincilles.
It is oppositeto the first law[of supply and demand. </span> </div></div>
i will agree that a lot of wat ails us and a lot of wat has been allowed to happen, r definitely attributable to RR's policies
Re: worst dow-jones drop in inauguration day history
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"> they foolin around ..they need to wrap up some of these banks Finsac style </div></div>
Paulson and others have floated the idea of creating <span style="font-family: 'Arial Black'">Bad Banks</span>!
Re: worst dow-jones drop in inauguration day history
Another Negro gets a Suicide Mission...yeah!
<a href="http://www.huffingtonpost.com/2009/01/21/dick-parsons-to-become-ci_n_159852.html" rel="nofollow" target="_blank">
Dick Parsons To Become Citigroup Chair
<span style="font-style: italic">January 21, 2009 05:29 PM EST |</span></a>
<span style="font-family: 'Courier New'">NEW YORK — Citigroup Inc. said Wednesday that board member Richard Parsons _ the former CEO of Time Warner _ will be taking over as chairman.</span>
<span style="font-style: italic">The Daily Beast
Charlie Gasparino
January 22, 2009 12:09 PM </span></a>
<span style="font-family: 'Courier New'">In early 2008, just as Merrill Lynch CEO John Thain was preparing to slash expenses, cut thousands of jobs and exit businesses to fix the ailing securities firm, he was also spending company money on himself, senior people at the firm say.
According to documents reviewed by The Daily Beast, Thain spent $1.22 million of company money to refurbish his office at Merrill Lynch headquarters in lower Manhattan. The biggest piece of the spending spree: $800,000 to hire famed celebrity designer Michael Smith, who is currently redesigning the White House for the Obama family for just $100,000.
The other big ticket items Thain purchased include: $87,000 for an area rug in Thain's conference room and another area rug for $44,000; a "mahogany pedestal table" for $25,000; a "19th Century Credenza" in Thain's office for $68,000; a sofa for $15,000; four pairs curtains for $28,000; a pair of guest chairs for $87,000; a "George IV Desk" for $18,000; 6 wall sconces for $2,700; six chairs in his private dining room for $37,000; a mirror in his private dining room for $5,000; a chandelier in the private dining room for $13,000; fabric for a "Roman Shade" for $11,000; a "custom coffee table" for $16,000; something called a "commode on legs" for $35,000; a "Regency Chairs" for $24,000; "40 yards of farbric for wall panels," for $5,000 and a "parchment waste can" for $1,400.
Read the whole story here.</span>
Re: worst dow-jones drop in inauguration day history
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">[How about when millions of those good paying home owners loose their jibs? </div></div> how will the proposed action aggravate the job loss situation?
When its hot in the jungle of peace I go swimming in the ocean of love.....
Re: worst dow-jones drop in inauguration day history
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">[How about when millions of those good paying home owners loose their jibs? </div></div> how will the proposed action aggravate the job loss situation? </div></div>As the
ecocomy shrinks due to job losses,the demand for products and
services that could be affirded by these newly unemployed will
also shrink, and this happens in a ever expanding loop, only
unorthodox banking strayegy,or a divergence from the normal
sound banking strategy will make it return to strength. that uis
why you need management that has a sound understandung of national accounting.
it is not rocket science,nor is it common sense.
it is economics,real ecinimics.
not the thrash being commonly oaraded as economics.
Re: worst dow-jones drop in inauguration day history
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">[How about when millions of those good paying home owners loose their jibs? </div></div> how will the proposed action aggravate the job loss situation? </div></div>As the
ecocomy shrinks due to job losses,the demand for products and
services that could be affirded by these newly unemployed will
also shrink, and this happens in a ever expanding loop, only
unorthodox banking strayegy,or a divergence from the normal
sound banking strategy will make it return to strength. that uis
why you need management that has a sound understandung of national accounting.
it is not rocket science,nor is it common sense.
it is economics,real ecinimics.
not the thrash being commonly oaraded as economics. </div></div>
yes doc ..but yoour post suggest that any move to wrap up insolvent bank woudl soemhow aggrevate the current situation ....what im suggesting could be classified as "unorthodox banking strategy"
When its hot in the jungle of peace I go swimming in the ocean of love.....
Re: worst dow-jones drop in inauguration day history
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">[quote=Dr.Dudd][How about when millions of those good paying home owners loose their jibs? </div></div> how will the proposed action aggravate the job loss situation? </div></div>As the
economy shrinks due to job losses,the demand for products and
services that could be afforded by these newly unemployed will
also shrink, and this happens in a ever expanding loop, only
unorthodox banking strategy,or a divergence from the normal
sound banking strategy will make it return to strength. that is
why you need management that has a sound understanding of national accounting.
it is not rocket science,nor is it common sense.
it is economics,real economics.
not the thrash being commonly paraded as economics. </div></div><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD
yes doc ..but yoour post suggest that any move to wrap up insolvent bank woudl soemhow aggrevate the current situation ....what im suggesting could be classified as "unorthodox banking strategy" [/quote</div><div class="ubbcode-body"> Wrapping up insolvent banks is not just normal but it is conservative banking strategy.
Theris a big difference from the applied economics perspective and the conservative banking strategy.
Conservative strategy assume that actions taken diors not create new less manageable problems.
While applied economics treat every act as the beginning of a trend.
your proposed solution is classic conservative banking. you see the bank as a problem,you close it and that's that.
Some bad banks are more beneficial to the economy than good banks ina climate where the economy is dependent on excessive loans to function. you simply cant allow the economy to collapse, if you are responsible.
nothing in any economy is worth the collapse of the economy. no bank,no amount of money.
Since economic collapse renders everything lost and of no value or benefit to any member of the conomy.</div></div>
Re: worst dow-jones drop in inauguration day history
but dc the reson for the credit freeze as i understand it is the banks dont even trust each other and a doubtful of their solvency ..so if you replace them with institutions that are more capable and free to lend would that not help the unfreezing?
When its hot in the jungle of peace I go swimming in the ocean of love.....
Re: worst dow-jones drop in inauguration day history
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">but dc the reson for the credit freeze as i understand it is the banks dont even trust each other and a doubtful of their solvency ..so if you replace them with institutions that are more capable and free to lend would that not help the unfreezing?
</div></div> that is the classic way to look at it,but applied economics view is,to look beyond that obvious act.
and on examining it you will discover that if the banks thought that loans after being on-lend to customers will likely be paid,that woylf not be a problem to them.
So what they are really saying is that they expect the loans to be defaulted by the customers.
That is why they still did nit lend the money they recieved, Since they could still use the rebound to find their other mergers if they expect the economy to turn around.
<span style="font-family: 'Courier New'">GE Profit Falls 46%... Google Profit Falls For First Time... Microsoft's First Mass Layoffs Ever... Sony Forecasts $1.7B Loss, First In 14 Years</span></a>
Re: worst dow-jones drop in inauguration day history
<a href="http://www.washingtonpost.com/wp-dyn/content/article/2009/01/23/AR2009012304172.html?hpid=topnews" rel="nofollow" target="_blank">
World Economy Deteriorating Faster Than Expected</a>
<span style="font-family: 'Courier New'">Obama Plans Sweeping Overhaul Of Nation's Financial Regulatory System... Friday: Obama Hears GOP Leaders' Ideas On Economy... Today: Offers Proposals In Stimulus Plan That "Appear Designed Specifically To Attract Republicans"... This Tuesday: President To Meet With GOP Leaders On Capitol Hill</span>
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