Go Back   TeamTalk > General MasterCraft Topics > General Discussion

Reply
 
Thread Tools Display Modes
  #11  
Old 10-14-2008, 11:33 AM
TMCNo1 TMCNo1 is offline
MC Hero
 
Join Date: Jul 2005
Boat: Gone
Location: Gone
Posts: 22,134
Quote:
Originally Posted by JimN View Post
They still loaned to qualified people but when they loan to people who wouldn't normally have a snowball's chance in He!! of getting one, the wheels are bound to fall off. Financial types are always referring to applicants as a "credit risk" of one kind, or another. They could have just gone on as usual and only loaned to people who were low risk and would pay the loans back on schedule but Noooooooo! Franklin Delano Rains had to come up with some bullshnit plan to put minorities in homes they couldn't/wouldn't pay for on a regular basis because not loaning to them was "racist". Why anyone listened to him, I don't know. They should have just told him to F-off.

Part of the problem is that when some sheep bleat, others listen and believe it. This is a major problem when the sheep whose bleating has the most clout know that they can actually affect the stocks they talk about in a way that benefits them directly. I used to own Harley Davidson stock and after years of great management, earnings, sales, investments, profits and just about everything else you could want a company to do that will keep it healthy and the stock price rising, some knob says that he doesn't think they can continue in that way for much longer. This had the immediate effect of dropping the stock price by over 10% in one day even though all of the other "experts" had just upgraded or reiterated that it was a strong buy. It's almost like it was a stock they loved to hate, or they knew they could drop the price in order to buy a large amount when others were selling low.
The credit/loan industry has been loaning money to unqualified/qualified car buyers for decades, and the buyers have been upside down since day one on a $20K car, so why not $300K homes, just repossess and sell the property again just like cars, but it didn't work!
__________________
Charter Member Number 1

Quote: 2RLAKE,
At some point in time people need to wake up, remove their cranial intrusion into their own rectal areas, and take responsibility for their own actions.




Reply With Quote
  #12  
Old 10-14-2008, 11:40 AM
TX.X-30 fan TX.X-30 fan is offline
MC Platinum
 
Join Date: Sep 2006
Boat: mastercraft, X-30, 2004, MCX.
Location: Lake Travis
Posts: 9,632
Quote:
Originally Posted by TMCNo1 View Post
The credit/loan industry has been loaning money to unqualified/qualified car buyers for decades, and the buyers have been upside down since day one on a $20K car, so why not $300K homes, just repossess and sell the property again just like cars, but it didn't work!




It was not tried.
__________________
___________________________________________


________________________________

Quote:
Originally Posted by bturner2 View Post
Myself I'll live on the edge and surf without a helmet.
Reply With Quote
  #13  
Old 10-14-2008, 02:06 PM
JimN's Avatar
JimN JimN is offline
MC Master Poster
 
Join Date: Jul 2004
Posts: 13,876
Also, banks aren't in the business of owning homes. Some now have real estate departments, but this is out of necessity, rather than by design. Normally, I think that would look like a conflict of interests (no pun intended) but this basically amounts to throwing buckets of money on a fire in an attempt to put it out. First of all, Frank Rains needs to be beaten, buried up to his neck next to an ant pile and covered with honey. Barney Franks can be buried with him, slightly below and in front, facing him. Chris Dodd is a POS and needs to be dealt with.

The real problems are:

Rains wanted to look like a hero to minorites.

Rains, Franks and Dodd are lying POS's.

Congress sucks and couldn't do the right thing when money is concerned if their lives depended on it, which is pretty stupid, really.

Re: the previous reason, THE VOTERS don't hold Congress' feet to the fire, mainly because they don't want to learn how it's supposed to work, why it's not working and what it will take to fix it.

Congress is full of people who were in college during the '60s and many were involved in protests, civil disobedience and thought they knew everything about the system. They wanted to do exactly the opposite of what "The Establishment" told them to and are now trying to implement their ideas from that time. Trouble is, it's 40 years later and what we need now isn't what we needed then. The views of some in Congress have changed, but they are far from what they thought they would be when they were in school.
Reply With Quote
  #14  
Old 10-14-2008, 05:48 PM
bbymgr's Avatar
bbymgr bbymgr is offline
MC Devotee
 
Join Date: Dec 2007
Boat: 1980 S&S
Location: Lake Norman
Posts: 1,445
Quote:
Originally Posted by JimN View Post
Congress is full of people who were in college during the '60s and many were involved in protests, civil disobedience and thought they knew everything about the system. They wanted to do exactly the opposite of what "The Establishment" told them to and are now trying to implement their ideas from that time. Trouble is, it's 40 years later and what we need now isn't what we needed then. The views of some in Congress have changed, but they are far from what they thought they would be when they were in school.

Can we have an AMEN!!!!!
__________________
"In conflict, straightforward actions generally lead to engagement, surprising actions generally lead to victory."

Six in, Six out.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 08:47 PM.


2020