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The Stock Room page 30 |
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(Continued from page 29) apppro’s take for 09/05/2011 @08:00 am EST: Semi-homemade Housing Mess?
On a day when our markets are closed for Labor Day and the rest of the World’s financial markets are tanking from the Obama effect, let’s take a look at some reasons for this recent stretch of stupidity. For a whole host of ridiculous reasons, Obama wants to blame the banks for our mess. OK, extortion and blackmail can get you only so far, but with his speech on Wednesday – no Thursday on how to create confidence and jobs; well he’ll need everything he can get. Personally, I have totally LOST any confidence that this President can restore any of the Nation’s lost confidence, least alone create any jobs. But let’s really take a look at one of the real causes of our semi-homemade housing mess. Andrew Cuomo and Fannie and Freddie, How the youngest HUD secretary caused the mortgage crisis
New York Andrew Cuomo and Fannie and Freddie - Village Voice And I live in his paranormal State!
BTW: On the ‘Obama effect’… LAWYERS—what do you expect! And I thought a President’s job was to bring people together! Guess I just don’t get it. _______________________________________ apppro’s take for 09/04/2011 @09:00 am EST: “Fool me once…”
I just love this headline:
FHFA sues 17 banks for misleading Freddie, Fannie, Bloomberg says theflyonthewall.com Sat, Sep 3
Wait a second, you’re telling me that 17 banks from all across the world came up with exactly the same set of multi-year schemes to supposedly cheat Fannie & Freddie? Besides from that really ridiculous premise, didn’t Barney Frank’s
1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to a sale. Read more: http://www.investopedia.com/terms/d/duediligence.asp#ixzz1WzMhsFlh
I really don’t think anyone out there truly sees just how much destruction to our economy and National psyche this continuing mortgage saga has done. I take special issue with
Earlier, and still current, with the verb deceive. For Who deceives me once, God forgive him; if twice, God forgive him; but if thrice, God forgive him, but not me, because I could not beware. The Italians having a Proverb, He that deceives me Once, it's his Fault; but Twice it is my fault. He that deceives me once, it is his faul[t]; if twice, it is mine. The important thing in dealing with the Japanese is not to believe everything you hear. Or, as the saying goes: Fool me once, shame on you. Fool me twice, shame on me. You know the old saying, ‘Fool me once, shame on you; fool me twice, shame on me.’ How does that apply in the aftermath of the Sept. 11 act of war against our country? ‘Did you give him any?’ ‘No. I wouldn't be so daft. You know that old saying? He that deceives me once, shame fall him; if he deceives me twice, shame fall me.’
_______________________________________ apppro’s take for 09/03/2011 @09:00 am EST: How to restore confidence and create jobs – NOT! Part 2 & Beyond
And I thought the insanity by the Obama administration of trying to kybosh the AT&T/T-Mobile merger deal was the final nail. Boy was I wrong! Now your Prez has decided to sue the very companies we supposedly had to bail out 3 years ago and that we NOW will desperately need to depend on to help bail out the economy today. Plus, I know you all have short memories, but the administration is suing Bank of America (among others) thru their Merrill Lynch division—exactly whom the prior administration forced BoA to buy back in 2008 in order to save the economy back then, all because of these VERY same mortgages! Is everyone nuts! The market on Friday wasn’t responding to crappy job #’s – ZERO – it was already responding to the news releases that the FHFA was suing the major banks over Fannie & Freddie mortgages. More blackmail and extortion money’s that will serve NO one any good, but instead will further undermine the economy and the nation’s confidence level. Just a disgrace. Just listen. The Prez’s supporters claim that there are those that want the economy to remain bad just so that he won’t get reelected. Barack Obama Supporters Say The Tea Party Wants Things To Remain Bad - Video Results
Sorry Mr. Prez – this time you’re doing it all by yourself! Look, I’m scared to death over the Tea Party insanity, but now this President has totally lost any support I had left for him… if not my respect, too! How about some SIMPLE & EASY solutions to fixing some of the economy that BOTH political sides will agree to!
To create stimulus & jobs without increasing the deficit: · Federal Reserve should SELL some ‘bloated Treasury’s’ and BUY State and local infrastructure bonds at a 2 for 1 to private sector ratio. · Treasury should sell some ‘useless gold’ and do the same. Fix housing: · Have ALL banks contribute to a (blackmail) fund of $20 to $30 billion – maybe base it on a % of TARP money’s they got – and this fund would be used to refinance, modify, whatever delinquent homeowners. AND ALL BANKS GET IMMUNITY FROM ANY AND ALL FURTHER CLAIMS OF ANY KIND! The insanity MUST END NOW! Most of all: STOP THE INSANITY NOW! Revised Tax Rules: 1. Capital gains 5+ years* - 5% tax on capital gains 2. Capital gains 2 > 5 years* - 15% tax on capital gain 3. Capital gains 1 > 2 years* - 35% tax on capital gains 4. Capital gains 6 > 12 months - 45% tax on capital gains 5. Capital gains under <6 months - 55% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund. *Anyone whose main source of ‘income’ (retired persons excluded) that comes directly from capital gains, should be taxed at never less than the 1>2 year 35% rate—no matter what the cg term length. The 5 Golden Rules 1. Immediately, reinstate the Up-Tick Rule. 2. Crack down on naked short selling. Require stock certificate #'s when a short sale needs to be covered, including ETF’s. a. Stop the shorting of ALL ETF’s. This is just legalized naked shorting—makes no sense. 3. Institute some rules on how the media ’reports’ news in order to prevent rumor-boarding. Not censorship… just sensibility & responsibility. 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund! 5. Have ALL ETF’s trade on a 20-minute delayed basis. Get these instruments of mass destruction back to what they were supposed to do: mimic mutual funds. NO pre or after market trading. Have a nice holiday weekend everyone. Yeah right! _______________________________________ apppro’s take for 09/02/2011 @07:00 am EST: The Final Nail in OUR Collective Coffin!
Is our President totally nuts? Is he really looking to TOTALLY DESTROY what little is left of our banking system? Has he lost his mind?
Sept. 2, 2011, 5:02 a.m. EDT U.S. said ready to sue big banks over mortgages This is NOT how to restore confidence and fix the housing market! Already this is tanking the financial markets and will eventually totally destroy any possibility of OUR economy NOT going back into a total recession, or in this case it will be a DEPRESSION! What is wrong with all of us? _______________________________________ apppro’s take for 09/01/2011 @08:00 pm EST: ‘Robo-schmobo’ and the facts of life!
From the very beginning I shouted that ‘robo-schmobo’ was really just SOP (standard operating procedure) and that we should fix the procedures, but opening up the can of worms that it entails would serve NO one any good. No one listened! Now over 1 year later we are still trying to extort monies out of what is left of our banks leftover from ‘The Shorting of America’ era of 2008/09. We are again serving NO one any good. At least NOW someone else is seeing the truth. Read this article over. I’m not sure this is what the author was trying to get across, but the obvious fact is that ‘robo-schmobo’ has been going on for decades… that it had NOTHING to do with subprime loans… has NOTHING to do with the current economic mess (Except for extending it that is.)… AND has everything to do with the Obama administration trying to extort money’s out of the surviving banks and a media that is just hell bent on bringing on Armageddon!
We are opening up a can of worms that NO one will want to kick down any road. Why the White House and Congress are so oblivious to this is a question we all should be screaming about! (Continued on page 31) |
