Forum: HoseHeads Sprint Car General Forum (go)
Moderators: dirtonly  /  dmantx  /  hosehead

Where did all our money go? The $700 billion plus?

HOUSING SPECULATION... Housing speculation fueled by subprime lending practices.

http://www.msnbc.msn.com/id/21134540/vp/27087106#27087106

Why can't banks and other lending institutions just eat the ~5% default rate?

They only have a 8% capital requirement, that's why the world economic system is on the brink of collapse. (You think the rest of the world hated us BEFORE this mess...lol?)

What is to blame?

Drastically reduced lending regulation on top of historically low interest rates. Easy money knocked the real estate market out of whack.

 
 
 
They don't even know how to spell sprint car 
much less chromoly...http://www.ycmco.com

Guess Braney frank, Franklin Raines and Chris Dodd could answer that.....

Cheers!

Yeah and what about the CEO's of the companies that went under and they still got to keep there HUGE BUYOUTS!! Scum's of the earth IMO. The former employees should be able to do a public stoning of these crooks!

Trophy Cup......Best race of the year hands down!

the FBI investigation is now uncovering default mortgages to ILLEGAL ALIENS who some politicians are "AFRAID THEY WILL LOSE THEIR HOMES"!

how can someone call it THEIR HOME if they have not PAID FOR IT?

sqautter's rights for illegal aliens is coming back to bite the taxpayer ten fold...get these criminals out of the country now...and send the jackasses that offered them loans ALONG WITH THEM.

http://corner.nationalreview.com/post/?q=ZDE5M2FlZmI1YzdhN2Y1MWUxZGFiOTM1ZDEwYjMxNjg=

Tuesday, September 23, 2008 Credit Is Not a Civil Right [Mark Krikorian] I have no way of judging whether the Wall Street bailout is a necessary evil or an impending disaster. But we're in this mess, ultimately, because our political elites thought it was good social policy to encourage banks to give mortgages to uncreditworthy people, resulting in what Sailer months ago called the "Diversity Recession" (if this doesn't work, make that the Diversity Depression). In other words, if poor people in general, or blacks or Hispanics in particular, were less likely to be approved for a mortgage, the only possible reason was racism or classism or whatever. Thus "creditworthiness" was an illegitimate, dead-white-male concept, like middleclassness. Because, after all, isn't everyone entitled to credit? Therefore, I propose any bailout bill start with these words: "It is the sense of Congress that credit is not a civil right."

Lincoln 1845 ft/.35 mile T1=118MPH 
Eldora 2287 ft/.43mile T3=135MPH
Port 2716 ft/.51 mile T3=TBD
Grove 2792 ft/.53 mile T3=135MPH
Selinsgrove 2847 ft/.54 mile T1=136MPH
"I didn't move to PA from El Paso in search of better 
weather." Van May

Posted By: BigRightRear on October 09 2008 at 05:27:51 PM the FBI investigation is now uncovering default mortgages to ILLEGAL ALIENS who some politicians are "AFRAID THEY WILL LOSE THEIR HOMES"! how can someone call it THEIR HOME if they have not PAID FOR IT? sqautter's rights for illegal aliens is coming back to bite the taxpayer ten fold...get these criminals out of the country now...and send the jackasses that offered them loans ALONG WITH THEM. http://corner.nationalreview.com/post/?q=ZDE5M2FlZmI1YzdhN2Y1MWUxZGFiOTM1ZDEwYjMxNjg= Tuesday, September 23, 2008 Credit Is Not a Civil Right [Mark Krikorian] I have no way of judging whether the Wall Street bailout is a necessary evil or an impending disaster. But we're in this mess, ultimately, because our political elites thought it was good social policy to encourage banks to give mortgages to uncreditworthy people, resulting in what Sailer months ago called the "Diversity Recession" (if this doesn't work, make that the Diversity Depression). In other words, if poor people in general, or blacks or Hispanics in particular, were less likely to be approved for a mortgage, the only possible reason was racism or classism or whatever. Thus "creditworthiness" was an illegitimate, dead-white-male concept, like middleclassness. Because, after all, isn't everyone entitled to credit? Therefore, I propose any bailout bill start with these words: "It is the sense of Congress that credit is not a civil right."

you've got to admire a Soviet-Armenian immigrant advocating immigration reform!

"As long as I can have a fast boat, a margarita 
machine and can light my hair on fire, I'll be just 
fine."

Jason Giambi

I still can't get over that in the video they show $250,000 houses in Florida going for $50,000 now. Everyone seems to have a share of the blame from mortgage companies and home owners themselves to Wall St, Washington, house flippers, real estate agents and home builders. Clinton admits to shouldering some of the blame along with the Democrats, but the Republican "deregulation" Party seems to taking a brunt of the flack having controlled D.C. much of this decade. Hopefully we've all learned that the police are a necessary evil, competition is good but deregulation maybe not so much so.

 
 
 
They don't even know how to spell sprint car 
much less chromoly...http://www.ycmco.com

I blame a lack of oversight, with deregulation being the major component in encouraging preditory lending practices.

Example: Back about 1999, someone I know very well was looking to buy a house. Both were not long out of high school with one working an entry-level factory job & the other at a retailer. They were told by the bank that they could borrow up to $250,000 - A QUARTER MILLION!!! In fact, that was more than double what they could begin to afford. Thank God they went with their own best instincts!

I only wish that we could have allowed these heartless thieves to fall on their own swords.

9th Annual Northern Ohio Sprint Car Show
March 18-20, 2011
Featuring the FAST sprint cars
NOSCS Hall of Fame, and much more...
At the Tiffin Mall in Tiffin, Ohio
Official home of the Hoserville Ohio Benefit Auction