I say we just sweep up the shores a little, maybe filter a couple of lakes and if we have enough in the budgit we should throw a coat of paint on the rockies and then flip this bitch.
^ I thought that was a legit question that I asked.
Whatever.
my bad, i thought it was sarcasm.
as a real response, it isn’t realistic to think that you can insure for ALL losses like this. besides, even if you could, the insurance industry would collapse with the volume of claims.
So then they took a bad risk too.:gotme:
I have insurance based on volume of business so it would seem they need to have enough insurance too.
That would make too much sense so it probably isn’t true.:biglaugh:
of course they took a bad risk - that is PART of my point!!!
banks miscalculated
individuals miscalculated
the entire framework of financial institutions selling packaged mortgage products on the secondary mortgage market miscalculated
now we all have to deal with the mess
however, i should reiterate that it would be impossible to insure against the losses of such ridiculous magnitude that were incurred by many banks.
I am going to sign-off for now and call W to see if he will help pay for any bad decisions/risks that I may make with my company.
Wow, so much ignorance in this thread. I jumped in late.
The errors here were both obviously made by both banks and consumers. In the current state, one of the 2 has to lose. It’s the nature of the problem. They’re both losing right now.
A solution that buys flexibility, like this, is in the economy’s best interest. The lenders aren’t in a position to provide it. All they can do is foreclose, where everybody loses. The government has the flexibility to take over service of the loans, keep the FI’s afloat, work out payment plans that avoid negative equity foreclosures, and free up some flow in the economy. FI’s can’t do that.
thats not the point, you are being quite ignorant.
you have to deal with reality. i am sure that your company wont benefit from a long recession with stagflation, rising utility and consumer goods costs, and decreased consumer spending.
but, if you want to just sit around and say “well, i didnt screw up, so i shouldnt have to pay for it” then go ahead and do that. but all you are doing is throwing an immature “if i close my eyes and sing loudly, i wont see it and wont hear it” temper tantrum… you cant deal with what you would like reality to be, you have to deal with what reality is.
This sucks, I was really hoping to start buying foreclosed houses up, and flipping them. I don’t know if anyone has been to the bankruptcy court downtown, but man there are some killer deals out there. I almost bought a cabin in allegany, PA for 4500 site unseen just because I could.
Anyone want me to pay off their 35K loan on a 90K house and rent it to them for 1K a month so it doesn’t get reposed?
OK you want to call names?
You are naive and wet behind the ears.
The banking industry is one of the most corrupt AND profitable industries and you think we should bail them out?
Maybe when you are my age you will be tired of paying for ignorance and corruption.
Wake up and smell the coffee kid.
LOL
so your age qualifies you to have a further understanding of the vast knowledge and corruption of the banking industry?
and my age necessitates that i am “wet behind the ears”???
get a clue, grandpa! :lol:
if everyone were as foolish, short sighted, conservative, defensive, and protectionist as you, the economy would crumble as would whatever business you claim to run. bottom line is, if the financial institutions fall, or are damaged due to a long recession, it will take many small, medium, and large business with it.
but what do i know. im only a CPA. ive never studied this shit. im so young and wet behind the ears.
can someone bring me a bottle and pacifier, and get awdrifter some depends and a conspiracy theorist science fiction book??? :lol: what a joke :bloated:
Stick to metal.
This is like people with horrible credit who want that new car.
“I don’t care about how long I pay, I just want a new car. Tell me what my monthly payments are.”
You’re only 38…?
:lol:
which makes his irrational rant that much more laughable. at least i have logical coherent thought processes that help me formulate my thoughts into a sensible argument.
so true its scary
No actually you’re right, it is not my age it is my experience.
You can “study” all you want.
How long have you been a CPA?
What CPA firm are you with?
Are you a partner?
If you would like to compare real world business experience I would be glad to.
oh, boy down to your real world experience, being the president of some hydraulic company!!! seriously, can i have your autograph??!?!!!?
im sure all your experience with pumps and machines and whatnot have qualified you to spout unsupported “big business and the government are out to get me” conspiracy theories. i am sure you are good at operating your business, but hydraulic pumps and operating that business hardly provide you anything close to a glimpse of the mass of iceberg below the surface. you clearly have only been staring at the tip.
the funny thing is, there is reality, what actually happened with the subprime meltdown, and then there is whatever ridiculous world you are living in. if we applied your economic policy to the situation, the economy would melt down.
yours is a world of absolutes and paranoia. apparently an overinflated sense of self worth as well comes along with that package deal.
the problem with people like you is you sit around and say “its not MY mess, its not MY mess, WAAAH WAAH” and cry like a baby. then you sit around and bitch while other provide solutions and you shoot them down with no factual basis to do so, your only support being evidence you have gathered from your limited manufacturing world.
what cpa firm DID i work for? one of the big four firms, you need not know specifics. you seem like a psycho, and frankly i have no need for losers like you hunting me down with your radical ideas and loose canon personality.
:gay3:
Holy insecurity.
You are the one that thought the CPA comment was your trump card.
Wow you know how to fill out 1040EZ faster than anyone.:rolljerk:
You are Donald fucking Trump!
Yeah, I’m just a pump mechanic.:roll2:
You should really shut your pie hole until you at least know a little about what you are spouting off about.
Go back to your cubicle, troll.