Freddie & Fannie Bailout

Yes. If everything is fine with Freddie and Fannie like they claim, then why wouldn’t other companies buy up their assets? The reason they will become insolvent is because of having horrible leverage ratios, not because every cent of their assets are worthless.

They’re a market maker in a market that crashed. That generally doesn’t bode well for any company’s financials.

Anyway, I had to change my avatar. People were taking that socialist thing a bit too seriously.

Gotcha Penfold. That makes sense too.

Where’s bing? He’s usually got some pretty interesting takes on this stuff.

While we’re talking about this shit, was now really a good time to jack minimum wage? Doesn’t that tend to just drive inflation higher?

There’s arguments for both sides. On one hand, it helps the people who work shitty jobs for big corporations (think walmart) keep up with the inflation. On the other, it hurts the smaller businesses with less ability to pay, and those are the ones more likely to pass costs on to consumers.

Well fuckin A. I actually learned something from an intelligent debate with no drama on NYSpeed. I don’t think that’s happened in a good, well, ever.

Imagine that. My job for next week was to reconcile $43 million in variances on our 2nd quarter income statement and somehow they all popped up in the first hour I looked at it today. That means we’re gonna need some drama on Monday. Financials just don’t have the same effect as STD’s.

:hang:

Somtimes there is “compression” too, which means people want to make more at every level because they are closer to minimum wage when minimum wage is raised.
(I am not sure I am making that clear)
In other words people at MT might say, “Well now I am barely making more than minimum wage so I want more money.”
Thus causing tacos to cost more.(inflation of taco prices)

We don’t see much of that anymore. Most of the current crop of active posters aren’t armed for a battle of wits. Don’t tell them I said that.

Meanwhile Nick has a hand-shaped bruise on his forehead from picarding all day long.

Gotcha. That makes sense too. Oh well, at least high school kids are making more beer money now. :tup:

to be clear, not at you. They’ve done a good job of bringing you upto speed on the basics.

What do you mean “they popped up”?
The variances have been reconciled?
Or they the $43 million just appeared?
Either way it should be interesting.

which brings things full circle as far as one of the roots of the problem.

Kids drink and drive and crash, their parents get sued and default on their mortgage?:biglaugh:

please tell me that you’re not serious.

I added the laugh. You’re too fast.

Yep, I can be taught. I also know sit and stay.

The funny part is I took an econ class last semester. But it was micro, and a sham of a class at that. I know how to answer questions based on where two lines cross on a graph, but I don’t know a damn thing about economics. Same thing with everyone else in a class. :picard:

You ever scroll through news.google, just skimming the headlines & snippets… and wonder when people are going to step back and read the writing on the wall?

When I started looking into the accounts for the items that were off, I found what was missing/out of place surprisingly quickly and reconciled them. Probably because I quit boozing early last night instead of staying out until 4.

Heh, yep. I believe there’s a good chance that we’re going to be the first generation in a long time to leave the world in worse shape than we found it.

Oh look, 30 years ago today the world’s first test tube baby was born.