Fannie Mae another bail out ????

[Truthmatters]

You have yet to outline the impact of this "cream riasing to the top" line.


If the cream always rises it will rise without doing anything huh?

kinda ruins your own theory.

What will the job market look like six months after your plan is instituted?

 

[Truthmatters]

Not one of you knows the economic impact of your ideas do you?

 

[Truthmatters]

The right has no idea how to create policy that helps Americans

 

[bigrebnc1775]

The right has no idea how to create policy that helps Americans

And you think making it easy for people to remain of government assistance for life is good for America? Government assistance should never be a way of life it should be there for short term use and then you are cut off. If someone doesn't want to work fine that's on them. I have yet to see someone who was on welfare that tried to do better.

 

[Jarhead]

You have yet to outline the impact of this "cream riasing to the top" line.


If the cream always rises it will rise without doing anything huh?

kinda ruins your own theory.

What will the job market look like six months after your plan is instituted?

Look TM....I cant help it if you cant apply reason to my answer.

But yes...it will rise without doing anything. Government does not have to do a dam thing.

As in the ad agency example...where the govbernment did not do a dam thing....

Wait...I have a better example....

Here in NY one of the largest real estate title/settrlement firms in the country went under...Titleserv/Settlemnt Corp.....it literally happened overnight. There were unscrupulous executives who were, among other things, playing with escrow accounts.....and the feds shut them down...literally overnight.

Thousand of loans were in the mix at the time. Citibank, Wells, Chase, Bank of America.....thousands.....

What happened?

Smaller settlement firms picked up the slack....immmediately. The lenders flipped the loans to these smaller firms and they hired the employees from Titleserv/Settlement Corp. and the lending industry didnt even feel it.

SO the impact on the employment market of thousands of employees loisng their jobs overnight?

Nada.

 

[bigrebnc1775]

You have yet to outline the impact of this "cream riasing to the top" line.


If the cream always rises it will rise without doing anything huh?

kinda ruins your own theory.

What will the job market look like six months after your plan is instituted?

All the government needs to do is get out of the way and let the strong rise up and let the weak die. Now I am sure this comment will be twisted to mean something other than what I meant it to say, but in context to this discussion it means exactly what I am talking about.

 

[Truthmatters]

And what happens to our economy while those weak die?


We fall into a deep trough huh?

 

[Truthmatters]

You have yet to outline the impact of this "cream riasing to the top" line.


If the cream always rises it will rise without doing anything huh?

kinda ruins your own theory.

What will the job market look like six months after your plan is instituted?

Look TM....I cant help it if you cant apply reason to my answer.

But yes...it will rise without doing anything. Government does not have to do a dam thing.

As in the ad agency example...where the govbernment did not do a dam thing....

Wait...I have a better example....

Here in NY one of the largest real estate title/settrlement firms in the country went under...Titleserv/Settlemnt Corp.....it literally happened overnight. There were unscrupulous executives who were, among other things, playing with escrow accounts.....and the feds shut them down...literally overnight.

Thousand of loans were in the mix at the time. Citibank, Wells, Chase, Bank of America.....thousands.....

What happened?

Smaller settlement firms picked up the slack....immmediately. The lenders flipped the loans to these smaller firms and they hired the employees from Titleserv/Settlement Corp. and the lending industry didnt even feel it.

SO the impact on the employment market of thousands of employees loisng their jobs overnight?

Nada.

we are not talking one city are we?

We are talking the entire country

 

[Jarhead]

And what happens to our economy while those weak die?


We fall into a deep trough huh?

when those that fail, fail, business is picked up by those that are successful...and seeing as those that are successful have an influx of business, the need to hire additional employees.......and who do they hire to help? The employees of those that had failed.

You really need to open your mind as to how pure competition works.

Becuase of pure competition, you were able to afford the computer you are currently typing on.

 

[bigrebnc1775]

And what happens to our economy while those weak die?


We fall into a deep trough huh?

when those that fail, fail, business is picked up by those that are successful...and seeing as those that are successful have an influx of business, the need to hire additional employees.......and who do they hire to help? The employees of those that had failed.

You really need to open your mind as to how pure competition works.

Becuase of pure competition, you were able to afford the computer you are currently typing on.

So I didn't have to say it thanks.

 

[Jarhead]

You have yet to outline the impact of this "cream riasing to the top" line.


If the cream always rises it will rise without doing anything huh?

kinda ruins your own theory.

What will the job market look like six months after your plan is instituted?

Look TM....I cant help it if you cant apply reason to my answer.

But yes...it will rise without doing anything. Government does not have to do a dam thing.

As in the ad agency example...where the govbernment did not do a dam thing....

Wait...I have a better example....

Here in NY one of the largest real estate title/settrlement firms in the country went under...Titleserv/Settlemnt Corp.....it literally happened overnight. There were unscrupulous executives who were, among other things, playing with escrow accounts.....and the feds shut them down...literally overnight.

Thousand of loans were in the mix at the time. Citibank, Wells, Chase, Bank of America.....thousands.....

What happened?

Smaller settlement firms picked up the slack....immmediately. The lenders flipped the loans to these smaller firms and they hired the employees from Titleserv/Settlement Corp. and the lending industry didnt even feel it.

SO the impact on the employment market of thousands of employees loisng their jobs overnight?

Nada.

we are not talking one city are we?

We are talking the entire country

Titleserv/Settlement Corp serviced the entire country.
Their headquarters were in NY.....they were licensed in every state in the nation....and serviced every state in the nation.

 

[Jarhead]

And what happens to our economy while those weak die?


We fall into a deep trough huh?

when those that fail, fail, business is picked up by those that are successful...and seeing as those that are successful have an influx of business, the need to hire additional employees.......and who do they hire to help? The employees of those that had failed.

You really need to open your mind as to how pure competition works.

Becuase of pure competition, you were able to afford the computer you are currently typing on.

So I didn't have to say it thanks.

I dont blame TM...the media and the democratic politicians spoin the truth about capitalism and pure competition..

Just as the GOP spins the truth about certain entitlement programs.

And then both parties have us duke it out.

 

[Truthmatters]

National Mortgage News - TitleServ Out of Title Insurance Business?


They did not handle anywhere near the volume of the market that Fanny and freddy do.


Pretending the impact would be the same is redicules

 

[Truthmatters]

An executive with one of TitleServ's competitors, Elliot Foo, the president and chief executive of Closing USA, commented that it is becoming more and more difficult for the mid-size players like TitleServ and his firm to compete against the large national service providers on one side of the spectrum and the small local firms at the other.

 

[bigrebnc1775]

National Mortgage News - TitleServ Out of Title Insurance Business?


They did not handle anywhere near the volume of the market that Fanny and freddy do.


Pretending the impact would be the same is redicules

The problem you have here is that to many CEO's were playing footsies with to many congressional members giving favors for favors once you get rid of the banking lobby the strong will rise up

 

[Truthmatters]

Once you put in the proper regulations this shit will NOT happen again.


Your party fought the left to get this shit passed.

Your party claimed it would bring great things to America.

It crashed the world economy.

That is one big fucking mistake to overlook

 

[Jarhead]

National Mortgage News - TitleServ Out of Title Insurance Business?


They did not handle anywhere near the volume of the market that Fanny and freddy do.


Pretending the impact would be the same is redicules

First of all, that article is inaccurate. They were forced to shut down by the feds...and rightfully so. Yoiu should do a little more research on them. And besides, title was not their only business....Settlement Corp, wholey owned by Titleserve was a whole other business...albeit, related.

Secondly, no...they did not do the same volume as Fannie and Freddie......but the point is that there will always be somene there to pick up the slack....and that is thanks to the laws that prevent monopolies..

Pure competition in the US is actually made up of industry oligopolies.....and becuase of this, the smaller not only reap the rewards of the anchor firms of the oligopolies, but they are there to pick up the slack when one of the anchor firms on the oligopoly faulters...

TM...not everyone understands how pure competition works...and why oligopolies help keep things in order.....but if you "save" the anchor firms of the oligopolies, the whole system ceases to run properly...and thus why I was against any bailout.

However, I will admit, I was on the fence with the auto bailout as the auto industry was never a true oligopoly. There were no "smaller" firms to pick up the slack....there were the big three...and then, of course, the foreign auto makers...but there were no smaller American auto makers

 

[Jarhead]

Once you put in the proper regulations this shit will NOT happen again.


Your party fought the left to get this shit passed.

Your party claimed it would bring great things to America.

It crashed the world economy.

That is one big fucking mistake to overlook

Lets just say you are correct......

So Fannie and Freddie capitalized on the fact that there were no proper regulations...and they failed......and now you are saying "lets put in regulations so they cant capitalize on them and they wont fail?"

Is that fair to those that did NOT capitalize on the lack of regulations and did things properly becuase they deemed it appropriate?

Do you not realize that it is the business model that failed? The ethics of the people in charge that failed?

 

[Oldstyle]

Which causes more disruption to the economy?

Fannie and Freddie getting $7 Bil to keep going or all those who purchased their bonds taking it on the neck?

Frankly, I don't know the answer to that question.

How many more times will they need to be bailed out? ever 2 years they need 6 or 7 billion dollar to secure their faulty transactions. Sooner or later it has to stop. Let the democrats pet project fail.

I completely understand and am sympathetic to the above complaint, ya know?

This complaint about TARP bailouts IS the complaint where the TEA PARTY AND THE OWS folks are in agreement.


Nevertheless, I still ask this question because I know what happens if the banksters go down.

What is worse for the economy as a whole?

Bailing out the banksters and their bond holding VICTIMS, or letting those banksters and their victims go down?

I honestly don't know the answer to that question.

But I do think that cutting off one's nose to spite one's face is not good economic policy.

Unless I'm mistaken the bank loans were paid back. Does anyone expect Fannie and Freddie to ever pay back the American taxpayer?

 

[Truthmatters]

Once you put in the proper regulations this shit will NOT happen again.


Your party fought the left to get this shit passed.

Your party claimed it would bring great things to America.

It crashed the world economy.

That is one big fucking mistake to overlook

Lets just say you are correct......

So Fannie and Freddie capitalized on the fact that there were no proper regulations...and they failed......and now you are saying "lets put in regulations so they cant capitalize on them and they wont fail?"

Is that fair to those that did NOT capitalize on the lack of regulations and did things properly becuase they deemed it appropriate?

Do you not realize that it is the business model that failed? The ethics of the people in charge that failed?

How many bad mortgages did freddy and fanny write?