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fed meets tuesday - 9/14/2007 1:05:40 PM

pahunkboy

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http://www.bankrate.com/nltrack/news/fed/Fed_preview_Sept07.asp?prodtype=chksav will it cut rates?

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RE: fed meets tuesday - 9/14/2007 2:58:12 PM

seeksfemslave

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Well the Fed can start by injecting some liquidity into my bank account to cover my potential losses if the Northern Rock Bank in the UK goes bust.
Since the root cause of the problem is US financial institutions making irresponsible property loans and then selling them off I dont think I am asking too much.
In fact I think since the source of this crisis is located in America all CM Off Topic contributors should send me 1000 dollars each to compensate for the unacceptable side of Capitalism.which many of you appear to think doesnt exist.

Every word in this post is true.

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RE: fed meets tuesday - 9/14/2007 3:05:56 PM

LadyEllen

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But Seeks, this is a win win situation, dont you see?

Mortgagees repay the loans - banks make a tonne of money
Mortgagees dont repay the loans, banks put up interest on the mortgages of those of us who do pay up to cover their losses, and make a tonne of money. Banks also repossess and sell mortgaged homes to make more money - for the most they can get of course, issuing some more mortgages along with them which will bring more profits regardless.

Meanwhile, those dispossessed of their homes put up the welfare budget, which of course is funded by..... yes, those of us working and paying our mortgages, by way of increased taxes.

No money was harmed in this process.

Except ours

E

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RE: fed meets tuesday - 9/14/2007 3:21:53 PM

seeksfemslave

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LadyE: you are logical as usual but when my money is at risk I'd double everybodys tax to get it back. lol
So I say taxpayers.... Bail out Northern Rock till about next March when my bond matures.
After that do what the hell you like !
.
I must point out that as of now I haven't received one donation. lol
Early days yet. Lets see what tomorrow brings.

(in reply to LadyEllen)

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RE: fed meets tuesday - 9/14/2007 6:05:29 PM

NeedToUseYou

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I'm sure the fed will cut rates, and "inject more liquidity" into the market.

Translation, the fed will create more money loan it to the banks at lower interest, and make everyone the poorer for it, because of the artificial inflation it will create.

They will not let CFC(countrywide financial) collapse, its the largest mortgage company in the US, and one terrible unethical company. They will steal via "liquidity injections"(as they like to call inflating the currency), in order to prop up these mortgage companies, that should just be allowed to die a painful death, but they will save them, and no lesson will be learned, schedule next bubble in housing in 4 years collapse in a decade.

You lose unless you pile on and jump off the boom bust cycle at appropriate times.

Got money to invest, buy very large beaten down mortgage companies, ignore for 3 years, sell it, wait for next financial institution crisis, buy very large institutions stock, wait 3 years or so, dump. Repeat.

LOL, they will steal the country into a inflationary nightmare before they let these large finance corps fail.

Just my opinion.

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RE: fed meets tuesday - 9/15/2007 12:53:16 AM

seeksfemslave

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I agree, but what about the poor savers....like me lol

More stringent regulation of finance houses is overdue.
Total economic free enterprise doesn't benefit everybody. The "game" is not even ie the market professionals hold all the aces, that is why more centralised "democratic" control is required. IMO.

I didnt even know for instance that Northern Rock was a Bank rathr than a Mortgage ( Saving/Loan) House. Well I do now and it might cost me . sob.

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RE: fed meets tuesday - 9/15/2007 9:45:46 AM

pahunkboy

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inject liquidity. mind is in gutter. i can do dattttttttttttt. lol

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RE: fed meets tuesday - 9/15/2007 1:00:03 PM

NeedToUseYou

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quote:

ORIGINAL: seeksfemslave

I agree, but what about the poor savers....like me lol

More stringent regulation of finance houses is overdue.
Total economic free enterprise doesn't benefit everybody. The "game" is not even ie the market professionals hold all the aces, that is why more centralised "democratic" control is required. IMO.

I didnt even know for instance that Northern Rock was a Bank rathr than a Mortgage ( Saving/Loan) House. Well I do now and it might cost me . sob.

No, free enterprise would be letting them drown and die in their own vomit pool they created, what we have is the centralized government supporting industries that it selects to be worthy. It's a merger of corporations and government, the very opposite of a open system, and being that as the case, regulation and/or enforcement of that regulation will be set by the very corporations causing the havoc.

Therefore the only a few solutions or outcomes to the problem A: uncouple the government and corporations, and let them die when they are poorly run or B Keep on with the current program to where government props up bad businesses on the backs of the middle and lower class to preserve the elite class C:. Just give it to the government and then there no illusion about what is happening. \

I prefer A. We are headed towards C, but we will remain in B position until the next major financial meltdown. IMO.

So, individual solution, seeing that the government will not let huge megacorps that are so entwined to the economy fail, buy them when they are down, and ride them up on the next corrupt wave. As far as what you can do now, I don't know, if what you are holding is to big to fail, then hold it, if it is a smaller company that will be allowed to die, I have no idea what you could do. Maybe sell it and buy another larger corrupt financial institutions stock that is having the same problems. At least you can recover on the upswing, as a rule, the larger and more intertwined the company to the economy the greater the chance the feds will steal on their behalf to rescue them.

The system sucks.

IMO

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RE: fed meets tuesday - 9/15/2007 1:22:26 PM

Real0ne

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quote:

ORIGINAL: LadyEllen

But Seeks, this is a win win situation, dont you see?

Mortgagees repay the loans - banks make a tonne of money
Mortgagees dont repay the loans, banks put up interest on the mortgages of those of us who do pay up to cover their losses, and make a tonne of money. Banks also repossess and sell mortgaged homes to make more money - for the most they can get of course, issuing some more mortgages along with them which will bring more profits regardless.

Meanwhile, those dispossessed of their homes put up the welfare budget, which of course is funded by..... yes, those of us working and paying our mortgages, by way of increased taxes.

No money was harmed in this process.

Except ours

E

nice LE very nice!

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