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2009 is more of the same 2008's Comments Stream Stats
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GMAC: Three Key Questions
"If a loan to someone with a credit score of 621 was a bad idea on Monday, why was it a good idea on Tuesday? The only theory I can think of under which this makes sense is that GMAC thinks that loans to people with credit scores of 621 are profitable, but they couldn’t get the capital cheaply enough until they got their government bailout money."
Two things:
The reason why it is now a good idea is not that they got cheap money (they pay %8 on what they received). The real reason is that it is no longer their money (or the governments). It is tax payers money and I wish people will call it for what it is.
The second thing is that Treasury and the FED asked GMAC to lower their standards because they want easy loans available regardless of cost to the tax payers (IMHO).
Crooks and the incompetent run the country no other explanation needed.
Let GM Fail
When Will the Recession End?
First Glimmers of Optimism
So you actually think that giving money away is a good long term strategy because???
How Oversold Are We?
This is the dumbest statement ever uttered by the "experts" when no time frame is given. So next time you fell like saying that why don't you add something like in a year, in two, in ??
Paulson's Plan: Stop the Rot
Dollar Goes Down Along with Bailout Plan
And you base this on what? Empirical evidence? Some magic formula? Please do tell what evidence do you have that it does what you say it does?
What is Hank Paulson Thinking?
The Deal's Getting Done, But Will It Work?
It's a Bull Market in Government Intervention
This is the way they will print the money. Once the bank gets rid of the toxic stuff it will again extend credit to anyone. This in turn will create more toxic crap that will move again to the tax payer repeat to infinity. I don't know about gold since I have the feeling that they will try to manipulate it. I think long oil and shorting US debt has a better chance on not being so easy to manipulate.
Could Lehman's Failure Cause a Systemic Meltdown?
We already know that. Fair game implies no government manipulation and in a free market we just can't have that kind of non sense
Paulson Should Remain Treasurer Through the Elections
Nationalizing Fannie and Freddie: Latest Move in the Housing Crisis
GSEs Into Conservatorship: Can Housing Stabilize Now?
Government backed is risk-free.
Free of risk as long as the government has the ability to pay it back. Do you see taxes going up to pay them back? Or do you see the government printing the $$ to pay back the debt and if I were holding treasuries I would sell them like if they were toxic because THEY WILL NOT BE PAID BACK
Fannie and Freddie: 80% Dilution
Why would as you say " I hope these actions are positive for the housing market and a result in a significant decrease in mortgage rates. This would be a positive for the economy as a whole." Be positive.
Since when is extending credit to overvalued real estate guarantied by tax payers a good idea? Are you a communist or something like that?