Senator for NY (D) Short Talk

Question

He hits some good points, agree with almost everything he says. What you guys think.Link

asloper6001 · Answer

He hits some good points, agree with almost everything he says. What you guys think.Link

LeRinkRat · Answer

Schumer is a smart guy and he&#x27;s bang on about the Bush administration&#x27;s being to slow to work on correcting the mortgage meltdown.&#xD;&#xA; &#xD;&#xA;Joe Kernan is a fucking tool.

KOAJ · Answer

rink - i feel the exact opposite and listened to it this morningkernen and santelli are the only two i like on the whole network

LeRinkRat · Answer

oh, so you STILL think that "millions for Wall Street bailouts but not one red cent for home owners" is a GREAT idea, KOAJ? &#xD;&#xA; &#xD;&#xA;I think that Schumer&#x27;s point about the not getting out in front of the mortgage meltdown because of "ideology" is completely correct. I&#x27;m not talking about any help to property flipping speculators but to those that could HOLD their homes IF they weren&#x27;t looking at balloon interest rate increases. IF Bush, Paulson, B S Bernanke and the rest had acted as aggressively to help those home owners as they have to prop up the brokerage firms, then MAYBE those so called "mortgage securities" wouldn&#x27;t have TANKED. &#xD;&#xA; &#xD;&#xA;Oh, and FUCK Joe Kernen, David "The Brain" Faber AND Larry Kudlow. comes the revolution they can ALL go up against the wall.

asloper6001 · Answer

The senator ripped that one guy, with the quickness.Can't really get into a shouting match though on t.v if you are one of the hosts, I would imagine you wouldn't have a job for long.

When he talked about the mortgage crisis being the bullseye though, he hit it right on target. It's not like this isn't a big surprise, but some people like to talk about all the other minute factors.

KOAJ · Answer

rink - the bad mortgages are the problem no doubt

how do you solve it? allow IB's to get it off their books (writedowns/accounting measures/forced takeovers)

or

fed govt renegotiate terms

if you go with #1, then some people lose, the same way they lost on the dot coms...being greedy, no financial discipline, not reading agreements, etc etc. people lose, lenders go out of business, the mkt rids itself of bad debt (which it needs to do) and rebuilds

if you go with #2, then the lending stops...or comes to a standstill even more than now b/c if the govt is locking in rates then there's no profit in it for banks, reducing the incentive to lend

no lending = no economy

the FED is only concerned with the health of the system...thus the rate cuts at the discount window, the liquidity in the credit markets. if foreclosures go so high that we're onn the brink of depression i expect the FED to step in...

asloper - kernen is a conservative/supply sider, probably why i like him. IMO schumer is only concerned with using the government to help people and has little to no understanding of how the debt markets work

Vermeer · Answer

Amen to the above.And you are giving Schumer a real benefit of the doubt to me Koaj, but then I never liked the feral faced fuck.

Senator for NY (D) Short Talk

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