Cknolls

QUOTE (Balta1701 @ Feb 20, 2009 -> 01:00 PM) So basically your argument is that somehow the more expensive and bad for pretty much everyone foreclosure process is cheaper for banks because they can write down the loss all at once? Here's the obvious problem with that...the inter-connectedness of the housing market. Where if people keep going in to foreclosure, it continues to push the value of the neighboring housing down and thus drives them closer to that same point, making even more loans go bad. I would like to ask you this in response...how exactly is taking a partial loss on a loan more expensive for a bank than going through the whole foreclosure process? If the loan is rewritten in a fashion where the people are able to pay, isn't that going to be significantly cheaper for the bank than having to go through the whole foreclosure process and selling the house off for even less value because it's a foreclosure sale? Can you explain to me how exactly having these loans go bad and have the houses go through the foreclosure process and thus having the house sold off for less than what the loan would be re-written for is a better situation for the banks? If people can afford their mortgage, it doesn't matter if their neighbors house is in foreclosure. If you plan on living in your house and can afford the mortgage don't worry about your neighbor. How far should we cram down these mortgages. 40%? 50%? 80%?

I would love to ask the PRINCE how he feels about his CITI investment? LOL. Couldn't happen to a nicer guy.

So when the mortgage/housing charade doesn't work, how long will it take to put forth another 100+ billion dollar program into practice. I would posit that people who are foreclosing will not be able to afford their houses even if their mortgages were cut by a third. I hope the TRANSPARENCY of RE-FORECLOSURE will be available on the RECOVER.GOV website. Speaking of that website, it was nice the way they put the bulk of the stimulus plan as taxcuts and not spending. Perception is everything.

Has anyone read anything about what our Great State is doing to combat the huge deficit it ran up? How many layoffs, silly me, the state doesn't lay off workers, how much do they want to raise our taxes?

QUOTE (southsider2k5 @ Feb 20, 2009 -> 07:25 AM) I wonder if this means we have Bobby's Rush's blessing to not be racists for wanting Burris out of office? How dare you SSK, that is a seat of color now. Did I hear a Jackson may be in the running for that seat. I heard the name mentioned in the news yesterday, but do not know if she is A JACKSON or just shares the surname. Anyone? And what qualifications does she have?

QUOTE (Balta1701 @ Feb 20, 2009 -> 11:24 AM) The good news is, the SEC is actually doing stuff. The bad news is...that's a remarkably big change from a few weeks ago. She did a lot when she headed FINRA. Funny though, I don't remember hearing her answer any questions in front of the blow hards in Congress as to why she did nothing to investigate Madoff and the like. Mary Shapiro in case anyone is wondering.

LOL, At how he blows Daley. Change. Change. Change. Chicago, Cook county Illinois. Nothing wrong here. Any person who voted for change in voting for Obama and who votes to retain Daley, Stroger or Quinn is A-1 HYPOCRITE.

Well once again the mkt loves to hear Messiah speak. Double d up the losses since he opened his pie hole. Keep up the good work boys.

QUOTE (Balta1701 @ Feb 19, 2009 -> 02:52 PM) Did he give the same rant about paying for your neighbor's $200 million bonus out of taxpayer funds? Well I wouldn't have to worry about him foreclosing on his house then, will I?

QUOTE (bmags @ Feb 18, 2009 -> 10:50 AM) In case you haven't noticed, local/state governments aren't doing so well. And what strings are attached to their monies?

Being one of the biggest bears and pessimists on this website, when this "stimulus" fails to create 3 million jobs what is the "exit" strategy of this administration? They still have the auto cos., soon to be the retailers, and God knows who else will line up to the trough. J.C Penney stated today that they will lay off workers and I believe I heard, maybe from the chairman of J.C. Penney, that the retail industry could start to lay off 100,000 people a month. So no matter what Obama says these jobs are going people. When Obama says save or create, how do we quantify that? If retailers do indeed start to lay people off at the above rate, what will the administration say? It started on Bush's watch? I inherited this? Just asking? I may have been optimistic when I predicted 660 on the SPX.

QUOTE (Texsox @ Feb 11, 2009 -> 11:43 AM) Exactly. I would think anyone looking at that would realize the loophole needs to be closed. Not only closed, but retroactive.

QUOTE (Texsox @ Feb 11, 2009 -> 11:37 AM) I agree there should be a minimum number of years served. Would one 38 year pension be smaller than the two 18 + 20 year pensions? Sure depending on the level of gov't served.

QUOTE (Texsox @ Feb 11, 2009 -> 11:18 AM) If a person earns two pensions from two different positions, why is that a problem? What am I missing? Let's use this example, A person works 20 years for the Highway Department, then 18 for the DMV and receives two pensions. How would you fix that? I would give them one pension for 38 yrs of service. Not two pensions. And there should be a minimum amount of time you have to serve in a position to receive a pension or a kicker to a pension(aka. BOBBI STEELE and the rape of the Cook County taxpayer).

Talk about clawbacks? Here is the largest clawback waiting to happen. But do not hold your breath.

QUOTE (Texsox @ Feb 11, 2009 -> 11:01 AM) Cool. The only disagreement I have is if it is earned, I see no problem in someone getting what they earned. My dad receives multiple pensions based on multiple private sector jobs he held, I see no reason why the same would not be fair for public sector. Now if you wish to say that some of those individual pensions are unfair, I'd love to take a look at them. But it seems that the trend is lower pay and retirement for Americans. Perhaps it is necessary. The private pension system is not supported directly by my taxes. The public system is and is absolutely in need of reform. The problem is the people who would reform the system have a direct investment in the system itself. Hence, no reform anytime soon.

QUOTE (Texsox @ Feb 11, 2009 -> 10:50 AM) So what would you suggest? I would suggest cutting State payrolls by at least 20% because the legacy costs of these stiffs is unrealistic. I love the people who say gov't jobs are real jobs. Police Fire etc. Yes they are real jobs, and Clinton put 100,00 cops on the street, great. But after the initial outlay by the gov't, who supports these positions? Local and state taxpayers, right. The last thing we need now is an increase in state and local taxes to pay for more gov't workers. Re-work the pensions of these people and you have real reform and REAL cost savings. One pension for every gov't employee, not one for each level of gov't you served.

QUOTE (NorthSideSox72 @ Feb 11, 2009 -> 09:33 AM) That could be part of the game here. Feds trying to get the states to staff up, create jobs, and be able to handle the work. You mean increase the members of AFSCME so the DEMS can pay back in spades their lapdogs.

QUOTE (southsider2k5 @ Feb 11, 2009 -> 10:19 AM) Here's another if Bush had said it... http://www.washingtonpost.com/wp-dyn/conte...ml?hpid=topnews Remember the slack Bush caught for not knowing what prices were? How about being over $40 per barrel wrong? This man has no clue. Ah come on its just Joe being Joe. Stupid is as stupid does.

If Maxine Waters was my congresswoman I would never admit it. She is perhaps the dumbest person in Congress, A sorry excuse for a representative. Did anyone see her asking questions about underwriting fees paid to the banks who received TARP money? She has no F***ing clue what she is talking about and she should apply for a job on ALL MY CHILDREN. Pathetic! But she had no problems with her own FAMILIY'S link to the Mass. bank that received money from the gov't.

QUOTE (Soxbadger @ Feb 9, 2009 -> 07:18 PM) How can the lawsuit be frivolous if the Judge didnt dismiss it? And the land owner could sue for: Damage to property, trespass. Crazy liberal judges.

QUOTE (DukeNukeEm @ Feb 6, 2009 -> 06:47 PM) I didn't mean unemployment rate...... btw- I dont like you because you make me mad with bad posts. Seriously, never reply to me ever again. Asking politely. LMAO!!! Are you serious? Relax a little bit. It is a forum for exchanging ideas. Take it for what it is and nothing more.

QUOTE (kapkomet @ Feb 7, 2009 -> 06:59 PM) These job numbers are all bulls*** anyway. It's just to add to the dramatics of the whole thing. Right. Messiah started with "I will create X million jobs." Now he will SAVE or CREATE 3-4 million jobs. Good enough for gov't work, I guess.

QUOTE (Balta1701 @ Feb 3, 2009 -> 11:06 AM) Question for all of you who keep saying "This isn't stimulus". What exactly do you think a government stimulus is? Something that does not increase the baseline budget the following year.

When Fox asked the Nebraska Democrat if he thought Republicans would vote for the bill in the Senate he responded “I don't even know how many Democrats will vote for it, as it stands today.”