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Let Market, Not Government, Deal With Subprime Mortgage Problem
IBD ^
| August 15, 2007
| Dick Armey
Posted on 08/15/2007 6:11:20 PM PDT by Kaslin
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1
posted on
08/15/2007 6:11:22 PM PDT
by
Kaslin
To: Kaslin
...a government bailout would only make matters worse. Which is exactly what happened at the beginning of the Great Depression
2
posted on
08/15/2007 6:16:08 PM PDT
by
ElkGroveDan
(When toilet paper is a luxury, you have achieved communism.)
To: Kaslin
Amen. A big financial risk can mean a large profit or a large loss. You better be ready for both.
I was waiting for those subprime loan sharks to go belly up and I'm in no hurry to save their rears.
3
posted on
08/15/2007 6:17:23 PM PDT
by
inkling
(exurbanleague.com)
To: inkling
(Hopefully the payday-loan centers are next...)
4
posted on
08/15/2007 6:17:59 PM PDT
by
inkling
(exurbanleague.com)
To: Kaslin
I’m thinking of getting a smaller 2nd home to rent out till retirement, is this a good time to get something cheap?
5
posted on
08/15/2007 6:18:59 PM PDT
by
Son House
($$Proud Memeber of Vast Right Wing, Out To Lower Your Tax Rates For More Opportunities.$$)
Comment #6 Removed by Moderator
To: Kaslin
Dick Armey is looking at this with blinders on. He only sees the statistics of how many subprime loans are in default. That shouldn't be a problem. But when it's combined with central banks around the world holding back liquidity for over a year, it's a problem.
If he really wants to make a case for the markets to work, he should be criticizing the central banks.
7
posted on
08/15/2007 6:19:13 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: ElkGroveDan
What bailout happened at the beginning of the GD?
8
posted on
08/15/2007 6:20:29 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Lizarde
Larry Kudlow had a real melt down on his show tonight begging for the FEDS to step in a buy up the junk and lower interest rates ASAP Kudlow is a Pollyanna. I doubt if he called for the Feds to buy junk. But he's right that the Fed should lower rates.
9
posted on
08/15/2007 6:23:33 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Kaslin
On the campaign trail, Sen. Hillary Clinton has already proposed a $2 billion federal intervention, and went as far as to actually propose the federal government build more rental housing.
That we are reading about a "subprime mortgage problem" is directly attributable to Hillary Clinton's campaign for the Presidency. The problem is a minor one that the market would otherwise correct quickly and with little harm to investors. But, amplified by Clinton's minions in leftist media and finance, the "crisis" is being orchestrated to provide an "it's the economy, stupid" issue for Hillary.
10
posted on
08/15/2007 6:24:16 PM PDT
by
advance_copy
(Stand for life, or nothing at all)
To: Son House
It’s an excellent time to buy.
Comment #12 Removed by Moderator
To: Moonman62
I should have fined tuned that. No bailout, but it was government that caused the GD from what would have been a short recession - specifically misguided monetary policy.
13
posted on
08/15/2007 6:26:37 PM PDT
by
ElkGroveDan
(When toilet paper is a luxury, you have achieved communism.)
To: Lizarde
The Fed has already been buying mortgaged back securities, but I’m pretty sure they are of the highest quality. The government does need to raise the caps on Fannie and Freddie so they can go in the market and do some cherry picking in the mortgage market.
14
posted on
08/15/2007 6:31:47 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Lizarde; Southack
He really said that - somebody else pointed out the Feds werent allowed to buy up subprime loans and he said - sure they can - this is an emergency - they can do what they want in a crisis. He sure did. I almost drove off the road when I heard that...
Southack, your viewpoints on matters economic are cogent and well-reasoned. Do you think the sub-prime problems have a reasonable chance to seriously affect the larger economy if the Fed does not"assist", as some want to happen?
15
posted on
08/15/2007 6:31:55 PM PDT
by
Fury
Comment #16 Removed by Moderator
To: Kaslin
I am a Masonry Contractor and there is very little work lining up for the fall rush. Last year we had more calls than we had time to work the jobs in.
Banks and Mortgage brokers got greedy and now everyone will pay the price. If it goes like the 1929 Stock Market crash and the subsequent run on banks for cash we are in big trouble. When companies and people cannot get loans to operate on they have to use reserves of cash to operate. That further limits the amount of money floating around in the economy for job creation and business expansion.
Government is not the answer to the problem but they will come to the rescue in their famous, inept, unorganized super flop costume.
I think this winter is going to be very bad for a lot of people, and businesses. We have already cut way back, laid off help, and tried to cut expenses as much as possible.
I see very bad times coming and nobody can show me anything positive to change my mind.
17
posted on
08/15/2007 6:37:51 PM PDT
by
o_zarkman44
(No Bull in 08!)
Comment #18 Removed by Moderator
To: Lizarde
While the purchases aren’t permanent they do add money into the system, and certainly do help liquidity.
19
posted on
08/15/2007 6:46:02 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: o_zarkman44
Mortgage company and hedge fund implode meter..can follow daily with new companies added daily...no fun..but good info: http://ml-implode.com/
20
posted on
08/15/2007 6:52:37 PM PDT
by
givemELL
(New AlQaeda tactics)
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