Posted on 09/21/2008 4:57:31 AM PDT by Alas Babylon!
The Talk Shows
Sunday, September 21st, 2008
Guests to be interviewed today on major television talk shows:
FOX NEWS SUNDAY (Fox Network): Treasury Secretary Henry Paulson; Sens. Jon Kyl, R-Ariz., and Charles Schumer, D-N.Y.; Bonnie McElveen-Hunter, chair of the American Red Cross.
MEET THE PRESS (NBC): Paulson; New York City Mayor Michael Bloomberg.
FACE THE NATION (CBS): Paulson; Rep. Barney Frank, D-Mass.; Sen. Richard Shelby, R-Ala.
THIS WEEK (ABC): Paulson; Sen. Chris Dodd, D-Conn.; Rep. John Boehner, R-Ohio.
LATE EDITION (CNN) : Douglas Holtz Eakin, adviser to John McCain; Austan Goolsbee, adviser to Barack Obama; former Rep. Rob Portman, R-Ohio.; Gene Sperling, former Clinton administration economic adviser; Rep. Ron Paul, R-Texas.
“it was also the fact the original lender did not care if there was a default because they were out of the risk by selling the note.’
The other even more complex issue is valuing the CDSs on the MBOs. They BDs have them on the books and made a lot of money trading them without having a formalish market. The big BDs are toast on fundamentals. Look at the stock prices of the 21 century brokers. Look at the clean banks (not the BD banks). Look at the boutique investment bankers. They are all doing very well. The NYC bulge bracket model is a buggy-whip. Especially those with local offices in every small town. 90% of that business is selling annuities to people that do not need them. We have brand-name retail brokers putting 401Ks in Annuities around here. Sick.
Bill Crystal is an idiot. He can’t possibly think the fed is writing a $700B check. That is not what is going on at all.
“I guess I have always longed for GW to come out with both guns blazing against the dirty dems since there is really no down side to blasting them for their screw ups.”
I have felt the same way for a long time. I think he’s always tried to be a gentlemen, not point fingers, happy to let others take the credit as long as the right things get done, etc. BUT, so many of us have wished over the years that he’d stand up and push back at the Dims lies and half-truths, finger-pointing, and Bush bashing. He only has a few months in office to go, wish he’d do it now.
I listened to a couple of McCain’s speeches and ads and I’m a little ticked that he’s chosen to include (paraphrasing) ‘what did the Administration do - they stood by and did nothing’, ‘what did Congrees do - they stood by and did nothing’. From what I’ve read, that’s not true about the Administration, nor is it true about at least some Pubbies in Congress. I wish that McCain would start pointing fingers at the Dims (and their lobbyists) as they were the ones that were blocking the Admin in trying to correct things a few years ago.
Yes, but it really goes back to that Boston Fed study in 1992, after which it wasn’t acceptable for banks to maintain traditional down payment (or credit or income or asset or verification) requirements because of the perceived ‘disparate impact’ on minorities, who qualified for fewer loans when such standards were applied.
Kind of like grade inflation at colleges to cover up the lesser performance of academically less qualified affirmative action students, the feds decided such standards in mortgage lending could no longer be imposed on the market.
Secondly, I really don't think the "real world" consists of those who fantasize about "anti-troll 357’s with silver hollow points, and holy water" while sitting at a keyboard, in their underwear.
Finally, hypothetically, how would one shoot a 357 while wearing pompoms?
If by doing this a few nuggets mentioned on this board and other conservative/Republican sites gets into the media and eventually into the homes of the public then this board and others similar are serving one of their purposes to get information out.
I am sure sites such as this are used for their material even if they do not want to mention them for fear maybe that their creditability might be in question.
I am sure that many of them first picked up on Sarah Palin from this and other right wing websites and I also suspect that FR would have been used by the McCain VP committee to see where some of the grassroots conservatives would be on the pick. Whilst we probably cannot take the all the credit for the pick and other items mentioned in the conservative/Republican/right wing media we are still part of the whole.
“If AIG was such a gosh-darned bargain, why didn’t some other private entity make a deal for it? “
Because nobody else has the authority to force the cramdown of the synthetics. The fed does and will. Once the fed laid out the cramdown aspect the share holders of AIG are bitching about the termsheet. LOL.
I hope so. We can only wait and see.
But you’re right, and by 2005 every slick operator around was pushing bad mortgages any and everywhere possible. Mortgage banks, brokers and everyone in the chain—including appraisers—were corrupted.
Agreed, and I don’t give Republicans a pass on this either.
This partly explains why we lost congress in 2006. Why vote for Democrat Lite when one can get the real deal.
You are absolutely right about that. But Wall Street’s like a woman ... you gotta sweet talk ‘em so they won’t get over-emotional and do something rash.
If Wall Street money men get the jitters, and don’t see a positive future, they’ll leave you in a heart beat with all your clothes on the front lawn. Sorry ladies, it’s the truth.
The USA now has its own sovereign fund (sort of) to fight deliberate destabalization efforts.
(ala currency manipulators)
“As I understand it, nobody knows the value of their assets. Not even themselves.”
Exactly because there is no orderly market and only a market determines value. Plus if, err when, they get valued (i.e. forced into a market) they will be marked down. That is the problem that had to be fixed. Nobody knows what the assets are worth so nobody trades them so they become worthless and the balance sheet of the holder goes south and then nobody will do business with them.
It is a mess but IMHO both the borrowers and the instituations are at fault there are very few borrowers who did at not at least have some doubts they would not be able to repay the debt year after year. Many would have realised it meant both of them continuing to earn the salaries they were and hoping against hope that interest rates, utility bills etc etc did not go up substantially.
Bottom line is of course you should not lend money to people that stand a good chance of not repaying it but also those borrowing IMHO must bear some of the responsibility.
"Raines who overstated earnings by Fannie by 40% and profited some 90 mission," pretty much says it all.
More crooks that will go unpunished since they are part of the "chosen ones" entourage.
You only ride to the rescue of members in good standing of the Echo Chamber, after I've decimated them in the course of defending myself from unwarranted attacks.
It's easy for me to promise not to ping you, as I have never done so in the past.
Sounds like a good morning to skip the shows. Don’t see anything that looks worth taping for after church ... since it all looks like economy and democrats and I’m avoiding both.
Yeah Wallace is a disaster,too bad he is where he is.
Hi good to see you
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