Fannie Mae, Freddie Mac Portfolio Caps Will Be Lifted (Update2)
Phase 1 : Congress raised the GSE (Fannie and Freddie) conforming loan limit from $417,000 to $729,000.
Phase 2 : Congress instructs the OFHEO to lift portfolio caps on the GSEs (which were placed there because of GSE "accounting irregularities" and concerns about the GSE's size/share of market).
Phase 3 : Eliminating all qualifying “standards” on the type of mortagages the GSEs can buy: allowing no-docs/NINJAs, neg-ams, I/Os, option ARMs and assorted hybrids.
Phase 4 : Congress making implicit GSE guarantees explicit, and taxpayers assuming/liquidating the portfolios of the soon-to-be bankrupt GSEs (RTC, part II)
Can’t happen, you say? Never say “never” where a bought-off "Socialize all losses" Con-gress and whining, clueless, bleating "why me?" sheeple are concerned.
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FollowBefriend4 threads1,056 comments Boise, ID
THE WIND AND THE LION. It shows Theodore Roosevelt the way he should have been (it adds some Hollywood touches).
Heck I'm a typical social-graceless tech guy too. Degrees in physics and applied math, worked as a circuit designer then later systems engineer before going off to the "soft geek" world of law school.
We need that double-layered fence built ASAP.
Wouldn't a simple anti-personel mine field be a much cheaper and more effective barrier? You can't get over those with either a ladder or a coyote.
FollowBefriend (4)117 threads17,655 comments Premium
fascism and Nazism are left-wing phenomina
Of course. I thought individual freedom (with attached responsibilities) is a "right wing" concept.
Wouldn’t a simple anti-personel mine field be a much cheaper and more effective barrier?
Then we will need a double-layered fence to keep people from the mine field. ;)
Only on this blog....
What happens when a disgruntled guest does an upper-decker into your gold bullion stash?
FollowBefriend2,842 comments Carlsbad, CAMalcolm's website
February 28th, 2008 at 8:34 am
"Wouldn’t a simple anti-personel mine field be a much cheaper and more effective barrier? You can’t get over those with either a ladder or a coyote."
Border security is a political problem meaning the goal isn't to actually make the border secure, it is to continuously talk about it and look like you are going to make it secure. You go and put a minefield there, you'll actually make the border secure and then what, nothing left to talk about.
It is still golden.
Peter P Says:
February 28th, 2008 at 8:36 am
"Then we will need a double-layered fence to keep people from the mine field. "
The American corporate solution would be a warning label.
On the mines that is.
FollowBefriend1 threads6,749 comments Premium
"the less gold you have left over" LOL!
(Why do I always miss the Great Gold Debates?) Must be past my bedtime?
Great article in the "O" yesterday about "the real gold"! There's a lot of biblical references but Norway has opened a "doomsday vault" deep within an Arctic mountain where millions of crop seeds will be stored to safeguard against wars or natural disasters wiping out global food crops!
Really interesting stuff. I gues the P.I had one but (as you likely guessed)... it flooded during a typhoon.
God help us.
I saw a show about that. It was very interesting.
Crop Diversity NOW Man!
All crops were created equal!
No seriously, I'm glad there's someone, somewhere in a think tank conjuring this stuff up. (I sure never would have thought of it?) I guess in that environment they say the seeds can be stored for up to 1,000 years.
Helps a guy sleep a little better at night. I'll trade you all of my crop seeds for all of your GOLD! Oh, uh... wait a minute...?
Bernanke says time for long-term mortgage answers
Thursday, February 28, 2008; 11:15 AM
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Thursday that it was time to move beyond temporary fixes to the subprime mortgage mess and look for long-term solutions.
"It's important for us and for the servicers to move beyond temporary palliatives ... and try to find more permanent, sustainable solutions," Bernanke told the Senate Banking Committee.
"I would urge you to continue to work on FHA modernization and GSE reform, two areas that can help us meet these challenges," Bernanke said. "Additional steps may be necessary in the future ... but I don't have any additional recommendations right now."
FollowBefriend4 threads1,477 comments Hampton, VA
Concerning a New York Times article pity piece on "heavily mortgaged Americans ("Solutions the Public Hates", in the Patrick reading)
But readers aren't biting. More than 400 vehement reader comments on the Times' site ran 20-to-1 against any taxpayer rescue - with fairness and basic economics the main objections
Hope! Maybe the politicols will notice public outcry to a bailout and Harm's 3rd and 4th phases may be aborted.
The worst thing about a 10 oz gold bar is how tiny it really seems. How big was it - the size of a large dog biscuit?
The American corporate solution would be a warning label.
In English, American sign language, and braille-Spanish. :)
FollowBefriend1 threads3,248 comments
Small dog biscuit.
A little off topic...
Boy those Aussies have fortitude. www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/02/28/international/i053105S05.DTL&tsp=1
"My boat sank. I'll just swim 12 hours to the beach."
Hoarding silver is much more gratifying, at least you get something in return that is substantial.
I'm glad we're getting the exposure, really I am. I think though writers like Michelle Malkin are getting much more traction. Her... solution to the subprime "crisis"?
Suck. It. Up.
What I have noticed though is a quiet convergence of "bubble coverage". Even Nik Ritchie at Dirty is lampooning the likes of Daniel Sadek and other "D-Bag" mortgage brokers. If we've in any small way inspired them... we're only too happy!
I'd guess was roughly about 3-4 inches tall. It was thick though. What's cool is how heavy it was for its small size, it felt like you were holding wealth. That's the only way to describe it.
Thanks for that observation. A short while back I noted that there was hope when HP & BB spoke last that they were moving past band-aids and on to more permanent solutions.
weight wise, you really have to experience it to hold a gold bar in your hand, an entirely different sensation from holding money.
size wise, very depressing, it's like, I paid all that much for this little guy?
More like 3 inches, I'm envisioning it in my hand, if you squeeze your three middle fingers together that's about as tall as it was. I think it was a Credit Suisse bar. I like the Fortuna bars, they have a very pretty image on the front.
OO, you have to admit though that in a sense the small size is neat. I used to thing, wow, that is a lot of money/wealth/whatever to cram in such a small space.
Now hopefully some of that will spill into the "change" we keep hearing about.
Knowing that it is recognized like money anywhere in the world is part of the charm. If I give you some printed money from some country you never heard about you have no idea what you're holding, but with that gold bar you could go and get dollars for it, or you could go to some third world country and buy a slave or have someone killed. The concept of gold is a very interesting relic from ancient times.
think, not thing, God my typing :(
Look at this 12 oz gold coin. I bet it is not very big physically.
Which coin dealer do you guys use?
I am looking for a nice 20 Franc Helvetia. It just looks pretty to me. Perhaps I can use it for meditation.
I would guess that coin is the size of one of those large gold chocolate coins. Pretty, but man that is a hell of a premium over spot.
You'll need to medidate if you own that thing. Like we were saying, owning physical gold in any substantial quantity brings on new stresses.
Yeah, I joked with my wife that if I order that online, the chocolate version will come instead. :)
You’ll need to medidate if you own that thing. Like we were saying, owning physical gold in any substantial quantity brings on new stresses.
Wealth is no wealth if it brings stress.
That's why I like to simplify. Very true, I have friends with the big house and all that good stuff, they are suing this contractor, being sued by that contractor, uh I don't get people.
From pictures online, it seems that the Krugerrands have a beautiful red-tint (due to copper contents?).
On the other hand, is the softness in the Maples a issue? I heard that many dealers will buy them only at melt price.
Many people are not ready to receive wealth. It is essential to understand the concept of abundance.
That is true of most common coins, which is why I'd caution on paying any premium over spot. My buffalos got $5 over spot when I sold them.
Don't worry about the softness, that is somewhat BS, just like a jewelry store will say 18K is too soft which is why they only carry 14K. BS. Pure gold is soft in comparison to other metals but you can't pinch it or anything like that. You can't bend it, if you drpped a pure gold coin onto a hard surface it might leave an impression.
So don't drop a pure collectible gold coin onto a hard surface - yes, that's financial advice.
Peter P Says:
February 28th, 2008 at 10:18 am
"Many people are not ready to receive wealth. It is essential to understand the concept of abundance."
Let's leave the boomers out of this.
The maple platinum coins look nice though. Unlike gold, platinum is HARD.
And guys, please, if you do take your gold in to a coin shop DO NOT wear a fanny pack on the way out. Not only might you get robbed, but you are likely to get your ass kicked for making that kind of fashion statement.
Not financial advice.
(sorry; I posted this question in other threads)
Hi, I was hoping somebody here could point me to a good free foreclosure listings site? (if it even exists) All the ones I see, you have to pay to access full listings.
Much appreciated in advance.
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