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October 31, 2008
You got had! Banks must lend out bailout money, Rep. Frank insists
WASHINGTON (MarketWatch) -- Banks receiving hundreds of billions of dollars of taxpayer money must lend out the money, not use it for bonuses or to take over other banks, a top Democratic lawmaker said Friday. "I am deeply disappointed that a number of financial institutions are distorting the legislation that Congress passed at the president's request," said Rep. Barney Frank, head of the House Financial Services Committee. "Increased lending activity is the only legitimate purpose for taxpayer funding of these institutions," Frank said. Frank's committee will hold oversight hearings into the bailout on Nov. 12 and 18.
And you think everything is going to be OK?
Comments
cool - bailout money for bonuses to be used to buy overpriced brownstones. should keep prices up.. until next year when it starts all over again.
Posted by: RobertMosesJr at October 31, 2008 11:20 AM
Buy BAC
Posted by: daveinbedstuy at October 31, 2008 11:24 AM
cool buy bank of america they have the government in their pockets
Posted by: HOBOKENROCKS at October 31, 2008 11:30 AM
I wish that were the branch at 5th Ave. and 14th Street......
Posted by: slopenick at October 31, 2008 11:38 AM
Layoffs all over the place this week in media, law, finance, retail -- all the areas that remained strong after the end of manufacturing and were propped up by credit-card spending. We are just at the beginning of a depression that could go on for two or ten years. The work world is transitioning from old-style companies to the lower-payer Internet world. The marginal neighborhoods from Florida to Bushwick to East Palo Alto are full of foreclosures and abandoned buildings. The banks are holding all these properties, don't know what to do with them, can't get rid of them. (Meanwhile, property still holding up just fine in Palo Alto and Brooklyn Heights.) If the government can't borrow money or oil becomes scarcer, the American way of life (sprawl, industrial agriculture, cars) will go poof. In the meantime, crime seems likely to increase in these hard-hit neighborhoods, if it hasn't already.
Posted by: mopar at October 31, 2008 11:51 AM
And you think everything is going to be OK?
I personally do think everything is going to be OK. Prices will come down to hopefully reasonable levels so that home ownership in NYC is not the exclusive terrain of people who can afford million dollar plus properties and our neighborhoods will be reinvigorated by new families who are excited to be able to afford something in a decent neighborhood. I say bring on the price decreases so that the whole process can move forward. Brooklyn has a lot more going for it than the average price of a Brownstone, namely great communities, awesome cultural diversity, and engaged neighbors who care about their neighborhoods. These things will not change despite prices coming down. In fact I would venture to say that price decreases will improve these factors by including more people in the possible pool of homeowners.
So yes, I do think everything is going to be OK. Can't wait to meet you one of these days What. Coffee at the Outpost perhaps?
Posted by: wasder at October 31, 2008 11:52 AM
Mopar I would like to thank you for putting a logical face on the imploding Mutant Asset Bubble. Well written, well said. The sad thing is no one is going to get until it's too late.
The What
Someday this war is gonna end...
Posted by: Return of The What at October 31, 2008 12:06 PM
The What, have your meds kicked in and/or have you been duly warned by Brownstoner to keep it civil? You've clearly lost your edge.
Posted by: Biff Champion at October 31, 2008 12:19 PM
I also agree with much of what Mopar has written. The only "silver lining" I could identify at least as far as Brownstone Brooklyn goes is that if suburban sprawl and car culture are curtailed in America it may well have a beneficial effect on inner city areas such as Brooklyn.
Posted by: wasder at October 31, 2008 12:19 PM
Yeah Biff...look how he responded to me in the "City Will Buy Foreclosed Homes" thread. He actually mad me feel bad.
Posted by: daveinbedstuy at October 31, 2008 12:22 PM
It's kind of reminiscent of Randall McMurphy after the lobotomy in One Flew Over the Cuckoo's Nest...eerie!
Posted by: Biff Champion at October 31, 2008 12:30 PM
"The What, have your meds kicked in and/or have you been duly warned by Brownstoner to keep it civil? You've clearly lost your edge."
You see I can't win. I go off I'm a bad guy, I try to be cool that knuckleheads throw rocks at me. Oh well..
The What
Someday this war is gonna end...
Posted by: Return of The What at October 31, 2008 12:31 PM
OK, we'll stop throwing rocks. We're all knuckleheads on here anyway What.
In person, I'm sure we're all completely different...except wasder!!! :)
Posted by: daveinbedstuy at October 31, 2008 12:33 PM
Good afternoon What, and to the usual suspects...
Can I invite myself along, if there is a What/wasder meet up? I really think it would be an interesting conversation. Maybe mopar c/would come, too?
Layoffs are in the works at the iBank where I freelance, a couple rounds already, more to come - that may include me. I'll know in 2-3 weeks. Both of the companies where my siblings work had meetings yesterday to discuss the upcoming layoffs - one publishing, one internet/cell phone video.
Speak for yourself Dave! ; ) I am not a 'knucklehead'...I prefer 'chowderhead', thank you.
Posted by: cobblehiller at October 31, 2008 12:41 PM
"Layoffs are in the works at the iBank where I freelance, a couple rounds already, more to come -"
My sister works for Merrill Lynch/ BOA and they are going floor to floor chopping jobs. I feel bad about that (Seriously)! This one of the consequences of the imploding MAB innocent people getting hurt by all of this crap!
The What
Someday this war is gonna end...
Posted by: Return of The What at October 31, 2008 12:47 PM
"You see I can't win. I go off I'm a bad guy, I try to be cool that knuckleheads throw rocks at me. Oh well.."
No, What, you can't win because you've been a homophobic, obnoxious jackass for so long. You trying to get sympathy now for a few civilized posts is truly pathetic. Go back to being the Asshat you really are and spare us the Mr. Nice Guy routine.
Posted by: Biff Champion at October 31, 2008 12:48 PM
Biff you need to be civil...
The What
Someday this war is gonna end...
Posted by: Return of The What at October 31, 2008 12:54 PM
Ok, what have you done with The What???
Posted by: Biff Champion at October 31, 2008 12:56 PM
"Biff you need to be civil...
The What
Someday this war is gonna end...
Posted by: Return of The What at October 31, 2008 12:54 PM"
This ought to go down in brownstoner history as the Quote of The Year.
Posted by: daveinbedstuy at October 31, 2008 12:58 PM
I disagree with Biff on this one. I have no complaint, what, if you keep it civil. I hope you can sustain it but don't be surprised if others are incredulous at first and try to goad you.
Posted by: slopefarm at October 31, 2008 1:02 PM
WHAT THE F**K IS GOING ON HERE!!!!!!!
I'm so confused.
I know it's Halloween, but is this the What's costume, a civilized human?
Posted by: bayridgegirl at October 31, 2008 1:04 PM
LMMFAO
Posted by: daveinbedstuy at October 31, 2008 1:09 PM
slopefarm, I guess I was unclear. I don't mind The What being civil. I just think it's laughable he's acting like the victim when he says he can't win. Maybe it was the shock of it all and I needed some warning that he's turned over a new leaf; although you can't blame us all for being cautiously optimistic!
Posted by: Biff Champion at October 31, 2008 1:10 PM
I can bring you a xanax if it helps with the shock Biff? ; )
Posted by: cobblehiller at October 31, 2008 1:12 PM
A stiff Bourbon would be better and less addictive.
Posted by: daveinbedstuy at October 31, 2008 1:18 PM
"Biff you need to be civil..."
When I typed this I was LMMFAO hard! Oh man, pot kettle thing.
"I disagree with Biff on this one. I have no complaint, what, if you keep it civil. I hope you can sustain it but don't be surprised if others are incredulous at first and try to goad you."
Ya see, Ya see! I tried to be nice!!
"WHAT THE F**K IS GOING ON HERE!!!!!!!
I'm so confused.
I know it's Halloween, but is this the What's costume, a civilized human?"
Please bayridgegirl, no cursing on my post...
"slopefarm, I guess I was unclear. I don't mind The What being civil. I just think it's laughable he's acting like the victim when he says he can't win. Maybe it was the shock of it all and I needed some warning that he's turned over a new leaf; although you can't blame us all for being cautiously optimistic!"
No Asshat, you are not happy unless I'm calling you names!
I have to run. Have a great week end Asshats..
The What (No the real What)
Someday these meds are gonna kick in...
Posted by: Return of The What at October 31, 2008 1:21 PM
cobblehiller, you're too kind, but DIBS is right. I prefer the hard stuff (yes, this is a test for Mr. You Know What).
Posted by: Biff Champion at October 31, 2008 1:21 PM
I gotta say I like this iteration of the What better than the old one. I do agree with Biff that if you crap on people for years and then act nice for a few hours it might take folks a while to buy it. But overall if this is the way you will engage What I am all for it.
Posted by: wasder at October 31, 2008 1:22 PM
In person, I'm sure we're all completely different...except wasder!!! :)
That's funny Dave. Did you think I was different in person or about what you expected?
Posted by: wasder at October 31, 2008 1:22 PM
Peanut gallery here...You are consistantly...wasder! [dewars?]
Have a good one What!
Posted by: cobblehiller at October 31, 2008 1:28 PM
No wasder, I was being facetious. You're one of the few, likable, civil people on here...as you were in person!!!
Posted by: daveinbedstuy at October 31, 2008 1:28 PM
Thanks Dave and cobblehiller.
wasder-dewars--I like it. If you guys knew me a little better you would know that I am obsessed with palindromes and backwards words and various other word games so that is a good one cobblehiller.
Posted by: wasder at October 31, 2008 1:31 PM
cobblehiller, you must be really good at those Jumble word puzzles.
wasder, you're completely charming both here and in person. And thanks for getting my point. It's fine to be civil, but hard to just immediately dismiss the negative references to gays, the referring to women as prostitutes, etc.
But ok, at least I got an Asshat out of him. I'm not trying to troll, but I needed just something to help transition us from the old What to the new and improved What. Is Asshat considered a swear word, by the way?
Posted by: Biff Champion at October 31, 2008 1:35 PM
Maybe we can just consider it a wardrobe malfunction Biff.
Posted by: daveinbedstuy at October 31, 2008 1:45 PM
Back on topic...buy BAC
Posted by: daveinbedstuy at October 31, 2008 1:48 PM
Biff---Asshat is a borderline curse word I would think, but one that everybody seems to enjoy using so it gets a pass in my book.
Posted by: wasder at October 31, 2008 1:53 PM
Aha! Yet another reason to like you wasder! I am an obsessive Scrabble player - I re-arrange letters all the time looking for other words. Even when I'm reading or sometimes when even I'm talking to people! (If I'm bored [shrug]).
Thank you, yes, I like all kinds of word games Biff.
Asshat is remarkably versatile! And always amusing! Unfortunately, I can't use it in my computer Scrabble game because it's not in the dictionary! (Can't 'teach' it words.) Bah! Asshats could be a Bingo!
Posted by: cobblehiller at October 31, 2008 1:58 PM
The What has a sister at Merrill Lynch???!!!
You are a very interesting fellow What.
Posted by: Aussie at October 31, 2008 2:02 PM
"...DIBS is right. I prefer the hard stuff ..."
[enter hot cop]
Posted by: SnarkSlope at October 31, 2008 2:19 PM
cobblehiller--The longest palindrome I managed to write myself is this one (no it doesn't make much sense but so be it):
Grub? No sirrah no! I lob Mort's stromboli on Harrisonburg.
This was accompanied by a cartoon of a man heaving a stromboli from on high towards the town of Harrisonburg, VA as another man tries to grab it from him and asks if it is "grub".
Its no "able was I ere I saw Elba" or "a man a plan a canal: Panama" but still...
Posted by: wasder at October 31, 2008 2:19 PM
What...your sister at ML isn't going to like the BA culture. For starters, too much of the phrase "reach out" ...it was pathetic.
BofA bought our firm in July 2007 and I knew I wanted out of there by August so I started to make a pain in the ass of myself (yes me, imagine that). Then, Christmas came early and I got my package.
The amount of bullshit and pettiness is far beyond what ML internal plitics must look like. At BofA, they truly are "a bunch of hillbillies in three-piece suits."
Posted by: daveinbedstuy at October 31, 2008 2:20 PM
wasder, if you're so inclined, tell cobblehiller how you came up with your login name. I think it's funny and she seems to like wordplay.
Posted by: Biff Champion at October 31, 2008 2:48 PM
redsaw???
Posted by: daveinbedstuy at October 31, 2008 2:50 PM
Better Half says...[he just walked in]...that if you wanted to lob a stromboli...that's a pretty good one! [he's silly!]
UGH! I hate that phrase 'reach out' - they're pretty fond of it where I work, and it gives me the creepy crawlies!
Do tell wasder! sawder? drawers - hmm, no 2nd r, hmm, rasdew, no...
Posted by: cobblehiller at October 31, 2008 2:53 PM
I actually did use redsaw at some point in the past. Wasder came about as function of expediency and laziness and then it just stuck for me. Look at the upper left hand corner of the keyboard and you will see me. I was looking for something that was easy to remember when I first started using interactive websites and then I got used to it. Sometimes I wish I had some clever name or one with symbolic import but Wasder has just stuck.
Posted by: wasder at October 31, 2008 2:55 PM
Dave, no, he's more creative than Yllebdael.
"You're one of the few, likable, civil people on here...as you were in person!!!"
I would like to nominate three others for the "Likable and Civil Both On Brownstoner and In Real Life" Awards:
1) Montrose Morris
2) slopefarm
3) Bob Marvin
Posted by: Biff Champion at October 31, 2008 2:56 PM
and you too Biff!
Posted by: daveinbedstuy at October 31, 2008 2:57 PM
Oh, now we're on to phrases we cringe at?
TOUCH BASE.
Posted by: Biff Champion at October 31, 2008 2:57 PM
Biff--three good choices for likable folks for sure.
Posted by: wasder at October 31, 2008 3:00 PM
I can't stand that Chase commercial on TV where they are cliff climbing and she gets the txt message that her balance is low.
Posted by: daveinbedstuy at October 31, 2008 3:01 PM
Dave, I've been called many things on Brownstoner, but never likable and civil! Maybe I can convince people of that in real life, but never here!
Posted by: Biff Champion at October 31, 2008 3:01 PM
Good one wasder! I should have figured that out from typing it! Shame on me!
Better Half comes up with great logins for me [I have to change them regularly at the bank and I've used up all my favorites] One was to go up diagonally on the keyboard as in...zse4 xdr5, easy to remember!
What about me!? Am I not civil? Was I not civil in person? HARUMPH! [crossing arms and giving you the raised eyebrow!]
Posted by: cobblehiller at October 31, 2008 3:05 PM
cobblehiller...what's your pin # for your ATM card?? :)
Posted by: daveinbedstuy at October 31, 2008 3:08 PM
I said "was"...
Posted by: cobblehiller at October 31, 2008 3:11 PM
cobblehiller, you (and Better Half) were an absolute delight in person and I really hope we have another change to all meet up and raise a glass with our fellow 'Stoners, but I'm talking about the few truly benevolent amongst us who can almost always and without fail post often while completely keeping their cool, consistently give others the benefit of the doubt, rarely give in to the temptation to mix it up or attack for the "sport" of it, etc.
I'm sure even Better Half would agree that there's just a little bit of mischievousness at times behind your posts!
Posted by: Biff Champion at October 31, 2008 3:14 PM
ok, ok, MM outclasses me for sure...
Mischievious...moi? Ok, ok...I'll cop to it.
Posted by: cobblehiller at October 31, 2008 3:18 PM
GREAT, just like high school, let's cast votes for:
Poster that posts the most
Poster that posts the least
Poster with the funniest comments
Poster without a sense of humor
Poster with most original log-in name
Poster with the worst log-in name
Poster that contributes most valid information
Poster that posts nonsense
Poster that has used the word Asshat most
Should I keep going?
Posted by: bayridgegirl at October 31, 2008 3:18 PM
Poster that posts the most
DIBS and Biff
Poster that posts the least
We're still waiting for his/her first post
Poster with the funniest comments
SnarkSlope
Poster without a sense of humor
Yllebdael, Ringo, etc.
Poster with most original log-in name
heck_of_a_job_brownie
Poster with the worst log-in name
Biff Champion and Make_My_Heights_The_P_Heights (or whatever it is)
Poster that contributes most valid information
Nostalgic on Park and Montrose Morris
Poster that posts nonsense
PropJoe, Xander Crews and Biff Champion
Poster that has used the word Asshat most
The (old) What
Posted by: Biff Champion at October 31, 2008 3:23 PM
Cobblehiller,
You'll [hot cop] to it
Sorry, snark.
Posted by: bayridgegirl at October 31, 2008 3:23 PM
"Mischievious...moi? Ok, ok...I'll cop to it."
[enter hot cop, stage left]
Posted by: Biff Champion at October 31, 2008 3:24 PM
BRG, I beg your pardon...I don't do cops...Ok, ok, once I kissed a guy that was a cop, but just once, and then there was the guy that became a cop later...but then there was the fireman! Now that's HOT!
Posted by: cobblehiller at October 31, 2008 3:29 PM
I knew an Immigration Officer in Hong Kong. And then, when the Nimitz used to come there for shore leave, that was Heaven but Nuthin beats a Marine.
Posted by: daveinbedstuy at October 31, 2008 3:33 PM
i'm copping out...I have to go see my nephews in their costumes. : )
Posted by: cobblehiller at October 31, 2008 3:36 PM
Biff Champion:
You're missing a clue about Make_My_Heights_the_P_Heights. Not only is it a marker for their neighborhood of choice but clearly,it's a marker for the poster's age, musical tastes or decade of preference. Clearly, an ode to Parliament Funkadelic during the "One Nation Under A Groove" era...."Make my funk the P funk....I wants to get funked up."
Posted by: BrooklynIsHome at October 31, 2008 4:13 PM
If I don't get back on here. (prepping for a party at our place)
Have a Happy Halloween!!
Posted by: bayridgegirl at October 31, 2008 4:19 PM
Sorry to miss all this. I was distracted by layoffs at my company and faxing an offer letter. How topical. Happy weekend to the What and everyone.
Posted by: mopar at October 31, 2008 6:47 PM
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