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cobble, bro is very political (he’s probably way to the right of even our friendly rightists on stoner) and therefore he has a hard time separating economy from politics (imo). I try and listen to the true money guys as they don’t mix the two.
My niece and her husband are a lovely young couple with 2 kids, 2 Phds, tenure-track jobs in a university and a desperately under water house in Florida. All the senior generation tells them to walk away. Shit, everyone else did and the banks got their TARP. It is just that two hard working young people who wanted a piece of the American dream, bought a place in the wrong, place wrong time. So they pay their mortgage on their house every month, paying off a bad trade, a very bad trade that is a horrible ball and chain on their life.
Seems like we now know why Ken Lewis was so quick to leave BAC without putting up a fight. He knew where the skeletons were buried and knew they’d be unearthed.
“Please believe this scenario is not that unusual.”
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You didn’t mention that their credit ratings, in the short term at least and quite possibly in the long term, will be crap. And they will still owe the money.
cobble, bro is very political (he’s probably way to the right of even our friendly rightists on stoner) and therefore he has a hard time separating economy from politics (imo). I try and listen to the true money guys as they don’t mix the two.
gross, i do not eat at mcdonalds :-/
i have gotten their mccafes a few times tho, yum
*rob*
Remember though that their credit rating is toast.
My niece and her husband are a lovely young couple with 2 kids, 2 Phds, tenure-track jobs in a university and a desperately under water house in Florida. All the senior generation tells them to walk away. Shit, everyone else did and the banks got their TARP. It is just that two hard working young people who wanted a piece of the American dream, bought a place in the wrong, place wrong time. So they pay their mortgage on their house every month, paying off a bad trade, a very bad trade that is a horrible ball and chain on their life.
ishtar, That story makes me ill.
Seems like we now know why Ken Lewis was so quick to leave BAC without putting up a fight. He knew where the skeletons were buried and knew they’d be unearthed.
Dona, M4L – I am having serious buyers remorse. I am at 1.21.
Too much?
“I think the theory is probably true to a small degree but immaterial as a stimulus to the economy as a whole.”
Like a bandaid for a gaping wound?
“Please believe this scenario is not that unusual.”
**
You didn’t mention that their credit ratings, in the short term at least and quite possibly in the long term, will be crap. And they will still owe the money.