How to get the economy going.....

Heard this weekend about an MD with perfect credit having difficulty getting a mortgage in SoCal.
Obama needs to nationalize the "zombie" banks ASAP.
http://www.nytimes.com/2009/02/23/opinion/23krugman.html

 

I'd rather have credit tight than too loose. Long-term we'll get into a lot less trouble with tight credit

Now all we have to do is take care of the criminals bilking us out of billions. eg Madoff, Stanford, etc

 

Seems that a lot of folks thought Madoff was god, or something along those lines. Not only did the regulatory officials not look into him, when a whistleblower brought firm evidence to their attention, they swept it under the rug.

Nice

 

60 minutes segment on his ponzi scheme, had another investment firm hire a math expert to investigate mader's investment strategy. as he put it, it took him 5 minutes to realize the plan was a scam and about 4 hours to prove it mathematically.

this was in 2001. he reported his findings to his employers in 2001, 2004 and 2005....guess what was done about that info?/

ya well...who knows, after all, it was on 60 Minutes...

 

Wth Jay, youre Canadian. Your banks haven't gone zombie. You should be sitting back smoking a defacto legal joint and laughing at the US.

P.S.

I'd bitch about this being a political topic and in the wrong forum but as long as Berman and Amped don't show up I'll give you all a pass.

 

Try a $75 billion Cdn dollar bailout

Canada's 75 Billion Dollar Bank Bailout

Adjusted for population, on par with the US banking mess

 

how about no money down car loans,,, no income verification car loans?

i think its every americans right to own a car.

 

agree with first paragraph.

second paragraph you forgot the greatest bilkers to date:
1. Barak Obama - bilking us and our children and their children for TRILLIONS of dollars,,, i think when his first 6 months ends ,,, TENS of Trillions of dollars - if he socializes medicine.
2. Reid and Pelosi - as accomplices.

Madoff cannot hold a candle to obama who surpassed him in under 4 weeks of taking office. think about that,,, it took bernie decades to bilk investors our of $50 Billion,,, obama did that in hours. :rockon:

 

?? You're being sarcastic, right?

 

wow 75 Billion??? in a country with what?? 1/5th the population?

 

Oh crap. Time to transplant the thread.

 

The Federal Reserve just launched its new $200 billion program to help lending to small businesses and consumers.

Called the Term Asset-Backed Loan Facility (TALF, not to be confused with TARP), the loans are meant to be quick-strike: participants must request the loans by March 17 and the Fed will hand them out by March 25.

This program has been eagerly awaited since it was announced last fall.

You can read the details of the plan here.

The money won't go directly as loans to businesses; instead they are meant for investors who buy AAA-rated asset-backed securities backed by auto loans, credit card loans, student loans and so forth.
Loans to consumers and businesses won't start flowing again until the securitization market unfreezes, so the Fed's new plan is aimed at cracking that open.

The Ticker - Fed Launches New Loans Aimed To Loosen Credit Market - Economy Watch

 

Ok, we're screwed. I'm just pissed off that I busted my hump for 25 years only to see my minority of investments disappear, and the majority of my investments earn paltry 3-5% returns

 

According to the CIA World Fact Book:

https://www.cia.gov/library/publications/the-world-factbook/geos/ca.html

Canada: approx 33 million persons

https://www.cia.gov/library/publications/the-world-factbook/geos/us.html

USA: approx 303 million persons

I used to always use a rough rule-of-thumb of 10:1 when contrasting the population of the US to Canada. It's better to use 9:1.

So in terms of proportion, the generous Canadian taxpayer shoveled about as much into Canadian banks as American taxpayers did into American banks

 

How else do you explain meth mouth loser hillbillies driving brand new pick em up trucks with Skyjacker lift kits?

 

Please don't overuse the term 'meth mouth. Be subtle. Try 'Low tooth to head ratio'.

 

Umm... cash???

 

I should ask Malorn what proportion of his sales were cash sales to "low tooth to head ratio" drug dealers