Mortgage bailout declined! - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
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post #1 of 149 (permalink) Old 09-29-2008, 02:30 PM Thread Starter
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Mortgage bailout declined!

I was afraid this was going to happen after what news came out last week. JP Morgan agreed to buy WaMu and Citi was in talks to buy trouble Wachovia bank. I had a feeling this was going to get turned down, since all the bad banks have pretty much been bought, and Warren Buffett agreed to add cash to Goldman Sacs. If that is the case than maybe the mtg situation is on its way out. This could be a good thing, but also a bad thing. Only time will tell I guess.

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post #2 of 149 (permalink) Old 09-29-2008, 02:31 PM
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Re: Mtg bailout declined!

Mortgage. Say it with me. MORT-GAGE. I don't know about anyone else but I was staring at "mtg" going what the fuck is mtg???


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post #3 of 149 (permalink) Old 09-29-2008, 02:33 PM
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Re: Mtg bailout declined!

I knew exactly what he was talking about

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post #4 of 149 (permalink) Old 09-29-2008, 02:34 PM
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Re: Mtg bailout declined!

[quote author=Alec Trevelyan link=topic=124825.msg2651749#msg2651749 date=1222713107]
Mortgage. Say it with me. MORT-GAGE. I don't know about anyone else but I was staring at "mtg" going what the fuck is mtg???
[/quote]
ditto


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post #5 of 149 (permalink) Old 09-29-2008, 02:36 PM
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Re: Mtg bailout declined!

[quote author=Kodos link=topic=124825.msg2651754#msg2651754 date=1222713211]
I knew exactly what he was talking about
[/quote]

Well aren't we special then :P


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post #6 of 149 (permalink) Old 09-29-2008, 02:37 PM Thread Starter
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Re: Mtg bailout declined!

I work in a banking institution so we abbreviate a lot of stuff to make our work less clutterd. For intance mtg is mortgage, F/S is financial statement, I/S is income statement, L/O is loan officer and so forth. I figured everyone knew what mtg stood for though.

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post #7 of 149 (permalink) Old 09-29-2008, 02:38 PM
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Re: Mtg bailout declined!

Wow, some people in Congress do have a brain after all. I don't care if we go through a depression as a result.
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post #8 of 149 (permalink) Old 09-29-2008, 02:42 PM
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Re: Mtg bailout declined!

[quote author=fatabbot link=topic=124825.msg2651780#msg2651780 date=1222713482]
Wow, some people in Congress do have a brain after all. I don't care if we go through a depression as a result.
[/quote]

+1. My fear is if we keep bailing people out then no one will learn.
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post #9 of 149 (permalink) Old 09-29-2008, 02:51 PM Thread Starter
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Re: Mtg bailout declined!

It wasn't really a "bailout" like everyone thinks. Correct me if I'm wrong, but the gov't was going to purchase all the troubled assets to resale at a later date when the housing market turns over. Basically the banks get screwed exactly the same, but they can get the troubled assets off their books. The gov't would most likely hold a preferred position so they would get paid first just like what they set up with AIG? I thought it wouldn't be that bad of deal, but would suck because taxpayers money would have to pay for it. My biggest concern was with a bottom falling out on Wall Street would oil drive it's way back up as another hedge against financial institutions. So far that hasn't been the case, since the dollar has gained some ground, but if it gets weak again here comes trouble.

LMFAO "oh i thought i didn't need that" i bet in your head you were like "go kick your mom in the ass for me when you get home " 08mazda2.0
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post #10 of 149 (permalink) Old 09-29-2008, 02:54 PM
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Re: Mtg bailout declined!

Good thing about a weak housing market: premium property is going for dirt cheap.

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