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Originally posted by Zealott
"If the crash hadn't actually been planned 100 years ago, I might agree with you. As it stands enjoy WWIII.
I hope we bounce beack even better. But when will this happen? Right after bush is done or a year or so after the next pres is in? What if McCain wins?
Originally posted by Nyorai
Haven't we been building debt for the past 100 years now? Isn't the dollar still worth debt?
Originally posted by Nyorai
And then we go back to the gold standard and stop printing bills we don't have? Heh, that or we repeat the same or habit. Who can resist? This is capitalism, this is credit!
Originally posted by Agit8dChop
I swear, some people have a memory that goes no further than 24hrs.
Originally posted by earth2
This recession will also be short lived.
Fannie Mae and Freddie Mac are government-sponsored enterprises that are central players in U.S. secondary mortgage markets. Over the past decade, these institutions have amassed enormous mortgage- and non-mortgage-oriented investment portfolios that pose significant interest-rate risks to the companies and a systemic risk to the financial system.
The regulator of Fannie Mae and Freddie Mac on Wednesday eased capital requirements for the two biggest housing finance agencies, allowing them to pump up to $200 billion into the distressed U.S. mortgage market. (The regulator, the Office of Federal Housing Enterprise Oversight, said it was lowering to 20 percent from 30 percent the amount of extra capital the companies are required to hold. It will also consider further reductions. The 30 percent requirement had been imposed after the discovery of lax accounting and risk controls...)
Under Frank and Dodd's plan, announced last week, the Federal Housing Administration would insure refinanced mortgages after lenders reduce the loan principal to make payments more affordable to homeowners.
Visa shares soar after biggest U.S. IPO ever
JPMorgan Chase stands to collect about $1.25 billion, Bank of America will receive about $625 million and Wells Fargo about $273 million from selling shares, according to regulatory filings.
...total outstanding credit card debt at the end of 2002 -- $750.9 billion
Originally posted by DisabledVet
#2 There is plenty of oil. Its Liberals and environmentalists that are preventing us from obtaining it domestically. The single largest deposit of oil in the WORLD is in the Rocky Mountains in the form of oil shale.
3# You lost your house. I have no sympathy for you as IT IS EQUALLY YOUR FAULT. Prove to me someone held a gun to your head forcing you to sign the mortgage documentation that clearly indicated what your payments would be during rate increase periods etc. You failed to plan and now you have lost your house. It is your fault and you should be ashamed of yourself. Further you will now forever have to indicate on mortgage loans that you have defaulted on a home loan. You will now have higher interest rates and less of a chance of home ownership.