Stock Market

[2Hot4TV]

People with money are sitting on the cash waiting for something they can invest in and not be taken for a ride.

The Banks are not loaning money because they have increased the cash on hand to cover any run on the bank.

The amount of jobs that will be lost due to Ford and GM shutting down or large cut backs will funnel down to all the smaller suppliers and then you will have a depression that you cannot recover from with any amount of bailouts.

We have seen layoffs in all job markets ( with more to come) on the west coast except areospace, but that can be just around the corner as poeple stop traveling.

The best position to be in right now is debt free and hang on.

I think our worst fears have come to past and we are just waiting for someone to put a fork in it.

I sure hope I am wrong.

[Mortimer]

You tell 'em .

[geeker2]

If I had a second floor ..I'd jump

[Rudeboyelvis]

Originally Posted by 2Hot4TV

People with money are sitting on the cash waiting for something they can invest in and not be taken for a ride.

The Banks are not loaning money because they have increased the cash on hand to cover any run on the bank.

The amount of jobs that will be lost due to Ford and GM shutting down or large cut backs will funnel down to all the smaller suppliers and then you will have a depression that you cannot recover from with any amount of bailouts.

We have seen layoffs in all job markets ( with more to come) on the west coast except areospace, but that can be just around the corner as poeple stop traveling.

The best position to be in right now is debt free and hang on.

I think our worst fears have come to past and we are just waiting for someone to put a fork in it.

I sure hope I am wrong.

This was Bernake's excuse for taking the bailout cash and giving it to the banks to loan - and it is complete horsesh!t. What they are really saying is they don't have the cash to loan at higher rates to less than stellar credit risks (the people they have been preying on for decades) because the risk now hits home - They need the coffers filled back up to go after the moderate credit risks which is their bread and butter but they don't want to assume the risk with their money -

If you have decent credit, they are still climbing over each other to loan you money. I just bought a new truck and financed from a local bank 4.25%apr for 72 months. A local bank, not some dealer financed scheme... and for what it's worth, the banks I inquired at and did not use are STILL calling my house to see if I want their money.

The bailout now loads the vaults back up - with your cash - so it can be loaned back to you.
So you get to borrow your own money and pay them interest to do it, and if the loans default, no biggie we just go back to the money tree and get more to loan... Friggin' Brilliant. These criminals never cease to amaze

[dalakhani]

Originally Posted by Rudeboyelvis

This was Bernake's excuse for taking the bailout cash and giving it to the banks to loan - and it is complete horsesh!t. What they are really saying is they don't have the cash to loan at higher rates to less than stellar credit risks (the people they have been preying on for decades) because the risk now hits home - They need the coffers filled back up to go after the moderate credit risks which is their bread and butter but they don't want to assume the risk with their money -

If you have decent credit, they are still climbing over each other to loan you money. I just bought a new truck and financed from a local bank 4.25%apr for 72 months. A local bank, not some dealer financed scheme... and for what it's worth, the banks I inquired at and did not use are STILL calling my house to see if I want their money.

The bailout now loads the vaults back up - with your cash - so it can be loaned back to you.
So you get to borrow your own money and pay them interest to do it, and if the loans default, no biggie we just go back to the money tree and get more to loan... Friggin' Brilliant. These criminals never cease to amaze

Rudeboy, im sorry, but this isnt really the case. Many banks dont have much money to lend...AT ALL regardless of risk. Notice I said "many" banks as opposed to "all" banks.

The bank that you got your loan from is probably a good healthy small to medium size bank. Thats great. They are getting fed funds at a rate that is effectively zero and lending it to you for 72 at 4.25. Decent spread. Thats what they were supposed to do. Most likely, they have a healthy amount of deposits and don't have a lot of mortgages on their books. This isnt the type of bank going to the TARP window.

There are many banks that didnt make risky subprime loans commercial or residential and are STILL IN TROUBLE. Such is the peril of borrowing short and lending long. Securitization was the name of the game until last summer. Many millions of dollars of loans were made to GOOD clients that are still paying on time but can't get sold. Those loans are clogging the balance sheets and banks cant get those loans off of the books to get more money to lend.

There is some liquidity coming back into the markets and consumer loans are easier to get now than they were a month ago. This is not true for mortgages. There is still absolutely no execution for triple AAA rated jumbo mortgage backs. In plain english? Even if you have perfect credit and qualifications, you have to pay a huge premium to get financed unless it can be purchased by a fannie/freddie or FHA/VA.

[miraja2]

I feel bad for Obama.
If McCain had won, I would have felt bad for him too.

Of course, the two of them are still doing quite well financially, but winning that election is like getting voted captain of the Titanic after it already hit the iceberg.

[Rudeboyelvis]

Originally Posted by miraja2

I feel bad for Obama.
If McCain had won, I would have felt bad for him too.

Of course, the two of them are still doing quite well financially, but winning that election is like getting voted captain of the Titanic after it already hit the iceberg.

Makes ya wonder why Obama spent 150 million to get it

[Mortimer]

Originally Posted by dalakhani

Rudeboy, im sorry, but this isnt really the case. Many banks dont have much money to lend...AT ALL regardless of risk. Notice I said "many" banks as opposed to "all" banks.

The bank that you got your loan from is probably a good healthy small to medium size bank. Thats great. They are getting fed funds at a rate that is effectively zero and lending it to you for 72 at 4.25. Decent spread. Thats what they were supposed to do. Most likely, they have a healthy amount of deposits and don't have a lot of mortgages on their books. This isnt the type of bank going to the TARP window.

There are many banks that didnt make risky subprime loans commercial or residential and are STILL IN TROUBLE. Such is the peril of borrowing short and lending long. Securitization was the name of the game until last summer. Many millions of dollars of loans were made to GOOD clients that are still paying on time but can't get sold. Those loans are clogging the balance sheets and banks cant get those loans off of the books to get more money to lend.

There is some liquidity coming back into the markets and consumer loans are easier to get now than they were a month ago. This is not true for mortgages. There is still absolutely no execution for triple AAA rated jumbo mortgage backs. In plain english? Even if you have perfect credit and qualifications, you have to pay a huge premium to get financed unless it can be purchased by a fannie/freddie or FHA/VA.

Ah love Dala Coulter....don't you?