Comments on: Are They Serious? Fed Takes Mortgage Debt as Collateral, Bear Stearns Gets Bailout, and President Bush is Confident in the Economy! http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/ Learn, Network, Invest Sun, 12 Feb 2012 02:59:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Mikehttp://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-60229 Mike Thu, 25 Sep 2008 17:48:53 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-60229 700 billion dollar bailout now. things are really going well. I can't believe I'm going to be paying for other people risk/failure. 700 billion dollar bailout now. things are really going well. I can’t believe I’m going to be paying for other people risk/failure.

]]> By: Rachaelhttp://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55428 Rachael Wed, 19 Mar 2008 18:01:30 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55428 We hope is correct when it comes to the banks...They may or may not be ahead. We shall see. We hope is correct when it comes to the banks…They may or may not be ahead. We shall see.

]]> By: IVAhttp://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55358 IVA Mon, 17 Mar 2008 21:37:11 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55358 At least the banks are one st ahead this time (we hope). Pumping money into the economy WILL boost confidence and hopefully we'll all get through this turbulent time without too much trouble. At least the banks are one st ahead this time (we hope). Pumping money into the economy WILL boost confidence and hopefully we’ll all get through this turbulent time without too much trouble.

]]> By: Mortgage Calculatorhttp://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55357 Mortgage Calculator Mon, 17 Mar 2008 21:32:34 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55357 Bush confident in the economy? he was confident that Saddam Hussein had WMD too! I'm really angry that this fool is going to affect my life and millions of others because of his crazy ideas. the sooner November comes the better for all of us! Bush confident in the economy? he was confident that Saddam Hussein had WMD too! I’m really angry that this fool is going to affect my life and millions of others because of his crazy ideas. the sooner November comes the better for all of us!

]]> By: Gregory Bainhttp://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55341 Gregory Bain Mon, 17 Mar 2008 11:58:42 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55341 Well, yes. What you say is true. However, it makes me just a little anger when I see this bail out Bear Stearns and see the "retirement" package that the chairman of CountryWide got. This has been a well thought out rip off of the American people. First they get their lobbists to change the bankruptcy laws by wine and dine of Congress. Then they make a ton of money trading worthless paper on the backs of people who could not afford to own a home. The president makes speech after speech claiming the American Dream is being realized under "his watch." And, NOW......How do you spell SCAM? Well, yes. What you say is true. However, it makes me just a little anger when I see this bail out Bear Stearns and see the “retirement” package that the chairman of CountryWide got. This has been a well thought out rip off of the American people. First they get their lobbists to change the bankruptcy laws by wine and dine of Congress. Then they make a ton of money trading worthless paper on the backs of people who could not afford to own a home. The president makes speech after speech claiming the American Dream is being realized under “his watch.” And, NOW……

How do you spell SCAM?

]]> By: Albuquerque real estatehttp://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55320 Albuquerque real estate Sun, 16 Mar 2008 18:28:43 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55320 I agree Rehab. Bush is just defending his choices (whether good or bad), just as any other president does. I agree Rehab. Bush is just defending his choices (whether good or bad), just as any other president does.

]]> By: Rehab702http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55316 Rehab702 Sun, 16 Mar 2008 16:59:45 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55316 Gregory, I think you are misunderstanding my point. The fact is that we are in a mess. Playing the blame game will not fix it. I do believe that people need to be help accountable but that still doesn’t fix things. Any President has to remain optimistic in public, whether he’s guilty of any infractions or not. You certainly are not in the minority in your dislike of Bush, I’m no fan either. But the fact is that the problem will still be there when he is out of office. When we get though this, and we will, things will be different. Some things will be better and some worse, but they will be different. Gregory, I think you are misunderstanding my point. The fact is that we are in a mess. Playing the blame game will not fix it. I do believe that people need to be help accountable but that still doesn’t fix things. Any President has to remain optimistic in public, whether he’s guilty of any infractions or not. You certainly are not in the minority in your dislike of Bush, I’m no fan either. But the fact is that the problem will still be there when he is out of office. When we get though this, and we will, things will be different. Some things will be better and some worse, but they will be different.

]]> By: Gregory Bainhttp://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55301 Gregory Bain Sun, 16 Mar 2008 00:24:20 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55301 It does matter WHO put us in this mess? The courts fill our prisons with scapegoats every day. Bush and his political party have placed us in harms way. They have been quick to point fingers and place blame on past administrations while feathering the nest of their cronies.I remember the 70's very well, thank you. Nixon, Ford, and Carter replaced by the hands on guy Regan. Today everyone talks of Regan as if he were a hero. Bush's daddy had it right - VOODOO Economics is what he called it then and what it is. Of course, being Vice President and President meant more to Bush than being right (to twist the words of Henry Clay).Economics can not be regulated like a water spigot. "The current situation" will unwind and some things will be different than what most of us has become use to as a standard of living. And, if we locked up those from the Nuremberg Trial and those on Enron; why not George? It does matter, how we got here. It does matter WHO put us in this mess? The courts fill our prisons with scapegoats every day. Bush and his political party have placed us in harms way. They have been quick to point fingers and place blame on past administrations while feathering the nest of their cronies.

I remember the 70′s very well, thank you. Nixon, Ford, and Carter replaced by the hands on guy Regan. Today everyone talks of Regan as if he were a hero. Bush’s daddy had it right – VOODOO Economics is what he called it then and what it is. Of course, being Vice President and President meant more to Bush than being right (to twist the words of Henry Clay).

Economics can not be regulated like a water spigot. “The current situation” will unwind and some things will be different than what most of us has become use to as a standard of living. And, if we locked up those from the Nuremberg Trial and those on Enron; why not George? It does matter, how we got here.

]]> By: Rehab702http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55290 Rehab702 Sat, 15 Mar 2008 18:42:01 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55290 To Gregory Bain: it doesn’t matter who put us into this mess. The fact is that the President (whoever it is) has to put on an optimistic face whether he really believes it or not. My prediction has nothing to do with how many days Bush has in office. Things don’t magically change because we have a new President. My outlook for the future is based on things that I have seen before, if you were around to witness the stagflation of the late 1970s you know what I am talking about. I am actually optimistic for the long-term. Our economy has proven itself to be incredibly resilient. However there will be much pain as the current situation unwinds. Usually when the government steps in as they are doing now, they have a tendency to make things worse because of knee-jerk reactions to problems. To Gregory Bain: it doesn’t matter who put us into this mess. The fact is that the President (whoever it is) has to put on an optimistic face whether he really believes it or not. My prediction has nothing to do with how many days Bush has in office. Things don’t magically change because we have a new President. My outlook for the future is based on things that I have seen before, if you were around to witness the stagflation of the late 1970s you know what I am talking about. I am actually optimistic for the long-term. Our economy has proven itself to be incredibly resilient. However there will be much pain as the current situation unwinds. Usually when the government steps in as they are doing now, they have a tendency to make things worse because of knee-jerk reactions to problems.

]]> By: njdochttp://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55287 njdoc Sat, 15 Mar 2008 15:46:08 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55287 An Old World Order! Today's Fed actions led me to further think about the current state of our economic system. I have gone over in my mind numerous time about one fundamental question. Under what kind of system are we living? Is it Capitalism, Totalitarianism, Fascism, Communism or Socialism? Today's action provides the most direct evidence that our system has devolved back to FEUDALISM, or FEDALISM as it could be more aptly called today. This remarkable act of bailing out one investment bank so that their derivatives wouldn't have to be marked to market proves the oligarchical nature of our society. The Lords of Wall Street are under the protectarate of the FEDal system. We the fifes must go about our daily lives and hand over increasingly large sums of our hard earned "money" to ensure the "stability of the markets". What bonus should Mr. Schwartz receive from the taxpayers largesse? As the new Sheriff of Nottingham, Ben Bernanke, and his sidekick, Hank Paulson, go about their daily adventures in destruction of our savings by debasing our currency, we the fifes can only look upon these actions with disbelief. This is a supposed to be a democracy, yet all these decision take place behind closed door under dubious circumstances and have unknown future consequences. This has gone far enough. We should demand the immediate resignation of Ben Bernanke and Hank Paulson, and start having some transparency in our markets. These ridiculous anti-Capitalism, anti-competitive, anti-free market, Save our Crony friends at any cost policies MUST STOP! Robin Hood, where are you? An Old World Order!
Today’s Fed actions led me to further think about the current state of our economic system. I have gone over in my mind numerous time about one fundamental question. Under what kind of system are we living? Is it Capitalism, Totalitarianism, Fascism, Communism or Socialism? Today’s action provides the most direct evidence that our system has devolved back to FEUDALISM, or FEDALISM as it could be more aptly called today. This remarkable act of bailing out one investment bank so that their derivatives wouldn’t have to be marked to market proves the oligarchical nature of our society. The Lords of Wall Street are under the protectarate of the FEDal system. We the fifes must go about our daily lives and hand over increasingly large sums of our hard earned “money” to ensure the “stability of the markets”. What bonus should Mr. Schwartz receive from the taxpayers largesse? As the new Sheriff of Nottingham, Ben Bernanke, and his sidekick, Hank Paulson, go about their daily adventures in destruction of our savings by debasing our currency, we the fifes can only look upon these actions with disbelief. This is a supposed to be a democracy, yet all these decision take place behind closed door under dubious circumstances and have unknown future consequences. This has gone far enough. We should demand the immediate resignation of Ben Bernanke and Hank Paulson, and start having some transparency in our markets. These ridiculous anti-Capitalism, anti-competitive, anti-free market, Save our Crony friends at any cost policies MUST STOP! Robin Hood, where are you?

]]> By: Gregory Bainhttp://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55286 Gregory Bain Sat, 15 Mar 2008 15:24:06 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55286 Rehab 702 said, "Bush is in a difficult spot and has no choice but to put on an optimistic face. " Who do you think put the country in this spot. You predictions of the future economic condition sounds like chicken little. There are only 310 days left for this administration. Rehab 702 said, “Bush is in a difficult spot and has no choice but to put on an optimistic face. ” Who do you think put the country in this spot. You predictions of the future economic condition sounds like chicken little. There are only 310 days left for this administration.

]]> By: fathersezhttp://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55281 fathersez Sat, 15 Mar 2008 01:02:37 +0000 http://www.biggerpockets.com/renewsblog/2008/03/14/are-they-serious-fed-takes-mortgage-debt-as-collateral-bear-stearns-gets-bailout-and-president-bush-is-confident-in-the-economy/#comment-55281 Oh, boy! And those of us in other countries wonder how we looked to the US for economic leadership.Anyway, what do you think of Rehab702's concerns? Can it ever come to that....a 1929 situation? Oh, boy! And those of us in other countries wonder how we looked to the US for economic leadership.

Anyway, what do you think of Rehab702′s concerns? Can it ever come to that….a 1929 situation?

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