All Forum Posts by: Dave Kennedy

Jeff I could be wrong but I thought he was against bank bailouts from the begining. I don't think he was ever stumping for the wall st gang.

I watch CNBC regularly and Rick has been a guy, for the most part, that has said let them fail.

He says the same thing here...let those banks, homeowners fail and let the responsible flourish. He says if they are going to cut interest rates it should be for EVERYONE! But he would still rather see the government not get involved.

I may be mistaken though...

Here is a piece of Vermont.

http://www.huffingtonpost.com/good-magazine/vermont-most-likely-to-s_b_84820.html

Which was last Feb. I can only imagine that the sentiment has grown stronger since given the developements of the country in the last year. Being from New England I hear about vermont quite a bit. I personally don't think it'll happen. I don't see the state government having enough balls to do it.

As for NH, that would be the first I heard about it. Did you hear it on local or national news?

There is also talk about Vermont doing the same.

I have no idea how real a threat it really is. But I could see them both holding hands and going at the same time if it ever where to happen.

Vermont has always had very different ideals, always wanted to keep big business and corporations out.

If both states were to leave it would be strange to think my state (Mass) would now boarder Canada....lol. I'd be a 10 minute drive from the boarder.

So there has been a lot of talk lately about nationalizing some of these big banks. The govt then came out and said its not going to happen and they have no plans to take such action.

I was just watching a local news station with a panel of economists and a few of them agreed saying "in 18 months we the people are going to own several of the nations biggest banks." They don't agree with the action but they say it is inevitable.

If this case what really happens in this situation? Why is it bad, why is it good? I understand the process but don't understand the long term effect.

Obviously any shareholders of these banks will be totally screwed and their shares will be essentially worth nothing. The stock market will also take huge hits when/if a bank is purchased by the Govt.

Is it just the fact that people don't like the control and regulations the government could impose once they take these banks over? What is the biggest draw back?

LOL...I never thought of SS as a ponzi scheme before because prior to the madoff case I didn't even know it existed.

Now that I think about it..it's basically the same.

I pay money to the govt, to pay for my fathers generation of retirement, who paid money for the prior generation. Its a cycle that we all know is going to break.

I'd actually love to see someone call in CNBC and ask this very question. The debate would be great!

I wonder who is responible for this.....

If you take 20T / 300M (population).

You get a bunch of 6's....! Yikes....lol.

Thats what I had assumed.

I figured it would be unlikely. But I just wanted to ask because you never know...

Is it possible for me to wholesale a property that I would qualify for in a standard loan?

I used the million as an example....not really looking at a Million home.

Lets say with my salary I am approved for a 300k loan. Can I go grab a house and put it under contract for 600k,800k, 1M?

Thanks!

Haha...I saw the little snip they keep playing on CNBC but didn't see the entire thing. That was great.

I don't think we have what it takes to start a revolution or a serious uprising in this country. Not enough people would really take action. Not enough people understand the implications of whats going on.

Originally posted by Mitsu O'riley:

P.S. Dave, are you the only Obama hater in Mass?


Mitsu

Mitsu, I'm not an Obama hater...but I don't like his policies thus far. I didn't vote for him like the rest of my state did. :roll: They just vote blue and probably never even listened to a debate.

You didn't have a problem with the way the press conference was held? I thought it was a bit much. I think they need to pair down that rally mentallity in these PC's.