With a credit card you can buy food, gas to get to work, car repairs, and other thing that impact your IMMEDIATE needs. A mortgage payment is a problem for the longer term. When it comes to choices that seems only sensible.

This behavior first showed up with subprime borrowers . . . in June 2007:

Since we in 2010, I'd call that a trend by now.

And in Fla, often the much, much, much longer term.

lawyerliz wrote:

if you do it while everyone
else is doing it.

and that's very insightful!

they will bracket the behavior as the future grinds out

From the linked article:

"It used to be people kept cash in the coffee can for an emergency," Reardon said. "But times have changed. People don't have coffee cans. Plastic has become their coffee can."

Oh, my. And when the card gets denied?

ll - I have a Florida story for you.

Just talked with my 86 yr. old mother down there in Ft. Lauderdale. She was in Publix, came out, the car was on the far end of the lot, and while putting her groceries & purse in the car, a man in a nearby car flagged her over, asking her for directions. Being hard of hearing, she wondered if he was telling her she had a flat tire or something. By the time all was said and done, she went back to her car, and her purse was gone. Credit cards, cash, cell phone, address book, medical procedure prescription, driver's license, car registration, spare car key...

Preying on the elderly should be a capital offense.

You are correct, I rounded the number for ease of typing.

CR - Not only not immediately transferrable. Probably not transferrable at all. I hate to say it.

noob commented that he doesn't think survival of the fittest is the appropriate term - it's more surivival of those who can adapt. I honestly don't think a lot of older construction workers can adapt at anything else.

There's a whole new underclass forming.

well, my mom is here because she was preyed on in
Baltimore. 2ce.

RD I left you a reply on the old thread.

The trick here now is to lay off your high benefit employees that cost more and work your new hires to death.

And here we go back to broward's comment again: This is getting to be like one long episode of Survivor.

Yes, it is Outsider. You can see the fear in people now, it is palpable. I watch it unfold daily at the bar.

my mom is here because she was preyed on in
Baltimore. 2ce.

ll - I completely forgot about your mother's situation. Well, there you go.

Capital offense for preying on the elderly. If someone runs on that platform, I'm going to vote for them - one issue voting.

CalculatedRisk wrote:

Outsider, yeah - it is horrible. And I think it is a real tragedy of the bubble - many of these people have skills that are not immediately transferable to new jobs, and I think that is going to keep the long term unemployment high for some time.
Reading the TIME article, I really felt bad for some of those guys in their 50s. It is tough to change careers at the age ...
best wishes

It may be tough to change careers, but I do not feel bad for them. If they didn't save for a rainy day, especially during those boom times, then they are to blame for their situation. I have had to change careers multiple times, and I have savings to support me each and every time. The fact that people don't have savings and/or can't change their lifestyle to adjust to their "new reality" is not my fault, and it is not my tax money's solution.

What happened to people being responsible and taking care of themselves in this country? That is what the country was founded on!

sm_landlord wrote:

as people keep their clunkers running as long as possible.

Gonna need parts. That might be a good industry to be in, reverse engineering, and manufacturing parts for older models, should see a bit of a boom.

I wish. Several of my clients are in the car repair business,
and they are hurting. People can't afford to pay for their repairs.

However, they would have been ok if they also hadn't invested
in real estate.

You would think this would be recession proof.

They'll need the credit cards ... when they're living in their cars?

ll - Oh alright. Fine.

Not a capital offense then.

Just a good swift kick in the rear. Hard enough to think twice before doing that again.

I'm not a vengeance person. I'm just in a reactionary frame of mind right now.

Blackhalo wrote:

Gonna need parts. That might be a good industry to be in, reverse engineering, and manufacturing parts for older models, should see a bit of a boom.

You would think so, but when I raised this with Dryfly, he didn't seem optimistic.

I sure wish someone still made parts for my 1994 Lincolns. Ford certainly doesn't.

Do you honestly think it was the actual construction workers that profited the most from this boom? Really? While they were taking lower and lower wages to compete with illegal labor that contractors just love to hire...Puhleeze.

Outsider wrote:

spuderick -
As my grandmother used to say, while wagging her head:
aye yi yi yi yi.

Outsider, could you translate that for me? Is that Grandma mad, sad, bad??

bearly wrote:

I've got to hand it to Michael Moore. He sure can spot a bunch of easy marks.

Oh ... we're still talking about that.

Well, I'm not going to let Captain Buzzkill ruin my dreams....

Hey spud, you know what Kristina just did?

Bad, bad Kristina.

You go girls, Spud will catch up next year.

Outsider wrote:

Your bando opportunity has wifi?

I only pick bando opportunities with wifi.

I don't know any here that were flipping. I'm sure there were some but we are in Florida and they just don' t make that kind of money down here. We had illegal workers everywhere driving prices for labor. Again, my husband is a fourth year apprentice and is making 14 bucks an hour.

Actually this isn't so. The Dutch bred rare rare varieties of tulip,
with fluffy or speckled blooms.

Later it was discovered that they were afflicted with a virus,
which caused both the beauty of the bloom and the difficulty in
growing them, and thus the rarity.

lawyerliz wrote:

Bad, bad Kristina.

See my comment on last thread. Comment by Rajesh from thread 'Construction Employment Outlook'

Outsider,

That made me very angry reading what happened to your Mom. I am sorry. At least they did not hurt her.

How many years savings should one have? I know guys that have been laid off well over a year with no end in sight. They are working at burger king to eat and living with friends. You are operating under the assumption that the low men on the totem pole were making some kind of dream money. That was the bankers...They have plenty saved up for a rainy day...

Comrade Kristina wrote:

but we are in Florida and they just don' t make that kind of money down here.

During the bubble, you didn't need money. All leverage was infinite and free.

spuderik wrote:

i am a renter. i chose to be a renter because i recognized the housing bubble. why on earth should my taxes be going to bail out a person who bought a home they cannot afford. why are they entitled to a home?

As they say, we get the government we deserve.
I recommend Preparation H with a Lydocaine chaser.

Comrade Kristina wrote:

Do you honestly think it was the actual construction workers that profited the most from this boom? Really? While they were taking lower and lower wages to compete with illegal labor that contractors just love to hire...Puhleeze.

I know it is improper to respond to a question with a question, but bear with me please. Do you believe in saving some money out of every paycheck, just in case?

I realize that construction workers do not equal Bob Toll or Jamie Dimon. They made money from the boom though. They had plenty of work. If you believe they should get unemployment insurance, now that is an argument I'd love to have, but if you believe I should feel bad because they didn't save money, well you know my feelings on that.

I pay taxes too...If anyone cares. I pay taxes to send other peoples kids to school...I don't like kids...or people, but I pay them anyway.

Thank you, nova. You are a compassionate soul.

BTW, I'm really hoping you're going to do a witty novel next. I'll put my deposit in early.

Got to go.

Later

I'm really hoping you're going to do a witty novel next.

He better not. That's my schtick.

Comrade Kristina wrote:

I don't like kids . . . or people . . .

Ahahahahaha - oh, come on CK! Some of your best friends are people!

We had savings. Six months of being laid off cured us of savings. Again, how many years of savings should you have? Plan on being laid off one or two years? My husband is an electrician and was during the boom. He made 25K per year those years...WOOHOO That was with NO health insurance or benefits of any kind. He made slightly more than his illegal counterparts...

burnside wrote:

Some of your best friends are people!

She's a bartender: some of her worst customers are people.

Outsider wrote:

Sorry spuderick - I am out of sorts tonight.
But it was basically shorthand for - I have known several of these guys personally. You can't really save on their incomes to begin with. They often have no benefits, no retirement plans, no sick pay, no vaca, no perks. They're often lacking in post-secondary education. And training for a new field right now, if there were actually jobs somewhere, is something like trying to teach a cat to swim. I don't know of any of them who lived really, really large. You don't often see them in gated communities.
That's all.

I appreciate that honesty. I do know construction workers who made a killing, so like anything it just depends about whom we're talking. I know one that bought a condo, a Hummer, a boat, and lived the party life for years straight. Now he has no money and is about to be let go. I do not feel sorry for him. He made his bed. He will need to learn from his mistakes, just like I have. He will not need to beg or sleep on the streets, but he should never be allowed to stay in his condo. That is a slap in the fact to honest hard-working RESPONSIBLE Americans.

Rajesh wrote:

spuderik wrote:
they have to pay for the irrational behavior of the irresponsible Americans.
But that's what makes the responsible Americans!

Rajesh, please elaborate for me.

Unless they are a turkish van. They are awesome cats.

Kristina, you saved, but you didn't save enough.

Ergo, you were irresponsible.

And in other news, I read that Tiro, the secretary of
Cicero, invented a kind of shorthand--in Latin of course--
and ta-da, invented the & as well as etc.

Yeah, I've read that, but I've never actually seen one.

Hoopajoops LTD wrote:

Shh he's trying to get his populist anger riled up against a target he can understand ...

I'm picturing a hippy with a latte kicking a hackey sack.

Yeah, I shoulda done that too. What was I thinking?

spuderik wrote:

please elaborate for me.

What makes an American responsible is recognizing that in order to make the system of Democracy work, we are going to have to pay bills that we didn't directly benefit from. It would be nice to live in a bubble where we are protected from the actions of others but that is not reality. Part of the duty of being an American is putting up with the regular stupidity that emanates from Washington and the MSM. It is not a pleasant task but necessary all the same.

He better not. That's my schtick.

You're young. nova is getting old. He has to hurry.

Besides, you are a world class atty, no matter what you say. Personally, I see you in constitutional law. Since you do ask from time to time.

agreed.

I steam clams in my microwave. I don't think they are happy when I do that.

Well, they WERE happy before you ruined it for them.

And also some responsible ones.

Tho there weren't many responsible banks.

sm_landlord wrote:

spuderik wrote:
i am a renter. i chose to be a renter because i recognized the housing bubble. why on earth should my taxes be going to bail out a person who bought a home they cannot afford. why are they entitled to a home?
As they say, we get the government we deserve.
I recommend Preparation H with a Lydocaine chaser

i chose to not go down with the ship. i built a bridge toward financial security. the bridge is not impenetrable because no one knows if the government will ruin the dollar or rein in their spending. does bernanke or volker win out?

Blackhalo wrote:

I dislike that example, as you do benefit by having your neighbors kids in school and employable, rather than out of school headed for a street gang.

Street gangs are well meaning. They are just misguided. Please leave them alone.

spuderik wrote:

thank you for asking! i feel sorry for responsible Americans. i feel sorry that they have to pay for the irrational behavior of the irresponsible Americans.

spudo-- what color is the sky on the planet you live on?
Wages peaked in 1974, and all future wealth from then on was magical financial instrument and debt.
Working hard was a liability, and for the "Little People".
This is a system that rewards sociopaths.

Hoopajoops LTD wrote:

sportsfan writes:
It's going to the bank who holds the lien on it.
Shh he's trying to get his populist anger riled up against a target he can understand and which can be physically hit with a rock.

Hoops, I don't recall personally attacking anyone, or sending patronizing messages. I don't appreciate your message. It doesn't add to the honest discussion I hope we are all trying to have here. I like Outsider's point he made, and I like the fact that Kristina and Liz are making their points. Yours however, is disappointing, especially given that you have posted good stuff previously.

spuderik wrote:

my tax money is going to bail out irresponsible banks and borrowers.

The only reason the money is going to borrowers is because the banks need to keep them, to keep the assets from deflating. I don't blame them too much in the grand scheme of things, as it would be foolish of them to pass on free money and free rent. I think you should be mindful of the fact that borrowers in houses they can't afford is just a symptom of the securitization credit bubble ponzi, perpetrated on us by the investment banks.

Personally, I see you in constitutional law.

After all the tirades today I get the feeling I'd be good at political speech writing.

And spuderik, try to take my critique in the spirit it was intended, as jab at the larger trend of blaming individuals with mortgages over bankers because the former is easier to conceptualize and vilify.

Bubblisimo Gerkinov wrote:

Now you're channeling Tom Friedman

"Little Tommy" as he so affectional referred to on the left.
He even has a unit of measurement named after him.
Friedman Unit - dKosopedia

Comrade Kristina wrote:

We had savings. Six months of being laid off cured us of savings. Again, how many years of savings should you have? Plan on being laid off one or two years? My husband is an electrician and was during the boom. He made 25K per year those years...WOOHOO That was with NO health insurance or benefits of any kind. He made slightly more than his illegal counterparts...

I'm not trying to call BS on you but most electricians make way more than 25K per year. I agree that illegals have caused massive deflation in wages no different than Chinese labor has, and that is a problem for another argument. I have savings for 5 years right now because I have saved for my 15 working years. Does that make me better than you? No. I just have a hard time believing that anyone is actually getting rid of wants and focusing only on needs. My experience is that people won't get rid of cell phones, cable, extra cars, cigarettes, etc during lean times. Those are not needs.

spuderik - To be strong and well prepared is a good thing. But remember, whether through their own fault or just as victims of a bad economy, there are citizens who are caught in a real bind right now.

Part of the role of those who are well fortified is to lend support to others who are not in a good place. That's the way it's always been. The strong helping the weak. Philanthropy and all that. It's a privilege to be able to help others. Not to be forced, but to do so voluntarily.

Bubblisimo Gerkinov wrote:

Tom Friedman.

Better than Tom Cruise. Who is in the closet and won't get out.

spuderik wrote:

i chose to not go down with the ship. i built a bridge toward financial security. the bridge is not impenetrable because no one knows if the government will ruin the dollar or rein in their spending. does bernanke or volker win out?

Then you had better be studying asset protection strategies, because the dollar is toast in the medium to long run. It doesn't matter if Bernanke or Volcker win this skirmish, because we already have a national debt that mathematically impossible to pay off, and the Boomers haven't started retiring yet.

spuderik wrote:

Those are not needs.

WTF? Dude.

Elvis wrote:

Better than Tom Cruise. Who is in the closet and won't get out.
And a mad scientologist. At least "Little Tommy" is just a rich and ignorant author who is detached from reality.

Kristina,

When you have the lawyer review the modification offer, have him look to see if there is any waiver of liability regarding the original mortgage terms or other restriction on your right to sue to recover damages due to fraudulent transactions.

You may also want to send a written question to Saxon as to whether accepting the modification would prevent you from joining a class action lawsuit against the mortgage originators or their assigns.

WTF? Dude.

Eloquently spoken. As usual.

Bubblisimo Gerkinov wrote:

Hoopajoops LTD wrote:
Shh he's trying to get his populist anger riled up against a target he can understand ...
I'm picturing a hippy with a latte kicking a hackey sack.

i'm a libertarian. i support ron paul. i used to be a green party bleeding heart liberal. i am a boston college grad. i have poor relatives and middle class relatives. again, bubblisimo, give me something of substance. i am not here to crack jokes. i am here to have honest discourse.

What would you tell an 18 yr old to learn in order for them to make a living?

Wilderness training.

Subsistence farming.

Small engine repair.

Rajesh wrote:

spuderik wrote:
please elaborate for me.
What makes an American responsible is recognizing that in order to make the system of Democracy work, we are going to have to pay bills that we didn't directly benefit from. It would be nice to live in a bubble where we are protected from the actions of others but that is not reality. Part of the duty of being an American is putting up with the regular stupidity that emanates from Washington and the MSM. It is not a pleasant task but necessary all the same.

Rajesh, wow, to say that I disagree is putting it mildly. All the same, I appreciate your opinion.

nova wrote:

What would you tell an 18 yr old to learn in order for them to make a living?

.....like you can tell an 18-year old ANYTHING?....LOL......

I actually signed a petition to start a class action against Saxon. The original loan was GE Moneybank and was brokered by National City. I know it includes a statement that I have to cede the power to foreclose to MERS which makes me suspicious of the legitimacy of the original loan...

Spud, bless his good intentions, seems to be providing an example of the old saw about how easy it might be for the wealthy classes to always be able to get one part of the "little people" to kill the other part.

After pondering Comrade Kristina's (many congrats!!!) mod terms for a bit, some thoughts. I think they are very reasonable, and her payment is probably about what it might have been had house buying been "normal" in the mid 2000s. So no worries. And for those concerned about the "rest of us" bailing out unwise house buyers and HELOC indulgers with mods and HAMP and whatnot, okay, maybe, I don't know. But I, as it turned out, made a lot of money because of the housing bubble. Bailed out of my San Diego condo in 2004 and have been renting since. Perhaps, Spud, you could have done the same. The craziness worked put that way too.

On construction workers and credit card borrowers, I don't really miss NaRM's reductionist shtick, but he did remind us that most people are average. Why expect them to be geniuses about financial speculation, savings, investments, or be able to completely see through the advertising folks' colossal bullshit?

spuderik wrote:

i'm a libertarian. i support ron paul....... i am here to have honest discourse.

....the first thing you need to do is chill and get a sense of humor.....a lot of different people here that aren't and don't...

Wilderness training.

Subsistence farming.

Small engine repair.

+100 **

spuderik wrote:

i'm a libertarian.

Let me see. You read Ayn Rand when you were 16, and thought it was really cool to be a hero for being a complete asshole. It was cool for me to!
Unfortunately, like Puff The Magic Dragon, Rand got left behind, and is only for simpletons with little real life experience.
I can sympathies with some libertarian ideas, but they lack development, and historical perspective.

adornosghost wrote:

spuderik wrote:
thank you for asking! i feel sorry for responsible Americans. i feel sorry that they have to pay for the irrational behavior of the irresponsible Americans.
spudo-- what color is the sky on the planet you live on?
Wages peaked in 1974, and all future wealth from then on was magical financial instrument and debt.
Working hard was a liability, and for the "Little People".
This is a system that rewards sociopaths

is that a trick question? like what color is polar bear fur? lol. the system is completely screwed, no doubt about it. we are here because we care, or because we need an outlet for our frustration. i am here for discussion of difficult topics and i appreciate your input.

I put mine aside for 19 months to care for my paralyzed mother after her stroke until her death. 24/7 and as a shut in because she required care continuously. My reward? When she died I was unemployed as her caregiver and had no rent history because I was her live in caregiver. The result? A 10.22% ARM or foreclosure on her house and getting kicked into the street and losing any equity she had. The loan was predatory in every way and I hadn't a clue what I was doing and was an emotional wreck after having lost my Mother. Things are not always what they "seem"....

Hoopajoops LTD wrote:

Personally, I see you in constitutional law.
After all the tirades today I get the feeling I'd be good at political speech writing.
And spuderik, try to take my critique in the spirit it was intended, as jab at the larger trend of blaming individuals with mortgages over bankers because the former is easier to conceptualize and vilify.

I believe the blame lies with both parties. So I agree with you. But I stand by the fact that condescending comments add nothing to the discussion.

I think a good example to provide here is a conversation I had with one of my regs the other day. He was lamenting how much he had to pay in income tax. I told him I was only getting 300 bucks back and he was jealous. After his sad story of how much he owed, I asked him a simple question. If I trade your tax bill for my tax return would you trade incomes with me as well? He didn't take the deal...go figure.

spuderik wrote:

I believe the blame lies with both parties.

I blame raves. Toga parties are unfairly blamed. Like gnomes for graffiti.

Here in Michigan the popular option for unemployed auto workers is nursing training. It is not easy to visualize the TLC...

mos maiorum wrote:

Here in Michigan the popular option for unemployed auto workers is nursing training.

At least it is not wet nursing training.

Elvis: Spuderik has put you on ignore in 3... 2.... 1 -

Elvis wrote:

Outsider wrote:
Elvis: Spuderik has put you on ignore in 3... 2.... 1 -
Is there a monkey in Spuderik?

i have to go. my friend is yelling at me because we have to leave. I appreciate all of the discussion and look forward to more. Ciao.

CK,

What I did was to work the problem backwards. I put away a little over a year of my gross salary. Then I figured out how much UE would give me and figured out how much utilities, food, ins would run me. Whatever was of the UE after basics was what I could afford for a mortgage. This way I could take a nasty employment hit and not let an emergency wipe me out. Renting was problematic with that plan too a 5% increase would have me raiding the reserves faster.

Now that I have the fixed mortgage, my goal is to work on the house to point where my energy footprint is as small as I can make it in a modest urban neighborhood.

I've taken a 2/3 paycut before just to reestablish myself before I estimate I probably will again. And it will suck.

Where this plan fails in with health ins. There is no way to keep up with that at present.
mourns the demise of the public option

Oh, Elvis, the spudster has totally inspired you!!

Spuderik:

Member for
2 hours 58 min

Hi, My name is MaryAnn and I'm a CR addict. Thats why I'm here, nosey as hell, won't to know everything as soon as the other addicts find it on line, believe most of the posters and nothing my government puts out. Past Medicare age, self-employed and BSR is my hero.

Welcome windward.

The occasional is ok.

He brought you out of hiding!

omg, MaryAnn, get out of my head!

Has Byz Ruins been on?

Comrade Kristina wrote:

MaryAnne was always hotter than ginger

But Ginger was so easy.

MaryAnn wrote:

Hi, My name is MaryAnn and I'm a CR addict.

......Hi Maryann........welcome to our 12-steps program.....we love you.......

MaryAnn wrote:

and BSR is my hero.

I haven't had a hero since Tina Turner persuaded me that I don't need one.

Outsider wrote:

When I complained, she told me to stop being a baby.

I think she actually said "Shut up and have your baby. I need a smoke."

nytol - thanks for all the laughs.

Elvis wrote:

I haven't had a hero since Tina Turner...

Oh those legs.......me too......

CK,
I'm so sorry about your mom. I was almost put into an amazingly similar position. I have seen the doughnut hole in the medicare system first hand. It was brutal but we were lucky. My mother had already sold her house in HB and downsized into an apt she could afford on SSI and a tiny pension. But even that much planning would have been no good against the costs of skilled nursing or hospice.

My name is liz and I am a CR addict,
and I don't want to be cured.

The hub was in the hospital couple years ago with what
really did look like a heart attack but wasn't.

They did all these tests, which was fine, but wouldn't let
him eat. . . and wouldn't let him eat. . .and he gets really
nauseated when he doesn't eat. Finally I put my foot down
and said he HAD to eat, and if they didn't let him they were
being cruel. Well. That took them aback. They let him eat.

So if you are being treated badly use the "C" word, and
you will get somewhere, I think.

....time to milk....in the rain.......enjoy Saturday nite peoples......

Every morning a new student nurse would come in my room and introduce herself. As she would start her spiel, they all said the same thing, I would pretend I was having a seizure. They would freak out. It was the highlight of my day

I had one with my first child, and I don't remember the shot at all.
I just remember being in pain and then not being in pain.

The 2nd one I had the "whistle" where you breathed in the
dope only during a contraction. I never heard of anybody else
using that technique before or since.

lawyerliz wrote:

So if you are being treated badly use the "C" word,

What is the "C" word?

Haha, I knew someone would fall for that

Cruel. The word is cruel. Med types are really taken
aback by being called cruel.

Were you thinking of anything else?

RIF,
You're just a broomstick that I pay as little as possible to get what I want.
I know you think I value you and everything as a person, but I could care less, in fact you probably think the same about me. I'm just a broomstick to you as well, you give me as little attention as possible to get what you want.

lawyerliz wrote:

Were you thinking of anything else?

I was thinking of copulation. But, I always think about that.

OT - more douchebaggery uncovered at GS.

Jesse's Café Américain: Rorschach's Journal: Last Night, a Comedian Died in New York...

lawyerliz wrote:

I think I am working so I can post anecdotes on Calculated Risk.

Got a funny anecdote (Ok, it was funny to those of us in the office).
.
I'm going around to everyone's email accounts and adding new client email addresses to our filter's whitelist. I got to an attorney's computer where the attorney had written to the client (paraphrased):

In the complaint (for divorce), we usually don't list the individual complaints you may have in regards to your spouse. We usually list faults such as "irreconcilable differences" or "inappropriate marital conduct". While it is possible to list "he pees in the shower" or "he sleeps all day", it makes negotiating for what you will really want more difficult.

Any of the females in the office who have been married for any length of time found it funny (the thought of actually listing it in the complaint) and ludicrous (if that is the only problem you have with your spouse, be thankful).

ResistanceIsFeudal wrote:

Who needs anything more than to exploit another, and to be exploited by them in turn?

Got marriage?

Is this a bad time to drop by?

broomstick?

MaryAnn wrote:

BSR is my hero.

Bear Stearns?

yagij wrote:

Once everything settles down, if you are still interested I'll let you know.

I'm still interested as long as she can handle my urinating issue and my narcolepsy.

Elvis wrote:

I was thinking of copulation. But, I always think about that.

Y..you don't think about money more than that? Are you sick? Do you need a doctor?
Here, I will call 911 for you..

yagij wrote:
Got marriage?
LOL. Nope. YouTube - The Darkness - I Believe In A Thing Called Love

We got a few inches Nova, but a ton of rain and wind prior. It is a real mess.

Potholes are forming faster that a congressman's hand in a page's pants.

Btw, I like your idea (way back w/the little girl and her daddy) ,doing a bankster post..mind if I give you some honors?

Blackwater...

Thanks.

Black Star Ranch wrote at 658

"the first thing you need to do is chill and get a sense of humor.....a lot of different people here that aren't... and don't..."

on target, dead center

Time to litter the road with 4" nails. Serious question for my Casual Cannibal's Road Kill Edition: Is it better to imprison the maimed victims so they can reproduce (hopefully) or should I butcher them and freeze them right away? I'm leaning to the latter, but I am open to arguments.

Two more things
The day after Volker testified in front of the Senate Banking committee they held another hearing (which I don't believe was publicly announced?) called "“Implications of the ‘Volcker Rules’ for Financial Stability”. A former Citigroup VP and current Goldman and JPMorgan VPs testified there, as well as Simon Johnson (I think he has something on baseline scenario about it).

Treasury has stopped answering the mail from Liz Warren for whatever reason. She's asking about:
1) Treasury's investment into the CPP with CIT Group (money was supposed to go to safe institutions)
2) Stress Test inputs and formulas (is there a reason this would be secret?)
3) HAMP and the mortgage modification program.

Letters were sent from her to Treasury in November but have not been recipricated...

I didn't see spuderik as a or the exchanges folks had with him a problem of any kind.

He has definite ideas about the world and people in it and can express himself well. He appears able to respond to criticism even if he doesn't take kindly to some of it.

I don't happen to agree with many of the thoughts he expressed, but that's because I see our society as more important than any individual within it and he seems to see individuals as entirely responsible for their own lives. Even though those two views are not mutually exclusive there will always be a certain tension between the individual and the group.

Blackwaterwannabe wrote:

Yea, that's pretty easy

I don't think I existed in any sense of the word sans some spiritual pre-birth kind if it exists.

Elvis wrote:

I was able to help the gold laying goose and myself escape.

Oh, and Angelo Mozillo. Sorry about that.

Doc Holiday wrote:

seems like a person would drink less if they were unemployed (to save money)

They just drink for less. Moonshine. Live it. Love it. Distill it.

YLSP wrote:

Ah the joys of capitalism. Where the only reason people have jobs is for the money.

Ah yes. Took hubby to the ER today and the tech that came in to take his vitals had tatoos and a spiked hairdo..dyed red. They are recruiting gang members, I think.

People are downing more beers, wine and hard liquor than expected during the poor economy, judging by booming collections of a new state tax on the sale of alcohol.

And the beneficiary is state government, which is thirsty for new revenues during a fiscal crisis.

Over the five months of collections, the volume of alcohol sold increased by nearly 1 percent compared to the same period a year ago, the revenue department said.

Beware pop-up here > Alcohol sales rise despite increase in Massachusetts tax | Breaking News - MassLive.com -

Elvis wrote:

Time to go apply for a job as a speed bump.
Go to a Toyota dealer and offer your speed bump service!

Doc Holiday wrote:

Go to a Toyota dealer and offer your speed bump service!

:rimshot:

Time some folks stop believing in viccisitudes and start looking for villains. And sometimes the search stops at the mirror.

Does anyone remember where they were between 1967 and 1976?

I was in a lot of places.

Anak wrote:

At any rate, I didn't dodge a bullet, but an artillery shell. So there but for the grace of God, etc . . . .

Being under artillery or even mortar fire can be a learning experience. One first has to appreciate the fact that where the shells land is totally random. In other words who lives and who dies is totally random.

sportsfan wrote:

What's the point of complaining about which curve ball is being thrown now?

You are absolutely right Sportsfan. Karma will work on us to make us better in ways that we cannot hereto imagine.
Can I borrow a twenty?

MrM wrote (quoted):

The securities unit of London-based Barclays Plc told analysts yesterday not to use the acronym for Portugal, Italy, Ireland, Greece and Spain in notes to clients

What's wrong with GIPSI. I don't interpret that as derogatory.

lawyerliz wrote:

there
really is no reason to pay the mtg. And eventually
this pecadillo will be forgiven, if you do it while everyone
else is doing it.

I'd think twice, and then twice again, before placing more honest savings in honest investments in the US. "Everybody is looting, so you should too" is not the basis for a better future.

nova wrote:

Does anyone remember where they were between 1967 and 1976?

Diapers and 3rd grade? Bryan Texas-->Ramstein, GE -->Rantoul Illinois.

You can't buy groceries with your house.

Anak wrote:

Slaughterhouse 5 is a great book.

From the movie one line I have always remembered (and therefore I hope I get it right now):

"Life is a just of collection of moments strung together in perfectly random order."

Thus I can be who I am today. I can be whoever I once was in some other place at some other time. I can look forward and see what it is that I am becoming. These things are very easy so long as one does not fall into the trap by thinking that time is linear. It really isn't.

Some of it orchestrated by Larry Summers.

* who lives and who dies is totally random *

*add to this randomness of who gets born, and you've captured quite nicely the complete philosophy of life and death *

How do you know for a fact that all of that is random?

MrM wrote:

add to this randomness of who gets born,"

I doubt it is random. There is a good purpose.

"Life is a just of collection of moments strung together in perfectly random order."

In my experience life is a complete formal poem of a complexity beyond human comprehension. It seems random when you aren't paying attention.

People are either living beyond their means or below their means. This is a point in time where extreme behaviors are being exposed. The Bush OwnerShip Society was a con-game to push a lot of lemmings over the debt cliff, by helping provide them with mortgage bait!

Thus setting up the condition of tempting society to live well beyond its means -- and now we are exposed as living within that lie and now must live below our means!

Amen and pass the

Blackwaterwannabe wrote:

There is a good purpose.

... in being drunk and forgetting to use a condom?

CalculatedRisk wrote:

Rob Dawg, and in the post I linked to one of the stories we discussed back in 2007!
That was the point ... this behavior has now gone even more mainstream.

At dinner this evening Mrs. Dawg pointed out that these people had been using home equity to subsidize their lifestyles for so long the original concept of mortgage was lost on them long before even 2007. [Macaroni grill was crowded.]

pavel.chichikov wrote:

But the everybody for himself idea results in a big mess.

That phrase should be put as a disclaimer on all Ayn Rand books