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| Home Front Economy |
| Is This Mortgage Worthless? |
| 2008-09-28 |
| There is a market. The businesses holding the mortgages do not like the market because if they sell in that market they will not recover most of their original investment. That is not lack of market. In fact, the businesses holding mortgages are wagering that a government bailout will pay more for these mortgages than the market. So much so that they are refusing to participate in an existing market. I have $5.00 in my wallet. I will pay $5.00 for any $1,000,000 portfolio of American mortgages held by any entity. There, I have created a market for mortgages. [more at link] |
| Posted by:Chuck Simmins |
| #19 Many times have I heard serving military men speak about being "promoted" to civilian. Not all of them were kidding. |
| Posted by: Jolutch Mussolini7800 2008-09-28 23:36 |
| #18 But isn't Pakistan the kind of country where the military periodically clears away the corrupt civilian government? That's not the kind of place I want to live in. I prefer our military being equal citizens, not a foreign body. (Which makes Procopius2k mine, even though he appears to have become a civilian. However, I am willing to share.) |
| Posted by: trailing wife 2008-09-28 22:34 |
| #17 P2K, the way that's written it sounds like you are not a legal American. Am I confused? Rhetorical flourish. I don't own it, it belongs to the people. It's their military not mine though I did my time in service when it was even more unpopular among the usual suspects. I hung around for the rebuilding from its nadir. |
| Posted by: Procopius2k 2008-09-28 21:48 |
| #16 We still vote here and can handle this by voting. For all the lefties and other loons around, remember that GWB won the vote in 2004. Remember that the Democrats have only held the presidency for 12 of the last 40 years. Most voters know how to vote sensibly. All is not lost. As for Congress, what have you done lately to throw out the Democrats? If your answer is little or nothing, shut your trap about the military. You're just an armchair anarchist. |
| Posted by: Darrell 2008-09-28 21:21 |
| #15 Yes, Ixnay on the Military Ictatershipday. |
| Posted by: Mike N. 2008-09-28 20:39 |
| #14 Yes, lets not have any of that please. |
| Posted by: Besoeker 2008-09-28 20:36 |
| #13 Gentlemen, I can't speak for Fred, but I'd advise you to take that shit elsewhere. |
| Posted by: Frank G 2008-09-28 20:33 |
| #12 What would it take for a military take-over of Washington? Not very much I'd wager. There's a lot of congress critters that belong in jail or the river. Their undermining of America has gotten to the point of doing real damage, I think only the military can clean out government. Would they then have what it takes to step down and turn it over to civilians again? |
| Posted by: Rob06 2008-09-28 20:29 |
| #11 Hellfish, I'm not. I have a son in the Army, totally respect their mission, and their mission in America is under civilian administration. You're welcome to take that shit elsewhere. Thx |
| Posted by: Frank G 2008-09-28 19:59 |
| #10 I'm all for US Military rule. |
| Posted by: Hellfish 2008-09-28 19:45 |
| #9 P2K, the way that's written it sounds like you are not a legal American. Am I confused? |
| Posted by: Nimble Spemble 2008-09-28 19:15 |
| #8 As a national institution, certainly the most trusted with our honour, Jolutch Mussolini7800. But there are plenty of organizations -- companies, churches, community groups -- and plenty of individuals who strive daily to live those virtues. Just because the scum rose to the top does not mean there isn't a lot of cream in the U.S. even now. |
| Posted by: trailing wife 2008-09-28 19:00 |
| #7 For my money, the repository of the national honor is now in the U.S. military. They represent the old-fashioned virtues of duty, honor, country in a way that the politicians couldn't imagine doing, much less the glitterati of this society. It's not supposed to be that way. The military is supposed to be inspired by the citizenry. When you invert that flow, bad times are ahead for both the citizens and the military, and the country they represent is headed for ruin. |
| Posted by: Jolutch Mussolini7800 2008-09-28 18:21 |
| #6 Can anyone think of anything Washington does well.. Well, your military has shown remarkable abilities for a bureaucracy to self correct, reform, and clean its own house. That's not healthy in the long run for a republic, cause work eventually seems to flow toward competency. |
| Posted by: Procopius2k 2008-09-28 17:45 |
| #5 I don't think our government is qualified to run a neighborhood lemonade stand. Can anyone think of anything Washington does well other than overspend, blow the budget, look they other way at corruption, and be fiscally irresponsible? The same people that got into this financial mess are making the decisions on the bailout. That is crazy and scary. We are becoming the country of bailouts. Their is no penalty for failing or being very risky or imprudent anymore in government or business. |
| Posted by: JohnQC 2008-09-28 15:42 |
| #4 Besoeker, you're right. What political party wants to be in charge of foreclosing? Cash flow from the mortgages may drop to zero without repercussions. |
| Posted by: Chuck Simmins 2008-09-28 14:28 |
| #3 In fact, the businesses holding mortgages are wagering that a government bailout will pay more for these mortgages than the market. So much so that they are refusing to participate in an existing market. And mortgage holders currently behind on payments, credit card debt, Escalade payments.... will also soon be "refusing to participate in the market" ie, PAY THEIR PHUECHING BILLS "wagering" that the Obamessiah and affirmative action by ACORN and the donk congress will bail them out. |
| Posted by: Besoeker 2008-09-28 13:11 |
| #2 I don't have a mortgage (worked hard, paid it off, paid my bills on time through the years thanks to Mrs. JohnQC's diligence) but I have a feeling I am going to get mugged, robbed, and strong-armed nonetheless. |
| Posted by: JohnQC 2008-09-28 13:07 |
| #1 Right. Just remember to make those property tax payments on time otherwise that other American institution, the sheriff's sale, is going to make that piece of paper just a piece of paper. |
| Posted by: Procopius2k 2008-09-28 11:48 |