The Observation Deck

Just announced on the news.

John McCain does not want to discuss economy.

Reason given, too tough.





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Jim O'Bryan wrote:Just announced on the news.

John McCain does not want to discuss economy.

Reason given, too tough.





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Is there something wrong with the economy?

Stephen Eisel wrote:

Jim O'Bryan wrote:Just announced on the news.

John McCain does not want to discuss economy.

Reason given, too tough.





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Is there something wrong with the economy?

It is fundamentally sound.

Don't you just love rich people that don't want to feel uncomfortable?

That's just for us peasants.

Jim DeVito wrote:

Stephen Eisel wrote:

Jim O'Bryan wrote:Just announced on the news.

John McCain does not want to discuss economy.

Reason given, too tough.





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Is there something wrong with the economy?

It is fundamentally sound.

or there is nothing wrong with subprime mortgages

Stephen Eisel wrote:

Jim DeVito wrote:

Stephen Eisel wrote:

Jim O'Bryan wrote:Just announced on the news.

John McCain does not want to discuss economy.

Reason given, too tough.





.

Is there something wrong with the economy?

It is fundamentally sound.

or there is nothing wrong with subprime mortgages

subprime mortgages are bad... Bear Stearns High-Grade Structured Credit Enhanced Leveraged Fund. Is that good or bad ? I am no market whiz.

People who bought houses in places like California and Arizona when home prices were inflated are bad.

I guess that makes my in-laws horrible people. Thank goodness they won't be able to retire for awhile now so they don't have to worry about selling their home for less than they purchased it for.

the media is deliberately using the term "sub-prime mortgage crisis".

They should be using the term "mortgage backed security crisis".

Plenty of white folks in the suburbs and sunbelt have not been able to keep up with their spring-loaded mortgages.

Good point. And not all subprime mortgages are defaulted upon.

not all defaulted mortgages are subprime.

What is a subprime mortgage? It probably includes a wide variety of mortgages. It could mean anything from a slightly higher interest rate, or a no down payment spring-loaded interest rate.

the big boys were never under any mandate to buy up mortgage backed securities. They seemed to place great promotion toward the banks, mortgage brokers, real estate agents, and other levels of lenders to keep dishing out these mortgages so they could be spun into mortgage backed securities. It wasn't easy to do: you've gotta both know a lot of them will be defaulted upon, yet continue behaving as though you don't know a lot of them will be defaulted on.

What's a spring-loaded mortgage?

Will Brown wrote:What's a spring-loaded mortgage?

spring-loaded mortgage is a term I created to describe loans where the monthly payments rise drastically.

A conservative reaction to the wall street meltdown is to blame democrats for creating laws encouraging banks to give mortgage loans to people with lower credit scores.

I am not aware of any law mandating banks to give loans to people. All I remember is seeing offers for no-hassle loans advertised at the yahoo portal, the newspapers, countless junk mail, television, and posters and pamphlets at bank lobbies and windows.

So how do the republicans feel about what John McCain said tonight about buying bad mortgages and renegotiating the interest rates and prices?

I think it is a good idea, but that sure sounds like big government. So do the McCain supporters think this is a good idea?

During the vice=presidential debate Sarah Palin made it clear that people bought homes they couldn't afford. So is she okay with those people having their mortgages lowered?

Obama - He shoots - he SCORES. YAY

McCain - He's benched - poor sportsmanship - faking. YAY!!

Mortgage backed securities are like people making bets on the people making the bet. Interestingly, some student loans are also packaged up into securities. Same with some credit card debt.