Comments on: At or Above-Prime Subprime Primers http://www.mediachannel.org/wordpress/2007/10/19/at-or-above-prime-subprime-primers/ As The Media Watches The World, We Watch The Media Fri, 21 Nov 2008 15:46:32 +0000 http://wordpress.org/?v=2.0.5 by: W.C. Varones http://www.mediachannel.org/wordpress/2007/10/19/at-or-above-prime-subprime-primers/#comment-6751 Sat, 20 Oct 2007 17:29:48 +0000 http://www.mediachannel.org/wordpress/2007/10/19/at-or-above-prime-subprime-primers/#comment-6751 How are SIVs like SIV? They are both contracted by <a href="http://wcvarones.blogspot.com/2007/10/more-on-sivs.html" rel="nofollow">having sex with monkeys</a>. How are SIVs like SIV?

They are both contracted by having sex with monkeys.

]]> by: Sal DiGiacomo http://www.mediachannel.org/wordpress/2007/10/19/at-or-above-prime-subprime-primers/#comment-6749 Sat, 20 Oct 2007 15:30:32 +0000 http://www.mediachannel.org/wordpress/2007/10/19/at-or-above-prime-subprime-primers/#comment-6749 I spent a year as a realtor with a major national chain. I was appalled that when I presented a couple who had $4,000 to put down on a house and were interested in a Fannie Mae government guaranteed house, that I couldn't get the forms needed and the manager gave me no less than 4 'talks' to push the mortgage company of the realtors'. The line was that they should spend the down payment on a new car, etc. The couple had to sign statements that they had heard my 'rap' and watched a video on the wonders of the company-owned mortgage company before they could get the Fannie Mae forms. This was a company that not only sold sub-prime mortgages over regular ones, but was creative in the length - 99 year mortgages coming to mind. Needless to say, I am now going to Culinary Arts School and never want to see a realtor... -Sal DiGiacomo I spent a year as a realtor with a major national chain. I was appalled that when I presented a couple who had $4,000 to put down on a house and were interested in a Fannie Mae government guaranteed house, that I couldn’t get the forms needed and the manager gave me no less than 4 ‘talks’ to push the mortgage company of the realtors’. The line was that they should spend the down payment on a new car, etc. The couple had to sign statements that they had heard my ‘rap’ and watched a video on the wonders of the company-owned mortgage company before they could get the Fannie Mae forms. This was a company that not only sold sub-prime mortgages over regular ones, but was creative in the length - 99 year mortgages coming to mind. Needless to say, I am now going to Culinary Arts School and never want to see a realtor…
-Sal DiGiacomo

]]> by: Scott Gregory http://www.mediachannel.org/wordpress/2007/10/19/at-or-above-prime-subprime-primers/#comment-6735 Sat, 20 Oct 2007 04:54:51 +0000 http://www.mediachannel.org/wordpress/2007/10/19/at-or-above-prime-subprime-primers/#comment-6735 Calling the problem "subprime" is just more US corporate spin. The problem is that since the fall of 1982 the Fed has been rolling the printing presses printing funny money; in other words, it is vastly greater than just a lender judgement problem. The world has been flooded with paper dollars worth nothing unless oil producing countries are willing to invoice in dollars. In addition to this criminally irresponsible monetary policy, the domestic fiscal, investment, and trade policies of the United States have stripped the nation of industrial and manufacturing capacity, there is nothing for the holders of dollars (like oil producing nations) to spend their dollars on except to fuel real estate bubbles. Foreigners are dumping their dollars as fast as they can. The so-called "subprime" problem is just the tip of the iceberg of problems for a United States that produces nothing of value, depends on imports for basic sustenence, and has allowed a model of urban/suburban development that is unsustainable with greatly higher fuel prices...which are the freight train coming down the road at the American people. Yes, SELL. Everything but your unmortgaged land, and maybe grandpa's old shotgun; probably useful to protect that vegetable garden that used to be the backyard. And those goats. Calling the problem “subprime” is just more US corporate spin. The problem is that since the fall of 1982 the Fed has been rolling the printing presses printing funny money; in other words, it is vastly greater than just a lender judgement problem. The world has been flooded with paper dollars worth nothing unless oil producing countries are willing to invoice in dollars. In addition to this criminally irresponsible monetary policy, the domestic fiscal, investment, and trade policies of the United States have stripped the nation of industrial and manufacturing capacity, there is nothing for the holders of dollars (like oil producing nations) to spend their dollars on except to fuel real estate bubbles. Foreigners are dumping their dollars as fast as they can. The so-called “subprime” problem is just the tip of the iceberg of problems for a United States that produces nothing of value, depends on imports for basic sustenence, and has allowed a model of urban/suburban development that is unsustainable with greatly higher fuel prices…which are the freight train coming down the road at the American people. Yes, SELL. Everything but your unmortgaged land, and maybe grandpa’s old shotgun; probably useful to protect that vegetable garden that used to be the backyard. And those goats.

]]> by: Mark Gomes http://www.mediachannel.org/wordpress/2007/10/19/at-or-above-prime-subprime-primers/#comment-6731 Sat, 20 Oct 2007 02:28:34 +0000 http://www.mediachannel.org/wordpress/2007/10/19/at-or-above-prime-subprime-primers/#comment-6731 So, once again the big banks are in a suspiciously perfect position to profit (at our expense) from a problem of their creation. Coincidence? Ha! So, once again the big banks are in a suspiciously perfect position to profit (at our expense) from a problem of their creation.
Coincidence? Ha!

]]> by: Cord;ey Coit http://www.mediachannel.org/wordpress/2007/10/19/at-or-above-prime-subprime-primers/#comment-6730 Sat, 20 Oct 2007 02:19:30 +0000 http://www.mediachannel.org/wordpress/2007/10/19/at-or-above-prime-subprime-primers/#comment-6730 Reducing markets to gambling dens with derivatives and bundling turds with gold is a sign that the real estate banking has turned into a brothel. Also look at the shady actors Marvin Bush. Oh whose drawer are Jeb's fingers slammed in these days. The bubble is busting and bursting run for your life. Sand bag the condo and someone call Blackwater to fend off the process servers at the Vineyard mini castle. Reducing markets to gambling dens with derivatives and bundling turds with gold is a sign that the real estate banking has turned into a brothel. Also look at the shady actors Marvin Bush. Oh whose drawer are Jeb’s fingers slammed in these days. The bubble is busting and bursting run for your life. Sand bag the condo and someone call Blackwater to fend off the process servers at the Vineyard mini castle.

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