Minnesota Timberwolves to sign ex-Pacer David Harrison

Short on big men, the Timberwolves are taking a chance on former Indiana Pacers center David Harrison.

[Mee]

But we have to bail the banks out?? Makes way too much sense. Bail the rich out to make the poor poorer

[Andy]

Get in line everyone...the hand-out line is growing quickly.

[I am the stupid one]

"In July, Congress enacted legislation designed to help borrowers who owe more than their homes are worth by allowing them to refinance into a government-backed loan, provided their mortgage company forgives part of their principal."

I guess I should have spent the $400,000 I was approved for in 2001 instead of the $235,000 I actually spent. I guess I am the stupid one because the mortgage company nor the government is going to give me anything. They'll just raise my taxes and give it to others "in need". Oh ya, I also put 20% down. Dumb.

[Red Ryder]

Reid Implies KXNT Radio Host is Racist for Tying Fannie Mae Exec (Franklin Raines) to Obama



Audio HERE! http://www.breitbart.tv/html/192383.html



"[Franklin] Raines, who you're talking about, worked for Fannie Mae, was there for a while. The only connection that people could bring up about Raines and Barack Obama is that they both are African-American, other than that there is nothing."

more at breitbart.tv ...

Not only are they throwing down the race card where it isn't warrented, they're flat-out lying in the hopes that no one will question them. After all, questioning them is 'racist', thus the cycle is repeated.



----------

Goldman Sacs Presidential Campaign Donation Comparison

Goldman Sachs

% to Dems = 73 % to GOP = 27

http://www.opensecrets.org/orgs/summary.php...

http://www.opensecrets.org/orgs/toprecips.php...

Sachs is Obama’s largest contributor

http://www.opensecrets.org/pres08/contrib.php...

[Red Ryder]

Kashkari to be tapped to head bailout

http://news.yahoo.com/s/ap/20081006/ap_on_bi_...



An official says the administration has decided to pick a key Treasury Department official to be the interim head of its $700 billion rescue effort for financial institutions.

The official said Monday that Neel Kashkari, Treasury's assistant secretary for international affairs, will soon be announced as the interim head of Treasury's new Office of Financial Stability. The official asked not to be identified by name because the selection has not been announced publicly.

more at news.yahoo.com ...

----------




Now we just need a VP from Lehman Brothers or Bear Stearns



http://www.treas.gov/organization/bios/kashka...
"Prior to joining the Treasury Department, Mr. Kashkari was a Vice President at Goldman, Sachs & Co. in San Francisco, where he led Goldman's IT Security Investment Banking practice, advising public and private companies on mergers and acquisitions and financial transactions."

Gee, there's a shocker.

[Red Ryder]

Pressured to take more risk, Fannie hit a tipping point

http://www.nytimes.com/2008/10/05/business/05...

10/5/08

A decision, made under pressure from Congress and investors, to steer Fannie Mae into dangerous corners of the mortgage market proved to be disastrous.

quote from the article:

"I’m not worried about Fannie and Freddie’s health, I’m worried that they won’t do enough to help out the economy," the chairman of the House Financial Services Committee, Barney Frank, Democrat of Massachusetts, said at the time. "That’s why I’ve supported them all these years — so that they can help at a time like this."

Barney (Rubble) Frank needs to be perp-walked

False Signatures Aided Fannie Mae Bonuses, Falcon Says

http://www.washingtonpost.com/wp-dyn/articles...

OUR "bailout" money at work:

HUD: Five Million Fraudulent Mortgages Held by Illegals
http://kfyi.com/pages/local_news.html...

[JBL]

This article is totally stupid. What difference does it make if the value of the house is less than what someone owes? It only makes a difference if you have to sell the house. Otherwise people need a place to live and, hopefully, eventually home prices will rise again. The media are idiots and just out to whip up more angst for everyone. The only intelligent thing in here is the financial advisor of the California couple who is advising them to keep making the payments on the house. Dumb and irresponsible reporting.

[Frustrated Taxpayer]

Throw the dumb bastards in the street.

Far too many Americans have been living in the world of "entitlement."

I say bring on the depression. I will survive; I am educated, hard-working and I understand how to set priorities with my family's budget.

Everyone stands with their hands open.

Forget these folks....let 'em freeze during winter.

[inaz]

Is Wittman still the coach? Then I aint watchin.

[John K]

http://kfyi.com/pages/local_news.html...

HUD: Five Million Fraudulent Mortgages Held by Illegals

[COPDd]

People need to calm down. You have to live somewhere. If you can afford the payments, ignore stories about your home being worth less than what you owe on it. The value will, eventually, come back. Only those who bought into something they can't afford are in real trouble. I feel bad for them but, Oh well! Start paying down your debt, save what you can, and hunker down for a long recession.

[COPDd]

I am the stupid one wrote:

"In July, Congress enacted legislation designed to help borrowers who owe more than their homes are worth by allowing them to refinance into a government-backed loan, provided their mortgage company forgives part of their principal."
I guess I should have spent the $400,000 I was approved for in 2001 instead of the $235,000 I actually spent. I guess I am the stupid one because the mortgage company nor the government is going to give me anything. They'll just raise my taxes and give it to others "in need". Oh ya, I also put 20% down. Dumb.

Your decision in 2001 reflects the fact that you probably have a good credit rating, got a low interest rate on your loan, and have very affordable house payments. While the rest of us struggle through this recession, you'll be socking away savings, and sleeping like a baby at night. Instead of complaining about how unfair life is, you should be patting yourself on the back & looking for opportunities.

[Big Laker]

COPDd wrote:

<quoted text>
Your decision in 2001 reflects the fact that you probably have a good credit rating, got a low interest rate on your loan, and have very affordable house payments. While the rest of us struggle through this recession, you'll be socking away savings, and sleeping like a baby at night. Instead of complaining about how unfair life is, you should be patting yourself on the back & looking for opportunities.

I think that was sarcasm.

[Super Wayne]

""The Kirschenmans, who both work for a company that makes trailer hitches, thought about sending the keys to the lender. But their financial planner, Christopher Olsen, helped persuade them to stick with the house, noting they could still afford the payments.""

They needed to be "persuaded" to NOT let their home go into foreclosure? Seriously? So your homes value fell. Whaaa! You think that alone is a reason to forclose? The payments are at a fixed rate and you were all good and dandy but somehow learning that your value dropped makes you think you should let it go to the bank? Holy cow we are a nation of whiners and sourpusses.

We need to tighten up the penalties on people like the ones above. Gimme a break.

[Big Laker]

From the story:
"No longer having equity in their homes makes people feel less rich and thus less inclined to shop at the mall."

This has got to be one of the stupidest lines I've ever read in a newspaper.

I'm not "less inclined to shop at the mall" because I feel "less rich." I'm "less inclined to shop at the mall" because 1). I've never bought into the fact that buying stuff can make me happy, and 2). the thought of having Barry H. as president scares the #$^% out of me.

[Grizzly Adams]

I am the stupid one wrote:

"In July, Congress enacted legislation designed to help borrowers who owe more than their homes are worth by allowing them to refinance into a government-backed loan, provided their mortgage company forgives part of their principal."
I guess I should have spent the $400,000 I was approved for in 2001 instead of the $235,000 I actually spent. I guess I am the stupid one because the mortgage company nor the government is going to give me anything. They'll just raise my taxes and give it to others "in need". Oh ya, I also put 20% down. Dumb.

You're not the only one.

[It was a simple fix]

This entire story is drivel.

They bought a house they could afford.

Then in an act of utter stupidity, they refinanced to pay off short term debt ( read credit cards, car loans etc ) If they were smart, they would have never done that. You should never mixed long term assets to get rid of short term assets.

Then the bubble burst and boo hoo the house is worth less than they paid for it, and much less than they refinanced it for. Now they are stuck with a negative equity.

People who don't have to sell their houses will feel no effect. People who have been using the magic equity in the over priced housing market to finance cars, cc debt and outings to Aruba should be foreclosed on with no relief. They were just plain stupid.

The bottom of the market is at least two or three years off.

[Downtown Resident]

Back in the Dot.Com craze (1999 to 2001), I met with this Rhodes Scholar who wanted to be my investment advisor. In sometime in 2000, I filled out an investment planning questionnaire and he got all excited, when he noted that my spouse and I had virtually paid off our mortgage. He told me I was nuts to have that much equity locked up in my home and that I should get a home equity loan and put the proceeds into the "hot" investment market.

I told him I had a friend at a private investment firm (a company that was way too rich to deal with my peanut investments) and that he did not like the Dot.Com stocks and predicted a major "correction." Rather than investing in Dot.Com stocks, or mutual funds with large investments in them, I had already moved my investments into mutual funds, that had little or no investments in Dot.Com stocks. I told him that and I could tell he thought I was a blithering idiot.

I capped it for him, when I said that my grandmother had told me to "own" my home. "What?" He said.

Well, her family did not have debt on their home when the great depression struck and they suffered a lot less than most and knowing they would have a roof over their heads was a great comfort. The planner would get back to me - clearly I was a "deadbeat" in his eyes.

Several months later, the planner was back (must have been a slow day). In the mean time, the Dot.Com stocks had gone super busted. He had a computer generated plan to review with me. But first, I asked him if he had actually talked anyone into taking equity out of their homes to by Dot.Com investments?

"A few," he said.

They still talking to you?

No answer and he was out the door in less than a minute.

There is nothing new under the sun.

[Keri]

Frustrated Taxpayer wrote:

Throw the dumb bastards in the street.
Far too many Americans have been living in the world of "entitlement."
I say bring on the depression. I will survive; I am educated, hard-working and I understand how to set priorities with my family's budget.
Everyone stands with their hands open.
Forget these folks....let 'em freeze during winter.

A few years ago I was talking with a few elderly people that lived in the depression. They actually told me that they think every generation should have to live in a depression because you learn in a big hurry how to live within you're means. They were just dumbfounded how us young people in general spend money and waste. Unfortunately, we live in a disposable society. Something breaks, we buy a new one (depending what it is). I'm not saying I'm hoping for a depression because that's FAR from how I feel, but I do agree with you.

[Julie]

My friends, McCain has the answers to these problems. After all, he has about 13 homes. He should know. McCain is the "#1 maverick" and he loves you. So, just be comfortable in your home. You situation is unfortunate but McCain feels your pain. He could have comfortably retired long ago. But, no. Why? He loves you. And, you just need to return his love by voting for him. My friends, you can trust the "maverick". He has had a very good relationship with our current President Bush. Certainly, he will follow Bush philosophy. And, what is wrong with that my friends. Thankyou, my friends for your support.