Friday Night’s Free-For-All

November 7th, 2009, 12:00 AM EST

Posted in Liberaland by Alan

Responses to this post...

  1. (((Whisperin’ Bill Anderson.)))

    Posted by anonymouse
    November 7th, 2009 at 12:07 am

  2. A bag of sand?

    burqa Reply:
    November 8th, 2009 at 5:14 pm

    “I can help you get that apprrrrroved, you know…”

    Posted by burqa
    November 7th, 2009 at 12:29 am

  3. NEW YORK (Reuters) – Freddie Mac, the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a “prolonged deterioration” in housing.

    The home funding company’s loss comes amid a rise in provisions for credit losses to $7.6 billion in the quarter, up 46 percent compared with the previous quarter, as delinquencies worsened on loans it guarantees.

    Its larger rival Fannie Mae on Thursday said it would need $15 billion from the U.S. Treasury after a whopping $18.9 billion third-quarter loss.

    Results at Freddie Mac and Fannie Mae are widely watched as a barometer of the U.S. housing market since they own or back nearly half of outstanding mortgages.

    The losses have presented a dilemma to Congress as it wants to protect taxpayers’ money but is also counting on the companies to undertake foreclosure prevention efforts which are significantly adding to expenses

    Sa-weet

    flap Reply:
    November 7th, 2009 at 12:44 am

    Billions? Chump change with all the money that’s being printed now.

    anonymouse Reply:
    November 7th, 2009 at 1:09 am

    AIG got $180 billion … before I lost count.

    And similar checks were written to Citi, JPM, GS, BAC, ………

    The GSEs Freddie/Fannie are small timers and failed at even stealing from the government. Can’t government/GSEs do anything right?! Think bigger like Wall Street does!!!

    John Galt Reply:
    November 7th, 2009 at 1:11 am

    AIG got $180 billion … before I lost count.

    And similar checks were written to Citi, JPM, GS, BAC, ………

    Yup. Bush got that wrong; we were against that.

    anonymouse Reply:
    November 7th, 2009 at 1:23 am

    I don’t remember the exact numbers, but in round terms Wall Street has us on the hook for trillions of dollars.

    Some funds/obligations have gone into direct bailouts (checks) and some of the “wealth transfer” was in the form of moving Wall Street’s bad debts from their books on to the US govenment’s books.

    Fannie/Freddie at least do some public good. Wall Street exists only for the good of itself.

    Privatize the profits, socialize the risks.

    John Galt Reply:
    November 7th, 2009 at 1:28 am

    Fannie/Freddie at least do some public good.

    They do NO good. Fan and Fred are the ultimate in socializing the risks.

    burqa Reply:
    November 7th, 2009 at 1:29 am

    Jerome Corsi sez don’t worry about it anyhoodles because the Earth is gonna blow up in 2012 anyways cuz of the Mayan calendar, so spend! spend! spend!

    anonymouse Reply:
    November 7th, 2009 at 1:55 am

    Fannie/Freddie account for 3/4 of loan originations.

    Yes, they do “good”.

    John Galt Reply:
    November 7th, 2009 at 1:05 pm

    Freddie Mac has taken $51.7 billion since then while Fannie Mae’s draw will rise to $60.9 billion.

    Yikes.

    John Galt Reply:
    November 7th, 2009 at 1:07 pm

    Fannie/Freddie account for 3/4 of loan originations.

    That’s weird. I think that loaning money to people who have virtually no chance in paying it back is a bad thing.

    Then again, maybe anon enjoys this current recession [though to be fair, I would guess we are out of it as of June-July].

    TDro319 Reply:
    November 7th, 2009 at 1:30 pm

    “I think that loaning money to people who have virtually no chance in paying it back is a bad thing.”

    Like Wall Street? On that note, I say we don’t socialize healthcare. I say we keep subsidizing the fat cats on Wall Street and damn the poor and middle class!! If they weren’t smart enough to be born into money, start their own business and become millionaires who collect welfare themselves, they deserve to die!!!

    John Galt Reply:
    November 7th, 2009 at 1:34 pm

    Like Wall Street?

    Wall Street are a bunch of greedy money grubbing turkeys! I guarantee you, that group of people are THE least likely group of people to hand money over to someone that has no chance of paying it back. Simply bad business.

    GuidoVanHorn Reply:
    November 7th, 2009 at 2:04 pm

    I don’t think that’s true John. Big business has a long history of making bad deals. and often they do it for short term gain in spite of the well known fact that it will bring long term pain. Because those that make the decision will make off handsomely and not really suffer the consequences.

    Sometimes the best personal decision screws everyone else.

    John Galt Reply:
    November 7th, 2009 at 2:26 pm

    Big business has a long history of making bad deals. and often they do it for short term gain in spite of the well known fact that it will bring long term pain.

    I agree. But those businesses go out of business. I am referring her to Fan and Fred. And they’ll NEVER go out of business. And THAT’S the problemo.

    GuidoVanHorn Reply:
    November 8th, 2009 at 11:31 am

    but they don’t go out of business many times…(usually because the govt. bails them out) Chrysler probably should have gone away permanently years ago.

    We have a whole bunch of financial institutions that are around solely by luck and/or govt. intrusion. some of these businesses made horrible deals that screwed the entire country some people much worse than others, but it affected everyone.

    True, fanny and freddie are never going anywhere as long as the govt. wants them to be around. but they aren’t the solely complicit entity in the crisis.

    Posted by John Galt
    November 7th, 2009 at 12:41 am

  4. Man accidentally ejects himself from plane

    http://www.iol.co.za/general/news/newsprint.php?art_id=iol1257142663577E223&sf=

    Made me laugh.

    burqa Reply:
    November 7th, 2009 at 1:27 am

    Hmmmmmmmmmmmmmmmmmmmmmmmmmmm, I wonder what this thing does…..

    GuidoVanHorn Reply:
    November 8th, 2009 at 5:30 pm

    I heard the person was trying to grab onto something during a particularly dramatic maneuver. grabbed onto the wrong thing.

    Posted by flap
    November 7th, 2009 at 12:49 am

  5. http://www.huffingtonpost.com/2009/11/05/swine-flu-vaccine-banks-g_n_346907.html

    While thousands of at-risk Americans wait, some big Wall Street banks have already secured the hard-to-find H1N1 vaccine for their employees.

    Building on a story that BusinessWeek broke, NBC reports that employees at the New York Stock Exchange, bankers at Goldman Sachs and Citigroup, and employees at the Federal Reserve have all received swine flu vaccine doses to administer to their employees.

    Sa-weet!!! Bankers rule!!! Serfs … don’t!!!

    John Galt Reply:
    November 7th, 2009 at 1:08 am

    Sa-weet!!! Bankers rule!!! Serfs … don’t!!!

    WASHINGTON – President Barack Obama’s daughters, Malia and Sasha, have received their swine flu shots.

    TDro319 Reply:
    November 7th, 2009 at 3:21 pm

    Wow! Sasha and Malia got flu shot? That’s terrible. I think the republican senators who receive socialized medicine but who deny the American people the same right, should be first in line to get the flu shot.

    John Galt Reply:
    November 7th, 2009 at 1:30 am

    huffingtonpost

    Didn’t even notice the huffpo link; nice.

    Good to see where you get your news.

    anonymouse Reply:
    November 7th, 2009 at 2:13 am

    I saw the original story on Bloomberg or the WSJ but I couldn’t find it again. The Google took me to HuffPo, which is better anyway.

    HuffPo took the populist tone. The business press treated the story in the way you’d expect them to, “bankers rule – serfs don’t”.

    TDro319 Reply:
    November 7th, 2009 at 3:18 pm

    And who deserves the flu shot more than average hard working Americans? The big welfare collecting Wall Street Banks – that’s who!

    Posted by anonymouse
    November 7th, 2009 at 1:01 am

  6. Sometimes I think but I just don’t know……….

    Posted by burqa
    November 7th, 2009 at 1:08 am

  7. http://en.cop15.dk/

    burqa Reply:
    November 7th, 2009 at 1:54 am

    For you, jazmine:

    http://www.last.fm/music/The+Velvet+Underground/_/Pale+Blue+Eyes

    jazmine Reply:
    November 7th, 2009 at 2:01 am

    Awe, that is very sweet Burqa…thank you very much!

    I needed that:)

    jazmine Reply:
    November 7th, 2009 at 2:08 am

    The laughter…:)

    burqa Reply:
    November 7th, 2009 at 3:43 pm

    Gladly, jazmine, it is one of my favorites and somehow I guessed you’d enjoy it. I don’t know, it just popped into my head (I have blue eyes, by the way). I am happy to have pleased you…….

    jazmine Reply:
    November 7th, 2009 at 6:25 pm

    I like blue, mine are more green.

    burqa Reply:
    November 8th, 2009 at 5:16 pm

    (burqa hastily scribbles – “Jazmine – green eyes,” and then he looks wistfully toward the horizon….)

    Posted by jazmine
    November 7th, 2009 at 1:39 am

  8. What do you think about the Iron Pipeline?

    Posted by mikeb302000
    November 7th, 2009 at 4:22 am

  9. Holy Cwap..LOL..you NEED to see this http://tv.yahoo.com/blog/glenn-becks-appendicitis-scare-inspires-jon-stewart-to-artfully-parody-him–763

    OldLefty Reply:
    November 7th, 2009 at 10:52 am

    LUV2LIFT48,

    Everybody I know saw that skit……

    That discussion seems to to between those who have never seen Glenn Beck, (Come on, Stewart HAS to be OVERacting), and those who HAVE seen Glenn Beck (No, he’s REALLY that much of a buffoon).

    TDro319 Reply:
    November 7th, 2009 at 1:44 pm

    LOL!!! That was way too funny. Thanks for posting it, Luv2Lift.

    GuidoVanHorn Reply:
    November 7th, 2009 at 2:01 pm

    it was funny…

    Posted by luv2lift48
    November 7th, 2009 at 10:47 am

  10. Ha ha ha, “backward robes.” Great stuff.

    Posted by flap
    November 7th, 2009 at 12:01 pm

  11. I don’t necessarily think there should be background checks at all, but if we DO have them, it doesn’t make sense not to have them at gun shows.

    GuidoVanHorn Reply:
    November 7th, 2009 at 12:44 pm

    it’ll be the end of gun shows…goodbadorindifferent.

    Posted by flap
    November 7th, 2009 at 12:03 pm

  12. “I don’t necessarily think there should be background checks at all,,,”

    I agree. It’s unconstitutional! Anybody should be allowed to purchase an armour piercing firearm without being subjected to those pesky background checks, and use it to kill 13 people. THAT’S the conservative republican America I love!

    GuidoVanHorn Reply:
    November 7th, 2009 at 1:59 pm

    unrelated yet related question.

    Do you think city councils should be able to pass laws that dictate how and where you park vehicles on your property?

    libpatriot Reply:
    November 8th, 2009 at 5:35 pm

    Sure. Some people here in Tucson had the habit of parking broken-down vehicles on their lawns for months or years befor the council passed a law against it. If enough people don’t like it, they can work to vote those council members out, I figure. Most people here seem to like that law, though.

    GuidoVanHorn Reply:
    November 8th, 2009 at 5:47 pm

    why does it bother anyone else if someone chooses to park their broken down car on their lawn?

    libpatriot Reply:
    November 8th, 2009 at 6:02 pm

    image-consciousness; the idea that it makes our town look too “low-life” to allow people to do that

    GuidoVanHorn Reply:
    November 8th, 2009 at 10:41 pm

    does that really affect you in any meaningful way?

    would you support a law saying you can’t own property you don’t live on?

    burqa Reply:
    November 8th, 2009 at 10:52 pm

    Having a neighborhood with broken-down cars up on blocks in the yard sends surrounding property values down…

    Posted by TDro319
    November 7th, 2009 at 1:49 pm