When will someone stand up for the little guy. I am so sick of hearing bankers, pundits and politicians explain how poor people are to blame for the worlds trouble. This is so false. Anyone who argues these points are either lying, stupid or both. Poor people can only do what they are allowed. We have been sold out period. Look around and you can see. The have's take from the have nots.
The bailouts 1,500,000,000,000 went to the banks credit cards and God Knows where else. They have used our money in a fight to continue screwing us daily. You can not stop it. If we stop doing business with a company like Citi bank and they lose money they will pay off the politician's so they get bailed out. If you want something done by a congressman try "donating" money to them, this is what happens, except they pay off everyone. This is why credit cards charge 30% interest and why we now own AIG, GM, CITI, and the list continues. And when I say we own them it actually means they own us. So don' t expect any real change.
Showing posts with label AIG. Show all posts
Showing posts with label AIG. Show all posts
Thursday, May 14, 2009
Friday, March 27, 2009
Ignorance and laziness?
I recently came across this comment, that I can not ignore, posted on You Tube:
"This is the second video I have watched on this same topic. Ignorance and laziness will be the death of people. What happened to hard work and self control? America was founded by people that believed anyone can archive anything if they work hard and focus on goals. Just waiting for the government to help you with everything is stupidity and pathetic. I should not have to pay the government to help morons out. God Bless America." "It's time people take responsibilities for there own actions. Stop blaming everyone else. I own three homes and have owned others in the past. Each time before I closed the deal on the new purchase of the home I knew what I was getting into. I knew what type of loan I was signing up for and I knew what the payments would be. Only greed and ignorance will cause someone to purchase a home they can't afford. If you want a big house make sure you can afford it, If you want a small one do the same." "I am not a guru in wealth management but its only common sense don't buy things you cant afford. The Government is in the same boat, They are so deep in debt but yet they keep handing out money to people or business when those people or businesses should fail or go bankrupt. You learn lessons from failing I know I have. But the government does not seem to learn nor do some people. Instead my taxes will go up because of someone else's mistakes and stupidity. It may be rude but it's true."
The comment above was posted in response to the crisis in "Tent City"
After reading this response, I went to this persons profile and what I found was vacation videos. His profile states that "some things may get a little political" but that must have been drowned out somewhere between "Disney World" and "Birds flying on the beach"
What would this man know about laziness?
Do you know how much energy it takes to be on vacation and run three homes? How "greedy" of you people to want to buy a single house for your family!!
It was people like this jackass above that bought houses so they could brag about them. Banks want to lend more money, the bigger the loan the more money they make. The value of a house doesn't have much to do with the house itself. If a house that's worth $40,000 sells for $100,000 the other houses in that area are now worth a lot more than they were. The more houses that sale at higher prices, the higher the base price goes. The bulk of the outrageous home price increases occurred in tourist areas. Vegas, Florida, Coastal Carolina's and California were ground zero for the economic crisis. The people buying 2nd, 3rd homes and vacation spots contributed in rising cost's. They anticipated rental profits that never materialized due to the rising price of gas. As they defaulted on these loans or sold at a loss this caused the sub prime mortgage rate to increase. This is where people, such as the tenants of Tent City started getting screwed.
Their loans, the sub prime loans (Fannie and Freddy) went thru the roof. Forcing them to foreclose. If you are fortunate to have more than one house, you are allowed to negotiate the interest rate on the 2nd and 3rd house.
If you only have one your stuck paying what they want you to pay. As these people started loosing their houses, they have to cut back on spending. In turn, others were affected when businesses began to slow down and jobs had to be cut.
The loans themselves were insured by AIG.
AIG and other companies involved packaged these loans and borrowed $30 to every $1 that they held in collateral. They never anticipated the value of homes going down. If they did they didn't care because they were too big and the Government would be forced to bail them out. The truth is AIG, the large banks and the Federal Government are playing a money game at the expense of those with lower incomes.
The idea of letting certain businesses "fail or go bankrupt" is ignorant. AIG underwrites the insurance on the loans on millions of homes. If AIG goes under those millions of loans will be in default and banks big and small would go under as well. These loans are in the $billions. That might just be the reason for the bailout hmm...
As far as "paying to help these morons out" well, part of those people fought for you to have what you have now. If your "greed and ignorance" didn't cause you to buy all those houses they wouldn't need a hand out. They seem to be doing alright in Tent City, pulling together like that when they had nowhere left to go. Doesn't seem like they waited to be rescued, they took the initiative to provide for themselves with what little they had around them.
They need help. They are Americans. They did not ask to be forced into this situation. I cant imagine that anyone would want to be there. And you should be happy that they decided on trying to help themselves quietly in Tent City rather than commit to crime to get the bare necessities of life.
If it was left up to jackasses like this one, we would all be in Tent City.
"This is the second video I have watched on this same topic. Ignorance and laziness will be the death of people. What happened to hard work and self control? America was founded by people that believed anyone can archive anything if they work hard and focus on goals. Just waiting for the government to help you with everything is stupidity and pathetic. I should not have to pay the government to help morons out. God Bless America." "It's time people take responsibilities for there own actions. Stop blaming everyone else. I own three homes and have owned others in the past. Each time before I closed the deal on the new purchase of the home I knew what I was getting into. I knew what type of loan I was signing up for and I knew what the payments would be. Only greed and ignorance will cause someone to purchase a home they can't afford. If you want a big house make sure you can afford it, If you want a small one do the same." "I am not a guru in wealth management but its only common sense don't buy things you cant afford. The Government is in the same boat, They are so deep in debt but yet they keep handing out money to people or business when those people or businesses should fail or go bankrupt. You learn lessons from failing I know I have. But the government does not seem to learn nor do some people. Instead my taxes will go up because of someone else's mistakes and stupidity. It may be rude but it's true."
The comment above was posted in response to the crisis in "Tent City"
After reading this response, I went to this persons profile and what I found was vacation videos. His profile states that "some things may get a little political" but that must have been drowned out somewhere between "Disney World" and "Birds flying on the beach"
What would this man know about laziness?
Do you know how much energy it takes to be on vacation and run three homes? How "greedy" of you people to want to buy a single house for your family!!
It was people like this jackass above that bought houses so they could brag about them. Banks want to lend more money, the bigger the loan the more money they make. The value of a house doesn't have much to do with the house itself. If a house that's worth $40,000 sells for $100,000 the other houses in that area are now worth a lot more than they were. The more houses that sale at higher prices, the higher the base price goes. The bulk of the outrageous home price increases occurred in tourist areas. Vegas, Florida, Coastal Carolina's and California were ground zero for the economic crisis. The people buying 2nd, 3rd homes and vacation spots contributed in rising cost's. They anticipated rental profits that never materialized due to the rising price of gas. As they defaulted on these loans or sold at a loss this caused the sub prime mortgage rate to increase. This is where people, such as the tenants of Tent City started getting screwed.
Their loans, the sub prime loans (Fannie and Freddy) went thru the roof. Forcing them to foreclose. If you are fortunate to have more than one house, you are allowed to negotiate the interest rate on the 2nd and 3rd house.
If you only have one your stuck paying what they want you to pay. As these people started loosing their houses, they have to cut back on spending. In turn, others were affected when businesses began to slow down and jobs had to be cut.
The loans themselves were insured by AIG.
AIG and other companies involved packaged these loans and borrowed $30 to every $1 that they held in collateral. They never anticipated the value of homes going down. If they did they didn't care because they were too big and the Government would be forced to bail them out. The truth is AIG, the large banks and the Federal Government are playing a money game at the expense of those with lower incomes.
The idea of letting certain businesses "fail or go bankrupt" is ignorant. AIG underwrites the insurance on the loans on millions of homes. If AIG goes under those millions of loans will be in default and banks big and small would go under as well. These loans are in the $billions. That might just be the reason for the bailout hmm...
As far as "paying to help these morons out" well, part of those people fought for you to have what you have now. If your "greed and ignorance" didn't cause you to buy all those houses they wouldn't need a hand out. They seem to be doing alright in Tent City, pulling together like that when they had nowhere left to go. Doesn't seem like they waited to be rescued, they took the initiative to provide for themselves with what little they had around them.
They need help. They are Americans. They did not ask to be forced into this situation. I cant imagine that anyone would want to be there. And you should be happy that they decided on trying to help themselves quietly in Tent City rather than commit to crime to get the bare necessities of life.
If it was left up to jackasses like this one, we would all be in Tent City.
Thursday, March 26, 2009
Watching the stock market?
There are a ton of stock's out there now that are known to be BIG. Such as Citigroup, in Sep. of '08 the stock's worth was at $20 a share, right now it is selling at $2.63. Colonial Bancgroup inc. (cnb) was at $8 six months ago, today it is selling at a mere $.92. Even if you have never traded stocks before, you can do so easily using sites such as Scottrade, Ameritrade or Etrade. Personally I prefer Scottrade, their site is easy to use and they are alway's there to answer my question's.
Okay, so here is a simple breakdown of what a stock purchase could look like:
You have $1,000.
You purchase stock (we'll use cnb from above) at $.92.
You have enough money to purchase 1,079 share's ($992.68 invested, I'm using Scottades rate of $7 per trade)
Every penny that this stock gain's you will gain $10.79. (Now, keep in mind that the same applies when a penny is lost, you loose $10.79)
If cnb can climb back up to $8 you could be looking at a stock worth $8632.
What is so great about this is that you don't have to have a ton of money! You can purchase a great stock for as little as $500. (and chance's are you won't loose as much as you have lost in purchasing lottery ticket's)
Now that the Government is stepping up and people are looking into our economy more, it's only a matter of time before thing's start picking up, so even if you see a small decline here and there the long term could still pay off so don't freak out.
There are no gaurantee's that you will make money in the stock market. Yes, you could loose your money, but if you were going to take a chance in stock's there is no better time than now.
Okay, so here is a simple breakdown of what a stock purchase could look like:
You have $1,000.
You purchase stock (we'll use cnb from above) at $.92.
You have enough money to purchase 1,079 share's ($992.68 invested, I'm using Scottades rate of $7 per trade)
Every penny that this stock gain's you will gain $10.79. (Now, keep in mind that the same applies when a penny is lost, you loose $10.79)
If cnb can climb back up to $8 you could be looking at a stock worth $8632.
What is so great about this is that you don't have to have a ton of money! You can purchase a great stock for as little as $500. (and chance's are you won't loose as much as you have lost in purchasing lottery ticket's)
Now that the Government is stepping up and people are looking into our economy more, it's only a matter of time before thing's start picking up, so even if you see a small decline here and there the long term could still pay off so don't freak out.
There are no gaurantee's that you will make money in the stock market. Yes, you could loose your money, but if you were going to take a chance in stock's there is no better time than now.
Wednesday, March 18, 2009
Stop Blaming President Obama
Stop blaming Obama and start pitching in!
Have republicans lost it? First they pick a red neck Governor from the Ice age to be Vice President. Then they loose the election in a landslide. Next They nominate Micheal Steele to head the party. He immediately went after the "hiphop vote". Excuse me. I'm Steele laughing about that idea. The man is a train wreck, he shouldn't where shoes as often as he eats his feet. He will resign within six months or less.
This brings us to Rush Limbaugh of conservative talk radio.
Rush has been nominated head of the GOP by his base, bigots, rednecks and the misinformed. He uses their fear and anger to lead them. The man will say, anything to make money. But hoping Obama fails? That's insane! What do people get from this fat clown. You should always pay attention to how someone takes care of themselves, it tells you about the person they trully are.
But now they are blaming Obama for everything. If Planet Nibru comes they will blame that on the President also. The republicans think we are stupid as hell. They want us to get entangled in this AIG bonus bull.This would be counter productive, there's no real recourse. Although it makes for good television.
AIG can not go under they're too crucial to the world of finance. So get over it, we shouldn't be surprised anyway. This is what happens every time those that have, take from those don't. When allowed to, that why we should set strict rules with vigorous oversight. Simultaneously breaking the company down. Not all the way, but at least to the point where they no longer control the world markets.
The truth is Obama's plans are working and the economy IS going to pick up. He has a strong plan for housing that should start showing positive affect this year. The stimulus package, if handled correctly by the states (SOUTH CAROLINA) should spark a dramatic spike in the job market. Especially in construction and services. The biggest problem is the banks, they must lend money. We must do whatever it takes to help them become solid again. There's one thing I would like Obama to address and that's credit ratings. Certain debts should not count against you, like medical bills. Somethings you can't control. Besides, YOUR taxes fund state hospitals that foot the bill for illegals that dont have a credit score.
Don,t pop the Champagne yet. The republicans want us to forget about the last 8 years. We can't let that happened. Don't forget: 2 wars, touchier, Katrina, a war with no plan, Cheney, and the economy. This is a fraction of the known Bush failures. The republicans were with him lock and step.
So quit blaming Obama. Grab a hose or get out the way.
Have republicans lost it? First they pick a red neck Governor from the Ice age to be Vice President. Then they loose the election in a landslide. Next They nominate Micheal Steele to head the party. He immediately went after the "hiphop vote". Excuse me. I'm Steele laughing about that idea. The man is a train wreck, he shouldn't where shoes as often as he eats his feet. He will resign within six months or less.
This brings us to Rush Limbaugh of conservative talk radio.
Rush has been nominated head of the GOP by his base, bigots, rednecks and the misinformed. He uses their fear and anger to lead them. The man will say, anything to make money. But hoping Obama fails? That's insane! What do people get from this fat clown. You should always pay attention to how someone takes care of themselves, it tells you about the person they trully are.
But now they are blaming Obama for everything. If Planet Nibru comes they will blame that on the President also. The republicans think we are stupid as hell. They want us to get entangled in this AIG bonus bull.This would be counter productive, there's no real recourse. Although it makes for good television.
AIG can not go under they're too crucial to the world of finance. So get over it, we shouldn't be surprised anyway. This is what happens every time those that have, take from those don't. When allowed to, that why we should set strict rules with vigorous oversight. Simultaneously breaking the company down. Not all the way, but at least to the point where they no longer control the world markets.
The truth is Obama's plans are working and the economy IS going to pick up. He has a strong plan for housing that should start showing positive affect this year. The stimulus package, if handled correctly by the states (SOUTH CAROLINA) should spark a dramatic spike in the job market. Especially in construction and services. The biggest problem is the banks, they must lend money. We must do whatever it takes to help them become solid again. There's one thing I would like Obama to address and that's credit ratings. Certain debts should not count against you, like medical bills. Somethings you can't control. Besides, YOUR taxes fund state hospitals that foot the bill for illegals that dont have a credit score.
Don,t pop the Champagne yet. The republicans want us to forget about the last 8 years. We can't let that happened. Don't forget: 2 wars, touchier, Katrina, a war with no plan, Cheney, and the economy. This is a fraction of the known Bush failures. The republicans were with him lock and step.
So quit blaming Obama. Grab a hose or get out the way.
Is AIG to big to fail?
YES, AIG is that big. They are also to involved. I mean they have their hands in the most crucial elements of our financial industry. They are an insurance company for banks . What AIG does is insure loans and loans and loans on more diced up loans. A bank can take more than 1 loan and divide it into 3 4 5 or more parts. Mix the loan parts with other loan parts to create a new Frankenstein loan. That's the loan AIG insures. Now the bank borrows 40 dollars for every 1 dollars and invest it in to the housing market. If AIG goes under the the loans go under and not just the bad loans. A lot of the them are mixed together these loans are securities. So when the housing bubble burst AIG had to pay more than they had so they couldn't meet their debts. this is when Bush gave them 150,000,000,000 dollars. the problem with this is there was no strings attached a blank check. So far they have taken more than 200,000,000,000 dollars. Obama isn't going to let them keep operating business as usual. I expect massive change in the way we do business. This is not his fault but is his problem. And he will correct the problems, they cant continue to operate this way.
In one year AIG's stock has dropped from the high 70s, to a buck, although it's been moving up the last day or two. Look for this stock to continue to rise for at least while. I don't believe it will top 15 dollars any time soon but who knows anymore. Its probably a good time to buy, AIG stock is worth more than 2 dollars.
Here's the kicker AIG also sets the credit ratings.
In one year AIG's stock has dropped from the high 70s, to a buck, although it's been moving up the last day or two. Look for this stock to continue to rise for at least while. I don't believe it will top 15 dollars any time soon but who knows anymore. Its probably a good time to buy, AIG stock is worth more than 2 dollars.
Here's the kicker AIG also sets the credit ratings.
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