I'm going to move what little I have from BofA to a small, local bank this week. I missed getting my 401K out of the casino. I'd like to beat this next calamity. Although I'm way under the FDIC limit for protection, I'd rather not have to worry at all about some part of my personal finances.
Posted by eRobin at February 21, 2009 08:18 AMAnd the county judge, who held a grudge
Will search for evermore
For the bankers on the run, bankers on the run, bankers on the run, bankers on the run
Our house is paid for, so how can WE cash in?
Posted by TIKI AL at February 21, 2009 11:23 AMOh, come on paradox. Turn that frown upside down!
Remember the hope'n change....
Posted by Bagley at February 21, 2009 02:58 PM"The beneficiaries of taxpayer charity will be highly concentrated in just five states - California, Nevada, Arizona, Florida and Michigan. That is not because the subsidized homeowners are poor (Californians with $700,000 mortgages are not poor), but because they took on too much debt, often by refinancing in risky ways to "cash out" thousands more than the original loan. Nearly all subprime loans were for refinancing, not buying a home."NYP
Over at CNN they have a map showing where most of the foreclosures are...the map looks a lot like Obama's victory map last November with the only exception being Arizona.
We are mellower versions of the Clint Eastwood character in “Gran Torino.” We just want to be left alone –- by government especially.
"The very change that swept Democrats into D.C. will surely sweep them away again if they squeeze ordinary citizens too much to pay for the failings of others."
***
"Feb 20 2009, 9:29 am by Charlie Cook
Whose Downturn? At What Point Will the Public Blame the Recession on Obama Instead of Bush?
The relentlessly bad economic news in recent days raises an important political question: How long does former President Bush keep ownership of this recession?
At this stage, voters have no doubt that the recession started on his watch. Yet plenty of blame deserves to be laid at both ends of Pennsylvania Avenue, and that blame extends to administrations of both parties, not to mention government-supported enterprises and mortgage companies.
...
Should the recession last twice as long as the worst downturns since the Great Depression, or 32 months, it would extend into July 2010, or just over three months before the 2010 midterm elections. And although Bush still has ownership of the recession today, at some point next year, if the economy has not clearly bottomed out and started improving, ownership would transfer to Obama. All of the new president's actions would have had a year and a half to have worked. And if they haven't by then, he would begin to get the blame."
***
Nice to see you have your house in order Doxie. Congrats!!! I hope to be following your example very soon. Little spending these days, paying down the bills as fast as we can.
What is the difference between Jesus and Barack Obama?
One was a carpenter and the other couldn’t put a Cabinet together.
Posted by peter at February 21, 2009 09:06 PMWhat's the difference between a peter and a real dick?
...none
Posted by TIKI AL at February 21, 2009 11:12 PMpoor pants pissing peter, he doesn't even understand that people do NOT read his crap
you're a waste of oxygen and electrons
Posted by gay veteran at February 22, 2009 12:50 PMApparently delusional pukes like ppp and bagbot still buy the chimp propaganda whereby they are "creating reality" we will all be better off when pukes are properly medicated..
Posted by headxray at February 22, 2009 01:23 PMIf we were in the position the bankers and politicians were in for the last decade, would any of us be so willing to give the stench of power up? Human nature. We fear what we don't understand and change in mega doses is anathema to our senses.
Roubini and a few others saw the freight train coming but D.C. and Wall Street looked the other way until the inevitable was upon us. Dr. Nancy Kubler-Ross wrote the book " On Death And Dying", and outlined the stages we as humans face when confronted with our own end. We are now leaving the depression stage and acceptance is upon us.
Roubini saw what we couldn't imagine. That being that the banks that make up the composition of the Federal Reserve, were bloated, over extended and headed for insolvency. What is a sovereign government to do? That is where we are at this moment in time and the die has been cast.
Personally I don't fear nationalization whether temporary or permanent and hopefully the latter because this was the gift that the founders gave us. A money system that was controlled by we the people not a run for profit system that could easily be lead astray by those who would take advantage all in the name of profit for the few at the top.
Those complaining the loudest like the talking heads on CNBC fear for their friends in the hallowed canyons of Wall Street. No more golden parachutes, private jets, spa junkets or hundreds of millions in bonuses paid for a job well done. Now they will have to answer to a higher authority. We the American people.