How low will the Market go before Bush acts?

[tim huntzinger]

Like 2001 when terrorists were in the final stages of the Planes Operation, as when Katrina was bearing down on New Orleans, Americans are being left to the wolves as Dubya commences his annual vacation at the Ranch.

Laissez faire is fine, but the bully pulpit of the White House is not without influence and should be used to calm the panic in the stock market.

I know that these things have their cycles, but for our leaders to be mute, blind, and deaf to the crisis is incredible.

[iplaw]

What would you like him to do?  Words really don't calm markets, unless they come from Bernanke.

What the hell is he going to say that's going to have any impact?  Sorry that you bunch of numb-skulls, living beyond your means bought houses that you knew you couldn't afford with the help of unscrupulous lenders...

You "hate bush" yahoos need to get a grip on yourselves and start living in the real world.

We left OURSELVES to the wolves dear Timmy and sometimes daddy can't bail you out.  Sometimes it's not his obligation.

[cannon_fodder]

lol, just start one thread that reads "I hate Bush, he causes everything."  Then I don't have to waste my time responding.

If Bush stepped in and did something, you would accuse him of bailing out all his "rich friends."

And what, in the hell, was Bush supposed to do to stop the planes from hitting the WTC?  You know, I bet if he would have stood up and shouted "NOOOOOOOOooooooooooo!" and then ran to the airport things would have come out differently.  Lives would have been saved for sure, because GW Bush would have saved us all.  good thinking.

And Katrina?  Are you serious.  The federal government did what they have always done.  Issued warnings a week ahead of time, issued evacuation orders 2 days ahead of time, and then sent in FEMA on their normal 3 day schedule.  Damn you George W. Bush for not overhauling our disaster relief agencies and not over riding the state and local governments and not forcing poor unarmed black people from their homes.  Damn you!

Bush is not a good president.  He has done little that gains favor with me, nor anyone else.  But not everything is his fault.  Trying to blame him for ridiculous things belittles the actual problems of his presidency (massive over spending, a war that continues to go poorly even after realizing our mistakes, ignoring real problems like social security's pending demise, continued erosion of civil liberties, increased secrecy of government, ongoing corruption allegations, hesitant and faltering foreign relations, decrease world influence... there is plenty of problems.  You don't need to try to pin other tails on the elephant).

Wasn't their an earthquake in Peru today, what did Bush do to cause that?

[Wrinkle]

quote:Originally posted by tim huntzinger

Like 2001 when terrorists were in the final stages of the Planes Operation, as when Katrina was bearing down on New Orleans, Americans are being left to the wolves as Dubya commences his annual vacation at the Ranch.

Laissez faire is fine, but the bully pulpit of the White House is not without influence and should be used to calm the panic in the stock market.

I know that these things have their cycles, but for our leaders to be mute, blind, and deaf to the crisis is incredible.

Wow!
The state of the current market is a result of similar anxiety attacks on the part of hedge fund operators, inexperienced broker/agents who expect every transaction to be a winner and financial media willing to go along.

There's no real crisis, other than perception by some who can influence the motion.

Good accumulaton opportunity.

You're crying "Wolf".
And then using the opportunity to bash Bush, as usual.

[Townsend]

quote:Originally posted by Wrinkle

quote:Originally posted by tim huntzinger

Like 2001 when terrorists were in the final stages of the Planes Operation, as when Katrina was bearing down on New Orleans, Americans are being left to the wolves as Dubya commences his annual vacation at the Ranch.

Laissez faire is fine, but the bully pulpit of the White House is not without influence and should be used to calm the panic in the stock market.

I know that these things have their cycles, but for our leaders to be mute, blind, and deaf to the crisis is incredible.

Wow!
The state of the current market is a result of similar anxiety attacks on the part of hedge fund operators, inexperienced broker/agents who expect every transaction to be a winner and financial media willing to go along.

There's no real crisis, other than perception by some who can influence the motion.

Good accumulaton opportunity.

You're crying "Wolf".
And then using the opportunity to bash Bush, as usual.

I offer that there is no need for an opportunity.

[rwarn17588]

I agree there's not much that can be done.

You have the toxic combination of credit-challenged people buying way more house than they can afford, plus overly permissive lenders signing off on them when they instead should have steered clients to more financially manageable properties. This sort of shakeout was inevitable.

Plus you have this stupid "bigger is better" mantra. Does a couple with one kid really need a 2,000-square-foot house, when a well-maintained 1,000-square-footer will do just fine?

Financial regulations likely will be tightened after this, as they probably should. But it's closing the barn door after the cows have already left.

[tulsacyclist]

This thread is funny.

[iplaw]

quote:Originally posted by rwarn17588

I agree there's not much that can be done.

You have the toxic combination of credit-challenged people buying way more house than they can afford, plus overly permissive lenders signing off on them when they instead should have steered clients to more financially manageable properties. This sort of shakeout was inevitable.

Plus you have this stupid "bigger is better" mantra. Does a couple with one kid really need a 2,000-square-foot house, when a well-maintained 1,000-square-footer will do just fine?

Financial regulations likely will be tightened after this, as they probably should. But it's closing the barn door after the cows have already left.

Agreed.

[cannon_fodder]

quote:Originally posted by rwarn17588


Plus you have this stupid "bigger is better" mantra. Does a couple with one kid really need a 2,000-square-foot house, when a well-maintained 1,000-square-footer will do just fine?

1000 Sq feet would not be large enough for my families purposes.  I'm crammed into 1400 as it is.  Small laundry area/entry way (10 feet long, 4 feet wide), small kitchen (5 feet wide, 12 feet long maybe), dining room (big enogh to just fit a 6 person nice table), living room (couch, easy chair, 2 sitting chairs, entertainment center - full), one bath (sink, toilet, shower - full), 2 bedrooms (master bedroom is big enough for a full bedroom set and we could fit a chest at the foot of our bed), and a small computer room (desk + computer and room for a blow up mattress on the floor for company).  I guess we could get rid of the computer room and put the computer stuff on the dining room table and eat at the coffee table...

Clearly I COULD get by with less.  I could live with one bedroom and my son could sleep in our bed.  But I sure don't want to.  I really don't want his room one wall away from mine and would like somewhere to throw some cards without being accosted by my wife after dark (no part of my house is further than 15 feet from any other part).

Bleh, I digress...

I'll certainly want 2000 sq feet when my son is a teenager.

[RecycleMichael]

"As you know President Bush is currently on vacation in Texas. He said he's going to try and do absolutely nothing for the next ten days. His advisors think this is the best way to bring his approval rating up. Just don't do anything." --Jay Leno

"President Bush is going on his annual vacation. The White House says he goes to his Texas Ranch to unwind. I'm thinking, when does he wind?" --David Letterman

"It turns out President Bush can run again in the next election. Now I know you're only supposed to be allowed two terms, but the Supreme Court said if you count his vacation time, he's barely served one." --Jay Leno

"President Bush earned $400,000 for his job as president last year. That's not really that much for being president when you think about it. But President Bush, he doesn't do it for the money, he does it for the eight months of vacation every year." —Jay Leno

[iplaw]

quote:Originally posted by recyclemichael

"As you know President Bush is currently on vacation in Texas. He said he's going to try and do absolutely nothing for the next ten days. His advisors think this is the best way to bring his approval rating up. Just don't do anything." --Jay Leno

You know.  His approval numbers are funny...that is until you see Congress'.  You should see how your democratic congress is doing in the polls if you want a really good laugh.

[RecycleMichael]

That is a bogus argument.

Congress has had a 30% or below approval rating for over ten years. Most of these were in years of a republican controlled Congress. Approval ratings for Congress have not been over 40% since Watergate.

Bush once had approval ratings in the high 70s even topping off at 84% in 2002.

[iplaw]

quote:Originally posted by recyclemichael

That is a bogus argument.

Congress has had a 30% or below approval rating for over ten years. Most of these were in years of a republican controlled Congress. Approval ratings for Congress have not been over 40% since Watergate.

Bush once had approval ratings in the high 70s even topping off at 84% in 2002.

And that's a bogus argument.  Bush's approval ratings were artificially high, as any president's would have been during that period of unprecedented solidarity after 9/11.

Congress is polling as low as 17% recently which is roughly half of 30%.  Pretty similar to the 36-34% that Bush is polling which is about 50% of his average high.

Congress has been just as dissapointing to the American people and the polls are showing it.

[Conan71]

quote:Originally posted by rwarn17588

I agree there's not much that can be done.

You have the toxic combination of credit-challenged people buying way more house than they can afford, plus overly permissive lenders signing off on them when they instead should have steered clients to more financially manageable properties. This sort of shakeout was inevitable.

Plus you have this stupid "bigger is better" mantra. Does a couple with one kid really need a 2,000-square-foot house, when a well-maintained 1,000-square-footer will do just fine?

Financial regulations likely will be tightened after this, as they probably should. But it's closing the barn door after the cows have already left.

This is somewhat similar to the promiscuity shown by the savings & loans back in the late 1970's and early 1980's.

Instead of it happening to smaller lenders who were controlled by businessmen and smaller investment groups with pretty loose regs, it's happened to larger institutional lenders with more investors.

This is cyclical.  Lenders get into a high-profit, high-return area, and kind of sort of neglect to really recognize the high risk which accompanies high returns.

There will be some sort of bailout forthcoming.  I'm still pissed that Congress ran through the bankruptcy reform act to mainly protect preditory credit card lenders.  Not that it's had any effect on me personally.  I just don't see how that was an interest well-served for the good of all people.

[tim huntzinger]

First, it would help if Dubya acted like he gave a rats butt.  Then he could raise the spending caps at Fannie and Freddie, maybe call an emergency meeting of his economic council.  He could dispatch Administrative talking heads to the media to explain the Administration's approach to the crisis (sticking to the reforms at Fannie and Freddie).

I think of Jack Nicholson in Mars Attacks, explaining to his Cabinet after Congress has been obliterated by the aliens . . . [SOUND CLIP HERE] . . .