Perfect Storm - Page 9 - Political Fever

Finny · #81 (**permalink**) 03-08-2008, 12:42 AM

Quote:

Originally Posted by Affrayer

You just say the silliest things. How about the S&Ls were regulated by FHLBB and the Federal Reserves Banks weren't?

LOL... The FHLB is a non Governmental Agency, sorta like the FED. The FHLB set policy on lending, not policy on interest rates. The FED sets the National Interest rates which the FHLB follows.

Quote:

Originally Posted by Affrayer

How about at the time they couldn't make business and consumer loans? And their investments were limited to only residential property. The list is long and you have again embarrassed yourself...

Its a good thing you asked this. Since I've been explaining this to you for the last 5 days.

Quote:

In the 1980s, however, problems arose as interest rates soared in the face of an increasingly restrictive monetary policy, and savings and loans were faced a high percentage of their assets committed to low interest, long-term mortgages. In an effort to alleviate this problem Congress deregulated the industry and permitted savings and loans to pursue more risky activities. Predictably, thrift failures soared.FHLB

Wow, I've been saying this the whole damn time..

Quote:

Originally Posted by Affrayer

Personally I'm tired of wading through your BS and ignorance.

I am actually tired of you not reading or the lack of comprehension you have. I've laid out why higher interest rates are bad and how it effected the S&Ls. But it amazes me that a Liberal can be just as thick headed as G.W. Bush.. but not even see it.

Quote:

Originally Posted by Affrayer

Every one of those regulatory changes highlights the difference between S&Ls and Federal Reserve Banks.

If I were you, I would ask for a refund on your education...you got taken.

They are similar. Banks have savings accounts and loan. S&Ls are built on this as well. Banks fall under the FED directly, S&Ls fall under FHLB. They are all "non-Governmental" agencies. That are suppose to be safety nets.

Actually, my education does me quite well. But then again, I understand this stuff.

Affrayer · #82 (**permalink**) 03-08-2008, 09:46 AM

Quote:

Originally Posted by Finny

LOL... The FHLB is a non Governmental Agency, sorta like the FED. The FHLB set policy on lending, not policy on interest rates. The FED sets the National Interest rates which the FHLB follows.

Wow, how quickly you forget that you blundered and said: "Banks and Savings & Loans are the same thing. Just a different in name."

And again you're wrong:

Quote:

Originally Posted by Source

Instead, Congress attempted to stabilize thrift deposit, profits, and home construction by controlling interest rates in the Interest Rate Control Act of 1966. Regulation Q allowed the FHLBB to set limits on rates paid on deposits, and through collaboration with the Fed, set rates paid on savings slightly higher than the rate limits placed on banks (known as the thrift differential). The interest rate ceilings placed on deposit rates did not eliminate competition, but instead increased non-price competition and encouraged entry by unregulated financial institutions (unregulated competitors) that offered alternative investments, such as money market mutual funds. Funds continued to move out of banks and thrifts, reducing the amount available for these institutions to lend, increasing interest rates, and creating the credit crunches of 1966, 1969, 1974 and 1979. Market interest rates continued to rise during the late 1970s, further exacerbating the disintermediation problem.

You're such an embarrassment...

Quote:

Its a good thing you asked this.

I didn't ask. I made declaratory statements based on facts. You should try it sometime. Wait, you did, you said: "Banks and Savings & Loans are the same thing. Just a different in name." Only where's the facts?

Quote:

Wow, I've been saying this the whole damn time..

Yes, the whole time you've made statements like: "Banks and Savings & Loans are the same thing. Just a different in name."

Quote:

I am actually tired of you not reading or the lack of comprehension you have.

But I do read what you say. I read: "Banks and Savings & Loans are the same thing. Just a different in name."

Quote:

They are similar.

Nope, that's not what you said: "Banks and Savings & Loans are the same thing. Just a different in name." I don't see any mention of similarities.

Quote:

Actually, my education does me quite well. But then again, I understand this stuff.

Whoo Whee that's one hilarious stink pie...

Finny · #83 (**permalink**) 03-08-2008, 07:04 PM

Ah lad.. you are digging yourself a hole here. I explained the similarities (they are the same). Both deal with Savings Accounts and Loans. Both give an interest to get people to save with them. They do this so they have more capital to loan.

Its the same damn thing. You are the first person I've ever heard of saying they are totally different.

Your source has nobody taking credit for it or even sources to verify the statements made. Looks like a dissertation and those are a matter of opinion with facts to support the opinion.. But then again you take your information from Wiki. So it seems logical to you.

Again.. you fail to connect the dots. I've been telling you this stuff from the start. I'll even quote your half assed source.

Quote:

Regulation Q allowed the FHLBB to set limits on rates paid on deposits, and through collaboration with the Fed, set rates paid on savings slightly higher than the rate limits placed on banks (known as the thrift differential).

First off I stated from the start it was the FED who controls interest rates and that the S&Ls community was given special treatment, the ability to offer higher Interest rates on deposits (that means savings.).

Secondly it states collaboration. Collaboration means "To work together, especially in a joint intellectual effort".

The FHLBB didn't decided National Interest Rates. The Fed did. What the FHLBB did was use the power given to them BY THE FED to given just a little bit more interest for deposits (Savings).

The FED is the brain child behind every damn Economic decision made in this country. They control the monetary policy, the printing of the money, and the interest rates. Not to mention a bunch of other things.. like complying all the data on Federal ran groups such as Freddie Mac and Fannie Mae, FHLBB, and even unemployment as its the FEDs job to keep the economy stable and PROMOTE GROWTH.

Affrayer · #84 (**permalink**) 03-08-2008, 08:19 PM

Quote:

Originally Posted by Finny

You are the first person I've ever heard of saying they are totally different.

And you lie again. I never said they were totally different...

Ta Ta

Affrayer · #85 (**permalink**) 03-09-2008, 08:33 AM

As US economy bleeds, Fed grasps for solutions - International Business-News-The Economic Times

Quote:

WASHINGTON: As more signs point to a US economy that is sinking fast, the Federal Reserve is struggling to find ways to reignite growth even as confidence wanes among consumers, businesses and banks, analysts say.

As the Fed unveiled a series of efforts to get credit flowing after stunningly weak labor data, some analysts said the central bank's efforts may have little positive impact and threaten to erode its inflation-fighting credentials.

There are no solutions. Bush's foolish and ignorant economic policies have burned out the economy...

Bush admits slowdown in economy-USA-World-The Times of India

Quote:

WASHINGTON: President George Bush acknowledged "our economy has slowed" as American employers slashed 63,000 jobs in February, the most in last five years, but claimed a stimulus package could help stem the tide.

Bush's "cough cough" stimulus package won't even cover the increased costs of gas and food the American consumer is faced with...but at least the moron realizes he can't keep lying about the economy now.

Affrayer · #86 (**permalink**) 03-09-2008, 08:56 AM

Boy, what a difference a year makes...

Economic Outlook

Quote:

RBC CASH Index conducted by Ipsos Public Affairs

Data are from surveys of 1,000 adults nationwide. (methodology)

Interviewing
End Date CASH INDEX
(Jan. 2002 = 100)

3/5/08 33.1
2/6/08 48.5
1/9/08 56.3
12/5/07 65.9
11/7/07 64.0
10/3/07 80.6
9/12/07 71.1
8/8/07 89.3
7/11/07 76.1
6/6/07 81.4
5/07 87.1
4/07 85.4
3/07 92.3
2/07 103.0

rbc.com - RBC Financial Group - Media Newsroom

Quote:

The RBC CASH Index (Consumer Attitudes and Spending by Household) Index is a monthly national survey of consumer attitudes on the current and future state of local economies, personal financial situations, savings and confidence to make large investments. The survey, which has been in existence since 2002, will be released at the end of the first, full week of each month.

Affrayer · #87 (**permalink**) 03-10-2008, 04:48 AM

Dangerous Cracks Appearing in Job Market - Business on The Huffington Post

WASHINGTON — Dangerous cracks in the nation's job market are deepening. Employers slashed jobs by the largest amount in five years and hundreds of thousands of people dropped out of the labor force _ ominous signs that the country is falling toward a recession or has already toppled into one.

Now you can believe this, that after seven years all of a sudden dangerous cracks in the nation's job market are deepening or you can believe the alternative, that after seven years of mismanagement and incompetence the lies used to cover it up no longer are working. That long term unemployment can no longer be ignored. That we are losing high paying manufacturing jobs and replacing them with an anemic amount of do nothing service jobs.

Let's try a little math. Over the last seven years the Bush administration has managed to create 5 million jobs. And during that same period the population of illegal migrant workers has gone from 7 million to 12 million, also a gain of 5 million. Finally, during that same period the population of American workers has grown about 8 million. Do the math. The population of workers that don't have jobs in America has grown about 8 million people. This didn't happen overnight but has been going on steadily for the last seven years.

Sure does look like the lies the Bush administration has been telling about employment in America for the last seven years are no longer working...

Affrayer · #88 (**permalink**) 03-11-2008, 08:19 AM

Slowing economy failing to brake gasoline prices -- chicagotribune.com

See how screwed we are? Even a recession isn't going to help....

Affrayer · #89 (**permalink**) 03-12-2008, 06:27 AM

The Associated Press: Stocks Shoot Higher on Fed Credit Plan

NEW YORK (AP) — Wall Street finally found a reason for a huge rally Tuesday after the Federal Reserve said it plans to pump $200 billion into the financial markets to help ease the strain from the credit crisis. The Dow Jones industrial average shot up more than 416 points, its biggest one-day point gain since July 2002.

The Fed's program is part of a worldwide effort to help struggling banks and mortgage providers. The Fed — acting in concert with the European Central Bank, the Bank of Canada and the Swiss National Bank — agreed to loan investment banks money in exchange for debt, including slumping mortgage-backed securities.

Did we just bail out the banks by buying up all that worthless subprime crap? Wait, there's a wrinkle:

The central bank's plan basically allows Wall Street's biggest institutions to put up troubled assets as collateral for loans, use the new capital to make money in the market, and then pay back the loan up to 28 days later. Though eventually banks would be forced to take the troubled mortgage-backed debt back on their books, the plan still takes short-term pressure off them. Many of these banks will release first-quarter earnings reports next week.

I guess we'll have to wait and see what happens in 28 days. My guess, Bush will try and make these loans permanent...in other words, we just bought 200 billion dollars of worthless debt that we'll end up paying for Bush's mistakes again. I find it hard to believe those banks want to take back the worthless subprime paper.

But until then the banks are using the 200 billion to prop up the Stock Market which climbed over 400 points today...which means if they really are forced to pay off the loans with cash, in about 28 days the stock market will collapse...

In other words, Bush either bought 200 billion dollars of worthless subprime debt and bailed out the banks or in 28 days the stock market will collapse as the banks scramble to pay back the money. I can't wait to see how Bush will skull f**k us this time.

Affrayer · #90 (**permalink**) 03-12-2008, 10:47 AM

Bloomberg.com: Worldwide

March 12 (Bloomberg) -- The dollar fell to a record below $1.55 per euro on concern that the Federal Reserve's plan to provide funds to banks won't be enough to break the gridlock in money-market lending and stem credit losses.

A rowdy round of BS...the FED can't throw away 200 billion on worthless subprime paper and not cause the dollar to lose value.

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