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Overrun with hate mail.
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keycocker



Joined: 10 Jul 2005
Posts: 3525

PostPosted: Wed Oct 20, 2010 11:08 pm    Post subject: Reply with quote

'...that Americans are naturally left or right...
Us old guys remember that there were once Conservative Dems GOP liberals and a Lincoln GOP group who were gay.
The partisan hate- all GOP right all Dems left is a very recent example of the breakdown America is going through.
It isd making us weaker and our enemies are happy about this.
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coboardhead



Joined: 26 Oct 2009
Posts: 2034

PostPosted: Wed Oct 20, 2010 11:21 pm    Post subject: Reply with quote

I sometimes get the feeling it isn't about hate as much as competition.

We love a good sporting event. It's fun when our side wins! Go Blue! Go Red! But Purple?

At least for those of us in the middle.
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dperzinski



Joined: 04 Aug 2001
Posts: 156

PostPosted: Thu Oct 21, 2010 8:35 am    Post subject: Reply with quote

Yeah coboardhead, I remember the day after the Bush-Kerry election. I still had my Kerry bumper sticker on my car. A guy leaned out of his window to give me the victory fist pump and had a big ol' grin. It wasn't mean spirited at all, it was just fun for him that his theam won. I kinda smiled and hung my head like I was ashamed of my team. We both enjoy the spirit of the moment.
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isobars



Joined: 12 Dec 1999
Posts: 14484

PostPosted: Thu Oct 21, 2010 8:55 am    Post subject: Reply with quote

dperzinski wrote:
There are many types of lefties: environmentalist, union guys, radicals, centrist, bleeding hearts, etc., that form a coalition before they send someone to office, just as there are many types of righties.

I think if we understood this better, we wouldn’t be so hateful.


The left clearly misunderstands the origin of any hate that exists. The right doesn't hate the left; it hates their BEHAVIOR.
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boggsman1



Joined: 24 Jun 2002
Posts: 3703
Location: at a computer

PostPosted: Thu Oct 21, 2010 9:09 am    Post subject: Reply with quote

dperzinski wrote:
Yeah coboardhead, I remember the day after the Bush-Kerry election. I still had my Kerry bumper sticker on my car. A guy leaned out of his window to give me the victory fist pump and had a big ol' grin. It wasn't mean spirited at all, it was just fun for him that his theam won. I kinda smiled and hung my head like I was ashamed of my team. We both enjoy the spirit of the moment.

Little did you know at the time, we were a couple years away from the apocalypse of the American financial system. I really wish big John had won, things may have been better.
little factoid, DOW close to two year , post Lehman high, as we speak.
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coboardhead



Joined: 26 Oct 2009
Posts: 2034

PostPosted: Thu Oct 21, 2010 9:14 am    Post subject: Reply with quote

Hey Boggsman:

Do you think Kerry could have done something that late in the game. It seems to me that the banking industry does not change direction very quickly.

The regulations that allowed the collapse may have needed this sort of jolt to get attention!
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boggsman1



Joined: 24 Jun 2002
Posts: 3703
Location: at a computer

PostPosted: Thu Oct 21, 2010 9:39 am    Post subject: Reply with quote

I dont know, probably not. The one thing he could have done was to regulate non-bank lenders. Ameriquest, one of the worst originators in subprime history, spent over 1mm to re-elect W, and got rewarded as the CEO was named Ambassador to Holland , after the company blew up. W was not going to touch the subprime origination mess, which really got humming in 2005, then in 2006 the USA had its worst origination-securitization year ever, which set the stage for the melt down.
If Kerry had brought in a hawk like Volker, the weak dollar-inflation trade would have collapsed, and the massive spike in real estate would not have occurred in 2005. Sarasota Florida home prices went up 35% in 2005, down 36% in 2006. This craziness could have been prevented. I was screaming and yelling when Greenspan sat idle throughout 2004, and left the funds rate at 1%. His fear was effecting the election , the way he may have in 1992, when he raised rates. I think Dick C. took Greeny behind the woodshed and grabbed him by the lapel, and told him to sit tight until 2005.
So, maybe , maybe not. I do know that a lot of my short selling buddies built a statue of W in their front lawns because he was the stock markets' worst nightmare. The best daily blog to bookmark is Barry Ritholz's BigPicture. No nonsense, no political slant, just straight forward facts.
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coboardhead



Joined: 26 Oct 2009
Posts: 2034

PostPosted: Thu Oct 21, 2010 9:47 am    Post subject: Reply with quote

Thanks for a great explanation.

It's funny, I noticed some of this going on and thought it did not add up, but really had no idea of the magnitude of the situation!
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boggsman1



Joined: 24 Jun 2002
Posts: 3703
Location: at a computer

PostPosted: Thu Oct 21, 2010 9:55 am    Post subject: Reply with quote

It was crazy. Historically 30 year fixed rate mortgages make up 90% of all originations. In 2005-2006 that number dropped to below 50%, in fact , many mortgage brokers didnt even quote them, crazy crazy stuff. Historicaly subprime made up less than 5% of all origiantions, in 2005-2006 it rose to over 30%, thats right 1/3 of all originations went to subprime borrowers. Historically, mortgage default rates are around 2%, currently we are clipping at about 7%, I'd say thats a few standard deviations !
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feuser



Joined: 29 Oct 2002
Posts: 1395

PostPosted: Thu Oct 21, 2010 9:58 am    Post subject: Reply with quote

boggsman1 wrote:

... The best daily blog to bookmark is Barry Ritholz's BigPicture. No nonsense, no political slant, just straight forward facts.


Thanks, Boggsy. Great read.

_________________
florian - ny22

http://www.windsurfing.kasail.com/
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