Comments on: Taxpayers- Keep Those Wallets Handy http://housingdoom.com/2007/10/30/taxpayers-keep-those-wallets-handy/ Sat, 11 Feb 2012 07:12:54 +0000 hourly 1 http://wordpress.org/?v= By: austin_real_estate http://housingdoom.com/2007/10/30/taxpayers-keep-those-wallets-handy/#comment-8425 austin_real_estate Mon, 12 Nov 2007 09:15:46 +0000 http://housingdoom.com/2007/10/30/taxpayers-keep-those-wallets-handy/#comment-8425 Whats annoying is by bailing them out these companies or similar ones are going to do the same thing next time. Whats annoying is by bailing them out these companies or similar ones are going to do the same thing next time.

]]> By: tc http://housingdoom.com/2007/10/30/taxpayers-keep-those-wallets-handy/#comment-8424 tc Thu, 01 Nov 2007 02:05:10 +0000 http://housingdoom.com/2007/10/30/taxpayers-keep-those-wallets-handy/#comment-8424 That was depressing, but you had to know that DC was going to bail them out one way or the other. Plutocracy: privatize the wealth, socialize the risk. That was depressing, but you had to know that DC was going to bail them out one way or the other. Plutocracy: privatize the wealth, socialize the risk.

]]> By: Idaho_Spud http://housingdoom.com/2007/10/30/taxpayers-keep-those-wallets-handy/#comment-8423 Idaho_Spud Wed, 31 Oct 2007 06:14:07 +0000 http://housingdoom.com/2007/10/30/taxpayers-keep-those-wallets-handy/#comment-8423 Well there we have it. John was always worried that FNM and FRE would be where the toxic junk ended up. Looks like we all missed a bet, while they did an end-run: That the FHLBs would simply lend these jerks money and issue bonds to cover the loans. John was perfectly correct in one respect: The taxpayer (thru GSEs, as predicted) is now completely on the hook for these feckless company's bad debt. Geez too bad *everyone* can't get a massive cheap loan when they get overextended. FHLBs could drive payday loan companies out of business if they set up shop in a bunch of strip malls, LOL. Well there we have it. John was always worried that FNM and FRE would be where the toxic junk ended up. Looks like we all missed a bet, while they did an end-run: That the FHLBs would simply lend these jerks money and issue bonds to cover the loans.

John was perfectly correct in one respect: The taxpayer (thru GSEs, as predicted) is now completely on the hook for these feckless company’s bad debt.

Geez too bad *everyone* can’t get a massive cheap loan when they get overextended. FHLBs could drive payday loan companies out of business if they set up shop in a bunch of strip malls, LOL.

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