By: mr_sarkasm
1/07/2009
4:33 pm Yahoo! Profile:
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| I too will take time to dumb myself down and learn to shorten words and sentences to those that the young thingies use. C U L8R ( god I hope that right!) Who new I'd be old at 30! bloody gen y |
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By: mr_diderot
1/07/2009
4:14 pm |
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By: perceptions_now
1/07/2009
4:10 pm Yahoo! Profile:
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"CDO's should not have been AAA rated"
mr_sarkasm,
That 's a whole other line of discussion!
But, in short, the ratings companies, have a whole lot to answer for! |
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By: mr_diderot
1/07/2009
4:10 pm |
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By: havefunhere@ymail.com
1/07/2009
4:05 pm |
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By: mr_sarkasm
1/07/2009
3:54 pm Yahoo! Profile:
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Nothing I disagree with in that perception
I guess the overhang was created by the original affordability in the houses.. well the mortgages anyway. Brokers were offering low initial interest rates which made payments cheaper than renting. Along with the non re-course of many of the loans people stopped renting and started buying.. as this drove demand up prices increased and those with an eye for a quick buck jumped on the wagon.. along with those who should never have got a loan in the first place .. NINJA loans and the like... another reason the CDO's should not have been AAA rated. When the banks put up the rates at the later date the were again unaffordable , people just picked up and left ( damn no recourse loans) went to live with relo's or in some cases moved next door when the prices dropped.. |
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By: perceptions_now
1/07/2009
3:46 pm Yahoo! Profile:
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"it is near impossible to convince them of anything outside their own reality."
mr_diderot,
I think you may find that applies to nearly everyone on this planet! |
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By: perceptions_now
1/07/2009
3:41 pm Yahoo! Profile:
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mr_sarkasm,
"the houses declined in value, yes over supply ( some figures I have read is that there are over 20 million vacant houses in America now)"
That's close to the mark.
Speaking of accounting terms, there is/was a very good reason to introduce "Mark to Market", because it is a more accurate reflection of that businesses current position.
The change back to "Mark to Model" was purely to accommodate the system staying solvent, by enabling the current fair value to be "massaged".
The question that remains is, why there was/is such a large overhang of "vacany houses"?
And, whether that overhang is likely to decrease or increase? |
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By: mr_sarkasm
1/07/2009
3:27 pm Yahoo! Profile:
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Here is a sad fact that I agree with.. I am more interested in the guy next door than what is happening around the world... why you may ask?
Well he's been stealing my mail , using my credit card details and ordering things online in my name to collect them from my house while I am at work.
So yes the demons may be out there, particularly if you smoke what I reckon you are smokin,.. but the demons banging at your door take priority, otherwise you'll never make it outside to consider the rest of the joint. |
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By: mr_diderot
1/07/2009
3:27 pm |
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By: interscreener
1/07/2009
3:06 pm Yahoo! Profile:
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Actually I understand Hollywood techniques very well.
They use predictive programming to condition the masses to accept things that have been socially engineered by institutes such as Tavistock and The Royal Institute of International Affairs. Tavistock Institute has long been known as the precursor to the infamous CIA MK-Ultra mind control program. Tavistock's agenda is used to topple governments. Sigmeud Freud was Tavistock's first director...but I guess Sigmeud Freud didn't exist either... |
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By: interscreener
1/07/2009
2:55 pm Yahoo! Profile:
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And so the American taxpayer is at the mercy of Accountancy regulations which seem to be able to be convenienly changed to suit insiders who knew all too well what they were doing. So now, due to mark to model accountancy practices, the taxpayer is left holding a bag full of paper (CDO's)that by sound mark-to-market accounting practices would be worth 10 cents on the dollar but instead the taxpayer is paying 60cents or higher on the dollar. They have a word on the street for that.... hustling. Meanwhile the shadow banking system pumps up the stockmarket with their dark pools of liquidity, obtained via drug dealing operations and the plundering of third world nations. Are we to believe that trillionaires and their puppets in government play by the same rules as joe schmoe?
And so the game goes on and the general public goes on believing that this is just cyclical and that everything will be alright....wait a minute....what's that 1.5 quadrillion derivatives elephant doing in the room? Go back to sleep everyone...everything will be all right. |
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By: interscreener
1/07/2009
2:30 pm Yahoo! Profile:
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ââThe very word âsecrecyâ is repugnant in a free and open society. And we are as a people, inherently and historically, opposed to secret societies, to secret oaths, and to secret proceedings. We decided long ago that the dangers of excessive and unwarranted concealment of pertinent facts far outweighed the dangers which are cited to justify it. Even today there is very little in insuring the survival of our nation, if our traditions do not survive with it. And there is grave danger that an announced need for increased security will be seized upon by those anxious to expand its meaning to the very limits of official censorship and concealmentâ¦
 For we are opposed around the world by monolithic, and ruthless conspiracy that relies primarily on covert means for expanding its sphere of influence, on infiltration instead of invasion, on subversion instead of elections, on intimidation instead of free choice. It is a system which has conscripted vast human and material resources into the building of a tightly knit, highly efficient machine that combines military, diplomatic, intelligence, economic, scientific and political operations. Its preparations are concealed, not published. Its mistakes are buried, not headlined. Its dissenters silenced, not praised. No expenditure is questioned, no secret is revealed. That is why the Athenian lawmaker, Solon, decreed it was a crime for any citizen to shrink from controversy.
 I am asking your help in the tremendous task of informing and alerting the American people, confident that with your help, man will be what he was meant to beâfree and independent.â John F. Kennedy
You can look the quote uo if you like. But I suppose you will say John F Kennedy didn't exist either. Try reading Tragedy and Hope by Carrol Quigley (Bill Clinton's mentor),
or The Technotronic Era by Brzeninski (Barack Obama's mentor and current political adviser) or Confessions of an Economic Hitman by John Perkins. But I guess you would pre ... |
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By: mr_sarkasm
1/07/2009
2:02 pm Yahoo! Profile:
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| Bravo mr_diderot |
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By: mr_diderot
1/07/2009
1:59 pm |
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By: mr_sarkasm
1/07/2009
1:53 pm Yahoo! Profile:
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sorry spelling was bad ...
This I believe hides the true value of the asset.. because if it all goes belly up and youâre forced to sell out everything you own to pay creditors.. there is still no market and they are still worth nothing. |
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By: mr_sarkasm
1/07/2009
1:51 pm Yahoo! Profile:
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The market dried up because the assets for most of the CDO's were the mortgages, the houses declined in value, yes over supply ( some figures I have read is that there are over 20 million vacant houses in America now)and non-recourse loans were the mortgagee could hand back the keys with little or no consequence, meaning that the core asset value of the CDO no longer existed, investors wouldn't touch them with a barch pole , when no one buys there is no market to trade the securites.
However.. many still provide cash flow.. which was one of the banks arguments against mark to market.
Appearing solvent.. hmm running out of lunch break to type this.. it's an accounting thing Historical cost ( price you bought it for) versus fair value ( mark to market) which is what people will pay for it at this point in time. When the banks and brokers had to mark to market the asset was worth nil, no market, now with the relaxation of the regs they can mark to model based on cash flow to formulate a value. This I beleive hides the true value of the asset.. because if it all goes belly up and your faced to sell out everything you own to pay creditors.. there is still no market and they are still worth nothing. |
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By: mr_sarkasm
1/07/2009
1:38 pm Yahoo! Profile:
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| true.. I'm an optomist.. lol |
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By: perceptions_now
1/07/2009
1:37 pm Yahoo! Profile:
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mr_sarkasm,
"As the market for (CDOs) dried up"
Why?
"That led to a steep decline in prices"
Why? What happened to the usual Housing Supply & Demand?
"This action has relieved the write downs needed to comply with the old standard and allowed many more banks to stay solvent"
Appear solvent?
"We will see you in five years when this happens all over again and we haven't paid back this crisis yet!
May not be that long! |
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By: mr_sarkasm
1/07/2009
1:15 pm Yahoo! Profile:
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Part 2... if the Government had been as you describe then the senate, under control of the government, would have pushed for the opposite so that the banks would go under and their assets would be sold at fire sale values for the The Council of Foreign Relation or The Bilderberg Group to scope up and take over the planet.. just like Pinky and the Brain.
The only thing I agree with you about is that the crisis is not over.. but for now it is now hidden by the amended regs by the FASB, toxic debts have been buried for a while. We will see you in five years when this happens all over again and we haven't paid back this crisis yet!
It's all bad management and greed rather than conspiricy!
Sorry for the long reply! |
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By: mr_sarkasm
1/07/2009
1:09 pm Yahoo! Profile:
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Wow I love topics like this.. quite interesting.. although I must disagree. The current fiancial crisis owes it's origins to more than one source that is out of the control of a collective. Simply to many factors invloved for a collaboration to influence.
Lets start with the housing market bubble which began between 2005 and 2006, within the United States and the resulting collapse of the sub-prime mortgage market in 2007. In the good times sub-prime mortgages were pooled ,as mortgage backed securities (MBS), in vehicles such as Collateralised debt obligations, or CDOâs.
Now the millions of individuals purchasing the mortgages that backed the CDO's where not all brain washed... depsite being Americans.
As the market for (CDOs) dried up, financial firms were caught holding billions in securities
for which there was no longer a market. That led to a steep decline in prices and huge writedowns,which translated into escalating quarterly losses. These write-downâs were based on the mark to market rule.
The mark to market rule was implemented by FASB, so I will concede that a body of 5 people could be influenced.
Commercial Banks and home mortgage lenders have been the major opponents to the rules believing that fair-value accounting is driving otherwise healthy businesses into insolvency by forcing them to recognize artificial mark-to market losses on valuable assets.
Funnily enough it was the commercial banks and mortgage lenders that pushed the unsustainable mortgages in the first place.
Here is where your argument falls down, the senate got involved in the standard setting and put pressure on the FASB to revise/amend the regs. Which they did on April 1. Now the banks can mark to model for CDO's and the like when there is not market to mark to (compare to find value) This action has relieved the write downs needed to comply with the old standard and allowed many more banks to stay solvent... see part 2 |
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By: interscreener
1/07/2009
10:44 am Yahoo! Profile:
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clairehstruthers.....your lack of knowledge on where the U.S.and the World is heading is astounding. I suppose you will deny that concentration camps existed in Russia and German as well.
If the Government calls them humanitarian relief camps and makes mandatory vaccinations a pre-requisite for entry, I guess you will believe them. Hah!
RFID chips area a reality. They are imbedded in your passport and in credit cards...Just because you fail to do the research and fail to read the Bill Numbers, gives you no right to discard years of hard work. I think you probably just absordb everything you see on the news like a good little slave. No wonder predictive programming is so effective! Drink your fluoride, take your shots and give em to your kids too, because mercury is good for the brain!
Do you even know what the New World Order is? Have you bothered to do a google search and reach the hundreds of mainstream articles on the subject. Probably not!
I guess its true what they say...ignorance is bliss! |
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By: vincenthavelundstephens
30/06/2009
11:13 pm Yahoo! Profile:
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clairehstruthers
Claire who is Alex Jones do you know him or maybe his writings, Vince |
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By: clairehstruthers
30/06/2009
9:57 pm Yahoo! Profile:
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Haven't you forgotten to mention the concentration camps the New World Order is building to house the sheeple, and ooh yes, the chips they're planning to implant in everyone's brains?
Oh, please. Nobody over 16 takes Alex Jones seriously. If you're still at school, I could just about forgive you for being taken in by his ravings but not otherwise. |
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By: interscreener
30/06/2009
1:19 pm Yahoo! Profile:
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We already have a one world currency. It's called a Special Drawing Right and it's issued by the IMF. The U.S. dollar is about to be dumped big time. Did you read the mainstream article last week about two men who were found with 134.5 billion dollars in U.S. Bonds in a double bottom suitcase, trying to take it over the Italian border into Switzerland?
Two of the bonds were Kennedy Bonds, which have a face value of 1 billion each!! Of course the authorities say they are fake...Hah...of course they would. Could you imagine if they declared them real...every government holding U.S.eless Bonds, would be running for the exits dumping dollars as they go.
America is now heading towards fascism. I know you will disagree, but first you have to understand the definition of Fascism. In Mussolini's own words "fascism should be called Corporatism because it is the merger of state and corporate power."(end quote) The U.S. government now owns Majority stakes in Citigroup, AIG, and GM to name a few...
Obama is handing over complete power to the FEDERAL RESERVE, which will regulate every business it considers as 'vital' to the American Economy. Do you realize what is coming? Britian and the U.S. are already virtually police states...who do you think is next? Now the Australian government has introduced legislation to implement mandatory internet censorship (google HeraldSun article)
They also want to cap and trade which will micro manage every facet of your life, so you get used to minimizing your 'carbon footprint.' If you own that 4 bedroom, 3 bathroom dream house, get ready for carbon taxes!!! Do you really think that's freedom and freedom of speech?
I am surprised that someone with your knowledge of history can't see what is coming. I guess that's a syndrome of the complacency into which the Australia population has fallen.
We live beyond our means. We are fat and lazy. We are in debt. We never exercise our democratic right by protesting.
We are in for a shock! |
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