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| User Info | Bloomberg Gets Crisped: Fannie Fraud? in forum [Ticker] | |||
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Genesis Posts: 71432 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/988-Bl....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-25 13:39:19
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Torgo Posts: 389 Incept: 2009-01-14
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I can't wait for Barney Frank to blame Bush for this.
2009-04-25 13:45:40
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Josecitomadera Posts: 283 Incept: 2009-03-20 Miami
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I am learning alot from you KD but we also learn from others mistakes. In your ticker, you stated you have been wrong. In the realm of economics, what has been your most persisting forecast error? or any other error which really gets you curious as to why.
2009-04-25 13:57:29
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Psquared Posts: 997 Incept: 2008-10-11 SE USA
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Oh this is getting so ridiculous I can't even joke about it. We've gone over the edge. I'm afraid the media can't (or won't even try to) catch up. ---------- I have money, therefore I exist.
2009-04-25 13:59:46
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Blackswan Posts: 3602 Incept: 2007-11-06 
Ponzi Roller Coaster Online
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I think we will see more Kellerman's especially if we start enforcement of the law. and 
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2009-04-25 14:00:53
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Raingod Posts: 1067 Incept: 2008-08-29 
Tastes Like Chicken
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Oops, wrong thread.
---------- I have even intermittenter access than I did over the summer. No idea when I can check in. Last modified:
2009-04-25 14:40:19 by raingod
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Pinal Posts: 699 Incept: 2007-08-16
Chicago
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1.7 cents on the dollar? Is there something worse than a **** sandwich? b/c that's what these are.
2009-04-25 16:00:17
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Matt Posts: 3820 Incept: 2007-06-26
Bothell, WA
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Quote:1.7 cents on the dollar? Is there something worse than a **** sandwich? b/c that's what these are. You can wash that **** sandwich down with a diarrhea smoothie, now there's a visual for ya... ---------- "Market players should be buying things even though they are overvalued, Cramer advised. Although this may seem irresponsible, traditional market thinking is not going to get people anywhere right now."
2009-04-25 16:02:34
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Mike57 Posts: 352 Incept: 2009-03-10 Bethlehem, PA.
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If you as a lender knew that if you laid your cards on the table and exposed all your bad loans for what they were, you'd be out of the game, then why show your cards at all? They can only bluff with their bad cards because they're not being called out on it. They can only get away with what the game allows and it seems crystal clear that the game not only allows it but condones it. The banksters and their cronies in Gov't are all on the same team. The same inbred kleptocrat mindset caused by years of cronyism betweem Wall Street and Gov't are now being exposed for what WE have allowed them to become. Maybe if we shout it from the rooftops long enough they'll realize the game has been exposed.
2009-04-25 16:34:36
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Tarmoney Posts: 224 Incept: 2008-01-23
LI, NY
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Matt: 
---------- "Then have a recession. It's a financial enema for a sick animal." - Rick Santelli
2009-04-25 16:51:58
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Zzt Posts: 983 Incept: 2007-06-26
Glendale az
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"the Goebbels Gang" , I love that moniker. Keep using it.
2009-04-25 16:58:29
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Ilikecoffee Posts: 1019 Incept: 2008-04-17
cold , AK
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Reading your tickers makes me feel like I am on free way and got run over by a bus and every time I attempt to get up another vehicle runs over me. And there is no one there to stop the carnage. ---------- You can trust the government, ask any American Indian. "When people lose everything and they have nothing left to lose, they lose it" Gerald Celente
2009-04-25 17:08:46
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Mtgspy Posts: 6121 Incept: 2007-10-27
Online
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Without the caption can easily mistake this for the Cindy Mccain's picture LOL http://en.wikipedia.org/wiki/Goebbels_ch.... 
---------- It sounds antiquated, merchantilistic - until you figured out that I was hoarding for war. Last modified:
2009-04-25 17:10:22 by mtgspy
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Noodleman Posts: 759 Incept: 2008-11-01
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well, I guess one could state the obvious and take this argument one step further. The degree of liberty, freedom and democracy in any society is directly proportional to the degree of transparency, openness and accuracy represented by its national media. hmmm. I guess that describes our current state of the nation. I don't mind if someone points to a waddling fowl that quacks and calls it a rabbit as long as the official rules provide for that option. I only get pi**** when they do it with a straight face and expect for me to believe it. Let's just officially nationalize the media along with the banks and just appoint Murdoch as our new media czar. As long as it's all official I could wholeheartedly accept it. I wouldn't wag my tail if I had one but I could accept it.
2009-04-25 17:35:13
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Waverider Posts: 2785 Incept: 2007-12-23 Chicago
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>Faced with growing numbers of homeowners unable to make mortgage payments, Fannie decided to fund loans to borrowers that were instant losers. Whole point of that was to rescue the Fennie bondholders and shove the trillions of kilos of **** into tax payers' ass.. >But instead of being zeros, their liability (which by the way sums to some $5 trillion dollars!) So at what time USD crashes ? I am long silver now. I expect all of IRS revenue going to pay the interest on the national debt. USD has broken the wedge to the downside. IMF bonds will be new world currency. Last modified:
2009-04-25 20:40:55 by waverider
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1shotrising Posts: 8 Incept: 2009-04-04 Baltimore, MD
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>Occasionally I'm wrong, but far too often I've been proved correct. Disgusting, isn't it? A simple understanding of criminality and self-interest will make you much more profit than any traditional stock/option picking technique ever will. I despise the fact that I check the FEC's database as much as the SEC's before trading. Last modified:
2009-04-26 02:06:01 by 1shotrising
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Bozonian Posts: 14033 Incept: 2007-09-01
PFT - Pure F'n Tin
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I don't think Karl has been wrong yet, just early. I'm not talking about trading where early = wrong, I'm talking about economics. In fact, I see so much of his insight in other people's blogs I think he might be the only light in this darkness. ---------- I'm so depressed about outsourcing I called the suicide hotline and got a call center in Pakistan. They got all excited and asked me if I could drive a truck. Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice. Last modified:
2009-04-26 02:28:11 by bozonian
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Mortgageguymn Posts: 182 Incept: 2009-03-09
North Coast
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When Paulson announced last year the $100+ billion credit line to be made available to FNMA & FHLMC - followed soon thereafter by the seizure of FNMA & FHLMC, I realized what it was all about. It's the same thing that the AIG bailout was about. It's what all the bailouts have been about: protecting Our Chinese Masters. They're not all Chinese. Some are Arabs. Some are Americans (esp Goldman). Others are from elsewhere. But "Our Chinese Masters" may best encapsulate the concept of our creditors, the holders of US sovereign debt. Paulson, Bernanke, Geither et al. get chilled to the bone thinking that they could auction US debt and find no takers. And so they've been pulling out all stops to make sure that no bond investor in US bank debt or mortgage debt take any loss whatsoever, the lack of a US gov't "full faith & credit" guarantee notwithstanding. Once you see it as Americans vs "Our Chinese Masters", everything is clear. We've let our Masters grab us by the cajones and we're afraid they'll start to squeeze. ---------- "Neither a borrower nor a lender be." - Harold Hecuba
2009-04-26 02:49:05
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Laura Posts: 3153 Incept: 2008-05-05
Florida Space Coast
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Yes, no bond investor may be short-changed. So, what happens when the US can't pay them all? ---------- Karl's just a shill for Big Math. 1LumpSum Honey, where's the AK ? Tyler Durden My Ford focus can get me from point A to point B just as good Tigger's Cadillac. And my back door window is not broken. Mliu
2009-04-26 03:30:00
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Lastchance Posts: 1132 Incept: 2008-11-19 Las Vegas
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Did someone say "Herr" ?? Call an EMT, as I am on the floor laughing and I can't get up. It is obviously clear that the so-called "mainstream media" is either: too dumb to investigate a looting operation too afraid to investigate a looting operation or part of the problem. Now to quote a really old cartoon show, Genesis at least deserves the title of FEARLESS LEADER. ---------- "We don't quit. I don't quit" President Obama 1/27/10 Man, I would to have him in one of our poker games.
2009-04-26 03:35:06
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Taint Posts: 165 Incept: 2008-12-24 texas
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Gen/others, All this did was kick the can a few months down the line. bad debt is bad debt. I don't think these unsecured loans ultimately caused the gov to place these entities into conservatorship. This money was nothing more than round tripped. Irrespective of liquidation or conservatorship, to fund these entities, money has to be appropriated by congress, right? Not sure how this was looting if we prevent the govt from funding and tell the creditors to smoke a pole. I recognize some $ has been given, but I don't expect the congress to fund trillions of fraudie/turdy debt If you want to discuss business ethics and legality of the transactions, thats fair game in my view. Last modified:
2009-04-26 10:30:49 by taint
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Cjworkman Posts: 5615 Incept: 2007-08-22
Online
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"I can't wait for Barney Frank to blame Bush for this. " Barney Frank hates bush... literally.. kinda funny... a gay man who's last name is Frank and he crusades against our last president whos name is bush. I hate Barney Frank he's a total douchebag. ---------- Ben is going to create an equity bubble from excess liquidity that tops at 1200... and bottoms at 300. A bubble inside of bearish economic conditions, so that it never reaches new market highs and crashes far below the lows. - me
2009-04-26 18:50:09
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Lugnut Posts: 187 Incept: 2008-09-24
New Jersey
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Just so's ya knows Full story http://www.worldnetdaily.com/index.p...w.... WND Exclusive WEAPONS OF CHOICE Military demands details on soldiers' private guns Fort Campbell command reversed under pressure Posted: March 21, 2009 12:15 am Eastern A military commander at Fort Campbell in Kentucky demanded his soldiers give him the registration numbers of any guns they own privately and then reveal where they are stored. The order was stopped, according to base officials, when it was discovered the commander was not "acting within his authority." The original order was issued on the letterhead of Charlie Company, 3rd Battalion, 187th Infantry Regiment and said effective March 11, any soldier with a "privately owned weapon" was required to submit the information, along with any information about any concealed carry permit the soldier may have, and what state issued the permit
2009-04-26 22:23:31
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Onchaos Posts: 70 Incept: 2008-10-09 Virginia
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Quote:Perhaps - just perhaps - we're finally seeing the "mainstream media" quit trying to "talk up the market", take the damn gloves off and call things what they are. Why would they start now? I really don't believe they'll turn over a "new" leaf. ---------- Freedom is chaos - give it to me anyway!
2009-04-26 22:36:23
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Jazen Posts: 1510 Incept: 2007-07-17
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98.3% loss, eh? If I wanted that I would have stuck to trading SRS!! ---------- Y'all smoke this **** to escape reality? Me, I don't need this ****. I am reality.
2009-04-26 22:47:49
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