The coming financial crisis

[Phanatic]

It's one of those things where if you don't put some value into those junk morgages that are clogging the banking system the whole thing could flop. At least that is the theory.

[Seabiscuit36]

farg people who took out 400k mortgages and made 80k, and took an ARM rate.  They knew or should have known the consequences.  I knew there were predatory lenders, but you cant just sign your name away on over at least 50 separate signatures.   Meanwhile if you are responsible, and live within your means, you just lose your home value. 

[shorebird]

farg people who took out 400k mortgages and made 80k, and took an ARM rate.  They knew or should have known the consequences.  I knew there were predatory lenders, but you cant just sign your name away on over at least 50 separate signatures.   Meanwhile if you are responsible, and live within your means, you just lose your home value. 

Or get laid off and lose you're home.

[Seabiscuit36]

shtein happens, hell my job is on the block.  At the same time, my wife's salary can support us, it was planned when we bought just in case the worst happens, its crazy when you plan ahead

[Phanatic]

Get the farging shotguns!

Zombie Banks Feed Off Bailout Money

http://www.npr.org/templates/story/story.php?storyId=100762999

In the continuing series on the lexicon of financial misfortune, Morning Edition introduces the term "zombie bank." A zombie bank keeps draining bailout capital from the government but doesn't respond with any meaningful lending that helps the economy recover. The prevalence of zombie banks made the long Japanese recession of the 1990s especially painful.

[ice grillin you]

im refinancing next week and knocking 300 bucks off my mortgage...so someones lending

[PoopyfaceMcGee]

Stimlulus cakes off rich guys like IGY and Paul Allen

[ice grillin you]

he wishes his boat was as big as mine

[PoopyfaceMcGee]

I'm on a boat!

http://widgets.nbc.com/o/4727a250e66f9723/499da0bec60ac11f/4741e3c5156499a7/6526ea99/-cpid/b1b8f543577775ea

[rjs246]

An interesting opinion piece about our collective disgust and relative need for the various bailouts.

[BigEd76]

What our corporate HQ has been through only 50 days into 2009:

-- approximately 50 layoffs, followed by 10-15 people that left for new jobs on their own
-- everyone at VP level and above had their salaries cut by 10% this year
-- nobody gets a raise this year
-- no matching contributions to 401K this year
-- 25 cent raises on all vending machine items

...and now we're told at 4pm on a Friday that the free coffee and chocolate will be changed to 50-cent pay machines.  Riots almost started because people would have to pay for their styrofoam cups...

[Father Demon]

-- 25 cent raises on all vending machine items

Not sure why, but this cracked me up.

[Butchers Bill]

...and now we're told at 4pm on a Friday that the free coffee and chocolate will be changed to 50-cent pay machines.  Riots almost started because people would have to pay for their styrofoam cups...

Be green and bring a regular cup from home for fargs sake.

[Seabiscuit36]

What our corporate HQ has been through only 50 days into 2009:

-- approximately 50 layoffs, followed by 10-15 people that left for new jobs on their own
-- everyone at VP level and above had their salaries cut by 10% this year
-- nobody gets a raise this year
-- no matching contributions to 401K this year
-- 25 cent raises on all vending machine items

...and now we're told at 4pm on a Friday that the free coffee and chocolate will be changed to 50-cent pay machines.  Riots almost started because people would have to pay for their styrofoam cups...

we had the cups change last year at my work, same thing with people being pissed off.  Now we get charged for plasticware and napkins if you dont order food.  Its 1.50 for a farging soda at my work, so i avoid buying them. 
Same deal for raises and people getting the axe

[ice grillin you]

stop workng in middle america and you can go outside your building and buy a soda for 50 cents at a hotdog cart