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What the Government bail-out should have looked like!
(Karl Rove)
PS. Thanks for the heads up PKers! We’re pretty good about catching Photoshop jobs most of the time, but not all of the time.
picture: dunno source, via our lol builder. lol caption: darthvenom17
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Cheezburger Network Blog
Meh…. 1/5.
Agreed. Ack!
We wants teh funneh!
Also, this is Karl Rove, not Scooter Libby
Also, also, this is photoshopped.
It’s not even a good photoshopping… Karl Rove is noticeably chubbier.
however, even if it weren’t photoshopped, not only would it still not make cents, but it’s still not a funny caption. …and I’m certainly not a Karl Rove fan.
Perhaps if it were a picture of Paulson getting dragged away in cuffs?
I usually find the least funny of these at least mildly amusing. Unfortunately this just doesn’t have it.
Pfeh. Photoshop talent wasted.
Now if they’d have been able to pull it off with Anne Coulter, THAT would be much more impressive (from an artistic standpoint, of course).
Actually I thought it was pretty clever and amusing, despite the ’shop, even though I could be accused of being a Right Wing Conspirator.
srlsly, you guys won. give it a rest. there’s such a thing as sore winners too…
Arresting them wouldn’t really have helped. And what’s with people and their desire for revenge? Its not like they did anything illegal or anything?
The Republican base is furious. They are saying it is wrong to convict someone
of perjury and obstruction of justice unless there is proof of an underlying blow job. –Bill Maher
LOL!
REVENGE!!!!!!!!!!!!!!!!!!!!!!!!
…of the Sith, or the Nerds…?
…or the fallen?
Montezuma perhaps?
Really? Is this about Wanda?
Idiots in congress urged Fannie Mae and Freddie Mac on, saying there was no problem. There were warnings then of what would happen. Here we are a few years later with evidence of accounting fraud on behalf of these government funded mortgage giants, and the same idiots point fingers at the free market and say we need more government control. Sounds pretty illegal to me. Barney Frank is at the top of my list of America’s Most Wanted.
I’m pretty tired of righties trying to blame this mess on poor homeowners. The below from Wiki on Barney Frank:
In September 2003, Frank, then the ranking Democrat on the Republican-led Financial Services Committee, opposed Bush administration proposals for transferring oversight of Fannie Mae and Freddie Mac by creating an independent agency to supervise. “The administration’s proposal, which was endorsed in large part … by Fannie Mae and Freddie Mac, would not repeal the significant government subsidies … [it] does not alter the implicit guarantee that Washington will bail the companies out … Nor would it remove the companies’ exemptions from taxes and antifraud provisions of federal securities laws.” The proposal would have moved oversight from Congress and the Department of Housing and Urban Development to the new agency. Frank stated in 2003, “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”[40] Frank stated that the bill would potentially “[weaken] the bargaining power of poorer families and their ability to get affordable housing”.[40]
Conservative groups have criticized Frank for campaign contributions from Fannie Mae and Freddie Mac ($42,350 between 1989 and 2008). They further claim the donations influenced his support of their lending programs, and they have partially blamed Frank for not playing a stronger role in reforming Fannie Mae and Freddie Mac in the years leading up to the Economic crisis of 2008.[41][42] In addition, Frank’s former partner, Herb Moses, was an executive at Fannie from 1991 to 1998, where Moses helped develop many of Fannie’s affordable housing and home improvement lending programs. In 1991, Frank pushed for reduced restrictions on two- and three-family home mortgages.[43] Frank and Moses’ relationship ended around the same time Moses left the company; Frank’s support of Fannie and Freddie predated and continued past that relationship.[44]
Frank has responded that he “opposed right-wing efforts to put Fannie Mae and Freddie Mac out of business, while simultaneously supporting strong regulation” and “voted against the [2005 reform] bill in protest of those restrictions, while making it clear that I was for the reforms it otherwise contained.”[45] Lawrence B. Lindsey, former chief economic adviser to then-President Bush, states that Frank “is the only politician I know who has argued that we needed tighter rules that intentionally produce fewer homeowners and more renters.”[46]
Nice copy-paste, but if you were responding to me I’m pretty sure I never once mentioned homeowners in my post. I called out CEOs Franklin Raines and Jim Johnson for accounting fraud as well as Barney Frank for denying there was even corruption to begin with.
I want to see this in real life.
Me too, except with Barney Frank instead.
I’m still hoping for a Bush/Cheney warcrimes perp walk…unfortunately don’t think it’ll happen…
They can’t go to Germany last I heard because of a warrant for their arrest.
Ooh… where did you hear that?
I look forward to the map of the world gradually lighting up in red, showing all the countries where the bastards dare not show their weaselly faces.
I read it a couple of years ago in the newspaper. It is too difficult to get a definitive source for you now
I think it should be true, but it probably isn’t. I know several small towns in Europe have passed initiatives supporting sending Rumsfeld and Cheney to the Haag, but I don’t think any national government has.
You want to see Barney Frank in handcuffs? Ooo, kinky.
For the horrific crime of… getting reelected by his constituency again and again for the last 28 years? He must be doing *something* right.
You CAN fool some of the people all of the time, after all.
I agree 100%. Just look at religion for the proof.
Now see, you took that in a mean direction and that was unnecessary.
I took it in a mean direction? I think not.
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I think ’twas you who implied that only fools are voting for Barney Frank. As an ex-Massachusetts resident, I thought that was rather mean, uncalled for, and simply not demonstrable by fact.
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Now, I took it with some degree of humor, which I assume
was there, and I replied with a bit of humor.
Don’t sweat it. She calls me mean all the time, and never
with any proof. Just be glad she didn’t hit you over the
head with her Ryrie Study Bible. She put weights in it.
Hehe, nah, I’m not worried.
I just wanted to point out that even though I’m sure it wasn’t thought of at the time she wrote it, what I said was no more mean than what she said.
I really don’t take anything said or done up here personally. Y’all don’t know me from Steve
Steve? The drunk guy I just put into a cab bound for
Amarillo? Trust me, I can tell you two apart…
No, you know, Steve, of Adam and Steve.
But now I have to ask. Is that your normal operating procedure? Invite some guy over, get him drunk, do whatever it is you did to him, then ship him off to Amarillo?
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Is this like a slave trade ring you’re involved in or something?
You think you’re *so smart,* just because
you can read a rap sheet…
*starts singing* You think you’re so smart, but I’ve seen you naked, I’ll probably see you naked again…….
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******
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Wait, what?
No reading involved (reading is haaaaard)
I just seem to remember seeing you up here [link]
@froofrou
hehe
naked and drunk apparently.
I think some of those fine folks hail from my home state.
Stay classy, Sooner State.
@Frou and Rho…
Someone put on the cheesy porn music…
I’m enjoying my time in Amarillo by the way, now that the hangover has subsided!
I found a fantastic BBQ joint…yummm!
*looks around*
Which way to…anywhere?
Rho…did you send me to the middle of nowhere!?!
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Oh well, at least it’s above 0 here!
*dons flip-flops and buys a 6 pack of cold brews*
*strolls down the street looking for a hammock*
Amarillo? Well, at least you didn’t end up in Lubbock.
You nailed that one…Well other brain would the following idea come from than that of a full time fool? “I know George Bush inherited the largest government surplus of any President ever, but the recession and the greatest deficit we have ever faced 8 years later is still Bill Clinton’s fault!”
These last gaspers are clearly suffering from Brain damage!!
“Last gaspers” I like that, and good point.
““I know George Bush inherited the largest government surplus of any President ever. . .”
Just so you know, those were projected surpluses, not money actually in the bank. They were based on assumptions of how the economy would perform in the future that turned out to be wrong when the bursting of the dot.com bubble started affecting the rest of the economy. And while I wouldn’t say that the recession was ‘Clinton’s fault’, there is some debate about whether it started during his last term of a couple of months into Bush’s first. So, it’s hardly ‘Bush’s fault’ either. Recessions are cyclical anyway, there isn’t much government can do to avoid them, but they can make them less or more painful depending on how they react to them.
Oh, and for the record, I never voted for Bush. I voted for Nader twice.
“Just so you know, those were projected surpluses, not money actually in the bank. They were based on assumptions of how the economy would perform in the future that turned out to be wrong when the bursting of the dot.com bubble started affecting the rest of the economy. ”
The “wrongness” had a lot more to do with the Bush tax breaks for the wealthy, and increased spending. Because, you know, Republicans are all about fiscal responsibility.
Wasting a billion dollars a minute in Iraq is not my idea of a bargain, either.
“Oh, and for the record, I never voted for Bush. I voted for Nader twice.”
So in other words, you voted for Bush once, and wasted your vote the second time (assuming you live in Florida, anyway… if not, your vote was wasted both times).
But you can’t fool all da people all da tiem!
*starts quietly desk-jammin’*
I think they are arresting him for his tie.
… for making a complete ascott out of himself
that is two terrible puns in a row pittypat…
Why I oughta belt you.
But I know you’re just scarfing ‘em up.
i did laugh, but i groaned first… haha…
Your humor just ‘bolos’ me over!!!
Where’s the next pun?
The suspenders is killing me.
Actually, this is Karl Rove, not Scooter Libby…
No it’s not! It’s Nancy Pelosi!
Nope, it’s Lou Rawls …
Nope, it’s Lou Costello…
When did they arrest Truman Capote?
Silly! That’s Paris Hilton…
Perhaps Perez Hilton?!?
Don’t we all wish!
Lies, that’s Karl Rove!
You Americans all look the same to me.
That’s cool, and we Americans love our British friends. [link]
Nice set… but it wasn’t Doctor Hibbert who had The British Book of Smiles, it was the Quack dentist whose name escapes me…
It has one of my favourite Simpsons’ scenes ever
Photographer: 2C’mon simle of the camera…”
Lisa smiles
Photographer: (recoiling in horror) “*Gasp* There is no God!!!”
I know, but I couldn’t find the actual screen caps or find it up on youtube.
I’m sure it used to be up there, but I think the studios are all cracking down on posting their materials.
funny that you’d choose a member of the Republican administration…regarding the ‘bailout’ and the need for it, etc.
1. I’m a registered and voting Democrat.
2. Even I recognize it was Obama’s (and yes, i PROUDLY voted for him) present economic advisors who ran Fannie, Freddie and AIG.
3. It was THEIR criminal activity and malfeasance that started the ‘dominoes’ of the economic problem we’d had, NOT a single Republican.
4. UNFORTUNATELY (egg on our Democrat faces)..the Federal Registry and Archive CLEARLY shows the Republicans (4 times), President Clinton (2 times) and the Bank Registrars (3 times), testified to the Democrat-controlled Banking and Finance Committee (Barney Frank) that there were ‘irregularities’ and “problems we can’t begin to imagine”….ever since 1998….
So, when we see the former heads of Fannie, Freddie, AIG, Franks, Dodd, and Cobb arrested and dragged through the streets behind a stretch Hummer limo…..
we’ll know someone sought and found justice.
P.S. My diverse 401K lost over $230,000 US in the last 19 months, so I KNOW.
First of all, your 401k… well, if you make that size bet with the world’s largest floating crap game, expect a loss… Only the house wins… that’s the nature of anarcho-capitalism.
As to the rest, well, who, other than an idiot thought Nyarlathotep was going to be a ‘change’ of anything, other than face in the White House?
“As to the rest, well, who, other than an idiot thought Nyarlathotep was going to be a ‘change’ of anything, other than face in the White House?”
You’re referring only to the economy and closely related topics, or?
naw, fester’s just bitter… and trying to spread it around…
fester, your apparent jealousy at his retirement plan is noteworthy… and “expect a loss” further solidifies your lack of training or education in the financial sector… but keep festering… it works well for you…
Stop, or he and his henchmen will accuse you of being AntiFester….
Historically, unregulated capitalist economies tend to have major meltdowns every twenty to thirty-five years. In the US, since the first Republican Great Depression of 1929, we managed to avoid a major collapse for decades by regulating commerce and industry pretty carefully. Along comes Reagan, who initiates the deregulation of business, and we get the Savings and Loan collapse almost immediately, followed by the second Republican Great Depression, (wow, almost thirty years exactly!)
So, yeah, I’d agree with Fester: booms and busts are a sign of a poorly regulated capitalist system.
I know he’s not AF, just a ‘Financial Advisor’ (pronounced ‘Con Man’)
Fester – I’m pretty sure the word “diverse” means that it encompasses world funds, not only US funds. I’m curious as to how the Great and Wise Fester invests his money. Did you bury it in a mayonnaise jar in your garden? I suppose you wouldn’t expect losses that way, but gains are unlikely as well.
I myself have only 50% of my pension in US investments, the rest are world funds, overseas commodities, etc. I ‘lost’ $25,000 myself this year. Everything suffered nearly the same 40% decline, not just the US portion of my investments.
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Thankfully I haven’t actually lost anything, as I have no intention of retiring any time soon. The silver lining is that I can use this as an opportunity to buy more shares at these great sale prices!
I think the phrase ‘None of your business’… but I can only assume you’re like ubr, just another croupier in the world’s biggest roulette game…
Articles of faith and bones of saints… nothing like it for gulling the rubes.
Far be it from me to say that Fanny, Freddie and AIG and the Democrat’s policies on housing finance did not have anything to do with this mess, but I think your explanation does not even begin to scratch the surface.
I think the whole thing starts with an education system that does not foster critical and original thinking. The financial system is run manly by people who went to the “right” universities. Problem is, once you are accepted there, you pretty much taken care of and you never face the prospect of being held accountable for anything you do ever again. It is like the ruling clan in a developing country; you are pushed into nice, plush positions by your cronies and pay back in kind if they need a favor. Fuck up and your buddies will cover it up for you, because seeing one of their own fall would damage their market value.
Add the prevalent anti-education of MBAs that allow moderately gifted but incredibly ambitious people to get into positions nothing ever prepared them for and you have the recipe for economic disaster.
It is sad that there are no real libertarians anymore. Nowadays anybody who gets hit in the head by an Ayn Rand book thinks he knows about economics. How can the financial sector grow to proportions where it sucks nearly all profits out of the real sector? How can inequality increase over a large stretch of time in a mature market-based economy, where competition should push down rents instantaneously? Not that those things are per se impossible, but they should give any real libertarian food for thought, not reason to cheer on general madness.
Sad thing is: nothing has changed so we are doomed to repeat the same crap.
The myth of infinite growth with finite resources.
Today I hear some of the banks who were bailed out are using the money to lobby against the employee free choice act. Can we please have that money back now?
They are also using it to pay bonuses to the pin heads who helped drive the train off the tracks (AIG) and were trying to buy a $50 million jet (B of A?). They really have no shame. Or sense.
$50M jet was CITI… but they are trying to sell their other two jets for $27M a piece…
Oh, sure… I’ll buy one. Who’s got the other one?
Do they really think they can sell a used luxury jet in this economy? Let’s just add THAT to the list of their brilliant decisions.
Maybe they can get Sarah Palin to sell it for them on eBay.
it’s better than just having it sit there and collect dust and maintenance bills…
ubr didn’t get the memo that Palin didn’t actually *sell* the plane on eBay. Not successfully, anyway.
wasn’t actually responding to the palin comment… please refer to your nesting…
oops. :blush:
I’m sure the Chinese are in the market for all the luxury jets we can
spare…
probably… but they’ll convert them to run on coal…
or hamster wheels.
Near slave labour in hamster style wheels…
Actually, the jet was ordered a LONG time ago…it wasn’t ordered on the bailout money. That said, it was a stupid idea to order it when they were already in trouble.
And what is funny about the photo anywa? Photo isn’t and neither is the caption or the proposed one.
And again, nothing submitted that criticizes The One.
Oh that’s right..they didn’t use bailout money…just the money we had ALREADY trusted them with…hmmm..I also don’t think they’dve had a problem using bailout money to fuel and maintain the damn thing….
I have a bit of a problem with the banks/financials in particular spending great wads of cash (for example, the AIG corporate spa retreat timed the week after the bailout) and innocently blinking and telling everyone “Oh, we already paid for that….that’s just business as usual.”
Gee, dipsh!ts, you think that might be contributing to why you needed to be bailed out? Maybe?
They needed to be bailed out because of the massive number of unsecured loans, not necessarily from monies ill-used. Although, I guess that could all fall into the same category.
If I secure a loan from a bank to buy a $50,000 Humvee, then can’t make the payments on it because I mismanaged my household funds, do you think the bank would offer you or me a bailout?!!
Froo, I hope that my post didn’t come off sounding like a personal attack…I re-read it and it may have sounded a bit “bitchy”…*hugs*
Oh, I didn’t take it as you being b*tchy! I took it more as frustration for the broken system, not as directed at me
*hugs*
No, they wouldn’t. Nor should they. But that’s not exactly what happened. Barney Frank, in all his wisdom, used his influence (along with the influence of cronies) to push through legislation to either allow banks to relax their loan standards to loan money to those who would be unlikely to pay it back, or to force banks to made said loans.
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Would yo give your jailbird cousin, who had been in and out of jail for theft, any money and expect him to pay it back, especially considering that he has no job? That’s an exaggeration of exactly what happened.
Wow!! You must know my deadbeat cousin!!! I guess what I’m pointing at is the “double standsrd” that the banks are using…it was ok for them to loan out money to high-risks and then expect a bailout..(I understand about Barney and the legislation), but the poor schmo who couldn’t make his payments wound up foreclosed on…no “bailout” for him…
Ultimately, even though the legislation allowed the banks to make those loans…They really had the ability to NOT make those loans in the first place.
in the industry it is known as responsible lending practices… it’s a relatively new term…
What if your mother was pressuring you into loaning your cousin money, because ‘he’s family’? Would you do it?
family and business should never exist in the same sentence…
unless you’re in the mob.
And that always goes so well…
The point I’m trying to illustrate is that the banks were a little like you having a deadbeat cousin (brother, uncle, dad, what have you) who needed money, and your mom is pressuring you to give him money. You have the choice not to, but you pay for it in other ways. The banks had the choice NOT to loan to iffy borrowers, but there was an understood pressure from ‘Mommy’ (i.e. Barney Frank and the like) that told them to loan to these people.
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That’s a bit simplistic, but it illustrates the main point rather well, I think
Froo, could you please provide a link that shows how one democratic congressman pushed through legislation against the combined weight of a Republican house, Republican senate, and Republican president? I believe I smell some cognitive dissonance.
I can’t do that, because it isn’t that simple. I’ve admitted that. I’m just trying to distill it down to something that’s a little easier to understand. I can (if you’ll give me a little bit) give you sources that Barney Frank fought against regulations for Fannie and Freddie.
Yeah, I mean ridiculous business practices in general. Which, making loans like a drunk guy handing out tips at a strip club is not the greatest business pracite either.
At lest you get an instant (if brief) return on that investment!
Yes, the ephemeral pleasures of the rented flesh…although I have to admit I don’t entirely understand that, but I just view it as one of those charming differences between men and women.
Women don’t understand strip clubs. Every guy that has ever been nice to you is just trying to get in your pants. I bet guys hit on you daily.
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Men go to strip clubs because it’s the one place where gorgeous women will flock all around us competing for our attention(money). They come up to us, buck naked, and put a hand on our shoulder, or thigh, and whisper into our ear “Would you like a lap-dance darling?”
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And for one brief moment we have the power, and can answer “Nope!, you’re not my type!” and then the next beautiful stripper is right there for us to reject! We then continue that process until we find the one girl in the club who is EXACTLY our type.
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Strip club is an exact reversal of the traditional bar scene. Instead of men making advances on women, it’s opposite. The difference is simply less clothing, and the men are still the ones spending the money.
You know, I don’t think I’ve ever heard it explained that simply and candidly. Thanks!
*feels one step closer to understanding the mystery that is the opposite sex*
“Men go to strip clubs because it’s the one place where gorgeous women will flock all around us competing for our attention”
`
And what do women get? Romance novels. Feh.
I believe I heard that on Comedy Central once.
You probably have, but it seems fairly true, so I paraphrased and repeated it here.
I’ve only been to a strip club a couple times in my life, it’s fun once in a great while. I wouldn’t spend money there on a regular basis.
I think the problem was less unsecured loans and more the
financial institutions selling on higher risk debt as a AAA rated
investment with tacit approval of pet ‘independent’
“regulators”. Typical scheme was Institution A sells Institution B a AAA rated package of investments. Post sale the package was then loaded with things that should never have had a AAA rating, but, “temporarily”, did. Along came an audit and suddenly AAA rated investments are being dropped three to five points in hours, when, typically, a rating won’t vary by more than a point up or down in a 30-90 day period… some (most) don’t vary more than a point for their lifetime)
It was the Casino stuffing the Casino that caused the ‘lack of confidence’ since no one knew where the crappy stuff was, and who would be holding the bomb when it stopped ticking.
It’s interesting to see the number of Ponzi schemes that are now coming to light.
Then, when I come in with a paycheck drawn on their bank, they ask, “Do you have an account with us sir? No? Well that’ll be an additional charge”. Not to mention all the other ways they nickel and dime us.
$5 to cash a check w/out an account
$1.50-$2.50 for non-bank ATM use
$5 to make loan payment in the facility rather than on-line
I’ve even seen a $1.50 “Teller transaction fee” in some banks around here (Pennsylvania)
…just to name a few
you don’t just deposit your pay checks in your bank account like normal people?
Automatic deposit here. I hate having to fondle a check in my pocket and then remember to hit the bank. It is enough annoyance wandering into public to spend the money, let alone get into a line to put the money in there in the first place…
me too… the only things i buy in person are groceries and hookers.
You should ask your grocery store to start carrying
hookers. Think of the gas you would save!
Or even better set up ‘Whore-Van’, like web-van only the person who delivers your groceries, stays behind to help you ‘put them away’.
Gives UPS a whole new meaning.
I have direct deposit for my second job, but they don’t offer it on my main job, which drives me NUTS. Every two weeks I have to haul my butt to the bank.
And I bet it’s a nice butt too.
So I’m told.
It is, now that it’s back where it belongs.
That’s a falacy, from what I’ve heard. None of that money was from the bailout, it had been contracted out a while back. I’ll try to find a source from that to make sure, but that’s what I heard.
Sorry, not falacy. That’s the wrong word. It’s a misrepresentation? Anyway, it’s wrong, and it’s too early for me to think of the right word
Could the word be ‘Lie’? however, at the moment, since they’ve begging bowl in hand, earmarked or no, it’s un-needed expenditure. However, I can see that the market needs to keep its foot on the throat of government, and thus the people, so, maybe it’s not unnecessary…
I thought ‘lie’ was a little harsh. My New Year’s Resolution was to try and be nicer.
Embrace the darkness in your soul… it makes you strong!
Darkness? I think you’ve got mildew on your soul, hon. It’s all that damp.
*sprays UF with Tilex*
Better?
I’m always better for the bracing depth of your shwit
Ok…whatever that means. I’m probably happier not knowing.
Maybe UF’s got a thing for Hotlips Hooligan …
Houlihan
Poetic licentiousness …
Poetic lie sense?
I’d have better taste than I do if I did…
the Pre-Raphaelite hair… oh…
That is what the pamphlet I got said… I took the 13 easy steps and wow, the results are Amazing! It even did my taxes!
Thanks Eternal Darkness!
Eternal Darkness did your taxes? It is probably just an insanity effect, like walking on the roof or a blue screen of death.
O_O… But I never played the game, how did I get a blue screen of death!? That must be why those guards hit me with nightsticks when I was in that store without pants…
” Child molester, also known as “Uncle Fester” was arrested today at his home…”
“Complete Jacka$$, also known as “Mike” tries to post a witty comment on PK and fails miserably and goes back to the crawlspace under the steps of his mom’s house that he calls a ‘room’”.
*sigh* Why hasn’t anyone splattered this one yet? I seem to have misplaced my troll stick…
Of course I mean Mike, not you, MG… :blush:
*takes off anti-troll-stick jacket*
That’s what I figured, but you can never be too careful!
*hugs Kuro*
Now, about that Freep you wanted…
Hi AF
Aha!!!!!
Maybe AF now goes by Mike.
He switched up his name…
But his effort’s so lame…
Like putting square wheels on a bike!
Claims He blows Bagpipes like the Piper Pied…
About his military service we think he has lied…
To snipe at Unc he’ll quickly rush…
Then runs away to avoid revealing his true man crush!
Funny I always thought AF was female.
Nope…just a sad, pathetic little soul who dresses in women’s clothes…
Nope…that’s the other one.
This is dumb.
The people who created this mess are the predatory lenders and the idiots who thought that just because some prick at a bank said they could afford a $400,000 house on a $50,000/yr salary they should buy one, the banks and the supposed bipartisan “oversight” of which every politician got a little bonus.
In a country that truly believes in capitalism and the free market, these aholes would have been out of business long before George Bush I got in to office…
Carry on, soldiers of tomorrow! :p
stated loan programs were the start of this whole mess… did you know that with a 680 FICO and 3 months of liquid reserves you could buy a house up to $650k with no mondy down and without anyone checking more than the fact that you had a job?
mondy = money… stupid keyboard… i need some coffee…
I’ve noticed that my keypad gets smarter when I drink coffee, too…
*hatches idea of conspiracy between Folgers and HP*
Six years ago I bought a house, and was surprised to discover how much
loan value for which I was “qualified.” Luckily, the amount was out of my
comfort zone. Having said that, I can see how someone would trust the
word of a broker over his/her own estimation, because of the feeling that
the broker would naturally have expertise. Surely s/he would have no
reason to lend an amount greater than the borrower, right?
Remembering what *could* have happened to me makes it saddening to read/hear people blaming struggling homeowners for not having bought
within their means.
borrowing responsibly in the first place.
than the borrower *can afford
Folgers? Really? People still drink that?
I though Juan Valdez admitted years ago that it was really donkey droppings.
[link] for a different take on coffee
Coffee goes where?!?
Not true that there are no alcohol enemas… wasn’t there someting on failblog about that?
Did he say that in the vid? I know people who’ve tried it. Not for me, but whatever.
Cute vid! Didn’t mean to imply that Folgers isn’t made of donkey
droppings, so apologies for misunderstandings to you and Juan.
It’s the stuff my folks drank when I was a kid, that and maxwell house. Both in the can. Both brewed in the percolator like weak tea. Sorry, it just brings back bad memories
Sorry about that. Every now and then some weird remark
will hit someone the wrong way, unintentionally.
You’re way too serious.
(resist the urge to apologize for that too)
Just because you don’t take weak coffee seriously,
don’t assume that I don’t!
*sniff*
i actually work for one of these large mortgage companies on the secondary marketing side and i really don’t have much sympathy for most of the borrowers… i know how much i’m willing to devote to my living expenses and wouldn’t borrow any more than that payment…
who i do feel sad for are the borrowers who go cheated into the so called ‘pay option arm programs’… it started with a 1% payment rate for the first three years, the problem was that the mortgage was still accruing interest at around 7% annually… and you couldn’t get out of the loan for 3yrs without paying a huge (2-4% of the loan amont) prepay penalty…
so even though you’re making payments your mortgage balance increases monthly… and the brokers who sold them these loans usually made about 4% of the loan amount in fees… just ridiculous…
I just purchased a home in July, and I too was “qualified” for a much larger loan than I could actually make the payments on. What confused me is that the same lending institution also carried my auto loan, and knew how much my weekly payroll deposits were. They had to have known that I couldn’t pay a mortgage that large, where did they expect me to get the money?
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Fortunately I purchased something well within my means, but I understand how someone would take the word of a banker without taking the time to do the math. Some people are just bad at managing money, and don’t realize how much they spend each month.
I don’t think it’s the borrowers fault. The bank should know better, after all they are bankers, they handle money for a living.
They mostly do… what that banker was doing was trying to take you up the arse, dry… which is what they do… they can’t help it…
I just bought my first house in October and I was shocked to head how much my lender, a friend of my family for many years, told me I could “afford”. Then I added up my car payment, heat, electricty, cable, food, alcohol requirements, hand sanitizers, lubricants, etc and decided that my lender was full of tihs and told him what I wanted to spend. He kept telling me to go for more and check out these numbers! I bought my house for my price and I can still afford to drink…
The way I see it, if you are about to spend anywhere from $100,000 to $500,000 on something, you better be able to balance your effing checkbook and you should have already figured out that loan officers are the car dealers of the housing industry and trust them only as far as you can punt them.
rhorho, you and I thought about our situation before jumping in, which is simply common sense. Common sense is entirely uncommon and to the guy that bought three houses for $300k each, you are a douchebag, eff you painfully.
@Steve and TeeBee above:
`
Is there a formula or rule of thumb that expresses housing cost relative to income? There used to be an old rule that if you were a renter, your month’s rent should be equal to one week of your take-home pay. I know, good luck doing that now, but still… Is there a rule that anyone knows of to the effect of your house [insert ratio here] your annual salary, or your monthly house payment [insert ratio here] your take-home? Cause if there is, I’ve never heard it.
I was told I could afford a loan that was 8 x my annual gross
income, but the industry standard is anywhere from 2-6 x
annual gross income.
If I understand correctly, according to the old-school 28/36
ratio, your house payment should be 28% or less of your
monthly gross income, and your overall minimum payments
+ house payment should be no more than 36% of your
monthly gross income.
FAIL. scooter libby is totally cuter.
Hi, Scooter’s mom!
But, yeah, misidentification by PK staff, as noted above, that’s Karl Rove.
…or at least, as noted below, Karl’s face.
OK, how naive am I!
I thought it was Karl Rove; had to Google-images Scooter Libby to confirm my original thought: the face is Rove’s.
BUT: http://www.politicalhumor.about.com indicates this is a doctored photo (“Karl Rove Arrest Picture – Doctored Photo of Karl Rove Perp Walk”). Dammit — I have SO wanted to see arrests of Rove, Cheney, & a few others of their coterie.
BUT unfortunately, I don’t think Rove’s ever been arrested. At least not in the last 8 years in WDC.
So what do y’all think the photo is? Libby’s body, Rove’s face?
It’s some random dude who’s had Rove’s face photshopped onto him. Libby is nowhere in this picture.
As much as I’d like to see Rove doing the perp walk (especially now that he’s basically flipped the bird to TWO subpoenas), I don’t get the connection between that and the bailout.
Am I missing something?
nope… just people trying to play connect the dot with lols…
I agree… I thought this was a reference to the spy revelation scandal. On that case he should be arrested and tried!!! I feel he was involved and did compromise national security. But instead, he is a commentator on Fox (fair and balanced my ass) and wrote an editorial about Bush in the Wall Street Journal a few weeks ago. BLAH!
If they send him to jail, won’t we be paying for him to be in jail.
I don’t have a big problem with that. Do you?
*does math*
Hey, cheaper than the USSS detail, by thousands!
What has happened with PK? All of a sudden all lols with a hint of criticism towards conservatives get voted down, receiving significantly higher numbers of votes than other lols. Yet voting numbers on individual voted-down lols vary a lot as if to ensure that lols get about 2 Abes. Still 90% of the comments are by the same 5 or 6 people.
Not that some of the lols necessarily deserve more than 2 Abes, but voting behavior has become pretty odd. Seems as if somebody is gaming the system.
Pre-assumption the system ever worked, which it never seemed to…
Yes, but it never didn’t work in such a strange way.
They’re trying to make it work
FYI thats Karl Rove… not Scooter Libby. Besides, this is probably a photoshopped picture.
and that makes it not funny…
He has the sort of face you’d not want to stop tasing…
it is ’shopped. Maybe they found the real pic and it was scooter originally?
Also what the inauguration should have looked like, rather than a helicopter ride.
What charge?
Treason would be a good place to start.
of whom?
Who flew away in a helicopter on inauguration day?
Oh, right… sorry… I avoided it like the plague… but I can guess who.
Even if you did avoid it, I’m sure you’ve seen some of the pics up here of him boarding the ‘copter or of new administration waving ‘bye’ as it took off. Possibly you’ve also seen video clips of the crowd singing/chanting:
“na na na na, na na na na. Hey hey, good bye” as it flew overhead.
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Petty and childish, yes, but still funny as hell and so appropriate. Sometimes you just have to let out that inner child-ishness.
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Anyway, that’s how I interpreted hotsauces comment.
Childishness is a useful outlet for expression of impolite
emotion. I giggled waaay too much at a caption recently.
The photo showed Cheney in a wheelchair, being pushed
by a woman with a sarcastic expression on her face. Her
thought bubble read, “Where’s a cliff when you need one?”
this would be funny if it was labeled correctly.
OMFG. ROFLMFAO. NAACP.
How many people think this is funny without realizing the picture is of Karl Rove= amusing fail.
How many people think this is funny because they think it’s L. Scooter Libby= depressing fail.
Liberals: even in victory, they’re still ignorant frakking morons.
Hehe. Sadly true.
Reading FAIL on you both. Identity already discussed above.
Zomg, really??!!
Dam mosquitos can get so annoying.
Lemmie get that one on your face. Sit still, now…
(PS: Read the other comments before posting your own. Nobody believes that’s real…)
Read them first. Wasn’t interested. Don’t know or care if B read them or not. Zzzzzz.
Reading is underrated, right? Leads to stereotypes and blanket generalizations. And we all know you hate those.
Lemmie get that one on your face.
Fester is into that, I’m sure he’ll take you up on the offer.
Yeah, but he wouldn’t use his hand to slap the skeeter away.
That’s what latex is for. You don’t have to actually come into physical contact with the likes of Anniee451.
Safe Troll Eradication.
Aww, Elbie…
You barely stunned the thing…
*grabs baseball bat*
Here: Watch how it’s done.
*takes notes*
*KAH-WHAP!!*
Okay, now hop in the golf cart, and we’ll go see if the
mosquito looks dead yet…
That’s how we handle Wisconsin mosquitos. Scientists believe that mosquitos in this region are the closest living descendants of pterodactyl!
Reminds me of the scene in The Sopranos where Furio smacks the hell out of the guy on the golf course, then calmly says, “There was a bee on-a you hat”.
ummm… read the existing comments FIRST so that you do not look like a moron. (I guess that makes you a liberal too, according to your own definition!)
BTW, you are a double-moron for not recognizing that the photo is photoshopped. Since you think you are so smart, you should have recognized this right away!
Awww. Isn’t that CUTE?
Condi Rice had the morons at The View spellbound today – poor Joy Behar looked like a deer in the headlights faced with actual intelligence in her presence; couldn’t think of a single stupid wisecrack. For once the collective IQ on the stage soared into the triple digits
Bullshit.
She wanted to scream in Condi’s face about what a fucking liar Condi is and held back because of Standards & Practices.
Condi is a waste of flesh and oxygen.
Condi is a brilliant and smart woman who is loyal to the wrong people. I find it very sad that her intelligence was wasted. At least Colin Powell woke up!
Apropos of nothing post – WIN!
So, you don’t think much of Hasselbeck either?
I don’t care if it was photo shopped, it was still hilarious!
He seriously looks like my physics teacher……….
weird……