Anyone catch Obama tonight?

[Mega]

Barry.....sorry Obama talked, but his words were so hollow. It seems to me that "They" have sussed that their have to admit some problems in the way Wall St was run.

"They" are still in total delusional bulshit that they can spin this & just how long guys?

Barry made an odd "Peter Schiff" remark to try to "balance".......i noted the market didn't buy it.

As time moves on, less & less will Barry beable to move people........as they see Change=NO Change!
Mike

[don]

Re: Anyone catch Obama tonight?

Barry.....sorry Obama talked, but his words were so hollow. It seems to me that "They" have sussed that their have to admit some problems in the way Wall St was run.

"They" are still in total delusional bulshit that they can spin this & just how long guys?

Barry made an odd "Peter Schiff" remark to try to "balance".......i noted the market didn't buy it.

As time moves on, less & less will Barry beable to move people........as they see Change=NO Change!
Mike

Change = Spare Change

[snakela]

Re: Anyone catch Obama tonight?

I tried to catch him but he's a young rockstar president, so he runs fast

[flintlock]

Re: Anyone catch Obama tonight?

He mentioned Schiff? How? Did he complain about his fees?

[GRG55]

Re: Anyone catch Obama tonight?

While you guys were watching the big guy, here's what his sidekick was saying:

Summers Says U.S. Economy Shows ‘More Balanced’ Signs Recently

April 14 (Bloomberg) -- The U.S. economy has presented “a more balanced picture” in recent weeks, signaling the severity of the recession may be easing, said Lawrence Summers, director of the White House National Economic Council...[Half the economy in the hands of the government, the other half in the hands of Goldman Sachs. That's pretty balanced alright :rolleyes:]

...“The freefall we’ve been seeing is not going to be something we’re going to be living with indefinitely,” he said...[Is this the calibre of brilliant insight he got paid millions to dispense last year?]

[ax]

Re: Anyone catch Obama tonight?

While you guys were watching the big guy, here's what his sidekick was saying:

Summers Says U.S. Economy Shows ‘More Balanced’ Signs Recently

April 14 (Bloomberg) -- The U.S. economy has presented “a more balanced picture” in recent weeks, signaling the severity of the recession may be easing, said Lawrence Summers, director of the White House National Economic Council...[Half the economy in the hands of the government, the other half in the hands of Goldman Sachs. That's pretty balanced alright :rolleyes:]

...“The freefall we’ve been seeing is not going to be something we’re going to be living with indefinitely,” he said...[Is this the calibre of brilliant insight he got paid millions to dispense last year?]

That, and losing 40% of the Harvard endowment

[Supercilious]

Re: Anyone catch Obama tonight?

[santafe2]

Re: Anyone catch Obama tonight?

The U.S. economy has presented “a more balanced picture” in recent weeks, signaling the severity of the recession may be easing,...

It only took a few trillion to stop the free fall. The US economy has been more stable lately now that it's fallen to a level we experienced more than 12 years ago.

...“The freefall we’ve been seeing is not going to be something we’re going to be living with indefinitely,”

That's sure comforting. The guy that built the system that cost Harvard and many follow-on schools great portions of their endowment is predicting that the freefall is not indefinite. Great, that means it's definite. It has limits but his Greenspanian testimonial offers no metric. How can an unmeasured thing be definite?

Maybe I'm misreading his statement. Here's his point, we're not going to be living with it. The problem will go on forever but you'll die so it's no longer your problem. Dead people do so little complaining.

[BK]

Re: Anyone catch Obama tonight - Refinancing FRENZY

Neither President Obama or any of the bullish commentators discuss the massive amounts of refinancing that has been going on for the last 1-2 months.

So, folks have extra money every month.

If you have a pulse, have equity in your home, still have a good job, then you have probably refinanced your Mortgage in the last 60 days in the good ole USA.

My father-in-law was investigating refinancing for his daughter and he couldn't reach any one at Wells Fargo - Wells Fargo was too Busy to take incoming phone Calls. My father in law had to send a complaint to the CEOs office to get a call back!
My friend wh is a R/E appraiser has been considering out sourcing the Paperwork to India because he is too busy? My friend was getting out of the business 3-4 months ago!

GEE, I wonder why Bank profits are so high this past quarter ... :-)

[Jay]

Re: Anyone catch Obama tonight - Refinancing FRENZY

Neither President Obama or any of the bullish commentators discuss the massive amounts of refinancing that has been going on for the last 1-2 months.

So, folks have extra money every month.

If you have a pulse, have equity in your home, still have a good job, then you have probably refinanced your Mortgage in the last 60 days in the good ole USA.

My father-in-law was investigating refinancing for his daughter and he couldn't reach any one at Wells Fargo - Wells Fargo was too Busy to take incoming phone Calls. My father in law had to send a complaint to the CEOs office to get a call back!
My friend wh is a R/E appraiser has been considering out sourcing the Paperwork to India because he is too busy? My friend was getting out of the business 3-4 months ago!

GEE, I wonder why Bank profits are so high this past quarter ... :-)

BK, thanks for this post, it is very useful to have a boots on the ground view. When the refis dry up the grinding halt of the wheel could be dramatic especially in the current environment.

[GRG55]

Re: Anyone catch Obama tonight - Refinancing FRENZY

Neither President Obama or any of the bullish commentators discuss the massive amounts of refinancing that has been going on for the last 1-2 months...

Agree with your post, except for the above. The Prez was quoted last week about mortgage refinancings...

Obama Sees ‘Glimmers of Hope’ of Improving Economy

April 10 (Bloomberg) -- President Barack Obama said he’s “starting to see progress” toward a recovering economy even as it is “still under severe stress.”...

...Obama cited increased refinancing of home mortgages, money flowing from the $787 billion stimulus package and a 20 percent increase in government-backed loans to small businesses “over the last month alone.”...

[Slimprofits]

Re: Anyone catch Obama tonight - Refinancing FRENZY

Agree with your post, except for the above. The Prez was quoted last week about mortgage refinancings...

Obama Sees ‘Glimmers of Hope’ of Improving Economy

April 10 (Bloomberg) -- President Barack Obama said he’s “starting to see progress” toward a recovering economy even as it is “still under severe stress.”...

...Obama cited increased refinancing of home mortgages, money flowing from the $787 billion stimulus package and a 20 percent increase in government-backed loans to small businesses “over the last month alone.”...

And it's been talked about a lot on Bloomberg and CNBC. Re-fis were cited as an example of green shoots and mustard seeds throughout the month of March as the talking heads celebrated the bottom of the recession.

[BK]

Re: Anyone catch Obama tonight - What he didn't mention

So, what happens to the Mortgage Back Paper that financial institutions are sitting on when the best credit risk (credit worthy) are rolled out of old Mortgages and into new Mortgages.

Don't the troubled Financial Firms find themselves with Mortgage backed Paper that is worth even less than it was 6 Months ago. Good thing they got rid of the Mark to Market rule!

Clearly, there are lots of unintended consequences of this last dig effort the get Everyone to Refinance?

[Rantly McTirade]

Re: Anyone catch Obama tonight?

I saw he was out walking the dog yesterday.
His kids were playing with their new pet as well.

[GRG55]

Re: Anyone catch Obama tonight?

I saw he was out walking the dog yesterday.
His kids were playing with their new pet as well.

Better that than shilling for the mortgage refi industry like he was last week.

He reminded me of Alan Greenspan early this decade, advocating that US citizens save a bundle by taking out variable rate mortgages at the bottom of the interest rate cycle.

We all know how well that worked out...:rolleyes: