The tribe has spoken....mixed feelings here!

Repubs vote 2-1 nay!

This is going to get ugly. Worse than it already is. I bitch about the bailout but it would have been the best thing I believe. Going to get really ugly.

Sounds to me the best idea of all. This is going to scare the lenders straight and stop giving loans to people that can't afford them. In the mean time, I think the best option for the country to do is help out the folks that were given the loans. That may just show a glimmer of hope to the people of this great country. In addition, the fact that lenders are really at fault here is reason enough to make them find a way to get the moneys from the people lended to. If that means turning the existing foreclosing homes into a 60 year loan at half the monthly payment then so be it. It is a lot easier to bear a 600-700/ mth payment than a 1200-1300/ mth payment. Now, all the sudden there is less foreclosed homes and less bankruptcy. Voila, problem averted. What do ya think?

I'm still open for business. Closing a $550M transaction Wednesday, $250M transaction today, $4MM transaction Friday, $240M transaction next Friday, so I'm putting out about $5 million on the street in two weeks, and we have more money to lend to responsible clients. We also don't have the issues other folks do.

I don't do consumer car loans, just C&I, Com'l RE, and other types of commercial loans.

Microsoft!!!

Andy, what is you're outlook on commercial Real Estate? Is this going to be the next shoe to drop ?

Nope.

Loss of Payroll, due to simple fact that corporations can longer get a loan from a bank.

People will panic and pull their monies out of their banks and investments.

Mass bank and market crash. Sound familiar to those that read their US History Books, specifically in the 30's time frame??? This time, it's way worse.


I'm not for bailing out those greedy bastages that got us in this mess in the first place, but the US corporations needs some hard cold cash and they need it now.

Denying the US that cash is bad....very bad.

Or, so I've been lead to imply.

Not sure. Depends on vacancy rates. Ever notice how many tower cranes there are in Bellevue? They might take a hit if they can't lease them. I'd be a little concerned if I had a large portfolio of investor RE right now.

The bulk of what I do is owner occupied, but we do have some investor RE. I have a fair amount of rental single family residences and apartments, but those tend to be pretty good when housing credit tightens up.

All in all, I think Joe Average will be fine, as long as you have paid your bills on time. If you have a diversified portfolio of investments, this is a bump we'll get through, and don't sell it all and quantify your losses. Credit will tighten up, and good banks will still be willing to lend money.

My suggestion to you is to turn off your TV.

Well, I dont agree that the lending cease is a good thing. But it has one thing going for it. And that is the fact that there is less of an excess. What I mean is, this is going to force the country to live and discover what "need" is rather than the misconceptions that we exist under today are. Kids at school with phones, rather than paying attention to the important lesson up front, texting away. Mom and dad buying the brand new car for Jr. just to have it wrecked a week later cause he thinks it is a Formula One car. These hard times fall on us at a very oppurtune time if you ask me. A time when the things that are valued are almost always a material item. Just run around and ask ten kids what they think is most important that they have. I bet most of them say 1. Mom and dad 2. Video games or some electronic. This is going to be a valuable and needed lesson I think. While it is not a good thing that there are so many who will pay dearly for what has happened. It is, I think a necissary evil. Maybe the government should only find a way to soften the blow. Rather than eliminate it.

You think you know everything, stam.

LMAO

Get ready to see some serious "straight talk" acrobatics...McSame is about to get on the tube and give a speech as to how it's Obama's fault that McSame failed to deliver anywhere near enough Republicans to get this bill passed...

This oughta be good.

He should just send Palin out there to blame it on Clinton.

Fish on...

Todd

Well, it was kinda disappointing.

He just said it was a necessary bill, and that it was "Senator Obama and his Democratic colleagues' fault".

Period.

Not even a mentally retarded frontal lobotomy patient with a penchant for wearing a knapsack over his head could come up with a connection between McSame's utter failure to get his own party in line and blaming it on Obama.

I suspect the press will have a field day with this one.

This just further reinforces the fact that McSame knows virtually nothing about the economy, and that his failure to win decisively in the foreign policy debate will likely ring the death knell for his candidacy...well, whatever is left of the knell after Palin's been beating it with a spoon all week.

The next three debates (two for the POTUS candidates, one for the VP's) are going to be interesting...unless you support the McSame/Falin ticket, in which case they're going to be a nightmare.

Fish on...

Todd

Lame Todd. This is no more McC than it is BO, NP, HC, HR or any of the rest of them. As always, there is planty of blame to go around. The taste went bad for the bill after all the political mumbo jumbo that happens in Wa. Everyone to busy taking credit and point fingers. Just more BS. Put your party ahead of your country and political points ahead of right and wrong.
Just one more reason we need to kick all these SOB's out and start new. And BO is not new. It is sad day.

The republicans were lined up to vote yes even though democrats are unwilling to accept any responsibility over the mortgage crisis until Nancy PMSilosy opened up her mouth and got political and tried to put all the blame on the republicans.

.......so then the Republicans really showed her.

At the expense of the Dow.........down 800 points +/-

I'm glad kindergarteners have taken over DC.

Wow. Just f'n wow.

If anyone...for real...thinks that the Repubs voted against this bill, against their President, Vice President, and their presidential candidate because Speaker Pelosi made a speech, and it hurt their feelings...if any of the Republican congressmen really voted against all that because their feelings were hurt, then they need to go get a hug from their mommies and maybe have some kool-aid and a plate of Oreos.

You know how you can tell when even the Repubs know they dropped the ball?

They say it was "everyone's fault"...if there's any debate whatsoever that it wasn't their fault, then they'd flat out blame it on the Democrats, or at least Bill Clinton.

When you hear the Republicans saying, as they are right now on TV as I am writing this, that it was "everyone's fault", then what you are really hearing is that "we fukked this up, and bad"...

Every republican voter who is pissed about this ought to call their representatives, if they voted "nay", and ask them if they did it because their poor little feelings got hurt...if that's what happened, then they should write in "Mickey Mouse" on their next primary ballot...at least Mickey will make the hurt feelings go away, he's so happy and all.

Fish on...

Todd

Didn't you're party last week acuse Mccain of spoiling the votes they needed to pass this bill? Does that ring a bell?