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For general discussion and debate. Possible talking point: Is the financial crisis over?

Fannie Mae and Freddie Mac shares had their best day in more than two decades on Wednesday after Wells Fargo's (WFC.N: Quote, Profile, Research) strong earnings spread relief across Wall Street, even as a plan to prop up the two mortgage finance titans met resistance from congressional Republicans. The two pillars of the U.S. housing market also benefited from remarks by Federal Reserve Chairman Ben Bernanke that they are "in no danger of failing."

There was an explosion yesterday after the Wells announcement carrying all financial stocks higher, and the DJIA up over 275 points. JP Morgan just announced MUCH better than expected earnings and revenues. Is the financial crisis over?

This question doesn't suggest that there are no banks or lenders still in trouble, but, instead, that the hysteria which has swept through Main Street and Wall Street the past few months was WAY overblown, and that sanity is returning after a long holiday. 

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GM

I have questioned why GM continues to support NASCAR even thought they can't pay a dividend. Heard on the radio this moring that they will not renew their contracts with Bristol or New Hampshire Speedways. I am a big NASCAR fan but it made no sense to me to keep sponoring something that was rather expensive with little to no reward. Could this be the begining of the end for GM and NASCAR?

Be kind to your kids. They'll be choosing your nursing home.

Where we ever in a

Where we ever in a financial crisis? 

I know things got weak, but our economy has been growing, at a slow pace, but it has been growing. 

The recision IS an immagination of the media which they keep on hammering unto the American people.  (Yes Obama, it is in your immagination and you perpetuate who push for Americans to transform America into a nation of whiners).  A recesion is defined as two consecutive fiscal quarters with no growth, in the negatives.  Last time that happened was back in 2001, in March 2001 to be exact.  The recession that Clinton handed down to Bush. 

Let me put it in real world experience.

I am a father of two, my wife doesn't work.  My income is about $50,000.  I have been earning this for about the past two years.  I have not felt any pinch, I have not made any cut backs, etc, etc, etc.  I spend today, comfortably, the same amount money that I spent over a year ago.  All my bills are paid on time and I have extra for outing with the family and dates with the wife. 

I keep on hearing about an economic slow down, I keep on hearing recession, yet living in Chicago (which has the highest gas prices in the nation and I do drive everyday to work) I have not had to change by spending habits. 

It is all fear mongering from the Liberal media, Liberals, etc.  Let us not forget that this is the same thing that the MSM did in 1992 when Clinton ran against Bush dad. 

Yes, there has been an economic slow down, but is no where near what we have been told by the media. 

How can the economic crisis be over, if there wasn't one to begin with, right? 

Economic slow down and economic crisis are two completly different things. 

Things will improve

when the media and dems say. If Johnny Mac wins,  expect more gloom and doom. If it's Obama, any positive change will be the result of the messiah's divine powers to correct Bush's failed policies.

Energy

When the libs took over in 2007 corn was $2 a bushel and oil was $50 a barrel. They have rejected all of our drilling proposals.

The current earnings increase in the DOW is attributable to the decrease in oil prices. If congress does not permit offshore... drilling, the market will drop again.

JDW

SAPPY NEWS

DAILY WAVE

Let's just hope we continue

Let's just hope we continue on the right track. Gas prices here have been slowly shying away from $4 for the past week and had a 5 cent drop just after Bush's offshore drilling proposal. Call it a coincidence if you will, but oil prices will go down if you talk about drilling for oil and will fall even more as soon we follow through with it.

Futures

The libs are no longer focusing on big oil as our oil enemy but commodities. How would increased supply affect the futures market?

JDW

SAPPY NEWS

DAILY WAVE

The financial crisis will

The financial crisis will never be over as long as socialistic economic/tax policy prevails in Washington.

Limbaugh & Newbusters

I go to Rush's website frequently to read what he said that day; and to go to the links he provides. Lately I've noticed frequent links to Newsbusters. I hadn't noticed NB links in the past, but over the past month or so it's become almost common. Is this a new trend for him, or was I just not paying attention in the past?

___________________________________ 

If you can read this, thank a teacher. If it is in English, thank a Soldier. - My barber

it's been about the same

it's been about the same amount ever since NB went live almost 3 years ago...usually one or two a day...

TnT

TnT,

Rush has been an avid supporter of NB since day one! Read one of the first articles I posted here on the air. Exciting day for me!

He's been linking to us ever since in his "Stack of Stuff," and probably reads one or two pieces of ours on the air each week -- sometimes more.

I'm proud to say he's one of our biggest fans. :-) ns

Building the Vast Right

Building the Vast Right Wing Conspiracy one website at a time.  Bahahaha  Who knew Hillary had the gift of foresight?  Thank you Hillary for your self fulfilling prophesy. 

 Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.  

Libs

One must consider the lib hierarchy. How does one earn a step on the ladder? Whether it be politics or news media, these are unavailing leftovers shifted from one area to another for the cause, often they are promoted. Imagine Hagel contributing here.

It is as if lying and hiding the truth have become acceptable. Since EIB does not, it must share equal time with the libs, too many are being influenced. And the Internet sites, it will be up to the FEC to eliminate this blasphemy.

Rush is opening minds by opening links.

JDW

SAPPY NEWS

DAILY WAVE

NS

Glad to know that. And now a lot more people know it. Thanks -- it just became so much more noticable to me, I guess.

___________________________________ 

If you can read this, thank a teacher. If it is in English, thank a Soldier. - My barber

With $400 million he needs to be in touch...

TnT,

...with the commoners. I'm amazed he sided with Keith Olbermann and called Bill-O..."Ted Baxter"!!! I'm getting to like Rush more and more. With his Operation Kaos, he's helping fill those State houses and Congressional districts with more and more Democrats. He needs the Democrats in office. He can wax all day long about how they're screwing up and destroying the American way of life while he laughs all the way to the bank. Mind you, I would much rather have Rush complainin' about the Dems than the GOP spendin' our money and expandin' the Gov't.

Go Rush! You're doing a heck of job!!! To think your conservative whiners are the ones filling your coffers. They deserve you and your excellent commentary on the degradation of our Nation. As you would say,"Support Operation Chaos! Listen to me and Vote for the Dems!"

Syrius

Rush Baby?

Syrius,

So, you're a card-carrying Rush Baby now?

___________________________________ 

If you can read this, thank a teacher. If it is in English, thank a Soldier. - My barber

Syrius, you are establishing

Syrius, you are establishing a rather sad, pathetic track record this week. You are definitely removing what little distinction that separated you from the leftie chaff here at Newsbusters.

Little wonder most NBers pay little attention to ou and do not take you seriously.

At least try to be semi-knowledgeable on the topic you are trying to be witty and clever about, ok?

You are so angry. Embrace Gaia: hug a tree! Or maybe try posting here when you are sober.

Otay, Rog...

Rog,

What leftie chaff? Most are gone from what I can tell...and what's left are a new breed of libs who are angry, not very funny and flame out quickly. Of course, it goes with the territory, not much humor from the conservatives except for the occasional Shrub Report. I mustn't leave out TM, he's a treat. Gosh, I hope he doesn't fly towards the flame like Trach/PJ! IMHO, it's gotta be part of plan beyond our comprehension. Gosh, I look up toward the heavens and ask..."Is there anyone out there?"...wasn't that from a song...got it! Pink Floyd- Comfortably Numb!

Not angry at all! I would like to see Dubya do more stand up comedy like he did the other day!

Syrius

 

 

You have answered your own

You have answered your own question. Your recent posts AREN'T any different than the angry, unfunny, lefties you, yourself, have described. You are trying too hard to be clever, and it ain't working.

Oh, actually, it's "is there anybody in there", not out there. You were probably thinking of the "Is there anybody out there" track from side 3, a few tracks before "CN".

 

 

Syrius,. . . .You are so angry.

Syrius,. . . .You are so angry.

Roger, I think he is more, ummmm, bitter. His side won in 2006 and has been completely impotent, unable to keep their promises/lies (Iraq, energy, impeachment, indictments, etc.). I'd be bitter too if I was aligned with such a sad sack bunch.

D

Keep the ILLEGALS out, join NumbersUSA to send free faxes to your reps.

Small steps...long journey

dfft,

Bitter? Angry? Otay...whatever you're smokin' it ain't tabacchi.

Change is on the way. Elections have consequences. I've been for McCain this whole time (check it out...it's true.). One reason- the Congress will be overwhelmingly Democratic (or is that "Democrat"). We've seen what happens when the Executive and Legislative branches are ruled by one party. McCain would at least be some kind of buffer to one party rule. As for being aligned to a sad bunch...the ship has been sinking and the rats continue to jump ship. 28% approval rating for Bush is not too shabby! So...

Godspeed, John McCain, Godspeed!

Syrius

 

Talk about giving McCain

Talk about giving McCain the kiss of death. An endorsement by Syrius.   LOL, I couldn't help myself Syrius, sorry...ROFL

 Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.  

the ship has been sinking

the ship has been sinking and the rats continue to jump ship. 28% approval rating for Bush is not too shabby!

Curious, is that 28% approval rating better or worse than the historically low 11% approval rating for Congress? Perhaps Bush's 28% is dragging Congress down and not the other way around???

D

Keep the ILLEGALS out, join NumbersUSA to send free faxes to your reps.

I thought congress was at

I thought congress was at 9%.

Save a SeAL, club a liberal!!

  You might have a

 

You might have a point. Chimpy McHitler "is dragging congress down" by outwitting them over and over the past 18 month. I guess, technically, by exposing the dumbasses in the Worst Congress Ever, Bush is a cause of Congress' historically-pathetic numbers.

After all, the American people are overwhelmingly more concerned with impeaching the president than solving those silly energy, economy, and Middle East issues, right?

 

WF ALWAYS makes money

I am not heartened by this, as Wells Fargo would be the last bank to fall.

I, unfortunately, am stuck with a Wells Fargo loan and I can say firsthand there is no more vicious, unforgiving, extract-every-possible-cent-from-every-transaction bank out there.

The day after the payment is due, WF will begin calling HOURLY every phone number they have on you. I have a 10-day 'grace period', but that is meaningless. They got on your ass bigtime, at 12:01 a.m. next day if the payment has not been made. I have even had them call me the day before the payment due date, just as a 'courtesy'. 

However, if I were a stockholder, I would applaud their strongarm tactics. 

SoL,

I agree. Wells Fargo will nickle and dime you to death if you let them (I don't -- but they try anyway). But the biggest problem with them is their mistakes. They make all kinds of errors, so you have to watch your account like a hawk.

The best bank? USAA, IMO.

___________________________________ 

If you can read this, thank a teacher. If it is in English, thank a Soldier. - My barber

TNT: yeah, you're so right

TNT: yeah, you're so right about the 'mistakes.'

They're ALWAYS right, and the customer is assumed wrong by default from the gitgo. 

Their miscellaneous 'collections' branches all over the country have no clue what the others are doing.

Example: I get a call from a WF CS person with an Arizona area code. Me: "I made the payment two days ago." Rep: "Well, it's not showing up on my system." Me: "Too bad, I'm in NJ and I made the payment." Rep: "OK, but I will have to escalate the issue." Me: "You better not bang me with a late charge."  Rep: "Can't guarantee that, I don't have your 'agreement' available." Me: "You're a pretty big operation, don't you have a centralized database?" Rep: "What do you mean, 'database'?"

I love Wells Fargo

I've had no problems with them and they are the first Bank that sent me an unsolicited refinance letter in the mail with the best rate out there at the time and allowed me to refinance completely through the mail with absolutely no closing costs. I only had to pay $4 in notary fees at my local Mail boxes etc.. They even paid the postage.

It was the best refinance experience ever.

Then then they sent me a 0% credit card offer that had no transaction fee on balance transfers. I've never seen that before. I don't keep balances on my credit cards, but I charge everything so my monthly charge bill is significant. I transferred around $5,000 or something. Then I just made payments because it was a free loan. I accidentally made a late payment one once and I called them and they let it slide, they didn't charge me any fees and kept my zero % rate.

I love Wells Fargo - they are the best credit card and loan company I've ever had. I've never had any mistakes either.

I should do a commercial for them.

Dee

You should do a commercial. But my experiences parallel SoL's. They don't have a central database. Their representatives are isolated from necessary information. And the only way I get my problems (that they cause, and there have been about 12 so far over 3 years) solved is to go to the managers and supervisors, sometimes stretching over days and weeks. When I first got my mortgage with them, they started charging me penalties because they didn't have some paperwork. I gave them the history of the paperwork, but they said they couldn't get at it because "it was held by a separate part of the company". Instead, they wanted me to do it all over again! It was many weeks later that I finally forced them to send someone to "the other part of the company" to locate my paperwork. Then, I charged them for my inconvenience -- and they paid me! (plus re-imbursed the penalties) And it's been downhill ever since.

But you're right, they do have good rates.

___________________________________ 

If you can read this, thank a teacher. If it is in English, thank a Soldier. - My barber

Wells Fargo

I have to agree with Dee. My mortgage was bought out by Wells Fargo in 2003 and I have had no problems whatsover. In fact, they changed me over to a bi-weekly mortgage free of charge (when others were charging up to $350 for it). All I had to do was agree to electronic payments. My payments are never late and they are always accurate.

I noticed most of the people complaining about WF are people that still pay by check. It's not unusual for checks to take time clearing and you can't say that WF is the only bank that has problems with that (or with nickel & diming customers).

OK, just my .02 worth (paid on time of course!)    ;-)  

RJW - that could be the problem

because I don't mail checks either. I have mine electronically debited also. I think 2003 is about when I switched to them also.

Sorry, RJ

My payments are automatic. I can't imagine the problems I would have if I paid by check!

My last problem was 2 months ago. I went online to increase the monthly principal amount. Unlike in the past, I received no notification that the change took effect. After waiting a week, I called the office, told them what I did, and asked the person to confirm that my change took effect. I received a verbal confirmation.

Shame on me for accepting a verbal confirmation. Want to know what this person did? He doubled the principal payment! Talk about scrambling to pull money from my savings to cover it at the end of the month. Had to call Wells Fargo customer service management to get them to fax me a letter saying they would cover me if my savings transfer didn't make it in time, and they would pick up any service charge from my bank.

This was the 12th mistake in 3 years. My conclusion: Wells Fargo is highly incompetant, totally lacking in customer service skills, and they hire people dumb as dirt. Mind you, my sample size is only 12 points, but ....

___________________________________ 

If you can read this, thank a teacher. If it is in English, thank a Soldier. - My barber

TnT

I never tried increasing my principal amount online so I will have to watch that closely if I do. Your experience with WF sounds a lot like the problems I have had with Blue Cross Blue Shield for the past 2 years. I wonder if the reps you talk to have second jobs at BCBS?

edit:

Just as I post this I received an e-mail from WF asking me to go with paperless statements. Is big brother watching?

TnT.......your right, Wells Fargo will.....

nickle and dime you to death.....they also love to bounce checks when they know a direct deposit is there at the same time......they bounce the check, and then do the direct deposit.....that really ticks me off.  I also have USAA, great credit cards and insurance.....I have had them since my days in the Air Force, none can compare to them. 

"If a man does his best, what else is there"?

General George S. Patton Jr.

BEGRUNT

Yeah, I love to tell insurance salesmen "I've got USAA" whenever they promise to beat my current rates. There is never, never any additional conversation after that.

___________________________________ 

If you can read this, thank a teacher. If it is in English, thank a Soldier. - My barber

TnT......I get the.....

same response.....I get the "oh USAA, cant beat them", and it ends right there. 

"If a man does his best, what else is there"?

General George S. Patton Jr.

Noel, get ready to party...

I'm guessing you are on pins and needles in anticipation of Al Gores REALLY BIG announcement tomorrow.

If your wondering what I'm talking about... I signed up at the "we can solve it" website when their commercials started to hit the airwaves. I like to always see what the other side is up to. Anyway, here's a portion of an e-mail I just received from them...

In a speech in Washington, DC, Nobel Laureate and Former Vice President Al Gore will issue a major challenge, essentially pressing the "reset" button on how we think about energy and climate, and how we can create prosperity in America. blah-blah-blah-blah.
 

45 Communist Goals for America http://www.nationmakers.com/com_goals.htm

Clear,

I should have extended my stay in D.C., just so I could hang around Reagon National, monitor the commercial flights, and greet and shake Gore's hand as he exits the security area.

He is flying commercial, isn't he? Then taking a curtesy bus to the hotel? Did We can solve it mention that?

___________________________________ 

If you can read this, thank a teacher. If it is in English, thank a Soldier. - My barber

TnT...

If you are anything like me, I would rather have my teeth drilled than to wait around to see Al Bore. 

45 Communist Goals for America http://www.nationmakers.com/com_goals.htm

100% wind and solar in 10 years

algore is going to propose we are 100% wind and solar powered in 10 years for all electricity production!!

 I wonder how many wind turbines he will allow to be built on or near his energy hog mansion?

Maybe he will convince Ted

Maybe he will convince Ted Kennedy to stop blocking the wind farm near his summer home??  Now that would be an announcement worth hearing!

Maybe he will announce he is getting off the electric grid?  All the lights will suddenly be brighter when he does.

 Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.  

I thought Ted supplied the wind?

dscott,

And don't forget the heat from the air being produced. It could generate enough for his compound in the winter!

Syrius

"...the dire consequences to society when people begin to believe that by
renaming someone to erase their humanity opens the door to the
devaluation of everyone's life..."-dscott

 

So if Ted moves to teh

So if Ted moves to teh right then the windmills will work?  Boy I knew Teddy was big but not big enough to block the wind.

Nuke em til they glow then shoot em in the dark.

Considering his stance on

Considering his stance on issues, the only direction he could move is to the right. If he moved any further left he'd collapse in on himself.

Al Gore's stirring

Al Gore's stirring announcement:

 Gore sets energy goal for next president to heed

Just as John F. Kennedy set his sights on the moon, Al Gore is challenging the nation to produce every kilowatt of electricity through wind, sun and other Earth-friendly energy sources within 10 years, an audacious goal he hopes the next president will embrace. ...

...Rising fuel costs, climate change and the national security threats posed by U.S. dependence on foreign oil are conspiring to create "a new political environment" that Gore said will sustain bold and expensive steps to wean the nation off fossil fuels....

...To meet his 10-year goal, Gore said nuclear energy output would continue at current levels while the U.S. dramatically increases its use of solar, wind, geothermal and clean coal energy. Huge investments must also be made in technologies that reduce energy waste and link existing power grids, he said.

And there we have it folks, the oil free economy panacea goal of 10 years from the High Priest of AGW. Didn't he say the planet was supposed to be irreversably damaged in 10 years, 10 years ago??? Never mind that rising fuel costs were artificially produced by his Dem allies in Congress banning drilling for oil and natural gas.  His solution is to use undependable, unsustainably high priced energy substitutes for oil.  No new nuke plants either.  So the upshot is Al Gore plans for the next POTUS is to increase the cost of living by going oil free.  The guy can't get elected if he wanted to and now has the effrontery to tell the next POTUS how to run the country!

Oh, but it gets better with Gore's rhetorical flimflam:

The Alliance for Climate Protection, a bipartisan group he leads, estimates the cost of transforming the U.S. to clean electricity sources at $1.5 trillion to $3 trillion over 30 years in public and private money. But he says it would cost about as much to build greenhouse gas-polluting coal plants to satisfy current demand.

So we are to spend trillions of dollars because we would have spent them anyway.  What a bunch of hogwash.  If it would cost just as much to build an alternative energy plant versus similar sized coal fired plant then why aren't they doing that now???  So, that's a blantant falsehood.  Also implicite is the assumption that the total amount of electricity generated would remain at today's levels, NOT GOING TO HAPPEN! Thus you would only have to replace older plants as they reach the end of their useful lives.  Alternative energy would have been used long ago IF it was cost effective, it's not. That's why Dems banned drilling to make the price of oil more expensive.  Not even geothermal plants are cost effective against coal, otherwise the electric companies would be building them left and right.  The only scenerio where solar, wind and geothermal are cost effective is at a significantly higher price point than now.  Are you prepared to double or triple your electric bill??????

Of course the most obnoxious comment was this:

The Nobel Prize-winning former vice president said fellow Democrat Barack Obama and Republican rival John McCain are "way ahead" of most politicians in the fight against global climate change.

Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.  

Summation

That's an awful lot to read to learn that Gore's counting on his party's ignorance of oil issues to consider this 'strategy'.

JDW

SAPPY NEWS

DAILY WAVE

Dscott...sorry, but if

Dscott...sorry, but if AlGore said it, I dont wanna hear it, see it or read it....JMO. It has to be nothing but hot air anyway. No offence...  

Save a SeAL, club a liberal!!

No, the financial crisis is

No, the financial crisis is not over...for the libs.  As you can see plainly here, the bastion of power for liberaldom , the newspaper industry is in recession (2 consecutive qtrs).  Of couse we could look at CBS and see it has been in recession since last year even with the Dem debate bounce earlier this year (Now you know why the Dems were boycotting FNC, the MSM was getting a stock value gain kick back via the Dem boycott manipulating the ratings).

In the Socialist State of California, the El Centro area is experiencing 19.2% unemployment.  The overall state unemployment is 6.8%, well above the national average.  Of course, Michigan, another lib Dem dominated state with the double blessing of unions is at 8.5% unemployment.

So yes, there is a recession, stop denying it!!!!  Otherwise the Dems will make sure the whole country goes down the tubes by blocking all drilling thus spiking oil even higher, if they're going down, they won't go down alone.  What's that scene from the movie, The Wrath of Khan?  In the final battle between Khan and Kirk, Khan engages the self destruct in order to blow up both him and Kirk.  His last words were: "No. No, you can't get away. 'From Hell's heart... I stab at thee. For hate's sake I spit my last breath... at thee'."

 Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.  

And now, today's Shrub

And now, today's Shrub Report®:

Ninety years ago today, The Russian royal family were liquidated.

Remember the new story trumpeting the death of nine US paratroopers in Afghanistan? Quagmire! Quagmire! Here is the rest of the story.

The Messiah will travel with the usual entourage of adoring media folk. Meanwhile, The Messiah turns $100 million into $52.million. It's a miracle! Of course, as with every religion, you will have your hard-liners

Meanwhile, Obama's websites scrubs clean any hint of being against The Surge.

The genius behind the Texas polygamist police raid is in twouble

CNN never makes things sound worse than they actually are.

You know when the people against you are the Socialists, Greens, and Communists, you are doing the right thing.

The latest in the Pennsylvania Bonusgate scandal. Did the Democrat(ic)s squash a primary opponent of Bobby Casey? Shocking!

The Dog Lover of the Week.

The Dad of the Week.

Deaf person sues McDonald's because they cannot hear at the drive-thru. I imagine a blind person will sue for the same reason next?

Oh, a wild tire breeding ground! We must not disturb it!

Filthy Jooooos send forth legions of rats to assault innocent, peace-loving Palestinians. Speaking of Jooooos.

 

And, finally, the hottest chicks in professional golf

 

Someone to Wachovia me

I just want to know the best way to make money when one o these panics starts.

With all that money and all that confusion. somebody's skimming big time

  • LYDSEXICS UNTIE

That's Walkoveryou.

That's Walkoveryou.

The Auto Industry is next

I wish the financial crunches were over, but the Auto Industry is next. Their stupid financing strategy of rolling unpaid balances from old car loans into new car purchase loans has half of America way upside down on their current cars/loans. We're approaching critical mass there - that strategy was amazingly short sighted. GMAC asked for this one just like the mortgage industry asked for theirs.

→ It ain't near over

We've still got the credit card companies yet to fall.  The creative accounting is horrendous, it's all out in the open, and it's all your fault.

Hide and watch.

Dig deep,  that's gonna be a whale of a bail.

  • LYDSEXICS UNTIE

Would you like fries with that?

Good news for us xenophobic vigilantes. $1 million dollar fine for hiring illegals.

D

Keep the ILLEGALS out, join NumbersUSA to send free faxes to your reps.

Scumbag Jack Murtha was

Scumbag Jack Murtha was outraised by his Repub opponent by a whopping $500,000 in Q2 08.
Hurry, Jack, you better add more pork projects into upcoming bills to buy those votes!

I only live about 6 hours

I only live about 6 hours from his district. I would be happy to head over their daily to help knock this idiot out.