Bail-outs
Moderator: Priests of Syrinx
- Walkinghairball
- Posts: 25037
- Joined: Wed Apr 21, 2004 9:42 pm
- Location: In a rock an roll venue near you....as long as you are in the Pacific Northwest.
- Walkinghairball
- Posts: 25037
- Joined: Wed Apr 21, 2004 9:42 pm
- Location: In a rock an roll venue near you....as long as you are in the Pacific Northwest.
CygnusX1 wrote:Dude, you better pick up the phone.Walkinghairball wrote:CygnusX1 wrote:Maybe, they can throw an extra, say...$5,000 in there... to bail ME OUT of MY market losses?
Yeah, I've lost about 5k....I'm not ashamed to admit it.
BAIL ME OUT!
I haven't even looked to see where the 2k we have/had, has ended up.
I called my financial guy today.
I had 5k in it to start which at it's peak had grown to about $6,700. Right now it is at $5,700. I still have mah munny!!!!!
If I was to cash it out, I would pocket about $4,400. Taxes and penalties are a mofo.
This space for rent
- Walkinghairball
- Posts: 25037
- Joined: Wed Apr 21, 2004 9:42 pm
- Location: In a rock an roll venue near you....as long as you are in the Pacific Northwest.
- ElfDude
- Posts: 11085
- Joined: Wed Dec 31, 2003 1:19 pm
- Location: In the shadows of the everlasting hills
- Contact:
Just got a surprise phone call from bill2112 (or whatever his screen name is on here). He just called to catch up, but we ended up talking a little about this mess going on.
Bill has been climbing the corporate ladder at Countrywide for a long time, and has a little bit of insight into what's been happening. He mentioned that the VP debate misrepresented what's happened, along with anyone who keeps blaming deregulation. In his words, "There's been no deregulation of the lending industry. Our states regulate the HELL out of us!"
So I asked him about the 1999 LA Times article I posted in here... the one that praises the Clinton administration for pressuring the industry to give mortgages to folk who normally wouldn't qualify. He laughed. He stated that that was absolutely true but that the industry actually liked it, because they saw it as the potential to make a lot more money. And for a while they did. Bill was a "risk manager" at the time and he stated that he was very vocal in his opposition to what was going on. And he predicted trouble in the future. Not global trouble like we're seeing now, but trouble for the company. But a lot of the top guys liked it because they made millinons on it. And it didn't hurt BIll either at the time. He said the bonuses were GREAT. He was able to take his girlfriend and her daughter on a great 10-day vacation to France with bonus money.
But it's coming back to bite everyone now.
Bill has been climbing the corporate ladder at Countrywide for a long time, and has a little bit of insight into what's been happening. He mentioned that the VP debate misrepresented what's happened, along with anyone who keeps blaming deregulation. In his words, "There's been no deregulation of the lending industry. Our states regulate the HELL out of us!"
So I asked him about the 1999 LA Times article I posted in here... the one that praises the Clinton administration for pressuring the industry to give mortgages to folk who normally wouldn't qualify. He laughed. He stated that that was absolutely true but that the industry actually liked it, because they saw it as the potential to make a lot more money. And for a while they did. Bill was a "risk manager" at the time and he stated that he was very vocal in his opposition to what was going on. And he predicted trouble in the future. Not global trouble like we're seeing now, but trouble for the company. But a lot of the top guys liked it because they made millinons on it. And it didn't hurt BIll either at the time. He said the bonuses were GREAT. He was able to take his girlfriend and her daughter on a great 10-day vacation to France with bonus money.
But it's coming back to bite everyone now.
Aren't you the guy who hit me in the eye?
- Big Blue Owl
- Posts: 7457
- Joined: Thu Aug 17, 2006 7:31 am
- Location: Somewhere between the darkness and the light