I will politely suggest that being close to a topic or an "expert" doesn't necessarily make your opinions correct; in fact, it can have the opposite effect. There are many in my industry who have become so "socialized" to how the company or industry operates that they fail to see things from any other persepective. Sometimes it is good to have a discussion with others who aren't as "close" to the issue, even if it is at a high level.

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So a guy who spent years going to school to learn about the financial industry thinks that he can lecture others on how much they should know about financial matters?

I'm sure you are much less knowledgeable than your mechanic on your car but you still should expect a basic level of protection from regulation of that industry too.

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

so you think it's OK that we allow people to purposefully try and scam others? too bad youre dumb you dont deserve to have a chance in life?

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the world will always the world. your entire existence is defined by your response.

You're definitely right. If you asked 100 people in my industry if the banks should have been bailed out, probably 95 would say yes. I am a definite no.

If you ask 100 people about Fed interest rate policy, 95 would say we need low zero interest rates. I say we need market set rates.


I am almost the polar opposite of my colleagues. I have had hundreds of discussions on this topic with folks from all walks of life. And yes my opinion is just that. It is not right or wrong, just my stance.

I have the benefit of knowing all the government policies that led into the financial crisis. I underwrote Fannie Mae and met with their top management in Washington, for instance. I underwrote the Office of Finance, which raises money for the FHLB banks. Most don't even know how the FHLB system raises money at treasury rates, hands it to banks at low interest rates, for them to make home loans. WaMu and Countrywide had hundreds of billions of low interest rate federal money, and guess who got in the most trouble?

It is easy for Ike to say, force banks to make loans at 7%. I just know the implications of bad government policies on financial institutions.

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Hawaii (fuck) You

You're an asshole. There's no other way to say it.

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Hawaii (fuck) You

Why?

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

@both Denis & BRick

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whatever. i think we all know what lax government policies on financial institutions causes.... youre a fuckin dumbass. oh, and thanks for underwriting loans that absolutely screwed our entire economy. that was awesome. keep bragging about it too

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the world will always the world. your entire existence is defined by your response.

Denis doing work and laying it down. The attempts to discredit Denis, at this point, are laughable.

"Hey Denis, one would think that having years of direct experience and being an expert on the subject would make your thoughts accurate...well, one would be wrong. In fact it makes you not know what you're talking about."

Hilarious.

As for lecturing others on "how much they should know" Denis is simply saying that it's a good idea to know a little bit about what you're signing, how it will effect your entire life and to know a tad bit about your own finances. That seems not only reasonable but sound advice.

Bingo. That's it. You don't see me in music threads cause I don't know anything about it.

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Hawaii (fuck) You

the point is dennis is saying we need to go back to our old ways so this depression we are in never happens again

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the world will always the world. your entire existence is defined by your response.

Define "Old Ways."

No. That isn't what I'm saying.

denis is an expert and gets paid to know finance. Thinking some guy who works in a coal mine should have enough knowledge to manage all of their finances with little to no protections from the government just doesn't make sense.

It would be like a doctor looking down on others who don't understand enough to manage their own health. You didn't know the signs of appendicitis and you almost died! Where is your personal responsibility?

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Slavery.

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Not only have they done little to prevent a replay of 2008, but they have practically guaranteed a repeat. The fact that people are still allowed to buy a house with down payments of as little as 3-5% tells you there will absolutely be another crisis when the bubble bursts.

The government can't have it both ways. You want lenders to offer loans to people who are desperate? Then let them charge 28% or whatever they need to operate a profitable business. If you forbid them from doing so, then they won't exist, and you'll get complaints that there are no lenders.

Regarding rates, Yellen and Fed are complete hypocrites. She recently spoke about the problem of growing inequality, when in fact the single biggest reason for growing inequality (at least recently) is the rise in wealthy people's stock portfolios -- which is due 100% to her and the Fed's refusal to let rates rise.

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The economy is still wrecked and the floor has been dropped ever lower....the interventions and fiscal/monetary/regulatory schemes that have been trotted out have done an average job at papering over it. When the house of cards that is built on the busted house of cards collapses....that's the really haymaker.

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Hawaii (fuck) You

denis, why bring up something that's not realistic?

We should all stop committing crimes too. But we wont, so we have to address that.

Then we wouldn't be able to talk about a Cubs World Series, would we?

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Hawaii (fuck) You

Hey denis,
Why am I an asshole?

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

This might needs its on thread.

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2018
#ExtendLafleur
10 More Wins

I'm unclear as to why Dennis agreed with Jaw Breakers comments when JB seemed to be against allowing people to borrow with only 3 - 5% down. Doesn't that seem to fly in the face of your free market solutions?

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I think your confused.

The 3-5% rule is set by the government for Fannie Mae and FHA loans. The Federal Government should not be in the business of guaranteeing loans. But in the context of our current system, loosening lending standards, including down payments percentages, makes no sense if you are worried about a repeat of the recent financial crisis.

I am in favor of very tight lending standards when it comes to government guaranteed loans.

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Hawaii (fuck) You

Denis, you know what you're talking about which, unsurprisingly, means you don't know what you're talking about and should just shut up and leave it to the pros.

You're...

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Still no answer.

I must have struck a nerve and made it on his foe list. I guess personal responsibility doesn't mean standing up for your comments!

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Dude, seriously?

Is that your thing? Being a grammar douche?

Fuck off.

I'm not encouraging your poor behavior by responding to it.

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Sounds like I got you running in circles. And I've only corrected your grammar once today.

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