Name:	Talullahhound -	Reply
Subject:	Biden decides that People with good credit scores
Date:	4/23/2023 11:08:08 AM

will now pay a surcharge to make money for those with Credit scores at 680 and under, so they can get mortgages at favorable rates.   He did this by EO.  Where will it end?

Name:	MartiniMan -	Reply
Subject:	Biden decides that People with good credit scores
Date:	4/24/2023 9:15:17 AM

I actually don't understand how this will work out given the already fragile mortgage and banking business.  I think once again the law of unintended consequences will come back to haunt us as is the case with almost everything Brandon does.  Rates are already up and have impacted the housing and mortgage markets.  More people will simply choose to rent or will be forced to buy less expensive homes. 

And does anyone believe that people with low credit scores are going to line up to buy a house simply because they get a little better rate and slightly lower costs?  From what I read it will increase the cost on a $400,000 home around $40 per month.  Or that banks are going to change their approval process?  This stupid EO will accomplish nothing other than driving real estate values further down.  As Forrest Gump said, "Stupid is as stupid does."  And Brandon was always stupid.....he's now morphed into a stupid person with dementia.  A deadly combination for the rest of us.

Name:	lucky67 -	Reply
Subject:	Biden decides that People with good credit scores
Date:	4/24/2023 10:19:47 AM (updated 4/24/2023 11:03:54 AM)

your payment goes to the lender--so how does the 'higher payment ( & what amount) get to a lower qualified buyer ? now penalized for having good credit ??? there is zero way to compute/administer this; how do thinhs like this get skirted around vote in Congress ? seems EO is the new autocratic way to run the country

Name:	Carlson -	Reply
Subject:	I smell another 2008 in the air
Date:	4/24/2023 2:50:13 PM

Financial meltdown like subprime credit default swops.  

Name:	Talullahhound -	Reply
Subject:	Eos
Date:	4/24/2023 5:20:30 PM

Executive Orders are supposed to be used on an emergency measure when something needs to be done, not to circumvent Congress.  Because, Congress is supposed to represent the people.  I think that all the recent President's have abused it, and I am extremely concerned about this abuse of EOs.  Why people are not fed up with this, I don't know.  Why Congress isn't screaming, I don't know.  Maybe it's time to take a white hot poker to our Congressional representatives.  

The only blessing is that the next President (assuming it is a Republican) can cancel them all, the first day in office.  

Our country is turning into a dictatorship

Name:	Talullahhound -	Reply
Subject:	I smell another 2008 in the air
Date:	4/24/2023 5:21:21 PM

Yes, the articles I read are saying that bankers are not happy, for just that reason.  

Name:	GoneFishin -	Reply
Subject:	Eos
Date:	4/24/2023 7:24:56 PM

"Our country is turning into a dictatorship" Trump turned the country into a crimnal enterprise and a dictatorship. Desantis has already turned Florida into a dictatorship.

The Right likes to preach local control but when Desantis bypasses local duly elected school boards they cheer him on.

Name:	Talullahhound -	Reply
Subject:	Eos
Date:	4/24/2023 8:16:50 PM

What does that have to do with Biden and Executive Orders?  

Name:	GoneFishin -	Reply
Subject:	Eos
Date:	4/24/2023 10:55:21 PM

What does Biden's eos have to do with dictatorship anymore than Trump's eos? It just depends on who you support.

Name:	MartiniMan -	Reply
Subject:	I smell another 2008 in the air
Date:	4/25/2023 8:26:38 AM

Time will tell but this is a far different cause but the results will be the same or worse.  Several things at work here that were not at play in 2008 that could make things worse. 

One is the collapse of the commercial real estate office market as a result of the pandemic and the resultant resistance to return to the office.  Already lots of open space (~13%) and much more to come when tenants don't renew their leases.  When the time comes to refinance it is going to be ugly for the developers and their current bank.  You're looking at a double whammy, less rental income and higher interest rates.  They are going to have trouble refinancing and all of them are in LLCs that they will take into bankruptcy (unless there are personal guarantees but the big boys don't do that).

Second, banks have long-term bonds that are paying almost nothing in terms of interest and the presure is on for them to pay higher interest on customer savings accounts. And given the reduction in bond values due to higher rates they don't have the option of cashing them in to bolster their balance sheets as they will incur a loss.  This is what doomed SVB or whatever it was called.

Third, if we go into recession it will do all the usual damage to the banking sector.  More mortgage defaults.  Less savings.  Higher credit card debt and subsequent defaults and so on.  Not to mention the specter of runs on banks which will be an end to them in a heartbeat.

Name:	MartiniMan -	Reply
Subject:	Goofy now has DDS
Date:	4/25/2023 8:28:25 AM

From this point forward, given his fear of DeSantis being the nominee, he will flood us with TDS and DDS posts.  At least with DDS he has a guy that is actually in office in the state he lives.  

Name:	Lighthouse -	Reply
Subject:	Goofy now has DDS
Date:	4/25/2023 8:53:20 AM

Like I said in the Lake Martin forum, Desantis has already got a room rented in his head

Name:	phil -	Reply
Subject:	Goofy now has DDS
Date:	4/25/2023 9:20:46 AM (updated 4/25/2023 9:21:06 AM)

SO GFY's head is like a timeshare- really expensive and almost impossible for someone to get out unless they have a (D) next to their name.

Name:	MartiniMan -	Reply
Subject:	Goofy now has DDS
Date:	4/25/2023 9:46:59 AM

And it's all free.  He really is scared of DeSantis.  I like him because I think he has the governing philosophy of Trump, can push back on the govt media without alienating women and doesn't have all the baggage of Trump.  And his wife would be a welcome change from our current first lady and the one before Trump.

Name:	wix -	Reply
Subject:	GOOF-IDIOT
Date:	4/25/2023 10:05:26 AM

Why don’t you move back home in New Jersey, where all yo dimokrap buddies live?  Or, maybe D.C. where you’ll really feel at home!

Name:	Talullahhound -	Reply
Subject:	I smell another 2008 in the air
Date:	4/26/2023 8:22:59 AM

Everything I have read and heard - general consenus seems to be that we wil go into a recession.  

Name:	phil -	Reply
Subject:	I smell another 2008 in the air
Date:	4/26/2023 11:47:10 AM

Many of us believe we are already in a recession but have been told to not believe our lying eyes/wallets.