Don’t forget the coastal waters too.

Roll back all those environmental and worker safety laws so that “exploring for energy” and “clean coal” can be more profitable affordable.

benmaller Says:
Buckie Boy Says:
benmaller Says:If it’s good the elites…(WTF, you are a moron)

Elites are a fictional alien race in the Halo series by Bungie Studios. You don’t think they should be able to golf? Racist!!

I guess it shouldn’t come as a surprise that wingnut trolls can’t tell the difference between fantasy and reality. It’s that inability that allows them to function as wingnut trolls.

If it’s good the elites…(WTF, you are a moron)

I can’t golf anyway…

…and you don’t do grammar very well, either.

I do know what you mean. All that watering of your fairways evaporates straight up into the permanent brown inversion cloud that hangs above your “Valley of the Sun.”
LOL

Not so much…he trashed it right away…seems how you start out with a typo, and a sentence structure that is near 4th grade level.

Thought I would post this and watch the Trolls heads explode!!!

HaHa! (in my best Nelson Munze voice)

BTW our golf courses have never been in better shape, we have so much water here that SRP is releasing excess from the reservoir system. Must be that Global Warming deal, know what I mean?

Funny how public infrastructure like dams, all the piping and sewer work, help you and your idiots buddies fumble around the links.

BTW our golf courses have never been in better shape, we have so much water here that SRP is releasing excess from the reservoir system. Must be that Global Warming deal, know what I mean?

No, ben. What do you mean?

Tweedster Says:

benmaller Says:

Holey Crap!! He’s making sense so far, He actually understand the problem, He must have read my e-mail.

Gosh, you are a jokester! Youbetcha!

With a little work, he’ll be right up there with Dennis Miller!

Set that bar high, ben!

Holey Crap!! He’s making sense so far, He actually understand the problem, He must have read my e-mail.

Gosh, you are a jokester! Youbetcha!

It was Barney Frank forcing Fannie Mae to give mortgages to lazy welfare recipients what caused the crash.

drew3rd said so.

Time to buy some pharma stock, I guess. There’s gonna be a 4-year boom in valium, xanax, oxy, etc.

Errrhmmm….!

As I understand it the “underlying cancer” was the deregulation of lending and mortgage practices that allowed investment firms to create mortgage-based “investment vehicles”, the value of which was not based on the market value of the houses but on the trading of the mortgage packages which encouraged the buying and selling of those mortgage packages rather than the buying and selling of the houses to which they were ‘attached’.

To make the “mortgage investment vehicles” a more desirable market investment (than say, oil futures), home buyers were encouraged to borrow more by buying more expensive houses than they otherwise would have, thus inflating the price of the mortgage and thus inflating the potential and price of the derivatives which resulted in larger commission fees (charged as a percentage of the ‘value’ the investment package which in turn relied on the ‘value’ of the mortgages).

The bigger the mortgage the more that could be earned from the interest (and the more that could be earned from the investment package), thus house prices rose and demand for mortgage-backed investment vehicles rose too. But this scheme was predicated on the idea that the home-buyers would be able to keep up with the interest payments. However the average home-buyer’s wages were stagnant, as was employment, and the cost of living was increasing. The investment banks and the investors couldn’t or wouldn’t see this fundamental threat to their business model. Just as the homeowners were persuaded (or persuaded themselves) to borrow more than they could really afford, so too did the investors in the mortgage-backed packages, whilst the brokers consolidated their businesses around the packages at the expense of other investment vehicles and due to the paper profits being generated (actually just projected profits) they borrowed too.

So when home mortgage owners en masse fell behind in their payments due to increases in other expenses (energy, health, food etc) or through pay cuts or job loss, their mortgages lost their value because they had to stop paying. The investment packages thus lost their value and the investors and brokers lost the income they were counting-on to pay the interest on the money THEY had borrowed (and spent on junkets and executive jets for instance) too.

I’m sure a large percentage of the money ‘lost’ as a result is imaginary—the various market valuations being based on assumed future profits—but as that’s how a lot of ‘high finance’ works ‘imaginary’ losses are effectively real.

IMHO it wasn’t just the housing market that was inflated, but the financing market, because so much is based on credit which is based on yet more credit and the major problem is that whilst it can take months for a physical asset to be sold, before a profit or loss might be realized it takes only seconds for the financing of that asset to deliver the same. No wonder the housing market and thus Wall Street and the US economy rose and fell so quickly—it was built on sand.

But seriously, You know Camelback is Scottsdale and N. Phoenix. We’re in Mesa, Guadalupe appropriately enough.

Is Ben actually John McCain?

unbelievable Says:
benmaller Says: Can’t wait for the details of the housing bailout, it’s going to affect my business for sure.

If you’d stop thinking that it’s all about you, and suporting people who do, we wouldn’t be in this financial crisis to begin with.

Don’t think that’s gonna happen. menballer — um, benmaller is a Republican, after all.