Comments on: If You Can Keep Your Head http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/ Fri, 25 May 2012 00:53:00 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Eric http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1158146 Eric Sat, 14 Mar 2009 16:12:36 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1158146 <strong>low fat diet sheet...</strong> Although I understand the gist of what you are trying to say, there are still a few points that I need further clarification on.... low fat diet sheet…

Although I understand the gist of what you are trying to say, there are still a few points that I need further clarification on….

]]> By: Andy http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1147803 Andy Tue, 24 Feb 2009 00:12:27 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1147803 LD: I also admire Sheila Bair and have quite a bit of respect for her ideas. I think she's incredibly smart. Bair was dutifully making the rounds reassuring people on Feb 19th, the day Obama unveiled his plan. But I agree that she had been in the background since November and I was not pleased by the Adm. not bringing her ideas more vocally to the forefront. On retrospect I feel like they might have used her ideas and not giving her, her due credit... (not good) She is a republican so maybe that's the price they made her pay to keep her at FDIC? I certainly thought she was going to have a higher profile in the housing plan and in this Adm. altogether... Reading Ms Goodman at Bloomberg it seems she and Bair are at odds in who to help in the mortgage restructuring plan? LD:

I also admire Sheila Bair and have quite a bit of respect for her ideas.
I think she’s incredibly smart.

Bair was dutifully making the rounds reassuring people on Feb 19th, the day Obama unveiled his plan. But I agree that she had been in the background since November and I was not pleased by the Adm. not
bringing her ideas more vocally to the forefront. On retrospect I feel like they might have used her ideas and not giving her, her due credit…
(not good) She is a republican so maybe that’s the price they made her pay to keep her at FDIC? I certainly thought she was going to have a higher profile in the housing plan and in this Adm. altogether…

Reading Ms Goodman at Bloomberg it seems she and Bair are at odds
in who to help in the mortgage restructuring plan?

]]> By: Larry Doyle http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1147795 Larry Doyle Mon, 23 Feb 2009 23:43:00 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1147795 Wow...you're awesome. My concern is that while Sheial Bair was very vocal and public during the last few months of 2008 and through the first few weeks of January, she seems to have taken a much lower profile over the last month. Maybe not and it is just me but I have not seen her out on the stump. For me she inspired confidence and determination. Thanks agin for the links. Wow…you’re awesome. My concern is that while Sheial Bair was very vocal and public during the last few months of 2008 and through the first few weeks of January, she seems to have taken a much lower profile over the last month. Maybe not and it is just me but I have not seen her out on the stump. For me she inspired confidence and determination.

Thanks agin for the links.

]]> By: Andy http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1147783 Andy Mon, 23 Feb 2009 22:55:53 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1147783 Thanks LD. I found a note about Bair's plan unveiled in Nov. 2008 here: "FDIC's Bair pushes aggressive mortgage plan The FDIC chairwoman unveils plan that would streamline modifications to put delinquent borrowers in affordable mortgages." http://money.cnn.com/2008/11/14/news/economy/fdic_bair/?postversion=2008111416 And she was on NPR, ABC, etc the same day as Obama unveiled his plan speaking positively about it... Here for example: http://www.reuters.com/article/topNews/idUSTRE51I2OT20090219?feedType=RSS&feedName=topNews http://abcnews.go.com/GMA/Business/story?id=6912589&page=1 Thanks LD. I found a note about Bair’s plan unveiled in Nov. 2008 here:

“FDIC’s Bair pushes aggressive mortgage plan
The FDIC chairwoman unveils plan that would streamline modifications to put delinquent borrowers in affordable mortgages.”

http://money.cnn.com/2008/11/14/news/economy/fdic_bair/?postversion=2008111416

And she was on NPR, ABC, etc the same day as Obama unveiled his plan speaking positively about it… Here for example:

http://www.reuters.com/article/topNews/idUSTRE51I2OT20090219?feedType=RSS&feedName=topNews

http://abcnews.go.com/GMA/Business/story?id=6912589&page=1

]]> By: Chris http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1146152 Chris Sat, 21 Feb 2009 03:22:03 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1146152 I am and have used it quite a bit. I feel as you do about not doing all one thing as much as possible. I would not be emptying out my total account. But I have thought that investing in owning bullion in hand would be a way of at least protecting some wealth because gold has value that fiat money doesn't. Just trying to cover all the bases in case of a total dollar collapse and high inflation. Just not sure if it is a smart move due to cost and prices at this point. I'll probably wait to see if gold pulls back but am afraid to miss the opportunity now. Should have done it long before now. Shoulda, woulda. coulda. Story of my investing career, lol. I am and have used it quite a bit. I feel as you do about not doing all one thing as much as possible. I would not be emptying out my total account. But I have thought that investing in owning bullion in hand would be a way of at least protecting some wealth because gold has value that fiat money doesn’t. Just trying to cover all the bases in case of a total dollar collapse and high inflation. Just not sure if it is a smart move due to cost and prices at this point. I’ll probably wait to see if gold pulls back but am afraid to miss the opportunity now. Should have done it long before now. Shoulda, woulda. coulda. Story of my investing career, lol.

]]> By: Larry Doyle http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1146114 Larry Doyle Sat, 21 Feb 2009 02:31:05 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1146114 Andy, If these are her plans I will say that she is getting NO credit for them in the NY market. I have not seen or heard from her in over two weeks. I could be mistaken. The cram down is currenlty more a "potential stick" than anything else. Many people think that we need some sort of principal reduction in mortgages to make progress in housing. The banks, servicers, and investors though think that principal reduction (cram downs) will do real damage to the secondary market for mortgages and cause mortgage rates to move higher. As that happens we will all pay that much more. Unintended consequences and collateral damage all over the place. I will see if I can find some info about Ms. Bair and these plans as I am a big fan of hers. Thanks for the heads up. Andy,

If these are her plans I will say that she is getting NO credit for them in the NY market. I have not seen or heard from her in over two weeks. I could be mistaken.

The cram down is currenlty more a “potential stick” than anything else. Many people think that we need some sort of principal reduction in mortgages to make progress in housing. The banks, servicers, and investors though think that principal reduction (cram downs) will do real damage to the secondary market for mortgages and cause mortgage rates to move higher. As that happens we will all pay that much more. Unintended consequences and collateral damage all over the place.

I will see if I can find some info about Ms. Bair and these plans as I am a big fan of hers.

Thanks for the heads up.

]]> By: Andy http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1146095 Andy Sat, 21 Feb 2009 02:13:54 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1146095 LD: I was under the impression that the "housing/mortgage plan" just "unveiled" was Sheila Bair's plan....Weren't for ex. these "cram-down" provisions her idea? Our local newspaper (MA) reported it as such as well ....And she was on almost every newscast (on NPR) the day BO announced the plan as saying the she thought it would yield results soon. Or something like it... Isn't it the case? (I recall in the Fall, reading somewhere that Barney Frank had asked her to draw up a plan) LD:

I was under the impression that the “housing/mortgage plan” just “unveiled” was
Sheila Bair’s plan….Weren’t for ex. these “cram-down” provisions her idea?
Our local newspaper (MA) reported it as such as well ….And she was on almost every newscast (on NPR) the day BO announced the plan as saying the she thought it would yield results soon. Or something like it…

Isn’t it the case?

(I recall in the Fall, reading somewhere that Barney Frank had asked her to draw up a plan)

]]> By: lizzy http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1145952 lizzy Fri, 20 Feb 2009 23:16:14 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1145952 The way the market has been we feel that we are only losing money. Buying gold is not necesarily an answer. Gold is a market; the price rises or falls according to demand. If people are afraid of inflation or scarcity they turn to gold and the price goes up. It is at a historic high now. When the oil crisis came in the late 1970s gold sold for about $800. an oz. As the price of oil fell and inflation receded gold prices dropped to the $350. price range and floated between that and about $600. until this last oil crisis last summer. The price of oil has now dropped but people are spooked by the economy so Gold prices are staying up. Prices will probably go higher but they could also go lower. At this time if you buy gold you are buying at a historic high so evaluate carefully all factors affecting your purchase. The way the market has been we feel that we are only losing money. Buying gold is not necesarily an answer. Gold is a market; the price rises or falls according to demand. If people are afraid of inflation or scarcity they turn to gold and the price goes up. It is at a historic high now. When the oil crisis came in the late 1970s gold sold for about $800. an oz. As the price of oil fell and inflation receded gold prices dropped to the $350. price range and floated between that and about $600. until this last oil crisis last summer. The price of oil has now dropped but people are spooked by the economy so Gold prices are staying up. Prices will probably go higher but they could also go lower. At this time if you buy gold you are buying at a historic high so evaluate carefully all factors affecting your purchase.

]]> By: cynic http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1145906 cynic Fri, 20 Feb 2009 21:48:11 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1145906 When stocks were high, how much might their <em>perceived</em> value have exceeded their <em>actual</em> value? In other words, were prices hugely inflated just because investors were thinking about stocks the same way some people thought about collector baseball cards? If that's the case, there could be a point coming where people suddenly realize shares in solid companies have become cheap beyond all reason. A lot of money may not be moving right now just because smart investors are in watching and waiting mode. When the moment comes, the market could turn around almost overnight. I wouldn't want to have a safe full of recently purchased thousand-dollar-an-ounce gold when that happens. The time to buy gold was probably months ago, and I kick myself for not doing it. But buying a lot of new gold <em>now</em> might be like getting in late on the 1634 tulip bulb craze. When stocks were high, how much might their perceived value have exceeded their actual value? In other words, were prices hugely inflated just because investors were thinking about stocks the same way some people thought about collector baseball cards?

If that’s the case, there could be a point coming where people suddenly realize shares in solid companies have become cheap beyond all reason. A lot of money may not be moving right now just because smart investors are in watching and waiting mode. When the moment comes, the market could turn around almost overnight.

I wouldn’t want to have a safe full of recently purchased thousand-dollar-an-ounce gold when that happens. The time to buy gold was probably months ago, and I kick myself for not doing it. But buying a lot of new gold now might be like getting in late on the 1634 tulip bulb craze.

]]> By: LD http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1145882 LD Fri, 20 Feb 2009 21:01:56 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1145882 Chris.... I never make an all or none move with investments. I "dollar cost" average into investments that I want to make. Are you familiar with that practice? Chris….

I never make an all or none move with investments. I “dollar cost” average into investments that I want to make.

Are you familiar with that practice?

]]> By: Chris http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1145877 Chris Fri, 20 Feb 2009 20:57:38 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1145877 Just a other thought, I will probably need to draw out of this retirement account in about 10 years. Will what's left recover in the markets in 10 years? That has never really been an issue before historically. But now, all bets are off. I'm pretty much in a pickle about what to risk and when. Just a other thought, I will probably need to draw out of this retirement account in about 10 years. Will what’s left recover in the markets in 10 years? That has never really been an issue before historically. But now, all bets are off. I’m pretty much in a pickle about what to risk and when.

]]> By: Chris http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1145869 Chris Fri, 20 Feb 2009 20:54:42 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1145869 Thanks for your input. My only real hang-up is whether to buy gold/silver bullion. Will the tax hit, price and premium to hold more bullion physically be worth it. My only real liquidity would be to take out of my IRA to finance a buy into physical metal. If Gold hits 2000 it might be worth it. But will it get there and should I risk it? Very difficult to decide that's for sure, for me anyway. I really appreciate your thoughts so thanks again. Thanks for your input. My only real hang-up is whether to buy gold/silver bullion. Will the tax hit, price and premium to hold more bullion physically be worth it. My only real liquidity would be to take out of my IRA to finance a buy into physical metal. If Gold hits 2000 it might be worth it. But will it get there and should I risk it? Very difficult to decide that’s for sure, for me anyway. I really appreciate your thoughts so thanks again.

]]> By: I'm a Linda too http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1145852 I'm a Linda too Fri, 20 Feb 2009 20:34:15 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1145852 thank you. thank you.

]]> By: QUEENIE http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1145844 QUEENIE Fri, 20 Feb 2009 20:24:40 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1145844 Thank you so much LD for your answer!!! I will do some reading of what you posted to see where .."we " stand. I knew we were living under a false economy and hubby and i got rid of credit cards and debt several years ago..when i saw Cheney move all his $$ out of the USA and the treasury got rid of the 3 something and just started printing worthless money. I just want to know if or when i need to get out of this country i can! Thank you!! queenie Thank you so much LD for your answer!!! I will do some reading of what you posted to see where ..”we ” stand.

I knew we were living under a false economy and hubby and i got rid of credit cards and debt several years ago..when i saw Cheney move all his $$ out of the USA and the treasury got rid of the 3 something and just started printing worthless money.
I just want to know if or when i need to get out of this country i can!

Thank you!!
queenie

]]> By: cynic http://www.noquarterusa.net/blog/14902/if-you-can-keep-your-head/#comment-1145801 cynic Fri, 20 Feb 2009 19:27:09 +0000 http://www.noquarterusa.net/blog/?p=14902#comment-1145801 <blockquote>We didn’t lie about our incomes.</blockquote> Several homebuyers interviewed on MSNBC's 2-hour "House of Cards" program reported that they <em>hadn't</em> lied about their income. Apparently loan processors, working on a commission basis, routinely falsified such application information to increase their volume of approved loans. Such agents were not generally required to have licenses, background checks, or any sort of training beyond how to fill out an application form. There was no 3rd party oversight of the process. A loan originator said one successful processor's only previous work experience had involved pizza delivery. Since the loan originators made their money based on volume also, and since they simply passed loans on to the next link in the chain, they also had little concern about anything other than maintaining high volume.

We didn’t lie about our incomes.

Several homebuyers interviewed on MSNBC’s 2-hour “House of Cards” program reported that they hadn’t lied about their income.

Apparently loan processors, working on a commission basis, routinely falsified such application information to increase their volume of approved loans. Such agents were not generally required to have licenses, background checks, or any sort of training beyond how to fill out an application form. There was no 3rd party oversight of the process.

A loan originator said one successful processor’s only previous work experience had involved pizza delivery. Since the loan originators made their money based on volume also, and since they simply passed loans on to the next link in the chain, they also had little concern about anything other than maintaining high volume.

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