Comments on: Leading Wall Street Analyst Speaks

By: LD

LD — Tue, 24 Feb 2009 14:35:47 +0000

What do you know about me? When did we meet?

By: Illinois Voter

Illinois Voter — Tue, 24 Feb 2009 04:12:07 +0000

http://video.google.com/videoplay?docid=7065205277695921912&ei=tnSQSfncNZCq-wHg_vX8CQ&q=zeitgeist&hl=en

Zeitgeist Addendum

This video is worth watching, especially the Federal Reserve Bank and how it controls our debt for profit. Unless we the people stop living on credit we will not be financially solvent. This video is a 2 hour video, but educational.

By: Diana L. C.

Diana L. C. — Tue, 24 Feb 2009 03:16:30 +0000

No, he was talking about doing spending cuts, too. And don’t tell me that spending cuts and budgeting better in all government departments wouldn’t go a long way.

By: Diana L. C.

Diana L. C. — Tue, 24 Feb 2009 03:14:27 +0000

Your description of teacher training days fits my experience exactly. They were always total wastes of time. It was like being in high school. The “popular” kids got to show off about something along with the ones who were the “officers” of the “studen council.” All the rest of us sat there thinking, “How much longer” or “when can we get out of here” or “how can I make it seem I have an emergency to take care of?”

I am sure our college professor CIC does conduct such useless meetings.

Awful!

By: FLDemFem

FLDemFem — Tue, 24 Feb 2009 02:26:58 +0000

I made the requests in meetings with my trust officer and the financial adviser. I do have witnesses, therefore, but they all work for the bank. The bank itself is the trustee. I have a very good attorney who does my taxes, he is one of the leading business and tax attorneys in the US. I will consult with him as to the course I should take. I am going to try to wait it out since I keep reading that the market should rebound, or at least stop dropping soon. If it doesn’t, I will take whatever steps my attorney recommends. Thanks for the answer..I was feeling like there was nothing I could do but watch my life go down the drain with the stock market. The bond idea came from my grandparents who got through the depression with their assets intact due to having invested in bonds and utilities. My grandfather said that even if the utilities couldn’t pay what was due in interest, they would still owe it when they could pay it. Same with state bonds, and the capital didn’t diminish during the hard times. So at the end, when things get better, then income goes back up to normal levels, the IOUs are paid in full, and the capital is intact. That is what I wanted with my trust. I didn’t get it. It is also what I tell people who ask me for investment advice. If it got my grandparents, who were very well off, through the depression with their capital intact, I figured it would do the same for me.

By: Larry Doyle

Larry Doyle — Tue, 24 Feb 2009 02:09:26 +0000

Do you have any sort of documentation of your discussions and requests? Did you make any requests in writing? Did you have any meetings with others in attendance?

I would recomemnd that you review the trust document. Typically there is a trust manager but also a trustee. Did you ever have discussions or meetings with the trustee? Any records?

I would recommend that you review your trust document as well.

I hope that this provides some degree of guidance.

By: TeakwoodKite

TeakwoodKite — Tue, 24 Feb 2009 01:33:52 +0000

The Obama administration’s mortgage- modification plan offers the most aid to homeowners who “really stretched to buy their house and lied the most about their income,” Amherst Securities Group LP analysts said.

This pisses me of especially when BO is out at the podium berating others for doing what he did.
What a boneheaded move. Buying a house with Auchi’s money and knowing you could not afford it unless you jammed the Wolfords via the Historic Building Board to split the lot and having the sale put in trust so the piticulars where attached to the trust instead of him that made the move. AND THEN LIE ABOUT IT!. HEAR ME NOW! (ala Byrd) Is this all this IGIT can manage?

By: MBC

MBC — Tue, 24 Feb 2009 01:00:21 +0000

Chris, you’re right, we are in uncharted territory and the ship’s captain has no experience. We need a Sully not a Pretty Boy!

By: Linda C.

Linda C. — Tue, 24 Feb 2009 01:00:18 +0000

I agree

Unfortunately McCain could only provide the republican one liner of “tax reductions” as a means to solve everything.

By: lark

lark — Tue, 24 Feb 2009 00:53:20 +0000

McCain would have had zero answers but Palin would have talked the economy up by showing everyone that reducing a sauce means making it more hearty, sweeter and with a stronger flavor. Palin teaches children that men don’t cry.

By: FLDemFem

FLDemFem — Tue, 24 Feb 2009 00:40:05 +0000

I just have one question. Does anyone know, or have a clue, as to when the market is going to stop its current free-fall? Since Obummer got elected he has cost me over $500,000 in lost value in my irrevocable(until 2013) trust fund. I don’t live rich, I get about $32,000 a year for supporting myself and my animals. At the rate it’s dropping, I am going to end up broke and homeless, since I have a mortgage with a balloon payment coming up in 2013. I am also considering suing the trust bank where my account is since I had BEGGED them to put most of the money in bonds, FL bonds to be specific. If they had, I would not be facing ruin, I would have a nice tax-free income that was not impacted by the stock market. Instead they told me that they knew what they were doing and that I shouldn’t not trust the stock market. They were so wrong. I had been asking them literally for years, since 1993, to put as much in bonds as is legal in the state where the trust is, which would be 70-75%. They refused to do so. So as a result, the trust that was supposed to look after me for the rest of my life is almost gone. I am trying to hang in there, I really am. But for the first time in my life, I am taking antacids and having trouble sleeping. I cannot liquidate, I do not have that authority yet. Every time the market drops, so does my asset value. Does anyone know if I can sue that bank for not listening to me even though they were not required to by law? God, I am so worried. I am in my late 50′s and the only job skill I have, horsemanship, I am physically unable to do. That is why I live on my farm with retired race horses. Does anyone have any ideas for me?

By: Chris

Chris — Tue, 24 Feb 2009 00:36:23 +0000

There are no easy solutions to any of this. No matter what you do you will be critized. We are in uncharted territory and the problems are just so large. Not sure if McCain would have had the answers.

By: an observer

an observer — Tue, 24 Feb 2009 00:22:53 +0000

“I worked in the mortgage business on Wall Street for 23 years.”
That is your resume?
Fired! Enough said.

By: Mary

Mary — Tue, 24 Feb 2009 00:21:07 +0000

Agree completely.

And the 2 epicenters of the subprime mortgage fiasco, due to very lax state regulations of mortgage broker licensing—California and Florida—have Republican governors in very deep shit who are supporting the $$$ give-away.

And Obama’s team claims that’s “bipartisanship.”

Sheesh

By: Andy

Andy — Tue, 24 Feb 2009 00:04:15 +0000

LD:

I just noted you answered me a similar question already in a previous post re. Sheila Bair !! So never mind this above comment LD.