Dqotd

[Midpack]

I'm paraphrasing Lou Dobbs here:

The average cost of a home in the US is $206,000. There are about 1 million homes in foreclosure in the US. If the gubmint bought all these homes outright it would cost $206 billion.

So why was/is the financial bailout, stemming from the housing bubble collapse, costing $700 billion? Sounds like little if any of that money is going to housing anyway - where is it going?

 

[dex]

Not all the money is going into housing.

Generally, the housing market problems resulted in credit problems in all other industries - financial markets seized up - stopped money flow - since banks did not know who was/will be in good financial shape to pay things back. So, all economic activity is slowing down.

The current issues don't bother me as much as the seeds of the future problems we are planting now.

 

[fisherman]

Just a little math for example:

100,000,000
206,000 ×
--------------------------
20,600,000,000,000 =

20.6 Trillion not 206 billion

 

[FinanceDude]

Just a little math for example:

100,000,000
206,000 ×
--------------------------
20,600,000,000,000 =

20.6 Trillion not 206 billion

gee, that makes me wonder why we only spent $700 billion on the bailout, we should have spent more........

 

[calmloki]

Just a little math for example:

100,000,000
206,000 ×
--------------------------
20,600,000,000,000 =

20.6 Trillion not 206 billion

Was just checking - maybe ol' Lou is thinking European million:

"In particular, a billion is 10*9 = 1 000 000 000 in the American system and 10*12 = 1 000 000 000 000 in the European system. For 109, Europeans say "thousand million" or "milliard."

 

[Bestwifeever]

Also, that doesn't mean there are 100,000,000 outstanding mortgages for $206billion.

 

[Notmuchlonger]

Whatever the case its just peanuts right. I mean we will just print more money. Problem solved! Damn I could run for congress.

 

[Bestwifeever]

Whatever the case its just peanuts right. I mean we will just print more money. Problem solved! Damn I could run for congress.

Send a check to Illinois and you can be in the Senate by the end of December!

 

[Goonie]

Send a check to Illinois and you can be in the Senate by the end of December!

Heck, just deposit a couple hundred grand into my off-shore bank account, and I'll put in a good word for you for the governor's seat....'cause it's soon to be empty!

(we don't hold elections in IL anymore....we hold auctions...it's simpler 'cause no one has to go to the cemetery to collect voters!)

Blago could use a little bit of that $700 billion.....for his own bailout (of jail).

 

[Notmuchlonger]

Ohhh Governor. I wonder if it would be like that show Benson!

 

[Midpack]

Just a little math for example:

100,000,000
206,000 ×
--------------------------
20,600,000,000,000 =

20.6 Trillion not 206 billion

Whoops, I corrected my OP, I mis-remembered what Lou said. I remembered $206,000 average price and $200B to fix it all - not very good with a calculator am I?

Can I manage anyone's money for them - you could make 100 times your money (or 1/100th...)?

 

[Goonie]

Ohhh Governor. I wonder if it would be like that show Benson!

[-]Our[/-] The guv in IL makes the one on Benson look like an Einstein! He's wondering if all this negative press is going to hurt his chances to run for Prez in 2016!

I'm waiting for him to claim that he was going to use the money from the sale of Sen. Obama's seat, to help bailout our state's economy...."Yeah...yeah, that's it....I wasn't going to keep that money! I was going to put it into the State's coffers to help the people of Illinois! Yeah, that's what I was gonna do! Honest, I was!"

</hijack>

Yeah, all those 0's throw me off too...millions...billions....trillions....heck, I dunno! I can only cypher up to 10 without taking my shoes off!

 

[Bestwifeever]

It's just like Benson except every other word is "BLEEPING", it sounds like on the transcripts.

 

[Goonie]

It's just like Benson except every other word is "BLEEPING", it sounds like on the transcripts.

He's a bit of a potty-mouth.....and his DW sounds like she's worse than he is! That (bleeping) sets a (bleeping) poor (bleeping) example for their (bleeping) little (bleeping) kids! What the (bleep) do they (bleeping) think they are (bleeping) doing? The (bleeping) Guv and his (bleeping) wife need to stop all their (bleeping) swearing! It's just a bunch of (bleep)!

 

[Lakedog]

Just a little math for example:

100,000,000
206,000 ×
--------------------------
20,600,000,000,000 =

20.6 Trillion not 206 billion

It was 1,000,000 homes, not 100,000,000......so the $206 billion would be correct. Are there even 100 million homes/mortgages in the US?

 

[fisherman]

The poset was edited /? corrected after my point per this note which is above:

Whoops, I corrected my OP, I mis-remembered what Lou said. I remembered $206,000 average price and $200B to fix it all - not very good with a calculator am I?

Can I manage anyone's money for them - you could make 100 times your money (or 1/100th...)?

 

[Lakedog]

The poset was edited /? corrected after my point per this note which is above:

Sorry about that -- didn't catch the edit...

 

[lazygood4nothinbum]

lololol what a strange conversation. this is why i don't listen to anyone, ever. it pays to be completely self-involved. who are you people?

(and to think this is where i come for my financial advice. what the hell was i thinking? -- thanks for the laugh, that was fun.)