Journal nizo's Journal: Spanish Bank Buys Sovereign - NYTimes.com 15
Ok I am not crazy about the govt owning banks, but other countries? Yeah that doesn't sound good at all. Thoughts?
http://www.nytimes.com/2008/10/14/business/worldbusiness/14bank.html?ref=worldbusiness
Ah, come one... (Score:1)
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Heh... riiiight... :-)
Bailout (Score:2)
The government bailout PISSES ME OFF. My mortgage company tripled my payments and is adding a shitload of charges, it's like they're not in the business of making loans for the interest, but collecting foreclosed houses. Almost all of my last paycheck when to the mortgage. That's money the bars, barber, grocer, clothing store, etc don't get from me.
And the God damned government bails these bastards out with MY tax money! God damn it, let the motherfuckers go broke. No strike that; put the fucking thieves in
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Yep. The Fed. That's no bailout - it's a heist.
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My mortgage company tripled my payments and is adding a shitload of charges...
I don't understand -- don't you have a contract for a set amount of time at a certain percentage rate which then gets renegotiated at the expiration of that time period? I'm accustomed (in Canada) to seeing either fixed rate mortgages (eg: 5 years at x%) or variable rate morgages (eg: 5 years at prime + y%) where the y% is adjusted periodically. The first result for "fixed rate mortgage" on google.ca yields this site [tdcanadatrust.com] which has a rate of 6.14% -- not the best deal one could negotiate, but a $500,000 mortga
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can you move your mortgage somewhere else?
Not if his house dropped in value so he owes more than it's worth. If he did refinance like this, the best he could do is pay off "most" of his current mortgage, and have to write two mortgage payments a month... and that's assuming he'll find a bank that will loan him the money in the first place.
fixed rate mortgages (eg: 5 years at x%) or variable rate morgages (eg: 5 years at prime + y%) where the y% is adjusted periodically.
Don't know what kind he got, but the
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Yeah, I saw that last week, somebody posted it as a slashdot journal.
I saw a political cartoon showing the roof of a tall building, and the speech balloon points to the street below with the caption "I'm ok, I landed on a taxpayer!"
Another shows two guys in suits standing on a ledge, with the fat one on the right wearing a golden parachute.
Either one of the mainstream candidates could get my vote by offering me a bailout. Instead, fuck both the corporate whores, I'm voting third party.
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Seriously, though, what kind of mortgage do you have that allows that large a swing in payments?
Not another country (Score:2)
It's not another country buying the Sovereign, it's a bank buying Sovereign. Santander is a private company, not a country.
Foreign investment is generally seen as a good thing - and Santander doing this is foreign investment into the United States.
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Well, that was the flip side positive I thought of: money coming in from another country is a good thing. And yeah, thanks for pointing out it is a company and not a country...
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And yeah, thanks for pointing out it is a company and not a country...
Not a whole lot of difference...that couldn't fit on the head of a pin
Double-edged sword... (Score:1)
I don't think it's either a really good or really bad thing, per se.
Right now, I'm not too crazy about the way business is done in America. I mean, there's plenty of blame to go around: the inexcusable (if only "quasi-legal") activities of those who created "securities" based on inflated-value bank loan repayments, the investment banks for buying into these schemes as "investments", the local banks who pushed homeowners into these equity schemes, and our federal government for repealing really sound post-De