finally, an explanation I understand

Heidi is the proprietor of a bar. In order to increase sales, she decides to allow her loyal customers - most of whom are unemployed alcoholics - to drink now but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans). Word gets around and as a result increasing numbers of customers flood into Heidi's bar. Taking advantage of her customers' freedom from immediate payment constraints, Heidi increases her prices for wine and beer, the most-consumed beverages. Her sales volume increases massively. A young and dynamic customer service consultant at the local bank recognizes these customer debts as valuable future assets and increases Heidi's borrowing limit. He sees no reason for undue concern since he has the debts of the alcoholics as collateral. At the bank's corporate headquarters, expert bankers transform these customer assets into DRINKBONDS, ALKBONDS and PUKEBONDS. These securities are then traded on markets worldwide. No one really understands what these abbreviations mean and how the securities are guaranteed. Nevertheless, as their prices continuously climb, the securities become top-selling items. One day, although the prices are still climbing, a risk manager (subsequently of course fired due his negativity) of the bank decides that slowly the time has come to demand payment of the debts incurred by the drinkers at Heidi's bar. However they cannot pay back the debts. Heidi cannot fulfill her loan obligations and claims bankruptcy. DRINKBOND and ALKBOND drop in price by 95%. PUKEBOND performs better, stabilizing in price after dropping by 80%. The suppliers of Heidi's bar, having granted her generous payment due dates and having invested in the securities are faced with a new situation. Her wine supplier claims bankruptcy, her beer supplier is taken over by a competitor. The bank is saved by the Government following dramatic round-the-clock consultations by leaders from the governing political parties. The funds required for this purpose are obtained by a tax levied on the non-drinkers. Finally an explanation I understand.

*LOL* that's good...I liked it...funny

I_LUV_RUSH wrote:

Looks like more cross posting to me.. More Wingnut B.S. Spplit personalities talking to each other. Try not talking to yourself. Who's on top?

not you

You wouldn't have a clue if it was imbedded in your colon by Ann or Rush.

Didn't take long to start with the personal attacks. Can't dispute the facts so resort lesser tactics. Sad but expected.

I'm transparent but also red, white, and blue??? Must be the same transparency as the "new" administration. Go crawl in my bunker?? Am I under another attack??

Plagiarism?

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Search ResultsThe financial crisis explained in simple termsMar 1, 2009 ... Heidi is the proprietor of a bar in Berlin . In order to increase sales, she decides to allow her loyal customers - most of whom are ...
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The Bank Bailout in Speakeasy Terms...| Ron Paul Wins!| Campaign ...Mar 6, 2009 ... Heidi is the proprietor of a bar in Berlin. In order to increase sales, she decides to allow Alan, John, Wilhelm, Raphael, Romulo, Humberto,...
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The financial crisis and bailout: The drunks at the bar ...Mar 5, 2009 ... Heidi is the proprietor of a bar in Berlin . In order to increase sales, she decides to allow her loyal customers, most of whom are ...
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Carol3 wrote:

Plagiarism?
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Web Results 1 - 10 of about 8,810 for proprietor of a bar. In order to increase sales, she decides to allow.(0.27 seconds)
Search ResultsThe financial crisis explained in simple termsMar 1, 2009 ... Heidi is the proprietor of a bar in Berlin . In order to increase sales, she decides to allow her loyal customers - most of whom are ...
www.usacarry.com/forums/off-topic/6952-financ... - 76k - Cached - Similar pages -
The Bank Bailout in Speakeasy Terms...| Ron Paul Wins!| Campaign ...Mar 6, 2009 ... Heidi is the proprietor of a bar in Berlin. In order to increase sales, she decides to allow Alan, John, Wilhelm, Raphael, Romulo, Humberto,...
www.dailypaul.com/node/85276 - 51k - Cached - Similar pages -
The financial crisis and bailout: The drunks at the bar ...Mar 5, 2009 ... Heidi is the proprietor of a bar in Berlin . In order to increase sales, she decides to allow her loyal customers, most of whom are ...
www.bloggingstocks.com/2009/03/05/the-financi... - 75k - Cached - Similar pages -

Are you saying that all your addresses are the orginal writers of this story ? Hmmmm?

Then what's your freaking problem -- maybe you ought to understand the meaning of plagerism first!

BTW DIM BULB -- HOW MANY OF YOUR POSTS DON'T CONTAIN A FOOTNOTE?? You do know what a footnote is , I suppose ---------->

libby smacker wrote:

Heidi is the proprietor of a bar. In order to increase sales, she decides to allow her loyal customers - most of whom are unemployed alcoholics - to drink now but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans). Word gets around and as a result increasing numbers of customers flood into Heidi's bar. Taking advantage of her customers' freedom from immediate payment constraints, Heidi increases her prices for wine and beer, the most-consumed beverages. Her sales volume increases massively. A young and dynamic customer service consultant at the local bank recognizes these customer debts as valuable future assets and increases Heidi's borrowing limit. He sees no reason for undue concern since he has the debts of the alcoholics as collateral. At the bank's corporate headquarters, expert bankers transform these customer assets into DRINKBONDS, ALKBONDS and PUKEBONDS. These securities are then traded on markets worldwide. No one really understands what these abbreviations mean and how the securities are guaranteed. Nevertheless, as their prices continuously climb, the securities become top-selling items. One day, although the prices are still climbing, a risk manager (subsequently of course fired due his negativity) of the bank decides that slowly the time has come to demand payment of the debts incurred by the drinkers at Heidi's bar. However they cannot pay back the debts. Heidi cannot fulfill her loan obligations and claims bankruptcy. DRINKBOND and ALKBOND drop in price by 95%. PUKEBOND performs better, stabilizing in price after dropping by 80%. The suppliers of Heidi's bar, having granted her generous payment due dates and having invested in the securities are faced with a new situation. Her wine supplier claims bankruptcy, her beer supplier is taken over by a competitor. The bank is saved by the Government following dramatic round-the-clock consultations by leaders from the governing political parties. The funds required for this purpose are obtained by a tax levied on the non-drinkers. Finally an explanation I understand.

And who was in charge of the Liquor Control Board when these abuses occured? Could it have been the leader of the party for de-regulation?

libby smacker wrote:

Finally an explanation I understand.

A simple explanation for a simple mind. Molotov and Goebbels understood the concept, so does Rush.

anonymous wrote:

<quoted text>A simple explanation for a simple mind. Molotov and Goebbels understood the concept, so does Rush.

Franklin Delano "Frank" Raines, Hedi's uncle, pressured all his employees to buy and bundle for sale more and more of these alko bonds (Risky Mortgages) because with more sales he made more bonus money!

Finally the bonus cops saw what was happening and had a talk with him but his brothers Barney and Chris tried to cover for poor Frank , in the end Frank had to resign and the government took over the outfit (GSE's), then the government restocked the bar with 400 billion of the taxpayers money, That we'll never see again!

Rains barely kept his freedom and even became the presidents economic advisor, so that explains the sad shape and lack of the plan for the credit crisis.......

We need more CRA loans to the risky ---- thanks Barney, Chris and Frank.....

libby smacker wrote:

Didn't take long to start with the personal attacks. Can't dispute the facts so resort lesser tactics. Sad but expected.

I agree...when the facts don't fit there agenda...they do what they do best...name calling...what can you expect from feeble minds

I look at companies like Tyco, WorldCom, Enron, Bear Sterns, Lehman Brothers,
AIG, and the SocGen trader that stole Billions, and what do I see?, I see always a greedy White male stealing hundreds of millions of dollars.
And they receive little to no Punishment.

Why are these Wall street thieves always White males, who feel that they have to not only, steal large sums of money, but they destroy millions of other
peoples s lives, by their actions in the destruction of these Billion dollar
corporations?.

I was always told as a child, "never put all your eggs in one basket".
Who, in their right mind, would put so much money into "Sub prime" Mortgages?!. This whole thing is bordering on gross incompetence by those greedy incompetent White Boys!

Homeowners didn't have to overdose on mortgage debt they couldn't afford. Mortgage lenders didn't have to push poisonous adjustable-rate loans at homeowners when they knew the individuals couldn't afford them.

Wall Street investment banks didn't have to ignore the poison, while bundling the mess into the esoteric bonds that eventually would set off a credit crunch. Investors who bought the bonds didn't have to be as naive as the homeowners when they indulged, without question, in a financial product they didn't understand. Bond rating firms, which are supposed to safeguard investors by probing into the construction of bonds, didn't have to swallow Wall Street's numbers and give the toxic stuff a stamp of approval.

And Congress and banking regulators didn't have to ignore consumer advocates, who have been testifying for years that abusive mortgage-lending practices eventually were going to cause millions to lose their American dream.

Eight years after arriving in Washington vowing to spread the dream of homeownership, Mr. Bush left office, as he himself said recently,“faced with the prospect of a global meltdown” with roots in the housing sector he so ardently championed.
He pushed hard to expand homeownership, especially among minorities, an initiative that dovetailed with his ambition to expand the Republican tent — and with the business interests of some of his biggest donors. But his housing policies and hands-off approach to regulation encouraged lax lending standards.
Mr. Bush did foresee the danger posed by Fannie Mae and Freddie Mac, the government-sponsored mortgage finance giants. The president spent years pushing a recalcitrant Congress to toughen regulation of the companies, but was unwilling to compromise when his former Treasury secretary wanted to cut a deal. And the regulator Mr. Bush chose to oversee them — an old prep school buddy — pronounced the companies sound even as they headed toward insolvency.
For much of the Bush presidency, the White House was preoccupied by terrorism and war; on the economic front, its pressing concerns were cutting taxes and privatizing Social Security. The housing market was a bright spot: ever-rising home values kept the economy humming, as owners drew down on their equity to buy consumer goods and pack their children off to college.
Today, millions of Americans are facing foreclosure, homeownership rates are virtually no higher than when Mr. Bush took office, Fannie and Freddie are in a government conservatorship, and the bailout cost to taxpayers could run in the trillions.
Mr. Bush had to, in his words,“use the mighty muscle of the federal government” to meet his goal. He proposed affordable housing tax incentives. He insisted that Fannie Mae and Freddie Mac meet ambitious new goals for low-income lending.
Mr. Bush persuaded Congress to spend up to $200 million a year to help first-time buyers with down payments and closing costs. And he pushed to allow first-time buyers to qualify for federally insured mortgages with no money down.
The president also leaned on mortgage brokers and lenders to devise their own innovations.“Corporate America,” he said,“has a responsibility to work to make America a compassionate place” and corporate America, eyeing a lucrative market, delivered in ways Mr. Bush might not have expected, with a proliferation of too-good-to-be-true teaser rates and interest-only loans that were sold to investors in a loosely regulated environment.
When states tried to use consumer protection laws to crack down on predatory lending, the comptroller of the currency blocked the effort, asserting that states had no authority over national banks.
The administration won that fight at the Supreme Court.
In the 2004 election cycle, mortgage bankers and brokers poured nearly $847,000 into Mr. Bush’s re-election campaign, more than triple their contributions in 2000, according to the nonpartisan Center for Responsive Politics. The administration did not finalize the new rules until last month.

Terrance wrote:

I look at companies like Tyco, WorldCom, Enron, Bear Sterns, Lehman Brothers,
AIG, and the SocGen trader that stole Billions, and what do I see?, I see always a greedy White male stealing hundreds of millions of dollars.
And they receive little to no Punishment.
Why are these Wall street thieves always White males, who feel that they have to not only, steal large sums of money, but they destroy millions of other
peoples s lives, by their actions in the destruction of these Billion dollar
corporations?.
I was always told as a child, "never put all your eggs in one basket".
Who, in their right mind, would put so much money into "Sub prime" Mortgages?!. This whole thing is bordering on gross incompetence by those greedy incompetent White Boys!

If you want to play the race card -- do your homework!
What color is franklin raines who cooked the books for his bonus.

Who only avoided jail time because of his democratic connections!

LiL John wrote:

<quoted text>
If you want to play the race card -- do your homework!
What color is franklin raines who cooked the books for his bonus.
Who only avoided jail time because of his democratic connections!

Fool; You know the black man took the fall for his white masters!

Terrance wrote:

<quoted text>
Fool; You know the black man took the fall for his white masters!

He was the ceo of fannie mae who was his master -- fool

Phil wrote:

Homeowners didn't have to overdose on mortgage debt they couldn't afford. Mortgage lenders didn't have to push poisonous adjustable-rate loans at homeowners when they knew the individuals couldn't afford them.
Wall Street investment banks didn't have to ignore the poison, while bundling the mess into the esoteric bonds that eventually would set off a credit crunch. Investors who bought the bonds didn't have to be as naive as the homeowners when they indulged, without question, in a financial product they didn't understand. Bond rating firms, which are supposed to safeguard investors by probing into the construction of bonds, didn't have to swallow Wall Street's numbers and give the toxic stuff a stamp of approval.
And Congress and banking regulators didn't have to ignore consumer advocates, who have been testifying for years that abusive mortgage-lending practices eventually were going to cause millions to lose their American dream.

The bottom line is the homeowner was responsible for taking out a mortgage he couldn't afford.
The blame lies with them the borrower...what ever happened to personal responsibility?
I don't put the blame on the banks in the sense they didn't force the mortgage upon the dumbassss homeowner...plain and simple.

When your job as loan manager is to push as many home loans out the door as you can, you think you're going to tell some shlameel he can't afford it? Right? It's like selling used cars. These guys cooked homebuyers buying power just to get the names on paper.