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Posted
For a man who has spent years railing away on govt intereference in the free economy, your defense of Harpers $25 billion market intrusion is laughable.

Funny how quickly a leopard can change its spots.

Harper differed with his party on some key policy issues; in 1995, for example, he was one of only two Reform MPs to vote in favour of federal legislation requiring owners to register their guns.

http://www.mapleleafweb.com/election/bio/harper.html

"You've got to remember that west of Winnipeg the ridings the Liberals hold are dominated by people who are either recent Asian immigrants or recent migrants from eastern Canada: people who live in ghettoes and who are not integrated into western Canadian society." (Stephen Harper, Report Newsmagazine, January 22, 2001)

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Posted
SO when the homeowners are out of work and can't pay..... :rolleyes: ....Mortgages are insured.... :rolleyes: Yadda yadda yadda

Bottom line is if everything was/is ok as Harper has been saying, NOTHING would have needed to be done!

That's what your not getting. Nothing did need to be done. This move is simply to ensure that Canadians are well protected from the downturn in the rest of the world. We would have been fine without it, but we'll be better with it.

Posted
You're not getting it, CMHC already insures those mortgages, so there is no change in risk, the CMHC insured mortgages were always publicly held risk, instead of underwriting the mortgage CMHC will now own the mortgage. One of the reasons our banking system is more secure than other countries is because high leverage mortgages in Canada are 99% insured by CMHC and the thresholds for qualifying are much higher than other banks. I also understand that it was not a cash transaction, the mortgages were exchanged for Canadian government bonds, which in todays environment are significantly more liquid than mortgages for the banks.

I heard today one of the other reasons our banks are in less of a crisis, US banks were leveraging their mortgage assets 40 to 1, in Canada regulations prevent the banks from going over 10 or 12.

What he said ^^^

Posted
What he said ^^^

Oh I totally get it. When home owners default, and trash the house, we the tax payers, are now responsible for the clean up, up keep, property taxes, and any other expenses the proprety might incur, before it can be resold. Then we are still going to be responsible for the next mortgage through the CMHC.

That's what your not getting. Nothing did need to be done. This move is simply to ensure that Canadians are well protected from the downturn in the rest of the world. We would have been fine without it, but we'll be better with it.

Now wait a minute! Didn't someone on here just say the banks needed cash money? They needed to keep their liquidity?

Bryan post 61 -

Banks all over the world, including ours, routinely buy and sell assets including mortgages. Mortgages that accrue interest pay dividends just like bonds do, so they are easily traded.

Problem is, these international banks don't have the liquidity to buy these assets, so as much as the banks here are not in any danger of losing what they have, they are hamstrung in their ability to use that asset trading to provide new capital for new loans. That very much can pose a problem for the public in the future if it continues, because people won't be able to get new mortgages, and businesses won't be able to get new loans. Allowed to happen, those things could very easily cause serious damage to our economy, job losses and the like.

So, what CMHC has done, is buy some of these assets. Good assets that are paying interest, and will make a profit for the government. Assets that are ALREADY insured by CMHC, meaning the risk to the taxpayer is the same either way. This gives the banks cash on hand to lend out without giving them any free money, or causing any strain on their ability to operate.

Sounds like something had to be done to me.

So why were we being fed a line of "everythings ok"? It obviously wasn't ok if the banks needed cash.

Harper differed with his party on some key policy issues; in 1995, for example, he was one of only two Reform MPs to vote in favour of federal legislation requiring owners to register their guns.

http://www.mapleleafweb.com/election/bio/harper.html

"You've got to remember that west of Winnipeg the ridings the Liberals hold are dominated by people who are either recent Asian immigrants or recent migrants from eastern Canada: people who live in ghettoes and who are not integrated into western Canadian society." (Stephen Harper, Report Newsmagazine, January 22, 2001)

Posted
It occurs to me that everyone else is talking about nuclear physics and you're stuck on algebra. Sorry bud.

Doubtful. If you ever lose those Conservative-blue glasses you might see it.

Harper differed with his party on some key policy issues; in 1995, for example, he was one of only two Reform MPs to vote in favour of federal legislation requiring owners to register their guns.

http://www.mapleleafweb.com/election/bio/harper.html

"You've got to remember that west of Winnipeg the ridings the Liberals hold are dominated by people who are either recent Asian immigrants or recent migrants from eastern Canada: people who live in ghettoes and who are not integrated into western Canadian society." (Stephen Harper, Report Newsmagazine, January 22, 2001)

Posted
Oh I totally get it. When home owners default, and trash the house, we the tax payers, are now responsible for the clean up, up keep, property taxes, and any other expenses the proprety might incur, before it can be resold. Then we are still going to be responsible for the next mortgage through the CMHC.

Umm, you already are. Do you even know why CMHC exists in the first place?

Posted
Umm, you already are. Do you even know why CMHC exists in the first place?

See you don't get it.

I know we are already responsible for the mortgage. But now we are responsible for $25 billion in property that if defaulted on has to be cleaned and maintained and have it's local taxes taken care of. Plus we are responsible for paying back however much of this $25 billion Harpers little scheme doesn't cover.

Also we are investing in realestate while it is at an all-time high in Canada, and we are on the brink of a recession.

The main point is that Harper had to give the banks money, after spending weeks telling us "everything is ok". The banks needed cash on hand. So not quite everything was ok was it?

Harper differed with his party on some key policy issues; in 1995, for example, he was one of only two Reform MPs to vote in favour of federal legislation requiring owners to register their guns.

http://www.mapleleafweb.com/election/bio/harper.html

"You've got to remember that west of Winnipeg the ridings the Liberals hold are dominated by people who are either recent Asian immigrants or recent migrants from eastern Canada: people who live in ghettoes and who are not integrated into western Canadian society." (Stephen Harper, Report Newsmagazine, January 22, 2001)

Posted
Doubtful. If you ever lose those Conservative-blue glasses you might see it.

Facts are facts, this really isn't a partisan issue. Yes we do get more direct investment in real estate, which when things turn around should be pretty easy to unload. It is no cash out of pocket since I understand it was exchanged for bonds, nor do we know if a discount rate was applied. As you should know real estate has been probably the very best investment in Canada over the past century so really its not much of a risk.

Posted
Yeah, being endorsed by somebody who exploits other peoples' misery and financial devestation is really great. That guy embodies all that is wrong with the modern economy.

You really don't know much but it certainly doesn't stop you from proiving it.....

Now see if you can fail at another attemp to back up your blatherskite and show where Buffet has exploited peoples misery.

RIGHT of SOME, LEFT of OTHERS

If it is a choice between them and us, I choose us

Posted
What relevance does that have? The guy's a sick, greedy bastard...

Which explains why he has given 37 billion of his 44 Billion fortune to charity....because he's greedy and sick...

RIGHT of SOME, LEFT of OTHERS

If it is a choice between them and us, I choose us

Posted
Or a good time to sell...while equities still have half their value left.

Ummmm...no. There is never a good reason to sell without need in a bear market. Smart money holds and buys....

100 shares bought at $100 = $10000

100 shares lose 50% = $5000

100 shares bought at $50 = $5000

200 shares at $50 = $10000

RIGHT of SOME, LEFT of OTHERS

If it is a choice between them and us, I choose us

Posted
You really don't know much but it certainly doesn't stop you from proiving it.....

Now see if you can fail at another attemp to back up your blatherskite and show where Buffet has exploited peoples misery.

Buffet is a brilliant investor who made a lot of money by meeting needs in the market place.

http://www.usatoday.com/money/economy/2004...ett-kerry_x.htm

He publically complained about George Bushes tax cuts as favoring the rich.

Posted
http://www.ctv.ca/servlet/ArticleNews/stor...?hub=TopStories

How about Harpers finance minister? He is starting to do just what Dion and Layton were telling Harper to do.

It sounds like Harper's finance minister is calling Harper a lier.

Which is what?

The finance minister said Ottawa is ready to act to protect the stability of the Canadian financial system but it won't include any sort of bailout package for Canadian banks, which he said are not susceptible to the meltdown that happened in the U.S.

"Our banks are solvent, our insurance companies are solvent, we regulate them, we have one of the highest capitalization requirements in the world . . . all of that is solid," he said.

RIGHT of SOME, LEFT of OTHERS

If it is a choice between them and us, I choose us

Posted
OH really?

So you believe the spin?

Taking on $25 billion in bad debt seems like a bailout to me. Call it an asset swap or call it a tuna casserole, it all amounts to a huge flip flop on the part of the CPC and Harper in particular.

http://news.sympatico.msn.ca/election_08/c...mp;pagenumber=2

Except it wasn't bad debt.

RIGHT of SOME, LEFT of OTHERS

If it is a choice between them and us, I choose us

Posted
Attack the poster when you have nothing of substance.

The brainwashing is going well young Harperite.

Sorry, you have nothing of substance and you don't know what you are talking about. The move by flahert inject liquidity into the market and is a good investment because THE DEBTS ARE GOOD....

RIGHT of SOME, LEFT of OTHERS

If it is a choice between them and us, I choose us

Posted
Where did that 25 billion come from? It didn't seem to be laying around anywhere visible to me. I will suggest that the government BORROWED the money, and that the tax payer is supposed to pay it back.

You could be right, in fact I believe you are......Flaherty did mention that the return on investrment is greater than the cost of borrowing.

RIGHT of SOME, LEFT of OTHERS

If it is a choice between them and us, I choose us

Posted

I can understand attacks on Harper but Warren Buffett?

Warren Buffet is a lifelong Democrat who has donated billions to charity and plans to continue to do so rather than leave a huge inheritance to his children, still lives in the modest home that he purchased in 1958 and complains about the fact that under George Bush, he pays proportionately less taxes than his receptionist:

http://www.washingtonpost.com/wp-dyn/conte...7062700097.html

Earlier this month when Buffett announced that he'd bought shares of General Electric, so did I in response. Following Buffett's investment strategies is a safe investment strategy.

And while I have no use for a social conservative like Harper, Harper's suggestion of a buying opportunity was probably correct. It may have been politically incorrect to say so but that's another matter.

Posted

I still cannot believe that in todays world and after so much history has gone by that there are people here that continue to think that people like Warren Buffet is evil. So he is a Capitalistic investor. He makes money therefore he is bad. Businesses are designed to make money that is why they are called businesses not COMMUNS!

If you truly believe Warren Buffet is evil and so is everything about our Canadian government why do you not move to the great Communist state CHINA. You will see there how wonderful everything not capatalistic is and how well that is working out for them.

Communism has never worked, never will because man's evil ambitions get in the way.

A government that helps business to do well is the best thing for a country, time and time again it has proven itself out in history. Nothing else has worked so well.

That is Harper's government! The Liberals, Greens, and NDP want to do something semi-communist and control everything from government and well I can guarantee if anyone of them get in the human evil mindset will takeover and we will be in completely unhappy with the results.

BUT do not worry, all the Liberal supporters will have completely forgotten all the crap thier leader will have put us through by the next election and vote for them again.

The Greens will say we are better off living in the Stone Ages and we do not need the rest of the world's investment in our country we can survive in our on little perfect bubble.

The NDP will like thier leader not know ho things have gotten this bad, ignore all the warnings and trudge farther into debt and lean on the great wisdom of the greens to know hat to do going into the next election.

I choose to vote for Harper, he is not perfect, his government is not perfect but I know they are the best government Canada can have for these economic times we are in.

This election is not about the enviroment it is about the viable ECONOMY of this country and Harper is the only one with a stable, positive plan in that area.

Posted
I can understand attacks on Harper but Warren Buffett?

Warren Buffet is a lifelong Democrat who has donated billions to charity and plans to continue to do so rather than leave a huge inheritance to his children, still lives in the modest home that he purchased in 1958 and complains about the fact that under George Bush, he pays proportionately less taxes than his receptionist:

http://www.washingtonpost.com/wp-dyn/conte...7062700097.html

Earlier this month when Buffett announced that he'd bought shares of General Electric, so did I in response. Following Buffett's investment strategies is a safe investment strategy.

And while I have no use for a social conservative like Harper, Harper's suggestion of a buying opportunity was probably correct. It may have been politically incorrect to say so but that's another matter.

Harper is a social conservative?

Posted
I still cannot believe that in todays world and after so much history has gone by that there are people here that continue to think that people like Warren Buffet is evil. So he is a Capitalistic investor. He makes money therefore he is bad. Businesses are designed to make money that is why they are called businesses not COMMUNS!

If you truly believe Warren Buffet is evil and so is everything about our Canadian government why do you not move to the great Communist state CHINA. You will see there how wonderful everything not capatalistic is and how well that is working out for them.

Communism has never worked, never will because man's evil ambitions get in the way.

A government that helps business to do well is the best thing for a country, time and time again it has proven itself out in history. Nothing else has worked so well.

That is Harper's government! The Liberals, Greens, and NDP want to do something semi-communist and control everything from government and well I can guarantee if anyone of them get in the human evil mindset will takeover and we will be in completely unhappy with the results.

BUT do not worry, all the Liberal supporters will have completely forgotten all the crap thier leader will have put us through by the next election and vote for them again.

The Greens will say we are better off living in the Stone Ages and we do not need the rest of the world's investment in our country we can survive in our on little perfect bubble.

The NDP will like thier leader not know ho things have gotten this bad, ignore all the warnings and trudge farther into debt and lean on the great wisdom of the greens to know hat to do going into the next election.

I choose to vote for Harper, he is not perfect, his government is not perfect but I know they are the best government Canada can have for these economic times we are in.

This election is not about the enviroment it is about the viable ECONOMY of this country and Harper is the only one with a stable, positive plan in that area.

Buffet is a brilliant investor who made a lot of money by meeting needs in the market place.

http://www.usatoday.com/money/economy/2004...ett-kerry_x.htm

He publically complained about George Bushes tax cuts as favoring the rich.

Posted
Seems like everyone but Harper supporters are aware of this.

Oh, right, I forgot, Harper = Bush. How could I not see this? I mean, their ideologies are so, well, completely on different sides of the political spectrum.

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