TU Cent Thoughts, 08/05/2007

[greybeta]

Adminisration
Hello, new friends! Goodbye, former friends.

LJ bans two users
Freedom of speech is not unlimited freedom of speech. People forget they've clicked "I Agree" on a ToS full of clauses that allows LJ to legally ban those users.

Republicans debate
Apparently, national security and abortion are the defining topics of the Republican party. Besides lambasting the Democrats, of course.

One final today, one final tomorrow
Then I'm done with summer classes! Wahoo!

Verse of the Day
"A wise man will hear and increase learning, and a man of understanding will attain wise counsel."
~Proverbs 1:5

Convos of the Day
D2: People don't believe me when I say I'm kind of lucky.
M: They've never played poker with you. They've never seen you win ten coin flips in a row. Without even looking at your cards.

Quote of the Day
"Life is like a game of cards. The hand that is dealt you is determinism; the way you play it is free will."
~Jawaharlal Nehru

Link of the Day
American Home Mortage files for bankruptcy
The housing bubble has burst, and this is yet more proof of it.

Sports Report
Bonds 755. Arod 500. Glavine 300. And yet, fantasy football is more important to more Americans than anything else sports-related!

Entertainment
I recently watched Ratatouille, Transformers, and The Simpsons Movie. I happened to like them all, so I recommend watching them sometime. The only one I would recommend watching seeing in the theaters is Transformers, the other two are high quality rentals.

Heat wave
It's hot.

Question
Would you rather be thought of as a nice or kind person?

Comments

[fub.livejournal.com]

I wonder what happens to the loans that homeowners have with American Home Mortgage. Are those considered assets, to be used to pay creditors? Will homeowners have to pay up in full right away, or will their loan simply evaporate, because the entity they had a contract with doesn't exist anymore?

Also, I'm not sure what 'nice' means in the context of people. Kind persons help others when they are in need, but what does a nice person do?

[kmg-365.livejournal.com]

An interesting question, and I'm surprised that the media hasn't covered that angle yet. I'm sure most consumers of the news are more interested in hearing about how this affects them than what percentage of their overall loan portfolio contained sub-prime loans.

The homeowners' loans will most likely be purchased by another financial institution (possibly at a discount), and the homeowner would send their check to a different bank.

Their loans would not evaporate. I'm not sure if the terms of their loans could change, since when an institution purchases a loan, they are purchasing the loan as issued under the terms of the contract.

[greybeta.livejournal.com]

The media probably hasn't covered it yet because it would be considered speculation to report on something that the court hasn't ruled on yet. They've only filed for Chapter 11 Bankruptcy, so they're probably waiting to see what the ruling will be.

[fub.livejournal.com]

because it would be considered speculation
And that has stopped the media since when...?

The article says something about a few other money lenders going under -- surely what has happened to the carcass can be reported on, since it is a similar case?

[greybeta.livejournal.com]

The article says something about a few other money lenders going under -- surely what has happened to the carcass can be reported on, since it is a similar case?
It says something about other money lenders going down, but they don't mention them by name. They talk about New Century Financial only because New Century Financial has already gone under. Technically, proper journalism requires you to wait until the carcass is proclaimed dead before you can report on it. Or at least that's what I learned from my time as an editor for my college newspaper.

[fub.livejournal.com]

The homeowners' loans will most likely be purchased by another financial institution (possibly at a discount), and the homeowner would send their check to a different bank.
Very plausible.

[greybeta.livejournal.com]

We won't know the fallout until we see what the court rules. In the meantime, I honestly have no clue what's going to happen.

Nice and kind mean what you want it to mean. I purposely left it that way! ^_^

[fub.livejournal.com]

Nice and kind mean what you want it to mean.
Then how is my answer of any interest to you, if you don't know what I want 'nice' and 'kind' to mean?

[greybeta.livejournal.com]

In that case, it would mean that I'm interested in what you want 'nice' and 'kind' to mean.

[fub.livejournal.com]

'Nice': Easy-going, getting things done without conflict, fun to talk to.
'Kind': Trying to help others, selfless.

In contrast to what most others choose, I would rather be thought of as 'nice'. Because it makes your life much easier.

[greybeta.livejournal.com]

Variety is the spice of life! ^_^

[0living-dreams0.livejournal.com]

I would rather be viewed as kind. When you're nice, people decide/think they can walk all over you. Kind means you still take care of yourself in the process.

[greybeta.livejournal.com]

Ditto.

[visgoth.livejournal.com]

I tend to think of "nice" as meaning "polite or non-confrontational" and "kind" as meaning "giving, generous, or helpful to those in need."

Based on those definitions, I'd rather be kind.

[greybeta.livejournal.com]

Ditto.

[besideserato.livejournal.com]

Someone I know was closing for an AHM package and in the middle of it, the broker called and was like, "cancel that, the lender we're using just went under." Can you imagine being those borrowers? I would headesk my head open. But the bubble burst long ago, when Ameriquest offices nationwide were put on lockdown as company henchmen oversaw people's clearances out of their respective branch offices. That was the end. These bubbles now are just the last of the oxygen from the industry's drowned cadaver.

[greybeta.livejournal.com]

It would seem to me that much frustration would be caused by this dreadful situation.