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36 Comments

1. 

   Rush Limbaugh

   Tuesday, November 13, 2007 - 12:08 pm · Reply

   Do I really sound that stupid? God, I’m so embarrassed.

2. 

   Where the hell is ShoeHorn

   Tuesday, November 13, 2007 - 12:11 pm · Reply

   and his happy fanboy slurs?

3. 

   ChrissyOne

   Tuesday, November 13, 2007 - 12:13 pm · Reply

   @ Open Your Eyes

   Keep up the good work!!! Conservatives like you are wonderful for the Democratic party. Please, post messages like this everywhere you go. Especially when there are churchy people around. Or smart people.

4. 

   I was wrong - THIS IS dumbest thing you'll read al

   Tuesday, November 13, 2007 - 12:17 pm · Reply

   “Control” is a little different from actual strong-arming, douchebag. The committees in question were all filled with old-school, “feel good, do nothing” liberal pantywaists. “Give money to these people over here who can’t afford it in reality”, WAAAHHHH! “I strongly suggest you increase your loan approval rates to middle-class Americans, Mr. Banker”, WHINNNNEEEE!!

5. 

   Shoe man

   Tuesday, November 13, 2007 - 12:47 pm · Reply

   I’ve owned more AAPL in my 50+ years than any of you 12-year-olds ever will.

6. 

   Ferf Muckmeyer

   Tuesday, November 13, 2007 - 1:09 pm · Reply

   Oh and @ Open Your Eyes,

   You are an ultra-conservative shithead no-brained douchebag. I consider myself privileged that I was just labeled a simple “douchebag”.

   Keep it up, and you will have to deal with Hillary in 2008. You really think the GOP has a chance? Are you HIGH? Or just a moron? Both, I think.

7. 

   Ferf Muckmeyer

   Tuesday, November 13, 2007 - 1:17 pm · Reply

   @ Stock Trader,

   You do have a point about this coming out after Greenspan exited the building. He was smart enough to get out at the right time. But at the end of the day this did happen under his watch, right?

   Look, the guy is a mastermind. But no one is infallible. And I certainly don’t blame him for all of this. Heck, the lenders are the real criminals here. They have lots of commissioned sales guys that will sell their first born for a measly commission. That alone just drove everything. Sell, sell sell and get rich on those commissions.

   Interesting and intelligent banter. I love it.

   @ Shoe Man,

   Even with the recent drops in Apple stock, I’d like to be in your shoes. Nice to see someone who believed in a company like Apple even with its peaks and valleys. I bow down to you. Oh, I am almost 50, but I do act like a 12 year old most of the time (at least that’s what my wife tells me, he he he).

8. 

   doc

   Tuesday, November 13, 2007 - 1:41 pm · Reply

   This economic activity is the result of FED action, which has no party loyality.

9. 

   Open Your Eyes

   Tuesday, November 13, 2007 - 4:02 pm · Reply

   Mind Wide Shut wrote: Please cite your sources. This is very interesting.

   Sure. Here you go — and this is just to get you started:

   “Nearly half of House Financial Services Committee members, including chairman Barney Frank, have received money from New Century Financial Corp., the subprime lender that recently collapsed. Democratic presidential candidates Hillary Clinton and Chris Dodd, head of the Senate Banking Committee, have been some of the largest beneficiaries of the mortgage banking industry, whose dollars have provided a strong incentive for Congress to sit tight and hope the subprime bubble wouldn’t burst.

   Mortgage bankers gave 40 percent of their $6.6 million in contributions to Democrats in 2006, before the party gained power, and eleven of the top twenty recipients were Democrats, including the top recipient, Clinton, who took in $108,100. Senator Dodd joined Barney Frank in a vague call for legislation but added that he is “a strong advocate of subprime lending.” New Century has given Dodd $15,000 since 2003, and Frank ranked ninth on the list of mortgage banking contributions, with $54,550 in 2006.

   Congress now has a decision to make: Should those thousands of dollars be in their pockets, or in those of the millions losing their homes?”

   Garrett Ordower, The Nation, “The Loan Shark Lobby”

   - – - – -

   “In other words, the House bill [Democrat Barney Frank's proposed legislation] would effectively give borrowers the ability to renegotiate the terms of their mortgage without penalty and without increasing the risk premium that they have to pay to get the loan.  Furthermore, it would require lenders to take extraordinary steps to verify each borrowers “ability to repay” — an amorphous concept to begin with and one that is hard to verify outside of relying upon the credit ratings and verifications of employment that every lender relies upon. Finally, the bill seems to extend liability for these actions to secondary holders of mortgage-backed securities; an idea which makes no sense whatsoever given that the secondary holders had no role in the original transaction.

   The ultimate impact of legislation like this is easy to see. Credit, whether or mortgages or any other types of loan, <b>will be harder to get for people at the fringes of the economy. Some people may argue that this isn’t a bad thing, that it was loans to people like this that created the subprime mess to begin with. And they have a point.

   But there’s where politics becomes involved. Today, the left complains because supposedly predatory lenders took advantage of people with bad credit by offering them the only loans they could qualify. Twenty years ago, they were complaining about redlining and alleging that lenders were discriminating against the poor and minorities by refusing to lend to them because they were bad credit risks.  If legislation like this passes and the credit markets dry up again, that’s exactly what we’ll be hearing ten yeasrs from now, if not sooner.”

   Doug Mataconis, The Liberty Papers, “How Not To Fix The Subprime Mortgage Crisis, Part II”

   Jerk Slutmaker wrote: You are an ultra-conservative shithead no-brained douchebag. I consider myself privileged that I was just labeled a simple “douchebag”.

   Thanks, fool. Now get back to ninth grade Special Ed. class.

10. 

    Mind Wide Shut

    Tuesday, November 13, 2007 - 6:04 pm · Reply

    @ The Liberty Papers

    Ah, Libertarian bloggers who love Ayn Rand. Just my kind of people.

11. 

    Gasser

    Tuesday, November 13, 2007 - 8:04 pm · Reply

    @OYE

    This is fun to read.

    Are you actually trying to argue that incumbent Republicans, as the majority party for over a decade, with majority control of every committee and chairmanship, were somehow thwarted in their valiant efforts to avoid this crisis? You just quoted an article stating Dems received 40% of New Century’s contributions. Who do you think received the other 60%? Must have been the Green Party.

    And the “Liberty Papers” article makes what point exactly? That conservatives are fighting for fair lending practices for minorities in opposition to the dangerous legislation sponsored by well-known minority haters like Barney Frank and the Congressional Black Caucus? Your concern is touching.

    The only persuasive argument you did (inadvertently) make was a strong case for public financing of elections.

12. 

    Open Your Eyes

    Tuesday, November 13, 2007 - 8:37 pm · Reply

    Gasser, stop acting like your foul-smelling name. I especially love this part:

    ” . . . Republicans, as the majority party for over a decade . . .”

    Don’t be a (gassy) tool. When the foundations for this debacle were laid, it was at the feet (when they and other parts weren’t getting sucked off by skanks under his desk) of the Clinton administration. As in, years ago. That’s sometimes how long liberal societal creep takes to come out in the wash (so to speak — another Lewinsky reference there).

    Mind Wide Shut, you demonstrate true close-mindedness in your perfunctory dismissal of liberty. Go vote for more big government Democratic societal-engineering liberalism in next year’s election. You deserve what you get . . . and your moniker suits you.

13. 

    mackle

    Wednesday, November 14, 2007 - 12:14 am · Reply

    dinner bell rang when i got home from work. put in a 153 extended market buy. why was i not worried about a further slide? apple is not like any equity out there. people, including analysts and institutional managers don’t understand its price behavior. apple’s strengths are:

    1) it is a global company and benefits from a weak dollar like proctor and gamble. it leverages its component costs by long term contracts and sells at a higher margin than competitors, so weak dollars are offset to some degree by enough margin to not sweat it. making insanely great products is not going to hurt them.

    2) cache/brand is premium. behaves like coach more than samsonite. hard economic times do not affect its core customers as the bottom price feeders.

    3) people actually want apple’s products and they are on a global upswing in marketshare in whatever market they chose to be in. they are in the process of innovating new markets while stealing marketshare in established markets-like google in search.

    4) apple’s secretive mood leaves the bears doubting the next product will be a hit and the bears equally sure it will be a home run. how about a sub-laptop, gonzo ipod touch, movie rentals/appletv/in an imac at moscone center.

    these all play together to make rapturous music. look for apple to beat estimates, beat competitors senseless and leave them clueless on what to do.

14. 

    @ Open Your Eyes

    Wednesday, November 14, 2007 - 12:36 am · Reply

    There are so many questions that my Anti-Randian heart would love to ask you, but it’s late at night, so let me ask you just two: Have you read Greenspan’s book yet?, and if you have, is there any correlation between your Libertarian theory of guilt and Greenspan’s Objectivist comparison/appraisal of the last two administrations?

15. 

    Ferf Muckmeyer

    Wednesday, November 14, 2007 - 2:13 am · Reply

    @ OYE,

    Hey, Dickhead, do you know anything about arithmetic? Gasser may have a smelly name but he can count, you fucking right-wing slob! Who gives a shit who got contributions – and where did the other 60% go?

    But the real question, which you and others in your dumbass camp always avoid, was who was running Congress when all of this happened? Hillary? Barney Frank? Chris Dodd? Oh yeah, that’s who was in charge, right? Wrong, moron. It was the moronic Republicans that morons like you voted into office that controlled Congress, remember?

    And I love when you quote “The Nation”, a fucking rag that my dog uses to shit on. Those clowns are brilliant – at being morons.

    I hate having to write shit like this on MDN, because this is a great Apple site. But it’s crap like this that really burns my ass. So I am forced to tell it like it is.

    Your President in 2008 will be Hillary. Face up to it.
    The GOP blew it for backing an asshole like Bush. Face up to that.
    There will be investigations into Bush and Cheney after their time is up. And there may be people going to prison as a result.

16. 

    Open Your Eyes

    Wednesday, November 14, 2007 - 3:22 pm · Reply

    @ Jerk Slutmaker;

    Newsflash, dipsh!t — the surge is working.

    You and your sycophantic, defeatist losers Pelosi, Reid and Hillary have no chance in 2008. No . . . friggin’ . . . chance.

    You’re as dumb as your mother said you were.

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