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Discussion Starter · #1 ·
Thank God the recession is over.....

According to the FED.

Click HERE

Notice how the article doesn't talk at all about bank loans, financing, etc...
However they do point out "Most of that growth should come from more spending from businesses". They don't want to touch that one with a 10' pole.
I was at a SBA loan seminar last week, and their "Premier" lender Well's Fargo was there speaking. The spokesman said "People are confused, banks are lending money" then he talked about the guidelines for getting a loan.

1. You have to have FICO score of 720 or higher to even be looked at
2. You must contribute 30% of the amount needed
3. You must provide collateral equal to the amount being borrowed

If you want to open a restaurant, forget about it. The only food service loans they are considering are franchises, and you have to already own 3 franchises and meet the above three criteria to even be looked at.


So the banks received a half trillion dollars in stimulus money to help finance small business, which they won't account for, they say they are lending money, but they have created a hurdle so high that only the rich who absolutely wouldn't even need to borrow the money can qualify.


You guys actually think the President of the United States of America is running the country, WRONG. Lobbyist in Washington are the puppet masters controlling all the laws, rules, and regulations through the Senate and Congress, and the 15+ crooked ass banks that control the FED are dictating our monetary policy.
 

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Banks are loaning money, They always have been but there takeing alot of collaterial and tons of docs docs that I have never seen before. they want to be sure.

SBA loans are for minorites and red necks in the south east, you dont want the consenquences if you do default even a month on a sba loan, besides there not all cracked up to what they are said to be. you dont need that type of credit score to get an SBA loan UNLESS your WHITE then it better be perfect, or you live in a poor dunk town in the southeast and can put a few crack heads to work.

down payments are back to stay, no more they will give anyone a loan with no down and it will usually run about 20 percent.

this is the reason we got in this mess in the first place, every idiot and there brother could get a loan for anything with just a signature. during the clinton years you could open a fully loaded machine shop with one PO from a customer that was over 1000 bucks, you could buy 500k in machinery and have no experiance and a fake PO, Ive seen it done many times and you would have NO downs. you know how many shops closed up over the last 7 years a ton of them, lots of them closed up because they were all fake docs and people scammed the banks.
I met a guy who bought over 750 k worth of machinery, rented a building on 1 job from crager wheels(when they were in the valley) crager dropped of 25k in castings, he went out bought a new house 2 new cars and came to his shop 3 times in 90 days never fired up a machine. he sold everything in his shop under the table and walk with hundreds of thousands of dollars.

What happend then was too many idiots started a bussiness, then there was too many machine shops, then there was cutthroat bull shit of taking a 60 dollar part and doing it for 10 bucks, kinda like we are seeing now.

In my opinion the banks are going back to the way they used to be, of coarse getting hand outs on the side by the feds.

basically its not a free ride like it was.

Delw



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Banks are loaning money, They always have been but there takeing alot of collaterial and tons of docs docs that I have never seen before. they want to be sure.

SBA loans are for minorites and red necks in the south east, you dont want the consenquences if you do default even a month on a sba loan, besides there not all cracked up to what they are said to be. you dont need that type of credit score to get an SBA loan UNLESS your WHITE then it better be perfect, or you live in a poor dunk town in the southeast and can put a few crack heads to work.

down payments are back to stay, no more they will give anyone a loan with no down and it will usually run about 20 percent.

this is the reason we got in this mess in the first place, every idiot and there brother could get a loan for anything with just a signature. during the clinton years you could open a fully loaded machine shop with one PO from a customer that was over 1000 bucks, you could buy 500k in machinery and have no experiance and a fake PO, Ive seen it done many times and you would have NO downs. you know how many shops closed up over the last 7 years a ton of them, lots of them closed up because they were all fake docs and people scammed the banks.
I met a guy who bought over 750 k worth of machinery, rented a building on 1 job from crager wheels(when they were in the valley) crager dropped of 25k in castings, he went out bought a new house 2 new cars and came to his shop 3 times in 90 days never fired up a machine. he sold everything in his shop under the table and walk with hundreds of thousands of dollars.

What happend then was too many idiots started a bussiness, then there was too many machine shops, then there was cutthroat bull shit of taking a 60 dollar part and doing it for 10 bucks, kinda like we are seeing now.

In my opinion the banks are going back to the way they used to be, of coarse getting hand outs on the side by the feds.

basically its not a free ride like it was.

Delw

I Agree 100 percent.
 

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Bahhh Bahhhh.

The Fed are a bunch of evil bastards. Not only are they reeming Americans, they are reeming the world also. Good guys.

The banks never needed the Tarp Money. That was all for show and shits and giggles. The fed's discount window gave banks unlimited access to cash. They never needed to get the tax payer on the hook. The banks can get unlimited cash at 0 to .25 percent loaned to them from the fed. Money don't get cheaper than that. The Fed Funds Rate at 0 to .25 is ridiculous. This is going to lead to huge problems in the future. The fed can buy any asset it wants. Right now the fed is doing all types of crooked shit. Like buying mortgage backed securities for pennies on the dollar. They can print the money out of thin air so why not.
And the banks did some crooked shit also. They made loans knowing damn well it would be a mistake. What the hell did the banks care. They took loans and sold them on the stock market. The banks made loans. Sold them and washed their hands of the mess by securitizing mortgages and selling them as mortgage backed securities on the market. This is what happens when you allow a private bank to control monetary policy. Now the world wants these dumbasses to control the world's economic policy.

BAHHHHH BAHHHHHH
 

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Discussion Starter · #5 ·
angler2020,

Thank you for supporting what I have been saying for a while now.

Even though I have already been saying it, and you just followed with your statements, that doesn't make you a sheeple, hahahaha!
 

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angler2020,

Thank you for supporting what I have been saying for a while now.

Even though I have already been saying it, and you just followed with your statements, that doesn't make you a sheeple, hahahaha!
Have you ever read the book "The Creature from Jekyll Island".
 

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Discussion Starter · #8 ·
Dude there is no bait to be taken, I am a little smarter than that.


Angler,
I just briefed it at amazon, seems interesting, but is it a good read, or is it biased fairytale.
 

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The whole system is filled with greed but in the end people took out loans they never should have. Just because they could get a loan doesnt mean they should have.
If the bank now expects to see a good credit score and a proven means to repay the loan I dont see anything wrong with that...It should have been that way all along.
 

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The whole system is filled with greed but in the end people took out loans they never should have. Just because they could get a loan doesnt mean they should have.
If the bank now expects to see a good credit score and a proven means to repay the loan I dont see anything wrong with that...It should have been that way all along.
+1

The constant refies of houses proved that more over and that was recent,
it was all fake money now look were thet got us.



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If you don't trust the Feds - there is a solution, don't vote for them.
 

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If you don't trust the Feds - there is a solution, don't vote for them.
I think the Feds you're referring to and the Fed (the heart of our financial system) are entirely different. We can't vote for The Fed.

I am just starting to learn a little about how The Fed works and I have to admint, what I'm learning does not give me a good feeling!

Here's a video to watch. Hopefully this hasn't already been posted, but it gives insight into how little say we have about what The Fed does.

http://dailybail.com/home/there-are-no-words-to-describe-the-following-part-ii.html
 

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Discussion Starter · #14 ·
"I am just starting to learn a little about how The Fed works and I have to admint, what I'm learning does not give me a good feeling!"

Not giving you a good feeling? You're to nice!

When I think about the FED and how this whole thing is going down, it makes me flat out sick to my fuking stomach.
 

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"I am just starting to learn a little about how The Fed works and I have to admint, what I'm learning does not give me a good feeling!"

Not giving you a good feeling? You're to nice!

When I think about the FED and how this whole thing is going down, it makes me flat out sick to my fuking stomach.
When I feel I have a grasp of the who/what/where/when/why I'll be able to formulate an opionion....I'm being reserved out of ignorance and perhaps hope that it's not as bad as it seems. If what I'm learning is true, we are all F&@Ked.
 

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Discussion Starter · #16 ·
I think it has always been this way, it is just getting worse, and the banks are getting more greedy.

You've heard the saying, "Power Corrupts, Ultimate Power Corrupts Ultimately"
Well that's the banks that control the Federal Reserve, they think they are untouchable, and that the American people are to stupid to do anything about it.
 

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Watch this series.....very interesting. According to this it started to sour when Nixon took us completely off the gold standard and really started to turn during Reagan's 2nd term. As my friend says, our financial system appears to be the biggest ponzi scheme of all time!

The "Fuzzy Numbers" is especially interesting, but I'm not finished yet, myself.

http://www.chrismartenson.com/crashcourse
 
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