Comments for Martin Sumichrast | The Sumichrast Report

Comment on It’s The Monthly Payment Stupid, Part II by Same boat as Jeff

Same boat as Jeff — Thu, 18 Jun 2009 19:01:06 +0000

I can totally relate to Jeff-my family is in the same situation. We are not behind YET but are trying to be proactive and do a loan mod since our incomes are about to change. But what the bank offered was like a slap in the face. We feel trapped into stopping our payment and ruining our credit just to get the bank to work with us. I’ll be watching for future updates. Good luck Jeff!

Comment on The Cram Down: Citigroup’s Deal on Home Loans Signal Start of New Process by home loan

home loan — Fri, 30 Jan 2009 14:55:19 +0000

Lovely. Great site.

Comment on TARP: Banks Shouldn’t be Forced to Make Risky Loans by gary summers

gary summers — Thu, 29 Jan 2009 21:57:27 +0000

No one is asking banks to make risky loans. But banks are taking in billions and not lending AT all. Even to viable business. That is the problem. IF banks wont lend, then they shouldnt recieve TARP money and then be forced to desolve like any other business.

Comment on Move Over Nostradamus by David C. Heinrich

David C. Heinrich — Thu, 22 Jan 2009 03:49:23 +0000

An excellent article – meaning I agree w/ most of it! I disagree w/ your solution for education; I think the government needs to lead the country in setting high standards & finding “world class solutions”. I do not trust many states to be particularly enthusiastic nor vigilant in getting the job done in that regard.
With regard to nuclear generation of energy, nuclear fission is NOT safe & it also generates tremendous problems w/ all the waste it produces. If we had any “brains”, we would be working furiously on nuclear fusion technology as that is a real solution to almost all of our energy needs & produces no harmful waste for the next 30 generations to deal with(!!!!!). And it uses “extra heavy water” for its fuel (found in sea water).
Yes, we should drill for oil in the USA – but we need to realize that this will not take the pressure off the supply issue for at least 7 or 8 years!
As for the recession, the pessimists happen to be right; and it may take even longer than that. The reason is that there are many more adjustable loans coming due in 2009 & 2010!!!
The Obama administration’s new standard of transparency (the Sunshine effect) will make government function much better. A similar notion would greatly assist in making Wall St. work more fairly. The best thing for us all would be if the S.E.C. would actually function as IT IS SUPPOSED TO DO. If that were to come to pass, not only would the Madoff scandal been stopped a decade ago, but it is possible the whole subprime lending crisis would not have happened! Meaning that the sellers of CDO’s, etc. would have had to properly disclose the actual risks they were selling & the rating agencies/companies would have had to maintain their independance, as opposed to being paid on commission when the sale went thru! We will never get away from these kinds of thieves until we make the punishment the same for the rich folks on Wall St. as for the poor folks who turn to petty crime. And make the punishment swift & sure!
As for the sentiment in the last paragraph, I am fairly certain your wishes will come true; so far President Obama is hitting on all eight cylinders & has yet to make a significant mis-step! And when he does, as he surely will, he will be very quick to rectify the issue!
Many thanks for the good work! Keep it going!
Dave

Comment on The Ugly Duckling Turns Into A Swan – Wall Street Searches for New Revenue Streams by johnny

johnny — Mon, 29 Dec 2008 21:37:38 +0000

Mr2KKe Thanks for good post

Comment on The Ugly Duckling Turns Into A Swan – Wall Street Searches for New Revenue Streams by Mike Bulger

Mike Bulger — Wed, 17 Dec 2008 19:27:42 +0000

I think we need fewer lawyers and more beer!!!!

Comment on The Ugly Duckling Turns Into A Swan – Wall Street Searches for New Revenue Streams by Astockwiz

Astockwiz — Wed, 17 Dec 2008 06:25:31 +0000

excellent and the personal insight is always valuable it isn’t just someone writing about something that they have never done. keep up the good work!

Comment on The Ugly Duckling Turns Into A Swan – Wall Street Searches for New Revenue Streams by Joe

Joe — Thu, 11 Dec 2008 05:35:51 +0000

Great job!

Comment on Change Begins With Personal Responsibility by Mike Bulger

Mike Bulger — Fri, 14 Nov 2008 19:06:05 +0000

My Brother in Law agrees. Anyone have any Bud?

Comment on Change Begins With Personal Responsibility by Larry Anderson

Larry Anderson — Fri, 14 Nov 2008 19:05:10 +0000

I personally think the Republicans did it and we need lawyers to sue people to figure this out.