Someone doesn't like Obama - Off-Topic | futures io social day trading
futures io futures trading


Someone doesn't like Obama
Updated: Views / Replies:10,377 / 110
Created: by Gary Attachments:1

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 1  
 
Thread Tools Search this Thread
 

Someone doesn't like Obama

  #71 (permalink)
Elite Member
Chicago Burbs
 
Futures Experience: Master
Platform: NT, TS
Favorite Futures: TF, 6E, SI, CL, FDAX, ZN, ES
 
er2wizard's Avatar
 
Posts: 115 since Nov 2010
Thanks: 119 given, 306 received


nirajkrishna View Post
Sorry for the long post everyone, but there is something that annoys me when people gripe about taxes when they are most likely the lowest they have ever been in their life.


With one simple sentence you totally eradicated any credibility you have gained thus far...........

“The more I am around people, the more I love my dogs.” ~Author Unknown

Last edited by er2wizard; May 21st, 2011 at 07:47 PM.
Reply With Quote
 
  #72 (permalink)
Elite Member
Paradise, USA
 
Futures Experience: Beginner
Platform: Big Charts
Favorite Futures: E-mini, Forex, Futures, Equities, Options
 
rtrade's Avatar
 
Posts: 502 since Nov 2010
Thanks: 578 given, 375 received

When Barry told Benjamin to go back to the 1967 Borders, Bibi agreed with the U.S. Farmer and said THIS...


"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."

Last edited by rtrade; May 22nd, 2011 at 01:51 PM.
Reply With Quote
 
  #73 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,237 received



Tarkus11 View Post
In 2005, the FBI reported detection of rampant mortgage fraud. The Federal Reserve and the Justice Dept did....nothing.

The question, of course, is "why not?"

We all know the answer. Corruption. "Friends". Influence.

The better question is, how long will the American people continue to allow this blatant corruption to occur? I would say just elect better people, but the fact is that is a near impossible task now - with all the corporate money behind the "hand picked" guys they want to win, it's impossible to find a genuinely honest, loyal and non-corrupt politician and then succeed at getting him elected.

So then the better task falls on education. Educating the American people about what is truly happening with their country. Most know "it's bad", but then they choose to watch American Idol instead of learning more about it. Until that changes, and the front page of all major news outlets are covering corruption instead of The Royal Wedding, things will continue as they are.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 5 users say Thank You to Big Mike for this post:
 
  #74 (permalink)
Elite Member
East Coast
 
Futures Experience: Beginner
Platform: Ninja
Favorite Futures: ES, NQ
 
Posts: 125 since Apr 2010
Thanks: 55 given, 81 received


Big Mike View Post
We all know the answer. Corruption. "Friends". Influence.

The better question is, how long will the American people continue to allow this blatant corruption to occur? I would say just elect better people, but the fact is that is a near impossible task now - with all the corporate money behind the "hand picked" guys they want to win, it's impossible to find a genuinely honest, loyal and non-corrupt politician and then succeed at getting him elected.

So then the better task falls on education. Educating the American people about what is truly happening with their country. Most know "it's bad", but then they choose to watch American Idol instead of learning more about it. Until that changes, and the front page of all major news outlets are covering corruption instead of The Royal Wedding, things will continue as they are.

Mike


Agree. Although the Supreme Court ruled that Corporations have the same rights as people, I don't recall that ideology being stated in the Constitution anywhere. Must have been some "activist" judges...

As far as edumacation...the use of the media for that purpose was lost once they figured people could be slipped stories about Britney Spears or Charlie Sheen as substitutions for investigative journalism.

Reply With Quote
 
  #75 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received


Tarkus11 View Post
If banks had been required to hold onto the loans "the old-fashioned way", the securitization orgy is unlikely to have occurred. The put-back of the bad loans lasted only 6 to 12 months, not the 30 year life of a mortgage.

In 2005, the FBI reported detection of rampant mortgage fraud. The Federal Reserve and the Justice Dept did....nothing.

The question, of course, is "why not?"


Actually, the FBI website lists the significant cases for Mortgage fraud for 2005 that they investigated, issued arrest warrants and the convictions and, penalties and fines. Those cases were not related to the recent melt down.

The FBI also state on their website that a large percentage of mortgage fraud is due to banks and mortgage companies depending on third party mortgage originators (mortgage brokers) to process mortgage applications for the financial institutions.

Who do you want to blame?

1. The mortgage brokers who falsified applications to get them approved so they could get paid?

2. The retail bank who ; didn't audit the applications the mortgage broker sent them, sold the loans to Wall Street to remove the liability from their balance sheet so, that they could meet the Federal reserve requirements and have additional money to make new loans with?

3. The Federal Government that for years threatened to prosecute banks for discrimination for not loaning to "red lined" areas and offered to guarantee the loans to entice the banks to voluntarily comply.

4. The Wall Street firms who created mortgage backed securities which for decades had been safe investment instruments ,and carried a bond rating from S&P or Moody's.

5. The Bond rating companies that gave the bonds high ratings not knowing that these new bonds contained a very different assortment of mortgages that would later turn toxic?

6. The Bond Department managers at international banks and pension funds who bought the bonds not knowing what was in them?


They all bear a responsibility for what happened. The problem is figuring what was stupidity and what was actually a crime.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
 
  #76 (permalink)
Membership Revoked
Oslo, Norway
 
Futures Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,235 received


Big Mike View Post
We all know the answer. Corruption. "Friends". Influence.

The better question is, how long will the American people continue to allow this blatant corruption to occur? I would say just elect better people, but the fact is that is a near impossible task now - with all the corporate money behind the "hand picked" guys they want to win, it's impossible to find a genuinely honest, loyal and non-corrupt politician and then succeed at getting him elected.

So then the better task falls on education. Educating the American people about what is truly happening with their country. Most know "it's bad", but then they choose to watch American Idol instead of learning more about it. Until that changes, and the front page of all major news outlets are covering corruption instead of The Royal Wedding, things will continue as they are.

Mike


Reply With Quote
The following 3 users say Thank You to Lornz for this post:
 
  #77 (permalink)
Elite Member
McKinney, TX
 
Futures Experience: Intermediate
Platform: Ninjatrader, ThinkorSwim
Broker/Data: IB
Favorite Futures: Equities
 
Posts: 58 since Nov 2009
Thanks: 5 given, 88 received


er2wizard View Post
With one simple sentence you totally eradicated any credibility you have gained thus far...........

Well help me out then. When have your taxes been lower. Like I said I have only been alive since 1977 and working a "career" type job for a little over 7 years. I know mine personally are at the lowest or so close I cant tell if they arent. When was your's the lowest? If you dont mind sharing.

Reply With Quote
 
  #78 (permalink)
Elite Member
East Coast
 
Futures Experience: Beginner
Platform: Ninja
Favorite Futures: ES, NQ
 
Posts: 125 since Apr 2010
Thanks: 55 given, 81 received


ThatManFromTexas View Post
Actually, the FBI website lists the significant cases for Mortgage fraud for 2005 that they investigated, issued arrest warrants and the convictions and, penalties and fines. Those cases were not related to the recent melt down.

The FBI also state on their website that a large percentage of mortgage fraud is due to banks and mortgage companies depending on third party mortgage originators (mortgage brokers) to process mortgage applications for the financial institutions.

Who do you want to blame?

1. The mortgage brokers who falsified applications to get them approved so they could get paid?

2. The retail bank who ; didn't audit the applications the mortgage broker sent them, sold the loans to Wall Street to remove the liability from their balance sheet so, that they could meet the Federal reserve requirements and have additional money to make new loans with?

3. The Federal Government that for years threatened to prosecute banks for discrimination for not loaning to "red lined" areas and offered to guarantee the loans to entice the banks to voluntarily comply.

4. The Wall Street firms who created mortgage backed securities which for decades had been safe investment instruments ,and carried a bond rating from S&P or Moody's.

5. The Bond rating companies that gave the bonds high ratings not knowing that these new bonds contained a very different assortment of mortgages that would later turn toxic?

6. The Bond Department managers at international banks and pension funds who bought the bonds not knowing what was in them?


They all bear a responsibility for what happened. The problem is figuring what was stupidity and what was actually a crime.


Yes - there is much (still) amiss about what transpired. But

CNN.com - FBI warns of mortgage fraud 'epidemic' - Sep 17, 2004

Rampant fraud in the mortgage industry has increased so sharply that the FBI warned Friday of an "epidemic" of financial crimes which, if not curtailed, could become "the next S&L crisis."


That article was posted Friday, September 17, 2004 - fully 4 years before the infamous TARP was passed.

Again, I go back to "follow the money". The source of "profits" for people in the chain has to trickle down from someone. If the crack dealer on the street is making a nice profit, that means that someone up the chain is living the high-life in (several) mansions.

The corruption doesn't start with some low-level guy saying "There's no money in doing this, but WTF, I'll do it at a loss."

However, irrespective of the chain of who did what to whom - once the FBI reported it had detected an "epidemic of mortgage fraud" - that is SUPPOSED to spawn an independent fork in the event chain that initiates an analysis and criminal investigations.

That the process of criminal investigation was cut-off (by whom?) is, at the least, disturbing.


Last edited by Tarkus11; May 22nd, 2011 at 10:17 AM.
Reply With Quote
 
  #79 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received


Tarkus11 View Post
Yes - there is much (still) amiss about what transpired. But

CNN.com - FBI warns of mortgage fraud 'epidemic' - Sep 17, 2004

Rampant fraud in the mortgage industry has increased so sharply that the FBI warned Friday of an "epidemic" of financial crimes which, if not curtailed, could become "the next S&L crisis."


That article was posted Friday, September 17, 2004 - fully 4 years before the infamous TARP was passed.

Again, I go back to "follow the money". The source of "profits" for people in the chain has to trickle down from someone. If the crack dealer on the street is making a nice profit, that means that someone up the chain is living the high-life in (several) mansions.

The corruption doesn't start with some low-level guy saying "There's no money in doing this, but WTF, I'll do it at a loss."

However, irrespective of the chain of who did what to whom - once the FBI reported it had detected an "epidemic of mortgage fraud" - that is SUPPOSED to spawn an independent fork in the event chain that initiates an analysis and criminal investigations.

That the process of criminal investigation was cut-off (by whom?) is, at the least, disturbing.

Actually I predicted it before the FBI. I was in Miami on business and a guy told he he got a "NO DOC" mortgage and explained that meant he didn't have to furnish documentation on his income ... I remember thinking... this will not end well.

When I bought my first house, the bank went over my financials with a magnifying glass. I had to put 20% down in cash. Then I had to furnish paperwork to show that the cash had come from my bank account from money I had saved and not a gift. Your relatives couldn't pay it for you. The bank wanted to ensure that I had "skin" in the game. They contacted my employer who had to fill out paperwork stating I worked there AND the likelihood of me continuing to do so. Interest rates were over 12% .

Then somewhere along the line , interest rates went down to under 5% with 100% financing and stayed there. Once all the normal buyers had bought homes, the banks created exotic financing schemes to get "sub prime" mortgages for "high risk" buyers (people who would have been declined under the old rules).

For 8 years, the Federal Government instituted tax breaks and kept the interest rates low to spur the housing industry to keep the economy moving while the Government borrowed $ Trillions to fight wars all over the planet.

Then the chickens came home to roost ..... and the economy has been neck deep in ChickenShit ever since.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
The following user says Thank You to ThatManFromTexas for this post:
 
  #80 (permalink)
Elite Member
Calcutta, India
 
Futures Experience: Intermediate
Platform: ArthaChitra
 
Posts: 278 since Jun 2009
Thanks: 161 given, 259 received



ThatManFromTexas View Post
Actually I predicted it before the FBI. I was in Miami on business and a guy told he he got a "NO DOC" mortgage and explained that meant he didn't have to furnish documentation on his income ... I remember thinking... this will not end well.

been reading the book The Big Short and a quote from the same


Quoting 
In Bakersfield, California, a Mexican strawberry picker with an income of $14,000 and no English was lent every penny he needed to buy a house for $724,000


Reply With Quote
The following 3 users say Thank You to bukkan for this post:

Reply



futures io > > > Someone doesn't like Obama

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Why Banning Short-Selling 'Doesn't Do Any Good' Quick Summary News and Current Events 0 August 12th, 2011 07:40 PM
Obama Backs New Debt Plan That Doesn't Increase Taxes Quick Summary News and Current Events 0 July 25th, 2011 05:20 PM
why doesn't it take me out . . . jmejedi Traders Hideout 27 January 24th, 2011 03:47 AM
Yuan Rises as US Says China Doesn't Manipulate Quick Summary News and Current Events 0 July 9th, 2010 07:50 AM


All times are GMT -4. The time now is 08:41 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.18 seconds with 20 queries on phoenix via your IP 54.160.245.121