[Spridgets] Sad

brian james daredelvis at gmail.com
Wed Sep 23 09:14:57 MDT 2009


More likely a variant of NINA, or "No Income No Asset" loan. I doubt
it has anything to do with racism.

What was the deal with the Aston Martin?  That can't be right.

My wife is taking the new baby to visit the in laws in Montana this
weekend, so I am hoping to get the interior into the Bugeye. Body,
engine, wiring, suspension and hydraulics all finished.    Might beat
that 22 year deadline on this restoration yet!
Brian

Subprime BS below############################
My personal biases lead me to lay this whole mess at the feet of Phill
Gramm, but I would be wrong to do that. Many people blame the banking
crisis on the Gramm-Leach-Bliley Act that deregulated the banking
industry by repealing provisions of the depression era Glass-Steagall
act, but it is not that simple.  There is plenty of blame to go
around, but it is unlikely that the Carter era Community Reinvestment
Act had a significant impact on the banking crisis since, according to
the FDIC and other sources CRA regulated loans tend to be safe and
profitable, and that subprime excesses came mainly from institutions
not regulated by the CRA. It appears to me that the only absolute you
can rely on in this mess is that if someone offers a simple
explanation of the banking crisis to score a partisan point they are
almost always 100% wrong.




On Wed, Sep 23, 2009 at 8:34 AM,  <andrewpayne at intrex.net> wrote:
> I first heard the term "ninja" loan a week ago at a conference. It may have
just been out of the loop, or maybe it's because I don't watch Fox news.  But
I ask curious if there is a real reason for this term, ie a long standing
acronym.  Otherwise it seems like thinly veiled racism by whomever (Fox?)
coined the phrase.
> I make this statement because, for years the word "ninja" has been used by
folks now in their 20s and 30s to replace the other "N word" in casual
conversation and while singing along with music. And the word sounds similar
too.  If there is some other meaning to this phrase please correct me.  But
all the same, keep this meaning in mind.
> Drew
> ------Original Message------
> From: brian james
> Sender: spridgets-bounces at autox.team.net
> To: Robert E. Shlafer
> Cc: Spridgets
> Subject: Re: [Spridgets] Sad
> Sent: Sep 23, 2009 8:23 AM
>
> No, not even close.
>
>
> On Wed, Sep 23, 2009 at 6:44 AM, Robert E. Shlafer <pilotrob at webtv.net>
> wrote:
>> Actually didn't this start with Carter,  doubled-down upon by Clinton in
the
> 90's and enforced upon by Janet Reno/Jaime Garelick intimidating banks by
way
> of threat of Federal Audit as Obama in his role as an ACORN attorney sued
> banks who refused to have anything to do with NINJA loans/mortgages????
>>
>> Cap'n. Bob      '60 :{)
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