Ben Stein on CBS Sunday Morning just now : 'buy mortgage stocks now and you'll be glad you did'

[youngdem]

What a tool...His piece was complete with fake facts about how low a percentage the subprime foreclosure rates are, and fully ignored the effect that 1 million homes hitting the market at once will have on the construction industry and the values of homeowners across the nation.

And then this hack shill says viewers would be WISE TO BUY mortgage company stocks right now !!!

What an asshole. The foreclosure crisis is just getting started. ARM's are just now hitting their adjusted higher rates for millions of borrowers. Insurance rates are going bananas in many markets (southeast especially), and property taxes too are skyrocketing as more basic service spending is passed to local governments. And, in response to this crisis, lenders are gonna tighten up their requirements, taking millions of buyers out of the market or at least knocking them down in price range.


It's gonna get MUCH, MUCH worse.

[Ian David]

1. He also says that the fisheries aren't in trouble, either. n/t

[spanone]

2. ben stein is a joke, but not funny.

[capi888]

3. Wow, Ben Stein is a BUSH shrill...

What a worthless piece of manure...ANYONE with any sense would know the market for morgages is sinking fast...Bush has all his minions out there today, talking up the WH stategy...FOOL THE PUBLIC...

[tbyg52]

9. Trying to prop up the economy

Via us poor schlubs who can't afford the money we'd lose if we followed his advice.

[Deja Q]

4. Will Ben actually buy such stocks? Last I recall, he's wealthy.

If he wants credibility, he should buy a bunch to show he has faith in what he says.

Isn't that how it's supposed to work?

Otherwise he's as relevant as Suze Orman.

[screembloodymurder]

5. I hope CBS had a disclaimer.

Ben Stein should be behind bars.

[Graybeard]

6. Why is this disgusting puke on TV?

...especially when I am eating breakfast. What an awful, putrid piece of garbage.

[Loge23]

7. Just turn him off...

I love the show - watch it every week; but I always reach for the remote when this piece of garbage comes up. He's a hack, plain and simple.

[Swede]

8. He's not wrong.

The rich get richer by swimming upstream. When gas at a local station is cheap,people line up to buy it,they never do when it's rising.

[youngdem]

14. We are at the beginning of a real estate crash...That is NOT the time to buy a real estate stock

Prices are going down, costs are going up, defaults are increasing like crazy, predatory loans' trigger clauses are kicking in, and wages are going down effectively.

So, we have every major market force in real estate pointing toward a MAJOR correction. 34 sub-prime lenders crashed since Jan 1. And every major analyst except for this bozo calling for further, STEEP increases in mortgage defaults.

But hey, trust a half-assed comedian who used to work for Nixon.

[DogPoundPup]

10. Look For Another bushcofamily Taxpayer Bailout

Remember the Savings & Loan Scandals during bush I?
http://www.freerepublic.com/forum/a389b6a173e33.htm

So here is the intro to the bushco's next theft scheme;
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/03-16-2007/0004547776&EDATE=

[newyawker99]

11. Hi DogPoundPup!!

Welcome to DU!! :toast:

[Graybeard]

16. Welcome to DU!

And thanks for those links.

[peace13]

12. He was speaking to the Haves!

Simply stating that money will be made on the backs of the middle class who will lose it all including their homes and suffer by the sword of the bankruptcy bill passed by our beloved politicians! He made me physically ill when he was speaking. NGU, Kim

[freethought]

13. He's making a market for the suckers.

Big Wall Street firms are likely dumping or getting ready to dump their mortgage stocks. So you have a shill go on national TV and try to get the little guys to buy up whatever gets dumped.

Sounds like what goes on at CNBC every day.

[NightWatcher]

15. DU Reminder: Ben Stein was a Nixon speechwriter

This should be the disclaimer anytime he opens his yapper

[Jack Rabbit]

17. Ben Stein is a commedian. What was his punch line?

??

[vanlassie]

18. Ben Stein Makes Me Want To Retch n/t

[ComerPerro]

19. Republican shill, but most Americans think he is smart because

he talks with a boring voice, wears glasses, and was the star of his own (and quite certainly rigged) game show.