[VegasVicsezhowdy]

Originally Posted by lvoc

Caught an anti eminent domain ad on the radio this week. Pure balderdash and a yard wide. I wonder if that means some of the lenders are getting concerned that it may actually get a try?

it would be interesting to see someone actually try it.

All the stuff that's happening now and nobody seems to care... it's astonishing!

BofA(holes) paying their staff $500 bonuses and issuing gift cards for Target and Bed, Bath & Beyond to falsify records and delay loan-assistance applications. Where is the moral outrage and cry for justice?

At the very least, the orchestrators should be punished, however, I would prefer it if the government seized ALL of their assets, since they were, in essence, illegally obtained.

[lvoc]

Originally Posted by VegasVicsezhowdy

All the stuff that's happening now and nobody seems to care... it's astonishing!

BofA(holes) paying their staff $500 bonuses and issuing gift cards for Target and Bed, Bath & Beyond to falsify records and delay loan-assistance applications. Where is the moral outrage and cry for justice?

At the very least, the orchestrators should be punished, however, I would prefer it if the government seized ALL of their assets, since they were, in essence, illegally obtained.

If a particular crime is committed widely enough it is always mostly ignored. I have a few BofA scars myself. But i don't see any likelihood of it being pursued in a big way. Just no payoff in putting `10,000 people in jail.

And note that most of the BofA sins derive from the CW operation. Those guys did not reform when they came over.

Still fascinated why BofA touched CW....Got to be a government hand in there somewhere.

[VegasVicsezhowdy]

Originally Posted by lvoc

If a particular crime is committed widely enough it is always mostly ignored. I have a few BofA scars myself. But i don't see any likelihood of it being pursued in a big way. Just no payoff in putting `10,000 people in jail.

And note that most of the BofA sins derive from the CW operation. Those guys did not reform when they came over.

Still fascinated why BofA touched CW....Got to be a government hand in there somewhere.

No need to jail them at the taxpayers expense, just confiscate their assets and issue a lifetime ban against any ties to finance and banking. Apply the proceeds towards the national debt.

[off topic]

[lvoc]

Originally Posted by VegasVicsezhowdy

No need to jail them at the taxpayers expense, just confiscate their assets and issue a lifetime ban against any ties to finance and banking. Apply the proceeds towards the national debt.

They don't have any assets. The standard CW mortgage broker starved out of the business in 2007/2008.

And they could be easily convicted by the bad paper.

Go up a ways and you do have some people who got out well off. But you don't have bad paper on them. You have to prove they directed stuff when the formal system shows they did not. And the people you have to testify against them are the ones who actually committed the felonies.

The big winners who took the money and ran were those who sold homes in 2004 -2008. And lots of them sold three or four or more.

[observer53]

Unless this B of A situation is ONLY happening in Las Vegas, we are steering off topic, again....

[SportyandMisty]

Originally Posted by lvoc

Silliness. Not worth the cost of prosecuting. Should simply have nailed them for any money made...

If you just nail someone for money made, then there is no deterrent effect: either (a) you get away with it, or (b) you are no worse off than you otherwise would have been.

I don't know what the answer is, but certainly putting a few people on trial & putting them away for for a long time will help provide a deterrent.

[lvoc]

Originally Posted by SportyandMisty

If you just nail someone for money made, then there is no deterrent effect: either (a) you get away with it, or (b) you are no worse off than you otherwise would have been.

I don't know what the answer is, but certainly putting a few people on trial & putting them away for for a long time will help provide a deterrent.

The recent indictment for short sale fraud in Henderson is pretty much such a show trial. It is not even certain the bank lost any money. The "crime" is maintaining ownership of the home and lying about it.

The CW/BofA thing is much trickier. There are hundreds of local mortgage brokers who cooked the paper...which many if not most were doing. Easily prosecuted because of the paper trail. Going after the upper guys who actually are responsible is much different. No paper trial and a vigorous defense is likely. What prosecutor wants to put hundreds of thousands of dollars into a prosecution they might well lose?

Crime, sometimes, does pay.

[lvoc]

Originally Posted by observer53

Unless this B of A situation is ONLY happening in Las Vegas, we are steering off topic, again....

I would point out that the mortgage situation in Las Vegas was in fact unique. Lesser versions in Phoenix and southern Florida, but no place near as bad as in Las Vegas. The vast majority of the nation has no idea what it was like..

So I would think Las Vegas rates a little room on the subject.

[observer53]

Originally Posted by lvoc

I would point out that the mortgage situation in Las Vegas was in fact unique. Lesser versions in Phoenix and southern Florida, but no place near as bad as in Las Vegas. The vast majority of the nation has no idea what it was like..

So I would think Las Vegas rates a little room on the subject.

I agree, if the posts are clear about things happening in Vegas that were happening only there, or more there than in other places, that's useful and on topic info. The posts above did not make that clear.

[007 license to sell]

Below are two articles that are shedding light on what is happening with housing inventory and it's effect on the buyer and seller both long term and short term.

[SIZE=4]Report shows Las Vegas housing stock continues to dwindle[/SIZE]
[LEFT][SIZE=3]Report shows Las Vegas housing stock continues to dwindle | Las Vegas Review-Journal[/SIZE]
[SIZE=4]Why Rising Mortgage Rates May Trap You: Zillow CEO[/SIZE]


[SIZE=4]http://www.cnbc.com/id/100795579[/SIZE]
[/LEFT]