Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Is this going to get messy or what? How can the Government sue (or perhaps this is on behalf of the taxpayers) when Government Officials like Barney Frank encouraged the lowering of lending standards of banks when this whole thing got started?
Also if they win, what would be done with the money? Or would they really end up not paying anything and the Federal Reserve would just fire up the printing presses yet AGAIN to "pay the taxpayers back" when we'd be the one actually paying through inflation in the stratosphere that would result?
I think if they win they should make the CEOs pay AND the government officias who were involved and throw them all in jail afterwards and forget about trying to collect from the banks. TAKE AWAY THEIR ABILITY TO CREATE PONZI SCHEMES. Reinstate Glass-Steagall.
Hey you guys! Don't you see the major hypocracy here? The very banks that the Governemnt bailed out are now being sued for basically following the government recommendations earlier on for lowering their lending standards etc.!
I just listened to Peter Schiff's Monologue from earlier this AM and he is taking credit for being the only one to notice the irony. He went to town talking about how crazy it was that this was going on. (I will have to email him and let him know he wasn't the ONLY one.)
Hey you guys! Don't you see the major hypocracy here? The very banks that the Governemnt bailed out are now being sued for basically following the government recommendations earlier on for lowering their landing standards etc.!
I just listened to Peter Schiff's Monologue from earlier this AM and he is taking credit for being the only one to notice the irony. He went to town talking about how crazy it was that this was going on. (I will have to email him and let him know he wasn't the ONLY one.)
I see it. This should really help the economy and just think of how many jobs will be lost if this goes forward. 1992 I believe was when the Federal push to put more minorities and poor people in houses began and launched the 0% loan no qualifications necessary nonsense. Of all people, Freddie and Fannie should have known the risk in those loans. I think this was all created by insiders.
The housing crisis is still in crisis.. it has been put on hold these past months and there is a back log of foreclosures coming through.robo signing was stopped which was pushing the homes into foreclosure faster....millions more foreclosures coming in 2012 that will put a tail spin on the country's financial stability and create even more economic turmoil that will put the financial sector in a free fall with more economic woes.
The government and the banks just didn't know how big a tragedy iit is. This is what is pulling the whole country down.
Millions of mortgage defaults, banks and the government up to their eyeballs in foreclosures. Drowning in problems and no one has any answers.
Housing prices dropping into bargain basement prices . Banks strapped with upkeep of tens of thousands of homes that are sitting and the insides of the homes being stripped as they sit idle.
Hey you guys! Don't you see the major hypocracy here? The very banks that the Governemnt bailed out are now being sued for basically following the government recommendations earlier on for lowering their lending standards etc.!
I just listened to Peter Schiff's Monologue from earlier this AM and he is taking credit for being the only one to notice the irony. He went to town talking about how crazy it was that this was going on. (I will have to email him and let him know he wasn't the ONLY one.)
This administration is absolutely bazaar!!!
They talk about the courts being too backlogged to do anything about the illegals draining our coffers and taking our jobs. They sue states to prevent them from enforcing federal laws that the feds won't enforce that are costing the states a fortune in entitlements, , now they want to sue the banks for giving the loans that they mandated.
Our leaders will put on a dog and pony show and when it is all said and done they will fine the banks a couple hundred million. And the banks will make up for that chump change by buying treasuries and the beat goes on.
Is this going to get messy or what? How can the Government sue (or perhaps this is on behalf of the taxpayers) when Government Officials like Barney Frank encouraged the lowering of lending standards of banks when this whole thing got started?
Also if they win, what would be done with the money? Or would they really end up not paying anything and the Federal Reserve would just fire up the printing presses yet AGAIN to "pay the taxpayers back" when we'd be the one actually paying through inflation in the stratosphere that would result?
I think if they win they should make the CEOs pay AND the government officias who were involved and throw them all in jail afterwards and forget about trying to collect from the banks. TAKE AWAY THEIR ABILITY TO CREATE PONZI SCHEMES. Reinstate Glass-Steagall.
What a dumb move with a capital D. A big part of the problem with the economy is the perception Obama is anti business, this dopey move will reinforce that view.
Do you think this move will make the banks more likely or less likely to make loans? Don't forget the biggest problem in 2007 was a lack of liquidity, this move will make 2007 liquidity look like a water fall.
Finally, banks are trading at pathetic multiples. The Fed is in talks with BofA to come up with a plan if their stock prices fall further. This insane move makes another bank bailout more likely.
Obama really has no clue how the economy works, this simply draws a bright line under that fact. This really will seal the deal for the Republicans in 2012.
Hey you guys! Don't you see the major hypocracy here? The very banks that the Governemnt bailed out are now being sued for basically following the government recommendations earlier on for lowering their lending standards etc.!
I just listened to Peter Schiff's Monologue from earlier this AM and he is taking credit for being the only one to notice the irony. He went to town talking about how crazy it was that this was going on. (I will have to email him and let him know he wasn't the ONLY one.)
The banks aren't being sued for following the government's recommendations regarding the lending standards, they are being sued for LYING about what was in the packaged mortgage backed securities that were sold.
What a dumb move with a capital D. A big part of the problem with the economy is the perception Obama is anti business, this dopey move will reinforce that view.
Do you think this move will make the banks more likely or less likely to make loans? Don't forget the biggest problem in 2007 was a lack of liquidity, this move will make 2007 liquidity look like a water fall.
Finally, banks are trading at pathetic multiples. The Fed is in talks with BofA to come up with a plan if their stock prices fall further. This insane move makes another bank bailout more likely.
Obama really has no clue how the economy works, this simply draws a bright line under that fact. This really will seal the deal for the Republicans in 2012.
So you believe banks should be able to lie then??
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What a dumb move with a capital D. A big part of the problem with the economy is the perception Obama is anti business, this dopey move will reinforce that view.
