U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-17-2014, 12:16 PM
 
4,714 posts, read 2,179,893 times
Reputation: 1652

Advertisements

Quote:
Originally Posted by jmking View Post
You forgot one, money laundering. Oh, another------rating agency payoffs.
We could create a thread several hundred pages long I bet detailing the scams, fraudulent behavior and disastrous policies brought to us by those at the Big Banks. Of course, nothing they did was "illegal" when they have politicians on speed dial to tailor laws to their whim.


That would be like me writing a law allowing me to murder people and passing it off to bought and paid for politicians, to pass it in order to see what is in it. Being unethical and immoral does not enter into their lexicon.
They are animals pure and simple.
Reply With Quote Quick reply to this message

 
Old 01-17-2014, 12:23 PM
 
Location: San Diego California
6,797 posts, read 5,984,868 times
Reputation: 5157
Bottom line is that the standard of living in America is on the decline, and the days of home ownership being the norm for the average American is going away.
Home ownership going forward will be for the upper classes and renting will be for the lower classes.
Reply With Quote Quick reply to this message
 
Old 01-17-2014, 12:23 PM
 
10,736 posts, read 6,276,015 times
Reputation: 6005
Quote:
Originally Posted by J746NEW View Post
We could create a thread several hundred pages long I bet detailing the scams, fraudulent behavior and disastrous policies brought to us by those at the Big Banks. Of course, nothing they did was "illegal" when they have politicians on speed dial to tailor laws to their whim.


That would be like me writing a law allowing me to murder people and passing it off to bought and paid for politicians, to pass it in order to see what is in it. Being unethical and immoral does not enter into their lexicon.
They are animals pure and simple.
And it will continue until people put a stop to it.

But the under 40 crowd is too busy voting for more free sh*t and can't be bothered. So let them pay rent to the Lords of the Manor in NY until the whole corrupt system crashes on their heads.
Reply With Quote Quick reply to this message
 
Old 01-17-2014, 12:25 PM
 
6,203 posts, read 6,410,512 times
Reputation: 3079
Quote:
Originally Posted by J746NEW View Post
We could create a thread several hundred pages long I bet detailing the scams, fraudulent behavior and disastrous policies brought to us by those at the Big Banks. Of course, nothing they did was "illegal" when they have politicians on speed dial to tailor laws to their whim.


That would be like me writing a law allowing me to murder people and passing it off to bought and paid for politicians, to pass it in order to see what is in it. Being unethical and immoral does not enter into their lexicon.
They are animals pure and simple.
It appears their business model in many ways is unethical. These banks should have been broken up into small pieces 5 years ago. They will eventually because they will force Americans to act with or without the Fed.
Reply With Quote Quick reply to this message
 
Old 01-17-2014, 12:30 PM
 
Location: Barrington
39,743 posts, read 30,280,815 times
Reputation: 13462
Bloomberg published this in December.

Blackstone's Big Bet on Rental Homes - Bloomberg

Almost 60% of the bond is AAA rated and is paying a whopping 1.344 coupon rate.
The government is not involved.

Just about anything one can imagine has been securitized and sold to investors over the last 20 +/- years. My personal favorite is sub prime car loans.
Reply With Quote Quick reply to this message
 
Old 01-17-2014, 12:32 PM
 
4,714 posts, read 2,179,893 times
Reputation: 1652
Quote:
Originally Posted by jmking View Post
It appears their business model in many ways is unethical. These banks should have been broken up into small pieces 5 years ago. They will eventually because they will force Americans to act with or without the Fed.
I'm in the process of completely separating myself from the system and being completely independent so that my productivity does not trickle up to them and nor do my taxes trickle up to the government they own.

I hope more people do the same as well.

If the government and military collapsed, the ones that have the most to loose are the top .5% that make their gains from Wall Street. Let it collapse.
Their own short sighted Greed will cause it to happen.
Reply With Quote Quick reply to this message
 
Old 01-17-2014, 12:34 PM
 
Location: Barrington
39,743 posts, read 30,280,815 times
Reputation: 13462
Quote:
Originally Posted by CDusr View Post

Govt most certainly is in there.
Really?

Can you provide a link, please.
Reply With Quote Quick reply to this message
 
Old 01-17-2014, 12:41 PM
 
Location: Barrington
39,743 posts, read 30,280,815 times
Reputation: 13462
Quote:
Originally Posted by Gtownoe View Post
Before even reading your post, that's what I initially thought after seeing the title.



1 in 3 Foreclosures Have Bank Errors to Blame | AOL Real Estate

Nearly a third of foreclosed borrowers, or 1.2 million, in 2009 and 2010 were fighting off foreclosure even though they never defaulted on their loans or were otherwise in good standing under bank-approved plans.


Bank of America Lied To Home Owners, Former Workers Allege

The former employees, who worked at Bank of America centers throughout the United States, said the bank rewarded customer service representatives who foreclosed on homes with cash bonuses and gift cards to retail stores such as Target Corp and Bed Bath & Beyond Inc.

For example, an employee who placed 10 or more accounts into foreclosure a month could get a $500 bonus. At the same time, the bank punished those who did not make the numbers or objected to its tactics with discipline, including firing.
It is very rare for anyone who is current on their mortgage to be foreclosed upon due to an error. The 22 states that use judicial procedures to foreclose offer extra, albeit more costly, layers to achieve a foreclosure.
Reply With Quote Quick reply to this message
 
Old 01-17-2014, 12:49 PM
 
Location: Barrington
39,743 posts, read 30,280,815 times
Reputation: 13462
Quote:
Originally Posted by hnsq View Post
For the dozenth time, those articles have been proven to be flat out wrong. Those people did default on their loans, but a news organization claimed that they were potentially protected from default due to a litany of laws. Nothing was ever proven to be valid from those articles.

You keep reposting the same two articles without ever addressing the fact that no one can prove they are right.
No doubt there have been a few mistaken foreclosures, especially in those states that allow non-judicial foreclosures.

There is ample opportunity for an owner to redeem his property before foreclosure.
Once foreclosed, a the asset manager, representing the bank typically offers the former owners cash for keys to depart and leave the property intact and avoid eviction proceedings.
Reply With Quote Quick reply to this message
 
Old 01-17-2014, 12:58 PM
 
Location: USA
12,742 posts, read 9,642,718 times
Reputation: 4152
Quote:
Originally Posted by middle-aged mom View Post
It is very rare for anyone who is current on their mortgage to be foreclosed upon due to an error. The 22 states that use judicial procedures to foreclose offer extra, albeit more costly, layers to achieve a foreclosure.
The court documents paint a picture of customer service operations where managers roamed the floor with headsets, able to listen into any call without warning. Service representatives were told to lie to homeowners, telling them their paperwork and payments had not been received, when in reality they had.

"This is exactly what's been happening to homeowners for years," said Danielle Kelley, a foreclosure defense lawyer in Florida. "No matter how many times they send in their paperwork, or how often they make their payments, they simply can't get loan modifications. They wind up in foreclosure instead."

The former employees said they were told to falsify electronic records and string homeowners along in foreclosure as long as possible. The problem was exacerbated because the bank did not have enough employees handling modifications, adding to the backlog of cases purged during the "blitz" operations.

Bank of America Lied To Home Owners, Former Workers Allege
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2017, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32 - Top