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The loan defaulters got their houses awarded to them in court without having to complete the terms (or make any more payments) of their mortgage. Why? Already explained: Statute of Limitations.
Who's out the money when that happens? The MBS buyers.
NOW you know why the Federal Reserve created $2 Trillion out of thin air to buy GSE-issued MBS.
You just made that up. I don't know what else to say.......you make a claim and use an example of an old state law that has nothing to do with what you claim as an example.
You just made that up. I don't know what else to say.......you make a claim and use an example of an old state law that has nothing to do with what you claim as an example.
I made nothing up. Foreclosures are being dismissed in courts all over the U.S. due to Statutes of Limitations.
Who do you think makes the GSE-issued MBS buyers whole when that happens? The taxpayers, in the form of the $2 Trillion the Federal Reserve created to buy compromised GSE-issued MBS. Not only does that $2 Trillion artificially injected into the economy devalue the dollar (the so-called QE tax), but taxpayers have to pay interest on the Treasury Securities that were issued and used to buy those $2 Trillion in GSE-issued MBS.
Who do you think makes the GSE-issued MBS buyers whole when that happens? The taxpayers, in the form of the $2 Trillion the Federal Reserve created to buy compromised GSE-issued MBS. Not only does that $2 Trillion artificially injected into the economy devalue the dollar (the so-called QE tax), but taxpayers have to pay interest on the Treasury Securities that were issued and used to buy those $2 Trillion in GSE-issued MBS.
That has no relation to the court-ordered foreclosure dismissals.
This has nothing to do with the taxpayer bail outs. These are decades old laws.
Rapid dominance is defined by its authors, Harlan K. Ullman and James P. Wade, as attempting
"to affect the will, perception, and understanding of the adversary to fight or respond to our strategic policy ends through imposing a regime of Shock and Awe."[3]
Further, rapid dominance will
"impose this overwhelming level of Shock and Awe against an adversary on an immediate or sufficiently timely basis to paralyze its will to carry on... [to] seize control of the environment and paralyze or so overload an adversary's perceptions and understanding of events that the enemy would be incapable of resistance at the tactical and strategic levels."[4]
This has nothing to do with the taxpayer bail outs.
$2 Trillion in QE has nothing to do with taxpayer bailouts? How so? Taxpayers have to pay interest on that $2 Trillion (it was added to the National Debt via the creation of Treasury securities). PLUS that additional $2 Trillion injected into the economy devalued the dollar.
Do you NOT understand how increasing the Federal Reserve's balance sheet works?
The supposed Wall Street bailout was very small potatoes compared to the $2 Trillion bailout of just the GSEs, and therefore John and Jane Mainstreet:
$2 Trillion in QE has nothing to do with taxpayer bailouts? How so? Taxpayers have to pay interest on that $2 Trillion (it was added to the National Debt via the creation of Treasury securities). PLUS that additional $2 Trillion injected into the economy devalued the dollar.
Do you NOT understand how increasing the Federal Reserve's balance sheet works?
The supposed Wall Street bailout was very small potatoes compared to the $2 Trillion bailout of just the GSEs, and therefore John and Jane Mainstreet:
The government gave the banks a bail out program to help keep people in their homes.....things like refinancing those underwater that would still be able to pay their payments with lower payments, etc.
Instead the banks simply used this money to "pay back" the original bail out moneys. Did they then care about the taxpayers "assets"? No they did not.
I have no clue what you are trying to prove but this is all on the Fed, the politicians and the banks.
The government gave the banks a bail out program to help keep people in their homes.....things like refinancing those underwater that would still be able to pay their payments with lower payments, etc.
BS. Courts all over the country are outright dismissing foreclosure actions on those who haven't made their mortgage payments in 5 or more years, due to Statutes of Limitations. They're NOT still paying, and they're NOT even paying lower payments. They've paid NOTHING for 5+ years, and can keep their homes without ever making another mortgage payment.
I have no clue what you are trying to prove but this is all on the Fed, the politicians and the banks.
No one put a gun to anyone's head and forced them to sign mortgage loan documents. Irresponsible borrowers are equally to blame, but they're getting free homes paid for by U.S. taxpayers.
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