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Reload this Page IndyMac bank failures (Ron Paul, financial, federal, chairman)
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Old 07-14-2008, 04:49 PM
 
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Our economy, but for government intervention, is in a state of free-fall collapse. The sooner that we recognize this, the better.
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Old 07-14-2008, 05:47 PM
 
Location: Great State of Texas
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Quote:
Originally Posted by Nomander View Post
1. Anyone who has that much in a single account is stupid in the first place.

2. So apparently, a bunch of stupid banks who did stupid loans to stupid people are now the leading descriptor of a recession?
IndyMac was a spinoff from Countryside Mortgage...guess who Countryside gave all their bad paper to ? IndyMac took the fall for Countryside.
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Old 07-14-2008, 07:50 PM
 
Location: Beautiful Lakes & Mountains of East TN
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Wasn't countryside the one who gave a sweetheart mortgage to someone in politics...was it a pres. candidate or congressperson? I can't remember.
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Old 07-14-2008, 08:24 PM
 
Location: Major Metro
1,083 posts, read 2,293,275 times
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Originally Posted by bbkaren View Post
Wasn't countryside the one who gave a sweetheart mortgage to someone in politics...was it a pres. candidate or congressperson? I can't remember.
Countrywide.
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Old 07-14-2008, 08:25 PM
 
7,530 posts, read 11,367,834 times
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Originally Posted by lkm370 View Post
thats what you get when you de-regulate too much
It just seems like most othe these problems are about the banks and borrowers not using common sense. Do we have to regulate common sense nowdays?
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Old 07-15-2008, 12:24 AM
 
20,341 posts, read 19,930,346 times
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Originally Posted by bbkaren View Post
Wasn't countryside the one who gave a sweetheart mortgage to someone in politics...was it a pres. candidate or congressperson? I can't remember.
Whoops! We were supposed to forget all about that. Move along, now.
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Old 07-15-2008, 05:48 AM
 
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Washington Mutual will likely be the next major bank failure.
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Old 07-15-2008, 07:20 AM
 
Location: Beautiful Lakes & Mountains of East TN
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Does that mean I don't have to pay that pesky home equity line of credit? Yay!
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Old 07-15-2008, 07:42 AM
 
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Is that ‘pesky’ home equity line a recourse or nonrecourse loan?
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Old 07-15-2008, 08:32 AM
 
Location: Albemarle, NC
7,730 posts, read 14,159,784 times
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Quote:
Originally Posted by bbkaren View Post
Wasn't countryside the one who gave a sweetheart mortgage to someone in politics...was it a pres. candidate or congressperson? I can't remember.
Countrywide tossed off all their bad loans before the close of the sale to Bank of America happens. B of A happens to be a Federal Reserve bank.
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