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Old 10-08-2010, 09:28 PM
 
Location: Wherever women are
19,011 posts, read 27,113,388 times
Reputation: 11309

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Wow. Just wow.

Not even sure if it's safe to buy a house with these crooks now

Mortgage-Title Fraud: A National Catastrophe -- Seeking Alpha
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Old 10-09-2010, 04:49 PM
 
Location: Warwick, RI
3,762 posts, read 4,606,323 times
Reputation: 6027
I am no fan of Obama and his anti-capitalist policies, but he did the right thing by vetoing this bill. If a bank is going to foreclose on your home, the least they could do is sign the papers in person and have it properly notarized. With that said, I do NOT believe that this latest so called crisis is going to amount to anything. Bank Of America has stated that they believe review will show that they acted correctly in a vast majority of foreclosures, and that the inproper paperwork will affect only a very small number of cases. Unfortunatley, this "issue" has been siezed upon by a sensationalist media and a few desperate politicians in a vain attempt to make banks into the popular scapegoat yet again in an effort to avoid getting swept out of office in November. It is my humble opinion that this "issue" will quickly dive under the radar and disappear after the Nov election.

As for GMAC, they should have been allowed to die, along with the rest of the rotting corpse known as General Motors.
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Old 10-11-2010, 06:30 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,591,651 times
Reputation: 6379
Quote:
Originally Posted by treasurekidd View Post
I am no fan of Obama and his anti-capitalist policies, but he did the right thing by vetoing this bill. If a bank is going to foreclose on your home, the least they could do is sign the papers in person and have it properly notarized. With that said, I do NOT believe that this latest so called crisis is going to amount to anything. Bank Of America has stated that they believe review will show that they acted correctly in a vast majority of foreclosures, and that the inproper paperwork will affect only a very small number of cases. Unfortunatley, this "issue" has been siezed upon by a sensationalist media and a few desperate politicians in a vain attempt to make banks into the popular scapegoat yet again in an effort to avoid getting swept out of office in November. It is my humble opinion that this "issue" will quickly dive under the radar and disappear after the Nov election.

As for GMAC, they should have been allowed to die, along with the rest of the rotting corpse known as General Motors.
Litigation can last years, aye.
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Old 10-12-2010, 07:55 PM
 
Location: Spokane via Sydney,Australia
6,613 posts, read 11,950,020 times
Reputation: 3107
Quote:
Originally Posted by Antlered Chamataka View Post
I'll shed no tear for GMAC. They ripped many people off.
Raises hand..............
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Old 10-14-2010, 09:19 PM
 
Location: Wherever women are
19,011 posts, read 27,113,388 times
Reputation: 11309
Quote:
Originally Posted by Opyelie View Post
Raises hand..............
Really?? Down in Oz??
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Old 10-14-2010, 09:35 PM
 
Location: Spokane via Sydney,Australia
6,613 posts, read 11,950,020 times
Reputation: 3107
Quote:
Originally Posted by Antlered Chamataka View Post
Really?? Down in Oz??

Nope - I've been in the USA 10 years now LOL

They wouldn't get away with the way they act here down in Oz........
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Old 10-15-2010, 10:47 AM
 
Location: Old Town Alexandria
14,495 posts, read 24,833,429 times
Reputation: 8895
Quote:
Originally Posted by Des-Lab View Post
Yup. Exactly. Remember two things. 1) the dollar trumps principle every time. And 2) when GMAC screws someone over, it gets chalked up to "mistakes were made" and we move on because the Greater Good is much more important than the Pootywinkle family from Little Pinto, UT. Conversely, if you default on your bills, you have a moral obligation to pay back every cent owed including interest-up to and including selling your children into a Korean child trafficking ring or your mother to prison (so as to get those free license plates, which would free up more of your money to pay back the Big Banks.).

Remember. You need Wall Street. Wall street doesn't need you.
very well said. Sad and true.
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Old 10-15-2010, 02:12 PM
 
Location: San Diego California
6,797 posts, read 6,669,200 times
Reputation: 5180
Quote:
Originally Posted by treasurekidd View Post
I am no fan of Obama and his anti-capitalist policies, but he did the right thing by vetoing this bill. If a bank is going to foreclose on your home, the least they could do is sign the papers in person and have it properly notarized. With that said, I do NOT believe that this latest so called crisis is going to amount to anything. Bank Of America has stated that they believe review will show that they acted correctly in a vast majority of foreclosures, and that the inproper paperwork will affect only a very small number of cases. Unfortunatley, this "issue" has been siezed upon by a sensationalist media and a few desperate politicians in a vain attempt to make banks into the popular scapegoat yet again in an effort to avoid getting swept out of office in November. It is my humble opinion that this "issue" will quickly dive under the radar and disappear after the Nov election.

As for GMAC, they should have been allowed to die, along with the rest of the rotting corpse known as General Motors.
He did not veto it, he did a pocket veto. Look for this bill to resurface after the elections.
This is a legal mess that could cause a banking crises that would make Lehman look like a minor issue. They will not allow it to get out of hand.
The government works for the banks, and the crooks will lie, cheat, steal, murder, or anything else it takes to cover this up, and hang on to their ill gotten gains.
In the interim, there is some money to be made shorting financials.
Remember the fact that we are the ants under the table, who when lucky can get away with a few crumbs.
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Old 10-15-2010, 04:17 PM
 
Location: Warwick, RI
3,762 posts, read 4,606,323 times
Reputation: 6027
Quote:
In the interim, there is some money to be made shorting financials.
Remember the fact that we are the ants under the table, who when lucky can get away with a few crumbs.
Very true jimhcom, there is short term money to be made shorting financials, but in my humble opinion, you'll get bigger crumbs by accumulating now and going long. If what you say about banks is true, in 5 years you'll have a heck of a big pile of crumbs. Overall I agree with most of what you say, I'm just suggesting a different way of looking at the situation.
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Old 10-16-2010, 09:52 AM
 
Location: San Diego California
6,797 posts, read 6,669,200 times
Reputation: 5180
Quote:
Originally Posted by treasurekidd View Post
Very true jimhcom, there is short term money to be made shorting financials, but in my humble opinion, you'll get bigger crumbs by accumulating now and going long. If what you say about banks is true, in 5 years you'll have a heck of a big pile of crumbs. Overall I agree with most of what you say, I'm just suggesting a different way of looking at the situation.
Agreed. In the long run, siding with the Kings is always the winning stratagy.
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