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Location: New Albany, Indiana (Greater Louisville)
11,974 posts, read 25,462,489 times
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If you are old enough to remember the pre 9/11 boom economy of the late 1990s no other economy will ever feel vibrant. The mid/late 2Ks were good as is 2014-now but in both is much harder to get an interview now due to all the robo computers sifting resumes for keywords.
That didn't shock me. I saw how much money the oil companies, wall street etc. were throwing into the Clinton and Obama pockets in 2008.
They knew to butter their bread on both sides (including the R's) to protect themselves.
Besides, that's one of the main strengths of Pelosi (this coming from Democratic sources) is her ties into the financial market world for large, deep pocket political contributions to Dems. Love her or hate her, she's a rain-maker when it comes to that.
You don't think those companies are throwing money into Republican coffers right now.
As Trump proudly boasted often, corporations give money to both sides. They cover all their bases.
You claimed they were given free houses, and I showed from your own link it was not true.
The lender can't foreclose, can't seize the property, and the judges have signed off on it.
From the NY Times article:
Quote:
"There are tens of thousands of homeowners who have missed more than five years of mortgage payments, many of them clustered in states like Florida, New Jersey and New York, where lenders must get judges to sign off on foreclosures.
However, in a growing number of foreclosure cases filed when home prices collapsed during the financial crisis, lenders may never be able to seize the homes because the state statutes of limitations have been exceeded, according to interviews with housing lawyers and a review of state and federal court decisions.
“No one gets a free house,” Judge Michael B. Kaplan of the United States Bankruptcy Court in Trenton wrote in an opinion late last year, reflecting what he characterized as a longstanding “admonition” he and others made during the foreclosure crisis. But after effectively ending a New Jersey homeowner’s foreclosure case in November because the state’s six-year statute of limitations had expired, he wrote in his opinion, “With a proper measure of disquiet and chagrin, the court now must retreat from this position."
I've never lived during a better time. We are at our highest rate of earning since we've been married (20 years). My company is throwing around money like it's water for the first time in 10 years. Our house is worth more than ever. I don't know anyone un-employed right now.
Yep. Free houses. No mortgage payments. They can spend that money on something else.
I am counting on other readers to understand the point better than you do. It was not a gift, charity, welfare, or anything the Fed did (as you are trying to spin it). They were able to claim the house due to a legal quirk and statute of limitations having expired. No one gave them anything.
I am counting on other readers to understand the point better than you do. It was not a gift, charity, welfare, or anything the Fed did (as you are trying to spin it).
Au contraire. Had the Federal Reserve not bailed out Fannie and Freddie with $2 trillion in QE, those homes would have been foreclosed in a timely manner. The investors left holding the bag would have demanded it. As it is now... no one has to pay, the builders/sellers/GSEs/etc. were made whole at the point of purchase, the Federal Reserve just reduces/erases the line item as the MBS mature and roll off (remember, they don't have to mark to market or recognize any losses), and that $2 trillion in QE is never unwound. Well, maybe some of it will unwind, but most certainly not all.
So, let's see... ~$13,000/year in free QE money for even 20 years of what should have been a 30-year mortgage? That's $260,000 free QE money. But only for those who were irresponsible and didn't/don't pay their mortgages.
Au contraire. Had the Federal Reserve not bailed out Fannie and Freddie with $2 trillion in QE, those homes would have been foreclosed in a timely manner.
No. Again, I am counting on other readers to understand the point better than you do. Read your own link. The process dragged on, and the time expired because the States in question required the judge to sing off, which they did not do. You are trying to make connections where there are no connections.
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