dagblog - Comments for "Mortgage chief to Prez: "Drop dead. No reduction for underwater loans." Will August bring a recess replacement?"

Krugthulu becomes shrill

jollyroger — Fri, 03 Aug 2012 20:25:52 +0000

In reply to You don't have to convince

Krugthulu becomes shrill today. He would appear not to concur with Yves Smith in re:Obama's sincerity. (or maybe he's just more polite)

You don't have to convince

Michael Maiello — Fri, 03 Aug 2012 20:03:34 +0000

In reply to Fair enuff. But the costs of

You don't have to convince me, JR!

"(Obama)has determined he is

jollyroger — Wed, 01 Aug 2012 21:47:49 +0000

In reply to Mortgage chief to Prez: "Drop dead. No reduction for underwater loans." Will August bring a recess replacement?

"(Obama)has determined he is well served with DeMarco in place as a scapegoat." Yves Smith

Fair enuff. But the costs of

jollyroger — Wed, 01 Aug 2012 18:59:05 +0000

In reply to My understanding is that this

Fair enuff. But the costs of foreclosure and subsequent long term vacancy of a property are arguably greater than the hit to principal in a timely rewrite of the mortgage. Particularly with ten year money at historic lows. in any case, having the stated wish of the administration flouted is bad visuals. Bankruptcy cramdowm of first liens would have been better, but the banksters headed that off at the pass

My understanding is that this

Michael Maiello — Wed, 01 Aug 2012 15:59:48 +0000

In reply to Mortgage chief to Prez: "Drop dead. No reduction for underwater loans." Will August bring a recess replacement?

My understanding is that this is Congress's fault. Congress has demanded that Fannie and Freddie pursue a contradictory dual mandate of reducing losses to taxpayers while reducing foreclosures. A wiser move would have been to take the hit now and use the Treasury as it must, in order to restore the markets. But that's not what they did. Fannie and Freddie are stuck playing by a no-win set of rules.

Evidently, you don't know who

Resistance — Wed, 01 Aug 2012 13:56:28 +0000

In reply to Mortgage chief to Prez: "Drop dead. No reduction for underwater loans." Will August bring a recess replacement?

Evidently, you don't know who De Marco is?

Krugman weighs in: Dump him!

jollyroger — Wed, 01 Aug 2012 10:22:55 +0000

In reply to Mortgage chief to Prez: "Drop dead. No reduction for underwater loans." Will August bring a recess replacement?

Krugman weighs in: Dump him!

sumpin like that, yeah. I

jollyroger — Wed, 01 Aug 2012 03:48:38 +0000

In reply to You are suggesting Obama

sumpin like that, yeah. I could distinguish the sat night mass on cui bono grounds. also, fuck fox. let them bray that middle class victims of the housing bubble are finally seeing some relief. that said, I take it you wont be fading me. so far, to paraphrase Mencken, no one has gone broke shorting Obama's stones.

You are suggesting Obama

NCD — Wed, 01 Aug 2012 02:47:09 +0000

In reply to Mortgage chief to Prez: "Drop dead. No reduction for underwater loans." Will August bring a recess replacement?

You are suggesting Obama employ a Nixonian Tuesday night massacre to fire the Fannie Mae guy, and then appoint a partisan socialist hack to give hard earned 'Muricans tax money to worthless real estate gamblers and strawberry pickers who lost their bets on gaming housing? Fox News would love it.

That would be a defining moment alright, to put Romney in the White House.