dagblog - Comments for "The Mortgage Fraudsters And Their Get Out Of Jail Free Card"

$5B? #costofdoingbusiness...

jollyroger — Sun, 17 Apr 2016 22:59:22 +0000

In reply to The Mortgage Fraudsters And Their Get Out Of Jail Free Card

$5B?

#costofdoingbusiness...

Which does not divert us from

jollyroger — Sun, 17 Apr 2016 22:54:42 +0000

In reply to I think that we are seeing

Which does not divert us from marveling that these behemoths are so ferkacht that they can't even fake up a credible scenario whereby they do anything but crater the general economy in a set of worst case assumptions.

I think that we are seeing

jollyroger — Sun, 17 Apr 2016 22:49:26 +0000

In reply to Didn't watch the debate but

I think that we are seeing the ramifications of lodging with an administrator the discretion to designate one a vector of "systemic risk". Properly deployed, this authority can box a prudent board of directors into divesting enough that you avoid exposure to the remedial measures, of which the filing of a credible " living will" is just one.

Based on a may 2006 housing

jollyroger — Sun, 17 Apr 2016 22:46:58 +0000

In reply to Bernanke is now trying to

Based on a may 2006 housing peak, bernanke was technically entitled to be stupid( if being stupid means not seeing a year and a half out) for a while. Donald trump started a mortgage company AT the very peak..

ETA.rechecked article date. Bernanke pretty stupid .

Didn't watch the debate but

Oxy Mora — Sun, 17 Apr 2016 21:51:39 +0000

In reply to I have to admit, I'm a little

Didn't watch the debate but what I read was HRC said wait it out, give the banks a shot to correct the wills, and act accordingly. The reason I like this is even if it's a bad living will and fails again, it will still be a starting point. And anyone who thinks that breaking up the banks is a short, manageable process is dreaming. The fact that we are even to this point is a huge achievement, given the obstacles, and is evidence that something very significant did in fact happen, called Dodd Frank.

I have to admit, I'm a little

Michael Maiello — Sun, 17 Apr 2016 21:41:56 +0000

In reply to The Mortgage Fraudsters And Their Get Out Of Jail Free Card

I have to admit, I'm a little confused by recent events in this sector as Goldman Sachs failed its "living will" test, required under Dodd Frank. As I understand it, this actually does give the government the legal authority to... wait for it... "break up the bank!"

It may be that I am just wrong about that, though, because Bernie certainly didn't cite it as a convincing answer for "how are you going to do it?" in the Brooklyn debate, and neither did Hillary bite when asked if she would take this as a sign that she can and should call for Goldman to be broken up.

Further, I really believe that breaking up Goldman Sachs would make all of Goldman's shareholders, including current management, very much richer. The asset management, investment banking, merchant and commercial banking divisions there are likely worth more than the whole thing put together.

Maybe he had an inkling the

NCD — Sat, 16 Apr 2016 04:32:56 +0000

In reply to Bernanke is now trying to

Maybe he had an inkling the economy wouldn't handle the housing mania, but secretly fantasized being the economic superhero who would save it if it crashed...economists are like Houdinis, no matter what the predicament, they always miraculously escape unscathed.

Bernanke is now trying to

Oxy Mora — Sat, 16 Apr 2016 00:08:59 +0000

In reply to Bernanke: There's No Housing

Bernanke is now trying to make amends--kinda, that no one understood the phenomenon and the risks at the time. I cut him a little slack in that his corrective measures worked---kinda.

Ramona you 3%? But the fine

Richard Day — Fri, 15 Apr 2016 23:21:37 +0000

In reply to The Mortgage Fraudsters And Their Get Out Of Jail Free Card

Ramona you 3%? But the fine print told them that that percentage rate would increase to 10%

So 'they' might have a monthly 'rent' of 650 bucks.

And then, six months later, these fine folks would find a monthly 'rent' of $1300/month?

Or maybe 'they' began at $1300/month and 'they' ended up with $2600/month.

The repubs skip . this stuff.

But the big money saw that they could sell land based mortgage promises world wide and make a bundle.

Collateralised loans were worth more than uncollateralised loans.

THEY KNEW IT !

Those in charge, knew damn well what was going on.

So the poor lost their homes and investors (including pension 'trusts); lost everything.

And except for a few (including Maddof, etc) escaped prosecution.

( It appears that I misspell collateral, why not, I am a loser? hahahahah)

Bernanke: There's No Housing

NCD — Fri, 15 Apr 2016 23:09:27 +0000

In reply to The Mortgage Fraudsters And Their Get Out Of Jail Free Card

Bernanke: There's No Housing Bubble to Go Bust

Oct. 27, 2005

Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve. U.S. house prices have risen by nearly 25 percent over the past two years..... he believes the economy could weather a housing slowdown....