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Hopefully the homeowners didn't spend any of their HELOC on imported stuff! The video didn't mention that the IRS is going to want their cut of your newly found "income" after debt forgiveness and cancellation. I'm not in the industry, but I think this is one hell of a Charlie Foxtrot for the crumbling nation called America.
I predict 300+ comments on this one. If wrong I still have my GOLD BITCHES!!!
Well somebody has to pay... and the little guy never bought politicial and regulatory insurance like the TBTF's and friends. Hey that could be a new financial product... Regulatory Default Swaps!
those "savvy" bankers are at it again.
bs the bankers are not doing anything this is just the government hard at work propping up the malinvestments they created making them worse and sending in their "regulators" in to further mess up thigns with their regulators fact is the left wing terrorist network set off a bomb just like in 1919 in wall street bolsheivick style this time inside the banks themselves after creating them through the gov forcing them to make bad loans "roiding" up "affirmative action" banking style and forcing banks small medium and large to give to people who would not pay them back to meet their illegal alien black and democrap occupied "urban" hellholes "investments" shakedowns its was Jesse Jackass Jackson and mad large insane scale and we are scarewed because of it scaaaa..rewed because of it. OH yea nd the Fed funded it with inflation throught the "treasury" and the fha/freddie/fannie. Nice scheme their Clintoon. The alinksyites who gave Arkansas Whitewater gaves us the entire "90's".
it's a start folks. credit card revolt. print out flyers on this site and paste on banks windows and ATMs. the site has some bucks behind them cause they have national tv ads on, that are pretty hilarous.
The IRS went after "debt forgiveness" during the S and L bailout and the "investors" who were promised debt forgiveness and forebearance took the government to court--all the way to the Supreme Court--and won--sooo I think they have their butts covered on this one.
The fellas at ThinkBigWorkSmall.com really have nailed several of the major screw-ups in the mortgage business. Normally, a bit of humorous and biting sarcasm...not the serious stuff found here.... /sarc :)
FREE money to the banksters? What else is new?
There is no such thing as free money and they are not "banksters" they low men on totem pole basically IC of GOVERNMENT policy and Fed res/New Deal controls designed to make everything worse and blame it on "capitalism" Fascism were the state fucks over business controls it and has it eat out of its hand bark when it is told to park and then blames it for what it trained and wants it to do.
Meanwhile, this clown (http://www.bloomberg.com/apps/news?pid=20601087&sid=aKGZkktzkAlA) thinks that Blankfein's bonus is a result of 'free market'.
Of course there's that sticky detail that athletes don't get their millions by fleecing trillions from taxpayers! How can so much stupidity fit in one head? I think Seagate or WesternDigital should study such compression techniques.
Panty-waste-ass-clown to be more specific.
That's bloody maddening!
Saw this one a couple of days ago. I didn't forward it on at the time but think I should. Most regular people (including me) can understand that this is blatant robbery.
well ordinary sir, Steve Keen is asking engineers to become economists...please consider ;)
It would be telling if engineers got involved in economics and it became less complicated.
weeelll, the financial engineers
did become involved in finance
and it became not only more
complicated but much less
stable...i don't have any more
optimism for economics....
if you want to understand economics
study murray rothbard...
The relationship between engineers and financial engineers is sort of like the relationship between cowboys and unicorn cowboys.
Actually, the investment banks were hiring engineers, mathematicians, and physicists the past 10 years.
I seriously doubt that. Mathematicans yes, but the rest, no.
Mostly because a politician would request that they suspend their knowledge of physics - which is why these engineers should be given the authority to shoot any elected official that suggests the suspension of physics.
In America everyone is equal under the law. Unfortunately, some are above the law.
So we pass a new law making everyone 'above the law'.
We would save billions and create millions of new (formerly criminal) jobs!
Don't think this is the only underhanded deal the FDIC has done, check out the deal that Colony Capital struck with them. This was a sweet deal (not for the taxpayer).
This Ponzi is limited only by the creativity and brazen criminality (legal or otherwise) of the perpetrators, which includes any past or future beneficiaries. This is an important point because when the looting begins, many wannabes on the side lines are sure to be recruited (or self recruit) in an effort to pick up some loose change along the way.
Is it any wonder that psychopaths are running the joint? After all, that personality type is perfect for this type of "work" so who would possibly join the band of thieves if they still retained any moral character or empathy for the unwashed masses, also know as the tax paying sheep?
'When the looting begins' ? Ha ha ha!!!
Remember... psychopaths have almost always run everything. A conscience would just get in the way of achieving the former goal.
Come join the Wolfpack and dine on mutton.
I think sociopaths would be a more accurate description, but point well taken.
Sociopathy is just psychopathy when it joins a large group or gets involved in politcs or banking or corporate culture or religion, etc etc. Once a psyschopath is able to get a couple people to fulfill it's needs they like to try to get more and more people involved cause it's a challenge.
sociopath [(soh-see-uh-path, soh-shee-uh-path)]
Someone whose social behavior is extremely abnormal. Sociopaths are interested only in their personal needs and desires, without concern for the effects of their behavior on others. (Compare psychopath.)
psychopath [(seye-kuh-path)]A mentally unbalanced person who is inclined toward antisocial and criminal behavior. (Compare sociopath.)
It's time - where's Howard?
"I'm mad as hell.. and I'm not going to take it anymore!!"
It was on TV last night - oh the irony.
May the sheeple learn from this. Do not buy a house. Rent.
"...intellectually subprime..." Ha! My favorite phrase on ZH.
Yes, high praise indeed!
Are you sure she will be able to live upto this standard?
I'm sure she's being compensated handsomely to allow the plunder to continue, and why not, after all it ain't her money.
Although I think intellectually subprime is a bit over the top, I prefer, "intellectually vacuous"
From the dictionary:
1. without contents; empty: the vacuous SEC.
2. lacking in ideas or intelligence: a vacuous mind, M. Shapiro to a tee.
3. expressing or characterized by a lack of ideas or intelligence; inane; stupid: a vacuous career, M. Shapiro again.
4. purposeless; idle: a vacuous regulatory agency.
subprimeness applies not only to her
intellect but to her morals as
well....she is the uber money
whore....hope she dies soon...
We are witnessing last stage of decay, everybody knows the system is dead so they trying to get as much as possible before everything goes down in smoke. Do you remember "Zorba the Greek" and the scene when everybody just waits to loot after official funeral celebrations are finished?
Money doesn’t grow on trees for most of America. We sit down at our kitchen tables and write out checks to the phone-company, electric company, credit card-company, mortgage-company, and auto finance company every month. We clip coupons and go to the grocery store every week to put food in the mouths of our children. This is what our parents did before us.good articles: http://www.iamned.com
but you are just the little people
for whom the wealthy hold contempt
watch the arron russo interviews
and his comments on his ex-good bud
let them eat cake is too good the
Oh no, it's that "i am ned" crapola again. I thought we had seen the last of you. Please be gone with your BS posts, quite vacuous in themselves, just trying to get people to go to your site!
I suggest Zero Hedge become a virtual SEC. Report findings (like the above) here, then we'll use the virtual jury (comments section) to set a $ fine, consequences, and/or punishment for the accused (assuming they are found guilty).
While there may be no enforcement of this, eventually the mass media will look to Zero Hedge instead of the SEC as the justice seekers of our financial markets.
Carlito: What, you think you like me? You ain't like me motherfucker, you a punk. I've been with made people, connected people. Who've you been with? Chain snatching, jive-ass, maricon motherfuckers. Why don't you get out of here and go snatch a purse.
Yeah... I'll agree that Sheila Bair is an idiot. She's closing perfectly good banks, transfering nice assets at prices that are WAY too marked down. And there is nice upside for those of us playing in financials risk.
(Act, it was an easy trade to front-run on the way down too!)
The YO-YO of M-T-M is just a windfall for saavy speculators.
One of many ways banksters steal money. Housing de jour.
Housing prices have two more legs down, btw. Great depression numbers in 2 years.
Does anyone know of a weapon that kills people and is not humane and assures you of the person being in tremendous pain the whole time they are dying? That's going to be a HUGE market.
It's called a crucifix.
"I am an oil man"
I was about to say that we'll probably see medieval torture come back in a big way.
Although a 9mm to the gut would work, too.
subprime schapiro deserves a 50
caliber machine gun to the gut...
50 BMG is far too humane.
Call me a traditionalist, but I prefer tar and feathers.
tire + gasoline
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