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NACA's Bruce Marks Goes Postal At JPM Crony During Yesterday's Fraudclosure Hearing
Possibly the most incendiary moment of yesterday's fraudclosure hearing in which Bank of America and JP Morgan representatives saw no evil and heard no evil, even as Chris Dodd wanted it over so he can buy no evil with the years of accumulated lobby booty from said banks after his long overdue reign of corruption finally ends, was when the CEO of the Neighborhood Assistance Corporation of America, Bruce Marks, realized he has had enough of the endless lies and goes postal at the appropriately named JPM henchman David Lowman, CEO of Chase Home Lending. After Lowman says that "Chase strongly prefers to work with borrowers to reach a solution that lets them keep their homes" Lowman flips out. Watch the hilarious results here. This video is merely a harbinger of what happens when pent up anger at banker lies overflows. Luckily, this time everything ended peacefully, and to the banks' credit, the voice was promptly silenced. Next time, it won't be so easy...
Update: reader Jeff points out that this is not the first time Lowman got humiliated during a hearing. As can be seen on the clip below, after telling Dodd's partner in crime Barney Frank that his response to frustrated borrowers who are bounced around by JPM, is "come to me", he literally gets mobbed by people who "come to him."
We encourage all readers who may have a Chase-related loan to immediately send their query to Mr. Lowman, as per his advice. He can be reached at David.lowman@chase.com
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Not really. More pissed off people at Judge Judy's court than here. Odd they weren't all watching Judge Judy at that time. Must have been a rerun.
Oh, there's more to come!
So this guy's mad at Chase because he bought a house that was way too expensive for him and now he's in foreclosure? Sorry but it's hard to sympathize with someone who bought an overpriced item and wants the terms changed to "fix" his mistake. As dumb as suing McDonald's for being overweight.
We need stupid people to stand up and oust the ny banksters Harry. The enemy of mine enemy type stuff.
What they do when they make loans is to accept promissory notes in exchange for credits to the borrowers' transaction accounts. Loans (assets) and deposits (liabilities) both rise… Reserves are unchanged by the loan transactions. But the deposit credits constitute new additions to the total deposits of the banking system. Modern Money Mechanics, Federal Reserve Bank of Chicago February 1994
They never lent the borrowers any money Harry, welcome to the PONZI, population: some banks and a nation full of slaves.
I'm not defending the banksters by any means but to make heros out of dead beats who bought houses they couldn't afford at inflated prices, is bull shit.
And it's not like "secretly adding nicotine" to cigarettes targeting teens. These "adults" signed papers that they didn't read and now bitch and moan because they took out loans on zero down, interest only mortgages. Sorry, no sympathy for the banksters or the morons who fell for the scam.
Unfortunately Harry most people obiviously are not as intellegent or aware as someone like you. Lets just forget about all the fraud that happened surrounding the aquiring and securitization of these mortgages. Details...
I think we are on the same page: no sympathy for both. What I want people to understand, is the banks engineered this whole thing to happen. ARMS, INT Only, variable payment, etc was set up for the borrower to default. The intent was to get a borrower to sign, make a few years payments, then raise the payment, get them to default, and foreclose the property. The bank could then sell the property for a profit. The house of cards fell when home prices declined and now the banks are stuck on red when they bet black. They have to foreclose on properties worth less than they loaned. If the government would not get involved, I would have no problem with it. But to see them get bailed out frustrates me.
What is confusing to me is the protesting borrower not realizing the foreclosure is actually HELPING them. They no longer need to pay for an asset greatly overvalued, the bank know owns the negative equity property. I bet if a lot of these poople looked at it on paper, they would realize the foreclosure is heling them. Who wants to pay underwater? its like handcuffs. Unfortunatly, a home is very emotional and people get pretty wound up. and dont look at the facts and to the future. good day sir.
First, "bank [now] owns the negative equity property". While this may be true, they are not being forced to suffer the consequences of issuing a fraudulent loan? How is writing off the bad debt a punishment? How is being dragged into a comical hearing to get you wrist slapped punishment?
Second, "helping them', the home owners?? It may remove them of the burden of having to payoff the mortgage, but how does ruining ones credit by having your home foreclosed on help one? While the banks credibility has no taint? Fair? I think not!
I only see one side being fairly punished for their mistakes, and it is not the banking industry.
Thanks Harry for bringing a little reality to this rantfest. There is no doubt that fraud went on as mortgage backed securites were sliced and diced...but that does not excuse poor decision making by the home owner.
Yes the irresponsible homeowners should be punished, but the irresponsible bankers should get bailed out.
Harry, how did all that carpentry work at your place turn out?
Holy Fuck I agree with HarryWanger, I am going to the pub to get shit faced tonight the world is ending for me.
You didn't read my post, the banks did not lend any MONEY. The banks did not loan out their deposits.
a pink elephant few choose to recognize
Harry - "making heroes out of deadbeats" ?? An interesting stat would be what % of buyers failed because they lost a job, or other circumstance...
Surely a most wise man like yourself would have that statistic handy, right?
I am so sick of hearing people try to pin the bankers’ failures on others. As in, “…but to make heros [sic] out of dead beats who bought houses they couldn't afford at inflated prices, is bull shit.” But what’s worse, are the difference splitters who try to have it both ways saying it’s everybody’s fault. Good grief.
This whole mess is first, last, and always is entirely of the bankers’ making. As depositors and investors we hire bankers as intermediaries to sift and price credit risks, to manage liquidity and interest rate risk and to do so in a safe sound manner. That is, we expect them to behave like adults. Instead, these guys fu*ked up royally. Some by deliberate fraud, some because they’re incompetent, and some calculated they could get away with it. But regardless of the reason, the bottom line is they did not prevent the catastrophe even though it was precisely their job to do so.
The bankers made this mess, let them clean it up. Oh, and on more thing, after they’re done cleaning it up…they’re fired.
Are you pissed of at big tobacco for secretly engineering more addictive cancer sticks and marketing to kids? Or is the kids fault? Parallels could be drawn.
If a kid sees a cowboy and decides to play with a handgun and shoots himself in the face, is it the gun manufacturers fault?
I think its darwinism.
If a company performs research on human addictive mechanisms, develops chemicals to manipulate those mechanisms, incorporates them into their hazardous product, and purposefully markets to uniformed people, who's fault is it? Granted a pure darwinist would have no problem with that, survival of the manipulative I guess. If we lived on a pure darwin society, 99% of us would be dead or unborn.
"If we lived on a pure darwin society, 99% of us would be dead or unborn."
Ding-Ding-Ding
We have a winner.
Pre discovery and exploitation of Oil population was about 10-15% of what it is today.
SO what is the problem?
We could be a bio-tool that reorganize and concentrate elements for future collection by someone with a few more functioning brain cells.
Smoking will be many people's final pleasure in life. Why the problem?
@Harry Wanger
You have espoused the wrongs that our government has perpetrated against its citizens. Pick another one that you connect with.
Stand up and be heard and I'll be there, right with you. Otherwise, shut the fuck up. Right or wrong, the man had the balls to do something.
Go back and look at my posts, Harry. I freely admit that I do not have the skills to get something rolling, but would lend my support any way I can.
Why don't YOU get the fuck up and lead, smart guy (sincerely). I am waiting.
Your comments show your ignorance or if not ignorance your refusal to look at the facts or circumstances before making a comment. This guy was CEO of Neighborhood Assistance Corporation, he was not a in your words" a guy who bought a house that was way too expensive for him and now he is in foreclosure" so your wrong at the very base of your statement.
Second he got angry at the lie that JPM claims they are trying to work with people rather then foreclose. That is a bold face lie. They won't accept a partial payment from someone, they make people jump through the modification hoops and even though they meet all the guidelines won't modify loans but make more money by foreclosing. get your head out your arse and look at the truth.
Harry, while I don't disagree with the whole of your message, the "guy" as you call him, Bruce Marks, has been screaming since 2008 about the fraud, which has been whitewashed over by these hearings. You want to "kill" the people who believe the lies and subsequently overextended themselves fine. Exposing such a blatant mishandling of peoples money by the banks, even if those people are not on the bright end of the scale, is what we want right? Accountability is a double edged sword, but don't "kill the messenger" with the sword.
Be sure and let me know when the killing starts.
True, but who runs the boom bust cycle? Who is responsible for price stability? An individual has a choice to frequent McDonald's or not. Can I use silver coins to make purchases or do I have to use a dollar and the credit equivalent?
You know what's dumb? Continuing the charade that we have some sort of free and consensual trade left in our economy. You may technically have a point relating to caveat emptor, but as has been shown time and again, the fraud is systemic. Exposing and blaming people who are underwater on their mortgages, while perhaps correct legalistically and maybe even morally, will do nothing to solve the underlying problem, because they are not the ones holding all the cards, making the rules, committing fraud without punishment, and they are not the ones getting socialized bailouts from the government (i.e. the taxpayer).
However, the sort of protest that happened here is to be praised and encouraged, not because some underwater borrowers need a fix, but because the public-private oligarchic Fed/banking collusion needs to be exposed and expunged, violently if necessary. I expect to see more of this, and I expect to see crackdowns and backlashes by people who are either sympathetic to the corrupt system, or are part of it. Choose your side wisely.
We're past the point of expecting improvement by following the rules. We're into the territory of the ends justifying the means, in order to get back to a framework of rational means.
. gah...sorry, server was laggy
. deleted dupe
You mean like the sweet deal the banks got from the FASB, motherfucker?
those same stupid officers that are taking Marks out of the courtroom are most likely the people he is fighting for.....
Chris Dodd's mind is full of images of an upcoming Thanksgiving Feast spent gnoshing on caviar, crab legs, Caesar salad (freshly tossed, with real anchovie dressing), duck breast and turkey, with creme brulee prepared tableside.
After dinner, he'll host a few of his favorite contributors in his mahogany paneled study, complete with thick, lusty brown leather recliners and sofas, fireplace alit, glowing embers, robed in the finest silk threads, and enjoy a nice full snifter of Camus Jubilee and a fresh cuban cigar, as they all laugh heartily about MERS and reform.
He'll fall aseep in his recliner, skin moist and greasy from duck fat, warm by the fire, as his guests file out, and hired help gently take his brandy glass and still smoldering cigar butt from his supple hands.
The life of the Dodd.
You left off the (hopefully) painful medical procedures.
He also neglected to mention the hookers and blow in the Hot Chicks Room at midnight.
Dodd prefers his hookers and blow with his morning coffee.
Perhaps he's a homosexual like Barney.
And end like the movie "Sniper"?
"In times of universal deceit telling the truth will be a revolutionary act" George Orwell
Kudos to the man that was escorted out for allowing the truth to be heard!
Amen
That was good. Government whould be doing more of what that guys is doing. We have to pay. They should have to pay.
Well as Caesar used to say "when you're short of bread, give them a circus."
Kabuki Bukkake, as I oft say.
cheeky, seeing you on here brings me some hope. i thought the site went full ATS. hope you are well.
Less screamy more shooty please.
I love how all the Democunts are wiling to rip the heads off of little kids and shit down their necks for millions and millions in dirty money from these stepford banksters, all the while telling the sheeple this is what's best for you, I'm on your side. And the morons lap it up, take back their beheaded progeny, go back to the lobotomy-tube and say, "yay Democunts, they're on our side! If we could only get rid of those evil Repugnicants." Keep drinking the kool-aid, morons, and wonder why things never get better. We need a military coup to stop the circle jerking sharade...
The coup might happen sooner than we think.
I am ready for the junks. You doomers just don't get it.
2011 is approaching, what is looking to be one of the best years for the US post WWII
A Second Great Depression has long been avoided.
THE DOOMERS were WRONG! Warren Buffet was correct as usual. No "Double-Dip". IT DID NOT HAPPEN! YOU all were wrong!
BUT, the worst is behind us and is no longer visible in the rear-view mirror.
No "Second Event", No "Second Collapse", No "Double-Dip", No "Economic Ruin", NO Deflation, No Hyper-Inflation, No "Economic Armageddon", No "Financial Apocalypse". None of that.
Thankfully congress ignored the wishes of the dead-wrong doomer public and jammed home TARP to save us all!We the people even got a RETURN on that investment! GM is shaping up to be the same outcome!
P.S. Let us start the debate. I am ready to defend my position
Your nominal gains will be taxed away anyway. So get on the recovery trip, bro, because they're unrealized.
Premature speculation.
No, you don't get it. Asset reflation is not economic growth. I don't expect "another shoe to drope" just a slow road to hell, as growth deteriorates, social economic status becomes even more bifurcated, and we become more and more irrelevant militarily, economically, and culturally.
You can rant about how great things are because GDP is up 2 (incredibly inflated) points while China continues to eat our lunch. Even your Socialist hero George Soros knows their government is far more efficient than our unmitigated disaster. Hey, why don't you move to London and learn a thing or two about Socialism and the resulting ever-widening gap between the haves and the have nots.
Good luck, junior....
Nice troll.
I've got gold and silver - who gives a shit what your HFT driven stock markets do. Leverage the shit out of your house if you feel that strongly.
I don't leverage jack because I don't have to. I leave that to soap boxers like yourself. If you feel so strongly that 20K DOW will save you then put your money where your mouth is.
One thing though, just like Zimbabawe, when you cash out at 20K just try to buy something with your toilet paper.
Even beggars and hookers won't take your paper so if that comforts you - giddyup and go all in.
Holy shit... Even Kudlow is more objective
Man you are funny comrade. 43 million Americans on food stamps is a good thing. 17% real unemployment is even better. Almost 200 trillion in unfunded liabilities. Taxes with no place to go but up. The fed printing trillions of dollars just to prop up this junk. Federal flunkies that produce nothing making more than ever. Three year olds getting groped at the airports. Yep comrade America has never looked better.
"P.S. Let us start the debate. I am ready to defend my position"
What are your credentials? That would probably save a lot of wasted time - either way.
why does it matter? Since you all SLAM PhDs left and right, it shouldn't make a difference. Everyone is an "expert" on the web these days.
Pretty much every internet economic blog says we much brace for "Impending Doom", Collapse" and another Depression. Fine, say it all you want.
But what is the "Event"? I would like someone to lay it out. TARP worked. Bernanke isn't causing any inflation. Interest Rates are still at record lows and earnings have never been better.
If we were in danger and our doom was impending, this would not be the case. Sure, anything can happen but from where I am sitting the worst is far behind. Slow growth until 2012. In the mean time consumers will continue to SCRUB AWAY at their balance sheets and should be sufficently delevered by 2012, or at least enough to return to sustainable economic growth.
The dollar isn't going to collapse, I promise. No Deflation nor Hyperinflation.
It seems everyone wants some BIG EVENT/Collapse so that the bankers will "Get theirs". That is not likely to happen at all. You are stuck with this system, but are always free to leave anytime you wish.
Remember this?
Remember this? Ron Paul predicting a "Dollar Crash and Blood in the streets"
http://www.youtube.com/watch?v=8h8NlNvlgnw
Guess what? DEAD STINKING WRONG! His son is now slowly getting himself into a pickle and cannot make up his mind if he will stay true to his libertarian roots or become a neo-con hack.
Hey comrade. Do you shop for groceries? Do you pay utility bills? I can tell you despite what your glorious department of truth tells you...inflation is out there. Your beloved government bailed out the bankers and the unions on the backs of the poor and disappearing middle class. Hey comrade....do you think it is a good thing that millions of Americans are unemployed for longer than two years? Your puny returns that you get (if any) will be taxed away to support them.
"TARP worked."
Hahaha! You are trolling for fun! Fair enough.
"we are stuck with this system, and are free to leave". Shouldn't you be moderating some drivel at Huff Post?
As long as you "promise," I guess we're OK then. Thanks, I feel better.
LOL. Yeah I remember when Bush, Paulson, Bernanke, Timmy, and several others told us that market fundamentals were sound and realestate might have a slight correction, but that was a long time ago. 2007-2008
Ray Charles sees inflation.
At least you altered your "2011 post WWII boom year" to "slow gowth till 2012"... And your dollar stance of "I promise" is reassuring. Is this what you meant by "ready to defend my positions?"
You lost me at "Tarp worked"!
Well if it's all hunky-dorey now we can mark-to-market, right?
Yeah, that's what I thought, bitch.
where is your link on how to turn $100 into a million? I missed it.
LMAO +100
0,000
Unguard. 30% US unemployment by my book, but I will give you 22% at the very least. Europe is no better. You are quoting some rich dude and you are using metrics of equities to claim recovery? The prices of goods for oil and all energy has skyrocketed and the working people are having trouble affording them, this because of weak currencies and a diminishing supply of finite resources (oil/gold). The currencies are weak because the governments are holding such a large debt that the creditor nations can not fund them anymore, but they have to hold up the system or it crashes and burns. This while the Federal Reserve Bank, which is a private institution, monetizes the the debt at an unprecedented level, as if monetizing debt needed a precedent. All the while modernity declares bankrupcy, and becomes homeless while bailing out private corporations; private corporations which serve no benefit to our society. Further they are a burden. We are on this parallel, and you talk of world recovery? Ha!
U6 at 17%, 42 M food people on food stamps. Declining wages and purchasing power. Debt overhang that will take another decade to clear, stagflation being best foreseen outcome. Confidence smashed and the world now hates the United States (with financial advocation to silence the rape victim). Yep, it is all just grand. NBER declaring the recession over doesn't mean a W shape is forming since 2008 (with the 1st half done).
Now I dance until the music stops and armageddon is something I consider world war. Doesn't mean I am not a realist in how I decide to react to events on the ground. I sleep fine at night.
Do a search on Seeking Alpha and iThinkBig.com. See if I was wrong in my forecasts since 2007 when I started commenting. Now if 2011 is the best year in the USA since post WW2 (1945) let's make a wager. $1,000 will do. Pick two areas of analysis as indexes and I will pick two. If all four are better in aggregate by December 31st of 2011 I will wire you $1,000 and publish it here on Zero Hedge with my head bowed. If you are wrong you do the same. Are you in? Come, let us put our money where our mouth is. Here is my email: jrines@ragingdebate.com and my phone is 603-953-3388.
"Come, let us put our money where our mouth is."
A man who takes action. My compliments to you, sir. And, I will match your bet if this person decides to accept. I am uncomfortable posting public information in this particular forum, but I will be watching for the outcome and will make arrangements to match bet if we lose. You can consider my word as my bond. And it would be my pleasure to have you keep the entire bet if we win. Cheers.
EDIT: ZH knows how to get in touch with me.
Debate? How? By the evidence you have presented-you fell on your own sword. Milestones
"I am ready to defend my position."
It would appear that your "position" is facing the other direction and grabbing your ankles. You must work in one of those cubes at the BLS or Commerce Department. I distinctly smell ham... boiled government ham.
WTF are you doing here? This is not some propaganda site. Go hang out on the Cramer blog site please.
Go away and read this: http://www.shadowstats.com/article/hyperinflation-2010
If you agree with this paper, please go away and cry. If don't agree with it, pull your bottom lip over your head and swallow as hard as you can.
I think the TSA labia touchings are pissing more people off at this point. But keep it up, bitches. This is boiling over.
"They will do our recruiting for us."
- Me
Call me old-fashioned, but I thought that our leaders derived their authority from the informed consent of the governed. That's not what appears to be going on in this video.
This horror show should be called "Night of the Living Dodd."
Evil Dodd II
That's right, who's laughing now?
Dodd's arrogance with the "officers will remove you from the room" comment is notable. These alpha-holes think they are untouchable. They know the people are getting tired of their chit and they are preparing for it.
google the Ventura interview on the bunkers under Denver International Airport. The term "selling seats to buy silence" stands out in that video.
Something really big must be coming down the pike if they're throwing up the royal wedding distraction.
"Tell your story."
There has never been better advice.
Dodd is a fascist and wears an asshat fedora. Dodd is a bankster because he associates with them. The man (and others) testifying should be sent to jail for years and years, not to mention Dodd for Financial Treasion. Help take them down. Buy as much silver as you can afford on November 22nd. If you get it before then you are on the front line.
They can give us lies, but they will not give us freedom. We must get it for ourselves. Now is the chance, while the banks are weak. Buy silver.
I wouldn't worrry so much about this. Some one there is probably gonna go postal by the looks of things.
20 less scumbags makes the world a better palce for 5 minutes.
That is 140 per hour or 3360 per 24hr.
That is sustainable.
Life can be good again?
Why weren't the shoes flying at this motherfucker?
As for Dodd - I'm reminded of George Wallace's comments about protesters - "He should be under a good jail somewhere"
Unless there was an M67 tucked into the shoe, don't bother.
If Bruce Marks is the messenger ... the message is going to get lost in the crazy.
He is the pigment-challenged attention whore/hustler a.k.a. the "white" Jesse Jackson/Al Sharpton.
Listen doomers--cut the whining already about the banksters slamming the ignorant. This shit has been going on for centuries. The problem in the USSA is ignorance not corruption. And unfortunately that aint gonna change anytime soon.
If you want to do something positive, buy the GM IPO tomorrow. GM is one of the best companies in China. Great two pump and dump.
I would certainly never defend the ignorant while you have your foot so firmly planted over their head. Onward to the next pump and dump! Survival of the fittest, bitchez! Rule Brittainia!.... oh sorry, wrong banksters.
Here is the kind of stories that need to happen ... every day.
Zero Edge ... needed to make this happen ... FOR REAL.
Now let’s hire more people and go after the big boys.
http://online.wsj.com/article/SB10001424052748703628204575619000289073686.html?
U.S. Sets 50 Bank Probes
The Federal Deposit Insurance Corp. is conducting about 50 criminal investigations of former executives, directors and employees at U.S. banks that have failed since the start of the financial crisis.
The agency responsible for dealing with bank failures is stepping up its effort to punish alleged recklessness, fraud and other criminal behavior, as U.S. officials did in the wake of the savings-and-loan crisis a generation ago. More than 300 banks and savings institutions have failed since the start of 2008, but just a few have led to criminal charges being filed against bank officials.
In an interview, Fred W. Gibson, deputy inspector general at the FDIC, which works with the Federal Bureau of Investigation to investigate crime at financial institutions, said the probes involve failed banks of all sizes in cities across the U.S. The FDIC is also ramping up civil claims to recover money from former bankers at busted lenders. He declined to identify any of the people or banks under investigation.
So far, the FDIC has filed just two civil lawsuits related to recent failures. The agency is seeking $300 million in damages from four former executives of IndyMac Bancorp, the Pasadena, Calif., lender that sank in 2008. Eleven former directors and officers of Heritage Community Bank are being pursued for $20 million in damages related to the Glenwood, Ill., bank's collapse last year.
The few criminal prosecutions of failed banks so far include Integrity Bank, which opened in Alpharetta, Ga., in 2000 and was seized by regulators in 2008. In July, two former executives pleaded guilty to fraud-related charges.
Prosecutors alleged that the executives helped the bank's biggest customer use a construction loan to buy a private island in the Bahamas.
If their target is only execs at banks that failed, then clearly the crime will be that they were simply heading banks that were not TBTF, right?
is one of them Broadway?
who says we all wanted it to end peacefully. I really wouldn't mind reading about all of these bastards being found face down somewhere.
Too private; to really drive the point home, they need to face justice in the light of day.
To Harry and the others who apparently swear the cart goes before the horse:
This has nothing to do with 'deadbeats,' 'irresponsible borrowers' or any other pejorative term you want to label those taking out mortgages with.
Of course there was a ton of irresponsibility, dead-beated-nish and even out and out fraud on the part of some borrowers - but not the majority I'd argue.
The majority truly did get sucked into the myth that their homes would increase in value forever. Hey, here's the proof: The firms buying MBS pools, like Lehman and Bear, hand over fist, had developed internal models that projected 6% to 8% home appreciation rates in perpetuity, and they were the so called 'experts of finance' regarding this area.
No, Harry, what this really has to do with is the rule of law and the core constitutional issues relating to real property rights.
In law, a fraudulent act by one party often negates the obligation of the other party to the contract to fulfil their original intent. But it gets worse than that.
Because these mortgages were not only very suspiciously, at one point or another, conveyed by MERS, without proper recordation taking place, but they pooled and synthethized, often with each individual mortgage being minced into oblivion a thousand times over and with its segments strewn over a thousand different MBS pools, processed through MERS each time, thus breaking the legal chain of title.
So, this is about whether we toss out a century or more of title law and real property law, and excuse non-compliance on the part of banks and others conveying mortgages, or whether we choose to continue to strive and exist as a society that is about laws, and not men or corporations, first and foremost.
(Yawning)
Those hearings are pure circa for the peasants to make them think .gov can do something to solve the problem. Banks and corrupt status quo will keep Ripping Off the small people until the small people do something besides buying IPads and Prozacs.
'Damn fuckin' peasants!' Thought the fascist Mr. Lowman. 'Ugh, one of them almost touched me!'
Why does Chris Dodd remind me of the Nucky Thompson character on Boardwalk Empire?
Dave Lowman has a face that just screams Bitch Slap !!!
Dodd speaks, "those that are not authorized to speak will clear the room". jail, pych hosptials, or worse?
If anyone objects to the failure of banks that securitized, bundled and sold mortgages they didn't legally own (or at least weren't bona fide purchasers of), they are a damn terrorist, and will be targeted for elimination by The Ministry of Truth & Justice, Inc.
LOOK>>>>>>> Someone in this country has balz!
wow.
Don't fret TV viewers, this is just a weird hippie at a rally. You will NEVER see him again.
...back to your regularly scheduled reality show. Look, Willow Palin is on facebook!
Signed, The Major Networks.
Okay, we're going to get this hearing under way now, so will the respondent please rise and raise his right han......
....Hey, look everyone!
Prince William is using Lady Di's ring, and Bristol Palin isn't getting such great reviews on her Dancing with the Stars performance last night, says TMZ!!!
He needed to have with him that #uckin Brit guy - Nigel Farage that you had on 2 months ago. That dude went completely #uckin apeshit and ripped the President of the European Parliment and any other tool who got in his road.
Try bringing Nigel Farage to your next government meeting.
remember clif's clue?
"So now let us talk dams. And rivers and reservoirs."
Yes. Good recall...
Tipping point is under way... by 12/4, approx 40% of release language will have dissipated... something is cooking and about to blow...
Well, Bruce Marks makes a pretty straightforward demand. Let the forclosurees speak about their experiences. Seems to me JPM/Chase should provide a list of those foreclosurees and a random sample polled and/or invited to speak instead of accepting Lowman's prepared remarks at face value.
In fact the hearing should not even start until a random sample of homeowners and forclosurees have been interviewed.
Bruce Marks's antics will no doubt be downplayed by JPM et al as a deranged protestor, but at least he got the blogs posting and people noticing.
Mr. Marks may have just tipped the point with just the proper mix of righteous anger & nonthreatening aggression to attract peeps across the spectrum.
Where did Harry Wanger go? Fuckin' guy.
Steve Jobs needed a hummer.
Barney Frank reminds me of Fred Flintstone.
Just sayin'.
except Barney likes ...butt buddies.
He gets a lot of ass from hired young guns right in his Congressional Office. The man has no shame, whatsoever.
What a total slob and example of extreme douchery.
That's funny he looks a bit more like Barney but only if he was servicing Fred.
http://www.youtube.com/watch?v=NGZenzfg3A0
It's all a setup. They don't want payments, they want people to default. They have the downside covered when they bought most of these morgauges. That is the whole purpose of "loan modifications", you have to be late, then they start the foreclosure on your ass. This is just like what happened in the 30's, instead of calling in the loans, which would cause the average american to go ape shit, they set you up, acting like they are trying to help you when they are trying to make you default.
"they want people to default."
and why would they want people to do that? could it be to take ownership & control of the underlying assets? (and i'm not talking about the house)
nah, it couldn't be that.
I trust Bernanke when he says that the state of the economic recovery is unusually uncertain. That's why he is doing QE2. We are not out of the woods yet and my guess is that because of this the current market "correction" could be a bit more severe than we would wish. There is another line in the QE story that people don't pay attention to: QE is our best weapon in the trade wars. The proof is that it scared all trade surplus countries and they unanimously attacked US. It was a pleasure watching the leaders of the mercantilist Germany, China, and Brazil barking helplessly at Obama at G20.
I'm in the ZH minority when I say Bernanke, Geitner (even Paulson) deserve plaudits for finding a way to manage our economy out of a disaster - the economic equivalent of turning hurricane Katrina into a severe tornado just before making landfall. Apparently few people remember the dark days of two years ago. Warren Buffett does.
In a letter published by the New York Times, Buffett wrote that all corporate America's dominoes were lined up and were ready to topple at lightning speed in the aftermath of Lehman Brothers bankruptcy in September 2008. Buffett praised the U.S. government's efforts to bail out the economy during the financial crisis two years ago, preventing an economic collapse.
No one has done a perfect job. Even Babe Ruth struck out once in awhile. That doesn't mean he was a lousy ball player. The economy is coming back and eventually will be strong again. To paraphrase nominee Reagan, "If you think you were better off two years ago . . ." - well, you not only slept through Econ101 but every other course you took.
The only thing they deserve credit for is keeping this ponzi scheme going as long as it has. Our system is wholly corrupted to a point where Bernake is asking the institutions how much money they need - all the the backs of the labor lien on taxpayers. Not only is this unconstitutional and profoundly illegal, it is pure fascism.
Like I said, time to unite and stop paying income taxes. FEMA camps or not, they can't hold all of us back.
ROTFLMAOF......... best ID I seen in a while. Welcome aboard, Haywood
I hope this is sarcasm. If not please shut up and never post again... I don't want to vomit.
Did you catch your theme song yet?
http://www.youtube.com/watch?v=SPPvSiFLyXA
Not to go too far afield, but is there a single person here who doubts that if the banks had to mark all the shit they have to true market value, that we would see at least 1/4 and maybe as much as 1/2 of banks domiciled here be deemed insolvent based on the numbers?
I really don't think the banks want the underwater homes back.
I think they're angling for some sort of massive bailout 2.0 that will save them from this toxic sludge and the deluge of lawsuits pending and about to strike from MBS investors who bought things from the banks that the banks technically didn't own.
We need more civil disobedience. It gets people's attention. Hopefully, we will see a lot more of it.
I am looking foward to participating in some form of protest against the. Fedup with the fed and gangsters
The great thing about America is that you are completely free to leave anytime you wish.
After a year of hearing DEAD WRONG doomers whinning about the impending "Economic Doom", I am convinced this all about wanting to see the bankers "hang". Look folks, nothing is going to change. A double-dip has been avoided. We will just have slower growth the next few years and SO WILL THE REST OF THE WORLD.
Thanks again, Cramer.
How has a double-dip been avoided exactly?
I got a song for your broken heart, jack:
http://www.youtube.com/watch?v=SPPvSiFLyXA
LOL, oh we can leave all right. But our money can't, and changing citizenship is a bitch too.
I can tell you one thing - we haven't avoided a double-dip on this here blog thread.
I am not a citizen, I never was a citizen, and I never will be a citizen. Since I was 4 or 5 years old I recognized
citizen == slave
I will have no part in that. I am a free, sovereign, independent, fully real and natural sentient entity. I am not a fictitious entity, I did not sign the constitution of the USSA or any state, country, city or other fraud...
And I sure as hell "do not consent to be governed" by anyone, anywhere, anyhow, period... most certainly including the current predator class.
Why do humans accept and comply with these endless fictions they have nothing to do with?
@ gloomboomdoom
Do you take the bet or not? 2K against your 1k says you are wrong. Do you need time to raise the scratch or are you ready to go?
dupe.
dupe.
jesus.
Dupe-Dupe-Jesus....is this some kind of stupid bible camp game?
"Disobedience is the true foundation of liberty. The obedient must be slaves." -Thoreau
Not nearly enough "disobedience" IMO. All the lawlessness and Constitutional disobedience is coming from the Criminals in Congress, The Commerce Department , SEC, CFTC, private FASB (after Franks and Commerce got through with them), and the "Justice" Department.
When the bankers travel by air the TSA must have a real challenge groping their junk, because it appears they would have to compete with Franks and Dodds' tonsils, which apparently are permanently affixed.
Agree. We need Dexter.
WOW! A man with his face not buried in Steve Job's pieces of shit.
Good for him.
*
When do the executions start?
ATTENTION ZH WEBMASTER. FLASH SUCKS ASS. GET RID OFF IT. HTML 5. ITS AN EASY FIX.
good on you gloomboomdoom, you're right, there is nothing wrong here,
the Fed and the USA Gov have everything under control, and soon everything will be like it was before. Don't forget to leave out a good scotch for Santa.
I'm watching this right now, It's very painful to watch these idiots saying " we need to change the system as a whole...so we end up getting out better then we were when we went in"
Fucking disgusting
"Life , Liberty, and the pursuit of property" -Jefferson
I guess thats out the window.
"Life (maybe) , No Liberty, and absolutely no pursuit of property"
Fixed that for 'ya.
Why does there have to be so many postings about these icky confrontations, people being so mean to that poor man in the suit. Why can't we just talk about how great Bristol Palin did on "Dancing" this week?
NACA - wait a minute, isn't this the dude who said the banks were wrong to be choosy who they lent to?
Whenever I see "activist" on a resume and a bunch of matching t-shirts, I get a bit suspicious.
Not that I have any sympathy for pudgy-pink being made to squirm bankster.
I've always wondered why you never hear of anyone, um, "going after"* the most unethical, canned-text-mouthing, arbitrary-salaried banksters. There has got to be a lot of hatred of specific execs by unstable ex-employees, the disgruntled, the screwed over. (Incidentally, someone's got to put the "risk" back in finance, no?)
(*"Going after" refers to a refereed fencing challenge.)
Let's hope that is a dam that is about to totally freaking break wide open, and drown the predator class.
Otherwise, welcome to permanent worldwide slavery.
Today is my first day of graduation from Capitalist class.
I realize we are living in a merchant law society, in other words a Capitalist system, where outright cheating, lying, and fraud are baked right into the Uniform Commercial Code.
I suppose this is all for the Good of Humanity. So we are obliged to compete from the cradle in a world where a certain class of society has all the knowledge and J6P has no information and gets his cash and credit stolen from him on a daily basis.
I finally found some great notes at the St Thomas Business School on the UCC. These are accessible and readable for the average non-lawyer who needs an in depth discussion on the UCC.
Here is the Overview from Article 9 at their site:
In the past debtors who did not pay their debts were often sent to prison, exiled, sold into slavery or even put to death. At times even the debtor's relatives were punished. In the United States, there has been a philosophical shift to give more protection, at times, a fresh start. http://courseweb.stthomas.edu/law/classnotes/ucc9.htm
I suppose we should all be very happy.
Why yelling at the Bank Cartel will get you arrested, but calling the President "you lie" during state of the union doesn't?
It shows who is in control.
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