Hold on while I turn the volume on my 70 inch HDTV that I bought on my HELOC down, and delete the messages from the credit card company bill collectors.
I guess the personal responsability meme doesnt generate many laughs
If the bankers and corporations get bailed out and can steal outright why should anyone pay any bill?
If we all follow the example of government, banks, and people like Corzine and Fuld we would run up the credit cards, not pay the mortgage or any other bills, and get to keep the house and goodies.
No matter how you analyze it, when you lay everyone's shit out on the table, the biggest pile sits in the banker corner. The same corner where all the bailout money went and all the Bernanke welfare still goes.
I also happen to know a young family that fell into the HELOC trap. They have busted their hump to pull through and they are doing fine. But the processing shitbags at the bank tried very very hard to bury them, because the math works much for them to throw people on the street.
So when I read about the man who committed suicide because Wells Fargo mistakenly put him and his family into default and refused to admit their mistake, I don't laugh.
I'm not going to follow the narrative the TBTF bankers want me to follow simply because I know who the biggest gang bangers are.
Those "deadbeats" can't make their payments for a couple of reasons. First, they bought the house, foolishly, after the bankster thieves and liars pumped up the real estate market to unreal heights so they could ROB everyone on lending equity into a market they KNEW was going to crash and collecting huge fees and salaries and bonuses and then knowingly dumping it on countries and the taxpayers. Second, the bankster fuckers crashed a viable economy so the "deadbeat" with 5 kids a wife and a dog lost his job because now some Chinaman does it for a buck a day. The bankster PRICKS destroyed this country so they could have a yacht and a house in the Hamprons while the carnage is counted in the millions with untold suffering and children hungry. The bankers spread disease and pestilence throughout the world and deuchbags like you unwittingly vouch for them. ASSHOLE.
You could getr a job as a regulator. All you have to say during your "investigation" is "hey, shit happens. Who knew?" So in YOUR world, the world WIYHOUT the tin foil hats, no one is responsible and everyone didn't mean for shit to happen it just did and gee they had no idea as they sail their 300 foot yacht around eating caviar on toast points. Are you fucking stoooooooooooopid???
you are right. almost all of the foreclosures were/are(although technicalites of the law are a legitimate protection from abuse of the law,i.e., establishing ownership of the mortgage) rightfully prosecuted. the problem with your perspective is the placement of the cart and horse. i can personally attest to the fraud committed by the banks to approve normally unapprovable mortgages. in my case, i gamed the banks and won having sold my last house in 6/2006. in most cases, even among others who were flipping houses, the fraud caught them. the vast majority of these people just wanted to buy a house to call a home. if the banks had followed any semblance of due dilligence the vast majority of foreclosures would not have occurred because the mortgage applicants would not have been given mortgages and the boom would likely not happened as the run up was a function of the artificially created demand(fraudulent mortgages).
this is not an argument for mortgage forgiveness. i would prefer a harmless walk away, no recourse, no credit hit, no public record. the banks scoop up the pile of sht they created with the task of disinfecting it themselves.
you're missing the point. Prudent lending procedures were INTENTIONALLY ommited. The banks would have lent to a cadaver if they could have, it was all about fees, salaries, bonuses and getting filthy rich before the whole house of cards collapsed. And they knew the end game would be the business model of the Fed Reserve which is dumping the debt on the taxpayers and indebting entire nations so they can control the political process and take over countries. It was a win/win for the banksters. All went according to plan as it continues to with the imploding of countries and the fed and the ECB are in complete control of the destruction that is exactly what they want.
You are just barking at the wrong critters. I spend my time barking at the critters that fucked up the title and mortgage recording system by means of blatant fraud. The ones who beg and grovel for TBTF handouts while they hammer everyone further down the food chain.
My position has been consistent throughout, if you want to hold people accountable, hold everyone accountable. Don't blame the little guys while you are handing the loan pimps a mulligan.
May in respect to percentages you are right, but try and get something arranged or a resolution to an issue and you discover no one has authority, there are no names to call of people who are reachable and so on.
Customer service is dead, for a reason.
It pretty well negates your comment for the people who are having difficulty due to job loss, medical costs, whatever, they are basically screwed.
Ultimately, responsibility lies with the mortgage lenders. It was their job to screen applicants to make sure they either weren't borrowing more than they're salary could handle, or were financially capable of paying back the mortgage.
If the banks or Wall Street make it possible for anyone to borrow money to buy castles in the sky without any background checks then people are gonna line up around the block.
Wall Street knew what it was doing and pressured Congress to pass laws making it easier to lend money to circumspect people, ala sub-prime and alt-a.
But, of course, this is all so 2009-2010-2011 and has been covered extensively by the gods of ZH.
In other words, your a little late to the "people should be responsible" party. Those of us that were around during that time were holding barbeques, keggers, and bong parties blogging about it, where were you?
I guess the personal responsability meme doesnt generate many laughs…
In case you haven’t noticed, amusement is what’s left when the rule of law is flaunted by those “responsible” for its administration.In your recent education regarding bifurcation you should’ve noted it subverted the law and the individuals whose responsibility it is to oversee their subordinate’s activities were too far removed from the process to claim responsibility for their criminal conduct.
Lawmakers claim no banker would’ve intentionally allowed fraudulent activity to occur in their firms as it didn’t make sense.We now know different and in addition to the business leaders that raped their firms, we see politicians doing the same to the constituencies of their peers if not their own.
So, I guess you are correct after all, “the personal responsability meme doesnt generate many laughs”
off the table mable that buck is for beer
You forgot to add:
Hold on while I turn the volume on my 70 inch HDTV that I bought on my HELOC down, and delete the messages from the credit card company bill collectors.
I guess the personal responsability meme doesnt generate many laughs
If the bankers and corporations get bailed out and can steal outright why should anyone pay any bill?
If we all follow the example of government, banks, and people like Corzine and Fuld we would run up the credit cards, not pay the mortgage or any other bills, and get to keep the house and goodies.
No matter how you analyze it, when you lay everyone's shit out on the table, the biggest pile sits in the banker corner. The same corner where all the bailout money went and all the Bernanke welfare still goes.
I also happen to know a young family that fell into the HELOC trap. They have busted their hump to pull through and they are doing fine. But the processing shitbags at the bank tried very very hard to bury them, because the math works much for them to throw people on the street.
So when I read about the man who committed suicide because Wells Fargo mistakenly put him and his family into default and refused to admit their mistake, I don't laugh.
I'm not going to follow the narrative the TBTF bankers want me to follow simply because I know who the biggest gang bangers are.
Always good to see you commenting Bill, you are acutely perceptive.
But I call Bullshit.
The % of foreclosures that were wrongful (i.e. the debtor was current and not in defualt) is infintesimally small.
So the bankers are scumbags, we agree. But the deadbeat borrowers dont get a free lunch at taxpayer's expense either.
If that makes me a bad guy, so be it.
Those "deadbeats" can't make their payments for a couple of reasons. First, they bought the house, foolishly, after the bankster thieves and liars pumped up the real estate market to unreal heights so they could ROB everyone on lending equity into a market they KNEW was going to crash and collecting huge fees and salaries and bonuses and then knowingly dumping it on countries and the taxpayers. Second, the bankster fuckers crashed a viable economy so the "deadbeat" with 5 kids a wife and a dog lost his job because now some Chinaman does it for a buck a day. The bankster PRICKS destroyed this country so they could have a yacht and a house in the Hamprons while the carnage is counted in the millions with untold suffering and children hungry. The bankers spread disease and pestilence throughout the world and deuchbags like you unwittingly vouch for them. ASSHOLE.
The problem with assholes like you is you try to fit every human event into your preconceived Weltanshauung
Sometimes shit just happens as a result of mass stupidity mixed in with a little greed; i.e.,
1. Corrupt pols want to buy the minority and "poor" vote, so they pass the community reinvestment act;
2, Idiotic Keynsian policymakers make cheap money available to all, market forces be damned;
3. TBTF banks load up on leverage to make obscene profits;
4. Greedy Joe sixpacks decide to start flipping houses en masse;
5. John Q Dumbfuck lies on his loan docs to buy more house than he can afford;
6. Unconscionable, unregulated mortgage brokers pitch "no doc" loans to homebuyers.
But in your tin foil hat world there HAS TO BE an evil Emperor Palpatine type (preferrably Jewish) behind the scenes pulling the strings for profit.
Assholes like you are the ultimate in personal responsability FAILS, as you think of everyone as helpless victims controlled by the illuminti.
You could getr a job as a regulator. All you have to say during your "investigation" is "hey, shit happens. Who knew?" So in YOUR world, the world WIYHOUT the tin foil hats, no one is responsible and everyone didn't mean for shit to happen it just did and gee they had no idea as they sail their 300 foot yacht around eating caviar on toast points. Are you fucking stoooooooooooopid???
what happens in vegas, stays in vegas. (one can only hope)
you are right. almost all of the foreclosures were/are(although technicalites of the law are a legitimate protection from abuse of the law,i.e., establishing ownership of the mortgage) rightfully prosecuted. the problem with your perspective is the placement of the cart and horse. i can personally attest to the fraud committed by the banks to approve normally unapprovable mortgages. in my case, i gamed the banks and won having sold my last house in 6/2006. in most cases, even among others who were flipping houses, the fraud caught them. the vast majority of these people just wanted to buy a house to call a home. if the banks had followed any semblance of due dilligence the vast majority of foreclosures would not have occurred because the mortgage applicants would not have been given mortgages and the boom would likely not happened as the run up was a function of the artificially created demand(fraudulent mortgages).
this is not an argument for mortgage forgiveness. i would prefer a harmless walk away, no recourse, no credit hit, no public record. the banks scoop up the pile of sht they created with the task of disinfecting it themselves.
you're missing the point. Prudent lending procedures were INTENTIONALLY ommited. The banks would have lent to a cadaver if they could have, it was all about fees, salaries, bonuses and getting filthy rich before the whole house of cards collapsed. And they knew the end game would be the business model of the Fed Reserve which is dumping the debt on the taxpayers and indebting entire nations so they can control the political process and take over countries. It was a win/win for the banksters. All went according to plan as it continues to with the imploding of countries and the fed and the ECB are in complete control of the destruction that is exactly what they want.
You are just barking at the wrong critters. I spend my time barking at the critters that fucked up the title and mortgage recording system by means of blatant fraud. The ones who beg and grovel for TBTF handouts while they hammer everyone further down the food chain.
My position has been consistent throughout, if you want to hold people accountable, hold everyone accountable. Don't blame the little guys while you are handing the loan pimps a mulligan.
WB, always love your work...
They always blame the little guy (who else could be so silently lay down?), goes way back forever.
It's in our upbringing. Either we have to be re-born (good luck with that) or a few brave fellas like many in ZH here, wake us up.
Lasvegasdave
May in respect to percentages you are right, but try and get something arranged or a resolution to an issue and you discover no one has authority, there are no names to call of people who are reachable and so on.
Customer service is dead, for a reason.
It pretty well negates your comment for the people who are having difficulty due to job loss, medical costs, whatever, they are basically screwed.
Ultimately, responsibility lies with the mortgage lenders. It was their job to screen applicants to make sure they either weren't borrowing more than they're salary could handle, or were financially capable of paying back the mortgage.
If the banks or Wall Street make it possible for anyone to borrow money to buy castles in the sky without any background checks then people are gonna line up around the block.
Wall Street knew what it was doing and pressured Congress to pass laws making it easier to lend money to circumspect people, ala sub-prime and alt-a.
But, of course, this is all so 2009-2010-2011 and has been covered extensively by the gods of ZH.
In other words, your a little late to the "people should be responsible" party. Those of us that were around during that time were holding barbeques, keggers, and bong parties blogging about it, where were you?
http://www.nationofchange.org/fraud-and-folly-untold-story-general-electric-s-subprime-debacle-1325956044
http://www.investorsinsight.com/blogs/john_mauldins_outside_the_box/archive/2010/10/25/how-a-gang-of-predatory-lenders-and-wall-street-bankers-fleeced-america-and-spawned-a-global-crisis.aspx
http://www.portervillepost.com/pdf/The_Best_Way_To_Rob_A_Bank.pdf
The most incredible read on this subject of origination sweat shops is a Book called The Monster. Monster indeed.
I guess the personal responsability meme doesnt generate many laughs…
In case you haven’t noticed, amusement is what’s left when the rule of law is flaunted by those “responsible” for its administration. In your recent education regarding bifurcation you should’ve noted it subverted the law and the individuals whose responsibility it is to oversee their subordinate’s activities were too far removed from the process to claim responsibility for their criminal conduct.
Lawmakers claim no banker would’ve intentionally allowed fraudulent activity to occur in their firms as it didn’t make sense. We now know different and in addition to the business leaders that raped their firms, we see politicians doing the same to the constituencies of their peers if not their own.
So, I guess you are correct after all, “the personal responsability meme doesnt generate many laughs”
Jeez. Fuld is a brutal looking motherfucker.
Pure Tribal.
Trying to rape the dog....genius
ROTFLMAO
Wb7
Know you have to make the caption short,but
They destroyed the Notes.Could not let the defrauded MBS investors compare notes
with the defrauded homeowner's,let alone the defrauded CDS underwriters or the
defrauded taxpayers.
No crimes commited here,move along now