Posted on 06/14/2009 11:53:09 AM PDT by adm5
H.R. 1728 passed the House by an overwhelming majority in a record three days time. Now it’s in the Senate and is widely expected to pass quickly as well. Why the rush? Is AIG planning to hand out zillions in bonuses again?
My guess would be that our elected representatives and their banking benefactors would prefer that we don’t know anything about it.
Consider this scenario:
You own a house. You want to sell it.
Someone wants to buy it.
You decide to sell it to the person who wants to buy it and carry the paper yourself for whatever reason. Maybe you want the income instead of the cash. Maybe you’re just particularly fond of the buyer, I don’t know.
I’m sorry… you can’t. It’s illegal.
(Excerpt) Read more at mandelman.ml-implode.com ...
and they probably would like to force homeschoolers to get a permit from the NEA and DOE
As much as I always hate to do this, I believe this warrants a CW-II ping. I’ll let you decide whether or not to pass it on to that ping list.
No, it'll screw a lot of people, in every socio-economic-generational group. As banks keep on hoarding money and not lending any, and as interest rates rise back to early 80's levels (15%+ is coming), owner financing will become the most probable way two people, a seller and a buyer, can transact business.
Private party exemption.
It is not federally illegal, although I’m certain that some of the parts of the USSA will toss up a roadblock or two.
I can sell you my gun anywhere. - Even at a garage sale.
there is an FBI NICS number for the general public that you can call to verify this. Look it up
The more people you reward the more power you amass as favors will be reciprocated.
Monday, April 13, 2009 The American Solution is to Further Rob the People
Wading through the alphabet soup of American governmental plans to save the private banks and their uber private bank, the Federal Reserve, one can only come to a single conclusion: since day one of the crisis, indeed, from the very creation of the bubble that could and would only lead to the crisis, this has been only about stealing every single kapeky of the people's money, their rights and powers and has been orchestrated by both branches of the One Party Two Branch system of American body politics. As I stated in The Hypocrisy of American "Democracy" and in Whom Does the US Congress Serve, the American public is living in a serious state of denial, the English along with them, if they for a second believe that their government has their best interest in mind, on paper or even as a fuzzy conception.
It is impossible for this author to accept that the heads of American and thus much of the world's finance did not know that the loose money, low interest policies and the absolute lack of any lending standards, would not lead to a bubble. Further, as the bubble grew and the few Casandra's issued their calls, it is again, impossible for this author to believe that again, these masters of national and international finance had no idea that the bubble would explode and lead to total collapse. Only an uneducated and naive fool, the general body of the Anglosphere public, was absolutely clueless.
Furthermore, as the implosion got underway and all signals pointed to nothing but an absolute route, it is again, impossible for the author to believe that the most obvious solution was unknown and other solutions that would only insure the collection of trillions in dollars and debt, in the hands of the few greedy men about whom Woodrow Wilson lamented in his 1919 autobiography, would not occur.
The stated goal of all of these bogus thefts, excuse me, bailouts, has been:
1. the stabilization of the banks
2. the release of credit
3. the salvation of the economy and thus of the body citizenry
To this end, nothing has been accomplished but the absolute theft of $2-4 trillion dollars, depending on how one looks at the promises and obligations of the members of the One Party Two Branch system in DC to their owners in the Federal Reserve and Wall Street. That there has been no substantial change in any of the policies of either the Bush or Obama administrations, only upholds the basic fact of this theft. As I stated in The Six Evils of Wall Street and the Suffering of Humanity, the owners of the Federal Reserve, the masters of much of the hell unleashed upon humanity of the past 120 years, have practiced their art of theft very well indeed. Their last, up to this, most successful enterprise, was the rape of Russia, but even that, in comparison, to the schemes in America, is chump change.
If the goal was actually to accomplish these three points, as stated over and over and preached to the world, then the answer is quite simple. Please note, I, myself, do not subscribe to mass rescues and bailouts but to a strongly regulated, fair and flat inner market (please never confuse this with Free Trade, of which I am neither a prominent, nor lover off, but in fact a staunch enemy). Now the simple an intelligent thing to do, if the order of the day is to spend trillions, is to: one, set a dead line date, after which strict market regulations will go into effect, specifying the minimum criteria of loan generation. Second, investigations into criminal wrong doing should be launched and carried through on all banks involved, on insurance companies, and on scoring agencies. Lastly, all house mortgages, which are primary residences, should have been simply bought out by the government. That is correct, the government pays off the debt in one fell sweep and gives the certificate of ownership to the individual mortgage holders.
In effect, this saves the banks by wiping out their toxic assets (not to mention, all other holders of such debt), saves all the people who are in their homes and provides $500-$3,000 per month in each home owner's pocket to "stimulate" the economy of his or her choice. At the same time, strict legislation keeps this from happening again.
That the brightest minds of finance and the body politic could not or would not see this humble and simple and straight forward answer as the key answer, shows simply that this whole crisis is a rigged game, a final grab of all available wealth to an uber .5% and the 99.5% all be damned. And the reaction of the American public? Well, as I described in American Capitalism, Gone with a Whimper little more then the grumbling and desperate self delusion of a lost, misguided slave dreaming dreams of his uniqueness and freedom. A fool's desperate escape into flights of fantasy and distraction.
That there will never be a revolution or upheaval in the American lands, is beyond a doubt. The American people have neither the whits, the internal fortitude, nor the drive to suffer and sacrifice for their own and society's greatest good against their owners and betters. The ineffectual "tax payer" revolts, known as the tea parties, are nothing shy of a joke and most of the world must be laughing. One French protest march in Paris encompassed more people, in a nation of 1/4th the American population, then all of these hundreds of mini "revolts" combined, even if you multiply their sum total by a factor of 10. Is it really any surprise that Lenin stands proudly, towering in downtown Seattle, while his spiritual forefather sits upon a giant marble monument in DC, a white washed dictator named Lincoln?
To my Holy Motherland, I will say only what I said before: Russia Must Offer the World a Different Ideology and as such, be in the position to receive into her bossom those few of the Anglosphere peoples, those refugees from slavery, who show a will to fight the Marxist enslavement, that Russia herself threw off almost twenty years ago.-Matt Rodinos Blog
Damn right we can.
“This is a very dumb bill that will truly screw over young first-time home buyers. “
its more than that, its a bill that seeks to define the terms under which a person can sell their private property. Further erosion on the value of contracts.
bttt
It will continue to be done as always just now, under le’ tableau (”the table” for those in rio linda).
Very interesting. I agree with most of it, however I think the author underestimates the American citizenry.
It’s time.
I was a Real Estate Broker in the late ‘70’s - the only way you could sell anything was using creative financing and Real Estate Contracts since mortgage rates were 22% - no one could qualify for a mortgage - so we sold everything on contracts with balloon payments due in 5 years when rates settled down.
This is unbelievable - the time has come folks, lock and load.
Is everyone *getting it* now? It’s not just the Dems. It’s all of them. Years and years in DC and they all become corrupt. I think half of them are stupid too. We won’t even recognize this country in 10 years at this rate. Too bad the people here are too lazy to protest like the people in Iran. What time is American Idol on? Who are the finalists?
BRAVO!!! Think we should all send this to every single one of them?
Tell us what you really think.
Seriously, you nailed it. This is the beginning of the outright seizure of personal property, without the “bother” of eminent domain. This is facism pure and simple. Thanks for sharing this...
This ought to put the end to any housing recovery! Since buyers must reasonable be expected to be able to repay the loans, does that preclude illegal aliens as they are subject to deportation and loss of income? Why not spell it out?
The gov is doing its best to make criminals of all of us. With so many insane, intrusive laws, who would possibly comply with them all? I’ve already sent in my last um....”accurate” 1040.
My impression of flippers is that they improved housing for millions of people, upgrading many neighborhoods across the country.
Then, they ending up losing more than most in the RE collapse.
The “worst” of the flippers were just rookies, and still are. Leave it to congress to want to “protect us” from those working to improve housing stock and neighborhoods overall.
Anyone who has worked with some banks and developers knows that, in comparison, we hardly need “protection” from rookie flippers.
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