One brave pilot spoiled their little party.
Thanks to Freeper Textide for the photo.
Posted on 09/21/2008 4:57:31 AM PDT by Alas Babylon!
... and of course, when it was just Hillary slated to attend their tax exempt status was as secure as Fort Knox.
The hypocrisy is breathtaking.
You are right. Tax-payers stand to make a profit if history is any indication.
PRE-2005 the risk of over inflating collateral could be washed out via lien stripping of the under collateralized portion of a loan.
This lead to valuation fights with mortgage lenders.
After 2005 the bankrupcy law erased the undercollateralized risk. Essentially they held the primary residence via threat of homelessness.
Rabbi Potasnik (he is a lawyer)made in a point in the interview to say that both sides received invitations to attend that should not have been an issue.
Yeah we think a lot alike,she came along at a time when we really needed her as well.
FNS
Schumer is like a hog heading to the slop trough — more pork, more pork, lots of pork.
$700Billion (plus).
Open the checkbook! Here comes the porkers.
Yes, but the piggybacking did something else.
Part of the idea of the down payment was to assure that the lender had something worthwhile under their loan. But the other part of it was to make it unlikely that the borrower would end up underwater at any point during the loan. HELOC’s eroded this additional source of stability.
He promptly told me to get, "back under the bridge..." rather than respond to the merits of my challenge.
Now, who manifested the "smart mouth"?
No need to respond, as I already know (likely better than you) what your response would be.
The only comfort I can squeeze out of these dregs is the mortgages are not all in default, they are not sellable, meaning, Lord Willing, we the taxpayer will be able to recoup some of that money back....
I guess I have always longed for GW to come out with both guns blazing against the dirty dems since there is really no down side to blasting them for their screw ups.
Besides the rats have always respected strength and walked all over weakness.
Paulson did a lousy job explaining the $700bn plan on the table. Chris set up a question where Paulson could have hit a home run and state that LESS regulation by the government (Fannie/Freddie) is the answer: stop forcing banks to make loans to less than credit worthy borrowers.
If AIG was such a gosh-darned bargain, why didn’t some other private entity make a deal for it? Why did Uncle Sap have to pick up that garbage company?
BDS
I think Schumer actually knows what is going on but is lying out his teeth. Not sure about Kyle. I wish the GOP would put one person up that understand what is going on and explains it. It is not that complicated. A lot of threads around here are really nutty.
Key point here long term, and that's exactly what Obamas buddy Raines did! He bought the bad paper as fast as he could so his commissions would get higher and higher not caring a dam about what so much bad paper did to the bottom line of the company. And when it all went South don't dare challenge him since he is black and that would be racist. Scam masters all! That's what they are!
Once again Mark Levin exposed all of this on his Friday show and held back no punches.
As I understand it, nobody knows the value of their assets. Not even themselves.
I have asked folks to keep it civil on this thread. If grown people can't do that, well, I can't make them.
If any one finds another to be abusive on this or any other thread, my recommendation to them is to hit the abuse button and let the admin mods decide. Warning: The admin mods are not easily amused over petty squabbles.
Cedric, please do not ping me about your disputes with another FReeper. I have said all I want to say on this matter.
One brave pilot spoiled their little party.
Thanks to Freeper Textide for the photo.
“So Dem/rats broke all the rules that bankers had used for years and sooner rather than later we have lots of people who bought homes they could ill afford that should not have been there to begin with, not paying their mortgages and defaulting.”
Here’s a post I made the other day. It includes a link to a long article in Fortune from 2005 that has a lot of history on Freddie and Fannie:
I suspect that would be you, other FReeper FRiends and moi.
Here’s another article I found from 2005 and posted on the compilation thread:
Long article (from 2005), but a lot of history:
The Fall of Fannie Mae
This is not your ordinary accounting fraud. Yes, there’s the matter of $9 billion in overstated earnings. But the fight over Fannie is a nasty political showdown where everyone has his own agenda. And it’s not over yet.
By BETHANY MCLEAN
January 24, 2005
(FORTUNE Magazine)
http://money.cnn.com/magazines/fortune/fortune_archive/2005/01/24/8234040/index.htm
7 posted on Wednesday, September 17, 2008 10:02:21 AM by Seattle Conservative (God Bless and protect our troops and their CIC)
http://www.freerepublic.com/focus/f-news/2084407/posts
http://www.freerepublic.com/focus/news/2084338/posts?page=71#71
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