I do not think it will go away, and I also don’t think banks will just hit the reset button with borrowers across the board.
I believe what will happen is that the government will step in and take over. If that happens, get ready to make your mortgage payments to uncle sam. Scary huh?
And I believe every bit of this was by design. You can’t get any more “cloward piven” than what is going on with the banks right now. Overwhelm the system and crash it...and the big banks were willing participants in this fraud.
I will ad to my post that I believe Obama will try to do this by executive order, and try to bypass congress. He may even try to pull this over the lame duck session.
I hope by Jan the new conservatives we’ve elected are ready to go to DC with boxing gloves on!
>>I believe what will happen is that the government will step in and take over. If that happens, get ready to make your mortgage payments to uncle sam. Scary huh?<<
I think it is too big for uncle sam.
Crooks & Liars and progressive.org think we need to nationalize the banks!
That would be perfect for their socialist agenda.
++++...”And I believe every bit of this was by design. ...”
No mark to market write-downs (losses).....>
No real buyers (demand) except at market correction/demand.....>
Non-performing assets (diluted bundled property titles securities)......>
No return/ negative returns, ....> Losses ......>
Stop losses on bundled title seizures (non-performing losses)....>
Conduit......> Bank-holding companies;.........>
Govt. guaranteed security payoffs ........>
Taxpayer backstop guarantee.