Posted on 10/24/2010 6:52:53 AM PDT by blam
I’m not really interested in seeing bankers and their lawyers go to jail, what I want to see is the ‘dead beats’ punished. Maybe not only foreclose on them, but maybe flogging or force them to sell their organs. I don’t understand why we can open debtor prisons, I mean these people need to be punished!
The only crime in his world was getting caught.
Remember that this is the clown who along with his wife STOLE things belonging to the people of the United States from the White House.
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The only thing Federal Reserve Chairman Ben Bernanke has to offer is to print more dollars (Monetary easing).
Fire up the presses.
What's standing in the way of the self-correcting mechanism?
Not what but who?
Answer: The turd-in-the-punchbowl president, the Speaker of mumbo-jumbo Pelousy & Senate Majority Leader Harry Odious-Ridiculous.
The 'Three Stooges' from hell.
In November, please vote out anyone who supported them in any way.
As always, when the financial/banking system gets into trouble, the leftists and idiots turn the situation into, 1. the poor stupid people who borrowed money were taken advantage of by bankers, and/or 2. Evil greedy bankers need to go to jail and be punished.
It is amazing to me the number of “experts” (including the bloviator Karl Denninger who is so myopically focused he can’t see beyond his own middle finger) who attack the banks and make no mention of our central-banking system (the Federal Reserve) which is THE SINGLE SYSTEMIC CAUSE of ALL of these banking problems.
And, as usual, the “foreclosuregate” will be used as an excuse to give people their houses. So when that useful idiot during Obammie the Commie’s campaign shouted, “we won’t have to pay our mortgage, we won’t have to pay for gas” we all thought she was a fool for believing socialist/communist spew.
Maybe she was right.
Meanwhile, the rest of us have to continue paying our mortgages and our property taxes and our income taxes so that we can continue to give freebies to greedy bastards that run the central banking system, the greedy bankers who sixty-nine the politicians, and the greedy materialistic bastards who took out half a million dollar mortgages though they only make 50K a year.
For Bankers to to to jail a lot of politicians would have to join them. Thus no investigations or jail for either.
Yea. Shoot everybody who made bad loan decisions.
Except the loaners. They had no idea interest only, high commission subprime loans would fail.
You’re talking about some sort of an organized way to squeeze blood from turnips. People needing to buy houses do not create bubble markets and all banks would ever have to do to prevent them would be to stop lending more than houses are actually worth.
Yeah, I mean why follow the rule of law? When forgery and perjury make the wheels go so much faster? So you forge a few documents and commit a little perjury against the court why that nothing close to failing to honor a civil contract. If fact a little more perjury and fraud on the court would make so many judicial proceedings run smoother. All those laws just get in the way of justice. Besides laws are just documents and how needs those?
Sounds like a good start...
Right, those who loaned money to obvious deadbeats, and then came to the taxpayers to be made whole, should walk away clean. Preferably with a bonus to sweeten the deal.
Yes very important that we make sure the banks are made whole on these loans, because you know they sure didn’t make anything by selling the same mortgages two or three times to investors.
I’m confused. Are you upset at the loaners lies or the borrowers lies?
“I don’t understand why we can open debtor prisons, I mean these people need to be punished!”
You may not agree with it but one of the reasons the colonists wanted to come to America was to get away from the English debtor prisons. People were put in prison until they could pay their fines, and they obviously couldn’t earn an income while in jail, so they would be stuck there for long periods with no real hope of getting out.
It was a cruel system and one which we should not return to. It’s already come back to an extent in the ‘Deadbeat Dad’ laws. Those are similar to the old debtor prison system.
I can’t agree with your premise. The sellers will charge what the markets can bear. If there were a limit to the funds a buyer has, the seller would be foolish to price the item higher than that. In the case of the housing market, the Community Reinvestment Act (CRA) forced the lenders to give loans to people who wouldn’t otherwise qualify for home loans. The CRA used the threat of federal laws against lenders to accomplish this. With all of this money flooding the housing markets, the prices went artificially high. It was only a matter of time before the first defaults occurred, which stifled the amount of cash the lenders had available for new home loans, which caused sellers to be left with unsellable properties (at artificially inflated prices), causing a panic selling at reduced prices (underwater prices/mortgages), and the death spiral continues.
Do I want to see housing prices back up to where they were before the bubble burst? Hell no! They were artificial at those levels and were not based on realistic values.
Part I- http://www.youtube.com/watch?v=OLD6VChcWCE&feature=related
Part II- http://www.youtube.com/watch?v=D0MESB6VZM4&feature=related
Part III- http://www.youtube.com/watch?v=KkXI-MNSb8Q&feature=related
bttt
The assumption I would make at this juncture is that the Wall Street fat cats are mainly gravitating towards the party (dems) which is more corrupt and corruption-friendly, and that ideology doesn't have much to do with it.
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