- "It was all done on purpose."
Most of us ... have known this ... from the start.
Posted on 06/10/2011 11:56:11 PM PDT by Libloather
It was all done on purpose.
I thought most of this was all pretty much common knowledge by now. No? Question is, was there even a darker, more sinister reason for all this. For example, did the Cloward-Piven "strategy" play any part in it? IOW, was this more than just pan handling for favors and votes? </tin foil>
The bigger question is, what is the end game?
More and more I read that good solid loans are being “assigned” to Fannie. My loan was assigned by a bank I NEVER had a loan with (or any of their bought up banks), who then assigned my loan to Fannie. All unrecorded at the county. It stinks.
So, with the majority of loans owned by the government instead of a bank, what does that mean? Will this turn the entire country into a “Company Store”? A feudal age where property rights are totally destroyed?
The more evil thing is that there is reason to believe that these “securities” and “trusts” never had the loans assigned to them. They are finding that the trusts are EMPTY. And the banks used the investors money to loan out for the home mortgages. So essentially, the banks were middle men who had no “money” lent, took the investors money, sold the mortgage to who ever, and then when the homeowner defaults, gets a free house. The banks are getting paid by BOTH ends of the deal. And NONE of their MONEY was used. And that would be on only ONE loan. How many times did they sell the same loan? Thieves is too good a word of what they have done.
The end game was to crash the economy so bad they could install their own government! The leftist I mean!
Actually, I think the reason is very simple - it’s called “getting elected”.
True.
But what are they going to do with all those homes now OWNED by the leftist, redistributing, communists who hate producers? It makes me sick just thinking about it.
There were failings at EVERY level along the way after the federales put the CRA on steroids.
It could be that simple but I'm not entirely convinced. The Dims in particular had to know this would all come to no good; in fact, would probably eventually send financial markets into a tailspin. There should be legislators and regulators, along with a few Wall Streeters serving hard time as we sit here typing this but since it was all in the name of social justice, well...
What gets me is that those pools are empty. The notes aren’t assigned, and there are cases where they aren’t assigned until the owner defaults.
But what is even more maddening is that those trusts are tax exempt. Those investors aren’t paying taxes on money that is supposed to be in a trust that isn’t. It is tax evasion. Pure and simple.
Never mind the banks don’t have any skin in this game. They were only conduits of the money. They didn’t lead their OWN money at all. They have no right to foreclose on a home that wasn’t THEIR money that was used.
It is a horrible awful mess. And honest homeowners who think that they are going to get title when they DO pay off that home loan, will be most upset when that this not the case.
Bookmark
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We must have a truly independent investigation of the whole process and the crooks involved that lead to the financial catastrophe and the “Reckless Endangerment...” is a start. There has been another 9/11 type commission, the Financial Crisis Inquiry Commission stacked with Democrats as an attempt to coverup this crime. The FCIC included one honest man, Peter Wallison @ AEI, who warned of and has written about “The True Origins of This Financial Crisis”. Wallison also dissented from the majority of the FCIC and his dissent is published here; http://www.aei.org/publication29372.
Also, City Journal published a very good article in 2000; http://www.city-journal.org/html/10_1_the_trillion_dollar.html
The dirty little secret of regulation. The more complex they get the more opportunities for really smart operators to game the system.
Each time one of them gets caught, the "answer" is to institute new regulations, which of course just create new opportunities for gamesters.
It isn't possible for $150k/year regulators to stay ahead of guys who can make $150M in short order by gaming the system one time.
In this particular case, of course, the regulators were actively encouraging the gamesters to do what they did. The regulators and pols for political reasons and the gamesters for financial reasons were playing with "other people's money."
by the grace of God we paid off our mortgage last year.
one wonders if anything can be done until it all comes crashing down.
When it does, even though money will be meaningless there will be a small group on top. They would be most vulnerable and easily overcome by the angry mobs. If we’re not dead yet.........
After the names of the political Elitists are all exposed, We The People must ensure that they “never” get elected to anything in their lifetimes ever again.
It is up to We The People to DEMAND an investigation into this reprehensible corruption against the American people and those not yet born. We must DEMAND all involved be exposed and do prison time until their end days.
Bookmarked.
This bill is so big and bloated that hundreds of regulations are now being written (Cass Sustein) to try to implement what they have passed.
It does seem like this entire nation is getting robbed, and we will wake up one day with the digidollars gone, the crooks stuffed with our money, and the nation will fall into communist policies as a cure.
Talk about not wasting a crisis. They PLANNED this crisis!!!
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