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| 04:07 AM | ||
| Users Online Now: 1,212 (Who's On?) | Visitors Today: 364,542 | |
| Pageviews Today: 474,235 | Threads Today: 153 | Posts Today: 1,748 |
| 04:07 AM | ||
~ BREAKING: Fed Wants Banks to Buy Back Bad Mortgages!! ~ | |
| Anonymous Coward User ID: 1099138  United States10/21/2010 11:22 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 1137933 United States10/21/2010 11:47 PM Report Abusive Post Report Copyright Violation | Yesterday's news! Quoting: BloodRed~ You are CORRECT sir!!  ~ But I also believe it will be tomorrow's news, and the news the day after that, and the day after that, etc., etc... I think these guys at the Fed will get more and more forceful as the days go on, towards the elections... ~ Remember, they suddenly have to worry about MILLIONS of people, just in the last couple of years, waking up to the fact that they are a PRIVATE CORPORATION, and only quasi-governmental/federal in the strictest sense. People are starting to realize that when they pay their income tax, they are paying down the interest on the national debt, and their money is NOT going towards fixing the potholes in the street in front of their house.  might be connected: Calif residents are going to be hit with the global hoax warming tax. ;;;...;;;...;;;...;;;...;;;...;;;...;;;...;;;... perhaps to pay for the economical mortage fiasco |
| Anonymous Coward User ID: 1100144 United States10/21/2010 11:54 PM Report Abusive Post Report Copyright Violation | When they find out derivatives have been issued 2 and 3 times using the same underlying collateral they are going to realize how fucked they are... Quoting: ^TrInItY^What will happens is the people who bought those financial instruments (your pension fund, schools, firemen, local governments, etc) are going to find out they are worthless and have no real underlying collateral.. They are going to lose all the money they invested.. That means every big retirement fund / local municipality and even the federal government will most likely be bankrupted overnight 2/3 of the money they thought they had is now gone into thin air There is no recourse because your talking about contracts backed by nothing... Some people should and probably will go to jail over this but the gig is up and the emperor truly has no cloths "Derivatives" are like "fractional banking". When you are chopping up anything...you just get more pieces...it is a logical infinity. One just hopes one gets one of the earlier, larger pieces. |
| Dr. Woo User ID: 1102844 United States10/22/2010 12:47 AM Report Abusive Post Report Copyright Violation | Somehow they forgot to buy the right to collect (the collateral) if they stopped getting paid. But even IF they can successfully forclose on the collateral, due to the dropping market and the high cost of the resale process they will end up with about 50% of their investment. Ok now for the bad news. Most of what they were due to collect was intrest! They ain't getting that either! So now they are down to about 20% of what they THOUGHT they had comming. And thats on a good day. All and all there is a really big hole, err crater, where the money used to be. You talk about sinkholes.....danm! Looking to the future, where's the next big wave of borrowers coming from to get us out of this mess? Just go ahead and que up the lone cricket chirping sound track. The Fat Lady is has already sung and is catching a cab out front. |
Texas Uncensored  User ID: 1137785 United States10/22/2010 12:49 AM Report Abusive Post Report Copyright Violation | ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Quoting: BloodRed ~ Fed Wants Banks to Buy Back Some Bad Mortgages ~ ~ From the article: But while the human toll of the foreclosure crisis has grabbed the headlines, the fight over how these loans were created in the first place could last longer and ultimately cost the banks much, much more. And it is setting the stage for a huge battle between mortgage holders like the government, hedge funds and other institutional investors on one side and the big banks on the other. “It’s very serious,” said Glenn Schorr, an analyst with Nomura Securities. “The numbers are all over the map.” ~ The website article: [link to www.nytimes.com] ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~  This has to happen before the real economy will have a real chance to recover. **** PEACE **** UFO's @ [link to www.youtube.com] UFO photos & phenomena @ [link to www.picasaweb.google.com] MY GLP VIDEO CHANNEL * [link to video.godlikeproductions.com] [link to www.futurequake.bravehost.com] |
| Anonymous Coward User ID: 1102844 United States10/22/2010 01:28 AM Report Abusive Post Report Copyright Violation | |
