All bankers are criminals and should be treated as such.
St Georges Day April 23rd
and their property confiscated to pay off any debt.
This is the only true way to handle these on-going bank frauds and
stock market swindles.
But the bankers work in extended crime families. It is necessary to
arrest all of the bankers, CEOs and Board members as well as their
entire extended families and business associates.
Put them on trial for grand larceny and treason, and confiscate
everything that they have swindled. This would erase the National Debt
and give every American and Englishman their own home free and clear
of debt.
Paul Thomas, CPA
"St Georges Day April 23rd" <bbbbbdfg...@googlemail.com> wrote
> The people in charge of these banks which did this should be killed
> and their property confiscated to pay off any debt.
Now slow down sparkey. These lenders didn't go out, waylay some poor scmuck
on the street and force them to take out a loan they couldn't support.
It took at least two to create the problem. Lender and borrower. Greedy
lenders. Greedy borrowers.
> This is the only true way to handle these on-going bank frauds and
> stock market swindles.
And the folks who said they had income sufficient to repay the debt? I
doubt that there is just one no-doc loan that contains a tad of expectations
and puffery on the application filled out by the borrower. Nope, not just
one for sure. In fact, I'd be surprised if there were one that didn't
contain some erroneous claim by the borrower about their income or assets.
Seems there is sufficient fraud on both sides to go around.
You have to remember that home equity loans are a relatively new idea.
Brought out by lenders to meet the demand of borrowers. Greedy borrowers
took to them like a teen to a text message. Borrowers took out home equity
loans to do stupid things like go on vacation. They used their house like
an ATM, borrowing any and all equity they could, refinancing and rolling up
the HELOC, and second mortgages into one big first mortgage with a cash out
and starting all over again.
So who caused the mess you're in? If not you - the borrower - then who?
And why is it someone elses fault that they let you - the borrower - be
greedy?
Is it the cops fault that they let you speed? It's the fault of the road
department for making the roads so smooth that you can go twice the speed
limit? So now what, you shouldn't have to pay the speeding ticket?
--
"For those who believe, no explanation is necessary. For
those who do not, none will suffice." - Joseph Dunniger
Paul A. Thomas, CPA
Athens, Georgia
Jeff
> "St Georges Day April 23rd" <bbbbbdfg...@googlemail.com> wrote
>> The people in charge of these banks which did this should be killed
>> and their property confiscated to pay off any debt.
>
>
> Now slow down sparkey. These lenders didn't go out, waylay some poor scmuck
> on the street and force them to take out a loan they couldn't support.
I don't really disagree with you, but...
There's some evidence that as much as one quarter of all subprime loans
could have been financed otherwise. In that respect at least some of
these smucks were waylaid. There was also the implication that they
could refinance after their property had appreciated.
>
> It took at least two to create the problem. Lender and borrower. Greedy
> lenders. Greedy borrowers.
Oh it goes beyond that. When you make CDOs of that debt it became
easy for the bond rating agencies to never really look into that complex
mess and just do what those who hired them wanted. All everyone wanted
was to drive this foolish easy money/ easy profit market.
The real failure, IMHO, is that the regulators did exactly what the
sharks wanted. Not what was good for them or the country but what they
wanted. That permissiveness is a hallmark of this era.
Jeff
Jeff
> "St Georges Day April 23rd" <bbbbbdfg...@googlemail.com> wrote
>> The people in charge of these banks which did this should be killed
>> and their property confiscated to pay off any debt.
>
>
> Now slow down sparkey. These lenders didn't go out, waylay some poor scmuck
> on the street and force them to take out a loan they couldn't support.
I don't really disagree with you, but...
There's some evidence that as much as one quarter of all subprime loans
could have been financed otherwise. In that respect at least some of
these smucks were waylaid. There was also the implication that they
could refinance after their property had appreciated.
>
> It took at least two to create the problem. Lender and borrower. Greedy
> lenders. Greedy borrowers.
Oh it goes beyond that. When you make CDOs of that debt it became
easy for the bond rating agencies to never really look into that complex
mess and just do what those who hired them wanted. All everyone wanted
was to drive this foolish easy money/ easy profit market.
The real failure, IMHO, is that the regulators did exactly what the
sharks wanted. Not what was good for them or the country but what they
wanted. That permissiveness is a hallmark of this era.
Jeff
>
>
>
>
George Grapman
Rod Speed
Thats a lie.
P. Maffia
signed a bill that bails out a substantial number (approx. 400,000) of
persons liable to lose their homes to foreclosure. The same bill provides a
First-time home buyers repayable credit; an additional standard deduction
for property taxes (That is a even if they do not have enough deductions to
use Schedule A, they can add $500 to their standard deduction for Property
taxes) - this deduction is phased out above certain specified incomes; the
low income housing credit was expanded; interest on certain private activity
bonds for specified housing projects is not treated as tax preference items
for AMT purposes.
"George Grapman" <sfge...@paccbell.net> wrote in message
news:Lu9Ak.389$eb4...@flpi147.ffdc.sbc.com...
Paul Thomas, CPA
"George Grapman" <sfge...@paccbell.net> wrote
> And only the lenders a being bailed out.
A very limited statement if ever there was.
The breadth of a bailout extends far beyond the doors of the lender.
"Ordinary Joe" and his pension fund benefit too. The employees benefit, as
do all those whom the employee trades with. All the lender's suppliers
benefit from future business. And the ripple effect takes it all the way
down to "Homeless Joe" living under a tarp at the edge of town.
AllYou!
P. Maffia <pma...@centurytel.net> mused:
> Sorry, false statement. Congress has already passed and the
> President has signed a bill that bails out a substantial number
> (approx. 400,000) of persons liable to lose their homes to
> foreclosure. The same bill provides a First-time home buyers
> repayable credit; an additional standard deduction for property
> taxes (That is a even if they do not have enough deductions to
> use Schedule A, they can add $500 to their standard deduction
> for Property taxes) - this deduction is phased out above certain
> specified incomes; the low income housing credit was expanded;
> interest on certain private activity bonds for specified housing
> projects is not treated as tax preference items for AMT
> purposes.
This will fall on deaf ears. Some people just want to believe the
reality that they made for themselves.
Dave
Are you hungry or cold? What are you complaining about?
The money is only database entries so the government can hit the reset
button.
Tamil Tiger
<l8mdnVkNjPqCLE_V...@posted.choiceonecommunications>,
"AllYou!" <ida...@conversent.net> wrote:
> This will fall on deaf ears. Some people just want to believe the
> reality that they made for themselves.
and;
Our Position on the Economy
Our nation was founded on values twinning personal initiative with
mutual co-operation. From the Plymouth Colony to Andrew Jackson's
Reforms, to the Homestead Act to the New Deal, Americans have known that
we all are better off when we recognize basic standards of social
justice. But thanks to globalism, dog-eat-dog economics has resulted in
offshoring, outsourcing, the destruction of unions, and the gutting of
the US economy. We advocate economic nationalism, which places the
economy at the service of the nation; we believe that the welfare of our
people should supercede all other things, including the ability of
multinational corporations to exploit or ignore our people for unbridled
profits.
http://www.europeanamericansunited.org/index.php?categoryid=16
--
If guns are out-lawed. Only the Out-laws,my in-laws
& politicians will have guns.
Paul Thomas, CPA
"Tamil Tiger" <george...@humboldt1.com> wrote
> Our nation was founded on values twinning personal initiative
> with mutual co-operation. From the Plymouth Colony to
> Andrew Jackson's Reforms, to the Homestead Act to the
> New Deal, Americans have known that we all are better
> off when we recognize basic standards of social justice.
And what are those? That we have to suck up higher prices for goods and
services because it makes ~you~ happy?
> But thanks to globalism, dog-eat-dog economics has
> resulted in offshoring, outsourcing, the destruction
> of unions, and the gutting of the US economy.
Let's be realistic here. A global economy willdrag down the better run
economies, and pull up the weaker economies, meeting some place in the
middle.
Here's how it works: You have to reduce your costs (labor being the highest
cost) to meet the competitive price offered up by folks making less per day
than the cost of a big mac meal. Those folks are elated to be making twice
their average annual wages. Your personal income goes down, theirs go up.
> We advocate economic nationalism,
At what cost?
> which places the economy at the service of the nation;
> we believe that the welfare of our people should
> supercede all other things,
Again, at what cost?
> including the ability of multinational corporations to
> exploit or ignore our people for unbridled profits.
When everyone in America stops buying crap that's not "Made in the USA" and
buys only US made goods and hires only US citizens or legal workers, then
the power of economics comes to play. Right now, the US economy is being
drug down because that's exactly what the US consumers want.
US Consumer: "We wants cheap stuff."
US Worker: "We want higher wages."
The US consumer wins out every time. But only if you do not prohibit free
and open trade.