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View Full Version : President Obama, Bored With the Foreclosure Crisis. That Explains A Lot, Actually.



michaelr
07-02-2012, 11:19 PM
President Obama, Bored With the Foreclosure Crisis. That Explains A Lot, Actually. (http://mandelman.ml-implode.com/2012/07/president-obama-bored-with-the-foreclosure-crisis-that-explains-a-lot-actually/)

Mr. Obummer is bored. I wonder if the people who lost out are bored......me thinks not.


Bummer Obummer!

MMC
07-02-2012, 11:24 PM
Bored with that Crisis.....huh? Guess we can see some more Gold out of his azz then.

Peter1469
07-03-2012, 03:33 PM
He is too bored to kick his AG in the pants and start prosecuting the bankers who committed massive fraud in this crisis.

roadmaster
07-03-2012, 03:41 PM
He is too bored to kick his AG in the pants and start prosecuting the bankers who committed massive fraud in this crisis.

And they have hurt many. We should have never bailed out these banks. They were disruptive to the poor and middle class and continue to do so.

michaelr
07-03-2012, 03:52 PM
They have been doing a fantastic job of keeping these things off the market. The securities demand that, but it can't last forever.

TARP and non-related bailouts range in the $23 trillion range. The banks "pay" it back with worthless MBS.

It isn't bad enough that we are a nation without a viable economy. That economy has been replaced with QE and Twist programs. In doing that the fed also takes MBS and even the dreaded CDS of the hands of the banks, and that goes on the backs of everyone of us and will remain until it becomes our grandchildren's debt. This level of insanity has never been witnessed outside of the cuckoo's nest. Yet that is what we have allowed.

The foreclosures hit the market in mass and the devaluation of the mortgage tanks the securities. Some may ask bu how much. To answer that one need to understand the rate of leverage. That is pretty much a hidden number but it is around 40 times the value of the mortgage. Now knock a measly 10K off 100 thousand mortgages and you get $40,000,000,000, and 10K ain't shit. Try the math using the closer figure of $100K per mortgage, and there are millions, not thousands of these foreclosures to go through.

Recovery?

My friends and foes, we haven't a recovery, we have allowed the first day of this crash to be postponed. It is close at hand however.

Peter1469
07-03-2012, 04:22 PM
They have been doing a fantastic job of keeping these things off the market. The securities demand that, but it can't last forever.

TARP and non-related bailouts range in the $23 trillion range. The banks "pay" it back with worthless MBS.

It isn't bad enough that we are a nation without a viable economy. That economy has been replaced with QE and Twist programs. In doing that the fed also takes MBS and even the dreaded CDS of the hands of the banks, and that goes on the backs of everyone of us and will remain until it becomes our grandchildren's debt. This level of insanity has never been witnessed outside of the cuckoo's nest. Yet that is what we have allowed.

The foreclosures hit the market in mass and the devaluation of the mortgage tanks the securities. Some may ask bu how much. To answer that one need to understand the rate of leverage. That is pretty much a hidden number but it is around 40 times the value of the mortgage. Now knock a measly 10K off 100 thousand mortgages and you get $40,000,000,000, and 10K ain't shit. Try the math using the closer figure of $100K per mortgage, and there are millions, not thousands of these foreclosures to go through.

Recovery?

My friends and foes, we haven't a recovery, we have allowed the first day of this crash to be postponed. It is close at hand however.


My friends and foes, we haven't a recovery, we have allowed the first day of this crash to be postponed. It is close at hand however.

I agree.

Trinnity
07-03-2012, 06:22 PM
Now that you put it that way...yikes!

Trinnity
07-03-2012, 06:31 PM
From the article, the story of one woman's forced eviction:



I unhappily report that on June 11th, I was evicted from my 4-plex.
Since I did not welcome the six big men to come in, and reacted (to me, quite normally) to being handcuffed behind my back, I was ARRESTED and taken to the 4th Street jail.

I had been raking up poop in my backyard and had a pair of ratty old shorts and a shirt on (no underwear) and managed to get one shoe on before I was painfully manhandled into a car. No purse, no keys, no money, no phone, no ID, other that my Driver’s License that SOMEONE took from my wallet. Six big men and one 71 year-old woman.

What followed is too much to put on paper and will take me a long time to get over (for a lady who never had even a parking ticket). From Monday until Friday, my six cats could not be found – anywhere in the system – even though my kids in Chicago were trying too!!!
They were found STILL IN MY APARTMENT, five days later, in different rooms, some with food, some with a kitty box.

The deputy (who arrested me!) broke a window to get at them and four were taken by friends. Two jumped through the window and nearly three weeks later are still missing, although food and water have been provided.
Citi Mortgage is sooooo much more than a Goliath Bully!!
Please remind Neil that he said I wouldn’t lose my 4-plex.
I’m staying in one room in Scottsdale and still don’t have my car off the property. BTW, there’s a Warrant out for my arrest too!


I better not hear one more word out of some dem who says Obama cares.


  http://www.youtube.com/watch?v=P36x8rTb3jI

None of them really care as far as I can tell.

michaelr
07-03-2012, 09:44 PM
Now that you put it that way...yikes!

It is a far cry from what the media sponsored "economist" tell us.

I don't know what the members of this board know about the way they use, or abuse QE and Twist. That one is a hoot, full of crime, and it is the instrument that places these derivatives on the backs of us all, and it is a major assult on the dollar and T-Bill. The rates on the T-Bill make it an extreme liability, and Twist, a plan that is supposed to support it seems to be failing. In fact Twist has been a year long program.....

Twist works like this.

The fed by its ability to make money from nothing buys CDS from the banks, then the banks in turn use those funds to purchase treasury bills. That is oversimplified, but good enough for this discussion. Believe me it gets weirder.

Anyway Twist the year long program has been extended until the end of the year. Yea right, like they will stop, me thinks not. It has failed in a hard way. The banks are unable to profit off the T-Bill because the rate lags true inflation by a long shot. What the hell is keeping the market up is beyond me, it has to be the PPT. Normally through Twist and QE the banks use their ill gotten profits to buy equities. Now they are doing that with the zero rate.

A zero rate is just monies, usually in the digital form, given to the banks, they get it at will. The NY fed just got caught giving $4 trillion to their TBTjails. Now I know use some of this to buy equities.

Man things are so fugged up that I believe is it 90% of all trading is High Frequency Trades between banks computers.

It's OK. I give this house of cards weeks, perhaps months. The LIBOR rate rigging is the final shock for the economy.

waltky
11-10-2012, 07:21 PM
Granny says, "Dat's right - alla rich folks done snatched up alla bargains...
:angry:
Foreclosure discounts gone in some markets
Nov. 10,`12 (UPI) -- Price savings on purchases of foreclosed homes are disappearing in hot housing markets like Las Vegas and Phoenix, an Internet real estate firm said.


There was no difference in September between the price of a foreclosed home sale and a standard home sale, digital real estate firm Zillow said. Home buyers today "will get somewhat of a deal, depending on the market," Zillow's Chief Economist Stan Humphries said.

Times have changed in the housing market, the Los Angeles Times reported Saturday. Supplies of existing homes are shrinking as low interest rates attract buyers, and homeowners -- many of whom walked away from their homes when the properties' value fell below what they owed on their loans -- are now holding on to their properties, waiting for values to rise again.

Foreclosed homes still represent deals in many markets, such as Cleveland, where Zillow said prices for foreclosed homes averaged 25.8 percent below standard sales. The price difference in Pittsburgh was 27.4 percent in September. It was 20 percent or better in Cincinnati and Baltimore, the Times said.

With home supplies tight, investors who can afford to bid a little more than others are making it hard for first-time buyers to find a deal, said Gary Kruger, a real estate agent in Hemet, Calif. "I have not had a successful person purchase a foreclosed home that was not an investor for months. Things are selling so quickly," he said. Real estate agent Keith Lynam said the problem in Las Vegas is, "There is just zero inventory."

Read more: http://www.upi.com/Business_News/2012/11/10/Foreclosure-discounts-gone-in-some-markets/UPI-57081352561189/#ixzz2BruQKnIf

Cigar
11-12-2012, 01:38 PM
From the article, the story of one woman's forced eviction:

I better not hear one more word out of some dem who says Obama cares.


  http://www.youtube.com/watch?v=P36x8rTb3jI

None of them really care as far as I can tell.


Obviously it has to be true, because it's on YouTube. :smiley_ROFLMAO: