User Tag List

+ Reply to Thread
Page 1 of 2 12 LastLast
Results 1 to 10 of 11

Thread: President Obama, Bored With the Foreclosure Crisis. That Explains A Lot, Actually.

  1. #1
    Points: 1,844, Level: 9
    Level completed: 98%, Points required for next Level: 6
    Overall activity: 1.0%
    Achievements:
    Tagger Second Class1 year registered1000 Experience Points
    michaelr's Avatar Member
    Karma
    75
    Join Date
    Jul 2012
    Posts
    168
    Points
    1,844
    Level
    9
    Thanks Given
    31
    Thanked 39x in 31 Posts
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    3

    President Obama, Bored With the Foreclosure Crisis. That Explains A Lot, Actually.

    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!

  2. The Following User Says Thank You to michaelr For This Useful Post:

    waltky (11-10-2012)

  3. #2
    Original Ranter
    Points: 82,214, Level: 69
    Level completed: 91%, Points required for next Level: 236
    Overall activity: 0%
    Achievements:
    SocialRecommendation Second Class1 year registeredOverdriveTagger First Class50000 Experience Points
    MMC's Avatar Banned
    Karma
    2528
    Join Date
    Jun 2011
    Location
    Chicago Illinois
    Posts
    22,709
    Points
    82,214
    Level
    69
    Thanks Given
    3,227
    Thanked 1,662x in 1,465 Posts
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    0
    Bored with that Crisis.....huh? Guess we can see some more Gold out of his azz then.

  4. #3
    tPF Moderator
    Original Ranter
    V.I.P
    Points: 220,662, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 93.0%
    Achievements:
    SocialCreated Album picturesOverdrive50000 Experience PointsVeteran
    Awards:
    Discussion Ender
    Peter1469's Avatar Moderator Representative
    Karma
    49549
    Join Date
    Jun 2011
    Location
    Northern VA
    Posts
    47,110
    Points
    220,662
    Level
    100
    Thanks Given
    20,505
    Thanked 15,022x in 10,961 Posts
    Mentioned
    979 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    546
    He is too bored to kick his AG in the pants and start prosecuting the bankers who committed massive fraud in this crisis.

  5. The Following 2 Users Say Thank You to Peter1469 For This Useful Post:

    michaelr (07-03-2012),Trinnity (07-03-2012)

  6. #4
    Points: 30,029, Level: 42
    Level completed: 28%, Points required for next Level: 1,021
    Overall activity: 0%
    Achievements:
    Social1 year registeredTagger Second Class25000 Experience Points
    roadmaster's Avatar Senior Member
    Karma
    5271
    Join Date
    Dec 2011
    Posts
    8,422
    Points
    30,029
    Level
    42
    Thanks Given
    1,222
    Thanked 1,541x in 1,258 Posts
    Mentioned
    114 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    63
    Quote Originally Posted by Peter1469 View Post
    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.

  7. The Following 2 Users Say Thank You to roadmaster For This Useful Post:

    michaelr (07-03-2012),wingrider (07-04-2012)

  8. #5
    Points: 1,844, Level: 9
    Level completed: 98%, Points required for next Level: 6
    Overall activity: 1.0%
    Achievements:
    Tagger Second Class1 year registered1000 Experience Points
    michaelr's Avatar Member
    Karma
    75
    Join Date
    Jul 2012
    Posts
    168
    Points
    1,844
    Level
    9
    Thanks Given
    31
    Thanked 39x in 31 Posts
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    3
    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 $#@!. 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.

  9. #6
    tPF Moderator
    Original Ranter
    V.I.P
    Points: 220,662, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 93.0%
    Achievements:
    SocialCreated Album picturesOverdrive50000 Experience PointsVeteran
    Awards:
    Discussion Ender
    Peter1469's Avatar Moderator Representative
    Karma
    49549
    Join Date
    Jun 2011
    Location
    Northern VA
    Posts
    47,110
    Points
    220,662
    Level
    100
    Thanks Given
    20,505
    Thanked 15,022x in 10,961 Posts
    Mentioned
    979 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    546
    Quote Originally Posted by michaelr View Post
    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 $#@!. 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.

  10. #7
    Points: 42,379, Level: 50
    Level completed: 32%, Points required for next Level: 1,171
    Overall activity: 15.0%
    Achievements:
    SocialRecommendation First ClassTagger First Class25000 Experience PointsOverdrive1 year registered
    Awards:
    User with most referrers
    Trinnity's Avatar Banned
    Karma
    4943
    Join Date
    May 2012
    Posts
    8,715
    Points
    42,379
    Level
    50
    Thanks Given
    2,348
    Thanked 1,831x in 1,322 Posts
    Mentioned
    66 Post(s)
    Tagged
    2 Thread(s)
    Rep Power
    0
    Now that you put it that way...yikes!

  11. #8
    Points: 42,379, Level: 50
    Level completed: 32%, Points required for next Level: 1,171
    Overall activity: 15.0%
    Achievements:
    SocialRecommendation First ClassTagger First Class25000 Experience PointsOverdrive1 year registered
    Awards:
    User with most referrers
    Trinnity's Avatar Banned
    Karma
    4943
    Join Date
    May 2012
    Posts
    8,715
    Points
    42,379
    Level
    50
    Thanks Given
    2,348
    Thanked 1,831x in 1,322 Posts
    Mentioned
    66 Post(s)
    Tagged
    2 Thread(s)
    Rep Power
    0
    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.



    None of them really care as far as I can tell.
    Last edited by Trinnity; 07-03-2012 at 05:33 PM.

  12. #9
    Points: 1,844, Level: 9
    Level completed: 98%, Points required for next Level: 6
    Overall activity: 1.0%
    Achievements:
    Tagger Second Class1 year registered1000 Experience Points
    michaelr's Avatar Member
    Karma
    75
    Join Date
    Jul 2012
    Posts
    168
    Points
    1,844
    Level
    9
    Thanks Given
    31
    Thanked 39x in 31 Posts
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    3
    Quote Originally Posted by Trinnity View Post
    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.

  13. The Following 2 Users Say Thank You to michaelr For This Useful Post:

    Peter1469 (07-03-2012),Trinnity (07-03-2012)

  14. #10
    Points: 1,724, Level: 9
    Level completed: 58%, Points required for next Level: 126
    Overall activity: 52.0%
    Achievements:
    7 days registered1000 Experience Points
    waltky's Avatar Senior Member
    Karma
    355
    Join Date
    Oct 2012
    Posts
    352
    Points
    1,724
    Level
    9
    Thanks Given
    204
    Thanked 46x in 40 Posts
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    6

    Angry

    Granny says, "Dat's right - alla rich folks done snatched up alla bargains...

    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/201...#ixzz2BruQKnIf

+ Reply to Thread

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts


Forum Topsite Critical Acclaim
Single Sign On provided by vBSSO