| User Info
| About Those Bad Loans.... (Bank Bailout -- Again) in forum [Market-Ticker]
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Themortgagedude
Posts: 8853
Incept: 2007-12-17
saint louis
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No prosecutor wants me on the jury of an individual case of fraud.
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I'm already visualizing you with duct tape over your mouth.
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Jduwaldt
Posts: 499
Incept: 2010-06-10
Orange County, CA
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And the news media wonder why some people sympathize with Christopher Dorner or Joe Stack. Ah well. they (The banks, media, pols) are probably thinking we wont notice, at least until our guns are gone. After that it wont matter, unless we can pull off a mass protest ala East Germany or Iceland.
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It's not an issue of "cooperation" vs "go it alone": it's a question of involuntary vs voluntary relationships.
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Randy123
Posts: 5785
Incept: 2008-09-24
Earth
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God's Work
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China is the Enemy. Wake Up.
New Normal. Same As The Old Awful.
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Jack_crabb
Posts: 2425
Incept: 2010-06-25
Peoples' Republik of Maryland
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I wonder if "Dick"-Holder knew about this?
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Molon Labe
Where is Henry Bowman when you need him?
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Killben
Posts: 205
Incept: 2009-12-07
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"It is very difficult to argue that the citizens of the nation should obey the law when those who are wealthy, powerful and well-connected can simply ignore that very same law, knowing they can pay a trivial fine -- or none at all - when they get caught."
Exactly. When the legal system is so rotten why should ordinary citizens be law-abiding.
The system needs a real overhaul and unless we the people rise against this rotten system, the overhaul IS NOT GONNA HAPPEN!
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Rickcaird
Posts: 78
Incept: 2009-08-17
Boynton Beach, Fl
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The continuing corruption in the financial systems along with the acquiescence of the Fed is beyond what a democracy can stand. It is clear Congress and the administration have to be involved in this continuing corruption. The corruption is so deep and so prevalent, it is doubtful even a change of administration will be enough to slow down this train wreck.
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Marcustullius
Posts: 202
Incept: 2010-06-12
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Rick, at this time it seems to some that just about all the players on both 'teams' play by a different rulebook than what is publicly issued; and therefore punting both teams and pretty much all players would be sufficient to cure the problem (well, at least for a generation).
A thought that scares me is "what if this situation is a result of the rules 'as publicly issued'" That opens a much bigger & nastier can of worms... and some of the possible end points are exceedingly bad.
Tully
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"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds." (Samuel Adams)
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Medicdan
Posts: 8020
Incept: 2010-02-11
Scottsdale, AZ
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Quote:And how much political hay have your seen about this, I think you meant And how much political hay have you seen about this,
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Iou
Posts: 1025
Incept: 2009-03-16
The Twilight Zone
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The Fed has the green light to do whatever it takes to keep the balls in the air. There is no turning back now. Only question left is time to impact...
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"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."- Frédéric Bastiat
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Blurtman
Posts: 563
Incept: 2009-01-24
Banned
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Kill the bankers.
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I have a reading comprehension problem and the owner banned me for repeatedly displaying it after being warned.
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Atlasrocked
Posts: 364
Incept: 2009-03-23
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We have to all realize the majority of voters no longer care about this behavior.
We need to start discussing what the minority must do to stop it.
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Catman
Posts: 6
Incept: 2013-01-19
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I happened to catch Friday Night Fights last month while killing time in a hotel room. The real winner was simply robbed by the judges and Teddy Atlas went on a couple great rants that could really be applied to many aspects of American life right now. I've queued it up to the very moment of the decision here, watch for 90 seconds: http://www.youtube.com/watch?v=w7lGo1SSh.... |
Steelhead23
Posts: 2042
Incept: 2008-09-09
Portland OR
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This is rich. Friends, for years I have argued that the statements by the Fed that it had not lost money on the bailouts (not just opportunity costs, but actual losses) was pure hokum. They were assuming the bonds at Maiden Lane were as good as gold - including the beautiful Countrywide turds BAC unloaded. Yeah, right. Now that those losses have been realized the Fed is seeking to exonerate BAC - because if the Fed were to try to recover these losses, BAC might well collapse and the elaborate financial house of cards the Fed oversees could collapse. Perhaps I shoud add this to my sig. line, but the prime directive for the Obama Federation is that NO LARGE FINANCIAL INSTITUTION SHALL EVER BE ALLOWED TO FAIL.
Does this mean that the Fed will openly acknowledge that it has indeed lost money on its MBS purchases? I doubt it, but that is the headline I take from this case.
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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
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