“The asset (note and mortgage) is sold to someone else. They may pay 50 cents on the dollar, but you still owe the full amount. That’s how the FDIC fund is not totally ravaged. Then if you don’t pay them, they foreclose.”
I’m not talking about what bankers actually do, I’m talking about real contract law, [...]
The white-collar criminals in Washington who are looting the U.S. Treasury and stealing trillions of dollars from taxpayers.
That’s what this financial bailout really is, of course: A grand, desperate swindle that seeks to wring every last cent out of the U.S. dollar before the coming currency collapse. A collapse of the value of the U.S. [...]
CASH INFUSIONS
October 14th 2008 Bank of America $ 15 Billion
March 16th 2008 Chase Bank $ 29 Billion
October 14th 2008 Chase Bank $ 25 Billion
October 14th 2008 Wells Fargo Bank $ 25 Billion
October 14th 2008 Citibank $ 25 Billion
November 23rd 2008 Citibank $ 20 Billion
November 17th 2008 U S Bancorp $ 6.6Billion
November 17th 2008 Suntrust Bank [...]
No doubt prodded by the administration, Fannie Mae and Freddie Mac announced a new attempt to stop the fall in home prices and foreclosures through a loan modification program that would cap mortgage payments so that a homeowner’s total housing expenses would not exceed 38% of household income for home owners who are 90 days [...]
When the DOW went to 14,000, it set a new price high but, the value, what you could buy if you sold the DOW at 14,000, wouldn’t buy you what it would when it peaked in 2000.
We could see DOW 50,000 within a year if the G-20 meeting were to announce a new global currency [...]
http://online.wsj.com/article/SB119690586945915304.html?mod=googlenews_wsj
Not to mention the $150B “stimulus plan” before that, which deposited $150B directly into banks that flushed even more debt straight down.
Or the $150B political goodie bag racked on to the $700B fear bill that does absolutely nothing to address the corrupt bank-driven politics that created the subprime world economic meltdown.
Wait, I have a great [...]
I am very worried about the bank bailout plan being passed by Congress. It posed the risk of lowering the value of the dollar, busting the national debt, and may not even work. At the same time there are alternatives.
Because of this $700 billion plus bailout bill over the next two years you can expect [...]
The big news this weekend is Hank Paulson put a $700 billion price tag on a bailout package designed to prevent a financial market crisis from becoming an economic calamity.
Paulson’s plan would require Congress to raise the U.S. debt limit to $11.3 trillion. Don’t forget it was just in July when the debt limit was [...]
U.S. bad debt plan might cost up to half a trillion dollars - CNBC.
(”US Bank Debt Plan Might Cost Up To Half A Trillion Dlrs -CNBC,” published at
0356 GMT, incorrectly stated in the headline the plan was for bank debt. It
should have read bad debt.)
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