About time, I wanted Jail time, but this is a start

[Ricter]

Quote from jem:

You all act as if this market placed was not rigged.

Look until the Wall Street con men realized they were back stopped by the government... people in CA for had to pay 4- 6 points higher in their interest rates and 2-4% to hard money lenders for the last 20% of the loan. (because we had some non recourse loans.)

Then Wall Street set up the big fraud in which they underpriced the hard money guys. They could do this because they were not risking their own money.

They were selling China's money but China new the Fed would back stop them.

Now after the systems crumbled we have the FHA spending over a trillion dollars - giving out below market mortgages at 96.5 to 100%... to save the banks and stablize the low end of the market.
---

The market worked fine until Clinton eliminated glass steagall, congress choose not to regulate CDOS, wall street went from partnerships to corporations --- and Barney Frank Chris Dodd on most of Congress sold themselves to banks.

Get the government out back stops out of banking. You will see market, risk, loans and interest rates balance out again.

We will instantly see higher interest rates and lower house prices.

I'm wit ya on this one.

 

[Lucrum]

Quote from OPTIONAL777:
Look, let's be adults...

Coming from you, that's pretty funny.

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[CaptainObvious]

Quote from stock777:

Fannie Mae bans homeowners who walk away from mortgages from getting new loans for 7 years


I'd make it 70

First we must talk about Raines, Dodd, Frank, Gramm, Mozilo and the like, all in a jail cell. Then we can talk about holding the average joe to some account. Big boys walk free, so should the little guy. In fact the average guy should get a clean slate just like the no good bastards that orchastrated this mess have received. Then they should get a no interest loan for as much as they need to start over, just like the worthless fucks that brought this economic disaster upon us.

 

[traderlux]

....gov is the biggest scam, ponzi schemata ever....any one in ANY gov or public sector position, elected or otherwise, should go directly to jail at the end of their "service", that should be their "reward" for their "public service".....10 years service, 10 years jail, etc....this might convince some to do something productive in the private sector instead....i think this would ease the public pension underfunding issue also....i can have a dream....

Quote from CaptainObvious:

First we must talk about Raines, Dodd, Frank, Gramm, Mozilo and the like, all in a jail cell. Then we can talk about holding the average joe to some account. Big boys walk free, so should the little guy. In fact the average guy should get a clean slate just like the no good bastards that orchastrated this mess have received. Then they should get a no interest loan for as much as they need to start over, just like the worthless fucks that brought this economic disaster upon us.