Relevant:
- U.S. bank industry entering new crisis:Whalen
- Thrift Banks Report $1.8bn in Profits Despite Rising Foreclosures: OTS
- FHA Foreclosures Increase Prior to FHA Streamline Refinance Rescue Plan
- Mortgage Foreclosures Decline From Record in U.S. as Employment Improves
- Foreclosures surprise Hamptons real estate market
2010-12-21 — ml-implode.com
"“The U.S. banking industry is entering a new period of crisis where operating costs are rising dramatically due to foreclosures and defaults. We are less than ¼ of the way through the foreclosure process.â€"
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catherine at 03:18 2010-12-22 said:
AMEN AMEN, he is right on. This is going to destroy our financial system and it wasn't something put in the water in 2003 come on guys, IT WAS PUT IN THE WATER IN 1999. When Clinton and Greenspan and Rubin gutted Glass Steagall it was open season on robbery and the homeowners just got in the way. The economy was booming, 5.2 unemployment - if you wanted to work you could and people bought homes on that..................THEN THE JOBS DISAPPEARED, we are rounding 25% in real unemployment now...........and the media is right on time, now after losing 2 million a jobs EVERY MONTH for the four years the Democrats have controlled CONGRESS, NOW THE STORY IS OUT, ahem, just in time to welcome those wascully republicans in the House in 2 weeks................ never a mention for the LAST FOUR YEARS that unemployment might be fueling foreclosures, nope no connection there............ the government changed the accounting rules on unemployment (2 years ago) IF YOU HAVE BEEN UNEMPLOYED FOR OVER 24 MONTHS, HAHAHAHAHAHA, THEY JUST DON'T PUT YOU IN THE NUMBERS,................those slick Democrats can't argue with that, can you??? just say the real number is 9.8% and all the foreclosed people were idiots and just move on........(that is exactly what has been going on) .but this article is right, how can you lose 2 million a month for almost 4 years and no end in sight and not think that the financial system is in trouble? 2 million unemployed a month is over 1 - 1.5 million foreclosures....... well in January the media will finally find the unemployed, they will finally see the real numbers to bash the repubs with, did a little already ...............I hope you will get very mad that the media lied to you when you see the REAL NUMBER trotted out next spring.....................but sadly many here help the media with those lies, the kool-aid is too tasty and the reality is just tooo tooo mean.......................they just pray that the LIES are the truth........after all this time and damage, they are still wishin and hopin and prayin........... Permalinkadd a comment | go to forum thread
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