Program to Buy Bad Assets Nearly in Place, U.S. Says

catherine at 18:43 2009-10-05 said:

dammit, TAXPAYERS BEND OVER, THIS TOXIC CRAP ISN'T WORTH ANYTHING RIGHT NOW AND UNCLE SAM HAS DECIDED TO FINISH US OFF...........

IT IS LIKE FDR SAYING THAT TAXPAYERS WILL REIMBURSE ALL THOSE GUYS THAT LOST IN THE STOCK MARKET IN THE 30s........this CAN'T WORK AND WILL TAKE US ALL THE WAY DOWN THE RABBITHOLE.......YOU JUST CAN'T MAKE THIS STUFF UP :evil: Permalink

mortgagemess at 21:01 2009-10-05 said:

LoL..its not like the banks/lenders have sat on the sidelines waiting for this to happen. They have been unloading the toxic loads to each other over the past few years. homeowners who receive notices that their "loan" which is already near foreclosure stage, has been sold to another bank has been occuring constantly. That is one of the reasons why the homeowners stand no chance of getting a modification. While they may not have equity in their home, the lender who purchases their note for 10-35 cents on the dollar will make money on the foreclosure of the home. The reality is that this program did not go into effect now because the banks are mostly done with this switch game and the last 700 billion will take care of the last of the bad loans that could not be sold off to other lenders. Now the goverment will step in and take the rest. Permalink

Chaffed By It All at 00:50 2009-10-06 said:

Joe America, If there so happens to be any left, Please pass me the Vasoline. This bending over and taking yet another one in the arse for these reckless, immoral, ignorant, in bed with the devil Banks and US Government, has me again "Chaffed By It All" The USA = The Used, Screwed & Abused Permalink

catherine at 01:44 2009-10-06 said:

LoL..its not like the banks/lenders have sat on the sidelines waiting for this to happen. They have been unloading the toxic loads to each other over the past few years. homeowners who receive notices that their "loan" which is already near foreclosure stage, has been sold to another bank has been occuring constantly. That is one of the reasons why the homeowners stand no chance of getting a modification. While they may not have equity in their home, the lender who purchases their note for 10-35 cents on the dollar will make money on the foreclosure of the home. The reality is that this program did not go into effect now because the banks are mostly done with this switch game and the last 700 billion will take care of the last of the bad loans that could not be sold off to other lenders. Now the goverment will step in and take the rest.

LOL BACK, hehehehe the laugh is on them BUT SCREWS US. IF YOU think with foreclosures

(NEW ONES NOT THE ONES THAT THEY ARE LOOKING AT NOW)

ARE NOT RAMPING SKYHIGH with unemployment then the government just isn't looking.

These were securitized INTO THE TRILLIONS AND IT DOESN'T SEEM LIKE ANYONE HAS 50 TRILLION OR SO LAYING AROUND TO REALLY CLEAN UP THE MESS.

good post but I think they are just treading water and TALKING AMONGST THEMSELVES AND PATTING THEMSELVES ON THE BACK but the hole IS WAY TO DEEP TO FILL WITH OUR TAX DOLLARS.

and you are dead on, they borrowed that first money a year ago and have been tossing the FORECLOSURE balls back and forth to each other BUT SHORTLY THE MUSIC WILL STOP and when 200 banks fail WHO GETS THE TOXIC ASSETS THEY HAVE, HMNNNNNN?

most in our business know that the way we did things ARE OVER, AS BAD AS IT IS GOING TO BE FOR ALL US - THE BIG BOYS ARE GETTING READY TO FIND OUT THAT THEIR SNARKY WAY OF OPERATING IS OVER TOO.........THEY JUST HAD TOO MUCH MONEY TO CUSHION THEIR FALL FOR THEM TO EVEN REALIZE THEY ARE FALLING - IT WOULD BE LIKE US LOSING OUR JOBS AND HAVING 1 MILLION IN THE BANK............WE COULD CONTINUE ON FOR QUITE AWHILE, COULDN'T WE???

BUT THE GROUND IS COMING UP VERY VERY FAST AND THEY GOT TONS OF HOLES IN THEIR PARACHUTES.......... Permalink