Perry B

Wall Street Breakfast: Must-Know News

FDIC to break up banks; This sounds like WAMU. Lets give the assets to the fed. and give the toxic risk to our pals at Say Goldman or BAC or whoever the fed choses. Then the fed will back those risk players of thier chosing with federal taxpayer dollars. Giving the true loss these banksters can declare to the taxpayers. What a shell game and a legal laundering of money.

Wall Street Breakfast: Must-Know News

To robert b. Obama had wanted to do just that. His proposal was to auction off all toxic loans to establish the bottom. You can guess, where the corrupt congress and legislators; in cahoots with these banksters. Told him he could stick that idea. However it did send them scurrying to repay tarp funds instead of continuing to gobble up smaller banks with taxpayer dollars.

Wall Street Breakfast: Must-Know News

These Federal bailout dollars are confusing and in the long run possibly criminal. I will give an example. I am current on my mortgage. Have not missed one payment.. No lates nothing. I recieved a letter from my bank that stated they wanted $40,000 cash to bring my loan to the value of the property, currently asessed by their in house appraisers. Or they would take further action. I naturally said screw you. They took me to an arbitrator.Which according to my Loan agreement is the only manner of dispute settlement. My lender was awarded a judgement for the $40,000. I was in shock. I told them I did'nt have the $40k They said just keep making your payments. We will work something out with you in 90 day's.I said in 90 day's I will still not have the $40k. They said they would take further action in 90 day's upon review of the loan. My Attorney does not seem to understand this Lenders position. The financial Attorneys that do understand the Lenders position are in conflict of interest if they tell me why. Assuming they know, The State Banking Commision is aloof and absent from taking any stand. On the grounds that it is not in their scope of regulation duties. So I could be a conspiricy theorist or a sheeple. But my take on this whole bailout is that the banks will produce the judgement to the Feds the feds will give the bank the $40k. I and the American sheeple in similar situations will not be able to see how these writeoffs transpired and the banks and large investors will recover the imaginary $40k loss.By me being deemed "at risk". Thank you Federal Government. The banks have taken a hit in the market as their stocks have plummeted 40%. In my opinion This to was part of the scam. That being said. I will continue to make my payments and I will, For the next twenty years be having this judgement hanging over my loan.Repaying with interest the $40k that the feds have already bailed the banks on. In our sheeple mentality With the no punishment demanded for criminal acts that is rampant. If My theory is correct and the banks get caught by someone. The bank will simply say we had your loan under review. The feds paid us, we reduced your loan have a nice life. So my opinion is that we do live in a very nasty greed driven Nation. With our Federal Government, now being a large vote in the financial sector due to the bailouts rules making them preferred stock holders. We as citizens can look for higher interest rates. Cookie cutter requierments to qualify for loans. Loan officers being totally emasculated as far as making lending decisions.Based on geograhics and economic shifts and trends. Which is one reason Mortgage companies sprang up to begin with. Proffesional lenders like lending. They could operate with more freedom under the Mortgage company Banking rules. in the future The government will determine with a very heavy hand what creates these shifts and trends in America and the world. We as sheeple will follow where they lead. So much for free enterprise. The only sheeple we can blame is ourselves for not demanding more accountabillity for Federal spending. As well as law makers in Washington making totally self serving laws. A media that is bought off by corporate sponsers. Unable to report the truth. A sad day for America.That is the end of my rant. Hope it makes sense. Have grate day.