the priest map or witch map

[deducer]

Deducer,

I am intimately familiar with what lead to the real estate crash and the equally stupid Dodd Frank legislation that followed. I can (and may) write a book exposing the truth of what happened.

George Bush and company had little to nothing to do with it. Although they did enjoy the propped up false economy in its hay day. Look to Bill Clinton and Barney Frank for your top sources. This is the frame work that made legalized thievery of the less fortunate a global enterprise. Bill and Barney are just the big names but they are far from alone in making the situation possible.

In the lending industry there is A paper (prime), B paper (average) and C & D paper. I forbid my sales personnel from chasing C & D paper. And we made good money and enjoyed top market shares without it. I told everyone that would listen and forced many to face the unfaceable. To no avail. They were in too deep to turn back.

But that didn't keep my independent agents from working that business. When they failed, I as principal, got literally truck loads of files with C & D paper to work through and make some sort of sense out of. Usually with State insurance commissioners and regulations breathing down my back. Within those files were the HUD-1 settlement statements showing the charges collected and rolled into the loans. The propped up appraisals and justifications. It was probably the most heartbreaking experience of my career.

The rape and pillage of our most vulnerable was truly a sin. And practiced by hoards of "real estate professionals" at all levels. Scum of the earth. Not just the banks, Banks were the cows tail in the deal and lightweights in the act. Why folks didn't go to jail is a mystery to me. Although it would have exposed the real reasons that set up the practices that legalized out and out thief and left our securities worthless. As wells as wreaked the very fiber of our middle class net worth.

And; to make matters worse......for all the huff and puff of Dodd/Frank and its ginormous regulations that do nothing to provide real safety and do much to set up feel good but useless regulations, the practices are coming back strong. I see it every day gradually raising its ugly head. Those profit margins are just too good to resist.

So......go ahead and tell me all about the financial crisis. I got time.

I'm sorry, but the statement "banks were the cows tails in the deal and lightweights in the act" is completely erroneous. The banks, especially big banks, were front and center in the housing crisis- they are the ones who bullied their way into the housing market and leveraged it to the hilt by buying up mortgages in bulk and CDO'ing them and passing them off as "safe" using that chicanery called the credit default swap as "insurance," making them attractive to conservative investors in the way of paying more yield than say, treasury notes. These investors then wanted more of those securities, which sent the big banks scurrying back to buying whatever mortgages remained to repackage, and when that ran out, they then came up with that infamous "sub-prime mortgage" scheme which was the beginning of the end.

And of course, these banks got bailed out at the taxpayer’s expense. Meanwhile, subprime mortgages were not forgiven. Foreclosures were not reversed. People still had to keep on paying toxic mortgages such as ARM’s which ballooned once the interest-only payment period ended.

And to add insult to injury, these banks continue to foreclose on houses long after the crisis- and one of them, OneWest Bank was famous for tossing people out on holidays, foreclosing on a 89 year old widow, and foreclosing four times as much in communities of color. They foreclosed on a record 36,000 homeowners.

By the way, do you know who the person was who oversaw operations at OneWest Bank? It was Steve Mnuchin, the “foreclosure machine.”

Who is the president-elect’s choice as the treasury secretary? None other than Steven Mnuchin, the foreclosure machine.

Meanwhile, back at the ranch, the president-elect has just called for escalating the nuclear arms race. What is this? 1951?

 

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[EarnieP]

Quit whining EP

It's your turn to put up with the political nonsense

Wrmickel1



OLD AND BITTER IS NO WAY TO LIVE

"Political nonsense", perfect description Wr.

"Bitter" has never been a synonym for 'enlightened'.
I seriously doubt I would ever be so disconnected to actually enjoy lies and cons.

Regardless, you are a tad wrong about 'old' is "no way of living".
It is if you do it long enough.

 

[EarnieP]

to quote Humphrey Bogart " the cards are dealt the other way now and for the last time"

i've never really been a rep. or dem.....i figure they are all crooks...but after seeing these whiney ass crybaby tantrum throwing democrats ..the best word that comes to mind is "disgusting"...after the embarrassing display they put on...it kinda makes a feller feel good that they are upset

Time will tell how good you feel, Dave. Just a matter of time.

 

[azdave35]

Time will tell how good you feel, Dave. Just a matter of time.

lol...i have no idea what trump is going to do...all i'm saying is it's good to see a bunch of crybabys not get their way....they are lucky i didnt get elected....the first thing i would do is examine footage of all the riot's...any loser i found on there that is on public assistance...such as welfare..etc..he or she would be cut off welfare and charged with welfare fraud...the way i see it...any idiot that is well enough to riot..loot..flip cars over and assault police is totally capable of working..besides..after the last 8 years anything will be an improvement...heck...a nuclear holocaust is better than what happened here the last 8 years...lol

 

[EarnieP]

Careful Dave, Wr might think you've been "bitter" for years.

Everyone creates their own illusions.
By the means generally used to measure such things, the last eight years have been some of the best in our history.

 

[azdave35]

Careful Dave, Wr might think you've been "bitter" for years.

Everyone creates their own illusions.
By the means generally used to measure such things, the last eight years have been some of the best in our history.

lol...damn earnie...do you really believe that?...if that is true then why do all the races hate each other?...if you are saying this country is better off financially i dont agree...we are so far in debt it will take a giant excavator to pull us out...even if i gave you the benefit of the doubt and said we are better off financially...what good is that if we are at each others throats?...i dont know about you but i'll take peace and well being over money any day..in the last 8 years the media has done everything it could to get a race war going

 

[wrmickel1]

Careful Dave, Wr might think you've been "bitter" for years.

Everyone creates their own illusions.
By the means generally used to measure such things, the last eight years have been some of the best in our history.

No, not Quit EP

I think Dave knows it's not right to take from the poor and give it to Free Loaders, He's just not ready to Smell Boiled Cabbage Urine and Farts for the next four years. Your kind making rules for everyone is over.

Wrmickel1

It's kinda funny most treasure hunters are level headed and most of the top 1 percenters are Dumbercrates.

 

[Old]

Deducer, I won't write out a chapter and verse response. But; I will reintegrate ...the banks WERE the cow's tail and lightweights in the overall melt down.

The full details would make most folks eyes glaze over. So I will spare ya.

Rest assured. There is lots of blame to go around.

The on-set to the troubles was in deed from the Clinton era in forcing local and large lending institutions to diversify their lending portfolios. Translated to ........be less restrictive to allow more people to qualify. Sub prime went from 30% of the market to 70% in short order. Once forced to do so, nobody wanted to buy the C & D paper long term debt. So.....Congress fixed that via the Federal Reserve, Fannie Mae, Freddie Mac. Allan Greenspan and Barney allowing (forcing) the mixing of mortgage types in the pooling process in the Mortgage Backed Securities. Could name some prominent Senators and Congressmen, but you get the drift. Merrill Lynch, JP Morgan Chase, Countywide, Citigroup, Washington Mutual, etc., etc......made One West look like small potatoes.

But; all that...........ALL of it .....was long after the real face to face theft had taken place. It was the overnight self made real estate appraisers that inflated the home values 2 and 3 times actual to get the borrower qualified. Once on record, that made ALL the homes in the area go up by that amount as comparables to the "adjusted" new normal set by the stinger. It happened over and over again until everything was a fantasy.

Those "specialist" appraisers charged upwards of $1000 to $1500 a site for the work of fiction.......Who cared? Nobody; it got rolled in the loan. Same on title exams, termite inspection, home inspection. 2, 3, 4 times the going rate for the inner circle of accomplices. Then there were the originators, the closers......Closing costs of 12 to 15K on average for a 100K home, for a 20 year adjustable. All rolled into the loan. That's where the real dirty stuff took place. Which were passed through the originators, on the investment banker, into the pooling tranches, and into your 401Ks via mortgage backed securities. Any wonder the houses were underwater from the get go? Oh; and lest we forget some took a short hop through derivatives and overnight interest floats.

But; I bore you........Trust me. It happened.

 

[EarnieP]

No, not Quit EP

I think Dave knows it's not right to take from the poor and give it to Free Loaders, He's just not ready to Smell Boiled Cabbage Urine and Farts for the next four years. Your kind making rules for everyone is over.

Wrmickel1

It's kinda funny most treasure hunters are level headed and most of the top 1 percenters are Dumbercrates.

Why Wr, you sound ....."bitter"

 

[EarnieP]

Sorry, I'll be off-line for a bit, I'm still rolling on the floor, laughing my...(well, you know.)!

 

[Old]

On a different note: I've solved the Mexican turtle symbol.....smh........shoulda known all along

 

[azdave35]

Sorry, I'll be off-line for a bit, I'm still rolling on the floor, laughing my...(well, you know.)!

see..trump hasn't even taken office and you're already laughing and having a good time

 

[wrmickel1]

Why Wr, you sound ....."bitter"

Yep, Cause now I can't seem to stomach CABBAGE![emoji3]

Wrmickel1

 

[EarnieP]

I'm hoisting the white flag Wr. You win.
No match for you, must be like shooting baby ducks in a washtub, just a waste of good ammo.
I'll slink off to the Fox site, see if I can sneak back in there under a different screen name.
Bigger pond, target rich environment.

You guys have a wonderful Holiday, I mean Merry Christmas!

 

[azdave35]

I'm hoisting the white flag Wr. You win.
No match for you, must be like shooting baby ducks in a washtub, just a waste of good ammo.
I'll slink off to the Fox site, see if I can sneak back in under a different screen name.
Bigger pond, target rich environment.

You guys have a wonderful Holiday, I mean Merry Christmas!

you picking up your marbles and going home?

 

[EarnieP]

you picking up your marbles and going home?

As far as this particular 'discussion', that's a definite maybe!
--------------------

Like the old retired Sheriff said in 'No Country For Old Men';

"You can't stop what's coming, it ain't all waiting on you. That's vanity."


matter of time...

 

[deducer]

Deducer, I won't write out a chapter and verse response. But; I will reintegrate ...the banks WERE the cow's tail and lightweights in the overall melt down.

The full details would make most folks eyes glaze over. So I will spare ya.

Rest assured. There is lots of blame to go around.

The on-set to the troubles was in deed from the Clinton era in forcing local and large lending institutions to diversify their lending portfolios. Translated to ........be less restrictive to allow more people to qualify. Sub prime went from 30% of the market to 70% in short order. Once forced to do so, nobody wanted to buy the C & D paper long term debt. So.....Congress fixed that via the Federal Reserve, Fannie Mae, Freddie Mac. Allan Greenspan and Barney allowing (forcing) the mixing of mortgage types in the pooling process in the Mortgage Backed Securities. Could name some prominent Senators and Congressmen, but you get the drift. Merrill Lynch, JP Morgan Chase, Countywide, Citigroup, Washington Mutual, etc., etc......made One West look like small potatoes.

But; all that...........ALL of it .....was long after the real face to face theft had taken place. It was the overnight self made real estate appraisers that inflated the home values 2 and 3 times actual to get the borrower qualified. Once on record, that made ALL the homes in the area go up by that amount as comparables to the "adjusted" new normal set by the stinger. It happened over and over again until everything was a fantasy.

Those "specialist" appraisers charged upwards of $1000 to $1500 a site for the work of fiction.......Who cared? Nobody; it got rolled in the loan. Same on title exams, termite inspection, home inspection. 2, 3, 4 times the going rate for the inner circle of accomplices. Then there were the originators, the closers......Closing costs of 12 to 15K on average for a 100K home, for a 20 year adjustable. All rolled into the loan. That's where the real dirty stuff took place. Which were passed through the originators, on the investment banker, into the pooling tranches, and into your 401Ks via mortgage backed securities. Any wonder the houses were underwater from the get go? Oh; and lest we forget some took a short hop through derivatives and overnight interest floats.

But; I bore you........Trust me. It happened.

This isn't boring me- this has been a constructive debate, and sometimes I learn a good deal this way.

Right now I will have to take a break for the holidays; be back after the long weekend. Merry Christmas to you and everyone else!

 

[Real of Tayopa]

No Lynda, not I, since I was in Mexico at the time and I missed it,

 

[Azquester]

Bill,

Well.....I'm no expert on "Poo Piles", Mother Nature or otherwise, but do you have a picture of such a pile that is as good as this one?



Is it Mother Nature, or some other pile of crap?

Good luck,

Joe Ribaudo

Looks nice, Kenworthy, I believe. I've posted similar profile heads on here with negative responses. People on here, and we won't name names, always tell me their "Not Buying it".

I'll tell you the same as they do me. I'm not buying it. Prove it's man made and "I'll buy it".

I like the Indian Head profile. Sell it to me!

Best,

Bill

 

[audigger53]

Funny, DeGrazia could see what I can in natures abstracts. One of his galleries in Tucson was just down the road from where I lived for 18 years of my life. My wife and I used to go in there all the time checking out his work. His Abstract paintings and drawings were much more complex than they looked, he was a brilliant artist. He had a keen eye for seeing and painting the unseen. I love all his work and have many of his prints in my house.

He understood Abstract Treasure Hunting or "Abstracting".

A lot of his paintings are similar to the shadow horses and plain almost cartoon like simplicity of the artists that created them.

There are times when I am astounded by the things that connect. My Band Director in HS at Florence was Frank DeGrazia.
Ted's brother. I didn't know this until 1980 when staying at my mothers house in Florence, stopped by his house and talked with him.
I asked if he was related to the Artist and he told me Ted was his brother.
His brother (Ted) stopped by one night after the IRS was after him for "the value of his old drawings as Income", that he had never published or showed or offered for sale.
So he took them all, rolled them up and put them into PVC pipes that he capped and drove out near the Supes and buried them.
Some day after heavy rains someone "might" find the PVC pipes and cut them open. How's that for a treasure find? BTW I never told this to anyone except my brother who passed away back in 2005.