Posted on 02/10/2010 2:53:22 PM PST by FromLori
>>warehouse lines from the big banks
Hello, Spreken ze Deutsche bank?
“DEUTSCHE BANK NATIONAL TRUST COMPANY, AS TRUSTEE OF ARGENT MORTGAGE SECURITIES, INC. ASSET-BACKED PASS THROUGH CERTIFICATES”
FICO FICO who gots the real FICO...
Where’s LEO?
Gotta get a bigger mattress...
Bump...
I wish I knew enough to answer that question.
You better see what Marc Faber said on CNBC.
He says both the US and Europe are all going to default on their debt..
http://www.cnbc.com/id/35332965/
Since the Banks were force to make these loans in the first place by the Community Reinvestment Act, I hope they all sue the federal government.
Holy crap! This is unbelievable, so is post #25.
“Wish I knew a safe place to invest my money”...
Me, too. Everyone mentions Canada is not in the pickle we are in, didn’t make stupid home loans, etc. Wonder if Americans are able to send money out of the country to Canadian banks?
Back in 2006 I talked to a loan officer who went on an interview to work for another mortgage company. During his stroll through the office he saw a dude sitting crosslegged on the floor with scissors and tape and whiteout, happily doing something with some credit reports. The loan officer asked the guy who was walking him back to his office for the interview what that was all about and was matter-of-factly informed that the guy on the floor was just “cleaning up some credit reports - - it just makes things easier. It’s no big deal”.
The loan officer immediately decided he would seek new employment elsewhere.
Where's RICO?
Liz might or Star or maybe they will know who can enlighten us.
Makes you wonder what Iran is planning for tomorrow. Nukes? Mass suicide bombings? Banning Islam in Iran? What kind of punch do they have in mind?
Haven’t been able to bring 25 up...THey must be getting swamped...Wonder who is doing the swampem?
Here is post #25:
US, Europe Will All Default On Their Debt: Marc Faber
Published: Wednesday, 10 Feb 2010 | 2:38 PM ET
By: CNBC.com
The governments of every developed economy will eventually default on their sovereign debts, including the US, the UK and Western Europe, Marc Faber, editor of the Gloom, Boom & Doom report, told CNBC.
“In the developed world we have huge debt to GDP, in terms of government debt to GDP and unfunded liabilities that will come due,” Faber said in a live interview via telephone. “These unfunded liabilities are so huge that eventually these governments will all have to print money before they default.”
Faber said that emerging economies are much more financially sound on this basis than the developed world, with the exception of Singapore, which has a limited amount of debt and huge reserves.
His comments come amid talks of a bailout for struggling Euro zone member Greece, which needs to borrow 53 billion euros, or $73 billion, to cover its deficit and refinance debt that is coming due.
Faber added that the global stock markets — which have mostly fallen about 10 to 20 percent from their peaks — have begun a correction phase that he expects to continue.
He said he thinks the new resistance level for the S&P 500 will be 1,100, though an oversold market could cause a relief rally over the next ten days.
Still, he said he is “relatively optimistic” about stocks going up, referring to them and precious metals as two of the best safe havens.
It’s $6.3 TRILLION that’s not included in the debt ceiling that was just raised to $14.3 TRILLION to cover this year only.
“$6.3 million”
Osama can’t see millions, that must be at least billions if not trillions.
Sorry .. I know nothing these complex
financial traumas.
No it’s $6.3 Trillion look at the link I posted in comments.
Obama’s Budget Has One Small, Missing Piece.... For $6.3 Trillion Dollars
http://www.zerohedge.com/article/obamas-budget-has-one-small-missing-piece-63-trillion-dollars
I recently served on a jury in Federal Court. It was a 7 week trial for Mortgage Fraud in NNJ. I was amazed to learn of “NoDoc” & “Liars’ Loans” as described by the mortgage loan officers we found guilty. These loan officers & accomplices were busted only because of their excessive greed. I imagine that there so many fraudulent loans on the books peddled by more “sophisticated” loan officers
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