Banks over Homeowners - what has America come to?

Discussion in 'Politics' started by MiddleClass, Sep 1, 2011.

  1. MiddleClass
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    MiddleClass Moderate American

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    "Treasury Secretary Tim Geithner is pushing a settlement with the big banks and Wall Street firms that caused the mortgage crisis—letting them get away with a slap on the wrist.:confused:

    Wall Street bankers have not faced any serious punishment for the widespread fraud that crashed our whole economy—pushing bad loans, lying to investors, forging foreclosure documents—and banks are making profits again while homeowners continue to suffer.

    Unbelievably, Geithner wants state attorneys general to agree to a sweetheart deal where these banks would pay only $20 billion—a fraction of what they could owe if fully prosecuted—and would get immunity from investigation and prosecution of the criminal greed, negligence, and fraud that caused this crisis. This would eliminate any leverage regulators have to pressure banks to help out the homeowners they've hurt."

    Let your representatives know American homeowners should come first, not the greedy unethical banks. Tell Treasury Secretary Geithner, "No more sweetheart deals for Wall Street. Let states investigate and prosecute the crimes that crashed our economy."

    Click here to let them know:
    MoveOn.org Civic Action: No Sweetheart Deal for Wall Street on Mortgage Fraud
     
  2. BoycottTheday
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    BoycottTheday CEO

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    Id rather cut my nuts off with a rusty spoon than click on to moveon.org's website.
     
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  3. Truthmatters
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    Truthmatters BANNED

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    we are a country for corporate people now.

    regualr joes are just here to fill the coporate peoples needs
     
  4. saveliberty
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    saveliberty Diamond Member

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    Remind me how many bankers were charged with crimes relating to the mortgage crisis? I guess what I mean is anything exceeding zero.
     
  5. Claudette
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    Claudette Gold Member

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    Yeah and remind me how many people bought when they couldn't afford a house????
     
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  6. saveliberty
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    saveliberty Diamond Member

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    Proper vetting of customers should have eliminated those folks.
     
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  7. Truthmatters
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    Truthmatters BANNED

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    They were told by a lender that the COULD afford to buy a house.
     
  8. ClosedCaption
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    ClosedCaption Diamond Member

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    Thats what she doesnt understand. The purpose of giving those loans to people who couldnt afford them was to resell them on Wallstreet. In the words of Damon Wayans "Mo money, Mo money, Mo money!"
     
  9. Truthmatters
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    Truthmatters BANNED

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    The first logical thing to do when you want to buy a house and will need loans to do it ( you dont have cash to pay the whole price) is to go get prequalified.

    They will tell you if you have good enough credit to get a loan and how much a lender would agree to loan you.


    If they tell you htey would give you money and how much then they have told you you can afford a house.

    They are the experts right?

    So what doies the right do?

    they blame the person who relied on the experts to tell them they could afford and house and how much of a house they could afford.
     
    Last edited: Sep 1, 2011
  10. Claudette
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    Claudette Gold Member

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    Your right. It should have and back in the day it would have. You used to have to have a pretty hefty down payment to buy a house. You used to have to have good credit to buy a house.

    Fannie and Freddie did away with that.
     

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