FDIC Rips People Off (Foreclosures), Wow this makes my blood boil

[hvactec]

[ame=http://www.youtube.com/watch?v=lWRfoTyf47o]YouTube - FDIC Rips People Off (Foreclosures)[/ame]

 

[RodISHI]

Socializing losses and keeping profits. Typical for the bank.

The sound did not work when I downloaded it so i could watch it but, I get the gist of it. The loan guarantee programs have enriched the bankers and insurance people while stripping more wealth away from the people.

 

[Mr.Fitnah]

http://www.usmessageboard.com/1994189-post1.html

Doesnt generate much interest Im afriad

 

[RodISHI]

This is the kind of stuff that makes people want to shoot all bankers and all politicians in bed with the thieves. Not only that but the people who did not go into these scams and games will end up suffering the consequences of these wolves actions.

As the Wall Street Journal reports this morning, in what are called a "loss-share" agreements, buyers of failed banks are getting billions of dollars in government guarantees to snatch up the bank's bad assets. To entice buyers, the Federal Deposit Insurance Corporation is offering to cover around 80 percent of the losses associated with buying a bank. The result, the WSJ points out, is a massive subsidy to the private equity industry, and a huge risk to the American taxpayer. As bank failures have mounted this year, much has been made of the FDIC's dwindling Deposit Insurance Fund. But, as the WSJ reports, the FDIC's potential risk through loss-share agreements "is about six times the amount remaining in its fund that guarantees consumers' deposits." Though the WSJ doesn't go so far as to say the enormous guarantees are, in fact, sweetheart deals, it's hard to imagine a better scenario for bank buyers. (Except maybe the FDIC offering to guarantee 100 percent of the total losses associated with buying a failed bank.) "The FDIC, assuming its traditional role, brokered a sale of the bank's deposits to BB&T Co

 

[Gatekeeper]

http://www.usmessageboard.com/1994189-post1.html

Doesnt generate much interest Im afriad

Want to generate a lot of interest?

Stop broadcasting sports in the media and watch the USA and the world self destruct. Stop the daytime soap operas and other useless nonsense and the masses rise up in with hammers and cudgels.

Let the greedy business and incompetent leadership rule the masses, and most just sit in a blind stupor with a Gomer Pyle look on their faces mumbling over and over 'GahhhhhLeee'

At least most, some, okay a few, in USMB can see through most of the BS
I myself cannot keep on top of everything but what I do become aware of that I do not agree with, at least I follow it up with phone calls and e-mails to my representatives, for what good that has done, but still have to keep pounding away. As I am sure most of those in here do also, follow up with some action other than pounding away at a keyboard all day.

There is so much corruption going on in the USA today, no one can control it, specially when some of those we elect sit by and allow it to occur year after year. Okay, I am done rambling with useless rhetoric...........next

 

[RodISHI]

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