Moratorium On Bank Foreclosures? 40 States' AGs Say Yes; Obama Says No....Why?

[Madeline]

t r u t h o u t | As Fraud Scandal Grows, White House Opposes National Moratorium on Foreclosures

I have to say, I love this news feed. This is a tremendously important story that all the major news outlets seem to be ignoring.

Anyways, thoughts?

 

[Oddball]

Ummm...Could it possibly be all them mortgages held by Fannie/Freddie?

NAAAAAAAAAAAWWW!

 

[Quantum Windbag]

t r u t h o u t | As Fraud Scandal Grows, White House Opposes National Moratorium on Foreclosures

I have to say, I love this news feed. This is a tremendously important story that all the major news outlets seem to be ignoring.

Anyways, thoughts?

The longer all this drags on, the worse it is going to be. The only way the housing market, and the economy, will recover is if all those foreclosures that are pending go through.

 

[Revere]

The delinquencies aren't in question. It's a matter of the formalities of some paperwork.

 

[Madeline]

Ummm...Could it possibly be all them mortgages held by Fannie/Freddie?

NAAAAAAAAAAAWWW!

I thought Freddie and Fannie were secondary mortgage outlets? In any event, it feels odd to me that in a dispute between the citizenry and Big Business, Obama would side with Big Business. Reminds me of his response to the BP Oil Spill.

 

[Madeline]

t r u t h o u t | As Fraud Scandal Grows, White House Opposes National Moratorium on Foreclosures

I have to say, I love this news feed. This is a tremendously important story that all the major news outlets seem to be ignoring.

Anyways, thoughts?

The longer all this drags on, the worse it is going to be. The only way the housing market, and the economy, will recover is if all those foreclosures that are pending go through.

Is this all about using auto-pens, Quantum Windbag?

 

[Oddball]

Ummm...Could it possibly be all them mortgages held by Fannie/Freddie?

NAAAAAAAAAAAWWW!

I thought Freddie and Fannie were secondary mortgage outlets? In any event, it feels odd to me that in a dispute between the citizenry and Big Business, Obama would side with Big Business. Reminds me of his response to the BP Oil Spill.

Check your premise.

Little Lord Obammyroy always (and I don't throw universal qualifiers around lightly) sides with big gubmint.

 

[Madeline]

Ummm...Could it possibly be all them mortgages held by Fannie/Freddie?

NAAAAAAAAAAAWWW!

I thought Freddie and Fannie were secondary mortgage outlets? In any event, it feels odd to me that in a dispute between the citizenry and Big Business, Obama would side with Big Business. Reminds me of his response to the BP Oil Spill.

Check your premise.

Little Lord Obammyroy always (and I don't throw universal qualifiers around lightly) sides with big gubmint.

Okie dokie. I still dun follow, Oddball. You think Obama opposes a moratorium because the government would ultimately have the pay the freight?

 

[Sallow]

Ummm...Could it possibly be all them mortgages held by Fannie/Freddie?

NAAAAAAAAAAAWWW!

I thought Freddie and Fannie were secondary mortgage outlets? In any event, it feels odd to me that in a dispute between the citizenry and Big Business, Obama would side with Big Business. Reminds me of his response to the BP Oil Spill.

Part of it is probably a realization that if an investigation were opened up into what really went on with this banking debacle, right now, it would stifle any sort of recovery.

At least in the short term.

 

[loosecannon]

Ummm...Could it possibly be all them mortgages held by Fannie/Freddie?

NAAAAAAAAAAAWWW!

It is much more than that. The Federal government and the fed combined are foreclosing on more homes than any bank. Beyond the alphabet soup agencies the Fed accepted the dirtiest of the mortgage backed securities not only as commercial bank reserves but as part of the bailout.

Remember all that talk about buying mortgage backed assets back in 2008?

Fed Assets Increase 2.3% on Buying of MBS, Treasuries (Update1) - Bloomberg

 

[loosecannon]

I thought Freddie and Fannie were secondary mortgage outlets? In any event, it feels odd to me that in a dispute between the citizenry and Big Business, Obama would side with Big Business. Reminds me of his response to the BP Oil Spill.

I dunno what a secondary mortgage outlet is but I know that Fannie and Freddie's primary business was first guaranteeing mortgages (does that sound like hell?) and second actually securitizing them.

Even if they don't own them they guaranteed half the mortgages in the US during the prime of the bubble. So all the losses could roll downhill onto them.

 

[Revere]

Ummm...Could it possibly be all them mortgages held by Fannie/Freddie?

NAAAAAAAAAAAWWW!

I thought Freddie and Fannie were secondary mortgage outlets? In any event, it feels odd to me that in a dispute between the citizenry and Big Business, Obama would side with Big Business. Reminds me of his response to the BP Oil Spill.

Because government was joined at the hip with that, too?

 

[william the wie]

There is also the matter of the recording of titles and mortgages and clerks offices saying that they have no record of many title changes much less the recording fees

 

[Quantum Windbag]

t r u t h o u t | As Fraud Scandal Grows, White House Opposes National Moratorium on Foreclosures

I have to say, I love this news feed. This is a tremendously important story that all the major news outlets seem to be ignoring.

Anyways, thoughts?

The longer all this drags on, the worse it is going to be. The only way the housing market, and the economy, will recover is if all those foreclosures that are pending go through.

Is this all about using auto-pens, Quantum Windbag?

No, it is about economics.

Foreclosure Mess Cited as Slowing Housing Recovery - WSJ.com

The longer the problems in the market last, the longer it will be before we recover. Obama has never been about the little guy, despite all his rhetoric. The only hope he has is if the economy recovers before 2012, and that will not happen if the feds start probing foreclosures that are completely legal.

 

[loosecannon]

The longer all this drags on, the worse it is going to be. The only way the housing market, and the economy, will recover is if all those foreclosures that are pending go through.

Is this all about using auto-pens, Quantum Windbag?

No, it is about economics.

Foreclosure Mess Cited as Slowing Housing Recovery - WSJ.com

The longer the problems in the market last, the longer it will be before we recover. Obama has never been about the little guy, despite all his rhetoric. The only hope he has is if the economy recovers before 2012, and that will not happen if the feds start probing foreclosures that are completely legal.

They aren't completely legal. They may not even be slightly legal. They ARE illegal.

And Obama and the fed aren't investigating them, 40 District Attorneys from 40 different states are investigating them.