Obama's $26 Billion Boondoggle On Banks And You

Discussion in 'Politics' started by mudwhistle, Feb 10, 2012.

  1. mudwhistle
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    mudwhistle Diamond Member

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    Ally Financial Inc., Bank of America Corp.,Citigroup Inc., J.P. Morgan Chase & Co., and Wells Fargo & Co. all agreed to a settlement to pay the US government up to $26 billion dollars for alleged foreclosure abuse.

    Problem is Democrats practically forced banks to make loans to people who couldn't pay them back. The banks then took these toxic loans, repackaged them and resold them over and over until they couldn't get any sucker to buy them.

    The settlement covers foreclosures from September 08' to December 2011.

    The end result is it allows Obama to buy a few cheap votes at $1200 to $2000 a pop.

    [​IMG]

    Links
    US To Settle Fraudclosure For $25 Billion Even As It Channels Fake Tough Guy In Meaningless Lawsuit Against Very Same Banks | ZeroHedge
    U.S., Banks Agree on $26 Billion Foreclosure Pact - WSJ.com
    What the Pact Means for Homeowners - WSJ.com
     
  2. Cammmpbell
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    Cammmpbell Senior Member

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    You're talking chicken feed. Have you forgotten the $870 billion bank fiasco planned and executed by Bush, Bernanke and Paulson. You Right Wingers are easy to figure. No matter what you do it's fine and no matter what Obama does is not. It's called Right White Whine!
     
  3. LoneLaugher
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    LoneLaugher Diamond Member

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    And....that sneaky bastard planned the hulabaloo over birth control to take over the news cycle and hide this terrible plan to help people from the electorate.
     
  4. mudwhistle
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    mudwhistle Diamond Member

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  5. mudwhistle
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    mudwhistle Diamond Member

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    Actually he bragged about this yesterday in a speech. He said it was to help people that paid their bills, and he also claimed he was going to help people that had foreclosures.

    The truth is all they're going to get is a little cash.
     
  6. LoneLaugher
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    LoneLaugher Diamond Member

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    Um.....sarcasm alert.
     
  7. G.T.
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    G.T. Diamond Member

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    Of course, you dont know the extent of the service that they get, or else you wouldn't be bitching.

    Also - not so sure why you'd be against this shit. The Banks all but admit to fraud by signing on, and your alternative is to let them get away with it? This is the Gov'ts alternative to long and expensive court cases. You should be thrilled but Noo000o000o.
     
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  8. Cammmpbell
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    Cammmpbell Senior Member

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    You should try to get used to that sneaky bastard. With that bunch of arrogant, egotistical clowns you're choosing from Obama will be re elected by a damn site.
     
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  9. zeke
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    zeke Gold Member

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    Oh bull shit. How many loans did you write and fund during the period you say the Dems were forcing banks to make shit loans?

    I wrote loans for a living. Brokers were finding more and more ways to part people from their money.
    They needed no help from Dems or anyone else. Greed became the ruling force in their business model. Well it did help alot when banking laws were broken down so that any swinging dick could get in the mortgage business.

    Why didn't the Rethugs in Congress bring a halt to the activity you say the Dems engaged in?
     
  10. rdean
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    rdean rddean

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    Republicans only like bailouts when it helps those already rich.

    When it comes to the middle class, their policy is, "Let them die".
     

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