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truerates
truerates

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"If B of A forecloses on Ben B.'s residence, it just shows that there may be justice, after all. Was it not Mr. Bernanke that precipitated our present global financial catastrophe with his "Chicken Little" speech in July of 2007? That's the occasion when he decided to abandon the Fed's dual mandate of stable pricing and maximum employment in favor of meddling in the area of "consumer affairs" by publicly pointing an accusing finger at subprime lenders for funding bad..."    View Comment
"I confess to having mixed emotions about this event. The DOJ should have been in the mixture 15 years ago, with at least ten times the money they are alloted to investiogate mortgage fraud. Of course, at that time, mortgage fraud (fraud -- a felony) was only a $2 BILLION a year loss to the American taxpayer. Now, here we are with a shattered global economy and a do-nothing Fed and the DOJ goes after Allied. Why? Because it cost the GOVERNMENT $834 million! A mere bagatelle! If Congress would have..."    View Comment
"Yeah, I'm a big potential investor and what I'm really looking for is "a market where the private sector plays the dominant role in providing mortgage credit and bears the burden for losses." Couple that with low interest rates that will make my investment worthless in the face of inevitable future inflation that makes the pay-back dollar 5% or 6% or 10% or who knows how much less than the original capital dollar spent on the investment, which will wipe out all profit, and you better..."    View Comment
"Ben seems to be developing his own version of Mr. Greenspan's 'Fedspeak', ducking and dodging and parrying and thrusting like D'Artagnan holding off a squad of the king's guards. His mandate is "pricing stablility AND maximum employment, not pricing stability OR maximum employment. What we are stuck with is minimum inflation (inflation, by the way, is absolutely integral with economic growth) and maximum unemployment, as millions of former mortgage professionals are acutely..."    View Comment
"The real issue is fraud. Mortgage fraud is with us today, just as it was with us 5, 10 or 15 years ago. Why is it with us, constantly allowing bogus mortgages to be funded? The reason is that the Federal Justice Department and State and local legal agencies are not provided the same kind of financial support that is used for, for instance, bailouts. To enforce laws against fraud, especially high volume fraud like you see in the mortgage industry, you need a lot of experienced man-power and it just..."    View Comment
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