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December 14, 2007 at 9:39 PM in reply to: Fire cleanup discovery….no re-bar in some (all?) foundations of Montelena (Rancho Bernardo) #117667
bsrsharma
ParticipantInterest rate ‘freeze’ – the real story is fraud
Bankers pay lip service to families while scurrying to avert suits, prison
Sean Olender
New proposals to ease our great mortgage meltdown keep rolling in. First the Treasury Department urged the creation of a new fund that would buy risky mortgage bonds as a tactic to hide what those bonds were really worth. (Not much.) Then the idea was to use Fannie Mae and Freddie Mac to buy the risky loans, even if it was clear that U.S. taxpayers would eventually be stuck with the bill. But that plan went south after Fannie suffered a new accounting scandal, and Freddie’s existing loan losses shot up more than expected.
Now, just unveiled Thursday, comes the “freeze,” the brainchild of Treasury Secretary Henry Paulson. It sounds good: For five years, mortgage lenders will freeze interest rates on a limited number of “teaser” subprime loans. Other homeowners facing foreclosure will be offered assistance from the Federal Housing Administration.
But unfortunately, the “freeze” is just another fraud – and like the other bailout proposals, it has nothing to do with U.S. house prices, with “working families,” keeping people in their homes or any of that nonsense.
The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value – right now almost 10 times their market worth.
The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates. The real problem is the contractual ability of investors in mortgage bonds to require banks to buy back the loans at face value if there was fraud in the origination process…………..
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/12/09/IN5BTNJ2V.DTL
ParticipantInterest rate ‘freeze’ – the real story is fraud
Bankers pay lip service to families while scurrying to avert suits, prison
Sean Olender
New proposals to ease our great mortgage meltdown keep rolling in. First the Treasury Department urged the creation of a new fund that would buy risky mortgage bonds as a tactic to hide what those bonds were really worth. (Not much.) Then the idea was to use Fannie Mae and Freddie Mac to buy the risky loans, even if it was clear that U.S. taxpayers would eventually be stuck with the bill. But that plan went south after Fannie suffered a new accounting scandal, and Freddie’s existing loan losses shot up more than expected.
Now, just unveiled Thursday, comes the “freeze,” the brainchild of Treasury Secretary Henry Paulson. It sounds good: For five years, mortgage lenders will freeze interest rates on a limited number of “teaser” subprime loans. Other homeowners facing foreclosure will be offered assistance from the Federal Housing Administration.
But unfortunately, the “freeze” is just another fraud – and like the other bailout proposals, it has nothing to do with U.S. house prices, with “working families,” keeping people in their homes or any of that nonsense.
The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value – right now almost 10 times their market worth.
The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates. The real problem is the contractual ability of investors in mortgage bonds to require banks to buy back the loans at face value if there was fraud in the origination process…………..
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/12/09/IN5BTNJ2V.DTL
ParticipantInterest rate ‘freeze’ – the real story is fraud
Bankers pay lip service to families while scurrying to avert suits, prison
Sean Olender
New proposals to ease our great mortgage meltdown keep rolling in. First the Treasury Department urged the creation of a new fund that would buy risky mortgage bonds as a tactic to hide what those bonds were really worth. (Not much.) Then the idea was to use Fannie Mae and Freddie Mac to buy the risky loans, even if it was clear that U.S. taxpayers would eventually be stuck with the bill. But that plan went south after Fannie suffered a new accounting scandal, and Freddie’s existing loan losses shot up more than expected.
Now, just unveiled Thursday, comes the “freeze,” the brainchild of Treasury Secretary Henry Paulson. It sounds good: For five years, mortgage lenders will freeze interest rates on a limited number of “teaser” subprime loans. Other homeowners facing foreclosure will be offered assistance from the Federal Housing Administration.
But unfortunately, the “freeze” is just another fraud – and like the other bailout proposals, it has nothing to do with U.S. house prices, with “working families,” keeping people in their homes or any of that nonsense.
The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value – right now almost 10 times their market worth.
The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates. The real problem is the contractual ability of investors in mortgage bonds to require banks to buy back the loans at face value if there was fraud in the origination process…………..
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/12/09/IN5BTNJ2V.DTL
ParticipantInterest rate ‘freeze’ – the real story is fraud
Bankers pay lip service to families while scurrying to avert suits, prison
Sean Olender
New proposals to ease our great mortgage meltdown keep rolling in. First the Treasury Department urged the creation of a new fund that would buy risky mortgage bonds as a tactic to hide what those bonds were really worth. (Not much.) Then the idea was to use Fannie Mae and Freddie Mac to buy the risky loans, even if it was clear that U.S. taxpayers would eventually be stuck with the bill. But that plan went south after Fannie suffered a new accounting scandal, and Freddie’s existing loan losses shot up more than expected.
Now, just unveiled Thursday, comes the “freeze,” the brainchild of Treasury Secretary Henry Paulson. It sounds good: For five years, mortgage lenders will freeze interest rates on a limited number of “teaser” subprime loans. Other homeowners facing foreclosure will be offered assistance from the Federal Housing Administration.
But unfortunately, the “freeze” is just another fraud – and like the other bailout proposals, it has nothing to do with U.S. house prices, with “working families,” keeping people in their homes or any of that nonsense.
The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value – right now almost 10 times their market worth.
The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates. The real problem is the contractual ability of investors in mortgage bonds to require banks to buy back the loans at face value if there was fraud in the origination process…………..
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/12/09/IN5BTNJ2V.DTL
ParticipantInterest rate ‘freeze’ – the real story is fraud
Bankers pay lip service to families while scurrying to avert suits, prison
Sean Olender
New proposals to ease our great mortgage meltdown keep rolling in. First the Treasury Department urged the creation of a new fund that would buy risky mortgage bonds as a tactic to hide what those bonds were really worth. (Not much.) Then the idea was to use Fannie Mae and Freddie Mac to buy the risky loans, even if it was clear that U.S. taxpayers would eventually be stuck with the bill. But that plan went south after Fannie suffered a new accounting scandal, and Freddie’s existing loan losses shot up more than expected.
Now, just unveiled Thursday, comes the “freeze,” the brainchild of Treasury Secretary Henry Paulson. It sounds good: For five years, mortgage lenders will freeze interest rates on a limited number of “teaser” subprime loans. Other homeowners facing foreclosure will be offered assistance from the Federal Housing Administration.
But unfortunately, the “freeze” is just another fraud – and like the other bailout proposals, it has nothing to do with U.S. house prices, with “working families,” keeping people in their homes or any of that nonsense.
The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value – right now almost 10 times their market worth.
The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates. The real problem is the contractual ability of investors in mortgage bonds to require banks to buy back the loans at face value if there was fraud in the origination process…………..
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/12/09/IN5BTNJ2V.DTL
ParticipantAverage car loan is $30,000 with a 61 month maturity
What are the usual "Average cars" driven by J6P? 32K seems a bit steep. Camry is 17-25K Invoice and 18-28K MSRP. F-150 starts 17K MSRP. And they can only pony up $1500 to buy these toys?
ParticipantAverage car loan is $30,000 with a 61 month maturity
What are the usual "Average cars" driven by J6P? 32K seems a bit steep. Camry is 17-25K Invoice and 18-28K MSRP. F-150 starts 17K MSRP. And they can only pony up $1500 to buy these toys?
ParticipantAverage car loan is $30,000 with a 61 month maturity
What are the usual "Average cars" driven by J6P? 32K seems a bit steep. Camry is 17-25K Invoice and 18-28K MSRP. F-150 starts 17K MSRP. And they can only pony up $1500 to buy these toys?
ParticipantAverage car loan is $30,000 with a 61 month maturity
What are the usual "Average cars" driven by J6P? 32K seems a bit steep. Camry is 17-25K Invoice and 18-28K MSRP. F-150 starts 17K MSRP. And they can only pony up $1500 to buy these toys?
ParticipantAverage car loan is $30,000 with a 61 month maturity
What are the usual "Average cars" driven by J6P? 32K seems a bit steep. Camry is 17-25K Invoice and 18-28K MSRP. F-150 starts 17K MSRP. And they can only pony up $1500 to buy these toys?
ParticipantGreat Places to Raise Kids—for Less
Family-oriented neighborhoods with the most affordable homes and the best schools may be hiding in places you’ve never heard of
Echelon, N.J.? Arapahoe, Neb.? Lackland, Tex.? You’ve probably never heard of most of the small towns that make up BusinessWeek.com’s 2007 list of the Best Places to Raise Your Kids. And there’s a reason: Tight-knit communities like to stay private.
Working with national real estate researcher OnBoard in New York City, BW came up with a list of 50 places in the U.S. that offer kids—and their parents—the right combination of safety, community, and education. Whether you’re expecting your first-born or preparing your kids for college, our list weighs the five criteria every parent should consider when choosing a new home: test scores, cost of living, recreational and cultural activities, number of schools, and risk of crime……
http://www.businessweek.com/investor/content/nov2007/pi20071115_554425.htm
ParticipantGreat Places to Raise Kids—for Less
Family-oriented neighborhoods with the most affordable homes and the best schools may be hiding in places you’ve never heard of
Echelon, N.J.? Arapahoe, Neb.? Lackland, Tex.? You’ve probably never heard of most of the small towns that make up BusinessWeek.com’s 2007 list of the Best Places to Raise Your Kids. And there’s a reason: Tight-knit communities like to stay private.
Working with national real estate researcher OnBoard in New York City, BW came up with a list of 50 places in the U.S. that offer kids—and their parents—the right combination of safety, community, and education. Whether you’re expecting your first-born or preparing your kids for college, our list weighs the five criteria every parent should consider when choosing a new home: test scores, cost of living, recreational and cultural activities, number of schools, and risk of crime……
http://www.businessweek.com/investor/content/nov2007/pi20071115_554425.htm
ParticipantGreat Places to Raise Kids—for Less
Family-oriented neighborhoods with the most affordable homes and the best schools may be hiding in places you’ve never heard of
Echelon, N.J.? Arapahoe, Neb.? Lackland, Tex.? You’ve probably never heard of most of the small towns that make up BusinessWeek.com’s 2007 list of the Best Places to Raise Your Kids. And there’s a reason: Tight-knit communities like to stay private.
Working with national real estate researcher OnBoard in New York City, BW came up with a list of 50 places in the U.S. that offer kids—and their parents—the right combination of safety, community, and education. Whether you’re expecting your first-born or preparing your kids for college, our list weighs the five criteria every parent should consider when choosing a new home: test scores, cost of living, recreational and cultural activities, number of schools, and risk of crime……
http://www.businessweek.com/investor/content/nov2007/pi20071115_554425.htm
ParticipantGreat Places to Raise Kids—for Less
Family-oriented neighborhoods with the most affordable homes and the best schools may be hiding in places you’ve never heard of
Echelon, N.J.? Arapahoe, Neb.? Lackland, Tex.? You’ve probably never heard of most of the small towns that make up BusinessWeek.com’s 2007 list of the Best Places to Raise Your Kids. And there’s a reason: Tight-knit communities like to stay private.
Working with national real estate researcher OnBoard in New York City, BW came up with a list of 50 places in the U.S. that offer kids—and their parents—the right combination of safety, community, and education. Whether you’re expecting your first-born or preparing your kids for college, our list weighs the five criteria every parent should consider when choosing a new home: test scores, cost of living, recreational and cultural activities, number of schools, and risk of crime……
http://www.businessweek.com/investor/content/nov2007/pi20071115_554425.htm
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