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CricketOnTheHearth
ParticipantDWCAP, here’s a Doc Ock tentacle to justify your spidey-sense tingle:
“If we look at the fundamentals of the S&P 500 we find a grim reality:
… That is right. At the end of last month the P/E ratio for the S&P 500 was 134! That is not cheap by any stretch of the imagination. When you put this on a chart it literally flies off the paper
…
(comment on graph: Who needs a man on the moon when we have the PE going there)”
–Dr. Housing Bubble (Scroll down)This was just a couple weeks ago. According to Dr HB’s chart, normal S&P 500 P/E ratios are historically 17 to 47. Now its up to 700??? Just unreal.
ParticipantDWCAP, here’s a Doc Ock tentacle to justify your spidey-sense tingle:
“If we look at the fundamentals of the S&P 500 we find a grim reality:
… That is right. At the end of last month the P/E ratio for the S&P 500 was 134! That is not cheap by any stretch of the imagination. When you put this on a chart it literally flies off the paper
…
(comment on graph: Who needs a man on the moon when we have the PE going there)”
–Dr. Housing Bubble (Scroll down)This was just a couple weeks ago. According to Dr HB’s chart, normal S&P 500 P/E ratios are historically 17 to 47. Now its up to 700??? Just unreal.
ParticipantDWCAP, here’s a Doc Ock tentacle to justify your spidey-sense tingle:
“If we look at the fundamentals of the S&P 500 we find a grim reality:
… That is right. At the end of last month the P/E ratio for the S&P 500 was 134! That is not cheap by any stretch of the imagination. When you put this on a chart it literally flies off the paper
…
(comment on graph: Who needs a man on the moon when we have the PE going there)”
–Dr. Housing Bubble (Scroll down)This was just a couple weeks ago. According to Dr HB’s chart, normal S&P 500 P/E ratios are historically 17 to 47. Now its up to 700??? Just unreal.
ParticipantBankster Shenanigans!
I noticed in the article that it said the loan servicers are the ones who benefit from the fees generated by delaying:
“Even when borrowers stop paying, mortgage companies that service the loans collect fees out of the proceeds when homes are sold in foreclosure. The longer borrowers remain delinquent, the greater the opportunities for these mortgage companies to extract revenue – fees for insurance, appraisals, title searches and legal services….
Mortgage companies, some of which are affiliated with the nation’s largest banks, are paid to manage pools of loans owned by investors. Under their contracts, the companies typically collect a percentage of the value of the loans they service. They extract their share regardless of whether borrowers are current on their payments. Indeed, their percentage often increases on delinquent loans.
Legal experts said the opportunities for additional revenue in delinquency are considerable, confronting mortgage companies
with a conflict between their financial interest in harvesting fees and their responsibility to collect as much as they can
for investors who own most mortgages.”In other words, the actual owners of the mortgages, who should be most interested in cleaning them up, are taking it in the shorts because the mortgages are actually being managed by others, who get off clean no matter what happens to the mortgages.
And then there is this bit of loveliness of which the mortgage originators are accused:
“Pratt, whose story we’ve been tracking, was “steered” into a sub-prime loan by Countrywide Financial. “Steering” is the polite term for forcing folk into crappy loan terms. And not just any folk: Black folk, like Pratt. Over 60% of African-American mortgage applicants were (and ARE) steered into “sub-prime” predatory loans.
According to exhaustive studies by the Federal Reserve Board and the Center for Responsible Lending (CRL), African Americans are 250% more likely to get a loan with an “exploding interest” clause than white borrowers – and notably, the higher the income and the better the credit rating of a Black borrower, the more likely the discrimination.”
This is anything but a “free” market. But we all knew that. The question is how much longer the banksters will be allowed to get away with it.
ParticipantBankster Shenanigans!
I noticed in the article that it said the loan servicers are the ones who benefit from the fees generated by delaying:
“Even when borrowers stop paying, mortgage companies that service the loans collect fees out of the proceeds when homes are sold in foreclosure. The longer borrowers remain delinquent, the greater the opportunities for these mortgage companies to extract revenue – fees for insurance, appraisals, title searches and legal services….
Mortgage companies, some of which are affiliated with the nation’s largest banks, are paid to manage pools of loans owned by investors. Under their contracts, the companies typically collect a percentage of the value of the loans they service. They extract their share regardless of whether borrowers are current on their payments. Indeed, their percentage often increases on delinquent loans.
Legal experts said the opportunities for additional revenue in delinquency are considerable, confronting mortgage companies
with a conflict between their financial interest in harvesting fees and their responsibility to collect as much as they can
for investors who own most mortgages.”In other words, the actual owners of the mortgages, who should be most interested in cleaning them up, are taking it in the shorts because the mortgages are actually being managed by others, who get off clean no matter what happens to the mortgages.
And then there is this bit of loveliness of which the mortgage originators are accused:
“Pratt, whose story we’ve been tracking, was “steered” into a sub-prime loan by Countrywide Financial. “Steering” is the polite term for forcing folk into crappy loan terms. And not just any folk: Black folk, like Pratt. Over 60% of African-American mortgage applicants were (and ARE) steered into “sub-prime” predatory loans.
According to exhaustive studies by the Federal Reserve Board and the Center for Responsible Lending (CRL), African Americans are 250% more likely to get a loan with an “exploding interest” clause than white borrowers – and notably, the higher the income and the better the credit rating of a Black borrower, the more likely the discrimination.”
This is anything but a “free” market. But we all knew that. The question is how much longer the banksters will be allowed to get away with it.
ParticipantBankster Shenanigans!
I noticed in the article that it said the loan servicers are the ones who benefit from the fees generated by delaying:
“Even when borrowers stop paying, mortgage companies that service the loans collect fees out of the proceeds when homes are sold in foreclosure. The longer borrowers remain delinquent, the greater the opportunities for these mortgage companies to extract revenue – fees for insurance, appraisals, title searches and legal services….
Mortgage companies, some of which are affiliated with the nation’s largest banks, are paid to manage pools of loans owned by investors. Under their contracts, the companies typically collect a percentage of the value of the loans they service. They extract their share regardless of whether borrowers are current on their payments. Indeed, their percentage often increases on delinquent loans.
Legal experts said the opportunities for additional revenue in delinquency are considerable, confronting mortgage companies
with a conflict between their financial interest in harvesting fees and their responsibility to collect as much as they can
for investors who own most mortgages.”In other words, the actual owners of the mortgages, who should be most interested in cleaning them up, are taking it in the shorts because the mortgages are actually being managed by others, who get off clean no matter what happens to the mortgages.
And then there is this bit of loveliness of which the mortgage originators are accused:
“Pratt, whose story we’ve been tracking, was “steered” into a sub-prime loan by Countrywide Financial. “Steering” is the polite term for forcing folk into crappy loan terms. And not just any folk: Black folk, like Pratt. Over 60% of African-American mortgage applicants were (and ARE) steered into “sub-prime” predatory loans.
According to exhaustive studies by the Federal Reserve Board and the Center for Responsible Lending (CRL), African Americans are 250% more likely to get a loan with an “exploding interest” clause than white borrowers – and notably, the higher the income and the better the credit rating of a Black borrower, the more likely the discrimination.”
This is anything but a “free” market. But we all knew that. The question is how much longer the banksters will be allowed to get away with it.
ParticipantBankster Shenanigans!
I noticed in the article that it said the loan servicers are the ones who benefit from the fees generated by delaying:
“Even when borrowers stop paying, mortgage companies that service the loans collect fees out of the proceeds when homes are sold in foreclosure. The longer borrowers remain delinquent, the greater the opportunities for these mortgage companies to extract revenue – fees for insurance, appraisals, title searches and legal services….
Mortgage companies, some of which are affiliated with the nation’s largest banks, are paid to manage pools of loans owned by investors. Under their contracts, the companies typically collect a percentage of the value of the loans they service. They extract their share regardless of whether borrowers are current on their payments. Indeed, their percentage often increases on delinquent loans.
Legal experts said the opportunities for additional revenue in delinquency are considerable, confronting mortgage companies
with a conflict between their financial interest in harvesting fees and their responsibility to collect as much as they can
for investors who own most mortgages.”In other words, the actual owners of the mortgages, who should be most interested in cleaning them up, are taking it in the shorts because the mortgages are actually being managed by others, who get off clean no matter what happens to the mortgages.
And then there is this bit of loveliness of which the mortgage originators are accused:
“Pratt, whose story we’ve been tracking, was “steered” into a sub-prime loan by Countrywide Financial. “Steering” is the polite term for forcing folk into crappy loan terms. And not just any folk: Black folk, like Pratt. Over 60% of African-American mortgage applicants were (and ARE) steered into “sub-prime” predatory loans.
According to exhaustive studies by the Federal Reserve Board and the Center for Responsible Lending (CRL), African Americans are 250% more likely to get a loan with an “exploding interest” clause than white borrowers – and notably, the higher the income and the better the credit rating of a Black borrower, the more likely the discrimination.”
This is anything but a “free” market. But we all knew that. The question is how much longer the banksters will be allowed to get away with it.
ParticipantBankster Shenanigans!
I noticed in the article that it said the loan servicers are the ones who benefit from the fees generated by delaying:
“Even when borrowers stop paying, mortgage companies that service the loans collect fees out of the proceeds when homes are sold in foreclosure. The longer borrowers remain delinquent, the greater the opportunities for these mortgage companies to extract revenue – fees for insurance, appraisals, title searches and legal services….
Mortgage companies, some of which are affiliated with the nation’s largest banks, are paid to manage pools of loans owned by investors. Under their contracts, the companies typically collect a percentage of the value of the loans they service. They extract their share regardless of whether borrowers are current on their payments. Indeed, their percentage often increases on delinquent loans.
Legal experts said the opportunities for additional revenue in delinquency are considerable, confronting mortgage companies
with a conflict between their financial interest in harvesting fees and their responsibility to collect as much as they can
for investors who own most mortgages.”In other words, the actual owners of the mortgages, who should be most interested in cleaning them up, are taking it in the shorts because the mortgages are actually being managed by others, who get off clean no matter what happens to the mortgages.
And then there is this bit of loveliness of which the mortgage originators are accused:
“Pratt, whose story we’ve been tracking, was “steered” into a sub-prime loan by Countrywide Financial. “Steering” is the polite term for forcing folk into crappy loan terms. And not just any folk: Black folk, like Pratt. Over 60% of African-American mortgage applicants were (and ARE) steered into “sub-prime” predatory loans.
According to exhaustive studies by the Federal Reserve Board and the Center for Responsible Lending (CRL), African Americans are 250% more likely to get a loan with an “exploding interest” clause than white borrowers – and notably, the higher the income and the better the credit rating of a Black borrower, the more likely the discrimination.”
This is anything but a “free” market. But we all knew that. The question is how much longer the banksters will be allowed to get away with it.
ParticipantThe citizenship part is a red herring. To me the main event is the hypocrisy.
Can you imagine if a reservist had refused deployment orders on the grounds that Bush is AWOL from the TX National Guard? The osik would have been hitting the fan by the ton! Fox news commentators would have been bouncing off the ceiling tiles about “failure to respect the office” and “disobeying a lawful order” and “treason” etc etc. But about this? Crickets….
History is clear that partisans demand unquestioning “respect for the office” of President only when it is their President.
ParticipantThe citizenship part is a red herring. To me the main event is the hypocrisy.
Can you imagine if a reservist had refused deployment orders on the grounds that Bush is AWOL from the TX National Guard? The osik would have been hitting the fan by the ton! Fox news commentators would have been bouncing off the ceiling tiles about “failure to respect the office” and “disobeying a lawful order” and “treason” etc etc. But about this? Crickets….
History is clear that partisans demand unquestioning “respect for the office” of President only when it is their President.
ParticipantThe citizenship part is a red herring. To me the main event is the hypocrisy.
Can you imagine if a reservist had refused deployment orders on the grounds that Bush is AWOL from the TX National Guard? The osik would have been hitting the fan by the ton! Fox news commentators would have been bouncing off the ceiling tiles about “failure to respect the office” and “disobeying a lawful order” and “treason” etc etc. But about this? Crickets….
History is clear that partisans demand unquestioning “respect for the office” of President only when it is their President.
ParticipantThe citizenship part is a red herring. To me the main event is the hypocrisy.
Can you imagine if a reservist had refused deployment orders on the grounds that Bush is AWOL from the TX National Guard? The osik would have been hitting the fan by the ton! Fox news commentators would have been bouncing off the ceiling tiles about “failure to respect the office” and “disobeying a lawful order” and “treason” etc etc. But about this? Crickets….
History is clear that partisans demand unquestioning “respect for the office” of President only when it is their President.
ParticipantThe citizenship part is a red herring. To me the main event is the hypocrisy.
Can you imagine if a reservist had refused deployment orders on the grounds that Bush is AWOL from the TX National Guard? The osik would have been hitting the fan by the ton! Fox news commentators would have been bouncing off the ceiling tiles about “failure to respect the office” and “disobeying a lawful order” and “treason” etc etc. But about this? Crickets….
History is clear that partisans demand unquestioning “respect for the office” of President only when it is their President.
July 15, 2009 at 12:46 PM in reply to: Time lapsed film comparing real estate values and median incomes #431289ParticipantCool little video but I don’t entirely understand it. The orange bars are just housing prices? Or some ratio of housing prices to local income? ‘Cause I have to think that household incomes varied among these cities too.
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