[Rich Toscano]

Thanks guys…

Rich

[Rich Toscano]

Thanks guys…

Rich

[Rich Toscano]

Thanks guys…

Rich

[Rich Toscano]

Thanks guys…

Rich

[Rich Toscano]

[quote=davelj]I’m not saying he’s wrong, but… I’m filing this under: I’m Talking My Own Book, By the Way.[/quote]

Haha… my thoughts exactly!

[Rich Toscano]

[quote=davelj]I’m not saying he’s wrong, but… I’m filing this under: I’m Talking My Own Book, By the Way.[/quote]

Haha… my thoughts exactly!

[Rich Toscano]

[quote=davelj]I’m not saying he’s wrong, but… I’m filing this under: I’m Talking My Own Book, By the Way.[/quote]

Haha… my thoughts exactly!

[Rich Toscano]

[quote=davelj]I’m not saying he’s wrong, but… I’m filing this under: I’m Talking My Own Book, By the Way.[/quote]

Haha… my thoughts exactly!

[Rich Toscano]

[quote=davelj]I’m not saying he’s wrong, but… I’m filing this under: I’m Talking My Own Book, By the Way.[/quote]

Haha… my thoughts exactly!

[Rich Toscano]

[quote=walterwhite]rich wrote:

But I am definitely not in favor of bank”st”ers, or of them skirting the law unpunished,

and i reply:

NOOOOOOO!!! if that’s the case, then the investors win. MBS transactions undone. Banks owe trillions. BANKS implode. govt attempts to reinflate. epic fail. we all die in a giant blazing ball of dung.

and why are parasites necessarily such a bad thing? arent they necessary in the natural order of things.[/quote]

First of all, I am not in the school of thought that thinks that coddling the oversized, parasitic financial industry somehow HELPS the rest of society in anything but the shortest of terms. That said, I am not suggesting the dire scenario you outline above. The banks can be punished (fined? people going to jail?) for breaking the law without necessarily undoing every single MBS transaction that ever happened.

I spoke to my real estate lawyer friend on Tues and his opinion was that you have a certain amount of time to appeal a foreclosure (60 days in CA), and if you haven’t done so by then, you are out of luck. So he doesn’t think this is going to undo every foreclosure or title transfer in history like some people do (though he acknowledges that the class action guys might find some way to end run around this).

[Rich Toscano]

[quote=walterwhite]rich wrote:

But I am definitely not in favor of bank”st”ers, or of them skirting the law unpunished,

and i reply:

NOOOOOOO!!! if that’s the case, then the investors win. MBS transactions undone. Banks owe trillions. BANKS implode. govt attempts to reinflate. epic fail. we all die in a giant blazing ball of dung.

and why are parasites necessarily such a bad thing? arent they necessary in the natural order of things.[/quote]

First of all, I am not in the school of thought that thinks that coddling the oversized, parasitic financial industry somehow HELPS the rest of society in anything but the shortest of terms. That said, I am not suggesting the dire scenario you outline above. The banks can be punished (fined? people going to jail?) for breaking the law without necessarily undoing every single MBS transaction that ever happened.

I spoke to my real estate lawyer friend on Tues and his opinion was that you have a certain amount of time to appeal a foreclosure (60 days in CA), and if you haven’t done so by then, you are out of luck. So he doesn’t think this is going to undo every foreclosure or title transfer in history like some people do (though he acknowledges that the class action guys might find some way to end run around this).

[Rich Toscano]

[quote=walterwhite]rich wrote:

But I am definitely not in favor of bank”st”ers, or of them skirting the law unpunished,

and i reply:

NOOOOOOO!!! if that’s the case, then the investors win. MBS transactions undone. Banks owe trillions. BANKS implode. govt attempts to reinflate. epic fail. we all die in a giant blazing ball of dung.

and why are parasites necessarily such a bad thing? arent they necessary in the natural order of things.[/quote]

First of all, I am not in the school of thought that thinks that coddling the oversized, parasitic financial industry somehow HELPS the rest of society in anything but the shortest of terms. That said, I am not suggesting the dire scenario you outline above. The banks can be punished (fined? people going to jail?) for breaking the law without necessarily undoing every single MBS transaction that ever happened.

I spoke to my real estate lawyer friend on Tues and his opinion was that you have a certain amount of time to appeal a foreclosure (60 days in CA), and if you haven’t done so by then, you are out of luck. So he doesn’t think this is going to undo every foreclosure or title transfer in history like some people do (though he acknowledges that the class action guys might find some way to end run around this).

[Rich Toscano]

[quote=walterwhite]rich wrote:

But I am definitely not in favor of bank”st”ers, or of them skirting the law unpunished,

and i reply:

NOOOOOOO!!! if that’s the case, then the investors win. MBS transactions undone. Banks owe trillions. BANKS implode. govt attempts to reinflate. epic fail. we all die in a giant blazing ball of dung.

and why are parasites necessarily such a bad thing? arent they necessary in the natural order of things.[/quote]

First of all, I am not in the school of thought that thinks that coddling the oversized, parasitic financial industry somehow HELPS the rest of society in anything but the shortest of terms. That said, I am not suggesting the dire scenario you outline above. The banks can be punished (fined? people going to jail?) for breaking the law without necessarily undoing every single MBS transaction that ever happened.

I spoke to my real estate lawyer friend on Tues and his opinion was that you have a certain amount of time to appeal a foreclosure (60 days in CA), and if you haven’t done so by then, you are out of luck. So he doesn’t think this is going to undo every foreclosure or title transfer in history like some people do (though he acknowledges that the class action guys might find some way to end run around this).

[Rich Toscano]

[quote=walterwhite]rich wrote:

But I am definitely not in favor of bank”st”ers, or of them skirting the law unpunished,

and i reply:

NOOOOOOO!!! if that’s the case, then the investors win. MBS transactions undone. Banks owe trillions. BANKS implode. govt attempts to reinflate. epic fail. we all die in a giant blazing ball of dung.

and why are parasites necessarily such a bad thing? arent they necessary in the natural order of things.[/quote]

First of all, I am not in the school of thought that thinks that coddling the oversized, parasitic financial industry somehow HELPS the rest of society in anything but the shortest of terms. That said, I am not suggesting the dire scenario you outline above. The banks can be punished (fined? people going to jail?) for breaking the law without necessarily undoing every single MBS transaction that ever happened.

I spoke to my real estate lawyer friend on Tues and his opinion was that you have a certain amount of time to appeal a foreclosure (60 days in CA), and if you haven’t done so by then, you are out of luck. So he doesn’t think this is going to undo every foreclosure or title transfer in history like some people do (though he acknowledges that the class action guys might find some way to end run around this).

[Rich Toscano]

[quote=BigGovernmentIsGood]
No, I’m not saying that they would approve of it. The prevailing attitude here is that only irresponsible people are getting foreclosed upon. However, that is not always the case.

What I’m saying is that most Piggs probably don’t care whether the rule of law is followed when a borrower who isn’t making their payments gets foreclosed upon. However, if the banksters get away with not following the law and foreclosing on people who aren’t making their payments what is to stop them from then not following the law and foreclosing upon people who are making payments?[/quote]

Alright, well that makes sense when you explain it that way. But I think you are conflating two different things. I think that most people would agree that lenders should follow the law/rules, and if they don’t, they should be punished and made to start doing it right. However, that’s very different from saying that someone who stopped paying their mortgage should get a get out of jail free just because the documents weren’t filed right.

I (and presumably the piggs you are referring to) am against non-mortgage-paying homeowners getting a free house based on a technicality. But I am definitely not in favor of bank”st”ers, or of them skirting the law unpunished, or of legitimately mistaken foreclosures not having some recourse.

(And as context and to emphasize that first point, I think that a huge portion of the financial industry serves only as a giant parasite on the productive economy, and that the financial industry bailout has been/continues to be an economic and moral catastrophe).

[Author]

Posts