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California breaks from 50-state probe into mortgage lenders

California Atty. Gen. Kamala Harris will no longer take part in a national foreclosure probe of some of the nation’s biggest banks, which are accused of pervasive misconduct in dealing with troubled homeowners.

Harris removed herself from talks by a coalition of state attorneys general and federal agencies investigating abusive foreclosure practices because the nation’s five largest mortgage servicers were not offering California homeowners relief commensurate to what people in the state had suffered, Harris told The Times on Friday.

The big banks were also demanding to be granted overly broad immunity from legal claims that could potentially derail further investigations into Wall Street’s role in the mortgage meltdown, Harris said.

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  • charles a pembroke

    Does this have anything to do with congress passing laws to make sure everyone has a home with no down payment,no way to pay.And then looking for scapegoats to fix their mistakes?People still are not paying their bills for the homes they are stealing.Congress made this mess and now the crooks are investigating themselves.Cmon give me a break.Get someone from the outside to investigate.I don’t feel sorry for people who brought homes they knew or should have that they couldn’t pay for.The tax payers are going to end up paying for homes for freeloader welfare people.The tax payers get hit again for the laws that congress makes.Let’s take a look at what the law did first.Then go after the banks whose money it was that people were stealing.Lets go to how this was started in the first place.In the beginning there was congress.lets start there.

    • Andy

      In actuality, this began as a Democratic Program. Barney Frank was questioned and denied there was any problem and that anyone questioning such a program or judgement call was being ridiculous. So, if you really want to go after someone, let’s get specific. Get the Democrats out of Congress and we might stand a fighting chance of getting this “fixed”. Although, at this stage, am not sure how this major debacle can ever be resolved!

    • jb80538

      Congress ok’d it because Clinton pushed for it. Republican congressman warned them of the impending problems. Bawny Frank and company denied there was going to be any problems and would do nothing about it. Zero down and 107% loan to value and 2nd mortgages to 125% of value were the problem. Go figure.

      • larry

        Big,thanks,finally i see right answer.Clinton’s who started this mess
        because they hope welfare people vote for them(now they try to put the
        doughter to senate). Oh, how good it will.

      • Kay

        This is totally correct. What you are explaining is the cause of this countries recession/depression. Those idots should be scolded (or worse) in the news media for what they did to our country.

    • gonzales27

      Part of Barrys campaign promise to supread it around

      • Intelligent Conservative

        Get you facts (and your people) straight. Buch as I despise Obama and all he has done to hurt this country, he is not responsible for the housing crisis. Like others above have said, this started back as far as the Clinton administration.

      • john t r sr

        hello poncho gonzales, do you know what time it is? it’s deport time.

        • lou

          Dude your a dumbass

        • Neil R

          To john tr sr:
          A Latino surname is NOT an indicator of being an illegal alien, sir! Some Latino families were in America BEFORE this became the U.S., and therefore their families automatically became its citizens, probably BEFORE your family, dude! And, unless you personally know the ‘gonzales27′ you were addressing to actually be an illegal alien, you owe him an apology! In any case, your bias is disgusting!

          • reinhold

            GONZALES Please allow me to apologize for:
            john t r sr says:
            October 1, 2011 at 2:32 pm
            hello poncho gonzales, do you know what time it is? it’s deport time.
            Reply

            YOU object and demand an apology from one who merely expressed his view concerning your numerous kinfolk having adopted the name PONCHO GONZALES.

            This name has been recognized a common euphemism for “Spic” which is of course short for Hispanic. Sort of like people that call Germans like me a “Kraut.”

            LATINO Definition: a Latin American inhabitant of the United States.

            Obviously a “Latin American” can stand anywhere. An American can be anyone of a group who espouse they are aboriginal natives of Two vast Continents joined by a small and narrow sub-continent all of which claim LATIN name. AMERICA for the great Italian Explorer Americus Vespucci. The name was placed on the maps used by Amricus Vespucci to prove the true nature of the Continents of America by the German Christian scholar, Waldseemuller. Thus it can be said that this land is not that of unknowable alien tribes but was defined and developed and CIVILIZED by the European Christian CULTURE. The wondering tribes were both good and bad but they can never claim to have established the Society that brought the blessings that aliens now seek to destroy.

            Catagorically a “Latino” name is synonomous with “Half- Breed or Mulatto. Latin is a member ofthe Italic brabch of the Indo-European family of Language. And as it is axiomatic that Language reflect culture it would appear that you and your forebears are biological and social mongrels. Thus it follows that you have NO CULTURE AT ALL because multi-culture constitutes destruction the inherent cultures now professing to be multiple.

            From this we deduce that those like your offended Gonzaloses probably had mothers having been indoctrinated with any one of the Mexican Cultural Tribes listed here.

            Acatec Indian tribe Amuzgo Indian tribe Chatino Indian tribe Chiapaneca Indian tribe Chichimeca Indian tribe
            Chicomuceltec Indian tribe Chinanteco Indian tribe Chocho Indian tribe Ch’ol Indian tribe Chuj Indian tribe
            Cochimi Indian tribe Cocopa Indian tribe Cora Indian tribe Cuicateco Indian tribe Guarijio Indian tribe
            Huasteco Indian tribe Huave Indian tribe Huichol Indian tribe Ixcateco Indian tribe Jacalteco Indian tribe
            Kickapoo Indian tribe Kiliwa Indian tribe Kumiai Indian tribe Lacandon Indian tribe Mam Indian tribe
            Matlatzinca Indian tribe Mazahua Indian tribe Mazatec Indian tribe Mixe Indian tribe Mixtec Indian tribe
            Mocho Indian tribe Nahuatl/Mexica Indian tribe Oaxaca Chontal tribe Opata Indian tribe Otomi Indian tribe
            Paipai Indian tribe Pame Indian tribe Pima Bajo Indian tribe Popoloca Indian tribe Popoluca Indian tribe
            Purepecha Indian tribe Seri Indian tribe Tabasco Chontal tribe Tacaneco Indian tribe Tarahumara Indian tribe
            Tectiteco Indian tribe Tepehua Indian tribe Tepehuan Indian tribe Tlahuica Indian tribe Tlapanec Indian tribe
            Tojolabal Indian tribe Toltec Indian tribe Totonac Indian tribe Trique Indian tribe Tubar Indian tribe
            Tzeltal Indian tribe Tzotzil Indian tribe Yaqui Indian tribe Yucatec Maya Indian tribe Zapotec Indian tribe

            The mothers of Hispanics, desperate for food mated with the Spanish Racial Mongrel Conquistadores who were of course tainted with the Roman Multi Culture. The mothers took the names of their paramours because they were incapable of taking any other course. Hence the descendants who were obviously confused with many other unknowable races and cultures carried on your name GONZALES. How could you know? Instead of applying plain scholarship to understand your circumstance you listen to the JEW and simply regurgitate your Multi-Cultural Myth. Now you hope to compel all others to redefine your Bastardized Heritage. To learn where you are headed with this folly you can visit India where the doctrine that you teach originated among the most complex admixture of cultures in all the world. That rule of that doctrine is expressed by King Osaka who declared and enforced the doctrine of TOLERANCE with his anti-Christian law:

            “One shall not condemn another religion or race by word or deed.”

            King Asoka Founder of Buddhism

            “Thou art the ruler of all minds” National anthem of India

          • WildBillCody

            To John Tr. sr:. I agree with Neil R…I am a tea party member but still respect the Latino culture and the ones that are here legally…actually most Latinos’ lean to the right on conservative issues…I welcome them support for the upcoming November 2012 election to elect conservatives to turn this nation around..

          • ted

            agreed! that kind of ignorance is wrong. I’m 4 generation before CA was a state. but, I agree about the Illegal’s.

        • Bushmaster66-68

          @ john t r sr. JERK!!!!!

          • Dave

            As a republican living in the liberal wasteland of California I respectfully request that you give Ms. Pelosi (and the rest of her liberal girlfriends that are running businesses out of the state with all their anti-business foolishness) to China. There is a lot here worth saving!

        • Frank

          Nice try…You sound like progressive plant! Why not go back to reading and commenting over at media matters!

    • PATTYG

      Please don’t be too fast to demonize some that can’t pay their mortgage i agree that some took advantage,but my son went from making $85 an hour with his own business to $20 per.and lost his business (construction) he is trying to get the payments lowered but the bank is no help they would rather take his house,sell it cheap,and lose money ,then lower his pymt. So don’t be too fast to judge! GOD BLESS!

      • Dave

        Actually, our great leaders have blessed the banks. They are guaranteed 85% of the loan value AND they can repo the home and see it for whatever they can get – often 60-75% of the market value. They can make 150%. They have an incentive to forclose and not to help the home owner by modifying the loan

    • teaman

      No, in the beginning there was the Dummycrats led by Barney Frank and his homo lover. In the last two years of Bush administration, after Dummycrats won control of both houses, Bush warned congress about this problem and Barney Frank told him to go the hell. The Dummycrats had the help of ACORN of which The Obambulating Manure Spreader is a life time member. ACRON, with the help of Dummycratic Congress, applied pressure on banks to make bad loans.
      Just like Dummycrats are responsible for the dumming down of our education system by using the same practices they are completely responsible for the housing mess.
      Just like the Black Panthers, no one will ever be prosecuted unless they are a Republican.

      • ROSEBUD

        IT WAS BILL CLINTON WHO REINSITUTED THE COMMUNITY RE-INVESTMENT ACT ORIGINATED IN LATE 70’S BY CARTER. HE FORCED THE FED TO LOWER CREDIT STANDARDS TO NO DPWN PAYMENT, NO CREDIT CHECK & NO JOB. HE DIDNT’ CARE IF THEY WERE ON WELFARE OR UNPLOYMENT, THEY COULD STILL OWN A HOUSE. WHAT WAS HE THINKING? THE DEMONCRATIC CONGRESS FORCED THE BANKS WITH LOWER RATINGS IF THEY DIDN’T COMPLY. THIS LED TO SUBPRIME MORTGAGE LENDING BY ALL, NOT JUST THE BANKS. CLINTON USED HUD/ANDREW CUOMO TO TAKE “ADDIRMATIVE ACTION” LOANS THAT WERE PLACED WITH FANNIE MAE & FREDDIE MAC. THESE LOAN WERE BUNDLED & SOLD TO OTHER BANKS, HEDGE FUNDS & INVESTMENT INSTITUTIONS WORLDWIDE. THIS IS WHY EUROPE HAS THE SAME PROBLEMS. WHEN THE LOANS DEFAULTED, THE BANKS STARTED FAILING. WHEN BUSH CAME IN HE SAW F & F WERE HEADED FOR TROUBLE & HE ASKED CO NGRESS 17 TIMES TO REIN IN THE BANKS BUT FRANK, DODD & MAXINE WATERS WENT BEORE HEARINGS CLAIMING THERE WERE NO PROBLEMS WITH THE BANKS.
        OBAMA WAS WORKING AS A COMMUNITY ORGANIZER FOR ACORN SHAKING DOWN BANKS IN TH ESOUTHSIDE OF CHICAGO UNDER THREAT OF A LAWSUIT. HE GOT HIS LAW DEGREE TO TO REPRESENTACORN IN COURT FIGHTING THE BANKS. IT IS SUSPECTED ACORN PAID FOR HIS LAW DEGREE.
        CLINTON STARTED THIS MESS BUT THE MEDIA NEVER FOCUSES ON HIM, ALL LIBERALS ARE EXCUSED FROM THIS MESS. OBAMA CONTINUED TO BLAME BUSH WHEN IT STARTED BEFORE HE CAME INTO OFFICE. THIS WAS MENTIONED IN ONE CLIP ON TV WHEN BARNEY FRANK SAID THE SAME THING ONCE HE PICKED UP THE OBAMA TALKING POINTS & ALL THE LEMMINGS CALLED DEMONCRATS, REPEAT THE SAME TALKING POINTS AS IF THEY ARE FACT. PATHETIC, I READ IT EVERY DAY IN EDITORIAL LETTERS. ALL THEY HAVE TO DO IS READ THE MANY ARTICLES ABOUT THE CRA & BILL CLINTON OR RESEARCH ARTICLES BY INVESTORS BUSINESS DAILY WHICH IS A NON-PARTISAN FINANCIAL NEWSPAPER. OBAMA WORKED AS UNION ORGANIZER FOR SEIU AS WELL AS THEY ARE TIED TO ACORN WHO NOW GOES BY NUMEROUS NAMES SINCE THEY WERE DEFUNDED BY CONGRESS BUT NOW OPERATE BY GETTING FUNDED THROUGH HUD BY OBAMA. LOOK IT UP. UNIONS, BANKS & CORPORATIONS GOT OBAMA ELECTED & THEY WILL AGAIN IF THIS COUNTRY DOESN’T BRING ALL THE CORRUPTION OF THIS ADMINISTRATION WITH ITS MANY COMMUNISTS CZARS WHOA RE ALL WORKING TO TAKE T OUR COUNTRY DOWN SO THE GOVERNMENT CAN TAKE OVER YOUR LIFE AS THEY DID WITH GM & EVERYTHING ELSE . WE HAVE NO OIL, NO GAS, NO ENERGY & PAY THROUGH THE NOSE FOR EVERYTHING BUT AFTER ALL THINGS ARE JUST AS BAD FOR THE OBAMA’S NOW THAT WE KNOW MICHELLE SHOPS WITH THE AP IN TARGET. ( & 4 SECRET SERVICE FOR A PHOTO OP) GIVE ME A BREAK! JUST MAKE SURE YOU GET IT RIGHT. BUSH WASN’T IN OFFICE WHEN THE COMMUNITY REINVESTMENT ACT WAS SIGNED, IT WAS BY BILL CLINTON & THE DEOMNCRATS IN CPNGRESS WHO FORCED THE BANKS SO NOW THE BANKS HAVE TAKEN ALL THE ABUSE FROM OBAMA CALLING THEM THE “FAT CATS” ON WALL ST. & BLAMING THEM WHEN IT WAS CONGRESS (BARNEY FRANK) WHO FORCED THIS MESS ON THEM. NOW WE HAVE ADODD-FRANK BILL THA TIS ALREADY REAKING HAVOC ON US FOR BANK FEES THAT THEY CAUSED. THE BANKS HAVE TO GET THE MONEY BACK FROM THEIR CUSTOMERS SOMEHOW SO WHO PAYS ? THE TAXPAYERS WHO DIDN’T EVEN HAVE A MORTGAGE WITH THEM ARE PAYING FOR THE COLLAPSE OF THE BANKS WHEN THEY HAD NOTHING TO DO WITH THIS MESS. IT’S ALL REDISTRIBUTION OF WEALTH. THIS IS TH EOBAMA AGENDA. THE SOCIALIST/MARXIST/COMMUNIST WHO IS GIVING AWAY MILLIONS TO SOLAR ENERGY SCAMS INSTEAD OF BAILING OUT THE COUNTRY FIRST. WE MUST GET RID OF THE FRAUD IN THE WHITEHOUSE FIRST & TAKE OUR COUNTRY BACK!

      • http://cowboybyte.com Clinging to My Religion and My Guns

        It all started, as a previous poster stated, with Bill Clinton signing a U.N. treaty to provide low cost housing for the “poor.” He then started to pressure the banks to give loans to people that had no business buying a house and should have remained renters, some of which were in $500,000 dollar homes.
        It was all part of a plan to give minorities and illegal aliens the “American Dream on a Silver Platter” along with Social Security, Health Care and so on, in exchange for their votes. The only requirement for the loan was to sign up for a credit counseling course! So, you had thousands of homes being sold to people, some of which had no jobs! and guess who got stuck with the bill? The American Taxpayer AKA you and me! The rest they say is history, along with the 6 trillion they stold out of our retirement funds when the housing bubble burst because the very brokers and bankers that Obama and the Debtocrats bailed out with our tax money invested everybody’s retirements into this happy horsedung!
        It is just one phase of their dog crap agenda to bring our beloved America to her knees and reduce the standard of living to third world status. We are now in the “next phase” of bottomless spending, paralyzing taxation and debilitating regulations designed to squash any hope of recovery and it only gets worse from here. Liberals are “sleepwalking” us into smaller incomes, smaller homes, smaller cars, and smaller lives! We will soon be the hot, hungry masses huddled in 1950 Sovite-style 2 room apartments while the Progressive-Liberal Rich have fled offshore to New Zealand, Bermuda, or Martha’s Vineyard! This all has to stop next November or your children will wake up slaves on the continent their Forefathers conquered.

        “During times of deceit, telling the truth is a revolutionary act.”
        — George Orwell…”1984.”
        “The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them.”
        — Patrick Henry

    • sc

      well look like the politicans in Mexifornia are still looking for a free ride on the taxpayers dime, “Harris removed herself from talks by a coalition of state attorneys general and federal agencies investigating abusive foreclosure practices because the nation’s five largest mortgage servicers were not offering California homeowners relief commensurate to what people in the state had suffered, Harris told The Times on Friday.”

    • Infidel

      HOW THE MORTGAGE SYSTEM WORKS:

      Buyer borrows from a lender/bank to buy a home.

      Bank/lender sells the Mortgage Note to Fannie/Freddie (most loans) or packaged the sub-prime mortgages to sell on Wall Street.
      Bank handles Loan Servicing and profits that way.

      Fannie/Freddie & Wall Street sell Mortgage Note packages to INVESTORS.
      Who is the main Investor in America?
      The CHINESE hold a Huge number of these mortgages.

      America is being foreclosed on by the CHINESE that’s the bad news.
      Good news is the Chinese are getting less than 50 cents on a dollar invested.

      • WildBillCody

        good point…I would love to sell them the State of California and we call it “Even-Steven”…even give them ownership rights to Nancy Pelosi to sweeten the deal…no need to renounce her US citizenship…she’s a hard core practicing socialist already…instead of being paid off by special interest groups, she could get direct payment in Yuan, which world economic think tanks predicts will become the world currency before the end of this decade…

        • bruce

          IF we could wipe out our debt to China I would gladly GIVE them Ca. Problem is; after a year or two they would probably beg us to take it back!!

    • ChuckLC.J.LINGO@GMAIL.COM

      If you mean what it looks like, that democrat congresses caused this problem then I am in agreement if you are saying that we should collect all of the missing money from them and their estates.

      This is not a taxpayer problem, It is a Congressional greed problem. Stop their salaries. Stop their benefits. Freeze their assets worldwide. Sell their assets until the bills are paid in full. If the bills can not be paid, then put them to work at hard labor and minimum wage until the bills are paid. Since they will be unable to pay for their houses, let them live in tents. They can have some of the invaders that they invited in from south of the border show them how.

    • Nellie CA

      CA has done the same thing over and over again. In my life time this has been the third melt down on real estate in CA. In my area they gave a Mexican person a contractor’s license, this person built homes that were sub-standard. I don’t know how they passed the planning dept. inspection.
      The contractor sold the homes to illegals for 0% down and 0% for 3 years. No S.S numbers or ID of any kind. Not even a job back ground. The contractor sold the contracts to an investor and then the melt down started and the investors chg a % on the loans, people started moving out and stripping the homes. Border Patrol found most of the people living in this commuinity were illegal. Now the whole track is in forclosure and stripped, plumbing, dry wall, carpet, light fictures, windows and anything they could take. What a mess and cost to the tax payers.
      GOD BLESS OUR COUNTRY! IMPEACH OBAMA!

    • BigSkyCountry

      They have to drop out… THEY HAVE NO MONEY with which to pay their share of Legal Fees ….
      GOD BLESS AMERICA AND ALL WHO DEFEND HER !

  • jim

    It’s not all the peoples fault as they were encouraged to buy =easy payment plan etsc. With the lobbying of the big banks and ole mush mouth Barny & friends our government guarenteed the entire sale price of the homes – Fanney Mae & friends. So the real estate fellers sell the property and get their cut – the people pay whatever they can then eventually loose the house – now the bank has whatever was paid plus control of the house and since the loan was guaranteed by for the entire amount the bank petitions Fanny (government) and recieves payment. So not only does the bank have whatever was paid but also the original sale price. Since banks by law can’t really owwn this type of property it must sell it. Enter Mr. real estate man. Pretty sweet deal don’t cha think? We should all thank Barny & friends cause we all just love having our pockets picked with every breath we take. Wonder why you can never get ahead. Well there’s only one reason.

    • Michael

      Initially the lenders most likely securitized the loan (sold the mortgage notes) and have already been paid so the lenders don’t even own the legally required mortgage notes to commence a mortgage foreclosure action.
      “PRODUCE THE NOTE!”

      • Infidel

        The notes are in the name of the Chinese mostly and the notes ARE produced in the most part.
        You Borrow Money, YOU Pay it Back.

        Lots & Lots of people re-fied and cashed out during the Boom.
        Bought Boats, Cars, Planes, paid off Credit Card Debt etc…. There can be no sympathy for these people who used their homes as an ATM.
        Foreclose & Kick their Sorry asses out

    • kategray

      No one twisted their arms to apply for these mortagaes, this was done by the government to allow more people to be dependent on Big Government. If you live beyond your means then you must take responsibility for your actions when it goes belly up. .

      • Intelligent Conservative

        Most of the people who bought the houses being foreclosed on were young and naive. They were led down a garden path by the lenders and the realtors, most of whom it never occurred to this could happen. The buyers were too inexperienced to foresee it as they had never lived in a time when prices did not continue to inflate. Those of us who are older knew better, but were helpless to stop it. I remember when realtors sold the high-priced houses by using the pitch that the payment may seem high now, but in a few years when your salary has grown, you’ll be glad you bought the most house you could afford right now. During that time period, realtors actually pushed people to buy more expensive houses than they could afford. Most of them had too little experience to understand the implications of their actions.

        It is wrong for the government to pay these people’s way out of this mess, just like it was wrong for the government to put them there to begin with – but face reality, it IS the government’s fault. The Democrats in the federal government created this mess! And the American public is suffering the consequences – not only taxpayers, but also the home buyers who fell for the hype. They are to be pitied, but the houses should not be paid for them with taxpayer money. Once they’ve lost those big homes they never could afford, then they will be living in smaller homes they really can afford, just like I live! Yes, I feel bad for them, but they should live within their means as I have to do (I pay taxes).

    • LesPaul

      We’re never going to get ahead until we stop this government dead in it’s tracks. How you say? We must do what the government unions do to us and that is strike. A strike in which the tax payers who are still working just refuse to pay any taxes until our demands are met! We must all cut off the flow of funds to all government agencies federal state and
      local for at least a 6months. That will help the majority of the citizens to a financial breather and it will force our governments to get to work and fix all their wrong doings they have perpetuated all these years. A TAX PAYER STRIKE!

      • d rash

        Stupid remark! You are going to withhold paying your taxes? How? For the vast majority of us, the taxes are withheld from our paychecks, and we never see the money, before it goes to the government. It was set up that way “specificially” SO, we could NOT go on a tax strike! AND WHEN THEY RAISE YOUR TAXES UP TO 80% OR HIGHER,GUESS WHAT, the government still gets theirs before you get yours. Duh! The game is rigged in favor of the government!

        • prowlercrew

          All everyone needs to do is file a w-4 with 13 dependents and no tax will be taken from your pay checks! But the BIG problem is everyone is afraid they will get locked up for not paying. If EVERYONE did it it would be impossible for the IRS to process 300 million convictions! And if they could, where would they lock us all up? Come one people! It’s time we made the GOVERNMENT FLUNKIES think about the consequences of their foolish actions!

      • Neil R

        Join the T.E.A. Party! Taxes were what the original Boston Tea Party was protesting, and taxes are what the government depends upon to survive! In case you didn’t already know, T.E.A. means “T.axed E.nough A.lready”, and is exactly what we want to stop!

        We need to act as one in opposing how the government is misusing our taxes! And, when we speak as one, our collective voice is LOUD!

        • Infidel

          Herman CAIN for President 9-9-9, disband the IRS

      • Dave

        They will just empty your bank account, confiscate your possessions, or garnish your wages.

    • sc

      Jim,, anyone stupid enough to let someone else sell them on the idea that they can go out and spend as much as they want to when they know ahead of time that they can’t afford whatever the item might be, deserves to get it taken away, if the “people” are tha dumb maybe they shouldn’t be allowed out alone.

      • Josf

        They are that dumb. But they are also voters! Whose the dummy in this crowd?

  • G

    Sounds Like Another Fraudulent Scandal Brewing on The Good Taxpayers Of This Country, When Will We Know The Truth? and How Much Has This Problem Costs American Taxpayers.? It’s Time For Congress To Have Televised Public Hearings, until we know who the PERPS are and They Are Walking For Public Viewing on Their Way To Prison For A Long Time, Ethics Is Very Important, But It Seems Not For Ole-Buma. SEMPER FI.

  • krdave

    The blame for the real estate crash lies strictly with Bill Clinton, Barney Frank, and Chris Dodd.—-Many banks didn’t want to approve loans to unqualified buyers, but were really forced into having to do it. Since the above three got it going, builders started building houses to cover the demand, real estate people handled the sales because the builders don’t want to deal with individual customers (on bulk sales), then title company people, appraisers, and many others got involved. Many stories like this one make it sound like greedy real estate people and lending institutions were the cause of it all. NO, it was your pandering democrat representatives.

    • gonzales27

      Yes it was

      • john t r sr

        hey, deportable spick, you have no room to talk.

        • Intelligent Conservative

          What do you base that deplorable statement on – the writer’s name? I’m 100% against illegal immigration, but there are many Mexicans who are legal American citizens and gained citizenship here legally, just as your own ancestors did. Racism isn’t only toward blacks, and you are apparently a racist, right up there with Morgan Freeman.

        • GR

          John t r sr,
          That’s quite the intelligent argument you make, Numb nuts! Get a life.

        • d rash

          He may or may not be a “deplorable spick” as you say, but one thing is for certain, you are a cowardly, “hide behind my computer” lowlife deplorable pig racist! Let’s see if you got the balls to post your address. I am sure Gonzales27 would have the nerve to come to your house and introduce himself. How about it, post your address, or are you just ALL MOUTH! Pussy!

          • OAHS

            Is the “d”for dick? Mind your own business dumb ass …

          • Bushmaster66-68

            @ d rash. Good for you. That john t r sr, is a real prick.

            And OAHS is the same.

            To OAHS, take your own advice!!!!!

    • Intelligent Conservative

      EXACTLY !!! Just another example of big (BIG being the key word) government, Democrat socialist, spread the wealth around, mentality. All programs that use taxpayer money to support the lower class work this way. Some are necessary and good, but many – like this one – are not good in the long run, are destroying our economy, our middle class (who pay the taxes when they are working), and our country.

      Getting government out of business is the answer. Backing off all government regulation of business, allow free enterprise to determine the course of events, and never allowing the government to intrude into business, win or lose, would eventually solve the problem. America didn’t get to be the most powerful country on earth through governemnt intervention. It got there by the work of our citizens. And we will not get back to full power and strength unless we stop over-regulating business.

      And the horrendous spending of taxpayer money they don’t even have has to stop if we are to ever recover from this disastrous economic situation we find ourselves in. All government programs are paid for by taxpayer money. If nobody is working, nobody is paying taxes. If nobody is paying taxes, the government has no money. If they have no money, they shouldn’t be thinking up new ways to spend it. Regardless of how you feel about charity, entitlements, and all the other spread-the-wealth around Democrat socialist theories, we are going down, and can no longer afford to keep allowing the government to overspend, then tax us to cover their butts (and their ignorance!).

    • Lino

      Hey, you forgot to include the “Angry Congresswoman” from South Los Angeles!

    • R. Cook

      You need to throw in Obummers ACORN also. Remember they were the ones who invaded banks that did not want to do the bad loans. They picketed bank employee homes and made threats. Obummer has said he loves ACORN and was right in the mess from the start.

    • Vet2

      The original impetus for the housing meltdown was J. Carter, with his “low cost”
      housing for all the needy…..his “Habitat for Hunanity”; Clinton made it worse with the
      strong encourgaement of the black caucus; Fred. Mac. & Fan. Mae. bundles the “bad”
      loans & sold them to many countries ( F. Raines, Obama’s buddy retires in 6 yrs with
      6/9 million??) As R. Cook says..ACORN was the enforcer, and in it from the start.
      Senate investigators,under Bush, warned of the impending crisis, and were ridiculed & demeaned in the Senate hearing by Barney Frank and the Black Caucus (You tube 2004). As my dear Dad said to me 70 yrs ago ( I was 15) GREED & IGNORANCE are the causes of all problems..together they’re magnified.. this is a perfect case!!! SEMPER FI …G!!

  • NancyJ

    The bigger news is that Senator Dick Durbin, the majority Democrat whip, has succeeded in sticking it to all the taxpayers in the country in one blow!
    His legislation, which passed, makes credit and debit cards cost the taxpayer $5 a month in order to have one, and there will no longer be free checking.
    Yet another great job by the Democrats to damage “the little people” who come last in their interests. Of course, it won’t make much difference to Sen Durbin. He is among those who have just voted themselves a raise recently. Wish I could do that!
    Think what that will do to online shopping. A lot of people will just cancel their cards. They will have to. More job loss due to the Democrats.

    • Bushmaster66-68

      @ NancyJ. I gave up on banks and their myriad of “service charges” over 35 years ago. I had been moving from bank to bank as they one by one went to “free” checking accounts, until one by one after they got me, withing 6 months to a year, they “reinstated” the checking account charges. I got tired of that Bull MANURE!!!!

      I’ve got a solution for those folks not liking their bank(s) starting to charge account “tribute” fees; LEAVE your bank and go to a CREDIT UNION.

      My Credit Union here in Texas belongs to ME and the other members!!!!! As a result, we members don’t/won’t be paying any account tribute fees, AND…

      From day one of debit cards and ATM machines, we haven’t paid any fees to use our ATM machines, and MOST ATMs owned by any Credit Union in a national network.

      IF we use an ATM NOT owned by our Credit Union, or another CU in the network, then the banks charge a fee of 1.5 to 3 dollars, AND OUR CU charges a dollar on that transaction also.

      IF “everyone,” or just a majority of everyone were to leave their bank, then that bank would just have to “eat dirt!!!!!” That’s just like if we stop buying OPEC petroleum products, the ragheads will have to “eat sand,” and wash it down with oil!

  • kevin

    this all started with the idea everyone deserves a house,not just ahouse ,but to own a house,fanny mae and freddy mac where the ones who put together the no down and no verify on income 0 percent or low percent loans for 5 years ,then packaged them with others and sold them off to goldman sacks, find it real interesting goldman sacks got smacked down by obama s crew but fanny and freddy are still doing the same loans and no government oversite for them,you tell me this is not a plan to ruin America! these people are not stupid they know exactly what they aer doing and it is happening, all our jobs and wealth are being transfered over seas under the guise of government oversite ,epa controls,cap and trade,mean while this does nothing for the ecologyor the supposed global warming,all its doing is forcing America to give away its wealth and preventing us from producing more.

    • sc

      This all started with the penut man Jimmy Carter, and it has just gotten worse ever since.

  • richbrat

    Actually a lot of those folks who received loans were “entrepreneurial, self-employed types” and some even had real jobs before those corps that hired them, moved to China ;p …so you can’t really blame the borrowers in all cases. In fact “Welfare” recipients (people who receive government checks) are some of the most reliable payors of mortgage notes, at least the banks think so. And what’s wrong with the idea that poor folks should have a home? What needs to be investigated are the anti-values of banking and market economics that reward predatory, laws-of-the-jungle behaviour. I vote for the Old Testament solution: a 7th year national Jubilee, all debts forgiven. Can I get an Amen?

  • Are You Serious

     The real deal. 
     
     Herman Cain is running for president. He’s not a career politician (in fact he has never held political office). He’s known as a pizza guy, but there’s a lot more to him. He’s also a computer guy, a banker guy, and a rocket scientist guy. 
      Here’s his bio: 
     
    Bachelors degree in Mathematics.
    Masters degree in Computer Science.
    Mathematician for the Navy, where he worked on missile ballistics (making him a rocket scientist).
    Computer systems analyst for Coca-Cola.
    VP of Corporate Data Systems and Services for Pillsbury (this is the top of the ladder in the computer world, being in charge of information systems for a major corporation).
     All achieved before reaching the age of 35. Since he reached the top of the information systems world, he changed careers! 
     
    Business Manager. Took charge of Pillsbury’s 400 Burger King restaurants in the Philadelphia area, which were the company’s poorest performers in the country. Spent the first nine months learning the business from the ground up, cooking hamburger and yes, cleaning toilets. After three years he had turned them into the company’s best performers.
    Godfather’s Pizza CEO. Was asked by Pillsbury to take charge of their Godfather’s Pizza chain (which was on the verge of bankruptcy). He made it profitable in 14 months.
    In 1988 he led a buyout of the Godfather’s Pizza chain from Pillsbury. He was now the owner of a restaurant chain. Again he reached the top of the ladder of another industry.
    He was also chairman of the National Restaurant Association during this time. This is a group that interacts with government on behalf of the restaurant industry, and it gave him political experience from the non-politician side.
     Having reached the top of a second industry, he changed careers again! 
     
    Adviser to the Federal Reserve System. Herman Cain went to work for the Federal Reserve Banking System advising them on how monetary policy changes would affect American businesses.
    Chairman of the Kansas City Federal Reserve Bank. He worked his way up to the chairmanship of a regional Federal Reserve bank. This is only one step below the chairmanship of the entire Federal Reserve System (the top banking position in the country). This position allowed him to see how monetary policy is made from the inside, and understand the political forces that impact the monetary system.
     After reaching the top of the banking industry, he changed careers for a fourth time! 
     
    Writer and public speaker. He then started to write and speak on leadership. His books include Speak as a Leader, CEO of Self, Leadership is Common Sense, and They Think You are Stupid.
    Radio Host. Around 2007, after a remarkable 40 year career he started hosting a radio show onWSB in Atlanta (the largest talk radio station in the country).
     He did all this starting from rock bottom (his father was a chauffeur and his mother was a maid). When you add up his accomplishments in his life,including reaching the top of three unrelated industries: information systems, business management, and banking, Herman Cain may have the most impressive resume of anyone that has run for the presidency in the last half century. 
       

      United We Win!

     
     

  • Red Rock Bob

    Beware , Barry knows it’s time for a change of Diapers.

    Therefore he can escape Impeachment , an all of his other crimes. Yet Damage control is beyond repair. There is still eneough Jackasses left to finish us off.

    Calif , wanted everyone one to live Hollywood style , and most knew they would have to hit the Lottery , to ever pay off there homes. SUV”S < BOATS < an all other expensive toy's. All wanted to live the life of Pelosi .

    Nobody has ever gave me one cent, I worked for every penny that I had . Now I am to give it to some Illegal , or some spend thrift , that could only see , an learn how to file for free DOLLARS. Barry was there Big Dream. Now they can change his Diapers.