Election 2010: Teabaggin' the Ds & Rs

[Cletus Miller]

Originally Posted by Greedy,Greedy,Greedy

Not true. Look at the best performing banks in the $1 to $10 billion range in any area. You'll find banks that lent off their own base, avoided the problems, and are having a grand time in the market today.

residential mortgage lending business for non-deposit customers? sorry if the flip response was confusing.

[Tyrone Slothrop]

Originally Posted by Tyrone Slothrop

And the people who bought mortgage-backed securities from the banks.

Crain's Chicago Business:

The Federal Home Loan Bank of Chicago has sued several of the nation’s largest banks, including its biggest shareholder, Bank of America Corp., alleging that their failure to disclose lax mortgage underwriting standards led the Home Loan Bank to suffer losses after purchasing poor-quality mortgage-backed securities from them.

The Home Loan Bank’s lawsuit, filed in Cook County Circuit Court, asks the court to void the sales of the securities and direct the banks to reimburse the Home Loan Bank plus 10% annual interest, according to Bloomberg News.

[Adder]

Originally Posted by Greedy,Greedy,Greedy

Customer service benefits to those mammoth, slow-moving bureaucracies? You go there for the money, not the service.

Sorry. "Should be" was not meant to imply "does."

But yes, a nationwide bank would have branches and ATMs where ever you are, which should be to customer's benefit.

[Sidd Finch]

Originally Posted by sebastian_dangerfield

An IRS lien is not analogous to a person failing to make payments under a mortgage.

And this is a pretty sophomoric way of trying to goad me into a comment you can suggest shows bias in favor of banks and against govt. Ideology has nothing to do with this. If a person owed Uncle Sam $300k in taxes, knew he owed it and complained because of some technical defect in the IRS's execution on his home, I'd take the same exact position in favor of the IRS.

If you aren't paying on your mortgage, you have every right to avail yourself of all defenses and stay in the house as long as you can under law. The bank's failures in the foreclosure process, committed in good faith, bad faith or recklessly, however, do not preclude me or anyone else from calling your defenses bullshit technicalities. That's what they are (and I say this as one routinely raising them in both commercial and residential f/cs). Nor do they preclude me from calling out dimwit pundits who are slanting this "Foreclosuregate" thing to suggest delinquent homeowners are victims. They are beneficiaries of the errors. The banks' imbecility is going to grant them many more months of cost-free living in a home they equitably should have forfeit long ago.

The victims here are you and me and everyone else who bought a home he could afford and lived within his means. The sensible borrower stands in a "clowns to the left, jokers to the right" scenario in this mess... all the while, watching his home value remain stagnant, or fall.

Yes, and the banks that fucked it up in the first place with shoddy lending practices are fucking it up even more with shoddy foreclosure practices.

[Sidd Finch]

Originally Posted by Tyrone Slothrop

Where are the mortgage lenders that competed by avoiding the crapulence that has led to all the problems?

I think The Market took care of them.

[Replaced_Texan]

Originally Posted by Adder

Sorry. "Should be" was not meant to imply "is."

But yes, a nationwide bank would have branches and ATMs where ever you are, which should be to customer's benefit.

Unbelievably good service from a nationwide bank: USAA.

No branches, but no ATM fees, and easy depositing via iphone or other digital scan of check. Great rates, friendly people on the other end of the line, and no real hassels at all dealing with them. USAA is probably the KIPP Academy of retail banking, though: awesome results, but skewed towards a particular self-selected demographic and difficult to replicate on a massive scale for the population as a whole.

[sgtclub]

Originally Posted by Tyrone Slothrop

Crain's Chicago Business:

This should be interesting. Looks like a 1933 Act claim.

[Tyrone Slothrop]

Awkward!

[Penske 2.0]

Originally Posted by Tyrone Slothrop

Awkward!

Wow, I have an impulse to floss the lobes of brain with a butterknife in an effourt to rid myself of the memourie of that exchange.

OTOH, I found it more erotic than Adder's posts on the FB......

[Greedy,Greedy,Greedy]

Originally Posted by Penske 2.0

Wow, I have an impulse to floss the lobes of brain with a butterknife in an effourt to rid myself of the memourie of that exchange.

OTOH, I found it more erotic than Adder's posts on the FB......

I suspect he's sort of the Mike Dukakis of the dating world.

I loved that little exchange. I thought it might help her build some character.

[Atticus Grinch]

“If you want government to intervene domestically, you’re a liberal. If you want government to intervene overseas, you’re a conservative. If you want government to intervene everywhere, you’re a moderate. If you don’t want government to intervene anywhere, you’re an extremist.”
— Joe Sobran (1946–2010)

[Tyrone Slothrop]

Capitalism conquered communism, and now it's got democracy on the ropes. - David Swift

[Tyrone Slothrop]

Can the Republican Party recover from what's happening to it this year, or will it have to be put down? When will the country get the second political party it needs?

[Gattigap]

Originally Posted by Tyrone Slothrop

Can the Republican Party recover from what's happening to it this year, or will it have to be put down? When will the country get the second political party it needs?

You're supposing that there's someone in a position of responsibility today's GOP that *wants* to have it recover or be put down.

No, first we need to have the GOP score big wins, historic wins, which lead them to shut down the government by March over HCR/Stimulus/TARP, and commence impeachment proceedings over something like Austen Goolsbee having looked at Koch Industry's confidential tax returns.

[Adder]

Originally Posted by Tyrone Slothrop

Capitalism conquered communism, and now it's got democracy on the ropes. - David Swift

Am I supposed to know who David Swift is?