Comments on: Housing Bailout Bill Failure: Examining the Boondoggle Legislation and Populist Uprising against Wall Street. 5 Reason the Bill failed and 5 Easy to Implement Solutions that can be Used Today. http://www.doctorhousingbubble.com/housing-bailout-bill-failure-examining-the-boondoggle-legislation-and-populist-uprising-against-wall-street-5-reason-the-bill-failed-and-5-easy-to-implement-solutions-that-can-be-used-today/ How I Learned to Love Southern California and Forget the Housing Bubble Thu, 18 Mar 2010 14:32:12 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: cyndy http://www.doctorhousingbubble.com/housing-bailout-bill-failure-examining-the-boondoggle-legislation-and-populist-uprising-against-wall-street-5-reason-the-bill-failed-and-5-easy-to-implement-solutions-that-can-be-used-today/comment-page-1/#comment-25330 cyndy Wed, 01 Oct 2008 22:54:44 +0000 http://www.doctorhousingbubble.com/housing-bailout-bill-failure-examining-the-boondoggle-legislation-and-populist-uprising-against-wall-street-5-reason-the-bill-failed-and-5-easy-to-implement-solutions-that-can-be-used-today/#comment-25330 Anyway, here's a big stinker for you; and I need some quick investigative help and loud questions to be asked. This should be a factor in our Senator's decisions today regarding the bail out deal. Here's what I just e-mailed and faxed to Senators; including John Ensign, as seperate e-mails (This is Ensign's copy) : URGENT**** Per your Vegas office, I am sending you the web address to the website for the Las Vegas Real Estate Brokerage tied to Frank Raines: http://prosofrealty.com/ Also, Google Farrah Gray and Frank Raines, and Ronald Branch and Frank Raines for more links between them. I believe the evidence I am collecting shows that Frank Raines was funneling the Fannie and Freddie foreclosures to this group to list for resale. I talked to a broker who worked there briefly. He heard their names mentioned, but more importantly; the commissions paid to the 'brokerage' were maybe 3% of the sales price, but the sales person or selling broker only got maybe $1,500 or less. The brokerage was then funneling the money back to the owner/investors. There is a shell company in the middle, but I am picking up ties to Raines all along the path. One thing I am, is persistent. Don't vote yes on this bill today, Senator Ensign. There is a tie between Frank Raines and this company, and it will blow up this topic shortly. Any one of our politicians who votes yes to this rescue bill today is going to look as though they didn't look hard enough at the details before they voted. You can't vote on this without knowing the facts. You need to say that you are not voting for a 700 Billion dollar or more bill to taxpayers without all the information. Also, I talked to a broker who was working there. He said that basically, this gave Freddie and Fannie execs a reason to foreclose, secretly. They made more money this way, taking these houses back and selling them via these shell brokerage groups; rather than working with any borrowers. This bail out bill profits these lenders even more. Many were complicit. I've had the misfortune of looking some of these people in the eye across the negotiating table in the last few years. They did this on purpose. I can promise you, my tax dollars won't pay for this. I don't care if I have to cut my income by 50%, because it'll only mean a reduced net of 10%, I pay so much in taxes. But, at least I know I'm not working to pay off their FRAUD. I can get a home loan today, my kid just got student loans 30 days ago, and this is a lie about the credit crisis. If someone is creditworthy, can show the ability to financially handle the repayment, and has a downpayment, they can borrow. I'm not handing anyone a fresh shovel; least of all the people who got us into this in the first place. And, Main Street has been paying for this for two years. We've already figured out how to live beneath our means, save, not use credit, and survive. I'm not buying that these poor, poor fraudsters need me to give them $700 billion. Anyway, here’s a big stinker for you; and I need some quick investigative help and loud questions to be asked. This should be a factor in our Senator’s decisions today regarding the bail out deal. Here’s what I just e-mailed and faxed to Senators; including John Ensign, as seperate e-mails (This is Ensign’s copy) : URGENT**** Per your Vegas office, I am sending you the web address to the website for the Las Vegas Real Estate Brokerage tied to Frank Raines: http://prosofrealty.com/ Also, Google Farrah Gray and Frank Raines, and Ronald Branch and Frank Raines for more links between them. I believe the evidence I am collecting shows that Frank Raines was funneling the Fannie and Freddie foreclosures to this group to list for resale. I talked to a broker who worked there briefly. He heard their names mentioned, but more importantly; the commissions paid to the ‘brokerage’ were maybe 3% of the sales price, but the sales person or selling broker only got maybe $1,500 or less. The brokerage was then funneling the money back to the owner/investors. There is a shell company in the middle, but I am picking up ties to Raines all along the path. One thing I am, is persistent. Don’t vote yes on this bill today, Senator Ensign. There is a tie between Frank Raines and this company, and it will blow up this topic shortly. Any one of our politicians who votes yes to this rescue bill today is going to look as though they didn’t look hard enough at the details before they voted. You can’t vote on this without knowing the facts. You need to say that you are not voting for a 700 Billion dollar or more bill to taxpayers without all the information. Also, I talked to a broker who was working there. He said that basically, this gave Freddie and Fannie execs a reason to foreclose, secretly. They made more money this way, taking these houses back and selling them via these shell brokerage groups; rather than working with any borrowers. This bail out bill profits these lenders even more. Many were complicit. I’ve had the misfortune of looking some of these people in the eye across the negotiating table in the last few years. They did this on purpose. I can promise you, my tax dollars won’t pay for this. I don’t care if I have to cut my income by 50%, because it’ll only mean a reduced net of 10%, I pay so much in taxes. But, at least I know I’m not working to pay off their FRAUD. I can get a home loan today, my kid just got student loans 30 days ago, and this is a lie about the credit crisis. If someone is creditworthy, can show the ability to financially handle the repayment, and has a downpayment, they can borrow. I’m not handing anyone a fresh shovel; least of all the people who got us into this in the first place. And, Main Street has been paying for this for two years. We’ve already figured out how to live beneath our means, save, not use credit, and survive. I’m not buying that these poor, poor fraudsters need me to give them $700 billion.

]]> By: Jon T. http://www.doctorhousingbubble.com/housing-bailout-bill-failure-examining-the-boondoggle-legislation-and-populist-uprising-against-wall-street-5-reason-the-bill-failed-and-5-easy-to-implement-solutions-that-can-be-used-today/comment-page-1/#comment-25327 Jon T. Wed, 01 Oct 2008 16:40:36 +0000 http://www.doctorhousingbubble.com/housing-bailout-bill-failure-examining-the-boondoggle-legislation-and-populist-uprising-against-wall-street-5-reason-the-bill-failed-and-5-easy-to-implement-solutions-that-can-be-used-today/#comment-25327 Dr. HB Is it possible that the "bailout" is nothing more than a smokescreen designed to buy time to forestall the innevitable? It seems that regardless of what way the vote goes on the bailout, the fundamental problems in the economy, equity markets, and credit markets remain. Might this not be nothing more than a distraction, a way to put the credit crisis in a temporary state of suspended animation? While everyone debates whether or not the bill is good or should be revised, Rome is burning. The water this bill might throw on the fire doesn't even slow it down, much less extinguish it. I think this is a distraction. The market could not content with the crisis so the market threw the crisis over to congress, knowing that congress could do nothing aside from igniting a national debate about something (the bailout) that appears important but is in fact impotent in the face of the great credit unwind. It appears to be the kind of tactic a magician on stage might employ... create a distraction in order to divert attention in order to pull the strings and create the illusion. Except in this case, there are no strings left to pull. The markets (market makers) are hoping that with the time purchased in this pointless debate, they may find one last string to pull to complete the illusion. The problem is, there are no strings left to pull and so the distraction becomes the show. Dr. HB

Is it possible that the “bailout” is nothing more than a smokescreen designed to buy time to forestall the innevitable? It seems that regardless of what way the vote goes on the bailout, the fundamental problems in the economy, equity markets, and credit markets remain. Might this not be nothing more than a distraction, a way to put the credit crisis in a temporary state of suspended animation? While everyone debates whether or not the bill is good or should be revised, Rome is burning. The water this bill might throw on the fire doesn’t even slow it down, much less extinguish it. I think this is a distraction. The market could not content with the crisis so the market threw the crisis over to congress, knowing that congress could do nothing aside from igniting a national debate about something (the bailout) that appears important but is in fact impotent in the face of the great credit unwind. It appears to be the kind of tactic a magician on stage might employ… create a distraction in order to divert attention in order to pull the strings and create the illusion. Except in this case, there are no strings left to pull. The markets (market makers) are hoping that with the time purchased in this pointless debate, they may find one last string to pull to complete the illusion. The problem is, there are no strings left to pull and so the distraction becomes the show.

]]> By: compass rose http://www.doctorhousingbubble.com/housing-bailout-bill-failure-examining-the-boondoggle-legislation-and-populist-uprising-against-wall-street-5-reason-the-bill-failed-and-5-easy-to-implement-solutions-that-can-be-used-today/comment-page-1/#comment-25315 compass rose Wed, 01 Oct 2008 08:09:35 +0000 http://www.doctorhousingbubble.com/housing-bailout-bill-failure-examining-the-boondoggle-legislation-and-populist-uprising-against-wall-street-5-reason-the-bill-failed-and-5-easy-to-implement-solutions-that-can-be-used-today/#comment-25315 What I'm reading about "Plan B" makes me nauseous. ~ Nauseous like the Spanish flu...vs. nauseous like gagging up one's own bloody entrails from "the Ebola virus" of credit default swaps. ~ CDSs--next financial crisis http://money.cnn.com/2008/09/30/magazines/fortune/varchaver_derivatives_short.fortune/index.htm ~ rose What I’m reading about “Plan B” makes me nauseous.
~
Nauseous like the Spanish flu…vs. nauseous like gagging up one’s own bloody entrails from “the Ebola virus” of credit default swaps.
~
CDSs–next financial crisis
http://money.cnn.com/2008/09/30/magazines/fortune/varchaver_derivatives_short.fortune/index.htm
~
rose

]]> By: DAve http://www.doctorhousingbubble.com/housing-bailout-bill-failure-examining-the-boondoggle-legislation-and-populist-uprising-against-wall-street-5-reason-the-bill-failed-and-5-easy-to-implement-solutions-that-can-be-used-today/comment-page-1/#comment-25312 DAve Wed, 01 Oct 2008 05:53:49 +0000 http://www.doctorhousingbubble.com/housing-bailout-bill-failure-examining-the-boondoggle-legislation-and-populist-uprising-against-wall-street-5-reason-the-bill-failed-and-5-easy-to-implement-solutions-that-can-be-used-today/#comment-25312 This was just sent to my three lovely "representatives": FDIC insures depositors against bank failures. It provides in its present state insurance for up to $100K each depositor. The latest brilliant idea is to up the limits from $100K to $250K each depositor. FDIC DOES NOT HAVE ENOUGH MONEY TO COVER THE DEPOSITS IT ALREADY HAS AND NOW THE PLAN IS TO INCREASE ITS (WHICH MEANS OUR) OBLIGATIONS AND EXPOSURE ALMOST THREEFOLD. Check out the amount of money FDIC actually has versus how much it will have to pay if only a few more banks fail. It doesn't even have 1/10th of what it could need. And many more banks WILL fail guaranteed. This seems like just another back door way to trick us into bailing out big money players. Don't let this happen to us! Our representatives are not supposed to be our enemies *You're welcome to copy and paste should that inspire you to actually make contacting them happen-* This was just sent to my three lovely “representatives”:

FDIC insures depositors against bank failures. It provides in its present state insurance for up to $100K each depositor.

The latest brilliant idea is to up the limits from $100K to $250K each depositor.

FDIC DOES NOT HAVE ENOUGH MONEY TO COVER THE DEPOSITS IT ALREADY HAS AND NOW THE PLAN IS TO INCREASE ITS (WHICH MEANS OUR) OBLIGATIONS AND EXPOSURE ALMOST THREEFOLD.

Check out the amount of money FDIC actually has versus how much it will have to pay if only a few more banks fail. It doesn’t even have 1/10th of what it could need. And many more banks WILL fail guaranteed.

This seems like just another back door way to trick us into bailing out big money players.

Don’t let this happen to us!

Our representatives are not supposed to be our enemies

*You’re welcome to copy and paste should that inspire you to actually make contacting them happen-*

]]> By: DAve http://www.doctorhousingbubble.com/housing-bailout-bill-failure-examining-the-boondoggle-legislation-and-populist-uprising-against-wall-street-5-reason-the-bill-failed-and-5-easy-to-implement-solutions-that-can-be-used-today/comment-page-1/#comment-25310 DAve Wed, 01 Oct 2008 05:34:11 +0000 http://www.doctorhousingbubble.com/housing-bailout-bill-failure-examining-the-boondoggle-legislation-and-populist-uprising-against-wall-street-5-reason-the-bill-failed-and-5-easy-to-implement-solutions-that-can-be-used-today/#comment-25310 No seriously can anybody explain why they'd want to increase the FDIC limits when from all indications they don't have enough to cover the obligations they have @ $100k each depositor??? No seriously

can anybody explain why they’d want to increase the FDIC limits when from all indications they don’t have enough to cover the obligations they have @ $100k each depositor???

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