financial calamity: FDIC'S Sheila Bair seems to be the ONLY "voice of reason" - 12/08/09 03:23 PM
Over the past two years we have had hearing after hearing with all the usual suspects that I have named as public enemies to the consumer and our industry. Wall Street certainly set the table for this calamity but they couldn't have done it without the help of repealing an act called GLASS STEAGULL (Originally passed in 1933). The repeal happened in the dark of night a late December eve in 1999. Thank you Phil Gramm.
Without going into much detail you can read the awful details and yes you will find the usual enemies of the consumer and our industry currently … (2 comments)
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financial calamity: BARNEY FRANK - PUBLIC ENEMY NUMBER ONE - 11/03/09 11:40 AM
In his quest to appease the too big to fail banks making sure the CEO's get the bonuses promised so his campaign coffers remain flush Barney Frank is working hard to keep his promise of killing any and all competition for home loans leaving only the too big to fail banks to lend to the consumer. You know the TARP KIDS.
30 years ago the banks had their little monolopolistic operation - no competition and they were slow. The consumer was victimized because they were the only players in town until the local community based lenders (mortgage bankers/brokers) cropped up and what the consumer … (2 comments)
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financial calamity: Barney Frank & Friends lack knowledge & skill - 09/24/09 03:40 PM
The staggering ignorance exhibited by the folks that are intimately involved with the outcome of this financial calamity was further demonstrated by Barney Frank (D) MA.I am not a mortgage broker (I am a mortgage banker) and the statement Mr. Frank made is outrageous and baffling considering we have had two years of hearings teaching him what it was he was to have been overseeing as Chair of the committee that was to oversee all of this. Alas he still does not understand the market place and how it works.
Mr. Frank was attending a meeting and in that meeting Timothy Geitner Treasury Secretary … (0 comments)
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financial calamity: Dylan Ratigan "Americans have been taken hostage" A MUST READ! - 09/14/09 11:02 AM
For the past eighteen months my blogs will touch on this very topic. Dylan Ratigan - his program "Morning Meeting" on MSNBC had guests on today specifically addressing the bricks preventing us from real recovery.
I recommend you click below and read what is really going on. He knows the issue and clearly understands the landscape better than most.
http://www.huffingtonpost.com/dylan-ratigan/americans-have-been-taken_b_285225.html
I recommend you click on to his site and click the video featuring Elizabeth Warren. Another voice for mainstreet America.
http://www.msnbc.msn.com/id/31510813/
You will continue to hear that we are turning the corner. What you don't hear is the banks continue to have … (0 comments)
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