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When Will The Madness End ??

By
Mortgage and Lending with Greater Mortgage Solutions & Valley Hills Realty

I don't know about you but I am so tired of all the bank bailouts which in essence has bailed out the rich some of them have recieved golden parachutes after thier bank was taken over.  Then to top it off the bank that took over the failing bank is provided incentive to let the loans go bad let them foreclose vs. helping out the homeowner.  Not to mention the banks that recieved all that TARP money the big banks that are suppose to help foreclosures save the economy, that you hear on commercials about how they are suppose to "help" everyone now also benefit from the FDIC share loss program you can read all about that in a previous post but here is the new thing.

http://market-ticker.org/archives/1477-CITing-The-Bowl.html

CIT is in trouble again and if they do not recieve help they will file BK, so let them what I did not know is that B of A & Citi Bank had lent them 2.1 billion??  How can two banks that were basically going broke lend out that kind of money to another bank that was going broke.  These banks needed taxpayer money to save themselves and to basically keep doing whatever they felt like.   I don't care if they lent that money out in 2006 these two banks have economic forecasters, and Ivy league executives with more degrees and letters behind their name that you would think you were reading the alphabet.  How can you not see coming that 620 fico loans on stated income may go bad?  I can go on but what is the point as long as the public is okay with this and the govt. continues to allow the shell game go on it will.

 

Buying or selling a home or property in Santa Maria CA, or on the Central Coast, my goal is to provide you with resources you need. I can also help in getting the financing for your home. just wish it would stop, and really send some help to the average guy that has no golden parachute.

 

Gene Perez, 01321588,

805-448-7101

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