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Conde Koma
20th July 11, 06:33 PM
State attorneys general are negotiating to give major banks wide immunity over irregularities in handling foreclosures, even as evidence has emerged that banks are continuing to file questionable documents.
from: http://www.reuters.com/article/2011/07/20/us-foreclosure-banks-immunity-idUSTRE76J7J820110720


so the article further down clarifies that this is for civil lawsuits, without knowing whether this will apply for criminal charges as well. in any case, could someone help explain what this is all about? this looks like some really scary shit to me, but i'm not totally in the know on how things work.

jvjim
20th July 11, 08:53 PM
Thanks Count, I was having a pretty rad b-day unit you post up this shiatzu. GLARE BEAR STARE!!!!!!!

Dark Helmet
20th July 11, 09:05 PM
from: http://www.reuters.com/article/2011/07/20/us-foreclosure-banks-immunity-idUSTRE76J7J820110720


so the article further down clarifies that this is for civil lawsuits, without knowing whether this will apply for criminal charges as well. in any case, could someone help explain what this is all about? this looks like some really scary shit to me, but i'm not totally in the know on how things work.

From what I gather there going preteet bankers and keep them from being sued(sic) or prosecuted.

EvilSteve
21st July 11, 11:41 AM
from: http://www.reuters.com/article/2011/07/20/us-foreclosure-banks-immunity-idUSTRE76J7J820110720


so the article further down clarifies that this is for civil lawsuits, without knowing whether this will apply for criminal charges as well. in any case, could someone help explain what this is all about? this looks like some really scary shit to me, but i'm not totally in the know on how things work.

As it turns out, the banks were as shoddy with writing mortgages as many people were with paying them. In many, many cases, mortgages have been bought and sold by so many banks, no one is really sure who owns them, and no one has the paperwork to prove it. Were the banks required to live up to their legal obligations, they would be unable to sustain their losses, and would go begging for another bail out, or more likely, close down and lose all their depositors' money. This would be devastating to the economy and world financial system, so the US govt is quietly trying to dump the burden on the homeowners who don't have as powerful a lobby.

Conde Koma
21st July 11, 01:12 PM
so can we definitively call this "A Bad Thing" then? is there anything we can do to stop it?

EvilSteve
22nd July 11, 02:24 PM
If you're a lawyer you can offer to defend homeowners pro bono. Most of the time the banks have no paperwork or other proof that they ever owned the mortgage, but judges tend to grant them recesses until they can forge the appropriate documents.

In Spain they've taken to forming human chains around foreclosed houses. Everyone thus saved then joins the chain for the next person.

Or you can start serial murdering bank execs. That's probably the most workable solution.

Conde Koma
22nd July 11, 02:26 PM
yeah, it seems like the banks are just dominating the court system, who are more than willing to just let the shady business fly right on by.

elipson
22nd July 11, 02:46 PM
This is the clearest example ive seen that the US system is horribly broken.

Feryk
22nd July 11, 05:12 PM
I'm with NoB on this. For chrissakes, people! Stop borrowing money you can't pay back from your poor neighborhood banker!

HappyOldGuy
22nd July 11, 09:07 PM
This is the clearest example ive seen that the US system is horribly broken.

Well. it's not just the US system. Variants of this are happening all over the world, but yes, this is what happens when you get too much money and power in too few hands. It's too big to fail v. 63. Since everybody broke the law, nobody can be held accountable. So you have to triage. A bunch of poor people lose their homes, or another financial collapse.

I'm leaning towards blanket parties for bankers. It should be a federal holiday.

National beat a banker day has a nice ring.

HappyOldGuy
22nd July 11, 09:55 PM
It's true. Studios based entirely in L.A. and New York take huge taxpayer kickbacks from flyover country to film their wilderness scenes there, and then take the profits back home.

Stupid left...errrrrr.

HappyOldGuy
22nd July 11, 11:49 PM
http://money.msn.com/tax-tips/post.aspx?post=77dfefa9-0000-4946-8abd-cc30fe35b0c5

http://online.wsj.com/article/SB125590995233693277.html

http://www.pittsburghlive.com/x/pittsburghtrib/news/s_724990.html

You really should stick to jokes about getting your ass pounded.

Cullion
23rd July 11, 08:03 AM
Nob, why are you defending bankers ? These people are the most ridiculous, ungrateful welfare junkies that have ever existed.

Craigypooh
23rd July 11, 03:17 PM
I blame Gordon Brown.

Feryk
25th July 11, 09:33 AM
Nob, why are you defending bankers ? These people are the most ridiculous, ungrateful welfare junkies that have ever existed.

He is inspired by them.

HappyOldGuy
25th July 11, 08:58 PM
Do you even read your own links, or do you just copy and paste the first page of google hits.


As a general principle, however, states shouldn't chase smoke stacks or film production crews with specific tax breaks. It makes much more sense for cities, states and the federal government to lower tax rates for everyone. New York City can survive without Alec Baldwin and "30 Rock," but it can't function without the thousands of small businesses that pay taxes without the benefit of lobbyists and loopholes.


Now, Des Moines, population 200,000, is dealing with a nasty hangover. A lavish tax-incentive program that brought Hollywood to its doorstep has come to a halt amid allegations of faulty oversight, poor record-keeping and potentially criminal abuse.

Exactly one of your links supported your case. And it was referring to offshore moves rather than out of state.

Conde Koma
25th July 11, 10:50 PM
just curious, but how serious were you about this statement?


Once you reduce the amount of government and red tape and taxes and litigation and lazy people in this country then the poor banks won't be forced to resort to shady practices to get by.

HappyOldGuy
25th July 11, 11:22 PM
PS. Hog. Semi-soberly, your articles were all about states that stopped tax breaks for movies. But the fact is, more and more movies are made overseas. Less and less are made in Cali.

Quit trying to defend your shitty liberal ideals. Your state is an example of how much fail they are.

California's saving graces are the landscape and the weather.

And guess what?

The fucking leftwing hippies didn't put them there. They were there before they got there.

Well, the weather, the landscape, and almost every significant tech and medical achievement of the last 50 years.

But that's okay, you guys have microsoft.

Giggle.

As far as movies go.

a) If they are leaving the country, then it isn't the state.
b) The profits still stay here. Higher profits=more money for california. Now for me, that's somewhat of an issue, since it costs poor people jobs, but you should be cheering since higher profits mean the rich backers make even more money.

Conde Koma
25th July 11, 11:40 PM
How did you escape from the 'Last person to post thread' ?

I thought you were trapped in there like superman's evil cousins in that space glass.

And I am serious, I think too much government regulation actually encourages lawlessness. Similar to the really really strict parents that have naughty children, while the semi strict parents raise a decent lot.

didn't you notice who started the thread?

anyhow, the phrase "poor banks" seems pretty satirical, so i wanted to see how facetious you were being.

re: regulation leading to lawlessness, what are you thoughts on corporate practices during the less regulated reagan era?

HappyOldGuy
25th July 11, 11:58 PM
I could educate you on the role of californias world class public university system, infrastructure, etc, but you aren't educatable. Californias main challenge to businesses is actually prop 13 and other tax restrictions which were saddled on us by conservatives which have had the perverse effect of driving up our corporate tax rates because those aren't limited.

Sorry NOB, your daddy issues are not a good mirror for a complicated world.

HappyOldGuy
26th July 11, 12:12 AM
That would be the California plan for higher education by democrat Pat Brown. Father of the current gov.

You are actually dancing around the fringes of legitimate issues. California has been coasting on education. And there is bi partisan blame for it. You just don't know enough to address them. And they don't fit into your little buckets.

HappyOldGuy
26th July 11, 12:35 AM
democrat Pat Brown. .

Pretty sure I did.