Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (283743)	10/15/2010 12:52:32 PM
From: Jim McMannis	Respond to of 306849

RE:"I'd like to see Obama rescue Spitzer from the wilderness of cable TV and put him on the case as a special prosecutor." Man, you are so funny. You think Spanky and TTT want Spitzer hanging around? The only way Obama hires Spitzer is to get TEA party votes.

To: bentway who wrote (283743)	10/15/2010 12:54:51 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 306849

Oh, wait a minute here. Are you talking bank fraud against the people being foreclosed on, or fraud against the buyers of MBS? I think the attorney generals are going for fraud against the homeowners. Either way, it seems fairly clear to me what the banks will argue. The banks are going to say that they contracted out the paperwork to legal firms who should have understood the law, thought their standards were being met, and were not aware of any improprieties. It has recently been brought to their attention that their contractors were not doing their jobs properly and the banks have quickly tightened their procedures to prevent this from happening in the future. The contractors get all of the blame and the banks get a slap on the wrist for not being more diligent. That's how I see all of this playing out.