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: Valuepro who wrote (287819)	10/29/2010 11:51:20 PM
From: S. maltophilia	Read Replies (1) \| Respond to of 306849

<<No, because the government sets the standards which qualify the paper for resale. You don't think those standards are appropriate? Look to the House Banking Committee.>> Those standards may be appropriate but have proven horribly inadequate. Congress has passed legislation over the years (or at least since 1933), but the real regulating is done by the SEC, CFTC (formerly), FHA, HUD, Fed, etc. Peddlers of mortgage and other asset backed securities were always careful to comply with the letter of the regulations but those regulations and standards for resale did nothing to prevent the sale of MBS to buyers who were horribly unsuited for such "investments." No, there was no crime committed, in the sense that there was no law adequate to address the act (if the investment was common stock, and the order was solicited, the NYSE has a handy rule addressing the issue): finra.complinet.com Too bad there are no laws about wrecking an economy. And it's not Joe Asshole who lost his job and defaulted on his mortgage. It's the investment banking criminals who are to blame.

To: Valuepro who wrote (287819)	10/30/2010 1:19:44 AM
From: Broken_Clock	Respond to of 306849

No, because the government sets the standards which qualify the paper for resale. --- Still waiting to hear from you where forged buyer Good Faith Estimates are legalized....

To: Valuepro who wrote (287819)	10/30/2010 1:39:59 AM
From: Skeeter Bug	Respond to of 306849

>>No, because the government sets the standards which qualify the paper for resale. You don't think those standards are appropriate? Look to the House Banking Committee.<< no, look to the people who funded their campaigns and lobby them... hey, we are right back at the TBTF banks and the BIG Capital that stands behind them. do you support criminal perjury charges for filing false documents with the court by the tens of thousands? or would you put the public on their knees before the criminals again?