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Do the banks before they do you

Underwater on the mortgage ? Walk away ! Of course the banks are furious at the suggestion that their debt slaves follow their own practices.
” Norms governing homeowner behavior stand in sharp contrast to norms governing lenders, who seek to maximize profits or minimize losses irrespective of concerns of morality or social responsibility. This [...]

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Money Pit in Sand

Built on slave labor and borrowed money, an extravaganza of opulence and misery is set to echo Shelley’s “Ozymandias.” Now all the money is gone, the slaves flee, and kleptocrat rulers fight usurious moneylenders in a background of half built dreams and pooling sewage.
Couldn’t have happened to a nicer buncha thieves.
Soon, as [...]

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Judge Rules Against Bank’s “Repulsive” Behavior

In a very unusual legal decision, Judge Jeffrey Spinner ruled against a California bank that he said behaved in a “harsh, repugnant, shocking and repulsive” manner.
The ruling against OneWest and the IndyMac mortgage division has relieved the homeowners of their $291,000 original mortgage, as well as, $235,000 in interest.
The judge wrote that OneWest’s conduct was [...]

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Donald Trump: The Art Of A Steal

Atlantic City, NJ — Someone recently asked me, “How did Donald Trump get all his money.” The reply, “Taking everybody else’s money by going public with a company. Then, watching the people lose all their money while the company goes bankrupt.”
Now, The Donald is adding another twist by buying back the bankrupt [...]

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Stress Test Causes Stress

Washington, DC — An inside source has said that Bank Of America is likely to need an additional $34 billion. This comes after their CEO, Kenneth Lewis, said, “We absolutely don’t think we need additional capital.”
The stress test is a U.S.A. government plan to examine the health of banks. The results expected to be [...]

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Bailout? What Bailout?

Washington, DC — There is a misplaced belief that the US government is bailing out big business and financial institutions; however, bailing out is probably not a good way to describe the arrangement.
Many of the small and medium sized banks did not want to take Troubled Asset Relief Program (TARP) money. At the time, [...]

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Oboma Budget Bad Business

The world has been waking up and raising a voice against President Oboma’s budget and stimulus plans. How can you spend, spend, spend money you don’t have? Who will pay back the debt?
The European Union has taken a stance against the massive amount of spending. The head of the EU, Czech Prime [...]

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Bank Failures Increase Worldwide

Bank failures continue to escalate over the face of the globe. Four more US banks were closed by regulators in Nebraska, Florida, Illinois and Oregon.
In the UK, Lloyds is already 43.5% government owned after having to seek assistance last fall. Now, they face $14.2 billion loss. At the same time, they [...]

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