First on the new.

second!


ETA: I don't know that the economy is recovering but I have seen lots of reports that indicate there is another foreclosure wave coming and this one won't be so friendly.

Third

I'd like to thank everyone involved for ruining the best thread in GD. At least one ban-hammer was dropped, I hope.

Thanks for the fresh start VA!

Edited..VA-gunnut

I think that's because the banks have moved past most of the "robo-signing" mess which stalled the process last year.

Here is a good video interview to get us started. A good background on where we are and how we got here.

Gretchen Morgenson: Wall Street Really Does Enjoy A Different Set of Rules Than The Rest of Us

Gretchen Morgenson: Wall Street Really Does Enjoy A Different Set of Rules Than The Rest of Us

Gretchen Morgenson has earned a Pulitzer-winning career from exposing abuse and conflicts of interest on Wall Street. In this interview, she confirms that there is indeed a second set of rules that our elite financial institutions enjoy, largely unfettered by the constraints that apply to the rest of us.

Consequences for failure and fraud are very different under this second set of rules - in fact, they're practically rewarded.
Accountability, by all prudent measures, has become non-existent. The extraordinary measures the country deployed to deal with the great contraction in 2008 only served to exacerbate these imbalances.

What's sorely needed now is a national dialogue on whether we're willing to allow this to continue. What benefits are we receiving by enabling these elite to enjoy such different standards? What type of system and rules might work better for our interests?

Sadly, beyond the disorganized OWS outrage that has waned in visibility, there is no real cogent, organized public debate focused on this right now. A big reason is that Washington is actively avoiding such a dialogue. It was fundamentally complicit in creating the underlying factors resulting in the '08 collapse and it doesn't want brighter light helping the public understand that more clearly.

As a populace we have a decision to make: are we going to get more engaged and start articulating the reform we want to see? For if not, we're making a passive decision to allow the wealth gap to widen further.

In the meantime, Gretchen sees a lot of instability in financial markets that have been allowed to balloon further even though the underlying causes of the '08 crash haven't been resolved. She cautions investors to avoid risk (despite the Fed's encouragements), pay down debt, and have a defensive plan in place should the markets suffer another serious correction in the near future.

Video at the link

There is that, but keep in mind the growing pressure for Fannie and Freddie to return to the NINJA loans.

Also regulation that has delayed foreclosures in some states, specifically Nevada and California. Colorado had a big jump in foreclosures last month, so did Mass (they jumped by 100 percent year over year in Mass). Until Nevada gets back in the game it is going to be no big deal, but in about 6 months when they start to hit in Nevada/Cali/Washington it is going to get ugly.

Her though process and/or investigation is lacking.

1.  OWS is VERY organized.

2.  OWS is coming back out of the woodwork.  They have a world wide stop everything day planned for May 1st.  We shall see how successful they are.

In after some but before others

In.  But I probably won't ever check this thread very often, just like I haven't the last few.

After 5+ years of worrying about shit that I can't control, I'm simply worn out.

What will happen will happen.

In on Page 1 woot! were all going to die

Several of the financing providers I offer have conveyed the desire to start making loans. Slightly higher buy downs than before to make sure they get some money up front

In on 1 - Obama is a disaster.

Someone who works for the New York Times is lacking in the investigation process!!! Never!!!

What? I thought was in November - can you elaborate on this?

 

Let's see how long this lasts.

130 pages

5 timeouts

2 perma-vacations

http://news.yahoo.com/occupy-wall-street-urges-may-1-strike-over-195242003.html

"...Occupy organizers across the country have been mobilizing for months toward a one-day general strike in May.

They're encouraging people to stay out of work and school, and to refrain from spending money. In New York, a coalition of unions and worker justice groups are planning a solidarity march through the city..."

Google results

In on one. I still see us going down the toilet.  Look at real inflation by checking your grocery bill, ammo prices and gasoline. Osama Ben Bernanke is destroying our wealth by creating new digital dollars.

alpha,
listen to the interview, she discusses a lot more than OWS

Off to listen to it.

MayDay? Seriously?

 

OK, so I am not wiling to invest 20 minutes right now.

I did read the snippets on ZH, and I agree with her comments that Dodd-Frank did not address the issues it needed to, and that the TBTF need to be cut down to size.

She is still wrong on OWS, though.

Thanks guys - this May Day foolishness wasn't on my radar at all.

Thank you. Last one was getting impossible to read.

Oh, and in on 1.

In short... the unemployed crybabies are planning a day of crying and not working

In on 1 of the last yasbybic.
 

Let's snip the quote trees, guys.  Makes it a ton easier for the nonposters to follow along.

The end is nigh.  Wait, I'm right?!

Posted Via AR15.Com Mobile

General Mills reports 10%+ inflation on it's input costs (mostly grain I would imagine). Got cereal?

I don't think they are concerned with hiding themselves anymore.

I think we are getting ready to see them go from behind the scenes to actively in your face attempting to fundamentally transform the United States of America.

They (the left) plan something EVERY May first. It's the same often rebadged bunch and very little if anything happenes.

I kept it to two quotes, one of which I was addressing directly.  If it had been any more than that, I would have snipped.  If that violates the rules of the new thread, I apologize.

 

10 - 11% on grains.

Don't forget HFCS is in damn near everything you buy, so that additional cost WILL be passed along.

As will the continued increase in transportation costs.

^^^ its been more than a 10% increase in my food bill since BHO took over.
example...
last year green giant canned veggies were basically $.50 a can
this year they are just under a dollar.

thats damn near double.....




and i made it in one 1

Gasoline this high during a DOWN economy is a very bad sign

Well, here's the deal: the banks who have wound up with all of the bad paper have more or less gotten the ability to selectively foreclose without title.  What is actually coming is a wave of quiet title filings as people try to figure out who actually owns their house as the banks foreclose on the most attractive of the properties in their portfolios.

It won't matter, really –– when the homes are on the market for very little money, they will pull the rest down, and at some point the banks will be dealing with legal action from HOAs, cities, and counties to get them to take care of the properties, pay the taxes, or give them up because the banks that have gotten all of this relief will continue to let most of the empty homes sit.  They only want to turn the ones that they can sell, now, and deal with the other homes that have been empty or are being occupied without the people paying taxes as a portfolio that they don't have to pay for or write down.  At some point the HOAs, counties, and cities will sue them for taxes and fees, and that will be a matter of public record, and the banks cannot possibly defend against thousands of simultaneous lawsuits over taxes and fees from a manpower perspective alone, so they will lose the homes that they don't really want to keep after their own internal triage.  I am sure that they won't take them off of their books either –– why change after two presidents told you that fraud was OK?  Anyway, if the record of the seizure by the HOA or city or county is searcheable (and they mostly are now), then the pension funds, mutual funds, and assorted rich people who bought mortgage-backed securities will be able to see that a)that home is no longer in the MBS, and probably b)that home was listed in more than one MBS and no one knows which owns is (and all are still carrying it on the books, at par value).  And then they will sue the banks, and when they do the formation date of the trusts will be discussed (and how the banks screwed that up, rendering the trusts invalid), the IRS will get involved (you change the status, it's no longer a pass-through deal), the trusts will get broken because of sundry problems (triggering buy-back provisions in every single one of them), and then the holder of the MBS will have to back it out at about 15% of par, if that, after expenses.  And I don't think that any of the banks (BofA, Chase, Citi, Wells, etc.) can afford even a small fraction of their MBS portfolio to crater that way because their reserves are not that large and the MBS portfolios are gigantic.

Nothing is going to slow this down once it gets started.  The barrier of getting 80% of the MBS holders to agree to sue?  Not that hard when there is a rush for the exits because if you don't move first, fast, there won't be any money left.

The only question is when will this get started?

In on 1

Buy staples for the pantry now

In for more info and less quote trees and bickering.

Since Obama has been President the dollar has been deflated.

Outlook bleak.  

Please refrain from voting him a second term.  

That is all.  

And that is one reason why some of us have started buying food in bulk.

I have toyed with the idea of getting a 250 gallon tank to store gas in, but it is so volatile that it is hard to predict when the newest bottom will happen.

That and I don't have $1,000 to drop into that project right now.

Ok, what the H3LL happen in the last threads ?

I was ignoring them and trying to not be so pessimistic.

Am I going to die yet? "Cause I have to do laundry and I'm not going to do it if I'm going to die right after I fold my shirts. Y'all can spray me with Lysol and leave me for the zombies.

Can't have a recovery if you are paying thru the nose for both.