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Posted: 8/31/2005 7:28:47 AM EDT
[#1]
After 9/11, ,most banks do daily records backups in multiple locations to prevent such a catstrophe.
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Posted: 8/31/2005 7:33:37 AM EDT
[#2]
I think he meant, what will happen to the banks financially? Alot of underinsured people are going to be defaulting on loans secured by non-existant property. |
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Posted: 8/31/2005 7:36:34 AM EDT
[#3]
Ah, well, in that case, They will default and the banks will lose that which was not covered by PMI or other loan insurance programs. |
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Posted: 8/31/2005 7:37:20 AM EDT
[#4]
Its going to be an economic disaster for sure...
The one group I have no sympathy for is the insurance companies, these scumbags are already whining about the cost. Hey, you collect the premiums from your customers every month or year...you are quick to drop them if they are late with a payment. You write the policies, you know how much is being insured. Now that the SHTF, suck it up and pay it out....oh, don't have enough because your CEO bought billion dollar houses and throw million dollar parties...tough shit...as they said in Goodfellas, F*ck you, pay me. Make your CEO sell his million dollar house..... |
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Posted: 8/31/2005 7:41:55 AM EDT
[#5]
 "I might just be able to smash the whole damned system. Destroy all records of ownership. Think of it, Marty. No more rich people, no more poor people, everybody's the same. Isn't that what we said we always wanted?" Sorry. I love that movie. 
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Posted: 8/31/2005 7:45:29 AM EDT
[#6]
What movie?
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Posted: 8/31/2005 7:51:13 AM EDT
[#7]
What's that called when you move out of a house and simply turn the mortgage over to the bank and walk away? A "quitclaim"? Jim |
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Posted: 8/31/2005 7:52:04 AM EDT
[#8]
Sneakers. 1992. Good flick. |
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Posted: 8/31/2005 7:56:08 AM EDT
[#9]
Sneakers |
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Posted: 8/31/2005 7:58:00 AM EDT
[#10]
Do you think the banks' vaults remained water tight??? Or are they flooded right now?
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Posted: 8/31/2005 7:59:32 AM EDT
[#11]
The vaults I've seen are not designed to seal out water. People and fire yes, water no. Jim |
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Posted: 8/31/2005 8:03:30 AM EDT
[#12]
hopefully all records are destroyed and a few people get out of their loans
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Posted: 8/31/2005 8:07:42 AM EDT
[#13]
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Posted: 8/31/2005 8:11:57 AM EDT
[#14]
In the past, Armageddon would have put an end to both your assets AND debts. Now, the assets evaporate, but your debts live. Or they're zombie debts. Jim |
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