Neil Bush with Datamatrix of Dubai's CEO Ali Al-Kamali
The problems occurred in the Savings and Loan industry as they relate to theft because the industry was deregulated under the Reagan/Bush administration and restrictions were eased on the industry so much that abuse and misuse of funds became easy, rampant, and went unchecked.
The Bush Conservative Republicans and the Bush Dynasty learned a very valuable lesson in today's world. "Run up unfathomable debt" then call it mismanagement and a mistake and have everyone else pay your way back to liquidity and wealth. They learned that while the eldest Bush was in office as Vice President and syphoned funds from the FDIC to pay off Neal Bush's debt to society.
THAT STRATEGY has now pervaded the way Americans think about housing and primarily the American Dream. In other words, 'push the limits' in unison and eventually government will be required to 'bailout' business and in turn we will all be better off for it.
Yesterday on Conservative Talk Radio, I heard an anchor state, "It has been my focus and advice to tell people that if they are running into trouble with their lender they should approach them and work out arrangements. Well, I received a call from someone who took that advice and found out there was nothing that could be done by the lender in regard to the home loan because the financing was attached by a stockholder somewhere.
I understand that is an issue, but, there is good news in that FANNIE MAE and other lenders that handle incredible numbers of mortages are moving before the government for a program that would facilitate such mortgages to receive relief from stockholder financed loans. In other words such lenders would have to remortgage those loans in order to profit from them."
This is nothing but exploiting the public by the proponents of a political strategy that serves as a driving force to constituencies seeking to exploit government and business 'in masse.' It has to stop. The learning curve to the reality of Neal Bush's profiteering from gross mismanagement of established financial institutions has lead to a demoralized America and An American Dream that has turned into a nightmare. It needs to end.
Economist: Local trend not entirely unexpected
By Michael Rappaport, Staff Writer
By Michael Rappaport, Staff Writer
California was hit hard by rising foreclosure numbers in March, although the higher rates weren't all that out of line with historical standards.
That's the word from RealtyTrac's U.S. Foreclosure Market Report, which showed six California metropolitan areas - including San Bernardino-Riverside - among the 10 highest in the country. Nationally, foreclosures were up 7 percent from the month before, although California was up 36percent and trailed only Nevada and Colorado for the highest rate of foreclosures.
Up 148 percent from last year
Subprime loans blamed
Subprime loans blamed
The number of default notices sent to California homeowners last quarter increased to its highest level in almost ten years, the result of flat appreciation, slow sales, and post teaser-rate mortgage resets, according to figures compiled by DataQuick Information Systems, a La Jolla-based real estate information service.
Lending institutions filed 46,760 “Notices of Default” (NoDs) during the January-to-March period. That was up by 23.1 percent from a revised 37,994 for the previous quarter, and up 148 percent from 18,856 for first-quarter 2006, according to DataQuick.
Lending institutions filed 46,760 “Notices of Default” (NoDs) during the January-to-March period. That was up by 23.1 percent from a revised 37,994 for the previous quarter, and up 148 percent from 18,856 for first-quarter 2006, according to DataQuick.
Writer12:25 PM PDT, April 16, 2007
The number of Californians losing their homes to foreclosure rose in the first three months of the year to the highest level in a decade, a real estate information service said today, providing grim evidence that the shake-out in real estate is nowhere near over.
Foreclosures totaled 11,033, up 802% from the placid levels of early 2006, according to DataQuick Information Services in La Jolla. Foreclosures peaked at 15,418 in third-quarter 1996, at the tail end of the last big slowdown in the state. They bottomed out at 637 in the second quarter of 2005, as the most recent boom was cresting.
Tens of thousands of homeowners are being warned that they too are at risk. Notices of default, sent by lenders after about five months of missed payments, reached 46,760 in the first quarter, DataQuick said.
This is systematic abuse of consumers to form a political constituency of NEED, reliant on political clout in order to continue their march of economic exploitation at any cost. It's called corruption. It needs to stop and not be further facilitated by 'bad business decisions.' The industry of Conservative Talk Radio and Conservative Cable News is as corrupt as the day is long. It needs to end. They are draconian for the purpose of power. Their constituencies mean nothing to them unless they 'toe the party line.'
It was my hope to deliver a more comprehensive view of gun control which encompasses many dimensions. It can lead to enjoyable gun ownership and responsible gun owernership so long as the corruption can be cleaned up and enforcement of existing and potentially new laws are unheld. Good luck to all. My deepest sympathies for the tragedies at Virginia Tech. I wish I could roll back time and stop it all. We must win this debate and not by arming society but by uniting in efforts to stop this insanity.
I am finished with this mess !!!!!
