Posts tagged as:

wall street

Main Street to Wall Street: “We want these swine prosecuted!”

by Moe Bedard

Bloomberg - 
Today, he is disgusted when he thinks about “what Wall Street has done to average, honest, tax-paying, no-loopholes citizens,” and says it makes him ill when he considers that Congress is letting taxpayer-assisted financial outfits get rich “without producing anything of real value to our society.”

Haugaard, one of dozens of readers who e-mailed me [...]

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Wall Street Stranglehold on the Senate

by Moe Bedard

By Moe Bedard
Goodbye cramdown bill, hello reality! It seems like the cramdown bill might get shot down soon. The most depressing aspect of this isn’t that the cramdown bill will potentially be shot down, or at best, passed with multiple restrictions protecting Wall Street, but that our representatives are all but laying down to the [...]

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Loan Modifications a Bad Deal for Main Street?

by Moe Bedard

By Moe Bedard
Today’s New York Times ran an article about the downsides of the incentivized loan modification plans citing potential contractual violations between lenders, servicers and the investors that expect returns on their investments. With the government paying $1000.00 or more to banks that play ball, that is, provide loan modifications per government guidelines, I’m [...]

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Wall Street War Brewing Against Obama Plan

by Moe Bedard

By Moe Bedard
While the likes of Bank of America, JP Morgan Chase, and Wells have signed on to the Obama plan, Bond managers are setting their battle plans against one of the largest government bailouts in history. Arguing that changing the terms of 4 million potential loans would do irreparable damage to the bond market, [...]

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Wall Street Hedge Funds Vs. Homeowners & Barney Frank

by Moe Bedard

House Financial Services Committee chairman Barney Frank is warning Wall Street hedge funds and threatening to subpoena at least two hedge funds, Greenwich Financial Services and Braddock Financial  to testify next month after the funds warned mortgage servicing companies not to participate in federal loan modifications.
“Your decision is a serious threat to our efforts to respond [...]

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5 Ways Wall Street & Washington Set Us Up for the Crash

by Moe Bedard

Nomi Prins, what are the five ways that Washington and Wall Street has brought us to this crisis?
NOMI PRINS: Well, it’s a historical matter, and basically there’s been a lot of legislation that has weakened the regulation of the housing industry and the lending industry and the trading that takes place with it that Wall [...]

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Boiler Room 2.0 – Investors Press Lenders on Bad Loans

by Moe Bedard

Two bad loans go around the outside, around the outside, around the outside……………………
Two fraudulent loans go around the outside, around the outside, around the outside. Now, dosie doe your investor.
Looks like investors have finally got hip to the fact that they bought a bunch of fools gold on Wall Street.
Imagine that? These gigantic investment brokerages [...]

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New Bill Will Let Homeowners Sue Wall Street Over Their Subprime Mortgages

by Moe Bedard

Please watch the MSN Video here

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You have to jail the source. Wall Street, then the Banks/Lenders, then the brokers and maybe some consumers

by Moe Bedard

Reader Contributed – Chris the Mortgage Broker - In response to this post
I’m a broker and let me lend a little light on who should go to jail first. And yes, JacMac is right; you will be attack for your comments before the day is over. Get ready
You have to jail the source. Wall [...]

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Blame us, the lending industry and Wall Street, we DESERVE it, NOT the distressed homeowner.

by Moe Bedard

By Poppy (30 year mortgage industry veteran and senior underwriter) 
Well, my hat is off to you citizens of America, you have not disappointed me once again.  Just about everyone that responds to the articles in the Newspapers and Media that report on this now widening foreclosure debacle, has in their infinite wisdom, deemed that the distressed [...]

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New York Attorney General Subpoeanas Wall Street Brokerages

by Moe Bedard

Alright Wall Street. It’s time to prove that you guys were all innocent brokers of toxic subprime mortgages. It’s time to play dumb and act like you had no idea that what you were slicing, dicing and distributing all over the world was not part of a sick grand ponzi scheme to make you all [...]

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Wall Street Needs to Modify Their Attitude Towards Loan Modifications

by Moe Bedard

We are now in the midst of one of the biggest cluster f*%! that this great country has ever been entangled in. Wall Street movers and shakers are practicing their “everything will be alright” smiles to mask their frightened reality and shaking knees. They say, “Yeah, the mortgage market is crap, I know you lost your [...]

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Countrywide is Ripping Off Their Investors and Foreclosing on Good People

by Moe Bedard

There seems to be so much confusion between Wall Street, the SEC, congress, media, non-profits and homeowners lately in regards to loan workouts and loan modifications. It appears that there is absolutely no clear and concise rule or procedures on how these can be done and who qualifies. It’s as if the formula for approving a loan modification is [...]

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