Fareed Zakaria’s guest on Sunday talks some more idiotology on the way to “fix” the manufactured debt crisis is by manufacturing a possible fake alien invasion to create jobs of course!!!!!:
VIDEO: Krugman Wants To Create A Keynesian-Infused Space Alien Economic Bubble To Revive U.S. Economy:
http://dailybail.com/home/video-krugman-wants-to-create-a-keynesian-infused-space-alie.html
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George Carlin funny Video clip: The Truth About Wall Street and Washington:
http://dailybail.com/home/george-carlin-video-the-truth-about-wall-street-and-washingt.html

Here is a funny video with some good laughs. Dave Chappelle On White Collar Crime: I Plead Da Fif:
http://dailybail.com/home/dave-chappelle-on-white-collar-crime-i-plead-the-fifth-video.html

Professor William K. Black was interviewed on the latest Keiser Report..Professor Black describes the society we are living in today as criminogenic as a direct result of no criminal prosecutions for the banking elite, their minions and cohorts… Prof. Black stated that the Clinton administration lifted all restrictions on Wall Street Credit Default Swaps and the like…and the BANKS ARE WHO PUT THE LIAR IN THE LIARS LOANS…..OVER 90% OF THE MORTGAGE LOANS CREATED AFTER 2006 WERE LIARS LOANS….SUCH AS STATED INCOME ALTA A LOANS AND THE LIKE..The fact that no criminal prosecutions by the DOJ has lead to bank plundering and looting and rampant white collar street crime…Prof. Black suggests we demand Eric Holder resign and be replaced by a real criminal prosecutor, I suggest Elliot Spitzer…Prof Black stated that President Obama made a speech to the banksters after he was elected stating he was the only thing standing between them and the pitchforks….pretty telling…..sounds to me like Obama is the problem and Holder is just an accessory which makes him no less guilty but I believe Mr. Holder is only symptomatic of a much larger problem of rampant treason by traitors within our own Government and judiciary……They really need to be routed out and thrown out by the American people. This video clip explains how ZERO fraudsters have been sent to the hooskow in a 6 trillion dollar intergalactic banking meltdown…..
http://dailybail.com/home/william-k-black-on-the-latest-keiser-report-banking-rackets.html

You are so right, Mildred and this is all part of the Ponzi Scheme. Even Ron Paul talks about the fraud and corruption in the gov’t and the Ponzi Scheme which he references himself. I remember all of those programs you mentioned. Too many of the real estate people and the mortgage brokerage sector was all too greedy to join in on those programs for the almighty dollar but all the while it was creating the ‘bubble’ with the inflated pricing, manipulation of the appraisals, etc. I remember one such deal back in 2004 where I told the agent that I did not believe the contract price could be justified with an appraisal based on current comps. She emphatically told me ‘well, if your appraiser cannot hit the numbers then use mine. He does just what I tell him to do’. That prompted me to refer the customer to another broker or lender but not before I warned them of the consequences of inflated pricing. The client ignored my advice, purchased the home via another lender/broker and in 2006 called me to help them with a refi. I could not help them because by that time they were ‘underwater’. It is so sad but those programs were like the plague and doomed to kill the market at a later date…..well, here we are!

Fannie Mae has a long history of being two-faced in their dealings with the public. There is a great deal of difference between not telling all your business (nobody does and that is prudent) and deliberately taking a contrived public position which makes you appear to be on the side of the consumer AND QUIETLY, AND CONTINUALLY, WORKING BEHIND THE SCENES IN A WAY WHICH WILL HARM THOSE SAME CONSUMERS.

Back in the hey day of seller funded down payment assistance from organizations like Nehemiah , Partners in Charities and Ameridream there was a segment of the population which thought these loans were BAD for the consumers and the neighborhoods where they were used. I was living in Indianapolis and very involved in trying to point out that such programs:
a. tricked folks into thinking they actually qualified for the homes they were building
b. moved folks into home ownership who were not prepared to be able to maintain it
c. accomplished this by inflating the value of the home
d. used an assortment of predatory lending practices to accomplish this

Equally important, I (and a few others) took the strong position that:
1. this could deplete the insurance fund of FHA when these loans defaulted (as they were predestined
to do)
2. That neighborhoods would be negatively impacted
3. That consumers would be damaged in the long run

Fannie Mae went out of their way to advertise and distance themselves from these kinds of loans, saying there were not consistent with the “American Dream of home ownership”. They emphatically stated they would not accept such loans from their lending partners, for this reason.

Imagine my consternation when more and more of the REO properties I was receiving as a Fannie Mae Broker were in the same neighborhoods which had been sold primarily as Nehemiah seller funded subdivisions. It was confusing.

How can a house go from being a HUD insured, Nehemiah funded house to a Fannie Mae repo?

Well, the answer I discovered was that Fannie was QUIETLY buying as many of these loans as they could, UNDER THE TABLE, away from any scrutiny about the QUALITY of the loan so they could use the fact that these loans:

a. had more lower income buyers in the pot
b. had more people of color as the owners

COULD CERTAINLY HELP THEM TO MEET THEIR AMERICAN DREAM COMMITMENT

c. then they got bigger bonuses
d. but they kept their nose clean by not having anyone know that they had anything to do with these
toxic loans
It is (WAS) almost totally about making big profits for it’s stock holders. Look where that led.

By 2002 I had had enough of the underhanded tactics and other things I found out while working with them and we mutually decided to part company. I could write a book on the two-faced practices of this institution which is suppose to be about housing Americans. Maybe I will one of these days.

Former Fannie Mae Broker

No one should be shocked that the truth is being revealed.

Then we also have auntie fannie mae BUYING servicing rights on loans from Shank America (when normally auntie would be SELLING those rights on loans owned by FANNIE, not BUYING). Of course it was a back-door method of propping up Shank America for dear little pal Brian Moynihan.

I read a reference to those same servicing rights that auntie bought. Supposedly they were transferred already to another firm. So, if that could be done so readily, why involve auntie unless sweetie Brian got more from sucking up to auntie than he would have gotten from the sale elsewhere?. Auntie probably paid more to her pet than she got from the other commercial company.