Life in the Empire
The Kleptocratic Empire
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Permalink Reply by BO on
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No doubt, they'll still be paid slave labor wages--and be happy about it. I witnessed the effects of the H1B slave labor program (for skilled workers) when I was a corporate stooge. Indians working for peanuts and scared shitless that they might have to go back. The PTB know how to crack a whip.
Of course, all your other suggestions should have been implemented decades ago. But then, if they had been, we probably wouldn't need this thread.
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Permalink Reply by pan on
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And.....if illegal immigration is stopped, there are always all those prisoners to work for a few cents an hour....
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The gist is basically this: During the boom, the major banks would hire a third party -- usually a firm called Clayton Holdings -- to "taste" some mortgages in a pool after the bank had acquired them. Basically, they'd re-underwrite a sample of a mortgage pool to see if the mortgages were of the advertised quality.
When bad mortgages turned up, the bank could sell those mortgages back to whomever they bought them from, but rather than try to return all the bad mortgages in the lot, they'd simply renegotiate the price of the whole pool (using Clayton's sample as a benchmark for the whole lot).
Then they'd keep the pool and securitize and sell the pool, not informing the end buyer that a significant number of the mortgages were known to be bad already.
Read more:
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Nine stories the press is underreporting -- fraud, fraud and more fraud
ASK THIS | October 20, 2010
From liars' loans to liars' liens, the financial and foreclosure crisis has been one big story of banks defrauding their customers -- a vast criminal enterprise. You wouldn't know it from a lot of the media coverage, though. Regulatory hero and criminologist William K. Black helps connect the dots.
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Bank of America alleged in a court filing this June:
It appears as though many loans and other mortgage-related assets have been double and even triple-pledged to various constituencies
link to article
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...meanwhile, at the G-20 meeting...
G20 to Tim Geithner: 'You're Joking ... Right?'
Proves that you actually can't fool all of the people, all of the time. Seems the US has now lost all credibility. Guess that happens when your society suffers complete moral collapse.
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Can't remember which thread Waldo was posting campaign ads on - here is a completely honest ad
but then.....here is an actual ad
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Permalink Reply by waldopaper on
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the ongoing saga of "what's in your wallet:"
Friday morning another "summons" was stuck in the door. Now "Capital One" is trying to "collect" $3,000.
A few years back, I paid off the card and told them to close my account (not in writing, unfortunately), cut up the card and threw it away. I kept getting envelopes from Cap1, which (unfortunately) I threw away unopened. You guessed it... it went from a "balance" of Zero to $1500... and then the phone calls started... usually semi-annually from whatever chump "collection service" bought the "debt." I told them each to fuckoffeatshitandie because I was NEVER going to pay it. Stopped answering the phone about a year ago. I know several other people are going through the same thing.
Now- suppose I HAD opened those envelopes... then I could have called some robot in India and nargled and haggled about the whatever-it-was "fee" charged for a "card" that I haven't used for at least 5 years. Fucking extortion. And I didn't crawl through 50 years of burned gorilla shit to knuckle under to a bunch of bean-counting lick-spittle hose-sucking boiler-room extortionists. What's it gonna take? Half-a-dozen dead repo-foreclosure pukes who are just "doing their job?"
Maybe THIS is what's gonna bust it.
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The war has started my friend. So much shit going down right now, It's just a matter of time before your wish is fulfilled.
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Oh wow man,,, I wasn't wishin; fer ANY of THIS shit... I wuz thinkin more like this...
Ah, but I was so much older then...
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