Central Planner Exits Stage Left

And cash from clunkers begins...

Ok, so I'm having me one of those blond days today

Does the cash for clunkers, stand for the excess crap the banks can't off load
or is the clunker part pertaining to the fraudulent MBS that never got registered?
There had to have been a crap load of those. Karl said that the banks only had 30 days after they were bought. I know there was a heck of alot of lawsuits citing fraud.
Doesn't the FED buying 40 billion a month of MBS kind of get the Investment banks out of a pretty tight spot?
Isn't the American taxpayer really picking up tab for the Mortgage Investment Banks gambling debts again?
It seems to me they are.....

Ohio Faces Budget Shortfall

http://www.10tv.com/live/content/onnnews/stories/2010/11/11/story-budget-shortfall.html


Ohio why are you worried?
Band together and demand that the Investment Banks give back all those recording fees your rightfully owed.
People it's time to stop being stupid here.
The Banks don't have a legal leg to stand on, take back whats rightfully yours and you have no deficit!
Common sense "People"
This advise goes for every state in the Nation!
They owe you!
If you don't get it it's only because your Attorney General fucked you over.
So make sure it does not happen by giving them a little call.



The cuts are coming to Ohio when the state faces a budget shortfall next year.

Everything from Medicaid to education will feel the cuts and Ohio's two top lawmakers admit it won't be pretty, ONN's Jim Heath reported on Thursday.

"Buckle your seat belts because it won't be done quickly," said incoming House Speaker, Rep. William Batchelder (R-Medina). "It's not something you can do without pain."

"Yes, there will be people uncomfortable with some of the cuts, but that's part of the process of deciding," said Sen. Tim Niehaus.

Ohio's budget is around $50 billion and the state faces a shortfall of up to $8 billion.

The federal government likely won't send anymore stimulus money to Ohio and Republicans have vowed no tax increases.

"I think the education community is nervous about what's going to happen," said Damon Asbury from the Ohio School Board Association.

107 Months to Clear Banks’ Housing Backlog

http://globaleconomicanalysis.blogspot.com/2010/11/9-years-of-housing-backlog-at-current.html

The bizarre part is that number can only get worse, because foreclosures have only just begun.

In a story that highlights just how severe and lingering the housing crisis is, the Wall Street Journal reports Number of the Week: 107 Months to Clear Banks’ Housing Backlog


107: How many months it would take to sell banks’ current and shadow inventory of foreclosed homes.

Banks’ vast pile of foreclosed homes doesn’t appear to be diminishing. That’s a troubling sign for the future of the housing market.

Chris Whalen: Head's Up Folks....

http://market-ticker.org/akcs-www?post=170927



Sometimes you have to put a dog down to ease it's suffering, when nothing else can be done for it.
Now is one of those times.
America your being forced to live with a rotting corpse and every day the stench is getting worse.

Home Lenders May Meet States Over Foreclosures Soon

http://www.bloomberg.com/news/2010-10-27/mortgage-lenders-may-meet-with-states-over-foreclosure-probes-this-week.html

A deal for loan modifications.
I'm not hearing criminal procecution here at all.
The question is:
Why not?



A 50-state task force investigating U.S. foreclosure practices may meet with lenders as early as this week, less than a month after JPMorgan Chase & Co. and Bank of America Corp. suspended some home seizures.

“We’ve had several conference calls with major lenders,” Colorado Attorney General John Suthers said in an interview, declining to specify which ones. “The banks want to sit down with the attorneys general. These meetings are being set up,” said Suthers, whose office is a member of the executive committee of the task force

So Much For Bank Claims That Nothing is Wrong with Foreclosures: 4450 Foreclosures Halted In NYC Due to Inaccuracies

http://www.nakedcapitalism.com/2010/10/so-much-for-bank-claims-that-nothing-is-wrong-with-foreclosures-4450-foreclosures-halted-in-nyc-due-to-inaccuracies.html

Lol please be sure to read the third comment down, it's priceless.

LJR says:
October 24, 2010 at 7:29 pm
Response from a Banker:




After the dramatic multi-state foreclosure halts by three major servicers, GMAC, Bank of America, and JP Morgan, over the use of improper, “robo signed” affidavits, the new party line from these banks and others who also used robo signers, like Wells Fargo, is that this was a mere “technical” problem, that they had reviewed ten of thousands of pending foreclosures and claimed the underlying information and processes were sound.

A review by the New York Daily News indicates otherwise. Note that New York is a judicial foreclosure state. Be sure to read down to the sentence I boldfaced