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Consumer protection agency will fail

Started by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009
Discussion about
Has anyone noticed the hypocricy of creating a new agency inside the fed to protect the consumer against deceptive or abusive mortgages? The Fed already had this power and refused to exercise it! And Obama and Barney Frank have the balls to say things have changed. All anyone has to do is look up HOEPA! ------------------------------------ http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1367973... [more]
Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

aboutready
about 3 hours ago
ignore this person
report abuse
let's knock over some fire hydrants. some of us can do it for sheer fun, some for p&v, others in protest of an unwieldy gov't.

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

Anyway, the husband's father dies. He flies home. She stays in Rome.

I don't know what to say.. Of course three air-line tickets are expesnive, but it sends a terrible message to the grand-daughter. Also the lack of emotional support assuming the husband as close to his father.

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Response by columbiacounty
over 15 years ago
Posts: 12708
Member since: Jan 2009

riversider---how good a time are you having? aren't you ashamed of yourself?

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

"I don't know what to say.. Of course three air-line tickets are expesnive"

Yeah I guess you are right. Next time the husband's father dies, if they are closer home they can think about it if they can get a 21 day advance purchase fare.

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Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007

Actually no rs. He never went to Rome. He went home before the rest of us for work.

Wow, such a level you're sinking to. Nice

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

So why did you and your daughter skip the funeral? If you disliked your father-in-law I guess that would be an extenuating circumstance. Just curious, you must admit it sounds cold.

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Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007

What funeral? There hasn't been any funeral. He's being buried at Arlington. There's a three month wait, at a minimum.

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

Got it, he was already home (he's the worker in the family), you were on vacation, you didn't bother to return.

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

When is the next vacation?

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

So no ceremony, family grieving , nothing? for three months?

I do not understand this at all.

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Response by columbiacounty
over 15 years ago
Posts: 12708
Member since: Jan 2009

why are you feeding this troll? why is this ok? you are a complete hypocrite.

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

dnfcc

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

only after mid-night.

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Response by columbiacounty
over 15 years ago
Posts: 12708
Member since: Jan 2009

riversider---you are a complete hypocrite. why do you continue to interact with hfs?

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Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007

Rs, he died last week. A couple of days before I returned. Freak accident, dead within a day. There will be two memorial services. Neither have occurred yet.

You really are outdoing yourself here.

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

ok, i'll back off. if you had no opportunity to return then the criticism is unfair...

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Response by columbiacounty
over 15 years ago
Posts: 12708
Member since: Jan 2009

oh...how nice of you, you lying hypocrite.

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

oh...how nice of you, you lying hypocrite.

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Response by columbiacounty
over 15 years ago
Posts: 12708
Member since: Jan 2009

been there, done this.

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

" if you had no opportunity to return then the criticism is unfair..."

All that money saved on renting at PVC, and the ticket home was too expensive? Oh well, maybe next time he dies.

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

Back to the Times piece. Wall street saw their clients as counter-parties. According to the account when they learned the loans were bad they just took advantage to earn a higher profit. The were not acting as a fiduciary, and instead ripped off their clients. This is why wall street should be acting as a placement agent and not treat every buyer as someone who deserves to be ripped off.
--------------------------------------------------------

But some on Wall Street went further than simply peddling loans they knew were bad, according to the people briefed on some investigators’ findings. They say the firms used these so-called scratch-and-dent loans to increase their profits in the securitization process.

When due-diligence reports turned up large numbers of defective loans — known as exceptions — the banks used this information to negotiate a lower price on the mortgages they bought from the original lenders.

So, instead of paying 99 cents on the dollar for the problem loans, the firm would force the lender to accept 97 cents or perhaps less. But the firm would still sell the mortgage pool to investors at 102 cents or higher, as was typical on high-quality loan pools.

Wall Street enjoyed the profits these practices generated. And because lenders were financed by the Wall Street firms bundling the mortgages into securities, they were hesitant to reject too many dubious loans because doing so would slow the securitization machine.

http://www.nytimes.com/2010/07/25/business/25gret.html?ref=business

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

"Back to the Times piece."

What about aboutready's father in law dying and she remaining on vacation?

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Response by dwell
over 15 years ago
Posts: 2341
Member since: Jul 2008

Hey Ulster,
Ignore the old gray lady. She's irrelevant & no one cares what she has to say

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

Is it not customary for the family to get together at least or pay a call of respect? It really sounds like this is not a close family.

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

The daughter had a hissy fit because her dress didn't have enough colors.

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

I would really like to see more counties..

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Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007

rs, the family was together at his deathbed. It physically wasn't possible for me to be there. It wasn't physically possible for me to get back before his death.

But just keep on showing your real colors

dwell, not a grey hair on my head

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

So you went later?

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

" It wasn't physically possible for me to get back before his death. "

How many days after he died did you say you returned?

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Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007

Rs and hfs. Maybe nada was right, after all.

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

http://webcache.googleusercontent.com/search?q=cache:pWTYD2RmhFIJ:https://streeteasy.com/nyc/talk/discussion/21642-cockney-rhyming-slang-and-brokers

greenecounty
about 14 hours ago Good to know.
This one though is worth reading, just posted:

columbiacounty
2 minutes ago
stop ignoring this person
report abuse
Hi...I,m actually hfscomm and I'm a complete asshole.

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Response by columbiacounty
over 15 years ago
Posts: 12708
Member since: Jan 2009

of course.

he/she/it is just having a grand old time here.

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

Who?

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Response by dwell
over 15 years ago
Posts: 2341
Member since: Jul 2008

AR,

"dwell, not a grey hair on my head"

No, this doesn't refer to you, it refers to cc who is greyed out cuz he's on ignore. I wuz tryin' to be witty & equating cc with NYTs: both are irrelevant grey ladies.

Ar, I will not fight with you. Last we left it, I stated that because we seemed unable to communicate civilly, I decided not to communicate at all & I prefer to leave it that way cuz the dialogue gets too hot. However, my condolences on the loss of your father-in law.

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

Ditto.
I'm done if as well if a.r. will leave me alone.

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Response by upperwestrenter
over 15 years ago
Posts: 488
Member since: Jan 2009

but, i won't.

you are a lying hypocrite.

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

"However, my condolences on the loss of your father-in law."

Better directed to the husband. Aboutready doesn't seem to care. It isn't her family. The husband is just there for utility purposes anyway, to work to support aboutready and the trust for the daughter.

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

oh look, columbiacounty logged in as upperwestrenter

Hot Dog!

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Response by dwell
over 15 years ago
Posts: 2341
Member since: Jul 2008

upper west schmendrik

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Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007

dwell, thank you for your condolences. As you will have noticed I've honored your decision. Sorry I misunderstood your comment. And I won't even talk about the comment. See, restraint.

rs, particularly after this recent horrifyingly unwarranted line of questioning I'm not really so inclined toward peace. I'll think about it.

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Response by upperwestrenter
over 15 years ago
Posts: 488
Member since: Jan 2009

we're just playing tricks with you. It's psychological warfare hotdog boy.
I'm crazy like that.

CC is the rational one.

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Response by greenecounty
over 15 years ago
Posts: 330
Member since: Jun 2010

Thank you for the kind words.

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009
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Response by dwell
over 15 years ago
Posts: 2341
Member since: Jul 2008

now, dat's musik!

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Response by dwell
over 15 years ago
Posts: 2341
Member since: Jul 2008

River,
As far as NYC music videos go, I think Kent Swig wins the title of biggest midtown schmendrik. He kills a protest by hiring a high school marching band:
http://ny.curbed.com/archives/2007/05/01/as_the_sheffield_turns_we_think_we_love_kent_swig.php

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009
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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009
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Response by dwell
over 15 years ago
Posts: 2341
Member since: Jul 2008

River,

that is freeking hilarious. Thank you.

Until age 11, I thought my birth name was Nudnick. I realize I've been spelling 'schmendrik' w/o a 'c'. I guess it's the blue bloods that use a 'c'. The litvocks were too poor to afford a 'c'.

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Response by ulstercounty
over 15 years ago
Posts: 87
Member since: Jul 2010

aboutready
about 1 hour ago
dwell, thank you for your condolences.

most people I know would say, "thank you, he was a good man" or "thank you, we loved him and will miss him", or "thank you, he had a good life", or "thank you, he didn't have an easy life but he loved his granddaughter", or "thank you, he was a kind person, we loved him", ...

not "yeah, thanks for the condolences. I wasn't there when he died, kind of fucked up my vacation. Ugh, only 3 weeks until my next vacation. At least he can't fuck that up. oh, thanks dwell"

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Response by dwell
over 15 years ago
Posts: 2341
Member since: Jul 2008

here's another goodie:

SHMEGEGGE: A petty person, an untalented person

There's another word I adore, but I'm not sure how to spell it & it's kinda dirty. If I ever see you, I'll tell you in person.

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

One more dwell. I think that was it for this strip..

http://comics.com/pearls_before_swine/2009-02-25/

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Response by dwell
over 15 years ago
Posts: 2341
Member since: Jul 2008

Another delish piece of strudel, River. But, I don't think SE (streeteasy) shtinks!! lol!!

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Response by dwell
over 15 years ago
Posts: 2341
Member since: Jul 2008

bed bugs: bed gavonsin

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Response by LICComment
over 15 years ago
Posts: 3610
Member since: Dec 2007

How can aboutready not understand the stronger rights to property of owners compared to renters? That is her either being disingenous or lacking comprehension.

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

She's a libertarian socialist. and is against private ownership. I guess from that point of view renters "own" their home... I'm having trouble understanding this. I looked up the definition of RENT ,"a payment made periodically by a tenant to a landlord in return for the use of land, a building, an apartment, an office, or other property". I don't see how you can call a leased residence your home in the same way someone who holds title to it.

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Response by LICComment
over 15 years ago
Posts: 3610
Member since: Dec 2007

I guess you can call any place that you sleep and store your possessions your "home" in an emotional sense, but you don't own it.

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

I sure hope John Kerry is for free and open markets..
and notice how he manages his taxes...

http://news.bostonherald.com/news/politics/view.bg?articleid=1270040
New England boat builders say shame on Sen. John Kerry for buying a $7 million New Zealand-built luxury yacht while local ship makers struggle to find work.

“Darn, that would have been a wonderful job for a Maine builder,” said Jane Wellehan, president of the trade group Maine Built Boats. “If someone comes to build a $7 million boat that would employ half the population of some towns for a year or two. Boat building is such a critical component of our coastal economy.”

Massachusetts has a 6.25 percent sales tax and local boat excise taxes, but Rhode Island does not tax boats. Kerry has homes in Boston and Nantucket, but has said he docks his yacht in Newport for upkeep and charter purposes. Kerry’s spokesman has said the senator will pay taxes if they are owed.

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

Where Kerry Docks His Boat: Senator John Kerry of Massachusetts is docking his new, $7 million, 76-foot New Zealand-built yacht in Newport, Rhode Island — 65 miles east of Nantucket, where he summers with his wife, the Boston Herald reports. But for that mild inconvenience, Mr. Kerry saved approximately $437,500 in sales tax and an annual excise tax of about $70,000 because Rhode Island has no tax on boat sales and use.

http://thecaucus.blogs.nytimes.com/2010/07/24/the-saturday-word-what-jobs-these-jobs/

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Response by Truth
over 15 years ago
Posts: 5641
Member since: Dec 2009

You folks are still going at it!

dwell: You just made it onto the funniest guys on SE list.

When Kerry was running, his wife had my entire block closed down by the Secret Service -- so she could get her hair done at a salon on my street. I threatened to call the Press, and they finally let me walk to my building.

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Response by dwell
over 15 years ago
Posts: 2341
Member since: Jul 2008

Hey Truth,
Thanx, yeah, yesterday was fun.
Madam Kerry: a cross bet Zsa Zsa Gabor & Mother Jones.
Remember she called herself an African-American? Ucch

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Response by Truth
over 15 years ago
Posts: 5641
Member since: Dec 2009

Oh yeah! And she had some dumb-ass medical advice that she was spouting off about.

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Response by dwell
over 15 years ago
Posts: 2341
Member since: Jul 2008

Yeah, at least we don't have to listen to hear annoying voice & ketchup face. Sail away, dahhhling!

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Response by Truth
over 15 years ago
Posts: 5641
Member since: Dec 2009

dwell: Maybe a mother-sized whale will breach their yacht.

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Response by lewiscounty
over 15 years ago
Posts: 15
Member since: Jul 2010

county?

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Response by conradcounty
over 15 years ago
Posts: 124
Member since: Jul 2010

columbiacounty ,you seem upset. Is it because aboutready wished us farewell? Conveniently timed the morning she was going on vacation?

She'll be back. She wished streeteasy farewell two years ago. Jsmith posted the link to her farewell, didn't you see it?

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Response by conradcounty
over 15 years ago
Posts: 124
Member since: Jul 2010

jsmith9005
about 11 hours ago
ignore this person
report abuse I think I've heard this before - http://streeteasy.com/nyc/talk/discussion/2496-the-sky-is-falling
Who wants to take an over/under that she posts again within 3 months?

aboutready
about 2 years ago
ignore this person
report abuse I'm sure a number of you will be happy to see my departure (although Spunky, I will truly miss you) but I have found a number of real estate blogs where I don't even feel compelled to post very often, because I agree generally with what's being said (and they're run by real estate brokers, no less.) I'm sure that nervous habit, or excessive boredom, will cause me to check in once in awhile (particularly about specific buildings I might be interested in), but generally I find you guys to be storks with your heads so stuck in the sand its gotta cause some major itching.

New York IS different, just not THAT much. Bye, and good luck.

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