March 30th, 2009

yellow_elephant

When Good Banks Go Bad?

Godless UnAmerican God Hater Number N suggested the fun of
Mercy James thought she had lost her rental property here to foreclosure. A date for a sheriff’s sale had been set, and notices about the foreclosure process were piling up in her mailbox.
...
So imagine her surprise when the City of South Bend contacted her recently, demanding that she resume maintenance on the property. The sheriff’s sale had been canceled at the last minute, leaving the property title — and a world of trouble — in her name.

“I thought, ‘What kind of game is this?’ ” Ms. James, 41, said while picking at trash at the house, now so worthless the city plans to demolish it — another bill for which she will be liable.

City officials and housing advocates here and in cities as varied as Buffalo, Kansas City, Mo., and Jacksonville, Fla., say they are seeing an unsettling development: Banks are quietly declining to take possession of properties at the end of the foreclosure process, most often because the cost of the ordeal — from legal fees to maintenance — exceeds the diminishing value of the real estate.

[ cf Banks Starting to Walk Away on Foreclosures ]
WHAT????

Clearly More Proof that teh CRA caused the Icelandic to become Zionist Bolishiviki Banking Konspirikii Darkies with some Crazy New Hip Hop Disco Dance Fever!!!

Now More Than EVER we must Support the War President and the Heroic Mission Accomplished Dancers, as they Rave Against the RINO's of the Evil Liberal Wall Streeters...

I mean...

Uh, does meaning still really matter in this clearly post Surrealist Moment?

Oh yes, THEY ARE BAD! WE MUST STOP THEM!!!!

Or the Terrorists Win!!!
yellow_elephant

In related Happy

One thing you learn rather quickly when working at the International Monetary Fund is that no one is ever very happy to see you. Typically, your “clients” come in only after private capital has abandoned them, after regional trading-bloc partners have been unable to throw a strong enough lifeline, after last-ditch attempts to borrow from powerful friends like China or the European Union have fallen through. You’re never at the top of anyone’s dance card.
...
"The challenges the United States faces are familiar territory to the people at the IMF. If you hid the name of the country and just showed them the numbers, there is no doubt what old IMF hands would say: nationalize troubled banks and break them up as necessary."

[ cf The Quiet Coup (emphasis mine) ]
Or as God Hater America Basher Noted:
But asking the Freaks at the IMF if they have read Shock Doctrine, is like asking YOU if you have read Catch-22
Which I think helps explain why so many folks fail to understand how much the IMF merely wants people to like them....

Ah yes....

What IF americans were obliged to live in the reality they created?

Rather than in the reality that would be the reality, if only it had been more realer, and without all of the Smoke, Mirrors, and Deep Market Fundamentalist Chanting about keeping TinkerBelle alive...

Fortunately it will not be required.

Now More than EVER we must Thank GOD for RoboBushCheneyParis!!
They Shiney!
And Fashionably Fashionable!
And not bogged down in the failed rhetoric of the pre-911 culture of Market Fundamentalism...
yellow_elephant

White People Gone Crazy...

Kathy Lovelace lost her job and was about to lose her house, too. But then she made a seemingly simple request of the bank: Show me the original mortgage paperwork.

And just like that, the foreclosure proceedings came to a standstill.
...
During the real estate frenzy of the past decade, mortgages were sold and resold, bundled into securities and peddled to investors. In many cases, the original note signed by the homeowner was lost, stored away in a distant warehouse or destroyed.

Persuading a judge to compel production of hard-to-find or nonexistent documents can, at the very least, delay foreclosure, buying the homeowner some time and turning up the pressure on the lender to renegotiate the mortgage.

[ cf New foreclosure defense: Prove I owe you ]
But what about faith based economics?

Where is the trust, and the love, that comes from Trusting That the Invisible Foote Of the Markete Knowes The Truee Knowinge about Stuffe?

Clearly as long as SeXularist are allowed to retreat back into the Failed Liberalism of pre-911 Fact Based Stuff, in cahotes you will notice, with Radical Judicial Activists Legislating From The Bench these Failed Pre-911 Fact Based Stuff, how EVER will america beable to be the Land of White Christian Americans???

{ no seriously. I mean, how are we suppose to know which is the Correct CRAZY TALK, if we allow folks to keep dragging stuff back to that faile factualist dogma!!! }
yellow_elephant

Sometimes Coders ARE your Friends....

I have been called the devil by strangers and “the Facilitator” by friends. It’s not uncommon for people, when I tell them what I used to do, to ask if I feel guilty. I do, somewhat, and it nags at me. When I put it out of mind, it inevitably resurfaces, like a shipwreck at low tide. It’s been eight years since I compiled a program, but the last one lived on, becoming the industry standard that seeded itself into every investment bank in the world.

I wrote the software that turned mortgages into bonds.

[ cf My Manhattan Project
How I helped build the bomb that blew up Wall Street. ]
Yeah...

The software in itself really is amoral.

It's like My GOD HATING AMERICA BASHER who was involved with the UnManned Recon Platforms, that are now used as Remote Targetted Killing Systems....

At the time, saving the lives of PeeLots who would be doing the Recon was not a bad thing. That others have opted to use that Technology to allow for "Targetted Killing" - that lovely euphenisms of DEATH SQUADING.... at Gazillion Times the Capital Costs!!! I mean Death Squading use to be a labor intensive solution.... You gets some guyz, you gets them guns, you tell them that the Liberals Are Coming, and they irradicate all forms of Liberalism - including the Nuns, and the women and children...

So please Boys and NonMalePerKin, try to understand what is actually being Automated!!! As the Author of the story noted
The software proved to be more sophisticated than the people who used it, and that has caused the whole world a lot of problems.
( op cit, emphasis mine )
Hum....

What if a CORE part of the reason we like to have a Person In The Loop is that it is too easy to let things run away, when folks do not want to actually be responsible...

Yes, I can think of places where the human factor failed.

But maybe folks will want to think about, well, what it is that they Want the Geeks to do for them, and when are the Geeks SUPPOSE to say that they do not want to get Trash Canned by the "Masters Of The Universe"...

Ah yes, you know, as if american culture were sorta able to get past being "High Skool Musical N".