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Veteran Advisor

Re: Political Cure-All

I am especially impressed by the politicians that care so much for those, whom have made terrible life choices, that they are very much willing to give the shirt off someone else's back to make it "all better" , ..... in exchange for their political support, of course.

Senior Contributor

Re: Something Good on the Airways

That's OK Kraft-t. You may disagree with me all you want. It is a free country

 

 

I have never heard this talking head on the radio before, but am making my mind up from what others here have said, which may be a mistake. But those who stand back and shake their fingers at others who have borrowed up to their azzez ought to walk in the other guy's shoes before shaking those fingers. There is nothing anti christian about borrowing. I cannot understand the connection and it makes me believe if  heaven if full of cash , non borrowers in this world, then there are dam few there..

Senior Advisor

Re: Unfortunately

Far too many people think that a lenders approval means you should borrow the money. Just because you can borrow the money does not mean you should.

 

His approval means that the banker thinks he has enough collateral secure the loan and he thinks you have the means to repay it. He does not know everything going on in your life and may not be aware of future events that may effect your life and finances.

Veteran Advisor

Re: The Song is a Riot....

Sung to Dancing Queen by ABBA

Banking Queen

Oooooooo

Oooooooooo

 

You can build.

You can buy.

Any house your heart desires.

Oo zero down.

 Financing.

 I am the banking queen.

 

Friday night and your cash is low.

I know a place that you can go.

Oh, get your house and use it.

 Go ahead abuse it.

 You can do anything.

 

Go out and have a fling.

 I am the banking queen.

Old and sweet didn’t do a thing.

 Banking queen.

 Don’t complain or you’ll hear me scream oh yeah.

 

You can build.

You can buy.

Any house your heart desires.

Oo zero down.

Financing.

 I am the banking queen.

 

Told the bankers hey you guys.

Make the loans or it’s your behind.

My friends at Fannie sure need it.

Do it my way or beat it

Why are the stocks crashing?

 

That doesn’t mean a thing.

I’m still the banking queen.

Never spanked for a single thing. 

Banking queen.

Don’t complain or you’ll hear me scream oh yeah.

 

You can build.

You can buy.

Any house your heart desires.

Oo, zero down

 Financing

I am the banking queen.

 Oooooooo

 I am the banking queen.

Oooooooo

 

Please feel free to comment with any corrections to the lyrics.  Also if you would like to listen to the song, you can find it here on YouTube.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Contributor

Re: The Song is a Riot....

Hahahahahahahahahahahaha
Advisor

Re: Something Good on the Airways

The country is litered with residential properties that were the result of that. Loan officers on commission, bogus appraisals, falsified income reports...just to make the loan "a go". And then the originator primary bank sold it off to be bunddled with more like them. And yes, much too often the govt. gauranteed or actually wound up holding them, without knowing they were a joke from the start.

 

But it was all started in an office ,in a bank, by an officer of that bank..with the objective of the banker involved to "make the sale" and collect the fees and commissions, which of course were all rolled into that loan that floated off to somewhere, often parts unkown after being rebunddled and re-sold, often multiple times.

 

I personally know two parites who partially beat foreclosure after the foreclosing party couldn't produce the original documents. There were copies at the bank, and the proper leins had been filed filed...but the orignals..which were supposed to travel with the moves in holding were nowhere to be found. They did in fact lose the property, but with Minnesota being a state that has judicial foreclosure options for lenders to get deficiency judgements they weren't subject to any.

Senior Contributor

Re: Something Good on the Airways

Don't you think if the banks had to keep their loans as opposed to bundling them up and selling them off that they would be little more careful about approving some of these high risk loans?

Senior Advisor

Re: Something Good on the Airways

Yes.

Advisor

Re: Something Good on the Airways

Of course, but with the way capital is raised and distributed most banks don't have the leveraging ability to take them on in the first place so they've had to go off to the "Big 6" type banks, or the government (fannie and freddie) who desired all of the economic activty that comes with home building and improvement. AKA W's "ownership society" (not to let the current administration or any others since 1980 off the hook by that--he's just the one who put a name to it).

 

What you say should be a piece in any financial refom bill, but they can't get the most simple requirements past a group of our legislators who are, as Sen. Durbin said, owned by the banks. By the big banks, that is....not yours or mine on the little brick building ins some small midwestern town. I'm sure they'd have loved to have kept them, if everything was on the up and up.

 

 

 

 

Senior Advisor

Re: Something Good on the Airways

In other words...banks make loans they know may not be repaid because the Federal government guarantees them.