This video crossed my radar today and left me at least feeling vindicated that what I am seeing in the world of the ongoing ‘mortgage crisis’ and foreclosure melt down is really what is happening, not just to the families and people I know and work with but across the board…
And it’s good to know one is not crazy, at least some of the time.
When these guys do the math for you, you will be shaking your head and asking what the HELL is going on with this bank bailout… But you will NOT be wondering why the loan modifications program is not going anwywhere - not any more. With PROFITS like these from short sales and foreclosures, who the Hell needs a Loan Mod to make a buck??
Short answer: no one. And Espcecially not the banks.
Try as we might we could not embed the video, so you’ll just have to follow this link to go watch it:
Sweetheart Deal FDIC and One West Bank
You may be foaming at the mouth when it’s over - just a warning! But if you DON’T watch it you will never know what they are doing with your tax dollars in this ‘bail out’…
Tags: Bailouts, Banks, Credit Bubble, FDIC loss share, homeowners pay promissory notes as banks profit, One West Profits on Loss Share, Short Sales, taxpayers pay as banks profit
