Posts Tagged ‘FDIC’

Currently, mortgages are traded between banks and financial institutions like (as) securities, generally in large bundles, but still traded.  The current market prices that these trades are taking place at is currently between $0.18 per $1.00 of face loan amount and $0.28 per $1.00.  But yet, if I or you wanted to pay off the mortgage, we would have to pay the face loan amount plus interest.

Here is the BETTER IDEA.  Let the mortgagees (the homeowners) buy back the mortgage at the current market price of the mortgage. Let them buy the mortgage at 18 to 28 cents per dollar of loan amount.  They can thus cancel the loan that the now owe to themselves and they can then refinance that amount with a full recourse loan, rather than a non-recourse loan, or maybe even a loan guaranteed by Uncle Sam.  This would keep people in their homes, allow a fair playing field, and help the banks monetize their balance sheets.

There are several countries that have programs like this (no I am not a genius) and none of them are facing the situation like the great US of A is facing today.  We must use the markets to solve the problem and this does exactly that!

Spread the word!!!  Let me know what you think….

Is this unbelievable or what?  Those financial institutions not eligible for a part of the free government giveaway of America’s future have devised ways to get in through the back door.  And the government and regulators are welcoming them through the back door!!!!!!!!

Check this out from

NEW YORK ( — Four insurance companies applied Friday to become thrift holding companies and acquire savings and loans, which opens the door for them to seek bailout funds.

Friday was the deadline to apply for funding from the Treasury’s Troubled Asset Relief Program.

Any bank, savings association, bank holding company or savings and loan holding company established and operating in the United States was eligible to apply for some amount of capital from the bailout plan. Insurers and foreign-controlled entities were not included.

The Hartford Financial Services Group, Lincoln National Corp., Genworth Financial Inc. and Aegon NV all submitted applications to become holding companies to the Office of Thrift Supervision (OTS) on Friday.

If we, you and I, can not walk in through the front door or sneak in through the back door, is there a window we can climb through or get in using a “Mission Impossible” break in move?  Please share your ideas through a comment!

Cities and states are asking for bailouts, the Auto Industry is asking to be saved, the Unemployment Funds in 4 states are seeking Fed support, millions of homeowners are behind and in default, credit card companies are raising their rates to force all but the strongest into a default situation.

The system is suddenly rewarding those that were weeek, foolhardy, or just caught in the chaos fostered by others, and then the system is pushing all the rest into the same abyss!!! Can this end well?  Let me know your thoughts.