Banks Dying Twice?

The multi-trillion dollar bailout of 2008-2009 was supposed to be for all the crazy, stupid foolish losses the banks incurred as a result of the $13 trillion dollar mortgage mess they multiplied into tens of trillions of dollars through “synthetic” CDOs and other exotic instruments.

I have just one question.

How could they still have the prospect of the same loss?

My Answer: The first time was a scam. They had no losses and were not expecting any. They had got away with it, or so they thought. Now, investors, homeowners, attorney generals, and media are onto them. The losses they are going to incur are monumentally larger than any current estimate. Now it’s the real thing. But they already cried for help and got it. Just how many times, Johnny, did your Aunt die? Your homework is due.

14 Responses

  1. please add me to your mailing list.

  2. The all should go down.

  3. Obama is guaranteeing himself to be a one-term president.

    Calling the homeowners ‘dead-beats’ is disgusting.

    To have campaigned for his office on promises to help those same now ‘dead-beat’ homeowners is disgraceful, shameful and cowardly.

    To see that his own mortgages have evidence of at least the robo-signing, thus probably clouding the titles of the properties he sold is ironic.

  4. MERS should suffer the same fate…

  5. What about ALL the write downs that were done by all the funancial institutions in 2005 thru 2007? Everyone has forgotten that these thieves screwed their stakeholders by writing offs of billions!

  6. […] This post was mentioned on Twitter by kim thomas, Theresa Bastron. Theresa Bastron said: Banks Dying Twice?: […]

  7. Sorry but, SCREW EVERYONE EXCEPT THE HOMEOWNERS. This is the United States of America not the United States of Bank of America and it is owned by Americans not by American Insurance Group (AIG).

  8. Neil and everybody, what do we need to do to make the banksters, fraudsters and our wimpy government do something concrete to help the victims not the thieves and liars? Do we send E-mails, make phone calls, contact our reps? I sent an E-mail to the White House telling them I am not a deadbeat, and I voted for Obama. If things keep going south on the mortgage front, I have no intention of voting for him again.

  9. It appears banks are like cats (sorry to insult the felines). They have “9 lives”.

  10. Yes it is due….

    Fraud is prove

    ….and we are due a State by State Moratorium by each Governor!

  11. Tax the renters. Why should they get a free education.

  12. Great Florida Atty blog. Add this to your morning coffee reading after Garfield.

    Matt is a leading foreclosure defense attorney iin South Florida or ground zero of the foreclosure mess in florida.

  13. Oh, Neil, that post was PRICELESS!!! Albeit scary and totally unbelievable.

  14. Unfortunately, it would appear the FED is all too willing to repeat…

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