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CNBC's Rick Santelli said he can't believe the whole world is not talking about....

 
Lion Hound
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10/01/2010 01:32 PM
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CNBC's Rick Santelli said he can't believe the whole world is not talking about....
Just now on CNBC, Rick Santelli said the traders on the floor can't believe people aren't talking about big name banks stopping foreclosures and the issues with documentation. He said the whole world should be talking about it!

I agree! Free houses for everyone?? lol
Anonymous Coward
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10/01/2010 01:33 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
Just now on CNBC, Rick Santelli said the traders on the floor can't believe people aren't talking about big name banks stopping foreclosures and the issues with documentation. He said the whole world should be talking about it!

I agree! Free houses for everyone?? lol
 Quoting: Lion Hound


I think his issue is more that if the paper is no good, then the debt is no good, which means the entire financial system is insolvent.
Lion Hound  (OP)

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10/01/2010 01:34 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
Just now on CNBC, Rick Santelli said the traders on the floor can't believe people aren't talking about big name banks stopping foreclosures and the issues with documentation. He said the whole world should be talking about it!

I agree! Free houses for everyone?? lol


I think his issue is more that if the paper is no good, then the debt is no good, which means the entire financial system is insolvent.
 Quoting: Anonymous Coward 1116230


Yea that would be the downside.
TheDecon

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10/01/2010 01:35 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
link?
Lion Hound  (OP)

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10/01/2010 01:37 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
link?
 Quoting: TheDecon

It just happened live about 15 mins ago. I'm sure it will be on youtube soon enough.
Lion Hound  (OP)

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10/01/2010 01:40 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
Just now on CNBC, Rick Santelli said the traders on the floor can't believe people aren't talking about big name banks stopping foreclosures and the issues with documentation. He said the whole world should be talking about it!

I agree! Free houses for everyone?? lol


I think his issue is more that if the paper is no good, then the debt is no good, which means the entire financial system is insolvent.
 Quoting: Anonymous Coward 1116230



Actually though, I think he was referring to the inability of the banks to provide documentation as required by the courts in order to foreclose.
Lion Hound  (OP)

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10/01/2010 01:43 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
How many of you out there have a mortgage floating in the derivatives nightmare? Where is the original mortgage with your signature?
Ice Princess
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10/01/2010 01:44 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
No one will get free houses, there would be a civil war. I would think that the purchasers of the bundled securities would sue the banks or the U.S. goverment or someone. No one is going to sit back and get the shaft on all these houses, I can guarantee you that.
Lion Hound  (OP)

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10/01/2010 01:46 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
No one will get free houses, there would be a civil war. I would think that the purchasers of the bundled securities would sue the banks or the U.S. goverment or someone. No one is going to sit back and get the shaft on all these houses, I can guarantee you that.
 Quoting: Ice Princess 875198


Unless we have economic collapse first.
But that won't happen right??
Lion Hound  (OP)

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10/01/2010 01:49 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
No one will get free houses, there would be a civil war. I would think that the purchasers of the bundled securities would sue the banks or the U.S. goverment or someone. No one is going to sit back and get the shaft on all these houses, I can guarantee you that.
 Quoting: Ice Princess 875198



Homeowners fees, taxes, maintainece
Anonymous Coward
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10/01/2010 01:50 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
How many of you out there have a mortgage floating in the derivatives nightmare? Where is the original mortgage with your signature?
 Quoting: Lion Hound


At the county recorder's office!

Really, the whole paperwork thing is just a kink in the hangman's rope.

Just means a delay while the banks get their ducks back in order, then forclosure doom kicks many out to the curb.
Anonymous Coward
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10/01/2010 01:53 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
No one will get free houses, there would be a civil war. I would think that the purchasers of the bundled securities would sue the banks or the U.S. goverment or someone. No one is going to sit back and get the shaft on all these houses, I can guarantee you that.
 Quoting: Ice Princess 875198



and i agree with ice princess. I find myself doing that a lot lately.

but you could drag this shit out for years if not a decade.....:):):)

you HEAR that my fellow 9-5 bottom dweller......fuck it, make them force you out of that house!!! i mean wait until the fucking sheriff shows up.....

meanwhile, save a shitload of money!!!!!

do it!! fuck them!!! they sure as hell dont give us a break by charging us 49 bucks overdraft fee becuase the check didnt post 5 minutes earlier.....

yeah.....fuck them
Ice Princess
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10/01/2010 01:54 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
No one will get free houses, there would be a civil war. I would think that the purchasers of the bundled securities would sue the banks or the U.S. goverment or someone. No one is going to sit back and get the shaft on all these houses, I can guarantee you that.


Unless we have economic collapse first.
But that won't happen right??
 Quoting: Lion Hound


I think it might. There will have to be a moratorium on foreclosures. My aunt is about to become homeless due to foreclosure. She has a lawyer who is suing for attorney fees too because she cant pay him. He thinks her case is strong enough. The bank gave her and my grandma (they lived together) a 75k home equity line of credit on a house they owned outright. Grandma was 84 and not doing well. My aunt is on disability for life for mental illness and receives $600 a month from SSI. The payment was going to be $500 a month on the heloc. Well grandma died two years later and obviously my aunt could not make the payment. Now the bank is foreclosing on a 150k home. The attorney is saying the bank should never have given them the loan and it was a predatory act. The bank did offer insurance in case my grandma died, but it was $900 a month and my grandma's SS was only $1200 a month, so they knew it would be impossible for them to afford it.

I hope she wins. Last thing this country needs is one more homeless person, and the bank should not get to take her home with all that equity in it.
Anonymous Coward
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10/01/2010 01:56 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
No one will get free houses, there would be a civil war. I would think that the purchasers of the bundled securities would sue the banks or the U.S. goverment or someone. No one is going to sit back and get the shaft on all these houses, I can guarantee you that.



and i agree with ice princess. I find myself doing that a lot lately.

but you could drag this shit out for years if not a decade.....:):):)

you HEAR that my fellow 9-5 bottom dweller......fuck it, make them force you out of that house!!! i mean wait until the fucking sheriff shows up.....

meanwhile, save a shitload of money!!!!!

do it!! fuck them!!! they sure as hell dont give us a break by charging us 49 bucks overdraft fee becuase the check didnt post 5 minutes earlier.....

yeah.....fuck them
 Quoting: Anonymous Coward 1085031


Sheriff is about set to show up at my aunt's house anyday. She will lose all her possessions. They give you a few minutes to get out and you lose everything. She is in tears everyday. I hate banks!!
Anonymous Coward
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10/01/2010 01:56 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
Who cares what Rick says?
jerkit
Lion Hound  (OP)

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10/01/2010 02:24 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
Who cares what Rick says?
jerkit
 Quoting: Anonymous Coward 1103566


Rick for President!
RobbRyder..
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10/01/2010 02:30 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
I think his issue is more that if the paper is no good, then the debt is no good, which means the entire financial system is insolvent.
 Quoting: Anonymous Coward 1116230


That is the point... the paper is no good..it it fraud..

They never "lent" you anything... The credit was created with your signature... The typed the numbers in a computer and bingo.. money has been created from your credit.. There is no Debt...

Then they took "your" promisary note and sold it many times over.. Ask to see your blue "wet ink signature" if they cannot produce the note, the are not holder in Due Course.. and have no claim against you..

They will never tell you that your promisary note was copied and the original shredded.. but that's what happens..

They will never tell you that the "money" they made selling your promisary note 40 times... is yours.. but it is..

In actuall fact your house was paid for in full the day you signed the promisary note.. you owe nothing,

The internet is full of information on this, you just have to search... also go to talkshoe dot com.. calls like Dallas Debt discussion or AIB radio are good places to start your education. the calls are recorded and archived.. go listen..

What is happening to the banks, is that people are no longer getting BAR card attorneys and handeling their own business.. Calling out the fraud, makeing them prove their claim (they cannot), and placing maratime liens against CEO's, BAR Fly attorneys, Banks, Judges and..and..and..

There are lots of highley motivated, and now educated private people, that are flushing these turds into the sewer where they belong... GET INVOLVED..

This is just the tip of the iceburg.. it's all being exposed and challenged.. your choice be a slave or a master..
Lion Hound  (OP)

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10/01/2010 02:44 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
I think his issue is more that if the paper is no good, then the debt is no good, which means the entire financial system is insolvent.


That is the point... the paper is no good..it it fraud..

They never "lent" you anything... The credit was created with your signature... The typed the numbers in a computer and bingo.. money has been created from your credit.. There is no Debt...

Then they took "your" promisary note and sold it many times over.. Ask to see your blue "wet ink signature" if they cannot produce the note, the are not holder in Due Course.. and have no claim against you..

They will never tell you that your promisary note was copied and the original shredded.. but that's what happens..

They will never tell you that the "money" they made selling your promisary note 40 times... is yours.. but it is..

In actuall fact your house was paid for in full the day you signed the promisary note.. you owe nothing,

The internet is full of information on this, you just have to search... also go to talkshoe dot com.. calls like Dallas Debt discussion or AIB radio are good places to start your education. the calls are recorded and archived.. go listen..

What is happening to the banks, is that people are no longer getting BAR card attorneys and handeling their own business.. Calling out the fraud, makeing them prove their claim (they cannot), and placing maratime liens against CEO's, BAR Fly attorneys, Banks, Judges and..and..and..

There are lots of highley motivated, and now educated private people, that are flushing these turds into the sewer where they belong... GET INVOLVED..

This is just the tip of the iceburg.. it's all being exposed and challenged.. your choice be a slave or a master..
 Quoting: RobbRyder.. 939588


Yes the tip of the iceberg.

That's why the traders on the floor are in disbelief that it isn't a bigger story
Lion Hound  (OP)

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10/01/2010 03:19 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
I just went to CNBC to look for video.
No luck. Sorry.
Anonymous Coward
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10/01/2010 03:34 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
MSM will not discuss this because if the sheep get wind they stop paying on their mortgages, the ones that still do anyway. If that happens all hell beaks lose, even worse than it laready has anyway. There would have to be some kind of gov't intervention at that point.
Anonymous Coward
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10/01/2010 03:37 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
Produce da note beeyatches!
Mickeyblue

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10/01/2010 03:40 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
The Deed of Trust gets recorded along with an Assignment of Deed of Trust and from there on nothing gets recorded as they have circumvented this recording process, avoiding it each time it is chopped up and bundled along with hundreds or thousands of other instruments. The original note never gets recorded. Disentanglement is nearly impossible.
Mickeyblue
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10/01/2010 03:42 PM

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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
No one will get free houses, there would be a civil war. I would think that the purchasers of the bundled securities would sue the banks or the U.S. goverment or someone. No one is going to sit back and get the shaft on all these houses, I can guarantee you that.



and i agree with ice princess. I find myself doing that a lot lately.

but you could drag this shit out for years if not a decade.....:):):)

you HEAR that my fellow 9-5 bottom dweller......fuck it, make them force you out of that house!!! i mean wait until the fucking sheriff shows up.....

meanwhile, save a shitload of money!!!!!

do it!! fuck them!!! they sure as hell dont give us a break by charging us 49 bucks overdraft fee becuase the check didnt post 5 minutes earlier.....

yeah.....fuck them


Sheriff is about set to show up at my aunt's house anyday. She will lose all her possessions. They give you a few minutes to get out and you lose everything. She is in tears everyday. I hate banks!!
 Quoting: Anonymous Coward 875198

That is really stupid, have a garage/estate sale, sell everything, get some cash, when they show up leave! If she is too stupid to do that, then just let them take her stuff and kick her to the curb Penniless!
"Life is tough, it's tougher if you are stupid." - John Wayne

Settle down Francis!
Anonymous Coward
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10/01/2010 03:45 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
God created humans and made the Earth so that they could breath for free, eat for free drink water for free, move around for free.

Now you have to pay to do all of the above.
Anonymous Coward
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10/01/2010 03:50 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
Just now on CNBC, Rick Santelli said the traders on the floor can't believe people aren't talking about big name banks stopping foreclosures and the issues with documentation. He said the whole world should be talking about it!

I agree! Free houses for everyone?? lol
 Quoting: Lion Hound


Denninger, Zerohedge, and 4closurefraud are talking about it. It will effectively bankrupt the big banks. Sen. Al Franken and an OH election official are calling for federal prosecutions for the fraud.

The only MSM report so far that I have seen was last night on CBS with Couric. But, they pitched it as a "temporary" halt and didn't really touch on the fraud aspect.
Anonymous Coward
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10/01/2010 03:57 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
No one will get free houses, there would be a civil war. I would think that the purchasers of the bundled securities would sue the banks or the U.S. goverment or someone. No one is going to sit back and get the shaft on all these houses, I can guarantee you that.
 Quoting: Ice Princess 875198


Yes, they will in fact get free houses.

That's how it MUST work.

But, Denninger explains why it is actually a GOOD thing (even though it may piss *you* off) because it will:

1. Purge the bad debt from the market, enabling a recovery.

2. Bankrupt the insolvent banks, which MUST happen before ANY recovery

3. The people who get the "free" house will have to file bankruptcy to do it, but so what because they get to stay in their house, the house gets to stay maintained, their credit is shot, but it's ok because they will recover.

4. Home prices will drop to 3X income levels. And getting a home loan will once again be difficult, as it should be...i.e. 20% down, higher interest rates, 3X income pricing.

It's actually a very good solution for the entire country.
The Monk
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10/01/2010 03:59 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
Just now on CNBC, Rick Santelli said the traders on the floor can't believe people aren't talking about big name banks stopping foreclosures and the issues with documentation. He said the whole world should be talking about it!

I agree! Free houses for everyone?? lol
 Quoting: Lion Hound


No problem, Eric Holder will just ignore it like he ignores everything else.
aVian

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10/01/2010 03:59 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
if you want to short the Banking Sector and have a stock account

you can by SKF a 200% leverage against banks

19.62 now

2 years ago it hit 244

ya think this fraud is good for the banks?

NO FUCKING WAY

THE BANKS ARE GOING DOWN
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Frédéric Bastiat

food, water, ammo, weapons, battery back up solar, hand well pump, wood stove and 1 year of food...oh yeah PM's too...good luck
Anonymous Coward
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10/01/2010 03:59 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
Rick Santelli will say anything to get more face time on CNBC. He got a taste of celebrity after his "tea-party" rant and will do what he has to to stay in the spotlight.

If the fraud story has legs it will be a long, drawn-out affair. Real reporters will write books about the details in years to come.
Anonymous Coward
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10/01/2010 04:01 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
[link to 4closurefraud.org]
Anonymous Coward
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10/01/2010 04:12 PM
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Re: CNBC's Rick Santelli said he can't believe the whole world is not talking about....
Because of a neighborhood dispute I went to the courthouse and researched my neighbors. It is all there. I could see who owed how much and who sold to who and when and how much. You are not gonna get a free house. Bunch of bullshit.





GLP