GUEST POST: A Letter to President Obama, from James Deal, Attorney at Law – Mandelman Matters

GUEST POST: A Letter to President Obama, from James Deal, Attorney at Law – Mandelman Matters.

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One thought on “GUEST POST: A Letter to President Obama, from James Deal, Attorney at Law – Mandelman Matters”

  1. These are all great ideas in a “normal” lending environment. But really, securitization is still going on, isn’t it? My grandmother used to execute assumptions all the time in her real estate business before we had all these complicated laws and fees and schemes.

    If the government did everything Mr. Deal suggests, then they would no longer be able to launder money through the insurance companies and the investor pools and defunct lending institutions, derivatives, ad finitum. So, do we think that our government is going to heed suggestions that cut off their money supply? Do we really think that the government wants to stop our bleeding? No. Because if they did, they would have stopped it years ago. There would be nothing to hide. They don’t make money if they change their ways.

    If the government did everything Mr. Deal suggests, they would then have to be fair and honest.

    Why don’t we just stop using these banks? Then we would not have to be beholden to them and their schemes.

    Or, are we asking too much of the public to educate themselves before making a large purchase over time? How about teaching our people how to do that in school?

    And what do we do with the millions and millions of defective titles?
    How can we possibly negotiate with entities that are not even on title? Why should we?

    Why are we giving entities permission to reduce principles on these bogus phantom loans when they don’t own them in the first place?

    Reply

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