MAGIC! Money and Homes Appear in Bank Pockets

Unknown's avatarLivinglies's Weblog

Full circle (or spiral). What is the end result? You start off with the investors having money and now they don’t. You also start with people who own their homes and now they don’t or won’t soon enough if these fake Foreclosures are allowed to continue. You start off with banks being strictly intermediaries with no stake in the transaction. But in the end, the intermediaries own all the homes and have all the money. What is wrong with this picture?

GSEs Remain Backdoor Bailouts for Banks
http://www.ritholtz.com/blog/2012/09/gses-remain-backdoor-bailouts-for-banks/

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Author: timothymccandless

I have spent most of my professional life helping people who were being taken advantage of by systems they did not fully understand. As an attorney, I represented consumers against predatory lending practices and worked in elder law protecting seniors from fraud. My family lost $239,145 to identity theft, which became the foundation for my seniorgard.onlime and deepened my commitment to financial education. Since 2008, I have maintained a blog at timothymccandless.wordpress.com providing free financial education. Not behind a paywall. Free, because financial literacy should not cost money. I trade with real money using the exact strategy described in this book. My current positions: Pfizer at $16,480 deployed generating $77,900 per year net. Verizon at $29,260 deployed generating $51,000 per year net. Combined: 293% annualized pace. These are my only active positions. Not cherry-picked.

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