Comments on: How much trouble are U.S. Banks in?

By: Golem XIV - Thoughts

Golem XIV - Thoughts — Sat, 09 Oct 2010 21:27:49 +0000

I remember that case as well. At the time we all thought, this IS going to be big....and then nothing happened. Until now. Why the delay I can't decide. But now it's spreading like the plague. Is it BofA has stopped foreclosing in 50 states? Thyey are all going tobe caughtn up in it. And Citi CANNOT afford to lose too much revenue nor take too much in put backs or fines.

I have seen some of the paperwork and on my limited glimpse, I would say these suits will NOT go away.

By: dave from france

dave from france — Sat, 09 Oct 2010 19:48:16 +0000

Hi Golem

On the missing paperwork, I do remember there was a case in Delaware where DBCM -- Deutsche Bank Capital Markets -- ran into trouble in the Courts for just that.

Strangely , I think it was rather more than eighteen months ago , but couldn't find any link to it ...

By: Dylan

Dylan — Sat, 09 Oct 2010 16:34:24 +0000

Wow.

This is major.

At least now the CDOs can be linked fraudulently to the banks.

time to seize all the banks.

if only...

By: RichGB

RichGB — Sat, 09 Oct 2010 11:35:32 +0000

Call me cynical, but I now truly believe that rich American people are above the law, especially those that pay the politicians to be in power.
The big American banks will pillage as much real estate as they can and get away with it. The reason they can do this is because politicians risk becoming implicated in racketeering suits if they put up barriers. Even the Nobel prize-winning President looks tainted.

More stuff to stimulate those free radicals:
madness

By: 24K

24K — Fri, 08 Oct 2010 17:34:16 +0000

L
O
L

http://www.myspace.com/strangetowncollective

By: Golem XIV - Thoughts

Golem XIV - Thoughts — Fri, 08 Oct 2010 16:46:21 +0000

I think it's not there yet because news has to be seen to be 'responsible' and 'responsible' only if it deals with stuff that has definitely happened. Stuff that is still incubating, still forming, is NOT yet news. It is specualtion. As such it is not 'responsible'.

And particularly when what is involved might be damagimg to confidence, editors will be under pressure to make sure they are NOT irresponsible.

That is a large part of why news is so much like an arcade driving game. Constantly speeding round blind corners where dangers are always hidden from view till the last second.

That's news. What I write is 'thoughts'.

No room for THAT on a responsible news outlet.

By: jma1975

jma1975 — Fri, 08 Oct 2010 16:33:47 +0000

Hello Golem,

As always a very good (and depressing :-) )article. Numerous things to worry about for the near future.

However, as ever one things comes to mind. Why the hell aren't we reading about this in the Guardian, the FT, the Times, the Telegraph.