At least you're a Devils fan. The book is already ordered on the Amazon.
The Banks were forced into those mortgages - it was the same people that said “make an affordable product for all or write the community a check” - For some reason the Banks shareholders would like to see them try to turn a profit rather than write a check, go figure. Bernie Frank engineered most of it then blamed the Banks when it failed.
Currency Transaction Report - surely many here have had one filled out on them. Different Banks have different levels that trigger the need for the report - essentially they report that you have deposited or withdrawn cash at a certain amount - if you are on the list you may have a cash business and it triggers a red flag.
And depending on how often you do it, and what your travel patterns are, you may pickup a tail from homeland also.
JP morgan made a record 58 billion last year, wells fargo, etc...records profits....yes my asshole is currently bleeding for their plight.
Many have different levels than $10k - we cannot discuss what that level is. But they are below $10k
You are incorrect - I have written policy for Banks and have to abide by the rule. $10k and under.
No, but I would like if SOMEBODY was paying attention and cares when the doctor is running a pill mill....or when another Scott Tucker comes along....No I dont think they are ALL bad.....but Vought just came out and said...."well if you are bad...we no longer give a fuck"
There's more to the story besides the government's role. Banks made big money originating, servicing and reselling subprime mortgages, which also generally earned higher interest rates. I don't recall banks protesting the govt programs when they were introduced. In fact, some jumped in whole hog to the point of engaging in predatory loan practices. Several hundred small banks went under and blamed it on the subprime crisis, but many were complicit and/or under capitalized.
I am going to tell a little story about 1 person, but this goes to say a lot of mortgages were written like this: the apprentice I was working with bought a house in 04 for 350k. Now I knew he had a truck payment and a Motorcycle payment. When I asked about how they figured is mortgage it was on 2 weeks gross pay. Now in 1981 when I bought my house it was 1 week net. He went bankrupt. These mortgages should have never been written. The part I didn't like but did understand was the bank bailout. These loans were set up to fail.
