Sheila Bair Suggests $21,000 For Keys and Deed!
Did someone put a “micky” in Sheila Bair’s drink?
According to a report that I just read at DSNews (my apologies that this link was removed in Jan’14: , Sheila Baer is suggesting the lenders give $21, 000 to sellers of 90-day non-performing loans. Besides the stupidity of it, Shelia Baer’s suggestion does not fix anything that is wrong with the lender mortgage servicing business. It seems nobody has jumped on her band-wagon yet which is good.
Here is a thought—follow the money!! How about we take away the big 5 lender’s free government (tax-payer) handout safety net and let them operate like MY business and YOUR business…..on the “do” or “die” system. Does anybody LIKE that idea?
I have been watching with fascination the Attorney General (AG) law suit against the big 5 lenders. The reason I find it fascinating is that I see the big 5 lenders like Gulliver and the AG’s like the little Lilliputians.
So every time the AG’s speak out or file a law suit against the big 5 lenders, I visualize the little arrows with ropes flying over the horizontal body of Gulliver to tie him down as he lies resting. But when he rises from his rest, I visualize the little AG’s dangling and from the end of their ropes about 40 feet off the ground.
I think the big 5 lenders see this AG law suit issue as mainly a nuisance, but it is also a good distraction while they are busy elsewhere creating and brewing up their next 10 to 20 year strategy to sucker regular people into giving them their hard earned money for safe keeping.
The big 5 lenders have investment banking now under their hood, mortgage servicing in their rear-end and Congress in the trunk — that is what I call a “muscle car”.
So what do you think about Sheila Baer’s suggestion?