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The one thing that offends me the most is when I walk by a bank and see ads trying to convince people to take out second mortgages on their home so they can go on vacation. That's approaching evil.
And if you like 14.4 percent unemployment, if you like the fact that 70 percent of home mortgages in Nevada are underwater, then stay the course. Vote for Harry Reid.
Millions of Americans are struggling to pay their mortgages. They have a right to know whether members of Congress receive sweetheart deals in order to pay for theirs.
Everything that I've gone through since the end of 2010, from me finding out about my financial adviser stealing, mismanaging my money - that affected everything, from child support, mortgages, to me having to sell my properties, me being in and out of court trying to modify my child support. It's a lot to deal with at one time.
What the mortgage bubble was all about was big banks like Goldman Sachs taking big bundles of subprime mortgages that were lent out largely to low-income, highly risky borrowers, and applying this kind of magic-pixie-dust math to these bundles of securities and slapping AAA ratings on them.
Gold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend trillions of them to buy up all these bad mortgages and all other kinds of bad debt, the dollar is going to lose all of its value. Gold will store its value, and you'll always be able to buy more food with your gold.
I think something that forces financial institutions to write down underwater mortgages, I think, would be a sensible thing to do.
In surveys, many borrowers say reverse mortgages have improved their lives and provided money they needed for retirement.
In our equities business, 49 of the 50 most important Lehman clients are back doing business with us. The flows are 75 to 80 per cent of what they were prior to the bankruptcy. The issues which damaged Lehman were around commercial mortgages and illiquid private equity assets.
Fannie and Freddie made two-thirds of all subprime mortgages. That is not a free market institution. That entity, along with the Fed printing too much money back in '03 and '04, caused the housing collapse. So we need to take free markets seriously. That means we have to put an end to all these tax credits and tax deductions and loopholes.