April 16, 2008

HousingPANIC Quote of the Day (from the class action lawsuit against Countrywide Toxic Mortgage)


"Countrywide kept investors in the dark and improperly expanded the credit categories of borrowers in a manner that increased risk without disclosing this practice to investors.

Countrywide's greed and malfeasance exacted a cost on investors, and on our broader national economy, and these defendants must be held accountable for their misdeeds."

- New York state Comptroller Thomas DiNapoli, April 2008

15 comments:

Anonymous said...

When is that orange prick going to jail?

ORANGE JINGLE MAIL said...

INSTRUCTIONS FOR WALKING AWAY

SUPPLIES REQUIRED:

1. READY MIX CEMENT

2. EXTERIOR ORANGE PAINT

3. ORANGE ENVELOPE

4. ORANGE DYE

ORANGE ACTION PLAN:

1. PAINT ALL INTERIOR WALLS, CEILINGS, AND FLOORS WITH ORANGE EXTERIOR PAINT

2. MIX READY MIX CEMENT WITH ORANGE DYE AND POUR INTO ALL TOILETS AND DRAINS WHILE STILL WET

3. INSERT HOUSE KEYS INTO ORANGE ENVELOPE AND MAIL THEM TO ORANGE MAN

Russ DoGG said...

Go to jail
go directly to jail
Do not pass GO
Do not collect $200.

Frog march the Tan One!

LibVet said...

Pardon me for repeating myself, but this just kills me.

For years I wondered just what the hell was going on with the housing market. I couldn't turn on the TV and not see a commercial for Countrywide. The idea seemed to be that folks were supposed to draw out the value of their houses, that they were supposed to take vacations, financed by their equity. It seemed so strange to me.

I am not the sharpest tool in the shed, but even I could see something seriously fucked up was happening.

Angelo for President said...

How about a web site dedicated to seeing this punk Mozilo spending the rest of his life in some filthy stinky max security hell hole.

F*ck YOU Mozilo. YOU ARE WHATS WRONG WITH DEAD AMERICA.

Enjoy your legacy of shame and disgrace jaundice face.

drive till you qualify said...

-Begin Urgent Public Service Message-

Attention ALL potential homebuyers that absolutely must purchase a home and cannot wait for the 50% off sales next year:

1. Find the house you want using web resources.

2. Do not contact any real estate agents regarding the property.

3. Contact the owners directly and have them show you the property. If the home meets your needs, urge the owners to dump their real estate agent and lower the price by the sales commission amount.

-Return to Housing Crash Programming-

fitty ways said...

The problem is all inside your payment, she said to me...

The answer is easy if you take it logically...

I'd like to help in your struggle to be free...

There must be 50 ways to dump your mortgage...


She said it's really not my habit to intrude...

Furthermore, I hope by renting you losses can be subdued...

But, I'll repeat myself at the risk of being crude...

There must be 50 ways to dump your mortgage...

Fifty ways to dump your mortgage...


You just send the keys back Jack...

You make a rental plan Stan...

You don't need that new toy Roy...

Just get yourself free...

Hop on the foreclosure bus Gus...

You don't need this house much...

Just send Angelo the key Lee...

And get yourself FREE!

Justice IS being served... said...

Speaking of getting what you deserve dept, here's a used-house peddler that has gone to a war zone for employment.

Imageine your resume being so tarnished you go from 'Bellevue to Baghdad" to earn a living...

Enjoy.

My friend takes job in Iraq April 15, 2008
It’s been tough for agents, a long hard winter, particularly for agents who have not had their license for five years or more. Tough for most everyone, but particularly for newer agents.

I hadn’t heard from my friend, Michael Creel, “heard” in the sense that I had not seen him write a blog post for quite some time. I emailed him never expecting to hear that he has taken a job in Irag for a year or longer.

Quoting from his post, “From-Bellevue-to-Baghdad”, …I’ve been offered, and accepted a civilian contract in the Green Zone to help supply the troops with safe bacteria- free, potable water….I really can’t explain why I feel compelled to go, only that I do, and I am. I’ll be gone for at least 12 months, at which time I will decide if I wish to renew the contract for an additional 12 months. My wife will spend the year in her home in China, and we will vacation together overseas.”

I haven’t known Michael long, only for the six months I was the Broker over at Brio Realty, but we became close. His most admirable trait being the way he glowed when he spoke of his wife. On other topics I often had to remind him to “lighten up” , but when it came to conversations that mentioned his wife, he always beamed from ear to ear.

I admire a man who speaks highly of his wife and isn’t afraid to show his feelings for her.

I worry about Michael being separated from his wife for so long, since I know she is the joy of his life, a life with not enough joy.

It may be hard for many to conjure up any worry for real estate agents in this tough market, but agents are my friends and Michael has made a hard decision on many levels. I wasn’t able to help him much in real estate during this down cycle, though I was able to help several others. The only impact I had was to encourage him to blog, and he clearly was “my best blogger” over at Brio.

It’s a long way from Bellevue to Baghdad. I wish you a good and safe journey, my friend, and hope to see you again. Velocit√† di Dio.

k.w. - southern ca. said...

Nice to see you had your eyes open to the whole scheme.

Even though you couldn't put your finger on it, you still could see something seriously wrong was going on - common sense has nothing to do with what school or degrees you may have under your belt.

Problem is, most people feel they need to have alot of materialism in their lives to feel comfortable and important - in fact, our media always pushes this falsity; when given the chance these people - across all income brackets - will use other people's money to support their over materialistic life-styles.

Now, that has ended, and many of these same people will be forced to "down-size" their life-styles, which is a bitter pill for many of them to swallow - some won't be able to handle it, viewing it as a "step-down" the economic and social ladder, but they won't have
any choice but to "slum-it" for a few years.


LibVet said...
Pardon me for repeating myself, but this just kills me.

For years I wondered just what the hell was going on with the housing market. I couldn't turn on the TV and not see a commercial for Countrywide. The idea seemed to be that folks were supposed to draw out the value of their houses, that they were supposed to take vacations, financed by their equity. It seemed so strange to me.

I am not the sharpest tool in the shed, but even I could see something seriously fucked up was happening.

k.w. - southern ca. said...

It's unfortunate your friend is now working for the devil again - just in another form.
I hope he can find something better, where he isn't forced to whore himself (at least so blatantly) for our greedy US war machine.

You'd think with the billions spent per month on this war, that all troops would have easy access to potable, bacteria-free water.

Where's an accountant when you need one?


Justice IS being served... said...
Speaking of getting what you deserve dept, here's a used-house peddler that has gone to a war zone for employment.

Imageine your resume being so tarnished you go from 'Bellevue to Baghdad" to earn a living...

Enjoy.

My friend takes job in Iraq April 15, 2008
It’s been tough for agents, a long hard winter, particularly for agents who have not had their license for five years or more. Tough for most everyone, but particularly for newer agents.

I hadn’t heard from my friend, Michael Creel, “heard” in the sense that I had not seen him write a blog post for quite some time. I emailed him never expecting to hear that he has taken a job in Irag for a year or longer.

Quoting from his post, “From-Bellevue-to-Baghdad”, …I’ve been offered, and accepted a civilian contract in the Green Zone to help supply the troops with safe bacteria- free, potable water….I really can’t explain why I feel compelled to go, only that I do, and I am. I’ll be gone for at least 12 months, at which time I will decide if I wish to renew the contract for an additional 12 months. My wife will spend the year in her home in China, and we will vacation together overseas.”

I haven’t known Michael long, only for the six months I was the Broker over at Brio Realty, but we became close. His most admirable trait being the way he glowed when he spoke of his wife. On other topics I often had to remind him to “lighten up” , but when it came to conversations that mentioned his wife, he always beamed from ear to ear.

I admire a man who speaks highly of his wife and isn’t afraid to show his feelings for her.

I worry about Michael being separated from his wife for so long, since I know she is the joy of his life, a life with not enough joy.

It may be hard for many to conjure up any worry for real estate agents in this tough market, but agents are my friends and Michael has made a hard decision on many levels. I wasn’t able to help him much in real estate during this down cycle, though I was able to help several others. The only impact I had was to encourage him to blog, and he clearly was “my best blogger” over at Brio.

It’s a long way from Bellevue to Baghdad. I wish you a good and safe journey, my friend, and hope to see you again. Velocit√† di Dio.

Anonymous said...

Just looking at that prick!

Anonymous said...

those same people would be dancing all the way to the bank if this whole mess had not imploded. they would be laughing saying thank you all you house buying suckers. Thanks for keeping me in my 5 houses, my lamborghini, and my trophy wife in jewels and my kids in exclusive private school. if all this had not happened they wouldn't be complaining at all. But it did and now the good times are coming to an end, what costume jewelery, a ford taurus, 1 trac home, and public education. Oh that was only good enough for me. Did someone say something about when the rich folks start to feel the squeeze it's blame everyone but themselves for being GREEDY. Now us po' folk can sit back with popcorn and watch them complain and say oh so now you know what it feels like. They get NO sympathy from me.

Glenna said...

In 2002, a slimy broker enabled my newly divorced "stay at home mom" sister a mortgage from Countrywide for 140,000 based solely on her credit rating which was excellent, BUT... she had no job. I could not believe it when it happened. My sister had a good divorce settlement that carried her through till she could stand on her own two feet, but I still can't believe a company was ever willing to give her that loan to begin with. My sister has been one of the good ones that never defaulted and turned a negative into a positive. However, had it not worked out, I would have still faulted Countrywide for being so wreckless. I hope they get a flogging. Note: I would have been there for my sister, but Countrywide made it so obscenely easy that I didn't have to. They got lucky with this particular "customer" but my sister was rare and kept her committment. Can you really blame the other sheeple in her situation though because Countrywide made it so damn easy? Please note: my sister originally tried to rent but the housing boom in this area was in full swing and there were no rentals because of all the flippers, her only choice was to buy or move in with me. With this liars loan handed to her (although she never lied, the broker knew upfront she didn't have a job) how can you blame her for taking the mortgage. Blame the lender! Please quit blaming the borrowers more than the lenders on this blog!!!! It was a gamble the lenders' never should have made and they lost. Do you and I get to cry over spilled milk if we gamble and lose in Vegas or in the stock market???? Hell no!

wings said...

Re Mozillo:

This sorry ass excuse for an American looks like a muppet that just got ran over by a Mack truck.

Somehow or other, I think he got the face that he deserves.

I'd like to see him in a Chinese communist slave labor camp cracking rocks with a twelve pound sledge for the rest of his life.


Free Tibet...

Citi-ZEN said...

ORANGE you ashamed of the collective economic havoc created bt the banking fraudsters!

I say gather them all up and make them clean up the vacant houses that are now laid waste in eveyones neighborhood.