Western Regional Mortgage Bankers Association meeting from November of 2006. Peter Schiff tells over 1000 mortgage brokers they are about to be out of jobs. Watch how he completely nails the coming real estate/mortgage debacle before anyone else even realized it was coming. www.europac.net … housing bailout bubble economic collapse dollar ron paul federal reserve money
growing pressure as fears intensify about a potential calamity at the firms, which underpin trillions of dollars in home loans. Together they own or guarantee some US.2 trillion in loans, or about 40 per cent of the total value of home loans in the United States. Peter Schiff at Euro Pacific Capital said the two giants were likely to need government bailouts in view of the “dubious quality of their mortgage portfolios”. “Together both firms have less than US billion in capital reserves to …
www.nytimes.com www.fdic.gov www.treasury.gov www.treasury.gov www.treasury.gov www.treasury.gov www.treasury.gov www.treasury.gov … Freddi Mac Fannie Mae Collapse
to creating jobs, helping troubled borrowers avoid foreclosure and providing incentives for home buyers, lenders could soon unleash a torrent of real-estate owned, or “REO” properties — even in markets already flooded with an oversupply of homes for sale. “It’s almost like a tsunami — you can see it coming and you know it’s going to hit but you can’t get out of the way,” said Ann Stickel, vice president of affiliated services with Sarasota, Fla.-based brokerage Michael Saunders & Co. So how …
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On clarification: I shouldn’t have said ALL the interest goes to a bank. Part generally goes to either the Fed or depositor of an interest bearing