This is off-topic, but does anyone know what BofA finally decided to do with the outstanding Countrywide bonds? There were questions about whether BofA was going to assume Countrywide's debt, and now that the merger is complete I wonder what actually happened.
"remember, we were just like everyone else. The only problem is that housing "values" quit going up. We certainly can't be expected to control THAT!!!!"
Add this statement to the Classic Response hall of shame.
1) Enron- our business is too complicated for you to understand.
2) Bear Stearns - we have plenty of liquidity
3) Lehman- we have plenty of liquidity
4)Indymac - it's the disgruntled employees and damn lawyers fault and by the way we have plenty of liquidity
5) I did not have sexual relaions with that girl.
6) Why do you think we can close on construction loans in the scores of millions in this environment right now for a land development deal? dc1000
I told my friend about Sen. Schumer and Indymac. He went directly to the Indymac branch and asked for all his non-FDIC insured money. The teller's response, "You to? Everyone has been coming in and withdrawing large sums." TRUE STORY!
The El Paso County Sheriff's Department in southeastern Colorado has ended car patrols of its 2,000-square-mile jurisdiction. One Ohio sheriff is putting his deputies into golf carts. Stillwater, Okla., has stopped mowing the grass on nearly half of its parkland. Cleveland is remapping its trash pickup routes to cut costs.
Remember the good old days (a year or so ago) when the CRL predicted that there would be a bunch of subprime defaults because of falling house prices and resets, and lots of old white guys in expensive suits explained in careful detail how they were just a bunch of kooks who didn't know anything?
The report relies most heavily on one lawsuit in particular, Tripp v. Indymac, which has already been dismissed twice by the court as lacking in merit...
...on scienter grounds, as the plaintiffs couldn't demonstrate that IndyMac was aware that their unsound underwriting practices were unsound.
How those dismissals demonstrate that those practices weren't and won't be the cause of IndyMac's demise is a mystery understood only by IMB's corporate communications department.
You linked the wrong version of Whipping Post for IMB, the 5-minute short version. You shoulda linked the 22-minute long Fillmore East live version, because it's taking IMB so long to die.
Proud to say I saw the Bros perform Whipping Post live in 69.
RGMiron writes:
"The Center for Responsible Lending (CRL)"......Where have those guys been the last 7 years .......and why should I listen to them NOW?
Because you haven't been listening to them for the last seven years? They've been around since the last subprime boom in the late 90s and were active in getting the first predatory lending laws passed.
I don't know. I am getting sick of the blame game. How about Dostoiyevsky's Bros K. Ivan confesses to a crime he did not commit but says "we are all guilty."
Prediction. Oil prices won't matter to stock prices in the long term. It's become boring and too predictable. The solution to high prices is higher prices. Demand destruction is uneven for those it impacts. But there is no other way.
This is America. It's the 4th of July and I live in the county in Texas where Audie Leon Murphy grew up. On TCM this morning I watched "The Best Years Of Our Lives". Classic 1946 Willy Wilder's schmaltz but what a Great flic. True values and I'm still in love Myrna Loy.
On the surface, our values have been hijacked. But they are still here, hidden for the lack of a ransom. The ransom is sacrifice for an ideal. My family sacrificed for an ideal. Sacrificed lives and living standards to defeat those who would enslave us. Sacrificed for my education. The secret of life IS life and children are the future.
I know. I live in the real world and there are no ideal solutions. So, trade em if you got em but I still believe in dreams.
My 30 day jumbo didn't mature today but tomorrow. I was there 10 mins before opening and was 5th in line. Two were clueless, two were there like me. I'll be there tomorrow 15 mins early.
Yalt wrote:
"The report relies most heavily on one lawsuit in particular, Tripp v. Indymac, which has already been dismissed twice by the court as lacking in merit...
"...on scienter grounds, as the plaintiffs couldn't demonstrate that IndyMac was aware that their unsound underwriting practices were unsound."
Ah yessss, not guilty by reason of stupidity. Corporate crooks' version of the insanity defense -- but unlike an insanity defense, almost always successful.
"So, trade em if you got em but I still believe in dreams."
Not to be a complete cynic, but "dreams" are the problem. Dreams can be exploited. Dreams can get caught on the hedonic treadmill. Dreams are subject to the call of the siren song. Dreams can be marketed to and morphed until they no longer resemble the initial goal that existed.
I want an equal chance, that doesn't require me to be on a 90 hour a week hunt for suckers to exploit. I want to sell products I believe in.............awww shxxxtttt, I'm dreaming.
It's great for getting you off the fraud charges in a court of law, but once you've played that card it's a bit harder to get off the charges of stupidity in the court of public opinion.
That they'd use the fact that they were successful with the stupidity defense to defend themselves against charges of stupidity is quite astonishingly arrogant, if you ask me.
Hilarious - they try to smear the array of people aligned against them and make a specious argument (the lawsuit having been dismissed has nothing to do with whether its lending practices were abusive or unsound), BUT NEVER deny the truth of the claim. Perhaps because a public company making a known false statement in regard to liability can go to jail.
At closing 65 cents a share today....just what until the disgruntled investors start talking trash when that little 4% gainer on the strong? GM news meets reality and IMB goes back down to a half a buck or less.
Looks like the INDY depends holiday is fast approaching. Cannot wait to see the fireworks.
Anyone want to buy a bank around 1pm Pacific on Thursday?
Andreas-- glad someone else noticed that. I was rereading it, rubbing my eyes, and saying, "Did I miss something here or are they essentially saying, 'Yeah, but you got no proof of dat, Copper! You'll never make it stick!'?"
Of course, I exaggerate. I'm not really surprised at this point. This has become the usual corporate mode when caught in illegal or corrupt practices which they have bribed our government to wink at: don't even bother to deny the claim, just try and smear, intimidate or in some way discredit those attempting to bring you to justice-- and make very sure everyone is aware that all previous attempts to do the same have failed.
IOW, "Nothing to see here... move along... move along".
He protests too loudly.
This is off-topic, but does anyone know what BofA finally decided to do with the outstanding Countrywide bonds? There were questions about whether BofA was going to assume Countrywide's debt, and now that the merger is complete I wonder what actually happened.
and now that the merger is complete I wonder what actually happened.
Your youtube answer
.
Disgruntled employees should always be ignored. They have never been right about anything.
Brilliant music CR. You must be a kid, someone less than 50!
Anyway, it's lawsuits ahoy. I am still trying to find someone that will admit that "the fender bender was all my fault."
Indy just hit the wall at THE Indy doing 205. Plastic shatters..........
"remember, we were just like everyone else. The only problem is that housing "values" quit going up. We certainly can't be expected to control THAT!!!!"
Add this statement to the Classic Response hall of shame.
1) Enron- our business is too complicated for you to understand.
2) Bear Stearns - we have plenty of liquidity
3) Lehman- we have plenty of liquidity
4)Indymac - it's the disgruntled employees and damn lawyers fault and by the way we have plenty of liquidity
Feel free to add more.
"The ONLY evidence is from 3428 disgruntled former employees and 289,576 members of a class action suit and some other plaintiffs..."
Here is a little music for Indymac.
More like:
YouTube - DOPE - Die MotherFucker Die - DRUMS
I am shocked, SHOCKED, to learn that there is gambling going on in this establishment...
5) I did not have sexual relaions with that girl.
6) Why do you think we can close on construction loans in the scores of millions in this environment right now for a land development deal? dc1000
I told my friend about Sen. Schumer and Indymac. He went directly to the Indymac branch and asked for all his non-FDIC insured money. The teller's response, "You to? Everyone has been coming in and withdrawing large sums." TRUE STORY!
And so it begins...
The El Paso County Sheriff's Department in southeastern Colorado has ended car patrols of its 2,000-square-mile jurisdiction. One Ohio sheriff is putting his deputies into golf carts. Stillwater, Okla., has stopped mowing the grass on nearly half of its parkland. Cleveland is remapping its trash pickup routes to cut costs.
Cap Times
7) Blackstone - "My accountant ate my homework."
"The Center for Responsible Lending (CRL)"......Where have those guys been the last 7 years .......and why should I listen to them NOW?
"Feel free to add more."
5) Countrywide - we're in a position to pick up all the business of the smaller joints that are failing.
Here is a little music for Indymac.
I was hoping that youtube would be something more like this.
I am so looking forward to the day that Mike Rowe drops in on Grove Nichols to film an episode of "Dirty Jobs". That would be Emmy material.
Remember the good old days (a year or so ago) when the CRL predicted that there would be a bunch of subprime defaults because of falling house prices and resets, and lots of old white guys in expensive suits explained in careful detail how they were just a bunch of kooks who didn't know anything?
The report relies most heavily on one lawsuit in particular, Tripp v. Indymac, which has already been dismissed twice by the court as lacking in merit...
...on scienter grounds, as the plaintiffs couldn't demonstrate that IndyMac was aware that their unsound underwriting practices were unsound.
How those dismissals demonstrate that those practices weren't and won't be the cause of IndyMac's demise is a mystery understood only by IMB's corporate communications department.
O/T
Just so you know:
If you are traveling to Vancouver, Canada this coming period...
Gas is now $5.90 per gallon. AND
You have new laws about child seats - you will be fined and have your vehicle impounded if the seats dont comply!!
CR,
You linked the wrong version of Whipping Post for IMB, the 5-minute short version. You shoulda linked the 22-minute long Fillmore East live version, because it's taking IMB so long to die.
Proud to say I saw the Bros perform Whipping Post live in 69.
ZERO!
RGMiron writes:
"The Center for Responsible Lending (CRL)"......Where have those guys been the last 7 years .......and why should I listen to them NOW?
Because you haven't been listening to them for the last seven years? They've been around since the last subprime boom in the late 90s and were active in getting the first predatory lending laws passed.
Sue - you can addd :
8) Moody's - a computer glitch that requires investigation of all of our employees to find the scapegoat.
8) Really, the Pinto is safe.
Err. 9)
Indy, oh Indy Mac when you comin' back?
Never!
all I'm going to say is, none of you better say it. And you know what I'm talking about for number 10.
Indy... Indy! Woops, gotta be careful.
We walk from here!
(From the Indiana Jones video game, circa 1986)
10) I think if rape is inevitable, relax and enjoy it.
I don't know. I am getting sick of the blame game. How about Dostoiyevsky's Bros K. Ivan confesses to a crime he did not commit but says "we are all guilty."
Prediction. Oil prices won't matter to stock prices in the long term. It's become boring and too predictable. The solution to high prices is higher prices. Demand destruction is uneven for those it impacts. But there is no other way.
This is America. It's the 4th of July and I live in the county in Texas where Audie Leon Murphy grew up. On TCM this morning I watched "The Best Years Of Our Lives". Classic 1946 Willy Wilder's schmaltz but what a Great flic. True values and I'm still in love Myrna Loy.
On the surface, our values have been hijacked. But they are still here, hidden for the lack of a ransom. The ransom is sacrifice for an ideal. My family sacrificed for an ideal. Sacrificed lives and living standards to defeat those who would enslave us. Sacrificed for my education. The secret of life IS life and children are the future.
I know. I live in the real world and there are no ideal solutions. So, trade em if you got em but I still believe in dreams.
When will we hear from the Gruntled employees/
Tom,
Monica Seles is an independent contractor and, therefore, not considered an employee.
My 30 day jumbo didn't mature today but tomorrow. I was there 10 mins before opening and was 5th in line. Two were clueless, two were there like me. I'll be there tomorrow 15 mins early.
RDawg,
Good luck to you. Smile, say thank you very much, and run like hell.
Well, I guess it is safe to say "The Center for Responsible Lending (CRL)" has not had much of a following in the past 7 years.
If they spoke up, no many chose to listen!!!
Yalt wrote:
"The report relies most heavily on one lawsuit in particular, Tripp v. Indymac, which has already been dismissed twice by the court as lacking in merit...
"...on scienter grounds, as the plaintiffs couldn't demonstrate that IndyMac was aware that their unsound underwriting practices were unsound."
Ah yessss, not guilty by reason of stupidity. Corporate crooks' version of the insanity defense -- but unlike an insanity defense, almost always successful.
Plausible deniability is the key.
Ross
"So, trade em if you got em but I still believe in dreams."
Not to be a complete cynic, but "dreams" are the problem. Dreams can be exploited. Dreams can get caught on the hedonic treadmill. Dreams are subject to the call of the siren song. Dreams can be marketed to and morphed until they no longer resemble the initial goal that existed.
I want an equal chance, that doesn't require me to be on a 90 hour a week hunt for suckers to exploit. I want to sell products I believe in.............awww shxxxtttt, I'm dreaming.
Ah yessss, not guilty by reason of stupidity.
It's great for getting you off the fraud charges in a court of law, but once you've played that card it's a bit harder to get off the charges of stupidity in the court of public opinion.
That they'd use the fact that they were successful with the stupidity defense to defend themselves against charges of stupidity is quite astonishingly arrogant, if you ask me.
Anon,
Don't you believe in ethanol? Sell that and your soul will be at peace.
Anon above,
I was not talking about the dreams of growing hair, getting a pseudo hard xx or Mr. Blandings builds his dream home, although a great flic.
I was reffering to the dreams of our forefathers as corny as that sounds.
Suckers buy into advertizer's dreams. Dreamer's dreams never come true but the goals are set to for others to dream.
Ross- Thoreau said something like it was okay to build your castles in the air, but now it's time to work to build a foundation under them.
On TCM this morning I watched "The Best Years Of Our Lives". Classic 1946 Willy Wilder's schmaltz but what a Great flic.
Directed by William Wyler. Great director, but very different from Billy Wilder.
Hilarious - they try to smear the array of people aligned against them and make a specious argument (the lawsuit having been dismissed has nothing to do with whether its lending practices were abusive or unsound), BUT NEVER deny the truth of the claim. Perhaps because a public company making a known false statement in regard to liability can go to jail.
America, the land of the smear!
At closing 65 cents a share today....just what until the disgruntled investors start talking trash when that little 4% gainer on the strong? GM news meets reality and IMB goes back down to a half a buck or less.
Looks like the INDY depends holiday is fast approaching. Cannot wait to see the fireworks.
Anyone want to buy a bank around 1pm Pacific on Thursday?
Re: Last week, IndyMac's chairman and chief executive, Michael Perry, said the company is trying to raise more capital.
That says it all in detail:
Don't know anything about Indymac, but I sure do like the Allman Brothers music.
Andreas-- glad someone else noticed that. I was rereading it, rubbing my eyes, and saying, "Did I miss something here or are they essentially saying, 'Yeah, but you got no proof of dat, Copper! You'll never make it stick!'?"
Of course, I exaggerate. I'm not really surprised at this point. This has become the usual corporate mode when caught in illegal or corrupt practices which they have bribed our government to wink at: don't even bother to deny the claim, just try and smear, intimidate or in some way discredit those attempting to bring you to justice-- and make very sure everyone is aware that all previous attempts to do the same have failed.
That's an awful lot of disgruntled people willing to lie about IndyMac with evil unsubstantiated anecdotal evidence.