You should never go full Ata .........
address of Capitol Gazette 888 Bestgate
Aoccdrnig to rseaecrh at Cmabrigde Uinervtisy, it dsone't mttaer in waht oredr the ltteers in a wrod aeappr, the olny iprmoetnt tihng is taht the frist and lsat ltteer be at the rghit pclae. The rset can be a ttoal mses and you can sitll raed it wouthit porbelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe. Fcuknig Amzanig huh?
Argentus and a woman who he had never met before, found themselves assigned to the same sleeping room on a transcontinental train.
Though initially embarrassed and uneasy over sharing a room, they were both very tired and fell asleep quickly... he in the upper bunk and she in the lower.
At 1:00 (A.M), Argentus leaned (carefully) over and gently woke the rather hot and heavily breathing woman saying, "Lady, I'm sorry to bother you, but would you mind reaching into the closet to get me a second blanket? I'm awfully cold."
"I have a better idea," she replied. "Just for tonight, let's pretend that we're married."
"Wow! That's a g-great idea!" Argentus stuttered while breaking out into a hot sweat.
"Good," she replied. "Get your own blanket."
In Jerusalem, a journalist heard about a very old Jewish man who had been going to the Wailing Wall to pray, twice a day, everyday, for a long, long time. So she went to check it out. She went to the wailing Wall and there he was!
She watched him pray and after about 45 minutes, when he turned to leave, she approached him for an interview.
"I'm Rebecca Smith from CNN. Sir, how long have you been coming to the Wall and praying?"
"For about 60 years."
"60 years! That's amazing! What do you pray for?"
"I pray for peace between the Christians, Jews and the Muslims. I pray for all the hatred to stop and I pray for all our children to grow up in safety and friendship."
"How do you feel after doing this for 60 years?"
"Like I'm talking to a wall”
Being a former banker and present day commercial loan broker, involved in credit and finance for nearly 45 years; a business owner for 26 years and a borrower for 35 years, this sort of thing first amazed me then became routine and mundane.
Every client; every borrower, every banker would, for reasons that still catch me off guard sometimes, default to lying right from the git go. Borrowers routinely lie, starting with a verbal interview then to a paper application and finally to closing loan documents.
Bankers would lie about the loan, rates, terms, conditions and how much they love the client.
"Me so horny, me love you long time"
Geez Looweez, every time.
And yet the best way to get a loan is be truthful up front, right from the jump. The bullshit will come out. It always comes out. That's ok. We're human. We got some stuff going on in our lives that we aren't proud of.
The rough patches will be discovered. Finding out up front puts the difficult stuff aside and allows all parties to get down to business
That said, anyone in this business long enough will develop a sixth sense, an almost telepathic ability to discern a lie right up front. They will know when it's coming, can set their watch by how much time will elapse; 30 seconds, 2 minutes, 5 minutes, half an hour, before the first lie issues from their mouth; which type will follow and how many more will ensue. If you get really good at it you can Cliff Notes the succession of lies that will be laid out before the interview even begins Weird.
Regarding Rob Rosenstein, you could write a book about how bad he is at lying. Every pathology, every quirk, every flaw, fatal or otherwise, was rolled out like a Shakespearean sonnet.
'How do I lie to me Let me count the ways'
Given that he was being interrogated by professional liars, er, I mean politicians, these yolks must have laughed their asses off after hours, comparing notes as to who was offered the biggest whopper
I guess this is what we've come to. A nation of liars telling lies to other liars while the country falls apart.
Stevie Wonder approves of this message and asked if he could bitch slap this slimy SOB into next week
BTW. As much as I hate to characterize facial and body types, ya gotta know this cuck was the nerdy dweeby little kid who got the crap pounded out of him every recess. Now that he got some power he's just another irredeemable monster employed in law enforcement; psychopath who's living out his childhood traumas as the FBI head shed
He reminds me of Son of Heinrich Himmler
ZH had an enlightening article on him today
sometimes this makes me wonder what I'm doing in this business
I'll relay my experience going back to around 1975 when Dun and Bradstreet hired me as a financial analyst and business credit reporter. This job involved going out into the field, interview business owners, writing up their credit report and assigning a credit rating based on my analysis, interview, ratio analyses and a 'gut call' as to whether business was worthy of a strong, good, fair or unbalanced(financial data was not good) Over 5 years my interview techniques were refined, business owners were cooperative and 10,000 reports later I actually got good at working with business people.
In those days lending was pretty routine. S&Ls made home loans with 20% down and used conventional underwriting techniques that made sense and kept losses to a mimimum. Banks made loans based on real world factors such as personal income, credit ratings with TRW, standing in the community, job position and other factors that are far less commonplace today. Business loans were made after considerable scrutiny, quality underwriting and not excessive in numbers or amounts
Then all hell broke loose; bringing us to what I call the calamitous and schizophrenic world of lending. With rates still close to zero compared to past decades, the loss of the Savings and Loan stabilizing factors of quality underwriting, reasonable rates, healthy down payments and good credit forced the S&Ls to start down the path to credit hell---stated income loans. Those began earnest in the late 1970's as the S&Ls were forced to take on really bad loans to stay alive. Their failure to avoid extinction lead to some of the worst loans I'd ever seen.
The collapse of the S&L industry dragged in formerly solid banks and other credit making entities to the world of sub prime loans of all sorts. By 1991 the banking collapse was in full swing with around 1,000 banks failing from 1991 to 1994. I'd been in a specialized lending industry focussed on business loans and real estate designed for business owner users. We were forced to make quality credit decisions because my industry was not invested in the garbage that substituted for quality loans due to the S&L debacle.
There was one factor that contributed to terrible credit policies following in the footsteps of bad credit policies that lead to the second largest bank failure episode in US history That was the S&L crash, made far worse when President Carter singing the Community Reinvestment Act. This regulation forced banks and S&L to invest depositors funds and bank capital into areas that were formerly deemed bad risk. I recall walking into a lender's office, seeing a large map of San Diego County on the wall, with a bunch of neighborhoods and regions circled with thick red lines.
i asked this old school banker what they were
He said These are the areas we don't make loans'
I could see these regions were uniformly low income neighborhoods, ghettos and other places generally filled with people of color. San Diego's poor neighborhoods were clearly defined by race and color. The barriers were hard even though most people would not notice them because they weren't coded like Watts, Harlem or other obviously racially defined places.
He also saw that for him to be a lender and comply with this rigid CRA regulation he had to scrub the red lines and start making loans in areas heretofor deemed untouchable Not that he didn't grit his teeth, curse the government and make what he called "Nigger No Pay Back Loans" but did he ever fuck the homies in the hood with nasty rates, terms and conditions If he had to make loans to poor neighborhoods he was going to charge them up the ass in points, fees and interest rates. To say this disgusted me is an understatement.
From that early exposure in the 1981-1987 period with the emergence of sub prime loans and other terribly badly underwritten loans, done in an era were interest rates ranged from 10-20%, the bankers slowly found out that this form of lending, making questionable loans to less than creditworthy people, was a huge profit windfall. The Feds opened up the flood gates with loan guaranty programs for every type of loan imaginable. FHA, FNMA, VA, SBA, USDA---all of these programs were rolled out in earnest to cajole bankers to make loans where just maybe that was not a good plan.
One hand held the club of CRA, beating banks into making imprudent loans. The other hand held a loan guaranty that used tax payer money to pay banks for credit mistakes and other crappy underwriting stupidity.
After the crash of 1992 the feds forced banks to tighten up credit standards but the dam was broken by then. That attempt to tighten credit standards lasted maybe 2 years Banks got politicians to pass new rules that lowered credit standards, increase FDIC coverage, give more and better loan guaranties and drop interest rates to near zero. The lax credit underwriting standards came at a time when real estate and other lending was in very high demand. Business was doing well so those loans came with a generous guaranty. The usual suspects in the House and Senate actively encouraged this new world of highly aggressive lending, wink wink lax loan standards, obscene loan profitability and almost zero chance of held accountable for bad loans and bad banking practices.
After the first sub prime stated income loan debacle came and went in the early 1980s, we fell right into another one of these crash and burn phased that lasted from 1991 to 1994.
Around 1994 the messes were generally cleaned up about the time Greenspan and his crew wanted to jump start the economy after that hard landing They did this by dropping interest rates into what I call the first iteration of Zero Interest Rate Paradigm. This low cost money from the Fed juiced the business and banking world like nitrous oxide in a 500 CU in supercharged dragster motor. I quit my day job at the bank because that bank was at real risk from being taken over by the Feds due to schenanigans in how they cooked their books. The bank barely survived but I ventured out into a new field of commercial loan brokering that had never been done before. That launch took place at a moment in time that was so ripe for lending, brokering and business growth that I never regretted leaving the bank.
It did cost me around $10,000,000 in stock appreciation of that bank when it was bought 6 years later. In dumping my shares in 1992 when I was the fourth largest share holder I failed to take into account that my boss and other officers were way smarter than me. Oh well.
From this point in time around 1992-ish to most recent days, I've seen such a vast wasteland of bad banking policies, political corruption, criminal activities, other things which taken together makes the average person simply unable to fathom how lending is actually pulled off
I seen great borrowers declined because a loan would not be sufficiently profitable, in other words the loan was refused because the bank couldn't jack rates through the roof. I've seen borrowers with totally crappy creditworthiness get a loan because it was guaranteed by the government, made at nose bleed rates with tons of fees and over charges.
It reminds me of the old west with guns smoking hot, horses dog tired and the pilgrims being run over by every swinging dick cattle rustler (banker) out there.
This might not answer your question as to why you didn't get a loan when your friend with bad credit did get one. The lending field is filled with psychos and grifters to the point that NOT borrowing might be the only way to retain sanity
And when this third turning of credit psychosis unravels you will be glad you use cash and don't get into debt
Best to you
I'm taking the time to construct my own presentations between working hard, and living life.
I see that I have 465 posts that I didn't read, but my wife has been covering the conversation and keeping me up-to-date.
For example, Silver 66 posted a video for me, but I had already watched it the day before.
There's a lot of good material in this video, I kind of like Max's attitude, outlook, and his suggestions for screwing with the powers that should not be.
I also agree that I need help, so I am actively recruiting.
Just sticking to the facts, seems to be sufficient to rally plenty of people to the common cause of freeing themselves from the psychopathic megalomaniacal overtly criminal and genocidal ruling class.
It's turning into more than a hobby.
So good to see you back here~
Your love for your family is evident at all times.
<I'm actually a mom, and my thumbprint is the one who passed and left me his house and silver.>
Tomorrow, July 1 is Canada Day. Canada has announced trade tariffs on goods from the USA that go in to effect that day, likely retaliation for the tariffs the USA put on Canadian goods. Ironically Steel and Aluminum based products are on the list, ya gotta lol at that.
I’d say I like this move but I’m not happy about trade wars.
I have seen a couple of your recent posts.
i had no idea if your situation
Sincere condolences for your loss...
All of the craziness going on in the world
it seems like if someone was trying to connect dots there would be more activity here
More relevant activity to be more precise
what happens when all the boomers pass away and whites are left a minority in America with the socialist brown hordes replacing us?
seems like someone here would give a damn
i suppose this is what you want?
heaven forbid you protect your children and grandchildren.
That was a very interesting explanation of your experience and knowledge of the history of home loans.
i know you didn’t explain for my benefit but thanks anyways man
i remember there being an S&L issue when I was young but had forgotten
all I know about credit is how I earned 800 lol