
How about: “Bad Canadian! Bad! Bad! Don’t you know who I am? I am THE ONE.”
or
“Hey, smell my finger and guess what I just got done doing to America.”
or find your own- post it here
How about: “Bad Canadian! Bad! Bad! Don’t you know who I am? I am THE ONE.”
or
“Hey, smell my finger and guess what I just got done doing to America.”
or find your own- post it here
I am writing this post because I feel the need to show something to a Blogger friend. This post is for TOTWTYTR, who recently posted a comment to this blog:
Maybe I’m just drinking the conservative Kool Aid, but a close friend of mine who makes money from the financial industry, but not mortgages, explained it all to me. In addition I read up on it.
It started during the Carter Administration, but has gotten worse with each one since. Not only were banks and mortgage companies told that the government would make good on their losses, people like the excrable Barney Frank and Chris Dodd told the lending institutions they’d be labeled as racist if they didn’t lend money to minorities who almost certainly couldn’t pay it back.
As I said, there is plenty of blame to go around, but it’s the politicians, not the banks that deserve the most blame.
Now this post is not a flame, I am just hoping that I can convince those of you who feel the same way that you are being deceived. Here is my proof:
This home right here, a 576 square foot home with 2 bedrooms and one bath, was used as collateral for a $103,000 loan, according to the Wall Street Journal. Less than two years ago, Integrity Funding LLC gave a $103,000 mortgage to the owner, Marvene Halterman, an unemployed woman with a long list of creditors and, by her own account, a long history of drug and alcohol abuse. At one time, Ms. Halterman says, 23 people were living in the tiny house or various ramshackle outbuildings. Ms. Halterman hasn’t had a job for about 13 years, she says. She receives about $3,000 a month from welfare programs, food stamps and disability payments related to a back injury.
Now the Republican talking point states that the banks are not to blame, because they were FORCED to loan to minorities by the Democrats. Here is a picture of Ms. Halterman:
Oops. Not a minority. The motive here was not complying with some rule about minority lending, it was about money. The lending company was owned by Barry Rybicki, 37, a former loan officer who started it in 2003. Of the boom years, he says: “If you had a pulse, you were getting a loan.”
When an Integrity telemarketer called Ms. Halterman in 2006, she was cash-strapped, owing $36,605 on a home-equity loan. The firm helped her get a $75,500 credit line from another lender.
Ms. Halterman used it to pay off her pickup, among other things. But soon she was struggling again.
In early 2007, she asked Integrity for help, Mr. Rybicki’s records show. This time, Integrity itself provided a $103,000, 30-year mortgage. It had an adjustable rate that started at 9.25% and was capped at 15.25%, according to loan documents.
It was one of 197 loans Integrity originated in 2007, totaling almost $47 million.
At closing, on Feb. 26, 2007, Integrity collected $6,153 in underwriting, broker, loan-origination, document, application, processing, funding and flood-certification fees, mortgage documents show. A few days later, Integrity transferred the loan to Wells Fargo, earning $3,090 more, Mr. Rybicki says.
Now picture this, Integrity made a $103,000 loan, and collected $9,243 in fees, and only loaned the money to her for a few days, selling the loan before the first payment was even due. That is exactly what I said was going on, in my series of posts on the lending crisis. The payments on this loan were $881 a month, for a woman who only had an income of $3,000 a month in disability, welfare, and food stamp payments and had not held a job in over 13 years.
The home was valued at $132,000 by the appraiser, even though there is no record of similar homes in the area selling for that price. What makes this case so typical of all this subprime garbage are all the fees that were made by people who had no stake in it: The appraiser made money, then Integrity made money, and Wells Fargo made more when it was sold to HSBC, which also took a cut before dumping it on investors in mortgage backed securities that were inexplicably rated AAA by rating agencies that were somewhere between crooked and incompetent.
Actually, the piece perfectly illustrates the greedy, deceitful practices that has since brought our economy to its knees. It’s a great piece of reporting.
Sure, it is easy to lay all of this at the feet of the borrower, but you would be dishonest in not pointing a few fingers at the lenders who should have known better, but were instead blinded by greed and profit. Three different lenders loaned her money on the “equity” of this nearly worthless home: The first for $36,000, then one for $75,500 to pay off the first, and then another for $103,000 to pay off the second. Each time, she got money at closing, and the lender passed the loan off on investors.
Read the linked article and realize one thing: Just because the Democrats are your enemy does not make the Republicans your friends, and just because the Democrats are lying does not mean that the Republicans are telling the truth.
To understand our Constitution, a person must understand the theory of “Natural Rights.” Natural rights are the rights that all humans possess merely by being born. This theory began with European philosophers in the 17th and 18th centuries, men like Thomas Hobbes, John Locke, and Thomas Paine.
These men believed that denying a person his natural rights would be absurd, like expecting a carnivore to give up meat. In his natural state, according to Hobbes, man’s life consists entirely of liberties and not at all of laws – “It followeth, that in such a condition, every man has the right to every thing; even to one another’s body. And therefore, as long as this natural Right of every man to every thing endureth, there can be no security to any man… of living out the time, which Nature ordinarily allow men to live.”
This would lead inevitably to a situation known as the “war of all against all”, in which human beings kill, steal and enslave others in order to stay alive, due to their natural lust for “Gain”, “Safety” and “Reputation”. Hobbes reasoned that this world of chaos created by unlimited rights was highly undesirable, since it would cause human life to be “solitary, poor, nasty, brutish, and short”. As such, if humans wish to live peacefully they must give up some of their natural rights and create moral obligations in order to establish political and civil society. This is one of the earliest formulations of the theory of government known as the social contract.
Like Hobbes, Locke was a major social contract thinker. He said that man’s natural rights are life, liberty, and property. He greatly influenced the American Revolutionary War with his writings of natural rights.
According to Locke there are three natural rights:
According to Locke, the social contract is a contract between a being or beings of power and their people or followers. The King makes the laws to protect the 3 natural rights. The people may not agree on the laws, but they have to follow them. The people can be prosecuted and/or killed if they break these laws. If the King does not follow these rules, he can be overthrown.
Thomas Paine (1731–1809) further elaborated on natural rights in his influential work Rights of Man (1791), emphasizing that rights cannot be granted by any charter because this would legally imply they can also be revoked and under such circumstances they would be reduced to privileges:
It is a perversion of terms to say that a charter gives rights. It operates by a contrary effect — that of taking rights away. Rights are inherently in all the inhabitants; but charters, by annulling those rights, in the majority, leave the right, by exclusion, in the hands of a few. … They…consequently are instruments of injustice.
The fact therefore must be that the individuals themselves, each in his own personal and sovereign right, entered into a contract with each other to produce a government: and this is the only mode in which governments have a right to arise, and the only principle on which they have a right to exist.
It is for these reasons that our Constitution was built upon the “Natural Rights” theory.
Governments cannot grant rights, they can only deny rights and liberties from one group, while allowing others to retain them. In a future post, I will examine some of how this works, and why certain things cannot be rights under this theory.
Recently, a person came to this blog via a post by TOTWTYTR. The post s from December where 2 EMTs were accused of refusing to help a dying pregnant woman because they were on a break. People are screaming for them to be fired. I would have just placed a comment on the post itself, but it was an old post, and my comments are likely to be a little long.
In the current environment, there is a lot of talk about budget cuts, and much talk about how public sector employees are overpaid, get too many benefits, etc. but in all of this no one seems to notice how public sector employees are held to a higher standard. As an example, the woman who died was an employee of the coffee shop. If the situation had been reversed and the woman would have been off the clock, and the EMTs had wanted a cup of coffee, would people be calling for her to be fired for refusing to do her job while off the clock?
Currently in the State of Florida, and all across the nation, there is talk of cutting benefits. Florida is about to change the rules for the Florida Retirement System to cut retirement benefits in half, and to change the retirement age for high risk jobs from age 50 to age 65. Some departments are discussing cutting hours by not paying responders between the hours of midnight and 6 a.m. if the responder doesn’t have to actually respond to a call for assistance, even though the responders must remain at work ready to respond. Can you imagine a receptionist being required to sit at her desk, but not getting paid unless the phone actually rings?
As a firefighter and as a Paramedic, I am exposed to all sorts of things that a government office worker is not.
Let me tell you the story of Oviedo Firefighter Shane Kelly. Firefighter Kelly stopped to assist victims of an auto accident on the Florida Turnpike in 2002. Shane was off duty. He was killed in full view of his wife when a tractor trailer slammed into the accident vehicles. There were 2 occupants of the truck that killed Firefighter Kelly, and there was enough confusion as to which of them was driving that neither of them was ever charged.
The Federal Government ruled that Sean Kelly was acting in his capacity as a private citizen when he was killed, and since his death was not a line of duty death, his widow was not entitled to any of the benefits of the LOD status. Imagine how you would feel as an EMT, Firefighter, or other responder if you knew that helping an injured person carries the same risk of injury or death whether you are on duty or off duty, except that if you are injured, not only are you NOT paid for your time and skill, but you are not insured for that potentially career ending injury. Who will feed your family? Care for your kids?
In Firefighter Kelly’s case, they rallied some politicians and were able to get an exception in his case, but there is no guarantee that the next accident victim will get the same exception. State law in Florida allows localities to each determine what constitutes line of death, and what does not. In a meeting with my employer’s attorney, where Firefighters were attempting to get a written policy on what would be considered Line of Duty injury for off the clock employees, we were told that such decisions for off duty personnel would be made on a case by case basis by Administration AFTER the fact. I made a comment along the lines of, “So you get to decide AFTER I am injured whether or not you will pay for it. Will that decision take factors like the cost of treatment and PR benefit to you into account?” That REALLY pissed off the attorney. (I call em like I see em.)
Not only will the employer retroactively decide whether or not the employee who stops to help is covered if injured, they will decide on a case by case basis who they will provide legal representation to if the employee is sued by a personal injury attorney. That policy marked the end of my stopping to help in emergencies, and until that policy changes, I will no longer help anyone while I am off the clock. After all, requiring me to do something while not paying me is called slavery.
Many will say that I should just get my own insurance, and to that I reply: How many of you who are not in EMS would pay money to be able to do uncompensated work that could get you injured, killed, or sued? Other considerations: DO off duty EMTS carry equipment? Gloves, pocket masks, defibrillators? If they do not, what can they do that any other bystander can do? Or should the employer provide those items?
If I am at an accident scene, how can I keep other vehicles from hitting me? Should I block the lanes with my personal car, like we do with our ambulances and fire apparatus? If I do, and a semi crashes into my car- will my employer pay for my car? Will my own insurance pay? After all, they will surely argue that they do not cover me for high risk activity like using it as emergency equipment. If my wife is in the car when it is struck, who pays for HER care?
All of this is viewed in light of the new era of budget cuts. Cutting pay, retirement, benefits, and other compensation, and you get what you pay for.
I was at a party yesterday, and a person there was complaining that the attorney general was wasting the taxpayer’s money on a lawsuit that “had no judicial merit.” I said that I wasn’t so sure, and that IMO the Obama health plan was unconstitutional. I asked him which part of the Constitution granted the Federal Government the power to force me to buy a product.
His reply was that the government already does this when they force you to buy car insurance. This was easy to rebut, because the Federal Government doesn’t force you to buy insurance, that is a state law, and that law still allows a driver to be self insured, doesn’t require you to have insurance if you don’t have a car, nor does it require that you buy insurance to operate a car upon your private property.
I told him that the Obama plan will not work, because it requires an insurance company to cover a preexisting condition, so people will have no reason to get insurance until they are sick, and since the “fine” for not having insurance is significantly less than the cost of insurance, they won’t. Thus, a person who gets sick will simply call and purchase the insurance while he is on his way to the hospital.
He responded with some talking point about the last 8 years, blah, blah, to which I responded that I didn’t like Bush, either, but that this discussion had nothing to do with the exPresident, and that we were talking about Obama. He then said that we can’t blame Obama until the first 2 years (HALF the term) are over. So I replied that we could then lay 9/11 and the recession of 2001 directly at the feet of Clinton, since that all happened during the first 2 years of the Bush Whitehouse. “That’s different,” he said.
I moved in for the kill. “So Bush is responsible for all 8 years he was in office, and the first two years of Obama.” His wife, who was standing there agreeing with me, then took him away.
Every supporter of Obama uses the exact same words and phrases in their arguments, almost as if they are reading from a script. It is obvious that they are not thinking about this on their own, that they are simply parroting lines that they have heard somewhere else. This makes them easy to debate, as they are not putting any thought into this.
Patient consent seems like a pretty easy subject when we are in school as a parafetus. In fact, many programs gloss over the subject, but in my experience no single issue gets medics in trouble as often as the subject of consent and refusals. What complicates things further is when a patient is forced to go to the hospital against his will, or a child has to go over the objections of a parent.
In order to explain how this happens, a little explanation about consent and mental capacity is in order. In order for patient care to happen, the patient must consent to this care. The law requires a medic to care for a person who for some reason is incapable of making an informed decision for themselves. Examples include unconscious or intoxicated adults, and children in the absence of their parent or guardian. This is called “implied consent.”
In the event that you have a patient with a medical condition that prevents them from understanding the refusal and its implications, implied consent is the ruler of the day. An unconscious patient gets transported under this doctrine. A patient with altered mental status is a little more difficult. Let me illustrate:
Last shift I was the duty EMS supervisor when one of my crews was dispatched to a fall. Just after arrival, they requested police response for a combative patient. I began driving that way, and within a couple of minutes they called and requested the supervisor.
When I arrived, they told me that the patient, an 80 year old man with a cardiac and stroke history, had fallen down and hit his head on the wall with enough force to go through the drywall and strike his head on the concrete block. The patient’s 30-something year old son called because the patient would not get up off the floor. All adults present are intoxicated. One of the crew on scene met me in the driveway and said the patient’s wife was agitated and wanted them out of the house, and had gone so far as to punch one of the crew members in the face. (Wow- an extra $1.50 an hour to be supervisor and deal with this kind of thing.)
I entered the house, and before I could say anything the wife starts yelling that she wants me to leave the house and telling me that she has a right to refuse. I introduced myself as the person in charge, and with every intention of smoothing things over and allowing the refusal, explained that there were certain rules that we must follow in order to accept a refusal, and that I wanted to ask a few questions. I began by asking the patient the standard “person, place and time” questions. He answered, but his speech was slurred, and he was argumentative about it, then asked me who I was and why I was in his house. Since I had just explained that, I told him that it was my feeling that he was impaired, and that we would be taking him to the hospital. He and his wife protested, and she accused me of practicing medicine without a license. I explained to them and to their family that he had no choice, so he punched me. The cops saw this and wanted to arrest him. He went to the hospital, I didn’t press charges.
So why did I think he was impaired? The cognitive symptoms of a traumatic brain injury (TBI) can include:
– confusion, disorientation, and difficulty focusing attention
– Loss of consciousness may occur but is not necessarily correlated with the severity of the concussion if it is brief.
– Post-traumatic amnesia, in which the person cannot remember events leading up to the injury or after it, or both, is a hallmark of concussion or even more serious brain injury.
– Confusion, another concussion hallmark, may be present immediately or may develop over several minutes. A patient may, for example, repeatedly ask the same questions, be slow to respond to questions or directions, have a vacant stare, or have slurred or incoherent speech.
– Many brain injury victims experience what is known as the lucid interval.
Since he had many of these symptoms, and it is impossible to tell if the symptoms were caused by his stroke history, intoxication, or his injury, and there were no sober (competent) adults to keep an eye on him, the best and only legal thing to do is to take him in for evaluation.
Now there are many here who will accuse me of violating his rights, and to them I leave you with this story:
There was a woman who called 911 because her husband was acting odd. When we arrived, he asked repetitive questions, became combative, repeatedly asked us to leave, and physically assaulted us when we carried him to the gurney. He had been acting much like the gentleman in the previous story. He died on the way to the hospital. His kids were 3 and 5 years old, and will grow up without a dad. Keep that in mind. Every patient deserves an advocate that will look out for them when the patient themselves cannot. In the prehospital setting, that person is the paramedic.
Determining competence is a three step legal process:
Can an individual retain and comprehend relevant information?
Can an individual believe information?
Can an individual use that information to make a choice?
Thus the capacity to refuse is determined by his competence. If a patient refuses and evidence exists indicating an impairment of the patient’s capacities, it is appropriate to conclude the patient may be found incompetent in a court of law. Impairment may be determined by the patients actions, information from bystanders and caregivers, and a good assessment of the scene and patient.
The key here is trying to determine if the patient understands the nature of his illness/injury, as well as the consequences of refusing treatment. To make this determination, we look for his cognition, judgment, understanding, stability, and vital signs. Just because the patient does not wish to be treated is not sufficient proof that their capacity to choose is impaired.
Capacity is a legal minefield. Choose wrongly and you can be sued for abandonment and negligence, or for false imprisonment. For this reason, documentation of your reasons for making the decision that you did is vital.
Now that we are on the path to “free” healthcare, maybe we should see what is in our future here in the good old US of A:
$9 per gallon gasoline in the land where Great Britain used to be.
This is a continuation of Foreclosure Ripoff, Part I, Foreclosure Ripoff, Part II, and Foreclosure Ripoff, Part III. You can read the rest of the story by following those links.
Strategic Default- Going John Galt on the Banks
What is a “strategic default” you ask? A strategic default is the decision by a borrower to stop making payments on a debt despite having the financial ability to make the payments. In other words, just walk away. Business does this all the time, and even uses the Bankruptcy Code to do it- See KMart. Some may call this unethical or immoral, but I am advocating making this decision as a financial one.
If you are sitting in a house that you owe $225,000 on, and that house is only worth $100,000 you WILL NEVER see a dime from the investment that you made in your home. Even if the housing market were to bounce back this year, and home prices increased at their historic rates of 5%, in 20 years your house would be worth $265,000 and you will have paid $372,000 in interest and principal in that time.
Sometimes you have to recognize a bad investment and cut your losses. If you owned a stock that had lost 50% of its value, would you keep dumping money into it? Of course not. The more you pay into this investment, the more you lose.
In the above example, I hold on to that home, and lose $107,000. If I had walked away in year one, and bought another (identical) home in year 5 for $161,000, I can still sell that home for $265,000 in year 20, but I would have only paid $124,000 in payments during the 15 years I “owned” it. Even assuming that I rented a house for the 5 years that my credit was damaged, I still come out with a $75,000 profit, and I am more than $150,000 ahead of where I would have been had I stayed in the home.
It appears like the banks are seeing quite a bit of this.
Sure, a strategic default will hurt your credit. What will losing $200,000 by holding on to a losing investment (the house) do to you? In exchange, you get to take the money you were using to pay your mortgage and pay off other debts during the year or so it will take them to foreclose. Just be careful if you plan on using bankruptcy as an out: skipping the mortgage to pay the credit cards is a no-no. Talk to your attorney.
The IRS may want taxes on any money that is not collected, but until December of 2012, that is not the case for mortgages used to pay for a primary residence. Talk to your attorney or tax professional.
Unless you declare bankruptcy, your mortgager may come after you for the deficiency balance.
If you are going to do it, make your preparations and do it before the banks have their way in the Legislature and make Florida a non-judicial foreclosure state. They are trying to game the system by throwing large amounts of cash at Florida’s Lawmakers. Get out while you still can. I know this isn’t for everyone, but this is really worth a look.
I have put a great deal of thought into this. We still haven’t seen the bottom yet. Interest rates are climbing, and the adjustable rate notes will be adjusting. Phase two of the housing crash is coming.
This is a continuation of Foreclosure Ripoff, Part I and Foreclosure Ripoff, Part II. You can read the rest of the story by following those links.
So the mortgage brokers, aided by the Realtors, began the fraud when they concocted information about income/assets and value of property on the individual loan applications. I know my mortgage broker fudged a few things, and at that he was more honest than most. He had a special appraiser that he used, and he told me that it was to my benefit- a too high appraisal, and my property taxes would be too high, too low and I wouldn’t get the loan. Wouldn’t you know, the appraisal was EXACTLY the agreed upon sale price for the house.
As a result, the mortgage brokers made thousands on each sale, billions as an industry.
Then the banks made billions when they originated the loans and then sold them to Wall Street Brokers. The asking price was usually about 102.5% of the loan amount. That means that a $200,000 loan was sold for about $205,000- usually within a few weeks of being written.
Wall street then sold them as mortgage backed securities to various funds around the world. These REITs made billions.
Then investors like myself, with their retirement money tied up in mutual funds, 401K funds, and retirement accounts that were professionally managed and heavily invested in these REITs see the value of their investments nosedive. As a result, my employer is going to cut retirement in half in the near future, meaning that I will soon have to make a decision to retire and look for another job, or face the prospect of having a much reduced retirement package in my later years. (The current math shows that if I retire now, I will make the same in retirement as if I stay another 10 years,)
The big investors got bailed out with tax money from my future, and the future of my children and grandchildren. Where is my bailout? To make it worse, the very banks and institutions that caused all of this are being paid by the government to fix the very problem that they created.
Then when it comes time to foreclose, the banks have lost the paperwork, so they simply forge and create new paperwork, and take your home.
The double whammy here is that my 401K is worth about 40% of what it was in 2007, and the triple whammy is that my home is worth about 40% of what I owe on it.
Doing the math, it is impossible for me to retire EVER under those circumstances. I will have to work until the day I die. There is only one way out-
Continued yet again
Let’s take a break from bitching about the economy and have a little fun:
I called my friend Andy Sable, a gastroenterologist, to make an appointment for a colonoscopy. A few days later, in his office, Andy showed me a color diagram of the colon, a lengthy organ that appears to go all over the place, at one point passing briefly through Minneapolis. Then Andy explained the colonoscopy procedure to me in a thorough, reassuring and patient manner.
I left Andy’s office with some written instructions, and a prescription for a product called ”MoviPrep,” which comes in a box large enough to hold a microwave oven. I will discuss MoviPrep in detail later; for now suffice it to say that we must never allow it to fall into the hands of America’s enemies.
I spent the next several days productively sitting around being nervous. Then, on the day before my colonoscopy, I began my preparation. In accordance with my instructions, I didn’t eat any solid food that day; all I had was chicken broth, which is basically water, only with less flavor. Then, in the evening, I took the MoviPrep. You mix two packets of powder together in a one-liter plastic jug, then you fill it with lukewarm water. (For those unfamiliar with the metric system, a liter is about 32 gallons.) Then you have to drink the whole jug. This takes about an hour, because MoviPrep tastes — and here I am being kind — like a mixture of goat spit and urinal cleanser, with just a hint of lemon.
The instructions for MoviPrep, clearly written by somebody with a great sense of humor, state that after you drink it, ”a loose watery bowel movement may result.” This is kind of like saying that after you jump off your roof, you may experience contact with the ground.
MoviPrep is a nuclear laxative. I don’t want to be too graphic, here, but: Have you ever seen a space shuttle launch? This is pretty much the MoviPrep experience, with you as the shuttle. There are times when you wish the commode had a seat belt. You spend several hours pretty much confined to the bathroom, spurting violently. You eliminate everything. And then, when you figure you must be totally empty, you have to drink another liter of MoviPrep, at which point, as far as I can tell, your bowels travel into the future and start eliminating food that you have not even eaten yet.
After an action-packed evening, I finally got to sleep. The next morning my wife drove me to the clinic. I was very nervous. Not only was I worried about the procedure, but I had been experiencing occasional return bouts of MoviPrep spurtage. I was thinking, ”What if I spurt on Andy?” How do you apologize to a friend for something like that? Flowers would not be enough.
At the clinic I had to sign many forms acknowledging that I understood and totally agreed with whatever the hell the forms said. Then they led me to a room full of other colonoscopy people, where I went inside a little curtained space and took off my clothes and put on one of those hospital garments designed by sadist perverts, the kind that, when you put it on, makes you feel even more naked than when you are actually naked.
Then a nurse named Eddie put a little needle in a vein in my left hand. Ordinarily I would have fainted, but Eddie was very good, and I was already lying down. Eddie also told me that some people put vodka in their MoviPrep. At first I was ticked off that I hadn’t thought of this, but then I pondered what would happen if you got yourself too tipsy to make it to the bathroom, so you were staggering around in full Fire Hose Mode. You would have no choice but to burn your house.
When everything was ready, Eddie wheeled me into the procedure room, where Andy was waiting with a nurse and an anesthesiologist. I did not see the 17,000-foot tube, but I knew Andy had it hidden around there somewhere. I was seriously nervous at this point. Andy had me roll over on my left side, and the anesthesiologist began hooking something up to the needle in my hand. There was music playing in the room, and I realized that the song was Dancing Queen by Abba. I remarked to Andy that, of all the songs that could be playing during this particular procedure, Dancing Queen has to be the least appropriate.