DGJ sent me this link.
http://cawholesaledeals.com/blog/793/the-indymac-fdic-one-west-bank-short-sale-scandal/
I would say that like the twin fuel usage subsidies for the paper companies that were poorly constructed, this profiteering of not only the government treasury but the borrower’s equity is shameful. Congress should have a committee, since it “controls” the purse strings, with the power to suspend contracts such as these before they evolve.
Erring on the side of honesty, lets presume this is a legislative error, just fix it, as soon as possible.
For the buyers, they are no doubt in the black legally, but I would suggest they be targeted by the IRS. The IRS who I am sure because of Soros connections will probably be allowed to hide this from income, since its all related to losses.
Shame on the government for writing bad legislation.
No comments:
Post a Comment
Show me the love. Serious, even disagreeable comments are not moderated.