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Archive for Saturday, September 27, 2008

Well, rats

September 27, 2008

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To the editor:

Why would I want to buy $700 billion in bad investments? Isn't that why these companies went under in the first place? Now you want me to take their mistakes off their hands? Why would I do that? Can't I take my money elsewhere and buy, say, good investments? No? OK, how about you use the money you're taking from me to buy, say, good investments? No? Rats.

OK, well, since I don't seem to have much of a choice here I'd like to know a couple other things about the products you're forcing me to buy. 1) Just how much, how many shares that is, am I actually going to get out of the deal? 2) When do I ge: what's that? I'm not getting any shares out of the deal? What? I'm buying the darn things and I don't get any of the shares? Oh, so they'll keep the shares to themselves. I see. Rats.

OK, then that may or may not affect question three, which is: 3) When do I get my first dividend check, and are statements mailed quarterly or ... what's that? I don't get any dividends? Rats.

So let me get this straight. I HAVE to buy billions of dollars in bad investments, don't get to own any of the company I'm buying, and don't get any return if they use my money to turn things around and make a profit?

Can I just buy some Treasury bonds instead? No? Could I convince you I'm too big to fail? No?

Rats.

Fred R. Whitehead III,
Lawrence

Comments

ASBESTOS 6 years, 3 months ago

If you average $100,000 (California, Colorado, and Arizona all sanctuary states and having mortgages higher than that) for a mortgage and there are 20 million illegal aliens and there is 4 per household, there would be 5 million households if they all go low down, no down, or interest only no cocumentation loanswould be:5,000,000 times 100,000 equals500,000,000,000$500 trillion dollars of the suppposed $700 billion.Now I know not all these loans are to illegal aliens, and there are a lot of irresponsible citizens that had loans and lots of low interest loans,but these illegal aliens should have never been in the country and should have never received a "low interest", nothing down or interest only loan.

ASBESTOS 6 years, 3 months ago

You called me a racist xenophobe.BTW, how did you know "I" had your post removed?Inside worker creep at the LJWORLD?"One without compassion for others in the world seeks mine?"No, you just show just how big a creep you are and just how "selective" your compassion is.My compassion is for American Citizens first and always.You hate your fellow American Citizens.

dandelion 6 years, 3 months ago

Excellent letter, Fred. It's a good way to say that the taxpayers are #$@&*& again.

ASBESTOS 6 years, 3 months ago

What does the highway patro have to do with the topic of this thread?

ASBESTOS 6 years, 3 months ago

ACORN just got an earmark in the "Bailout bill" and they are some of the morons that gave out low intereest and no interest loans.

ASBESTOS 6 years, 3 months ago

Jonas wrote:"Okay, but in this situation is the fixable problem that they are here, or that somehow banks are so lax in their due-diligence that they are providing them loans? It seems, for the former that, even if they were gone, there would be no lack of unprepared people to have handed that money to."What? Please rephrase that in English. The point is that there are about 17 diufferent loan programs from the government to First Time home buyers (which ilelgal aliens would qualify for since they never owned a home in the U.S.) Most of the laws are at increaseing the "quotas" of "undocumented" loan applicants to no down or low down pauyments mortgages or actually interest only loans. That is a mortgage without documentation. OR there are programs to have these people without SSNs (Predominately Illegal aliens or VISA overstays) to get loans with an FEIN only. These porgrams was rife with corruption and fraud, as loans originators were told to sign up as many as they could.Yes this is known, it is true, whether you want to believe it or not is not my problem.But yours (and a lot of other illegal alien supporters) analysis is wrong. I went with that number becaue the Mortgatge number of $100,000 is actually too low, as most of those mortgages are well over $250,000 in these porgrams.And wait, do not call BS on me, go to the Freddie ands Fannie sites and look at the average loan amounts to these FEIN and "No Documents" programs. They are a lot more than $100,00So quit calling me a "racist" and look at the numbers. That is what reasoning people should do. We are getting ready to just give a trillion dollars away for this stupidity and kids under 25 will have to pay for this for 40 years, and they will get no medicare and no Social Security, but they will have to pay for all this crap.

jonas_opines 6 years, 3 months ago

"You are a wee bit too sensitive and are not reading posts very well."Well, it certainly couldn't have anything to do with your inability to clearly say what you're trying to say. Thank you for clearing it up.

ASBESTOS 6 years, 3 months ago

"Miguel, Javier, and Jorge sure did a good job of sneaking in and without our knowledge creating a Derivative Mortgage Industry and selling the 62 Trillion Dollars of Credit Swaps."Not what is going on, as there are no "dollar swaps". These sub prime bad loans are being "bundled" into a "security" called a "Mortgage Backed Security", and then sold as an "asset". The problem is that the loans are no good, because the people are defaulting because they never should have been given the loans in the first place.So the "Good thing" to come out of this is no more loans to ilelgal aliens period! Not going to happen anymore, all the FIEN loans are gone, and so are the "no documents' and the "nothing down" and the "interest only" loans are all gone. That will stop.When people understand in Mexico that they cannot move to America, and get an instant loan with a spanish speaking loan officer that is supposed to write 200 loans a week is over, it will stop. The illegals have already left most of the low interest loans and fled.Ther is BTW, no "Dollar swap" these financial instruments are traded like any other asset with value, but they value is "mark to market" which is "face value" and not "true value" of the loan and the expected mortgage interest to be gains over the time of the loan.That has collapsed, becasue it was a false assumption to begin with,Everybody cannot own a home. Not everybody makes enough money to have a mortgage. Not everyone can live in a 3000 sq. ft. palace, with a 3 car garage.It is going to be a great time to buy a house!

jonas_opines 6 years, 3 months ago

For instance:"These porgrams was rife with corruption and fraud, as loans originators were told to sign up as many as they could."spelling, grammar (object verb singular/plural agreement)"But yours (and a lot of other illegal alien supporters) analysis is wrong."The parenthetical reference does not change the possession for the noun analysis, so you essentially wrote "yours analysis.""Kansas City case of 102 nirtgages gotten through governmetn""the highway patro" There are, of course, more.

ASBESTOS 6 years, 3 months ago

Your hypersensitivity has absolutlely nothing to do with my typing or finger dexterity. That is a choice you make to be offended by the least little thing.You constantly make these posts about "you" and the wrongs done to you, and you do so by personally attacking people with totally irrelevant diatribes.My typing has nothing to do with your "self-esteen", that is why they call it self esteem. (Thanks Katt)

jonas_opines 6 years, 3 months ago

"Fot the fifth time in this post go to the Freddie and Fannie bailout case and check the mortgages given to "no documentation" meaning no SSN and the FEIN number loans and those numbers are that large. If you don't want to look them up, fine, but you are wrong."Wrong about what? You haven't proved to me that you've understood in the slightest what I've been trying to tell you. The loans were given out, as I understand, to stimulate the economy in light of the recession of 2001. If (note: this is a hypothetical scenario, please try and keep up this time) there was not a large population of illegal immigrants that would come forward to claim loans under these ridiculously lax restrictions then they would probably have just had to sweeten the deal slightly and go after good-old, SS# possessing, under-financially-educated, deluded by the american dream blue-collar American folks. This is Not opinion, they had money to give out, pressure to give it out, so it would have been given out, one way or the other. That's the way this stuff works, Asbestos. Supply and demand, and all that. The primary reason, then, that there are so many illegal immigrants wrapped up in this is because A) they're likely to be the most desperate B) they're likely to be the least financially savvy, and C) there are, as you say, a lot of them. So, for the rest, what are you even suggesting? That there is a conspiracy within the housing market to provide illegal immigrants houses to live in for five years, out of charity, or what? Are you suggesting that this whole recessionary type thing is the result of fraud on the part of some Mexicans, as if there was no way we could have seen or known about them cheating us? Just come out and say what you're trying to get across.

ASBESTOS 6 years, 3 months ago

http://www.youtube.com/watch?v=H5tZc8oH--oNo johan I was posting to whomever is "hol_royd" and "jerk_patrol".You are a wee bit too sensitive and are not reading posts very well.as for the rest here is the link to what occured.http://www.youtube.com/watch?v=H5tZc8oH--o

jonas_opines 6 years, 3 months ago

Oh, and. . . "I get Jonas mad at me when I respond to "Jerk_patrol"."First, bunk. Everything that I've responded to, past my first questioning post where you started inventing my argument for me, has been in posts that you are directly quoting my writing. Which means either that you are so incoherent in your writing as to forget to mention that you have started talking to a different person halfway through a post, or you're just lying to distract from the fact that I just called you out on either inventing my argument or getting what I was say confused with someone else. Second, you didn't make me angry. You are not capable of making me angry. You've made me quite frustrated, I'll admit, because of how ridiculously slow you are on the uptake today, which doesn't seem like it's usually the case. Mostly, though, this is me smelling blood. You're on weak, shaky ground, and you don't even seem to realize it.

ASBESTOS 6 years, 3 months ago

I get by your last post that you are a former poster here? You joned Sept. 2nd and have a great understanding of how and what I post?Have you been banned before, because I do not remember anyone named "jerk_patrol" and since your handle and account is "new" and apparently "you" are not "new" to the discourse with your knowledge of me,I must assume that you have been banned at one time.What was your handle before when you were debating with me on the legislative and executive branch in Kansas? HMMMM???You are busted.

ASBESTOS 6 years, 3 months ago

"Not necessarily that there were all of these illegal aliens here, but that the banks were given them loans. I am aware that this was at least partly due to political pressure, but also due to the poor decisions of managers in running their companies. The fact that the loans were given to illegal immigrants is practically meaningless, because if they were not given to them then they would have just been given to someone else, and we would be in the same position, regardless."That is opinion and not factually based.Fot the fifth time in this post go to the Freddie and Fannie bailout case and check the mortgages given to "no documentation" meaning no SSN and the FEIN number loans and those numbers are that large. If you don't want to look them up, fine, but you are wrong. The majpority of these no documents loans and FEIN loans are ilelgal aliens, everybody else has the doucments.Why was there no program for no docuemtns until we had ilelgal aliens living in the country? Citizens had documents, and loans were not given out no down and interest only and with no documents. OPnly when we had colossal levels of undocumented population (meaning illelgal aliens) would we need a home loan program for themYou guys got to come around, the truth is right in front of you.With this "Bailout"There will not be enough money for citizens that have paid into the taxes, for SS benefits, medicare and medicaid. The mortgage programs are gone, because contols have to be put in place. These people cannot get loans anymore.There will not be enough money to run schools and to run hospitals, and documentation is going to be required except for the life threatening inside of ER's.The rest we simply do not have the money for as a country. If say Mexico wants to start picking up the tab for their citizens in the United States I am fine with that, but they won't.The United States is broke, same as it was in 1984, and it is going to be tough on citizens as it is, we cannot worry about every citizen of the world, we have a full plate of our own.The political winds are going to change, but it will not be toward a R or D brand.Those days are so over.

ASBESTOS 6 years, 3 months ago

"Do you not believe that such would be a rather dubious assumption?"NO I believe that number is low because I think there are 40-60 million illegal aliens in the United States. But YES, id did make the assumption that all the 12-20 million got loans. IF you go to larger cities you will see in the banks all the loan officers in Spanish, and I have many friends that have been told to give out the loans. There are 2 major mortgage loan criminal cases in Kansas City getting just such loans."""""""""""""""""""""""""""""""""""""""""""A federal judge today sentenced the ringleader of a high-profile mortgage fraud scheme to 10 years in federal prison, and then added three more years for a probation violation.Raymond Zwego, 60, led a real estate investment company that purchased more than 50 area homes, obtaining more than $19 million in mortgages by using straw buyers and falsified documents.Chief U.S. District Judge Fernando Gaitan also ordered Zwego to pay almost $5.6 million in restitution.In passing sentence, Gaitan noted that Zwego's conduct has had a "long range and devastating impact on our community.""It's clear this society has to be protected from a predator like Mr. Zwego," Gaitan said.Zwego's scheme collapsed in 2006 when he attempted to purchase a home from former Jackson County Executive Katheryn Shields and her husband, lawyer Philip Cardarella.""""""""""""""""""""""""""""""""""""""""""""""""""""""""'

jonas_opines 6 years, 3 months ago

"What? Please rephrase that in English."Aw jeez, Asbestos, if you're going to get snippy about what was, essentially, a single comma-placement error (which did not detract from making what I wrote perfectly understandable) at least have the grace to not fill your next several posts with so many obvious and distracting typos and letter-ommisions.

jonas_opines 6 years, 3 months ago

"Yes this is known, it is true, whether you want to believe it or not is not my problem."When did I debate or question these facts?"But yours (and a lot of other illegal alien supporters) analysis is wrong."What analysis are you talking about? All I have said to this point is that those banks should have taken greater care in approving their loans. Do you disagree with that?"So quit calling me a "racist" and look at the numbers."Kindly refer me to where I called you a racist."We are getting ready to just give a trillion dollars away for this stupidity and kids under 25 will have to pay for this for 40 years, and they will get no medicare and no Social Security, but they will have to pay for all this crap."True, but when did I dispute the stupidity of the bail-out methods?I'll continue, but a friend just came over. Wait patiently. Or apologize.

Newell_Post 6 years, 3 months ago

dandelion:Lots of those loans are already 40-year, zero-principal, or even negative amortization loans, and many of them are under water.If somebody in California has a $750,000 negative-amortization mortgage on a house that is now worth $400,000 (if any buyers could be found), there isn't any way to "stretch out" the payments.

ASBESTOS 6 years, 3 months ago

The bill has gone from "3 pages" to well over 100 now.Howq much more expensive will it be, and will it actually be anything other than a "Christmas tree" for the corrupt congressional morons? Acorn getting an earmakr is insane.

ASBESTOS 6 years, 3 months ago

Yes, but you do get the point, your was correctly spelled, no typos and I still cannot make heads or tales of it.BTW, what the hell does this have to do with the loans and the topic of the thread?

jonas_opines 6 years, 3 months ago

You know, I didn't even pick up on it before, but if he's accusing me of posting under different user names I might actually get a little irritated.

ASBESTOS 6 years, 3 months ago

"And Asbestos, you keep using the term "FIEN loan" Please define."You started giving me heck and you don't even know what I am talking about? That takes a lot of brass! It shows your ignorance on the topic. That is where the bank is allowed to make an illelgal loan using the FIEN instead of a SSN. That is one of the biggest hallmarks of the "undocumented and ilelgal alien" code words. They do not have SSNs valid visas or green card numbers, so they get an FIEN. The banks then loan money on someone that cannot get or does not have a SSN. Coed word for illegal alien.OK and Jerk_patrol, why do you refer to me as a "racist"? Illegal aliens come in every race, but YOU seem to be the racist referring illegal aliens as "javier, Jorge, etc., with your assumption that all illegal aliens are of latin descent?"NOw would that not make YOU the stereotyping liberal racist?""""""""""""""""""""""""""""""""""""""And Asbestos, Credit Default Swap instruments very much are part of the problem by helping to eliminate perceived risks in the buying and holding of mortgage based security derivitives"PURE SPIN!!! "Dollar swaps" are liquid, ie "dollars", "hard currency" sic, not "credit" swaps ie credit for credit.You are just digging your hole deeper.Nice links, it makes my point.The problem here lameo is we do not have "capital" ie dollars, hence the "credit crunch". These assets are "illiquid", meaning they have not been "dollar swapped">Duh!

jonas_opines 6 years, 3 months ago

"It is like we said all along, they came here breaking the laws, would you think they would magically stop breaking the laws when they got here?"When did I suggest this? I have not suggested that we should not find a way to deal with the situation. So far, all I've heard from you, though, is that we flick the "illegal alien removal" switch and they're all gone. It seems like we're supposed to kill them or something, and then magically make our borders impregnable. It all just seem. . . far-fetched to me.

ASBESTOS 6 years, 3 months ago

Federal Employment Identification Number.OK Jerk?

jonas_opines 6 years, 3 months ago

For Christ's sakes are you drunk?! If you are we can come back to this, because you're being so dense as practically hammer nails. The Point, Asbestos, is Not necessarily that there were all of these illegal aliens here, but that the banks were given them loans. I am aware that this was at least partly due to political pressure, but also due to the poor decisions of managers in running their companies. The fact that the loans were given to illegal immigrants is practically meaningless, because if they were not given to them then they would have just been given to someone else, and we would be in the same position, regardless. As for the rest, who the hell are you even talking to? You have totally fabricated a number of things that I supposedly believe, based on apparently hypothetical posts that I have yet to write. I'll have to pull some specific points out, and I'm going to ask you to support your assumptions with actual textual reference from what I have, thus far written myself. Give me a few minutes, and then please respond, take back your comments, or give up.

dandelion 6 years, 3 months ago

Why can't many of these loans be refinanced so that the homeowners can afford the payments. Make a 40 year loan. It's like they are paying rent, but the money keeps coming in and these people have a place to live. Ok, maybe the stockholders and executive aren't pulling in as much money, but, hey, how many houses does one really need? You can rent a suite at a hotel, when you visit a town often, and it would help the hotel business. You can't tell me someone making millions of dollars can't afford a cut in pay. Poor executives. Can't run a company into the poor house, and still earn millions. What a shame. Stop the bailout.

ASBESTOS 6 years, 3 months ago

"No, and they had to have the same quality of collateral that everyone else had to have for those loans."Sorry Jerk, Barney Frank, Charlie Rangle, Geroge Bush, Bill Clinton, Chuckie Schummer, and Hillary Clinton all stongly supported and passed legislation to increase quotas for the "undocumented" first time hombuyers. Well if the illegal immigrants know there is work here and "just want a better life" fine, but they need to pay just like we do. Half of these FIEN loans are forclosed because the illegal aliens just left, and took all the applicances, doors and windows and fixtures. You have no clue about what you are talking about. Just go to Southern Texas, NM or Arizona and those houses need a boatload of work.'""""""""""""""""""""""""""""""""""""""""I really didn't know that Juan, Jose and Edwardo were the ones working for the Banking Lobby as they lobbied Congress in broken English to please, please, please, repeal Glass-Stengal and otherwise deregulate the banking industry"Pure spin, that law had less to do with the crisis and show you know what you talk about, it is the bundled MSBs that are priced "mark to market", and then "Short sold". As for whom lobbied for it MALDEF, La RAcists, MeCHA, and the other anit American Racist organizationa that are hate groups.""""""""""""""""""""""""""""""""""""""""""""I didn't realize that Carlos, Julio, and Alejandro were walking into the Board rooms without visas at Lehman, Merrill and AIG everyday before they trained home to their homes in Westchester County. They did not, Chris Dodd, Chuckie Schumer, Geroge Bush, Barney Frank amoung others did on their behalf and on behalf of the Financial Institutions. Just look at www.opensecrets.org and look at how much money was paid and to whom.whine and blame Republicans all you wnat, it is spin and soundbite, and the reality of the PAC and election money went to Democrats.The rest of your comments are to stupid and idsconnected from the actual issue it is becyond ignorant, and shows you have no understanding of what is going on.If what you say is true, why are the Democrats "leading the charge" to give to these very idiots $700 billion? That is the problem with your argument, your blame placement does not include the idiots damaging this country with this Bailout.

ASBESTOS 6 years, 3 months ago

The point oh slow one, was that the "due dilligence" was taken out by congressional acts."It seems, for the former that, even if they were gone, there would be no lack of unprepared people to have handed that money to."What does that mean? who is gone? IF the ilelgals are "gone" they have taken all the furnishings and fixtures, i.e. they have damaged the home and the values are down. As for "no lack of unprepared people to have handed that money to." what money? The origninal mortgage was already "handed out". What do you mean by this statment?As I said what point are you trying to get to?

ASBESTOS 6 years, 3 months ago

http://www2.ljworld.com/news/2008/sep/28/agents_sentenced_mortgage_fraud/#commentsNow it is in the LJWorld, I guess it is now starting to be "real"? These are the loans, and there is massive fraud in them, AND it involves only illegal aliens.Game set match!

ASBESTOS 6 years, 3 months ago

Jerk, these are people that understand the problem and are discussing it inteligently:http://www2.ljworld.com/news/2008/sep...

ASBESTOS 6 years, 3 months ago

Wasn't talking to you holroyd, unless of course you have two handles which would be a TOS violation of this LJWorld blog. Because I was responding to "Jerk_patrol" and I get Jonas mad at me when I respond to "Jerk_patrol". And it is further curious that "not_holroyd" has not posted here until this thread? Is that not curious, and you make that lying post? Loser!So do you ""not_holroyd" have two handles and accounts here.Make up your mind you digital schitzo.That would be "end of Argument"because I never responded to "not_holroyd"You are busted again.And the Freaks whom work at LJWORLD blogs had better not be doing any funny business with private information and all this crap.This is getting a bit creepy.Hello LJWorld mods? Time to clean some house, again.You are the same guy. You are railing on athletic fields and Coltrane.What a loser. LOL!!You have been outed.

ASBESTOS 6 years, 3 months ago

Wait a go, you show what an idiot you are."You must be one of those James Dobson Christians."NO but what I am is an arthritis sufferer, and I have had my hands mangled few times. It is really a wonder that I can type at all.Bet you feel pretty stupid now.What was that about the "highway patrol emails?

ASBESTOS 6 years, 3 months ago

Whine when you can't win an argument and cry and complain avbout "tansposed letters" all you want.You have been the one calling names on this thread, and I did not. You were the one that listed spanish sounding names. not me.Your opinion ran out of facts, so you go directly to personal attack and name calling.Good on ya mate.

bearded_gnome 6 years, 3 months ago

sounds like the letter writer supports the house republicans who are bravely opposing bush and his treasury secretary! right on!*sorry jp, Asbestos is correct, illegal aliens are hugely disproportionately represented among the failed mortgages. michelle malkin documented this on her blog. you can smear, but you can't refute. and, it is not xenophobic to oppose illegal immigration. stop that silly "racist" name-calling, it doesn't help anybody. the invasion of illegals hurts legal immigrant and low SES blacks the most, so, are you then actually the racist since you prefer open borders that lower employment and incomes for these legal immigrants? hmmmm.

ASBESTOS 6 years, 3 months ago

"Sorry beard, malkin is not a credible information source for me. And Asbestos is xenophobic."C heck out the Fannie and Freddie holdings, and you will see the number of FIEN loans and undocumented or no documented loan applications which only illegals would have a majority of are in the 70% range.You are using anti American sentiment and anti white racism to support you indefensible position.The facts are pretty clear, and it is clear you have nor researched the issue very well,so you need to stop commenting on it until you fully understand the issue and have all the facts.Calling me a xenophobe should have you removed from the listing.

jonas_opines 6 years, 3 months ago

"If you average $100,000 (California, Colorado, and Arizona all sanctuary states and having mortgages higher than that) for a mortgage and there are 20 million illegal aliens and there is 4 per household, there would be 5 million households if they all go low down, no down, or interest only no cocumentation loanswould be:"Am I wrong, or are you assuming that Every Single illegal immigrant household has managed to obtain a loan in this scenario? Do you not believe that such would be a rather dubious assumption?"But these illegal aliens should have never been in the country and should have never received a "low interest", nothing down or interest only loan."Okay, but in this situation is the fixable problem that they are here, or that somehow banks are so lax in their due-diligence that they are providing them loans? It seems, for the former that, even if they were gone, there would be no lack of unprepared people to have handed that money to.

ASBESTOS 6 years, 3 months ago

"Written any emails to the highway patrol lately?"NO I have never written the Highway patrol.

ASBESTOS 6 years, 3 months ago

Yeah Jonas that number is the whole amount, but does not take into account the fraud like the one Kansas City case of 102 nirtgages gotten through governmetn loan programs using stolen SSNs. for a total in one case of $7.7 m,illion.All the cases add up, and that is what we are basiling out.There will be more of these cases as well.BTW, we have to pay for the prosecution of those cases as well, and the incarceration of those that commited the fraud.All around illegal aliens. It is like we said all along, they came here breaking the laws, would you think they would magically stop breaking the laws when they got here? With the murders rapes, frauds, and the rest surrounding the illegal alien community, I say it is time to get it out of the country and penalize them.

ASBESTOS 6 years, 3 months ago

Went through all your posts. I know I am angry, but you must hate Coltrane. Your posts are collectively more angry than mine.BTW, you do not have any posts of you and I discussing Legislative and executive branch politics. In fact NONE of your current "alias" posts have any mention of it until this thread?SO who were you when you made that argument?Or was it even me?How do you know.What is the story mystery loon?

ASBESTOS 6 years, 3 months ago

A Johnson County judge today sentenced two Leawood women to probation for helping illegal immigrants use stolen Social Security numbers to commit $7.7 million in mortgage fraud.Only four of the 102 mortgages taken out by those undocumented workers are in default, which helped spare the women prison time.Doris Toledo, 68, and her daughter, Sylvia Toledo, 43, each entered no contest pleas previously to one count. Prosecutors recommended the sentence each got: 18 months' probation, a $25,000 fine and eight months' suspended prison time.They also must surrender their real estate licenses and perform 30 hours of community service.Another daughter in the scheme, Sonia Toledo, 39, pleaded guilty previously to the same charge of false writing and got the same sentence.That was a big step back from the original 23 charges filed against each defendant for transactions in 2003 and 2004. Prosecutors said then that they earned $128,000 in fraudulent loan fees and $228,000 in real estate commissions.But on Friday, a prosecutor said that amount was speculative.Judge James Franklin Davis asked at the sentencing hearing why prosecutors why they agreed to such a light plea deal.Patrick Carney, assistant district attorney, said one reason was that only four of the 102 mortgages the women were involved in are in default. Federal officials would not pursue the case because of the small amount of losses, he said.He wanted to see the fraudulent real estate work end, Carney said, and make it clear through the fine that the women were not enriched by it.Davis said, "My only concern in all of these cases :is the ultimate losses to the taxpayers are still unknown."

jonas_opines 6 years, 3 months ago

As I said, the only time I would have been insulted in this thread is if you were insinuating that I was deceitful enough to post under various user names, and it very much sounded like you were. Now that you've cleared it up, there's nothing else there, and not another thing suggesting that I was offended at all. What you're mistaking is that it wasn't me taking offense, but rather pointing out that you are missing ridiculously easy points. I think, actually, that you've figured that out yourself, because your last few posts have the desperate air of someone trying to distract from the many incredibly dumb things they wrote when their heads weren't screwed on totally straight.

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