Posted by 101livescan on 8/14/09 8:46am
Msg #299961

FEDS freeze Colonial Banks Assets of $1B

At one point they boasted $26B in assets, they received bailout money, where the heck did $25B in assets/deposits get off to. Someone has a nice stash somewhere! Remember Charles Keating in the 80s? Did a little time at the country club of CA prisons, SLO Mens' Colony, got out in three years....where is Chuck now? I wonder if that is where Angelo and his crowd will end up.

Clearly the consequences are not threatening enough to deter these practices by our bank financial gurus at the top.

http://www.ocala.com/article/20090814/ARTICLES/908141009/1001/NEWS01&tc=email_newsletter

The loss of all these jobs will have a trickle down effect on Ocala businesses, landlords, and further loss of real estate values across the board. The carnage goes beyond the missing $25M, entire communities, families, fellowship. Honestly, why is our government letting this behavior go properly punished.

Reply by MW/VA on 8/14/09 2:40pm
Msg #300044

Trickle down effect is more far-reaching than Ocala. My phone have stopped ringing these last 2 weeks. If we look around us, at almost every level, I think we have entered into anarchy. I'd like to think that Obama has tried to put the brakes on, but it all seems to be too little & perhaps too late. Sorry, maybe this should be in "Just Politics".

Reply by 101livescan on 8/14/09 3:44pm
Msg #300049

Don't give up hope. August is vacation month. I'm doing a trickle of loans, enough to keep my head above water, but I'm also still doing loans that people have been in process for more than 4 months! at great rates! I think we'll see more action going forward....at least that is my wish for all of us!