SIGTARP Neil Barofsky: "Housing Prices Must Be Allowed To Fall, Extend & Pretend Must Stop" (Awesome Clip)

Video:  Neil Barofsky with Neil Cavuto on FBN -- Aired yesterday

Excellent short interview focused on housing, the abysmal failure of HAMP (a TARP program so it falls under Barofsky's jurisdiction), and the government's nightmare policy of extend and pretend.  Barofsky is surprisingly candid considering his place at Treasury.  He adds that he expects to remain as SIGTARP for the next decade, and offers interesting comment on the growing foreclosure fraud crisis.

Runs 4 minutes.

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If you want more truth on the housing bubble, there is only 1 website:

• Housing Crash Chronicles -- Patrick.net

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Here's a little taste of what extend and pretend means in practical terms:

• It Pays BIG To Stop Paying Your Mortgage -- You Aren't going To Believe This Statistic

• Strategic Default & Living For Free: Josh Bartlett Hasn't Made A Mortgage Payment In 32 Months And He Hasn't Been Kicked Out Yet (PBS VIDEO)

Further Reading:

• Geithner Makes Shocking HAMP Admission: Federal Loan Modification Program Just a Ploy to Enrich Big Banks

• ProPublica On HAMP: The Best Homeowner Tips for Loan Modification Success

• Elizabeth Warren Grills Geithner, Criticizes Treasury's Foreclosure Program (PBS News Hour Interview)

• Does Fannie Mae Or Freddie Mac Now Own YOUR Mortgage? Find Out Right Here

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Comments

[DailyBail]

(Reuters) - Billionaire investor George Soros blamed Germany for leading the implementation of austerity measures that will throw the euro zone into a "deflation spiral."

Additional fiscal stimulus --and not fiscal discipline-- is the way out of the crisis for both Europe and the United States, Soros said in a speech at Columbia University on Tuesday.

"Deficit reduction by a creditor country such as Germany is in direct contradiction of the lessons learnt from the Great Depression of the 1930s. It is liable to push Europe into a period of prolonged stagnation or worse," Soros said.

http://www.reuters.com/article/idUSTRE69447S20101005?loomia_ow=t0:s0:a49:g43:r2:c0.103730:b38033262:z0

[DailyBail]

Private bankers advise: "just say no to gold"

http://www.reuters.com/article/idUSTRE6943X820101005?loomia_ow=t0:s0:a49:g43:r1:c0.194316:b38033262:z0

[DailyBail]

Times Sq. bomber sentenced, warns of more attacks

http://news.yahoo.com/s/ap/us_times_square_car_bomb

Says it's just the beginning...

[DailyBail]

Maher defended the apparent success of the Troubled Asset Relief Program and noted that the past month marked Wall Street's best September since 1939, but Arianna said those numbers missed the point of the public's widespread frustration.

"The reason they are legitimately angry is because there's been a decoupling between the Wall Street economy and the real economy. It doesn't matter how well the stock market does or how little the TARP costs. The problem is that there's no connection between the two economies."

http://www.huffingtonpost.com/huff-tv/arianna-maher-elections-2010-tea-party-big-tent_b_747795.html

[DailyBail]

Alaska's Miller mum on whether he'd endorse Palin for president in 2012

http://thehill.com/blogs/ballot-box/senate-races/119611-alaskas-miller-mum-on-whether-hed-endorse-palin-for-president

[DailyBail]

Leaked Emails: Sarah Palin Doesn't Give Out Endorsements for Nothing

http://gawker.com/5656514/leaked-emails-sarah-palin-doesnt-give-out-endorsements-for-nothing?skyline=true&s=i

ouch for sarah...dirty laundry exposed...

[Z]

I think they call it politics.

DB...Did you do this story?

Massa Details Naked Shower Fight With 'Son of the Devil's Spawn'

http://www.foxnews.com/politics/2010/03/08/massa-accuses-democrats-pushing-pass-health-care/

[DailyBail]

nope...i know all about it...but didn't report on it...it's still probably buried in draft form on the site somewhere...

[Dr. Pitchfork]

Z, Rahm Emmanuel is obviously a prick. And it's pretty clear that Massa does indeed wear panties. (He poked him in the chest and he did nothing?? Someone did that to my grandfather once. They didn't do it again.) But nobody gives a crap about these two losers. People... ahem... do care about Sarah Palin, however.

[Z]

What in the emails did you find so interesting?

[Dr. Pitchfork]

Dr. P doesn't find Sarah P interesting. Lot's of people like yourself do. And so do all my blue state friends -- they know all about Todd and Trigger and Snatch (or whatever their names are). You like her. They hate her. Rick Sanchez would probably describe them as "bigots."

[DailyBail]

What in the emails did you find so interesting?

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that it proves once and for all that she plans to run for president in 2012...

i have been hoping she would be satisfied with her new role as pundit and wouldn't run...

[Z]

You and Matt Damon.

[Z]

I like how she gets under your skin Dr. P. I really like how she gets Matt Damon all hot and bothered.

[Dr. Pitchfork]

Z,
??? That's just it, she doesn't get under my skin. It's the left that has an irrational hatred of her and all they imagine her to represent. Doesn't bother me if she loves America, gives birth, worships Jesus and shoots baby seals. Really. I just don't want her in the WH. Aren't YOU tired of having morons occupying the WH? Wars, bailouts and civil liberties are the issues I care about. And she's bad on all of them. Just like Bush and Obama.

[Z]

I didn't vote for Obama.

[Dr. Pitchfork]

Alligator tastes like chicken. What?

[Z]

You are a far-left Social Libertarian like DB, I get it.

[DailyBail]

Really. I just don't want her in the WH. Aren't YOU tired of having morons occupying the WH? Wars, bailouts and civil liberties are the issues I care about. And she's bad on all of them. Just like Bush and Obama.

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and it's not just the irrational left...it includes me in the irrational fiscal-right, social-left, anti-stimulus, anti-war, anti military-industrial, anti-deficit camp...:)

[SBrown]

There is even a greater issue than people loosing their homes through foreclosure... And that greater issue is fraud.

Thousands of Americans are prudently and regularly paying-down their mortgages, but are unaware their Lender/bank has "lost" their loan. Yes, Lenders, Servicers, and government institutions - such as Fannie and Freddie - know your mortgage no longer exists yet continue to "accept" your monthly mortgage payment. If your mortgage is with BofA, Chase, GMAC, or any of the so-called Lenders who are currently under Federal review, you may wish to ask your Lender/Servicer (there is a difference...) to provide you with irrefutable proof of Note/Trust Deed ownership. You'll be amazed at what they won't tell you...

If you are thinking the actions (lost mortgages) of these lending institutions are benign, please think again. Lets say you have the wherewithal to pay off your mortgage. You obtain a pay off number and write the check. But if your mortgage doesn't exist, who gets that money.., where does it go? Will you ever get a mortgage re-conveyance? And if you do get a re-conveyance will it be worth the paper it's written on?

[DailyBail]

sbrown...good questions...have wondered about these issues for awhile...have been discussed to a certain degree in a few articles at NC...i looked but didn't find much else...do you have any links on these subjects...