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Bad behavior has been rewarded.

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moh malekpour

Thread Starter
Elite Member
Joined
May 25, 2002
Professional Status
Certified Residential Appraiser
State
California
There were some originators, mortgage brokers, real estate brokers and skippy appraisers who made tones of money by inflating values and/or making bad loans. Up to now, some of them were worried about a possibility of some law suites by some one who may look at those files and come after them. They can relax now and enjoy their wealth from their crimes knowing that they have been escaped from punishment and rewarded for their bad behaviors. They are going to get ready for the next stage
 
Joined
May 2, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
Good observation Moh. The just announced bail out plan rewards the incompetent CEO's at the expense of the taxpayer. In the United States, crime does pay, but only if you steal or scam really big amounts of money.
 

Michael Tipton

Senior Member
Joined
Sep 25, 2005
Professional Status
Certified Residential Appraiser
State
Florida
Good observation Moh. The just announced bail out plan rewards the incompetent CEO's at the expense of the taxpayer. In the United States, crime does pay, but only if you steal or scam really big amounts of money.

But one must also donate to both political parties. :nono::nono::nono:
 

MARK JOLLIFF

Member
Joined
Oct 23, 2003
Professional Status
Licensed Appraiser
State
California
I should have appraised my own house for 1 million and paid a skippy to sign it. Then walk away and buy a house down the street for cash. Why not? Ethics put me out of this business and lack of ethics made others fat. And don't say at least I can sleep at night cuz I have had the most vicious case of insomnia for a week.
 

Eli Weiss

Senior Member
Joined
Nov 28, 2005
Professional Status
Certified Residential Appraiser
State
New York
And it does not end here, how about those who max out their properties with fraud appraisals, and now they are sending their brothers to short sale the property....
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
You can take any amount of risk if you reside on Wall Street, hollar "Uncle" and Uncle Sam will bail you out. That's the message I got. The rest of them can go eat a bug.
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I should have appraised my own house for 1 million and paid a skippy to sign it. Then walk away and buy a house down the street for cash. Why not? Ethics put me out of this business and lack of ethics made others fat. And don't say at least I can sleep at night cuz I have had the most vicious case of insomnia for a week.

Trust me. You're not alone.
 

Claude From NY

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
New York
nice job

The gentleman who crumbled Lehman to dust, the CEO has received a reported $354 Million in the past five years for his services.

"It is the end of the Lehman era. What an American civil war, two world wars and the Great Depression could not do has now been achieved by something called the subprime credit crisis. It was ably assisted, or perhaps prompted, by a widespread attack of corporate amnesia regarding the dangers of treating risk without the respect it deserves and the failings of boards that slumbered while CEOs saw only the upside of deals and the compensation rewards they would bring and never the other part of the intractable law of gravity."

http://finlayongovernance.com/?p=513
 

Greg Bell

Senior Member
Joined
Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
“The bankers met twice on the 29th (October 29, 1929) - at noon and again in the evening. There was no suggestion that they were philosophical. This was hardly remarkable because, during the day, an appaling rumor has swept the Exchange. It was that the bankers’ pool, so far from stabilizing the market, was actually selling stocks! The prestige of the bankers had in truth been falling even more rapidly than the market. After the evening session, Mr. Lamont met the press with the disenchanting task of denying that they had been liquidating securities - or participating in a bear raid. After explaining again, somewhat redundantly in view of the day’s events, that it was not the purpose of the bankers to maintain a particular level of prices, he concluded: “The group has continued and will continue in a co-operative way to support the market and has not been a seller of stocks.” In fact, as later intelligence revealed, Albert H. Wiggin of the Chase was personally short at the time to the tune of some millions. His co-operative support, which if successful would have cost him heavily, must have had an interesting element of ambivalence.”

There are now reports that certain hedge funds, investment banks, and institutional investors will be brought to testify regarding their trades. Oh what a tangled web we weave
DR HOUSING BUBBLE..
 

Greg Bell

Senior Member
Joined
Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
“In March 1930, following a flood of optimistic forecasts by his subordinates, Mr. Hoover said that the worst effect of the crash upon unemployment would be ended in sixty days. In May Mr. Hoover said he was convinced “we have now passed the worst and with continued unity of effort shall rapidly recover.” Toward the end of the month he said that business would be normal by fall.
 
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