NY, FirstAM & WaMu article

[Riick]

"How much longer till we have two classes of people? Rich and Poor and become a third world nation?"

Stagflation is going to be the word you'll be hearing.
If things go the way I think they might, much of the Middle class will be more or less wiped-out in only a few years.
Real wages (adjusted for real inflation) have been headed downward for well over 10-15 years.
A point or two a year -- after awhile it does add up.

 

[Non Sequitur]

The saddest part abouty the above post is!!! I bet they have takers!!

I agree Karl. Anyone who accepts those fee's are idiots. I wouldn't drive by my own home for $50. Some may not agree but this is why I think a basic econimics/business course should be a licensing requirement.

 

[Scott Kibler]

Some may not agree but this is why I think a basic econimics/business course should be a licensing requirement.

Boy o boy do I agree with that! The lack of basic economic common sense exhibited just in this forum by people employed in a field closely associated with economics just drives me insane.:Eyecrazy:

 

[DTB]

.

How much longer tell we have two classes of people? Rich and Poor and become a third world nation?

Think I posted on this years ago, teach your kids to be haves and not have nots. It is going that way.

 

[Non Sequitur]

Dang it Scott, you quoted my spelling error. Lets add a basic English course while we're at it.

 

[murray stroupe]

Re; Why wasn't WaMu sued appraiser asked[real reason]?

It said WaMu was out of his jurisdiction.

========================
Vegan;
Understand jurisdiction, but what in the name of common sense, does that have to do with him not suing Wa Mu?????

Never , in a lifetime have i heard an AG, or DA use that one;
in a context like that. Have heard the old business saying;
there is the reason that sounds good ,
& there is the real reason.

 

[Carnivore]

WAMU back in the News.SEC

WAMU is back in the News.

SEC...http://seattlepi.nwsource.com/business/344429_wamu21.html?source=mypi

All of Pam's evidence will be heading to Wall Street!!! woo hooo

The sharks are going to start eating each other.

 

[hastalavista]

WAMU is back in the News.

SEC...http://seattlepi.nwsource.com/business/344429_wamu21.html?source=mypi

All of Pam's evidence will be heading to Wall Street!!! woo hooo

The sharks are going to start eating each other.

They say there has been no "systematic effort" to inflate appraisals.
That's a very interesting choice of words (made, no doubt, on purpose).
I'd like to know how one defines "systematic effort" in regards to an organizational process?
Does that mean that there isn't an official organizational policy to inflate appraisals? That's probably true.
What about a non-systematic effort, however? Or a de facto effort? Or how many rogue elements in an organization does it take before the non-systematic effort evolves into a system-wide problem?

 

[Fred]

All of Pam's evidence will be heading to Wall Street!!! woo hooo

Don't cheer yet, they may throw out the appraisers with the bath water.

I'd like to know how one defines "systematic effort"

I tend to think it means that there is a plausible line of defense that can create some low-ranking sacraficial lambs, while absolving parties further up the food chain who have the power to hire and fire lawyers from culpability.

 

[Ray Miller]

Has any stop to ask if maybe some of these AMCs did not go to these banks like WAMU and say: hey we can get you better values, faster turn times for less expense for you appraisal business. thus not only getting the AMC the appraisal business, but more information/data to mine, and a mailing list that they could then send out marketing information to new clients from other banks to increase there business. :new_multi: