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Title: Freddie Mac: "Potential Large Wave of Foreclosures"
Source: [None]
URL Source: [None]
Published: Feb 24, 2010
Author: CalculatedRisk
Post Date: 2010-02-24 13:22:51 by Nebuchadnezzar
Keywords: None
Views: 19056
Comments: 61

Freddie Mac: "Potential Large Wave of Foreclosures"

by CalculatedRisk on 2/24/2010 11:55:00 AM

"We start 2010 with some early signs of stabilization in the housing market, with house prices and home sales likely nearing the bottom sometime in 2010. We expect that low mortgage rates, relatively high affordability and the homebuyer tax credit will help continue to fuel the recovery. Still, the housing recovery remains fragile, with significant downside risk posed by high unemployment and a potential large wave of foreclosures." Freddie Mac Chief Executive Officer Charles E. Haldeman, Jr.

The quote is from the Freddie Mac Q4 earnings release:

Freddie Mac Releases Fourth Quarter and Full-Year 2009 Financial Results Fourth quarter 2009 net loss was $6.5 billion. After the dividend payment of $1.3 billion to the U.S. Department of the Treasury (Treasury) on the senior preferred stock, net loss attributable to common stockholders was $7.8 billion ... for the fourth quarter of 2009. ... Full-year 2009 net loss was $21.6 billion. After dividend payments of $4.1 billion during the year to Treasury on the senior preferred stock, net loss attributable to common stockholders was $25.7 billion ... for the full-year 2009.

Another $7.8 billion in losses ...

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Begin Trace Mode for Comment # 16.

#1. To: Nebuchadnezzar (#0)

And these clowns still want to pretend this is Bush's fault?

(eyes rolling)

Badeye  posted on  2010-02-24   13:42:24 ET  Reply   Untrace   Trace   Private Reply  


#2. To: Badeye (#1) (Edited)

And these clowns still want to pretend this is Bush's fault?

No...we blame people like you who allowed the theft of one, possibly two, elections, that put that moron in office...

war  posted on  2010-02-24   13:44:35 ET  Reply   Untrace   Trace   Private Reply  


#3. To: war (#2)

No...we blame people like you who allowed the theft of one, possibly two, elections, that put that moron in office...

Dude, you guys lost fair and square in FL.

Get over it.

Nebuchadnezzar  posted on  2010-02-24   14:01:46 ET  Reply   Untrace   Trace   Private Reply  


#5. To: Nebuchadnezzar (#3)

When you are insane (he is) facts just don't matter. He thinks Ohio was 'stolen' in 04 btw....(laughing)

Badeye  posted on  2010-02-24   14:30:14 ET  Reply   Untrace   Trace   Private Reply  


#7. To: Badeye (#5)

Blackwell Locks Out Recount Volunteers

Subject: Blackwell Locks Down Ohio Voting Records

Ohio Election Investigation Thwarted by Surprise Blackwell Order

Dayton, Ohio Friday December 10, 2004

On Friday December 10 two certified volunteers for the Ohio Recount team assigned to Greene County were in process recording voting information from minority precincts in Greene County, and were stopped mid-count by a surprise order from Secretary of State Blackwell’s office. The Director Board of Elections stated that “all voter records for the state of Ohio were “locked- down,” and now they are not considered public records.”

The volunteers were working with voter printouts received directly from Carole Garman, Director, Greene County Board of Elections. Joan Quinn and Eve Roberson, retired attorney and election official respectively, were hand- copying voter discrepancies from precinct voting books on behalf of the presidential candidates Mr. Cobb (Green) and Mr. Badnarik Libertarian) who had requested the recount.

One of the goals of the recount was to determine how many minority voters were unable to vote or denied voting at the polls. Upon requesting copies of precinct records from predominantly minority precincts, Ms. Garman contacted Secretary of State Blackwell’s office and spoke to Pat Wolfe, Election Administrator. Ms. Wolfe told Ms. Garman to assert that all voter records for the State of Ohio were “locked down” and that they are “not considered public records.”

Quinn and Roberson asked specifically for the legal authority authorizing Mr. Blackwell to “lock down” public records. Garman stated that it was the Secretary of State’s decision. Ohio statute requires the Directors of Boards of Election to comply with public requests for inspection and copying of public election records. As the volunteer team continued recording information from the precinct records in question, Garman entered the room and stated she was withdrawing permission to inspect or copy any voting records at the Board of Elections. Garman then physically removed the precinct book from Ms. Roberson’s hands. They later requested the records again from Garman’s office, which was again denied.

Ohio Revised Code Title XXXV Elections, Sec. 3503.26 that requires all election records to be made available for public inspection and copying. ORC Sec. 3599.161 makes it a crime for any employee of the Board of Elections to knowingly prevent or prohibit any person from inspecting the public records filed in the office of the Board of Elections. Finally, ORC Sec. 3599.42 clearly states: “A violation of any provision of Title XXXV (35) of the Revised Code constitutes a prima facie case of election fraud within the purview of such Title.”

war  posted on  2010-02-24   15:34:28 ET  Reply   Untrace   Trace   Private Reply  


#16. To: war (#7)

One of the goals of the recount was to determine how many minority voters gangsta niggas were unable to vote or denied voting to fraudulently repeatedly and illegally vote at the polls.

Thought you might appreciate me fixing that for you.

You can thank me later.

dont eat that  posted on  2010-02-24   18:30:11 ET  Reply   Untrace   Trace   Private Reply  


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