TILA Exemption, Rate Cuts and Stagflation
No Truth in Lending... If your getting a mortgage workout you better read the fine print carefully.
This "crisis" based piece of pork gives safe harbor to all lenders from the Truth In Lending Act and all other laws.
In other words, you will have no recourse for lender errors, omissions or misrepresentations.
HR 4178: Emergency Mortgage Loan Modification Act of 2007 (Introduced in House)
BOE & ECB Rate Announcement The European Central Bank held rates steady at 4%. Jean Claude "Two Faced Tricky" Trichet:
There is "strong short-term upward pressure on inflation," The ECB "stands ready to counter upside risks to price stability. We will not tolerate second-round effects" on inflation.
Bank of England cut official interest rates for the first time in two years by 25 bps to 5.5%.
Conditions in financial markets have deteriorated," adding to "downside risks" to consumer prices and the economy.
"Although upside risks to inflation remain, which the committee will continue to monitor carefully...
slowing demand growth should ease the pressures on supply capacity, bringing inflation back to target in the medium term."
The Nattering One muses... Too bad the inflation they speak of isn't organic or due to economic demand, supply or wage growth.
It's due to dollar debauchery (.85 cents to $1.45 per Euro), the resulting energy based supply chain stagflation (crude going from $30 to $100), and price growth,
and of late, the brilliant decision to grow corn for $3 a gallon ethanol instead of using .80 cent per gallon methane gas.
This energy complex scheme has wrought inflation on the last vestige of the non globalized supply chain, locally based independent farm production.
The misallocation of land and crop choice; necessary to grow the corn, along with 17 gallons of water to produce one gallon of ethanol...
have driven the prices of farm feeds and thus food thorough the roof, globally.
Dot com bubble, begets easy money bailout, begets high crude oil prices, begets stagflation, begets hybrid & ethanol misdirect, begets food stagflation, begets??
Don't ya love management by crisis? One crisis begets another, ad infinitum, and thats all these government clowns are good for.
This "crisis" based piece of pork gives safe harbor to all lenders from the Truth In Lending Act and all other laws.
In other words, you will have no recourse for lender errors, omissions or misrepresentations.
HR 4178: Emergency Mortgage Loan Modification Act of 2007 (Introduced in House)
A creditor, assignee, servicer, securitizer, or other holder of a residential mortgage loan shall not be liable to any person under any law or regulation of the United States or any law or regulation of any State or political subdivision of any State, or under any contract, for entering into a qualified loan modification or workout plan on any residential mortgage loan, as provided by this subsection, that was consummated on or after January 1, 2004.
BOE & ECB Rate Announcement The European Central Bank held rates steady at 4%. Jean Claude "Two Faced Tricky" Trichet:
There is "strong short-term upward pressure on inflation," The ECB "stands ready to counter upside risks to price stability. We will not tolerate second-round effects" on inflation.
Bank of England cut official interest rates for the first time in two years by 25 bps to 5.5%.
Conditions in financial markets have deteriorated," adding to "downside risks" to consumer prices and the economy.
"Although upside risks to inflation remain, which the committee will continue to monitor carefully...
slowing demand growth should ease the pressures on supply capacity, bringing inflation back to target in the medium term."
The Nattering One muses... Too bad the inflation they speak of isn't organic or due to economic demand, supply or wage growth.
It's due to dollar debauchery (.85 cents to $1.45 per Euro), the resulting energy based supply chain stagflation (crude going from $30 to $100), and price growth,
and of late, the brilliant decision to grow corn for $3 a gallon ethanol instead of using .80 cent per gallon methane gas.
This energy complex scheme has wrought inflation on the last vestige of the non globalized supply chain, locally based independent farm production.
The misallocation of land and crop choice; necessary to grow the corn, along with 17 gallons of water to produce one gallon of ethanol...
have driven the prices of farm feeds and thus food thorough the roof, globally.
Dot com bubble, begets easy money bailout, begets high crude oil prices, begets stagflation, begets hybrid & ethanol misdirect, begets food stagflation, begets??
Don't ya love management by crisis? One crisis begets another, ad infinitum, and thats all these government clowns are good for.
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