{"id":22273,"date":"2010-10-09T21:05:35","date_gmt":"2010-10-09T21:05:35","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/daily_bail_is_foreclosure_fraud_the_new_black_swan_for_banks\/"},"modified":"2010-10-09T21:05:35","modified_gmt":"2010-10-09T21:05:35","slug":"daily_bail_is_foreclosure_fraud_the_new_black_swan_for_banks","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=22273","title":{"rendered":"(Daily Bail) Is Foreclosure Fraud The New Black Swan For Banks?"},"content":{"rendered":"<p>(<i>This post begins with <a href=\"http:\/\/www.bloomberg.com\/video\/63524428\">a video interview (length just under 4 1\/2 minutes) with Ex-Ginnie Mae CEO Joseph Murin<\/a> on housing and illegal foreclosures which is well worth the time.)<\/i><\/p>\n<p>[The interview continues an] Excellent [level of] detail.  Murin says he expects foreclosure delays of between 6-18 months due to the moratorium, which is much longer than most current estimates of 30-90 days.<\/p>\n<p>Here&#8217;s the nightmare scenario for banks &#8212; more homeowners start to challenge the ownership of their mortgage, and choose to stop paying in the interim, destroying bank profits and balance sheets while they wait for resolution from Congress or the courts.  Could get ugly.  Quickly.<\/p>\n<p>Both Janet Tavakoli and Chris Whalen said Thursday it could necessitate a 2nd-round of bank bailouts.  The outcry from taxpayers would be deafening&#8230;.<\/p>\n<p><i><a href=\"http:\/\/dailybail.com\/home\/is-foreclosure-fraud-the-new-black-swan-for-banks.html\">Read it all and please follow the links to the Tavakoli and Whalen comments<\/a>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(This post begins with a video interview (length just under 4 1\/2 minutes) with Ex-Ginnie Mae CEO Joseph Murin on housing and illegal foreclosures which is well worth the time.) [The interview continues an] Excellent [level of] detail. Murin says<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=22273\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,40,582,589,149,600,114,585,596],"tags":[],"class_list":["post-22273","post","type-post","status-publish","format-standard","hentry","category-culture-watch","category-economics-politics","category-consumerconsumer-spending","category-corporationscorporate-life","category-economy","category-housingreal-estate-market","category-law-legal-issues","category-the-banking-systemsector","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/22273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22273"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/22273\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}