The First American Corporation conspired with WaMu. Together they connived to overstate real estate values. New York Attorney General, Andrew Cuomo, filed suit against the First American Corporation. Cuomo denounced their fraudulent practice towards New Yorkers and the whole sub prime industry. Indeed the Attorney General blamed First American for being at the root of the world financial crisis!
But! Why worry? Be happy! It will soon be business as usual! If we are to believe a post read on the First American Corporation/Yahoo message board!
The First American Corporation can count on the other First American to bail them and all the other American financial criminals out!
A bird named Bush in the hand is most definitely worth two eagles in the bush!
Consider the following statement picked up on the Yahoo – Finance – FAF message board on October 24, 2008
“Re: First American Involved in Fraud 24-Oct-08 04:27 pm
Yes I just read the complaint again. Even after they get to respond they will probably be found to have violated business statutes. So what's the downside for FAF? Disgorgement of profits and fees ($12.5MM if one-fourth of the $50MM in appraisal revenues were affected); pay actual damages (big unknown? how to establish in this dropping housing value environment?); punitive damages ($37.5MM at 3x 12.5MM, a wild guess?); terminate that business or divestment. Incidently, the appraisal adjustments quoted in the complaint seem to be about 1-5% for a $500,000 property, and that seems minor against the backdrop of a 25% drop in subsequent housing values. What if they settled for $100MM? That's not so much for a company with a current market cap of about $3B, and which has seen its price already drop from highs: Jun'07=55, Feb'08=42; Sep'08=32; now=18, and with a comparable low in 2001. Houses are selling much better this month than a year ago. Revenues should be going up now. There is an outstanding issue of future regulation and fee capping in this business. Shouldn't we be starting to buy FAF here? Any non-nasty comments? Disclosures: holding FAF common bought around $38/sh awhile ago (ouch!); and bought a house this month with a First Amer Title Policy attached.
.
It is most definitely not a question of ethics. Might is right. It all boils down to a ‘meaningless’ fine for a company worth – excuse me sir - how many billions today? Oh! I almost forgot: The U.S. Govt will provide the bail out funds if need be! No mighty, naughty and haughty could ever become a jail bird! We are having too much fun… The party must go on… at any cost…!
This time it will cost a minimum of $1.5 trillion to feed the greed of the mighty. Jail bail omitted for committed crooks!
Wednesday, November 26, 2008
Friday, November 07, 2008
A black First American - That's Title To Justice
A black First American – That’s Title To Justice!
Free! Free at last… Americracy has finally freed itself from bitter mediocracy!
From Africa to America a thousand bushes of dim lights have yielded to the shining brightness of millions of red flaming hearts igniting all races and colors to flash new rays of hope sky high!
A weak burnt out Bush, brought to his knees through wrecking general havoc over the world, has surrendered to the power of those who humbly kneel down before the Burning Bush!
The scale of the wealth of the mighty could not tip the scales against the more worthy!
The White house will finally be the Black’s house opening its doors to all without discrimination.
Winning 92% of the International community’s vote, the election of President Obama by Americans was crucial for the welfare of the world village.
Christmas is drawing near. The theme ‘Peace to the world…’ will be soon sung by the ‘Voice of America’ choir. This time, it will strike a meaningful new note in renewed hearts the world over.
And for the first time in years the world should gladly echo back the refrain: God Bless America!
Change! Yes we can! Change if not the color of our skin, at least the color of our thoughts.
In Mauritius our Honorable Prime Minister, Dr. Navinchandra Ramgoolam, the stateliest of international statesman, (as once again evidenced and further confirmed during his recent tour of Asia, Europe and North America) has urged us and shown us how to capitalize on our diversity by strengthening our bonds of unity.
There is a season for everything. May a new young President from the new world humbly accept much wise guidance from an outstanding scholar and a most successful and more seasoned Prime Minister from a much older and most dynamic world.
Change! Yes we can! A bonding and mighty Prime Minister from Mauritius, a relatively small mixing pan, and a budding starting, yet small American President from a once mighty and respected melting pot can and should come closely together to show the world that through change all things are made possible with God’s help. Can we all cheer them on and follow their example to make our entire world a durable one?
America has canned Bush, and sent him to the back of the Barracks. With time, may the world come to forget and forgive the Bush arrogance and hopefully that of his followers…
There is a season for everything… Even for the mighty Prime Minister of a smaller nation to lead the younger President of a mightier country along the visionary highways of our common world village! Thus, for ever more the might of the right will NO longer be right …!
Free! Free at last… Americracy has finally freed itself from bitter mediocracy!
From Africa to America a thousand bushes of dim lights have yielded to the shining brightness of millions of red flaming hearts igniting all races and colors to flash new rays of hope sky high!
A weak burnt out Bush, brought to his knees through wrecking general havoc over the world, has surrendered to the power of those who humbly kneel down before the Burning Bush!
The scale of the wealth of the mighty could not tip the scales against the more worthy!
The White house will finally be the Black’s house opening its doors to all without discrimination.
Winning 92% of the International community’s vote, the election of President Obama by Americans was crucial for the welfare of the world village.
Christmas is drawing near. The theme ‘Peace to the world…’ will be soon sung by the ‘Voice of America’ choir. This time, it will strike a meaningful new note in renewed hearts the world over.
And for the first time in years the world should gladly echo back the refrain: God Bless America!
Change! Yes we can! Change if not the color of our skin, at least the color of our thoughts.
In Mauritius our Honorable Prime Minister, Dr. Navinchandra Ramgoolam, the stateliest of international statesman, (as once again evidenced and further confirmed during his recent tour of Asia, Europe and North America) has urged us and shown us how to capitalize on our diversity by strengthening our bonds of unity.
There is a season for everything. May a new young President from the new world humbly accept much wise guidance from an outstanding scholar and a most successful and more seasoned Prime Minister from a much older and most dynamic world.
Change! Yes we can! A bonding and mighty Prime Minister from Mauritius, a relatively small mixing pan, and a budding starting, yet small American President from a once mighty and respected melting pot can and should come closely together to show the world that through change all things are made possible with God’s help. Can we all cheer them on and follow their example to make our entire world a durable one?
America has canned Bush, and sent him to the back of the Barracks. With time, may the world come to forget and forgive the Bush arrogance and hopefully that of his followers…
There is a season for everything… Even for the mighty Prime Minister of a smaller nation to lead the younger President of a mightier country along the visionary highways of our common world village! Thus, for ever more the might of the right will NO longer be right …!
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