ms.smiler
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Sun Oct-23-11 08:03 PM
Response to Original message |
| 93. I have a better idea than refinancing home mortgages. |
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Since the Wall Street banks defrauded both investors and homeowners with securitized mortgages, how about homeowners file Quiet Title actions to obtain their Deeds and money damages? That is a much better remedy since the banks have clouded millions of Titles and the homeowners won't ever receive a valid Deed no matter how much money they pay or how many times they refinance. A mortgage loan need only be paid once and the Wall Street banks have no legal right to collect multiple times upon the same debt. http://www.democraticunderground.com/discuss/duboard.ph... I’ve been researching mortgage/foreclosure fraud for 3 years. I recently filed a Quiet Title suit over a new MERS issue. 300 such suits were filed in PA & NJ and in 297 of those suits, the mortgage servicers are either voluntarily withdrawing their fraudulent liens or the court will strike them from our land records. My case is among the 1% going to trial and is closest to trial. Since it is so easy to strike invalid property liens, why should homeowners with a securitized mortgage refinance? |
| -Congressman: Obama should unilaterally ‘refinance every home mortgage’ |
boston bean |
Oct-23-11 08:34 AM |
#0 |
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Does the President actually have the authority to pull this off? |
Firebrand Gary |
Oct-23-11 08:45 AM |
#1 |
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According to Rep. Moran, he does. nt |
boston bean |
Oct-23-11 08:46 AM |
#2 |
| -
Moran is dead wrong |
ProgressiveProfessor |
Oct-23-11 09:02 AM |
#6 |
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What is the exact reason Obama can't do this? nt |
boston bean |
Oct-23-11 09:07 AM |
#7 |
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There are many... |
ProgressiveProfessor |
Oct-23-11 09:12 AM |
#9 |
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The majority are backed by Fannie and Freddie. nt |
boston bean |
Oct-23-11 09:18 AM |
#13 |
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Not relevant to existing mortages. |
ProgressiveProfessor |
Oct-23-11 09:21 AM |
#15 |
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I want to know why Obama can't do it? Exact reason why please. |
boston bean |
Oct-23-11 09:23 AM |
#19 |
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Already answered. What part of it do you not understand? |
ProgressiveProfessor |
Oct-23-11 09:26 AM |
#22 |
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Jim Moran says he can, your answer is not a real reason why he cannot. |
boston bean |
Oct-23-11 09:29 AM |
#25 |
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If Contracts and Constitutional Powers 101 are not enough for you, what would be? |
ProgressiveProfessor |
Oct-23-11 09:33 AM |
#32 |
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Jim Moran made the distinction in the video. Did you watch it? |
boston bean |
Oct-23-11 09:35 AM |
#36 |
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See post #43. Moran made a classic pol statement and you are misreading it |
ProgressiveProfessor |
Oct-23-11 09:55 AM |
#46 |
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I didn't add any personal opinion in the OP. In fact, I have barely had a personal opinion in this |
boston bean |
Oct-23-11 09:57 AM |
#48 |
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What is in it for the OWs |
selah775 |
Oct-23-11 01:48 PM |
#86 |
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Here is the rub as I see it. |
reformed_military |
Oct-24-11 10:45 AM |
#104 |
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What part of the Constitution prevents him from doing it? Contracts are ruled null and |
Exilednight |
Oct-23-11 07:33 PM |
#90 |
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By the judicial branch at the request of someone who has privty of contract |
ProgressiveProfessor |
Oct-23-11 10:35 PM |
#98 |
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Sure about that? |
Doremus |
Oct-23-11 09:50 AM |
#42 |
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Not sure, but I think that Fannie and Freddie own most of them due to the bail outs. |
boston bean |
Oct-23-11 10:14 AM |
#52 |
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What change? |
Pab Sungenis |
Oct-23-11 11:30 AM |
#69 |
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Not without enabling legislation and appropriations |
ProgressiveProfessor |
Oct-23-11 11:42 AM |
#74 |
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It already has the power. |
Pab Sungenis |
Oct-23-11 11:45 AM |
#77 |
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Lay that one out |
ProgressiveProfessor |
Oct-23-11 11:46 AM |
#78 |
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That would actually work. Create a bad bank, buy up the mortgages, lord knows the banks don |
Exilednight |
Oct-23-11 07:39 PM |
#91 |
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Where would the funding come from to buy up the mortgages? |
ProgressiveProfessor |
Oct-23-11 10:42 PM |
#100 |
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That's why you create the bad bank. n/t |
Exilednight |
Oct-24-11 07:09 PM |
#107 |
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The paperwork to create it does not mean the funding to do what you propose will appear |
ProgressiveProfessor |
Oct-25-11 11:06 PM |
#110 |
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it doesn't need funding, just short term borrowing power - which is |
Exilednight |
Oct-26-11 05:29 AM |
#111 |
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Tell that to the GM bondholders |
IndyPragmatist |
Oct-26-11 06:12 AM |
#112 |
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FDR created the h.o.l.c. |
StarsInHerHair |
Oct-23-11 08:53 PM |
#94 |
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It was done with the cooperation of the Legislative branch, not by executive fiat |
ProgressiveProfessor |
Oct-23-11 10:59 PM |
#101 |
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Wouldn't that be an indirect way of bailing out the banks -- again? |
no_hypocrisy |
Oct-23-11 08:49 AM |
#3 |
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Ask yourself why the banks aren't doing it themselves if it helps them so much... |
boston bean |
Oct-23-11 08:50 AM |
#4 |
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Yep. |
no_hypocrisy |
Oct-23-11 08:51 AM |
#5 |
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They're not doing ti because they want the full value of the original loan. n/t |
Exilednight |
Oct-23-11 07:41 PM |
#92 |
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This would crush the banks. |
Lucky Luciano |
Oct-23-11 09:31 AM |
#29 |
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Then in turn and as stated in financial reform |
Firebrand Gary |
Oct-23-11 09:39 AM |
#38 |
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It's the way the banks should have been bailed out to begin with. |
Pab Sungenis |
Oct-23-11 11:32 AM |
#70 |
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All I want for Christmas is this to be true and for Obama to do it. |
Firebrand Gary |
Oct-23-11 09:09 AM |
#8 |
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And many little girls want a pony |
ProgressiveProfessor |
Oct-23-11 09:13 AM |
#10 |
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really? and why is that Obama can't do it? Exact reason please.. nt |
boston bean |
Oct-23-11 09:17 AM |
#12 |
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Cited above...lets keep it in a single subthread |
ProgressiveProfessor |
Oct-23-11 09:22 AM |
#16 |
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I'll respond where I see fit, thank you. Just as you are. We can both do what we like. nt |
boston bean |
Oct-23-11 09:31 AM |
#28 |
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But the party of NO would say NO. |
Amonester |
Oct-23-11 09:17 AM |
#11 |
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Ah, he wants a dictatorship, |
MadHound |
Oct-23-11 09:21 AM |
#14 |
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He says Obama does have the power. |
boston bean |
Oct-23-11 09:23 AM |
#17 |
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And as discussed above, Moran is wrong |
ProgressiveProfessor |
Oct-23-11 09:24 AM |
#20 |
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It would require giving Obama the power to break private contracts, |
MadHound |
Oct-23-11 09:25 AM |
#21 |
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I'm not sure I see it as a slippery slope. there are many things he cannot do. |
boston bean |
Oct-23-11 09:27 AM |
#23 |
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You think POTUS can unilaterally break private contracts? |
ProgressiveProfessor |
Oct-23-11 09:28 AM |
#24 |
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I said Jim Moran said he can lower the rates unilaterally. That is what I am saying. nt |
boston bean |
Oct-23-11 09:30 AM |
#26 |
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That is not what Moran said...and POTUS can not unilaterally do it anyway |
ProgressiveProfessor |
Oct-23-11 09:32 AM |
#30 |
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What did Moran say then? What am I misunderstanding? nt |
boston bean |
Oct-23-11 09:33 AM |
#31 |
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In order to do so, he would have to break a private contract |
MadHound |
Oct-23-11 09:33 AM |
#34 |
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Many of these contracts that were done, were not on the up and up. |
boston bean |
Oct-23-11 09:46 AM |
#41 |
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The answer is still not a POTUS decree |
ProgressiveProfessor |
Oct-23-11 09:54 AM |
#44 |
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Why? nt |
boston bean |
Oct-23-11 09:55 AM |
#45 |
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Because he does not have the authority at this point to break private contracts |
ProgressiveProfessor |
Oct-23-11 11:43 AM |
#76 |
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That is not what Jim Moran is saying.... you need to listen again to his words. nt |
boston bean |
Oct-23-11 11:46 AM |
#79 |
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I did, typical pol sound bite, no details, not implementable, but made the news |
ProgressiveProfessor |
Oct-23-11 11:47 AM |
#80 |
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then you don't understand. |
boston bean |
Oct-23-11 11:52 AM |
#81 |
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No it is you who does not understand the current laws and how home financing works |
ProgressiveProfessor |
Oct-23-11 12:07 PM |
#82 |
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He admitted no such thing, in fact, he said the exact opposite of what you are interpreting. nt |
boston bean |
Oct-23-11 12:08 PM |
#83 |
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That still doesn't give him the power to break a private contract |
MadHound |
Oct-23-11 02:01 PM |
#88 |
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we'll have to borrow the money from China |
selah775 |
Oct-23-11 02:00 PM |
#87 |
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Agree. n/t |
lumberjack_jeff |
Oct-23-11 11:24 AM |
#67 |
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It is contemptible for a sitting member of Congress advocate for the transfer of power vested |
Chih |
Oct-23-11 09:23 AM |
#18 |
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ah-um: This $y$tem is... |
Amonester |
Oct-23-11 09:33 AM |
#33 |
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Correct, It would require some massive legal changes and is not possible today |
ProgressiveProfessor |
Oct-23-11 09:35 AM |
#35 |
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Let's make it become possible then. |
Amonester |
Oct-23-11 09:36 AM |
#37 |
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At least lets not foolishly claim it can be done today by POTUS decree |
ProgressiveProfessor |
Oct-23-11 09:53 AM |
#43 |
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I think you need to re-watch the video. He doesn't say what you are saying he did. nt |
boston bean |
Oct-23-11 09:56 AM |
#47 |
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He said what I described. He was a typical pol giving out soundbites |
ProgressiveProfessor |
Oct-23-11 09:58 AM |
#49 |
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He said what is written in the OP, and what he said in the video. Not your interpretation. |
boston bean |
Oct-23-11 09:59 AM |
#50 |
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Try again, this time with some clarity |
ProgressiveProfessor |
Oct-23-11 11:26 AM |
#68 |
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"It would devalue banks tremendously as they compete with |
socialist_n_TN |
Oct-23-11 10:45 AM |
#58 |
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Did I say it was a bad thing? |
ProgressiveProfessor |
Oct-23-11 11:35 AM |
#71 |
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Nope most of the exposure was to private mortgage banks |
socialist_n_TN |
Oct-23-11 07:23 PM |
#89 |
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If your assumptions are correct, I would tend to agree |
ProgressiveProfessor |
Oct-23-11 10:38 PM |
#99 |
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Helps a small percentage of the people with underwater mortgages |
FarCenter |
Oct-23-11 09:31 AM |
#27 |
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And which Congress, pray tell, is going to appropriate the money to do this? |
ThomWV |
Oct-23-11 09:39 AM |
#39 |
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Please watch the video, I think it will explain why Jim Moran says he has this power. |
boston bean |
Oct-23-11 09:44 AM |
#40 |
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Where's he going to get the 10 trillion $ |
dems_rightnow |
Oct-23-11 09:06 PM |
#95 |
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Love this idea. |
Kingofalldems |
Oct-23-11 10:03 AM |
#51 |
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Obama should unilaterally Mow my Lawn and Fix my Headlight.... |
NYC_SKP |
Oct-23-11 10:21 AM |
#53 |
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i take it you didn't watch the video? nt |
boston bean |
Oct-23-11 10:32 AM |
#54 |
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No, I read the transcript. I stand by my assertion that Wall Street won't let him do it. |
NYC_SKP |
Oct-23-11 10:36 AM |
#55 |
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Wall Street won't let him do it?? So they are more powerful than the POTUS? |
boston bean |
Oct-23-11 10:40 AM |
#56 |
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When has a POTUS without a sympathetic Congress EVER done anything so bold? |
NYC_SKP |
Oct-23-11 10:47 AM |
#60 |
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No one would ever know unless he was bold enough to try it, right? |
boston bean |
Oct-23-11 10:50 AM |
#61 |
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He lacks the basic authority to do anywhere near what you advocate |
ProgressiveProfessor |
Oct-23-11 11:38 AM |
#72 |
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Moran admitted what?? |
boston bean |
Oct-23-11 11:40 AM |
#73 |
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That legislation and appropriations were needed |
ProgressiveProfessor |
Oct-23-11 12:09 PM |
#84 |
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that is not what he said. in fact it was the opposite. nt |
boston bean |
Oct-24-11 07:36 AM |
#103 |
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Well that's the idea behind OWS isn't it? |
socialist_n_TN |
Oct-23-11 10:52 AM |
#62 |
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I think you're right except not sure he can legally do it. For sure he can't practically without US |
NYC_SKP |
Oct-23-11 11:05 AM |
#66 |
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I would hope our voices meant more. However that doesn't seem to be the case. |
boston bean |
Oct-23-11 11:43 AM |
#75 |
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He can not do it legally today |
ProgressiveProfessor |
Oct-23-11 12:10 PM |
#85 |
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this thread is awesome. |
dionysus |
Oct-23-11 10:45 AM |
#57 |
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Place does get fuckin' wacky some days, doesn't it? nt |
Codeine |
Oct-23-11 10:46 AM |
#59 |
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some people think the president could unilaterally; |
dionysus |
Oct-23-11 10:54 AM |
#63 |
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that is bologne. |
boston bean |
Oct-23-11 10:55 AM |
#64 |
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YUP! n/t |
Tejas |
Oct-23-11 11:01 AM |
#65 |
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I have a better idea than refinancing home mortgages. |
ms.smiler |
Oct-23-11 08:03 PM |
#93 |
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Question??? |
sweetapogee |
Oct-24-11 11:27 AM |
#105 |
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It can and I will explain. |
ms.smiler |
Oct-24-11 06:55 PM |
#106 |
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in a nut shell |
sweetapogee |
Oct-25-11 06:17 AM |
#108 |
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Like most homeowners I have a securitized mortgage. |
ms.smiler |
Oct-25-11 04:33 PM |
#109 |
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personally |
sweetapogee |
Oct-26-11 07:51 AM |
#113 |
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I think it is fairly easy for the court to review what MERS has done |
ms.smiler |
Oct-26-11 01:43 PM |
#114 |
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Rep Moran is the |
Nodak |
Oct-23-11 09:08 PM |
#96 |
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He is a good pol doing what pols do, including making sound bites for media |
ProgressiveProfessor |
Oct-23-11 11:01 PM |
#102 |
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But that would interfere with his next Wall Street bailout. |
Vidar |
Oct-23-11 09:26 PM |
#97 |
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