Myrtle Beach Real Estate by Mirela

Good for Nevada. I hope California follows close behind, and every other state. We all know there's been shoddy or non-existent paperwork involved in these foreclosures.

Pamela:  I'm reading  "Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America", by Matt Taibbi and it's quite an education.  It's a must read for any Real Estate Agent, and indeed it should be read by every American.  

This is indeed, a very promising new direction and I commend those Nevada legislators.

The Glass-Steagall Act, which was repealed in 1999, and replaced with The Gramm-Leach-Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, which effectively made predatory lending legal, thereby creating the basis for the subprime home mortgage crisis that cost taxpayers trillions of dollars: http://bit.ly/YesGlassSteagall

The Commodity Futures Modernization Act of 2000, was the final nail in our financial coffin, in essence legalizing wall street gambling:  http://bit.ly/WeGotScrewed

Thanks for sharing this info, I will have to look up that book.

Mirela, one of the act's co-authors, Senator Phil Gramm, defended the bill by saying:

"If GLB was the problem, the crisis would have been expected to have originated in Europe where they never had Glass–Steagall requirements to begin with. Also, the financial firms that failed in this crisis, like Lehman, were the least diversified and the ones that survived, like J.P. Morgan, were the most diversified. Moreover, GLB didn't deregulate anything. It established the Federal Reserve as a superregulator, overseeing all Financial Services Holding Companies. All activities of financial institutions continued to be regulated on a functional basis by the regulators that had regulated those activities prior to GLB."

Hi Mirela, I just wanted to stop by and say HELLLOOO!

yes they look so nice but Foreclosures are such tough on to stomach.