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San Bernardino Council Votes for Bankruptcy
Central Falls ruling from the court-It is a federal court-and while not in the same circuit it will still be valid law under the Federal Rules Decisions and persuasive precedent. If the pensions become a target they are going down, and sooner or later one fo the munis will take on Calpers who are going to litigate the issue-I say litigate it and get an answer.— July 12, 2012 1:20 p.m.
San Bernardino Council Votes for Bankruptcy
That question was already answered in Central Falls RI where the BK court cut pensions (police and FF) by 55%. If any muni goes after pensions they have the federal ruling from Central Falls backing them up.— July 12, 2012 1:54 a.m.
San Bernardino Council Votes for Bankruptcy
The muni puts a tax lien on the property, which is first in line to be paid, ahead of trust deeds, so they will get the taxes. The bank is going to pay the tax lien, or maybe try to negoiate it in the purchase agreement, but I have never seen this hapen myself. I cannot stress enough how dumb these banks/lenders are, including fannie and freddie, it was even worse in the 1989-94 commercial REO mletdown. The federal RTC was without a doubt one of the-no the worst- worst run, dumbest federal agecies I ever saw, and exhibit #1 on why the gov should never be in charge of large scale projects-no matter what it is— July 12, 2012 1:52 a.m.
San Bernardino Council Votes for Bankruptcy
The banks do not file tax appeals, they don't have the asset long enough and to be very honest are too damn stoopid. I dealt with all/any banks/financial institutions in the commercial meltdown, and all of them are morons, the bigger the bank the more stupid they were- Bank of America was the dumbest ever. They would be BK right now if not for the gov, and one reason is they have awful customer service, a corporate culture of incompetence.......Fannie Man and Freddie Mac-on man do I have stories, they are even dumber than the banks ...If everyone had a few hours I could keep them very entertained with bank incompetence.— July 12, 2012 1:46 a.m.
Balboa Park[ing Garage]
Ponzi-good points, what are those idiots thinking??????— July 12, 2012 1:40 a.m.
Four Men Not Quite Charged in Court Yesterday
Got it— July 11, 2012 3:15 p.m.
San Bernardino Council Votes for Bankruptcy
Whoever owns the property is responsible, so if a bank forcloses then the bank owers the tax.— July 11, 2012 3:14 p.m.
San Bernardino Council Votes for Bankruptcy
If that is true then PRISON time should be chased as fast as possible, don't ever expect it to happen tho.— July 11, 2012 3:13 p.m.
San Bernardino Council Votes for Bankruptcy
LOL....it doesn't get any better than this-and SB bypassed the meet and confer 60 (??) cooling of period under an "emergency" clause of that anti BK law just passed..LOL Get used to this-it is going to be repeated over and over again the next 3-5 years.— July 11, 2012 3:12 p.m.
Bridgepoint's Ashford Denied Accreditation; Stock Plummets
<b>Let's face it: Bridgepoint is more of a boiler room than an educational institution, and regulators and accrediting bodies know it. Best, Don Bauder</b> Yet gov allows it. Like the gov allowed MF Global to steal $1.6 billion of investor money and no one is in the joint, no one has been charged, no one is even under investigation-banana republic we are— July 11, 2012 1:06 a.m.