IndyMac was nothing but a sham - this guy Steve Curnutte wrote about the way they booked profits on the pay option arms in the summer of 2007. They were a house of cards from the beginning.
No one can ever keep up with Shep on this show - he just rants! But this guy held is own. It is rediculous that the FDIC did not even have Indy Mac on the watch list. Shows how much they know I guess. This is my first YOU TUBE account! Am lovin' checking things out. Out.
I have see this guy Steve Curnutte on the news several times. He does a pretty good job of making the mortgage collapse understandable. Most people are either too far gone in the weird world of mortgages, or too far gone in the world of economics. He seems like he speaks both languages. The whole things is such a mess -I think people are only now starting to understand it.
I'm Steve's nephew and I'm glad to see positive comments about my uncle, thanks!
ObiSamuel 1 year ago
The pay option arm was a nightmare. Book the 15% over 100% of the value as profit when you originate the loan? Wow.
BarstH12 3 years ago
IndyMac was nothing but a sham - this guy Steve Curnutte wrote about the way they booked profits on the pay option arms in the summer of 2007. They were a house of cards from the beginning.
ChadM4506 3 years ago 2
See, people don't remember. Funny, this warning was back in July, how can people be shocked?
Tonight, Lou Dobbs said the FBI is Hot on Fanny Freddie, Lehman brothers brothers and AIG, Folks are going to jail hopefully anyway.
Now we know why the Section 8 was so secret!
Signzit 3 years ago 3
Who is going to Jail? Hanging then trial, bro. If they are guilty hang them again . . .
Love and bullets
Phillipdmind 3 years ago 3
No one can ever keep up with Shep on this show - he just rants! But this guy held is own. It is rediculous that the FDIC did not even have Indy Mac on the watch list. Shows how much they know I guess. This is my first YOU TUBE account! Am lovin' checking things out. Out.
MikeFlkj 3 years ago 3
I have see this guy Steve Curnutte on the news several times. He does a pretty good job of making the mortgage collapse understandable. Most people are either too far gone in the weird world of mortgages, or too far gone in the world of economics. He seems like he speaks both languages. The whole things is such a mess -I think people are only now starting to understand it.
BarstH12 3 years ago 2