the facebook deal of goldman sachs completely broke down the domestic side what happened there reggie melton i couldn't tell you but it was a fly on a wall that looks like this he threatened to do the job right exactly the f.c.c. threatened to do their job apparently goldman sachs was trying to do an end run around the way the law works you can only have a certain number of investors before you have to come forward a lot more disclosure. were openly flouting the law and a lot of people now are upset because this whole deal looks like a complete catastrophe what what what gives goldman sachs the idea that they can simply flaunt the law like this they don't have the idea they were from presidents haven't they done it before i mean you know of the last three years goldman sachs is been pretty much goldman sachs but i must say. any investors who are upset because they couldn't get into the i.p.o. should count their blessings you know they were done a favor do is just run a numbers an i.p.o. and it was outrageously priced let's talk about those numbers are talking about a fifty billion dollars va

crisis you're right that the banks are now walking away from the foreclosures what's going on there reggie melton starting on the fringes with lower value properties but there are cases in. chicago where banks are actually. banning properties of properties i warned of this last year and when i did one of it a lot of. so-called experts were putting the idea of basically saying that there is no. is a very slim chance of economic situation where a bank would turn down any recovery that's assuming that there is a recovery to turn down there are several situations where the bait simply comes out in the negative of the a typical after property. i don't know if it's that simple because the bait could potentially still be on the hook with the municipalities for back taxes fines etc but as it is starting on the fringes and i believe it's going to work its way up towards the core and the mainstream of loans if things continue to go the way they are and there is absolutely no reason the world to believe that they're not going to go the way they are because going on this path because you still have supply as