Motown Bombers

The Center Line school board has 5 members. Last year, only 6 people ran. The one person who didn't win has an Arab sounding name so that's why she didn't win. I could possibly win by default and install the woke mind virus.

I signed up for Run For Something. I scheduled a conference call for the 22nd. I'll see what they have to say. It says for progressives 40 and under. I just made the cut.

And I’m the one unemployed.

The CEO and management here were touting Trump's de-regulation and took a swipe at Elizabeth Warren who called this merger out. You can see why we need more regulation and not less. None of this had to happen. "The Flagstar class action lawsuit alleges that the offering documents promoting the merger contained materially false and misleading statements, including overstating NYCB's income from operations, goodwill, and total assets, while understating expenses and losses."

Musk's skill has always been manipulating the stock price of Tesla. Tesla has always been junk, but Musk constantly promised innovation that never happened. He keeps pumping the stock. The curtain may have been pulled back on the Wizard of Oz and people see who he really is now.

The selling of servicing rights is common practice. If your loan was a conventional loan, it is really owned by Fannie Mae or Freddie Mac. ValuePoint, just services it. They receive a fee to do so, usually like a quarter of a percent and the rest goes to Fannie or Freddie. Batches of loans get sold all the time between lenders. Flagstar sells the loan to ValuePoint, and Flagstar then in turn uses those funds to lend to new customers. Flagstar was a large servicer which was unusually for a bank. Once we tied ourselves to a boat anchor in NYCB, the servicing business was the only thing of value that could be sold so Flagstar is completely out of the servicing business. You can still go into a branch and get a mortgage, but it will then be sold to a servicer. The CEO of legacy Flagstar was in his 70's and already living in Florida. He was the largest private shareholder of Flagstar so when the company originally merged, the stock soared, he got his windfall and went into retirement. Unfortunately for him, the new CEO wiped the stock out and he came back and forced the new CEO out and replaced him with right-wingers. It really is remarkable how quickly the company fell apart after the merger. It was only about a year.

I'm reaching out to the Benson and McMorrow campaigns about job or volunteer opportunities. Maybe it would be better if I became part of a campaign and learned a little more. I haven't seen anyone declare for MI-10 yet.

I do have hot takes. Don't get me started on leftists or Jared Goff.

I had been coy about where I work since I didn't want to share too much personal stuff, but since that is coming to an end, I worked at Flagstar Bank for 13 years. I work in the risk and compliance area and basically did reporting for them primarily on customer feedback and insights. Identifying risk and compliance issues, efficiency opportunities, and just general customer support improvements. A couple years ago, Flagstar merged with New York Community Bank. NYCB was highly leveraged in commercial properties in Manhattan and multi-family housing in New York. COVID, which this merger was done during COVID, crashed the commercial market. New York's rent control crashed the multi-family housing. NYCB was a state-chartered bank and we were going to state chartered. The regulator for state-chartered banks, FDIC, didn't approve the merger because of how highly leveraged with bad assets NYCB was. Since Flagstar was federally chartered, they changed the merger agreement were NYCB merged with Flagstar and became federally chartered to get a different regulator, OCC, who approved this merger. This again is why we need regulation. If that wasn't bad enough, when Silicon Valley Bank went belly up, Signature Bank did to. Flagstar decided to buy that. The issue was it pushed Flagstar to over $100 billion in assets. That's a big deal because it makes it a category 4 bank and the CFPB requires a lot of reserve capital for big banks. Well, Flagstar didn't have it because it grew too fast too quickly. It then had to write down some billion dollar loses in New York real estate, so the company posted a surprise loss. The stock tanked quicker than Tesla. The CEO was essentially fired. Private equity bailed it out. It's basically right-wing equity firms. Steve Mnuchin is on the board and Joseph Otting, Trump's OCC his first term, is the CEO. They sold the mortgage servicing business and everything of value. They announced today they are also outsourcing the call center. They are basically preparing the company to be sold. I should have bailed a while ago, but I get a nice severance package. Didn't mean to go into a history of the company but it cathartic being able to tell the story on how this company ****ed up royally. Everything was going well before the merger, and it was a great place to work for. The funny thig is, despite being run by right-wingers, they still kept DEI.

I have terrible people skills. If you think Biden was bad at speeches and debate, I don't even know how to put together a campaign. We used to have a real nutter on city council in my district. if he can do it, I can do it.

I'm barely 40. I could run for congress in MI-10.

I found out today I lost my job. It's not a surprise as I saw it coming for a couple years now so I've prepared and have enough finances to last me about two years barring unforeseen expenses. Guess this is the sacrifice we have to make for Musk and Trump's economy. The dread that has been over this company as it circled the drain had become a lot. I do feel liberated today and I'm going to troll John James so more.