Archive for 'Corruption' Category
Collapse of David J. Stern law firm throws foreclosure courts into disarray By Susan Taylor Martin, Times Senior Correspondent In Print: Wednesday, March 9, 2011 Attorney David J. Stern, whose law firm was once known as Florida’s top foreclosure “mill,” owns this $16 million Fort Lauderdale home. Now, as Stern himself faces financial difficulties, some […]
COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ SEE modification-plan-sought-follow-the-money-not-the-paperwork EDITOR’S NOTE: Moynihan is pulling out the old argument, trying to stir up people who have been paying their mortgage so he and the other mega banks won’t be required to cough up trillions of dollars they stole through fraudulent appraisals of property inducing […]
COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ EDITOR’S NOTE: Well we already knew that his son was working in SEC enforcement so it should come as no surprise that the SEC attorney that was involved in payouts to victims was also involved with Madoff. In fact, it should be no surprise that hundreds […]
COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ NO SEATS FOR HOMEOWNERS AT BARGAINING TABLE 27_page_settlement2 And because Wall Street controls the message, drowning out the facts, most people are going to believe that this is just too complicated to resolve and that $20 billion is better than nothing. Actually it isn’t. By going […]
COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ EDITOR’S NOTE: In 1983 the nominal value of credit derivatives was zero. Today it is over $600 TRILLION. None of this would have been possible without the active complicity of credit rating companies who as quasi public agencies “assured” the quality of securities sold to both […]
COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ EDITOR’S COMMENT: The unfortunate moral of the story is that crime actually DOES pay even if you are caught. That 7 million homes were yanked out from under homeowners and millions more are on the butcher block doesn’t seem to matter. Stern made something like $100 […]
COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ “For us to admit that we have let a small group of men abscond with and hoard the bulk of the wealth that runs our economy, would mean that we’d have to accept the humiliating acknowledgment that we have indeed surrendered our precious Democracy to the […]
COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ Both the class action lawyers and the AG offices are looking for settlements that will cure the “foreclosure” problem. This is based upon the perceived benefit of getting the foreclosures either litigated or settled, SO THE “MARKET” CAN RESUME “FORWARD” MOTION. But what if the basic […]
COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ Editorial Comment: I like the intent behind this and the potential effect it will have as investors, servicers and investment banks fight out the losses created by the Great Securitization Scam. BUT the presumptions behind these plans demonstrates that the AG offices still have not drilled […]
COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ EDITOR’S COMMENT: I agree with Krugman from an economists point of view that this is like 1937 all over again when the Republican scare tactic of the deficit drove us back into a depression. But I think he misses the point. He says they are killing […]
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