Archive for 'securities fraud' Category
Today we have a bill pending that stops the meltdown. It is a courageous and creative step that protects all parties. It requires YOUR input, so pass this along to as many other people as you can. This is much more than a step in the right direction. It would be nice to see support […]
CLINTON — MCCAIN FORECLOSURE FREEZE GETS COLD SHOULDER BUT SOUNDS GOOD Well here is a version (SEE ARTICLE BELOW) of what we have been pushing for months —- changing the terms of the mortgages so that the homeowner can stay in the house and the mortgage can be modified, sold or recast for capital accounting. […]
It is startling to see how little anyone knows about the mess we are in. First they don’t understand how bad this is going to get. Second they don’t understand how it happened because they don’t understand the financial system. And third, they have no clue how to prevent this from happening again. They don’t […]
Every one of the facts stated here are verifiable from multiple sources and are NOT disputed. The only policy question that is relevant is WHETHER WE PUT PEOPLE OR BIG BUSINESS FIRST in our priorities. The rest is obvious. HERE ARE SOME EXAMPLES: 1. HEALTHCARE: (AT LEAST $1 TRILLION IN DIRECT AND HIDDEN FAT IN […]
I would give credit for the term “moral constipation” but I can’t remember where I heard it. I invite all who read this to give me the creator’s name so I can correct this blog and give him the attribution he deserves. It appears that we can all agree on one thing regardless of which […]
In both cases — housing prices and CDO/CMO prices, there was no intervening factor that caused the decline. No meteor hit the earth, no world war broke out, no material event occurred to account for these changes. It is therefore impossible to come to any conclusion except that the fair market values of the houses […]
Trouble for American Consumer is building and the perfect storm threatens our tenuous economy. DEEP RECESSION LOOMS WITHOUT FUNDAMENTAL CHANGE IN OUR POLITICS AND ECONOMIC POLICIES The inevitable outcome was always the same: eventually we would hit the the top, like in any Ponzi scheme. Consumers, who maxed out their credit cards, and maxed […]
April 6, 2008 FAIR GAME A Road Not Taken by Lenders By GRETCHEN MORGENSON WE’VE all heard a great deal in recent months about the greedy borrowers who caused the subprime mortgage calamity. Hordes of them duped unsuspecting lenders, don’t you know, by falsifying their incomes on loan documents. Now those loans are in default […]
Memo to all Senators, Congressmen and state legislators: The solution proposed by Barney Frank for the Mortgage Meltdown is dead-on right. Suck it up. The disaster that awaits will fall on your record unless EVERYONE gets something they can go home with. Any lender that opposes this is arguing for their own disaster. This […]
Collateral damage and contributing damage From CNN and NY Times: Loss of jobs means loss of income, loss of tax revenue, increased defaults on home loans, credit cards etc. The downward spiral of economics and the upward spiral of inflation are here. They will continue to feed off of each other. It is political cowardice […]
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