COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ EDITOR'S ANALYSIS: WHAT IS THE EFFECT OF TRADING, BUYBACKS, RECONSTITUTED "TRUSTS" ON THE CLAIMS OF "OWNERSHIP" OF THE LOANS?" Up in the clouds of finance and trading desks they are creating accounting entries indicating transfers of mortgage backed bonds. AIG announced it is "buying back" $17 billion worth of the worthless…[...]
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COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ NOTABLE QUOTES FROM NY TIMES ARTICLE BY FLOYD NORRIS: A surprising citadel of that second-guessing is at the International Monetary Fund, where researchers this week concluded that the rescues “only treated the symptoms of the global financial meltdown.” The researchers, Stijn Claessens and Ceyla Pazarbasioglu, warned that “a rare opportunity is…[...]
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COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ EDITOR'S QUESTION: Just what do they expect these people to do? The actual number of underwater homes is now approaching 20 million or 40% of all homes --- again because of the way they measure it, leaving out things that directly affect the actual price paid and the proceeds of sale.…[...]
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COMBO TITLE AND SECURITIZATION SEARCH, REPORT, ANALYSIS ON LUMINAQ I've been hearing conspiracy theorists tell me that the states didn't want to stop foreclosures, they wanted to keep them going and speed them up BECAUSE the court administrators had done the math, especially in states like Florida, where the filing fees are so high. As cynical as I am about…[...]
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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 of his property and other…[...]
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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 people to get into "loan"…[...]
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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 of "channels" were involved on…[...]
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TAKING JUSTICE OFF THE TABLE – 2 CENT SETTLEMENT
Mar 8, 2011
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 that low, we are assuring…[...]
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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 sophisticated and unsophisticated investors. People…[...]
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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 million doing what he was…[...]
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