The Wall Street Journal has adopted the Murdoch brand of "news" reporting and with it, an attack on the basic principles of law that have been in place for hundreds of years. As you can see from the article below they acknowledge that more and more Judges are finding flaws in the foreclosure scheme, but frames it as a question…[...]

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Tags: disclosure, foreclosure defense, foreclosure offense, Lender Liability, lenders, securitization
Posted in bubble, Corruption, Eviction, securities fraud |

"The problem is not that the mortgages are in default. The problem is that the investment banks are in default of their obligations to investors and homeowners. Until Government and the Courts realize this simple fact, they will never untangle the debris caused by the illusion of a crash. If that day ever comes, more than 80% of our problems…[...]

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Tags: AIG, AMbac, CDO, default, delinquency, FGIC, Goldmn Sachs, Janet tavakoli, John Paulson, Paykin Krieg and Adams LLP, Thomas Adams
Posted in bubble, Corruption, Eviction, securities fraud |

Another excellent submission from Allan. Just think where all that money came from for these wild bonuses and that the bonuses represent only 50% of the reported profits from each of the investment banks. Leaving aside all the money that went off-shore, we are still left with a direct correlation between the decrease in the wealth of middle-class homeowners and…[...]

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MBIA V CSFB-DLJ Here you have a lawsuit that corroborates everything we have been telling you on Livinglies PLUS an example of how to use the third party report of an expert in pleadings. The content of the lawsuit is a clear explanation of the securitization process --- the catch is that these are not just allegations --- they are…[...]

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Tags: Credit Suisse, DLJ, FORMS, fraud, insurance, MBIA, plausible deniability, pools, real lender
Posted in bubble, Corruption, Eviction, securities fraud |

MYTH  any imaginary person or thing spoken of as though existing any fictitious story, or unscientific account, theory, belief, etc. Kudos to investigative journalist Kevin Hall with McClatchy Newspapers for inserting himself into the so called "loan modification" process and exposing the farce that is being perpetrated on the American public in the article below. Why is this happening? Pretty simple,…[...]

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Tags: audit, bailout, bankruptcy, borrower, borrowers, Chapter 13, countrywide, credit, credit crisis, depression, disclosure, Eviction, foreclosure defense, foreclosure offense, foreclosures, fraud, housing, Loan Mod, LOAN MODIFICATION, modification, mortgage meltdown, predatory lending, quiet title, rescission, RICO, securitization, TILA audit, trustee
Posted in Uncategorized |

THANK YOU ALLAN AGAIN!!! Submitted on 2009/12/17 at 2:00am Editor's Note: Allan is right about his frustration with a government that is so slow on the draw. Yet if history teaches us anything it is that government, especially our govenment, tends tomove very slowly except for "emergency" situations, when most of the actions are flawed. It would be a good…[...]

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Tags: CDO, Chairman Cox, Chairman Mary Schapiro, collateral managers, collateralized debt obligations, investment banks, meltdown, NPR, Propublica, questionaire, SEC, securities, SIFMA
Posted in bubble, Corruption, Eviction |

 Editor's Note: Nobody wants to hear it. The housing market is dragging the government and the economic future of this country down the drain. For decades the FDIC has followed a model of dismantling failed banks by letting healthy banks take over the assets. Despite the calls from Sheila Bair at FDIC, we are clearly avoiding the model that works.…[...]

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Tags: FDIC, housing prices, mortgage backers, principal reduction, securitization chain, Sheila Bair, TARP
Posted in bubble, Corruption, Eviction |

Hello, good morning Mr. Obama, this your wake up call Popeye, one of my favorite cartoon characters growing up as a a kid, was one of the good guys, but he had his breaking point. The quote at the top seems to pop up in my mind each time I hear stories like  those that follow:   We got a call in our office…[...]

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The outlook is bleak in terms of government providing for the common welfare and common defense. We have a coup d'etat that is a fait accomplit. The job is finished. Wall Street and the insurance companies are running the country. So it is up to us to go with the flow and have them wondering about the old saying "Be…[...]

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Tags: black letter law, Chapter 13, cram down, due process, Eric Holder, regulation, Senate Judiciary Committee
Posted in bubble, Corruption, Eviction |

Submitted on 2009/12/15 at 1:14am IN MEMORIAM — December 13, 2009 Remembering Economist Paul Samuelson By: Murrey Jacobson Update: You can read economics correspondent Paul Solman’s reflections on Samuelson’s life and work here on Making Sen$e. The world lost one of the giants in modern economics Sunday when Nobel laureate Paul Samuelson died at his home in Belmont, Mass., at…[...]

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