The bottom line is that regardless of who steps into the oval office next January, nothing will actually change unless the dynamics of political participation by U.S. Citizens changes. It isn’t enough to vote. It isn’t wise to trust any leader to do the right thing. And it isn’t wise to trust that once a policy or program has been…[...]

Continue Reading

Tags: Clinton, Conservative, Liberal, McCain, Mellon, Obama, Treasury
Posted in bubble, Eviction |

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 and the CDO/CMO market were…[...]

Continue Reading

Tags: Federal reserve, junk, Lehman, Ponzi, Wall Street Journal, WSJ Freedom
Posted in bubble, Corruption, securities fraud |

I doubt that anyone is oging to let the lenders off the hook. I also doubt that regulation changes will be timely. I think ther eason we look to third party libaility is two-fold: Better to have defendants pointing the finger at each other than at the Plaintiff Better to awaken these third parties that the financial institutions are not…[...]

Continue Reading

Posted in bubble, Eviction |

Gambling establishments know it, amusement parks know it, retailers know it --- anything that separates your perception of spending your own money from the reality results in your spending more. And in the case of the American consumer, we are spending consistently more than we earn and more than we could ever pay back.    We are all participating in…[...]

Continue Reading

Tags: cash, credit cards, debit cards, home equity, Mortgage, personal finance
Posted in Eviction |

IN THIS STORY FROM THE WALL STREET JOURNAL, IT IS CLEAR THAT FLOUNDERING FEDERAL POLICY-MAKERS ARE AVOIDING THE ESSENTIAL ISSUE --- WE HAVE TRILLIONS OF "DOLLARS" OF DERIVATIVES OUT THERE THAT ARE HUGELY OVERVALUED BECAUSE OF FRAUDULENT APPRAISALS SUPPORTING THE APPEARANCE OF A RISING HOUSING MARKET. And now many other securities and loan arrangements are endangered that have at least…[...]

Continue Reading

Tags: Barney Frank, derivatives, Federal reserve, recession, Treasury
Posted in bubble, Corruption, Eviction |

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 out their borrowing on their…[...]

Continue Reading

Tags: Asian inflation, credit cards, credit crisis, dollar, euro, innovation, recession, Rothbard, Von Mises
Posted in bubble, Corruption, Eviction, securities fraud |

I have two answers for you on the question of fairness. 1. How fair is it, after you have saved and conducted yourself properly and with financial savvy, to see the value of your investment steeply decline as a result of some game Wall Street was playing with the banks? How fair is it that the houses in your enighborhood…[...]

Continue Reading

Tags: appraisals, disclosure, kickbacks, rebates, risk
Posted in bubble, Corruption, Eviction |

  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 and the rapacious borrowers have…[...]

Continue Reading

Tags: internal revenue service, liar loans, verification of income
Posted in bubble, Corruption, Eviction, securities fraud |

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 program will save their balance…[...]

Continue Reading

Tags: Barney Frank, Pelosi, proposal, solution
Posted in bubble, Eviction, securities fraud |

  Mortgage Meltdown Consequences --- New Money, Old Money and New Dynamics ---  Cashless ATM, “second chance bank accounts” and other services auger well for Small Banks and Credit Unions.   The simple fact is that there isn’t any small bank who can’t provide the same services to any type of customers that a large one can. And if States…[...]

Continue Reading

Tags: ATM, Bureau of Engraving and Printing, Cashless ATM, community banks, financial institutions, Pointof Banking, Scrip, Second chance checking, unbanked
Posted in bubble |