Paulson’s comments yesterday were inappropriate. He just doesn’t get it. He is arguing for hitting the iceberg and then let the deadly water take care of the problem. The ship is the American economy. And the waters are a legal system that assumes, all things being equal, that the process of foreclosure, eviction and losses on CDO investments will eventually…[...]

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Tags: attorney general, bailout, congress, judicial system, mediation, Paulson, States
Posted in Corruption, Eviction, securities fraud |

Mortgage Meltdown Remedial Legislation Barney Frank has a good idea that will work. Mortgage notes must be reduced without penalty to borrowers, and of course continue the tax exemption for short sale. Cooperation will be needed by FDIC, Federal Reserve, SEC, FASB, IRS, Controller of Currency and Treasury Department. I would add the following AFTER reducing the mortgage by a flat percentage…[...]

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Tags: Barney Frank, credit cards, liquidity, Mortgage, payday loans, regulation, write-down
Posted in bubble, Eviction, securities fraud |

Back from a cross country trip for 6 weeks accumulating data "on the ground." I am have discovered that the ripple effects of the economic mismanagement, the mortgage meltdown, the credit crisis, the housing crash, and many other factors are playing havoc not only with our current status but with our prospects. These are the things that the next President…[...]

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Tags: commodities, currency, economics, political backlash, recession
Posted in Eviction, securities fraud |

Events today lead me to say that the risk in holding "safe" AAA government or corporate bonds is far higher than they are priced. This does not mean that there will actually be defaults. But my analysis indicates that, at a minimum, several municipalities and corporations will default on their bonds this year and next year. How bad the situation will actually…[...]

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Tags: Buffet, hedge, municipal bonds, security
Posted in bubble, Eviction, securities fraud, Uncategorized |

Perusing Credit Suisse's latest proposal on Capital Hill, which expands Federal guarantees on mortgages, there is good news and bad news. Good that the severity of the problem is becoming more apparent to those with their fingers on the levers of power. Good also that Credit Suisse, while obviously seeking to protect itself, has at least addressed the issue of…[...]

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Tags: borrowers, Credit Suisse, defaults, Mortgage
Posted in bubble, Corruption |

Paulson's announcement is really only a re-hash of prior "hope" and other plans. The important thing is that government and private sector are talking and starting to work together. We can only hope that they finally get down to business before the 30 day voluntary freeze is over and that the project, which is based upon voluntary compliance, will do…[...]

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Tags: due process, municipal bonds, Project Lifeline, taxes
Posted in bubble, Corruption, Eviction, securities fraud |

It is as though everyone has their head stuck in the ground, which is the most polite way of putting it. Look at the figures coming out --- even PRIME borrowers are going delinquent. Lenders are struggling to regain capital requirements for lending, The Federal Reserve is essentially having no effect on the downslide, retail spending is at a forty…[...]

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Tags: credit, currency, dollar, foreclosure, loans
Posted in bubble, Corruption, Eviction, securities fraud |

The bottom line is that the Federal reserve is fast becoming irrelevant for reasons described below (and foecasted by Alan Greenspan in 1996), proprietary currencies already out number fiat currencies worldwide, and a return to local government chartered bank currencies and other trusted issuers is probably the only way we can restore order to the markets. Holding onto the current…[...]

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Tags: debt, derivatives, dollar, equities, Federal reserve, money, States
Posted in bubble, Eviction, securities fraud |

While we are completing publication of our series of Handbooks for borrowers, lenders and lawyers, we are receiving many emails from people who are in the midst of complicated litigation or threat of litigation from their lenders. Just remember the 80-20 rule: 80% of the people out there who offer you help at any price (including free consumer advocate groups)…[...]

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Posted in Uncategorized |

Several pilots around the country involving tens of thousands of students point strongly to a solution for education that is fiscally possible and could catapult this nation back into the forefront of innovation and education. It also presents a major opportunity for local American businesses to get involved in their communities, expand their revenues, increase their profits and boost employee…[...]

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Tags: bank, credit union, education, marketing, online, public finance, schools, social benefits, teaching
Posted in bubble, Uncategorized |