Government officials, perhaps influenced by spending too much time with bankers, forgot that if you want to govern effectively you have retain the trust of the people. And by treating the financial industry — which got us into this mess in the first place — with kid gloves, they have squandered that trust. During the […]

Tags: AIG, bailout, disclosure, Federal reserve, foreclosure defense, foreclosure offense, illusion of financial soundness, Krugman, mortgage meltdown, Ny Times, securitization
Posted in bubble, Corruption, Eviction, securities fraud |

NOW AVAILABLE on KINDLE/AMAZON The Emperor\’s New Clothes: THOSE FORECLOSURES ARE NOT REAL FOLKS, GET IT? 1-in-10-u-s-mortgage-delinquencies-reach-a-record-high-going-up The Emperor is still strutting around as though he was fully clothed in the best silk, color and design. Wall Street is still the darling of government and a whole lot of other people, even if it was […]

Tags: AIG, bankruptcy, credit default swaps, emperor's new clothes, foreclosures, investors, lending, mortgage modification, mortgage pools, mortgages, settlement, short sales, source of funding, taxation, Wall Street
Posted in bubble, Corruption, Eviction, securities fraud |

Editor’s Note: In this article you have the nub of the problem for the investors, for the foreclosers, for the pretender lenders. What did the taxpayer actually pay for and what did they get for it? And if the money all went to pay off credit default swaps at 100 cents on the dollar then […]

Tags: AIG, audit, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Geitner, Lender Liability, mortgage meltdown, NY Fed, securitization
Posted in bubble, Corruption, Eviction, securities fraud |

Editor’s Note: OK if you exclude that small matter of a $182 billion dollar loss, they made a profit. Other than that Mrs. Lincoln, how did you like the play? It is absurd to allow this kind of reporting. Ever since they started monkeying around with reporting standards in the 1960’s, things like this have […]

Tags: AIG, American International Group, bailout, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, securitization, trustee
Posted in bubble, Corruption, Eviction, securities fraud |

While my editorial opinion has been fairly obvious in these articles, I feel the need to express them directly. The fundamental truth that is missed in the media and those in government and finance close to the microphones is that this did not start with the borrowers — it started with the investors who bought […]

Tags: AIG, AMbac, bailout, borrowers, foreclosure defense, foreclosure offense, investors, POLICY
Posted in Eviction |