Editor’s Comment: Finally! The president has now played out the Geithner-Summers scenario and seen the results — a large middle finger raised in the air from an arrogant bunch of people who are tone deaf to the needs of the nation and the world. This decision brings us into line with the rest of the […]

Tags: bailout, Bank of England, consumer protection, financial regulation, foreclosure defense, foreclosure offense, Geithner, Glass-Steagall, Jackie clames, Louis Uchitelle, mortgage meltdown, Obama, principal reduction, proprietary cuurency, securitization, Summers, Volcker
Posted in bubble, Corruption, Eviction, securities fraud |

OK I’m upping the ante here with some techno-speak. But I’ll try to make it as simple as possible. YIELD is the percentage or dollar return on investment. For example, if you buy a bond for $1,000 and the interest rate is 5%, the yield is 5%. You are expecting to receive $50 per year […]

Tags: appraisal fraud, bailout, credit default swaps, insurance, pool, SIV, TILA, yield, yield spread, yield spread premium
Posted in bubble, Corruption, Eviction, securities fraud |

“Americans must be told the full story of how Wall Street gamed and inflated the housing bubble, made out like bandits, and then left millions of households in ruin. Without that reckoning, there will be no public clamor for serious reform of a financial system that was as cunningly breached as airline security at the […]

Tags: bailout, Citi, Ferdinand Pecora, financial system, Frank Rich, Geithner, Gretchen Morgenstern, housing bubble, Katrina Brooker, Llyod Blankfein, Mortgage, Mother JOnes, New York Times, paul Volcker, Phil Angelides, profits, Rubin, securitization, Summers, Warren Buffett
Posted in bubble, Corruption, Eviction, securities fraud |

No governmental relief is in sight for homeowners except in isolated instances of community action together with publicity from the media. State and federal governments continue to sink deeper into debt, cutting social and necessary services while avoiding the elephant in the living room: the trillions of dollars owed and collectible in taxes, recording fees, […]

Tags: bailout, bankruptcy, borrower, credit crisis, disclosure, Federal reserve, foreclosure defense, foreclosure offense, foreclosures, fraud, Lender Liability, MERS, securitization, TILA
Posted in bubble, Corruption, Eviction, securities fraud |

Remember that $700 billion in TARP? It was dwarfed by other government programs including one from the Federal Reserve. The Federal Reserve went from a non-existent player in the mortgage backed security market a year ago to owning $904 billion of the mortgage backed securities today. But we don’t seem to be getting or seeing […]

Tags: bailout, borrowers, Federal reserve, foreclosure defense, foreclosure offense, lenders, mortgage meltdown, quiet title, securitization
Posted in bubble, Corruption, Eviction, securities fraud |

“I don’t sleep at night, I don’t sleep at all,” he said, rising slowly. “I tell Maria, ‘If we lose the house, I want to stop my dialysis.’ I want to die, honestly.” Editor’s Note: The sad simple truth is that there are few options besides fighting this out in the courts. The simple concept […]

Tags: bailout, borrower, depression, disclosure, foreclosure defense, fraud
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. […]

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 |

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 |

And probably people “of the cloth” from all denominations. We are a nation of faith. Jesus angrily drove the money lenders out of the temple. How can we stand by and allow the borrowers to be driven out of their homes? The fact is most of these victims were hunted down like a foxhunt, with […]

Tags: Apostle Garay, bailout, Bank of America, borrower, countrywide, disclosure, Florida, foreclosure defense, foreclosure offense, Jacobson, mortgage brokers, mortgage meltdown, securitization, subprime loans, The Atlantic
Posted in bubble, Corruption, Eviction, securities fraud |

TENT CITY, California While Vacant Houses Deteriorate From watergatesummer.blogspot.com we have this post on the moronic ideology that misuses our natural and creative resources. It can be said that conservatives do not conserve and liberals do not liberate. I coined that because it is obvious that politics in this country is degrading even while some […]

Tags: bailout, housing, lender, POLICY, securitization, tent city
Posted in Corruption, Eviction, securities fraud |