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 […]

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

Mortgage Meltdown: Smoke and Mirrors Bailout It is obvious that the “snooty” U.S. bankers, as the Europeans are openly referring to them, still think the world is stupid. The message is out. A massive fraud has ben perpetrated by creation of complex derivative securities that looked better than they were, were rated better than they […]

Tags: bailout, borrowers, lenders, meltdown, Mortgage, securities, tenants
Posted in Corruption, securities fraud |

The big boys were all about stepping up to the plate to hand back some of their hard-earned (make that unearned) profits with a bailout fund. First it was $75 billion, then it was $100 billion, today it is $80 billion and going down because in the final analysis it is once again about smoke […]

Tags: bailout, bank, foreclosures, sub-prime
Posted in Uncategorized |

Well here it is. BOA, JPM et al are getting together a fund to “buy out (i.e.., bailout) the blood soaked securities they have been spewing out into the marketplace for years. They understand the likely response of the public. They understand disaster is just days away and they are actually trying to do something […]

Tags: bailout, banks, crash, credit, economy
Posted in Uncategorized |