“This will go on for a long time and a lot of people will be indicted,” “The government continues to show that it simply doesn’t understand how this market operated,” Editor’s Note: If you read this carefully, you get a flavor of how the derivative scam adventure involved everyone except its victims. Mind you, there […]

Tags: amnesty agreement, Andrew Young School of Policy Studies at Georgia State University, Baltimore lawsuit, Bank of America, Bank of America’s municipal derivatives division, Bartley Hildreth, BLOOMBERG NEWS, CDR, CDR Financial Products Inc., Charlie Anderson, Citigroup Inc, co- conspirators., courtesy bids, David Rubin, Dean Pinard, derivatives, Deutsche Bank AG, Dexia SA, Dominick Carollo, Doug Davis, Eden Prairie, Evan Zarefsky, Federal Bureau of Investigation, FGIC, FGIC Capital Market Services, Financial Industry Regulatory Authority, Financial Security Assurance, Finra, funnel, futures, GE, General Electric Co., GICs, Grant Whitaker, Gruer, guaranteed investment contracts, HERS, Hildreth, Image, Image at Sparks Steak House, indictment, Investment Management Advisory Group Inc., Johan Rosenberg, John Siffert, JPMorgan, Justice Department, Kevin Foster, kickbacks, Laura Hoguet, Lehman Brothers, Loughead, Mark Manchin, Martin Z. Braun, Merrill Lynch & Co., municipal, opaque debt investments, Options, Peter Grimm, Peter Loughhead, Phil Murphy, Pinard, PMI Group Inc., regulators, Robert Jones, Royal Bank of Canada, Rubin, Sam Gruer, Securities and Exchange Commission, sewer authority, Shirley Norton, Sound Capital, Sound Capital Management, Stallone, Steven Goldberg, swaps, U.S. District Court in Manhattan, UBS, Wachovia Corp, West Virginia, West Virginia School Building Authority, William Selway, Wolmark, Zarefsky, Zevi Wolmark
Posted in bubble, Corruption, expert witness, foreclosure mill, securities fraud |

IT ALL COMES DOWN TO THIS: LENDERS DIDN’T CARE ABOUT THE QUALITY OF THE LOAN OR THE IMPACT ON BORROWERS OR INVESTORS (INCLUDING THEIR OWN SHAREHOLDERS). THEY WERE PREPARED TO FALSIFY ANYTHING AND USE ANY MISREPRESENTATION OR PRESSURE TACTIC THEY COULD TO GET THE LOAN SOLD AND THE BORROWER TO SIGN. THEY PRETENDED THEY HAD […]

Tags: AMbac, countrywide, foreclosure defense, GE, General Electric, lender fraud, Lender Liability, lender misrepresentation, MBIA, mortgage meltdown lawsuits, New Century Financial Corp, PMI Group, Redwood Trust, RESPA, TILA audit, WMC Mortgage
Posted in bubble, Corruption, Eviction, securities fraud |

It might just be that “free market” forces are going to change the landscape forever. What if other Fortune 500 companies involved in consumer finance, electronic funds transfer, insurance and foreign exchange decide that this huge credibility gap opens the door for their own entry into the market. McDonald’s once was surveyed as a brand […]

Tags: Auction, Cuomo, GE, Investigation, McDonald's, rates
Posted in bubble, Eviction |