REGISTER NOW FOR DISCOVERY AND MOTION PRACTICE WORKSHOP MAY 23-24 PRINCIPAL REDUCTION IS A RIGHT NOT A GIFT. IF THE OBLIGATION HAS BEEN PAID BY THIRD PARTIES, THEN THE OBLIGATION HAS ALREADY BEEN REDUCED. THE ONLY FUNCTION REMAINING IS TO DO THE ACCOUNTING. ” There should be no doubt in your mind now that virtually […]

Tags: accounting, allocation of payments, and advances, Bank of America, CALIFORNIA, creditor, delinquency status, discovery, foreclosure suit, foreclosures, Goldman Sachs, Hagens Berman Sobol Shapiro, INVESTORS TAKE NOTE, Notice of Default, Notice of Sale, Obligation, payments, pool, principal reduction, profits, sale to investors, SEC, SPV pools, Steve Berman, TARP, TARP regulations, third party payments, undisclosed fees
Posted in Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

see comp-pr2010-59 SEC Complaint V GS Fraud “The Commission seeks injunctive relief, disgorgement of profits, prejudgment interest and civil penalties from both defendants.” Editor’s Note: Here is where the rubber meets the road. This same pool of illegal fraudulent profit is also subject to being defined as an undisclosed yield spread premium due to the […]

Tags: 10b-5, 15 U.S.C. §77q(a), 15 U.S.C. §78j(b) and Exchange Act Rule 10b-5, 17 C.F.R. §240.10b-5, ABACUS 2007-AC1, ACA, ACA Management LLC ("ACA"), CDO, discovery, Exchange Act Rule 10b-5, Fabrice Tourre, flip book, fraud, Goldman Sachs, HERS, investment banks, marketing material, material misstatements and omissions, offering memorandum, Paulson & Co. Inc. ("Paulson"), portfolio, resecuritized CDO market, residential mortgage-backed securities ("RMBS"), RMBS, SEC, Section 10(b) of the Securities Exchange Act of 1934, Section 17(a) of the Securities Act of 1933, subprime, term sheet, Tourre
Posted in Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

GSAMP 8K INCLUDES SEVERAL SCHEDS AND SWAP INFO FORM 10-D ASSET-BACKED ISSUER GSAMP DISTRIBUTION REPORT for January 29 2008 FORM 10-D ASSET-BACKED ISSUER DISTRIBUTION REPORT for January 29 2008 SEC INDEX OF FILING GSAMP Wells Fargo-Thornburg reconstituted Pooling and Service Agreement Notwithstanding anything herein to the contrary, the Custodian has made no determination and makes […]

Tags: 8-K, as a custodian, as depositor, as securities administrator and as master servicer, as swap provider, as trustee, as underwriter, ASSET-BACKED ISSUER DISTRIBUTION REPORT, cap provider, Confirmation, custodian, Depositor, Deutsche Bank National Trust Company, Goldman, Goldman Sachs, Goldman Sachs Mitsui Marine Derivatives Products, Goldman Sachs Mortgage Company, GS Mortgage Securities Corp, GSAMP, GSAMP Trust 2007-HE2, HERS, ISDA Master Agreement, L.P., LaSalle Bank National Association, Master Agreement, N.A, Pooling and Servicing Agreement, Representations and Warranties Agreement, Sachs & Co., SEC filings, SEC INDEX OF FILING GSAMP, securities administrator, swap, swap provider, U.S. Bank National Association, Underwriting Agreement, Wells Fargo, Wells Fargo Bank
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“We did not service the loan,” Mr. Dale said. “We did not originate the loan, and we were not the financial entity that placed it into foreclosure. Do you understand what a trustee does?” Editor’s Note: Well, Yes Mr. Dale, we do understand what a trustee does and can do —- nothing. So why are […]

Tags: A.F.L.-C.I.O, Alex Samuelson, Americans for Financial Reform, Andy Stern, Aramark, Bank of New York Mellon, Citigroup, conduit, contingent agent, derivatives, disclosure, discovery, Financial Services Roundtable, foreclosures, forensic analysis, Goldman Sachs, Javier Morillo-Alicea, JPMorgan Chase, labor union, Lloyd C. Blankfein, Los Angeles, Louise Story, Minneapolis local, mortgages, New York Times, Occidental College, Peter Dreier, pool of loans, private equity firms, REMIC, research, Richard Alarcón, Richard K. Davis, Richard L. Trumka, S.E.I.U., securitized mortgages, Service Employees International Union, SPV, Steve Bartlett, Steve Dale, STEVEN GREENHOUSE, trustee, U.S. Bank, UNIONS, variable-rate bonds
Posted in bubble, Corruption, Eviction, securities fraud |

The five biggest U.S. commercial banks in the derivatives market — JPMorgan, Goldman Sachs, Bank of America Corp., Citigroup and Wells Fargo & Co. — account for 97 percent of the notional value of derivatives held in the banking industry [$605 trillion], according to the Office of the Comptroller of the Currency. Goldman Sachs Demands […]

Tags: AIG, Alexander Samuelson, Bank of America, BEAR STEARNS, Blankfein, Bloomberg, Brad Hintz, Brian Marchiony, Chistine Harper, Citigroup, collateral arbitrage, Craig Stein, Darrell Duffie, David Viniar, derivatives, Financial Crisis Inquiry Commission, Goldman Sachs, International Swaps and Derivatives Association, ISDA, Jamie Dimon, JPMorgan, Kevin McPartland, Lehman, Michael DuVally, Michael J. Moore, Morgan Stanley, New York Fed report, Paul Hastings Janofsky & Walker, Richard Lindsey, Robert Claasen, Schulte Roth and Zabel LLP, Stanford University, Tabb Group, Wells Fargo
Posted in bubble, Corruption, securities fraud |

This is pretty aggressive and pretty abusive. I don’t know how under GAAP this follows the rules whatsoever,” he said, referring to Generally Accepted Accounting Principles.“That reeks of an auditor who, rather than being really truly independent, is beholden to management,” he said, adding that the S.E.C. and the Justice Department should follow up on […]

Tags: Barclays, Ernst and Young, forensic analysis, forensic auditor training, forensic report, forensic review, gaap, Goldman Sachs, K&L Gates, Lehman, Linklaters, Lynn E. Turner, Michael Missal, New Century Financial Corp, Patricia Hynes, repo, Richard S. Fuld Jr, S.E.C., Valukas, workshop
Posted in bubble, Corruption, Eviction, Modification, securities fraud, Servicer |

Maybe the fact that it came from Goldman will motivate some people to take a second look at where we are on health care. Goldman likes the two biggest health insurance companies because it says profits are going up due to lack of competition and lack of regulation. Like the foreclosure mess, the fact that […]

Tags: bankruptcies, defaults, foreclosures, Goldman Sachs, health insurance, health-care reform, housing prices
Posted in bubble, Corruption, Eviction, securities fraud |

And then there is the main question which everyone on Wall Street is stonewalling: were the obligations created in mortgage origination paid off by government or insurance? To put it another way, were the homeowners already bailed out and don’t know it? Editor’s Comment: Barofsky is like Elizabeth Warren — someone Wall Street doesn’t like, […]

Tags: AIG, bailout, disclosure, foreclosure defense, foreclosure offense, Goldman Sachs, Neil barofsky
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NOW AVAILABLE ON KINDLE/AMAZON! SEE calhoun_testimony LITANY of MORTGAGE LENDING ABUSES AND OTHER BANK ABUSES Admitted by Responsible Lending Association Isn’t it interesting, frustrating, maddening that not only did Wall Street do it to 20 million homeowners in one form or another, they did it to the Federal Government too, which means they spread their […]

Tags: Brazil and China, Concord Coalition, Edmund Andrews, Fed, Glass Steagel, Goldman Sachs, It Takes a Pillage, Michael Calhoun, Nomi Prins, Ny Times, Pimco Group, Responsible Lending, Robert Bixby, teaser rates, William H Gross
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NOW AVAILABLE ON KINDLE/AMAZON Gretchen Gets It. The entire article is worth reading and even studying. If you get what she is saying, you can understand just how false this Waltz has been. “The very design of the federal assistance to A.I.G. was that tens of billions of dollars of government money was funneled inexorably […]

Tags: A.I.G., AIG, American International Group, Barofsky, congress, counterparties, Federal reserve Bank of New York, Federal reserve Baord, Geithner, Goldman Sachs, Merrill Lynch, Societe Generale, TARP, Tavakoli, Troubled Asset Relief Program, Viniar
Posted in bubble, Eviction |