“The Justice Department claims that the faulty projections were not simply naïveté, but rather a deliberate effort to produce inflated, fraudulent ratings. “The complaint asserts that S.& P. staff chose not to update computer programs because the changes would have led to harsher ratings, and a potential loss of business,” (e.s.) “I was there. It […]

Tags: AGGREGATOR, Ben Bernanke, financial analysis, Fitch, Hank Paulson, MasterCard, nominees, Ponzi, rating agencies, REMIC, S&P, securities analysis, securitization, SWIFT, trustee, Visa
Posted in bubble, Corruption, Eviction, securities fraud |

Banks have adopted a technology platform to process short sale applications. It is called Equator, presumably to imply that it equates one thing with another, and produces a result that either gives a pass or fail to the application. In theory it is a good thing for those people who want to save their homes, […]

Tags: assignment, Bank of America, Bank of America Short Sale Addendum, BOA, borrower, Buyer's Acknowledgment and Disclosure, chain of title, closed loans, closing papers, county recorder, credit bid, dummy originators, Equator, Equator Short Sale Platform, fund the trust, GMAC, HUD-1, investment bank, investor-lenders, IRS, IRS Form 4506-T, Lender Liability, loss mitigation, MasterCard, MERS, Mortgage, mortgages, Nationstar, offer of proof, owner of the obligation, payment processing, principal reduction, Purchase Contract, realtors, REMIC, requirement of proof, right to foreclose, securitization chain, securitization claims, Service One, short sale applications, third party authorization form, title companies, title defect, title problem, transfer, trust, unfunded trust, Visa, Wells Fargo
Posted in Uncategorized |

SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM BANKS LAUNCH NATIONWIDE PRESS FOR CONTROL Editor’s Analysis: Once upon a time, the Banks were content to make an ordinary profit doing ordinary banking things. Now they see us as prey rather than customers to be protected under their risk-averse general policy. Their current policy to to take your […]

Tags: Bank Lobbyists, Business News, Debit Card Interchange Fees, Debit Card Swipe Fees, Dick Durbin, Duopoly, MasterCard, Middle Class, Non Competitive Prices, Visa, Wall Street Banks, Wall Street Bonuses, Wall Street Reform Law, War On The Middle Class, Warren
Posted in bubble, Corruption, Eviction, securities fraud |

The break-up of the big banks combined with strengthening the community banks and credit union would create something much closer to a free market of 7,000 institutions than 4 institutions controlling the world’s currency. Since the 1960’s the banking industry has been dominated by two main tiers of banking — the founding members of “associations” […]

Tags: antitrust, community banks, credit unions, EFT, loan syndication, MasterCard, networks, Visa
Posted in bubble, Corruption, Eviction, securities fraud |

It is startling to see how little anyone knows about the mess we are in. First they don’t understand how bad this is going to get. Second they don’t understand how it happened because they don’t understand the financial system. And third, they have no clue how to prevent this from happening again. They don’t […]

Tags: borrower, disclosure, insurers, lender, MasterCard, plausible deniability, rating agencies, Visa
Posted in bubble, Corruption, Eviction, securities fraud |