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 |

Phil Angelides, the former state treasurer of California who is the commission’s chairman, told Mr. Blankfein “it sounds more like you were selling cars with faulty brakes and then buying insurance on the driver.” Mr. Angelides, who lost the governor’s race in California to Gov. Arnold Schwarzenegger in 2006, pointedly compared some Wall Street chief […]

Tags: Amnesty for Everyone, Bank of America, Blankfein, Brian Moynihan, FCIC, Financial Crisis Inquiry Commission, Jamie Dimon, John Mack, KKenneth Lewis, Mark Leibovich, New York Times, Phil Angelides, principal reduction
Posted in bubble, Corruption, Eviction, securities fraud |

Editor’s Comment: Any lawyer who does not think that issues relating to foreclosure will not dominate his or her practice of law is in a state of denial and delusion. The 16% drop in new home-sale contracts (see article below) means a similar or worse drop in sales over the next 30-60 days. As we […]

Tags: ARIZONA, creditors, deficiency, FICO, home values, homeowner, inflated mortgages, lenders, mortgage modification, National Assocation of Realtors, principal reduction, short sales
Posted in bubble, Corruption, Eviction, securities fraud |

 Editor’s Note: Nobody wants to hear it. The housing market is dragging the government and the economic future of this country down the drain. For decades the FDIC has followed a model of dismantling failed banks by letting healthy banks take over the assets. Despite the calls from Sheila Bair at FDIC, we are clearly […]

Tags: FDIC, housing prices, mortgage backers, principal reduction, securitization chain, Sheila Bair, TARP
Posted in bubble, Corruption, Eviction |

Sheila Bair has finally let the trial balloon out of the bag. Just watch what Wall Street does to position Bair as some kind of kook. In truth, she ought to be running the financial part of this recovery although the FDIC is supposed to insure deposits, not necessarily write offs of bad loans. Bottomline, […]

Tags: Amnesty for Everyone, borrwers, FDIC, lenders, losses, modification, principal reduction, recovery, seized banks, settlement, Sheila Bair
Posted in bubble, Corruption, Eviction, securities fraud |