“a ‘thing’ which has no purpose, which is absolutely conceptual and highly theoretical and which nobody knows how to price.” Editor’s Note: Think about it. The foundation of the supply of money that was pressure pumped into our economic housing system resulted in inflation of home appraisals. It was so large that everyone thought the […]

Tags: ABX, appraisers, Fabrice "Fabulous Fab" Tourre, foreclosure sale, free house, Goldman Sachs, Great Depression, Gregory White, rating agencies, Scandals, SEC, Times of London., Tourre, Wall Street
Posted in bubble, 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 |