The value added tax (VAT) has been around for decades in other countries. It is predicated on the  idea that ALL people should share in the cost of government. The way it works (see below) is that the government picks up 10% (for example) of each stepof the production and sales process. It is normally […]

Tags: aggregator pool, fraud, income taxes, mortgage bonds, Selling Agent, shell game, SPV, SPV pool, trust, VAT, Wall Street, Yielde Spread Premium, YSP
Posted in bubble, Corruption, Eviction |

Thank You ABBY! This post is from Abby. You can catch her email in comments where she originally posted. Just one word of caution: Just because the Trustee or officer of the SPV pool claims to have your loan doesn’t mean they really do. In fact they may only have a spreadsheet with no documentation, […]

Tags: AGGREGATOR, allonge, assignment, Chase, CIK number, COK, DEED OF TRUST, fwp, JP Morgan Acquisition Corp, JPMAC, MERS, mortgage backed bonds, officer, original note, pool, pooling and service agreement, Power of Attorney, PSA, SEC, SPV, trust, trustee, WAMU, Washington Mutual
Posted in bubble, Corruption, Eviction, securities fraud |

I think Bob Herbert of the NY Times wrote today what will be eventually seen as the most important article on the financial crisis. We’ve seen it before — the children of the great depression, children of the holocaust, returning veterans from WWI, WWII, Korea, Vietnam, Iraq, Afghanistan. Now it’s the financial meltdown.We ignore it […]

Tags: children of the financial holocaust, education, financial crisis, home, hope, household, parents, trust, unemployment
Posted in bubble, Corruption, Eviction, securities fraud |

It’s along time since I wrote this piece on March 1, 2007 — before I even started the blog. I believed then as I do now that the safety of our nation, the soundness of our economy and the happiness and freedoms of our children and grandchildren depend entirely upon our actions today. In this […]

Tags: borrowers, credit crisis, investors, mortgage backed securities, MORTGAGE WORKOUTS, trust, TRUTH
Posted in bubble, Eviction |

Another casualty of the Mortgage Meltdown induced paranoia that is sweeping the credit and money markets: Banks no longer trust the indexes which they have relied upon for decades. In other words, they don’t trust each other. And they don’t trust the people who report on what is happening out in the financial marketplace. The […]

Tags: confidence, credit, index, Libor, reports, trust
Posted in bubble, Eviction |

Bear Stearns Deal and What it Means In the absence of someone filing the leadership vacuum now, we must use the rules of civil procedure to slow down the foreclosures, evictions and bankruptcies. We need breathing room if we are to avoid a depression, or if one is coming anyway, to at least keep it […]

Tags: BEAR STEARNS, Buffett, confidence, depression, Federal reserve, J Pierpont Morgan, JP Morgan, leadership, respect, trust
Posted in bubble, Corruption, Eviction, securities fraud |