WASHINGTON (MarketWatch) — Former U.S. Treasury Secretary Timothy Geithner might face another “stress test” of his own amid publication of his unflattering portrait of many European financial leaders.

In blunt language largely missing from his memoir, entitled“Stress Test,” Geithner portrayed continental leaders as vindictive, obsessively short-sighted and lacking a coherent policy to stave off a financial crisis that threatened to break the European Union apart, according to documents reviewed by the Financial Times.

Take European Central Bank President Mario Draghi’s famous statement in 2012 that he would do “whatever it takes” to save the EU, such as buying the sovereign bonds of countries like Greece that were under the most pressure. Geithner said he was told by Draghi it was an off-the-cuff remark that he did not discuss with other bank members.

Read on.

Matt Weidner law blog:

New Foreclosure Case

MARK PENNINGTON, Appellant,

v.
OCWEN LOAN SERVICING, LLC, Appellees.

Case No. 1D13-3072.District Court of Appeal of Florida, First District.Opinion filed November 6, 2014.George Gingo and James E. Orth Jr., of Gingo & Orth, P.A., Titusville, for Appellant.

Curtis A. Wilson of McCalla Raymer, LLC, Tampa for Ocwen Loan Servicing, LLC, David D. Rottmann, Jacksonville, for Windsor Falls Condominium Association, Inc., Colleen Colton of Shapiro & Fishman, Boca Raton, Colin Paul-Anthony Blackwood of McGlinchey St, for Appellees.

ON MOTION FOR CLARIFICATION

PER CURIAM.

We grant Appellant’s Motion for Clarification, withdraw our previous opinion filed on September 16, 2014, and substitute the following opinion in its place.

Appellant, Mark Pennington (“Pennington”), appeals the final judgment offoreclosure against him and in favor of Appellee, Ocwen Loan Servicing, LLP (“Ocwen”). Because Ocwen failed to establish its standing to foreclose, or to refute Pennington’s…

For further information please call 954-495-9867 or 520 405-1688

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Many Judges have expressed their concern about the constant movement of servicers and trustees. They are asking why the servicer keeps changing and why the trustees are changing. And now they are asking for legal argument why the substitution of the only named Plaintiff is not an amendment to the Complaint which must specifically allege facts in support of the claim of the “new Plaintiff.” This is a result of the multifaceted fraudulent scheme where claims of securitization are unfounded and claims of debt are fictitious — in derogation of the rights of both investors on Wall Street and borrowers on main Street.

Taking an example from one case being litigated now, we have a fact pattern where WAMU was the “lender” in the purchase money mortgage. Chase steps in and refinances the loan. Long after these events and long…

Here is  the DOJ’s 11-page “Statement of Facts” that accompanied the November 2013 JP Morgan Chase civil settlement. The statement never used former JPMorgan Chase lawyer and whistleblower’s  Alayne Fleischmann name, however, the statement cited the letter she’d written to a bank official. Which is interesting  that statement stated “None of this was disclosed to investors.” From the DOJ statement:

Prior to JPMorgan purchasing the loans, a JPMorgan employee who was involved in this particular loan pool acquisition told an Executive Director in charge of due diligence and a Managing Director in trading that due to their poor quality, the loans should not be purchased and should not be securitized. After the purchase of the loan pools, she submitted a letter memorializing her concerns to another Managing Director, which was distributed to other Managing Directors. JPMorgan nonetheless securitized many of the loans. None of this was disclosed to…

Bill Brennan calls subprime mortgage lending “the biggest type of fraud” he saw in roughly a quarter of a century as director of the Home Defense Program of the Atlanta Legal Aid Society.

To this day, eight years after the foreclosure crisis that plunged the American economy into a deep recession, he said he couldn’t believe that banks would so willingly risk their reputations to loan money to people who would have difficulty paying it back. The predatory lending that contributed to the undoing of the financial system disproportionately targeted black and Latino families and set them up with risky loans. Institutions even convinced minorities firmly in the middle class to take loans with adjustable rates when they qualified for the standard, 30-year fixed mortgage.

Atlanta was one of several cities in the country that took the brunt of the hit caused by the housing crash. According to Brennan, the…

• Barclays PLC
• HSBC Holdings PLC
• Royal Bank of Scotland Group PLC
• UBS AG
• Citigroup
• J.P. Morgan Chase
• Bank of America Corp. Bank of America

Read more from Zerohedge:

By Dwight Haskins..

It is starting to make more sense why I was denied justice when I had a strong case and more than enough evidence to convince any impartial jury. The government could not afford to allow me to have my case heard. Had they done so, my evidence would also have supported the fired examiner at the Federal Reserve Bank of New York with her whistleblowing case. The bank examiner at the Fed, Carmen Segarra, allegedly turned in a negative assessment of Goldman Sachs. When she refused her supervisors’ demands to change the rating assessment, she was escorted out of the building and fired.

The Federal Reserve Bank of New York was able to get the judge to throw out the case for the slightest technical reason — in fact, any independent legal authority will attest that the judge misapplied the law. Judge Ronnie Abrams, an Obama appointee…