The IndyMac Whodunit Blame Game – former CEO blogs his rationalization

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Financial Finger-Pointing Turns to Regulators 
By  and Published: November 22, 2011

Putting the spotlight on former IndyMac CEO, Micheal Perry, who recently set-up a self-serving blog to try and achieve a sympathetic audience for the justification of the demise of his company and the charges brought by the SEC. The NY Times writes:

“In the whodunit of the financial crisis, Wall Street executives have pointed the blame at all kinds of parties — consumers who lied on their mortgage applications, investors who demanded access to risky mortgage bonds, and policy makers who kept interest rates low and failed to predict a housing market collapse.

But a new defense has been mounted by a bank executive: my regulator told me to do it.

This unusual rationale is presented by the bank Continue reading →

REO Buyer Beware: Who Owns Your Home?

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BRAVO! Landmark Media Enterprises LLC’s KLAS-TV 8 News NOW in Las Vegas, NV aired a compelling and informative BUYER BEWARE news story this week exposing the massive REO bank fraud found throughout Nevada, including the home of the very news anchor reporting the story. “If the house you bought was ever in foreclosure there’s a strong chance you have a problem,” said anchor George Knapp.

For the complete video news story click here.
The foreclosure crisis has several causes, but government investigators now believe that  Continue reading →

Governor Abercrombie – “Do Not Let the AG Sign The Multi State Bank Settlement”

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PLEASE SIGN THE PETITION HERE

To be delivered to: The Hawaii State House, The Hawaii State Senate and Governor Neil Abercrombie

The public deserves to know the whole truth about the banking Ponzi scheme that is taking us to the brink of a World Wide Great Depression.

Aloha AG of Hawaii –

We need a more comprehensive investigation before the financial institutions at the heart of the crisis are granted broad releases from liability… PLEASE SIGN THE PETITION HERE

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STOP Justice Department officials – Sign Resolution Against Wall Street Immunity

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Top Justice Department officials are pushing hard to bring the Wall Street immunity deal back from the dead. Can you sign on as a citizen signer of Baldwin’s resolution against Wall Street immunity? Click here to sign.

Fortunately, Rep. Tammy Baldwin (D-Wisconsin) leaped into action with a congressional resolution opposing Wall Street immunity.

Within days, 27 of her colleagues signed on — and the more co-sponsors we get, the more pressure the Justice Department will feel to back off.

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“The REMICs have failed! “The REMICs have failed!”

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If Paul Revere were alive today he would be riding through the town warning “The REMICs have failed!” However, the government these days would go, “Shhhhhh!”

Most average homeowners have no idea what a REMIC is – actually most attorneys have no clue …. so, you know many of the Judges are completely in the dark.  REMICs are a form of IRS tax shelter sold to investors as part of the mortgage-backed securities package (Real Estate Mortgage Investment Conduit (“REMIC”) pursuant to I.R.C. §§860A-G).

The documents that killed the REMICs may actually help save your home. Continue reading →

Credit Default Swaps: The Insane Problem and the Radical but Sane Solution

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With nearly 4 solid years of foreclosure injustice spewing from the courts and millions of homeowners continuously getting skunked, it has become a necessity to figure some way to explain to even the brightest (judge) on the bench the answer to, “[D]id you pay?” 

It doesn’t matter what state (although some are a lot worse than others) or what faction of the judiciary, state, federal, bankruptcy, appellate – the question they always ask, “[D]id you pay?”  We’ve all heard the standard answers:

  • “I don’t know who to pay…”
  • “I owe someone, but it’s not these guys…”
  • “I lost my job, but I can pay now and they won’t take my money…”
  • “All I need is a little reduction in my monthly payment…”

The list goes on – but the real answer if there is a trust involved might be, “Well, your honor, I don’t think I’m in default.” And of course the judge is going to say, “why is that – did you pay?” And the likely response might be, “your honor, there’s these things called Credit Default Swaps and my note is Continue reading →

Ratigan on Delaware Fights MERS® – “even where Washington has failed to do so”

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Delaware AG Beau Biden: Fighting Fraudclosure
October 28, 2011

Dylan Ratigan has been a powerful journalist in the investigative media exposing the frauds and government mismanagement of the Wall Street Ponzi scheme that lead to the worldwide financial collapse. Delaware AG Beau Biden is the most recent of attorneys general to file a lawsuit on behalf of the homeowners in Massachusetts against MERSCORP, Inc.  Ratigan’s interview with AG Biden identifies the significant issues that ALL attorneys general (including Hawaii) should be considering.

CLICK HERE for the interview.

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COMPLAINT | STATE OF DELAWARE v. MERSCORP INC. Go Go Beau!

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As most of us are aware – it’s about time that MERSCORP, Inc. became the thrust of the AG’s investigations. It’s also about time that JUDGES started reading up on the lawsuits against MERSCORP, Inc. and it’s “straw man” empty shell entity Mortgage Electronic Registration Systems, Inc. and quit giving them a free ride. STOP making BAD law thinking you are protecting your pension and retirement funds – THEY ARE GONE!

Complaint | State of Delaware v. MERSCORP Inc

RACHEL MADDOW | BEAU BIDEN ON MERS AND

ACCOUNTABILITY OF MORTGAGE MALFEASANCE

If there is one MUST WATCH interview for all Legislators, lawyers and JUDGES – it’s the MADDOW – BIDEN interview on MERSCORP, Inc. CLICK HERE and pass it along to your friends on the judiciary committees and the Judges on the bench.
Continue reading →

Joe Biden “Gets It” – “God-awful Ponzi schemes” that Wall Street engaged in

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Biden: Because of Bush Administration and Wall Street ‘People Died’ and ‘Homes Burned’

October 19, 2011

(CNSNews.com) – Vice President Joe Biden said Wednesday that “people died” and “people’s homes burned to the ground,” because the Bush administration allowed “God-awful Ponzi schemes” on Wall Street.

Speaking at a rally to promote a piecemeal provision of President Obama’s jobs proposal, Biden told police and firefighters that the budget shortfalls of state and local governments were not attributable to state and local governments.

“Those of you know it’s not really the fault of your mayor or your government,” the vice Continue reading →

CEO Patrick Byrne – ‘Occupy Wall Street,’ is right on the money

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The RAW Story:  Libertarian Overstock.com CEO supports ‘Occupy Wall Street’
By Eric W. Dolan
Wednesday, October 19, 2011

Editors’ note:  Patrick Byrne expresses the way a lot of folks feel – we should add him to our Super Hero list. 

Patrick Byrne, the CEO of Overstock.com, talked to The Young Turks host Cenk Uygur on Tuesday night at the “Occupy Wall Street” demonstration in New York City’s Zuccotti Park. He described himself as a libertarian who was fond of the economic ideas of Milton Friedman.

“I think there’s a difference between Wall Street and capitalism,” Byrne said. “I’m good with capitalism. I have a lot of trouble with Wall Street.”

He added that Wall Street had has Washington, D.C. “by the throat” and Continue reading →