By John-Michael Haines
For many Americans, saving money involves depositing part of our paycheck into a bank savings account. Sure, some people stash their cash under the mattress, but most of us are members of a large national bank that we trust to keep our money safe. Continue reading Attorney Matt Weidner shared an excellent post on Nye Lavelle’s “After The Storm” – Mortgage Fraud Report that is well worth reading from cover to cover. In fact – it is a MUST read.
After The Storm – Mortgage Fraud Report–In The Eye Of The Storm
August 19th, 2011 | Author: Matthew D. Weidner, Esq.
Put down Reckle$$ Endangerment, or Exiles in Eden or whatever novel you’re currently reading about the financial armageddon we’re in and click on Nye Lavalle’s After The Storm Report….it’s a gripping encyclopedia with names, dates and serial numbers that document the collapse we’re all still right in the middle of. The only problem is the title…the storm at nearly over. If it seems a little more quiet, that’s just because we’re in the eye of the hurricane. Continue reading
Fannie Mae Pushed Banks to Foreclose
By Todd A. Heywood, Michigan Messenger
17 August 11
Revelations called ‘disgusting,’ but not surprising.
Michigan leaders in the fight against the foreclosure crisis reacted strongly Sunday to revelations that mortgage giant Fannie Mae appears to have been pushing banks to foreclose on homeowners rather than continue negotiating loan modifications. Continue reading
Ian Pajer-Rogers | New Bottom Line, an organizer of the New Bottom Line shared an incredible document today. The Win Win Solution is exactly what we need. Reconstruct the mortgages to the current market value at 2% for 30 years with the homeowners in lieu of litigation! Now is time to take that call to action to our Attorneys General, our Governors and our lawmakers. Continue reading
When women continually walk out of your life it says a lot about your personality. In business it says a lot about the operation of the company. In the Obama administration good women have been bolting since the beginning of his term and a common theme seems to surface:
Ellen Moran, Communications Director.
Ms Moran lasted less than three months in the Obama administration, announcing her sudden departure in April 2009. Some commentators speculated that Ms Moran had had a difficult time breaking into Mr Obama’s tight-knit circle of close advisers – most of whom had worked with the president for many years – making it hard for her to carry out her role.
This Week’s Catch-Up
Posted By DEADLY CLEAR
Huffington Post reported on August 6, 2011: Ex-Obama Adviser Christina Romer Says U.S. ‘Pretty Darn F**ked’
On the same night that Standard and Poor’s downgraded the United States’ top-level credit rating for the first time in history, Christina Romer, former chair of Obama’s Council of Economic Advisers, didn’t mince words when asked of downgrade’s potential consequences.
The U.S. is “pretty darn f**ked,” Romer said during a segment on Real Time with Bill Maher called “How F**ked Are We?”, after Maher asked what the new could mean for the U.S. economy. Continue reading
Last week, undercover, [we] the government bought the servicing rights to 400,000 Bank of America bad loans – quoted as the worst loans and this is just a pittance of what Countrywide and Bank of America wrote during the subprime catastrophe that collapsed the American economy. Apparently, with very little forethought [we] the government agreed to “buy” these servicing rights that will on average cost an additional $10k – $50,000 to service, maintain and/or foreclose. Who was behind this imbalanced deal? Continue reading
There is only one question to ask any politician starting this year:
Will you support the regulation of derivatives?
That’s it. Everything else is ancillary and fades into the background.
Continue readingEditor’s note: Please participate in the Poll at the end of the Post.
The Daily Ticker Reports that last Friday Bank of America received ANOTHER so-called “bailout” using tax payer funds. They never really went away so don’t call it a comeback…but it’s been a big week for bailouts.
Bank of America Corp. has agreed to sell part of its home-loan portfolio to government-controlled housing giant Fannie Mae, as the bank looks to shed assets and pare its exposure to an array of mortgage woes. Rithoitz, Blodget and Task have a lively discussion about the Fannie Continue reading
The Daily Capitalist
Stockman On Budget And Downgrade
By Jeff Harding August 11th, 2011
This is an interview of David Stockman on Bloomberg Radio today by Kathleen Hayes. David goes into the budget crisis and the downgrade. As usual he pulls no punches. “We have a far worse fiscal situation….by 2012, 2013, 2014… the deficit situation is going to be dramatically worse and our ability to cope will be almost non-existent….”
This is an excellent interview on Bloomberg Radio which can be heard Continue reading
Deadly Clear 