An ‘Extremist’ in the United States

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An Excellent Re-post from Nation of Change.

RobertJensenI am a mild-mannered (a polite term for “boring”) white Christian man, born and raised in North Dakota, a U.S. state known for being mild-mannered. I teach university courses on freedom of expression and the role of journalism in a democratic society, concepts I take seriously. I also take seriously my obligation as a citizen to participate in conversations about public policy, but I avoid shouting. And I don’t own any weapons.

But beware—I am an extremist.

I am not extreme in the way that U.S. politicians and pundits typically throw the term around these days. I don’t advocate violence to establish a theocracy (whether Christian, Continue reading →

When Santa Was a Bank

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That’s probably where the naughty and nice list got started!

justiceleague00's avatarJustice League

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It’s bonus season, and while many in the junk bond market should expect coal in their stocking, the rest of Wall Street remains hopeful that Santa Claus remembers them this year. Given the Fed’s rate hike, though, more than a few financiers are losing faith.

It would help, perhaps, if Wall Street had a direct line to Santa Claus. Once upon a time, it did. For much of the 19th century, Santa Claus had a branch office at No. 12 Wall Street. This was the “Saint Nicholas Bank,” established in 1853 and capitalized at $500,000.

The origins of the Saint Nicholas Bank are a bit murky. Aside from the fact that it built a safe that Bankers’ Magazine described in 1854 as “the largest in the United States, if not the world,” the new institution attracted very little notice.

At this time, state-chartered banks in the United States issued their…

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Paatalo Article Reveals Exact Money Trail and the Absence of Phantom/Pretender Lenders

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What attorneys and judges need to recognize is that securitization begins with the Fannie patented 1003 loan application. Collateral was solicited and procured to fill pre-existing contracts and agreements that the banks already had in place and operating BEFORE the borrower signed the faux mortgage and note documents.

The homeowner unwittingly participated in a securities transaction. Without his collateral the entire transaction could never have been completed.

The incredible people that found the patents in the last decade knew that the securitization system was pre-existing BEFORE signatures ever hit the page.

Paul Krugman: ‘The Big Short,’ Housing Bubbles and Retold Lies – The New York Times

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Alina's avatarAlina's Blog

In May 2009 Congress created a special commission to examine the causes of the financial crisis. The idea was to emulate the celebrated Pecora Commission of the 1930s, which used careful historical analysis to help craft regulations that gave America two generations of financial stability.

But some members of the new commission had a different goal. George Santayana famously remarked that “those who cannot remember the past are condemned to repeat it.” What he didn’t point out was that some people want to repeat the past — and that such people have an interest in making sure that we don’t remember what happened, or that we remember it wrong.

Read More: ‘The Big Short,’ Housing Bubbles and Retold Lies – The New York Times

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