Sense on Cents Discovers More Documents Denoting TBTF Damage Awareness During Clinton Era

Posted on April 22, 2014 by Deadly Clear

No President wants the economy to crash on his watch. This is like playing musical chairs or passing the Hot Potato(e) – when the music finally stops who will be taking us down?

Clinton Presidential Documents c.1998: “Who’s on First?”
By Larry Doyle

Every now and then I come across a document or statement that simply stops me in my tracks. In the process of pondering the weight and importance of the embedded message, I am typically left totally aghast.

Today I had one of those experiences as I continued to review the treasure trove of material in the recently released documents from the Clinton Presidential Library. From a document covering the work of the Council of Economic Advisers, I almost spilled my coffee when I read the following: Continue reading →

Only 3 days to destroy the world’s economy. Clinton Presidential Documents on Glass-Steagall Repeal Reveal: No Good Reason For Doing This

Posted on April 21, 2014 by Deadly Clear

By Larry Doyle – Sense on Cents

I do not think there is any single piece of legislation in the last 50 years that has had such a profoundly detrimental impact on the American public than the repeal of the Glass-Steagall Act separating commercial and investment banking.

That repeal is certainly not the sole factor that led to the economic crisis of 2008 and the ongoing pain we experience today, but it was certainly critical to the eventual meltdown. There is no great revelation in that assessment. Continue reading →

Is the Promissory Note Even Enforceable?

Posted on October 5, 2013 by Deadly Clear

When all is said and done the courts come back to the main premise, “Did you pay?”. That is so injudicious on so many levels. The deeper we get into securitization and contract law we soon realize (after dissection) there is one very basic question being ignored – “Is the Promissory Note even enforceable?”

Sheila Bair’s (former FDIC Chairperson) new book, Bull By the Horns, addresses issues that must be taken into careful consideration when considering the validity of foreclosures – and she does it with impressive candor. Sheila separates the MBS into 2 categories: Continue reading →

REMIC Armageddon on the Horizon?

Posted on June 7, 2013 by Deadly Clear

It’s about time somebody recognized it. David Reiss and Brad Bordon posted a dynamic review of the most recent ‘slap down the banks’ cases of Saldivar and Erobobo and the potential impact on the [failed] REMIC tax shelters in REFinBlog.

David Reiss writes: “Brad Borden and I have warned that an unanticipated tax consequence of the sloppy mortgage origination practices that characterized the boom is that MBS pools may fail to qualify as REMICs. This would have massively negative tax consequences for MBS investors and should trigger lawsuits against the professionals who structured these transactions. Courts deciding upstream and downstream cases have not focused on this issue because it is typically not relevant to the dispute between the parties. Continue reading →

Nye Lavelle’s “After The Storm” – Mortgage Fraud Report

Posted on August 19, 2011 by Deadly Clear

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 →