A Call to Action – Geithner Must Go!

Posted on August 13, 2011 by Deadly Clear

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 →

Behind the Scenes: Bank of America – Another Bailout!

Posted on August 12, 2011 by Deadly Clear

Editor’s note: Please participate in the Poll at the end of the Post.

“Robin Hood in Reverse”: Bank Bailout Bonanza Heats Up (Again)

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 →

RSN Update – Obama Bows to Pressure, Passes Over Warren

Posted on July 17, 2011 by Deadly Clear

DEADLY CLEAR – THIS MAKES ME SICK!

Elizabeth Warren will not lead the agency she envisioned, The Consumer Financial Protection Bureau. (photo: Mary F. Calvert/NYT/Redux)

Obama Bows to Pressure, Passes Over Warren
By Jim Kuhnhenn, Associated Press
17 July 11

Obama picks former Ohio AG Cordray to lead consumer agency; GOP set to oppose.
Reigniting a partisan fight over banking regulations, President Barack Obama intends to nominate former Ohio Attorney General Richard Cordray to lead a consumer protection bureau that was a central feature of a law overhauling the rules that govern the financial sector.

Obama plans to announce the nomination formally on Monday, the White House said Sunday. Republicans immediately threatened to block Cordray’s Senate confirmation.

In choosing Cordray, Obama bypassed Elizabeth Warren, a favorite of consumer groups, who has been assembling the agency as a special adviser to the White House and to Treasury Secretary Timothy Geithner. [MORE]

Elizabeth Warren Rap Video – Got A New Sheriff

Posted on July 16, 2011 by Deadly Clear

Elizabeth Warren Rap Video- Got A New Sheriff

Ten months ago a brilliant group of creative individuals realized that the role Elizabeth Warren was meant to handle would be directly opposed to “Wall Street’s business as usual.” It’s very unsettling that President Obama is currently in these debt negotiations with Geithner on his shoulder and all of a sudden Elizabeth Warren is ousted from the circle of consideration to head up the Bureau of Consumer Financial Protection. Especially after she came out on Friday and stated that the investigations into the bankster foreclosure fraud was not sufficient.

Does President Obama really think America is that dumb? Continue reading →

RSN Elizabeth Warren: A Real Probe Needed on Foreclosure Abuses

Posted on July 15, 2011 by Deadly Clear

Readers Support Network – Amen!

Elizabeth Warren: A Real Probe Needed on Foreclosure Abuses
By Shahien Nasiripour, Huffington Post

15 July 11

A top Obama administration official on Thursday questioned the scope of the state and federal investigations into alleged mortgage abuses and “illegal” foreclosures perpetrated by the nation’s largest mortgage companies, marking the first time a senior White House official publicly broke ranks with the administration over the issue and raising fresh questions about the wisdom of the government’s rush to settle with the firms.

Elizabeth Warren, a senior adviser to President Barack Obama and Treasury Secretary Timothy Geithner, told a congressional panel that government agencies may not have sufficiently investigated claims that borrowers’ homes were illegally seized by banks such as JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and Ally Financial. Continue reading →