Tag Archives: NakedCapitalism

THE END OF POPULAR SOVEREIGNTY FOR THE UNITED STATES

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NakedCapitalism posted a stunning article today by By Lambert Strether of Corrente. 

TPP genieTHE TPP, IF PASSED, SPELLS THE END OF POPULAR SOVEREIGNTY FOR THE UNITED STATES

You’ve heard of popular sovereignty, right? It’s embodied in the Preamble of the United States Constitution.[1] I’ll quote it for the sheer majesty of the language, archaic though it may seem in these “innovative” days:

We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity, do ordain and establish this Constitution for the United States of America. Continue reading →

Yves Smith Posted “STILL FEEL CONFIDENT ABOUT COLLECTING YOUR PENSION AFTER THIS?”

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From the pages of NakedCapitalism was this strikingly sensitive post. Don’t even think twice – this could be your city at any minute too.

By Raúl Ilargi Meijer, editor-in-chief of The Automatic Earth, Cross posted from Automatic Earth

detroit manholeIf your answer to that question is affirmative, I suggest you take a good hard look at what’s coming out of Detroit these days. Why don’t we just call it a bail-in model, not unlike Cyprus, where the waters are tested for forcing parties who historically thought they were safe from cuts, find they no longer are.

And if you think Detroit is the only American city that has these kinds of problems, think again. It’s merely the first, count on it. It’s not just an American issue either, of course, and although retirements plans are set up in myriad different ways, they have one thing in common: they are in essence pyramid schemes, eat your heart out Charles Ponzi, and it’s just a matter of time before the walls start crumbling. Continue reading →

HAMP – The Modification Scam …and NOW SETTLEMENT SHAM!

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By Shelley Erickson, January 18, 2013

HOC_slide01_01The contents in the synopsis of the Wall Street and the Financial Crisis: Anatomy of a Financial Collapse will bring you up to speed on how, why and what happened causing the recent crimes against the homeowners by the banks, S&P and our politicians that led us into the HAMP & MOD SCAM AND NOW SETTLEMENT SHAM. Continue reading →

Banks Get To Name Their Own Price – Independent Foreclosure Review More Like Priceline.com

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110714obamabanksters“Sneaky” comes to mind to describe the government and the banksters regarding two settlements between US banks and government regulators who alleged that the banks were guilty of widespread abuse of the foreclosure system that allowed banks to seize homes from defaulting borrowers. The banksters agreed to pay out more than $20 billion on Monday to resolve claims arising from the mortgage crisis. Continue reading →

Yes, It’s Specifically Housing – Socialism for the Rich and Incompetent!

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Econ4 Video on the Housing and Foreclosure Crisis

Yves Smith12-6-12NakedCapitalism’s Yves Smith is the strong voice of reality on the front lines of the foreclosure war. Posted on December 6, 2012 is a serious message that needs to circulate around the world.

The economy is on the fiscal cliff because of the failed policy decisions not to prosecute the banks in addition to how the unscrupulous securitized mortgage business has been handled.

Blaming borrowers for the frauds committed by the banks has eaten away at the core of our society. “Normally, in history,” said Yves, “when lenders were that incompetent, they went bust and that was capitalism. And now instead, we have a system where lenders who are so grossly incompetent that they should have gone bankrupt – are propped up – that’s socialism for the rich.” Continue reading →

EXPERT WITNESSES: Fraudulent Assignments of Mortgage are Void

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Good information sometimes bears repeating.

BearThe over-burdened judiciary isn’t always up to speed as quickly as it ought to be and good case law doesn’t always make it to the top of the pile for the clerks to review and digest. Even good attorneys occasionally miss pertinent material.

So, let’s go back to about 2 years ago when Yves Smith, who is an absolutely brilliant author and blogger of “NakedCapitalism” and 4closureFraud, truly a leader in the foreclosure defense blogging pack, wrote about an Alabama securitization case named U.S. BANK v. ERICA CONGRESS.

Of course the case went to appeal and the outcome of the appellate decision was a unanimous decision, the Alabama Court of Civil Appeals reversed a lower court decision on a foreclosure case, U.S. Bank v. Congress and remanded the case to trial court.  The reasons hinged upon 2 superb expert witnesses.   Continue reading →