REALITY CHECK – The Banks Are Going to Lose the FHFA Suits

Posted on September 10, 2011 by Deadly Clear

The Banks Are Going to Lose the FHFA Suits, So They Are Trying to Shoot The Messenger.

By Abigail Caplovitz Field | September 10, 2011

FHFA Ever since the Federal Housing Finance Authority (FHFA, Fannie Mae & Freddie Mac’s overseer) filed its blockbuster securities fraud suits against 17 banks and 131 individual bankers, a lot of commentators have said, essentially: How dare FHFA sue banks for securities fraud? Fannie and Freddie were crooks too! (Er, Fannie and Freddie were too sophisticated to be fooled! Fannie and Freddie couldn’t have been defrauded by the banks!) Continue reading →

Super Hero Schneiderman Kicked Out of Club for Standing Up for America

Posted on August 24, 2011 by Deadly Clear

The time has come to rattle the cages of our Attorneys General, our Governors, our Congressional Representatives and State Legislators. SUPER SCHNEIDERMAN We need to tell them that we support New York’s Attorney General Schneiderman! The one true Super Hero, Eric T. Schneiderman, AG of the great state of New York understands the vast amount of fraud that is associated with securitization.

Schneiderman is not willing to fall in the Obama line dance and allow the banks to get off nearly scot-free for ALL of the wrongs, frauds, abuses and Ponzi scheming that they’ve done. The fearless leader has been outspoken because he knows, just like his predecessor, Elliot Spritzer, that these banks have committed crimes that surpass any “get out of jail” free pardons the failed Obama administration might be willing to give. Continue reading →

Report: UNDERWATER MORTGAGES AND 1 MILLION JOBS

Posted on August 17, 2011 by Deadly Clear

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 →

Idiot of the Week – Ben Bernanke

Posted on July 25, 2011 by Deadly Clear

By DEADLY CLEAR

This week’s IDIOT focus is on Chairman Ben S. Bernanke – Semiannual Monetary Policy Report to the Congress Before the Committee on Financial Services, U.S. House of Representatives and Committee on Banking, HOusing and Urban Affairs, U.S. Senate, Washington, D.C. ON July 13, 2011 and July 14, 2011, respectively.

Chairman Bernanke presented his overview of a weak economy, suffering because investors just don’t want to come back to Wall Street like they had earlier this decade.

Mr. Bernanke, do you think it might be due to the numerous investor lawsuits for securitization fraud and deception caused by [your pals] Wall Street’s greed and Congress’ failure to regulate derivatives?… Maybe, yeah? You ask Congress for an incentive to bring investors back – regulation might be a good start to stabilization…’cause it sure didn’t work the other way! Continue reading →

MERS Causes Banksters’ Nightmare to Continue

Posted on July 24, 2011 by Deadly Clear

New York Times FAIR GAME

The Banks Still Want a Waiver

By GRETCHEN MORGENSON
Published: July 23, 2011

HOW should banks atone for those foreclosure abuses — all the robo-signing and shoddy recordkeeping that jettisoned so many people from their homes?

It has been four months since a deal to remedy this mess was floated. Not much has happened since — at least not publicly.

Last week, banking executives and state attorneys general met in Washington to try to settle their differences. At issue was how much banks should pay, and how and to whom, to make this all go away. The initial terms, which emerged in March, were said to carry a $20 billion price tag.

But here is a crucial question: to what extent would such a settlement protect banks from future liability? Will the attorneys general strike a deal that effectively prevents them from Continue reading →

The Free House Myth – or Reality?

Posted on July 20, 2011 by Deadly Clear

The Free House Myth – or Reality?
July 20, 2011

Katie Porter posted an interesting viewpoint on the Credit Slips blog this week called the The Free House Myth. A synopsis of the column points to the fact that the banks may
have bad paper now – but they’ll be back. It almost sounded like Katie had been drinking Kool-Aid with RCO when she stated in her closing line, “[T]he free house is political handwringing, not legal reality.”

Porter came under fire by no less than (my personal favorite) Adam J. Levitin, Professor of Law at Georgetown University. Professor Levitin has provided significant testimony before Congress and has dissected the Wall Street securitization scheme that collapsed our economy. Professor Levitin posted his comments to politely debunk Porter’s ‘no free house’ viewpoint…
Continue reading →