Wisdom Succumbs to Wise Guys

It is difficult to imagine anything more obvious than splitting the risk taking core model of Wall Street from the risk averse core model of banking. The dilution of Glass-Steagel over the years and its eventual repeal is exactly how we got into this mess. Coupling that with deregulation and non-transparency created a context in [...]

No FIX WITHOUT THE TRUTH ABOUT SECURITIZED MORTGAGES

Editor’s Note: They just WON’T get it. Of course they will need a bailout because prices must continue to go down. Just look at the Schiller index that removes inflation from the price of housing and compares it to median income. A child could see where this is going and Washington is covering its eyes [...]

Don’t Get “HAMP”ED Out Of Your Home!

By Walter Hackett, Esq.

The federal government has trumpeted its Home Affordable Modification Program or “HAMP” solution as THE solution to runaway foreclosures – few things could be further from the truth.  Under HAMP a homeowner will be offered a “workout” that can result in the homeowner being “worked out” of his or her home.  Here’s [...]

Calpers Sues Over Ratings of Securities

July 15, 2009
Calpers Sues Over Ratings of Securities
By LESLIE WAYNE
SACRAMENTO — The nation’s largest public pension fund has filed suit in California state court in connection with $1 billion in losses that it says were caused by “wildly inaccurate” credit ratings from the three leading ratings agencies.
The suit from the California Public Employees Retirement System, [...]

Media picks up on evil business practices of servicers: Watch These Videos

HOMEOWNER FIGHTS AND WINS WITH ACORN: watch
HOMEOWNER FIGHTS AND WINS ON PRODUCE THE NOTE: watch

BLACKMAIL: NO LATE PAYMENTS? NO PROBLEM. GET OUT!: watch
PRODUCE THE NOTE: WHEN THE BANK LOST OR DESTROYED THE EVIDENCE: watch
“EVERYONE SHOULD PUT THE ‘LENDER’ TO TASK”: watch
Servicers do everything they can to keep loans in default, make money on foreclosures too: watch
FED BAILOUT [...]

NY Times: State Revenues Buffeted by Downturn — Turning a Blind Eye to Tax Collection

EDITOR’S NOTE: It might seem unrelated, but the foreclosure crisis is very much related to BOTH the state budget problems and solutions.
While Wall Street tinkered with real property in each state, making unrecorded transfers at huge profits, state Treasurers and county revenue departments have sat idly by watching tens of billions of dollars in uncollected [...]

Terrific resources to watch: These will help you

First From Comments: mers-info-excellent-submission-and-discovery
And second: take a look at this site, which is under attack by Goldman Sachs for telling the truth and raising good questions. Goldman Masters of the Unvierse are going to try to shut it down. www.goldmansachs666.com

NY Times: Why Creditors Should Suffer, Too

Editor’s Note: This article is on the right track. Using the guidelines of resolution trust, a fair and equitable distribution of risk and loss could be achieved while at the same time demonstrating to the world that the United States accepts the responsibility for what our “masters of the universe” on Wall Street and Main [...]

AIG Mystery: Where’s the Money?

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3/2/09
Bailouts are going to the perpetrators rather than the victims. The mystery deepens as to where all this money went and where it [...]

World Savings Knew It was Acting Illegally and Committing Fraud

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Editor’s Note: They all knew. It’s up to you to stand up and challenge them to prove the basic assertions — even the sending of a monthly statement is potentially an act of fraud since neither the servicer nor the party with whom they entered into the Pooling and Service Agreement had or have any [...]