Securitization – The Undead Heart of The Shadow Banking Machine

MOST POPULAR ARTICLES CLICK HERE TO GET COMBO TITLE AND SECURITIZATION REPORT CUSTOMER SERVICE 520-405-1688 Editor’s Comment:  The article below was written by David Malone of the Golem XIV: Author of the Debt Generation, website, and was submitted to this blog by ELLEN BROWN Ellen is an attorney and the author of eleven books, including Web [...]

Wells Fargo, Option One, American Home Mortgage Relationship

Wells Fargo Bank, N.A. appears in many ways including as servicer (America Servicing Company), Trustee (although it does not appear to be qualified as a “Trust Company”), as claimed beneficiary, as Payee on the note, as beneficiary under the title policy, as beneficiary under the property and liability insurance, and it may have in actuality [...]

Loan or investment . . . what did the homeowner receive?

Maher Soliman and Steve Kop have hit the nail on the head. The only grey area that needs to be explored is the same cinfused mess that started this. The SPE is a conduit by definitition. It is a REMIC. That means it does NOT own the mortgages and notes and it does not own [...]

Thomas Friedman Calls Out Clinton and McCain on Gas Tax Proposal

The McCain-Clinton gas holiday proposal is a perfect example of what energy expert Peter Schwartz of Global Business Network describes as the true American energy policy today: “Maximize demand, minimize supply and buy the rest from the people who hate us the most.” Good for Barack Obama for resisting this shameful pandering.   April 30, [...]

Fed Lies and Sound Bites

The latest change in Fed policy sounds good. You get that warm fuzzy feeling that credit will loosen up and that things are getting better. But the fact remains, that this is ANOTHER transfer of the power to create money to the PRIVATE sector, it is another green light for PRIVATE TAXATION, and worst of [...]

Response to Cat: Why Hold Onto an Upside Down Investment?

Mortgage Meltdown: Cat Writes: cat All good but why would I want to keep paying on a house that I owe $450,000 that is only worth $325,000 at best. From HUD RELEASES TIPS FOR AVOIDING FORECLOSURE, 2008/04/22 at 9:42 PM EDITOR’S RESPONSE: THERE ARE ONLY TWO REASONS YOU WOULD WANT TO HOLD ONTO THE HOUSE — MONEY [...]

Choosing Recession: Well Written and Worth the Read

  Commentary Choosing Recession Lakshman Achuthan and Anirvan Banerji 04.21.08, 6:00 AM ET    The 2008 recession guarantees many months of job losses that will boost foreclosures and feed the credit crisis. But if fiscal stimulus had reached consumers quickly, it would have forestalled a recession, helping to stabilize the housing market. Such a soft landing [...]

Mortgage Meltdown: Freezing Home Equity Lines —Remedies

THE BOTTOM LINE: YOU HAVE RIGHTS AND YOU SHOULD EXERCISE THEM. DON’T TAKE THIS NONSENSE LYING DOWN. GO TO YOUR ATTORNEY GENERAL OR WHATEVER AGENCY PROTECTS CONSUMER RIGHTS AND LET THEM BATTLE IT OUT. GO TO THE BANKING COMMISSION IN YOUR STATE AND LET THEM BATTLE IT OUT. THAT MERELY MEANS BORROWING FROM THE WORDS [...]

Mortgage Meltdown and Credit Crisis: News and Comment 4-2-08

U.S. economy in ‘very difficult period,’ Bernanke says By Greg Robb Last update: 9:30 a.m. EDT April 2, 2008 WASHINGTON (MarketWatch) – The outlook for U.S. growth has worsened since January and the possibility of a recession can’t be ruled out, Federal Reserve Chairman Ben Bernanke said Wednesday. “It not appears likely that real gross [...]

Private Taxation — American Healthcare

The answer to our unique American set of issues is not a single issue proposed solution, but a sea change in our premise: either we are a nation of people and laws to protect, defend and promote the health, safety and welfare of all our citizens or we are a vehicle for corporate interests that [...]

Mortgage Meltdown: New Treasury Blueprint for Greater Disaster

You can argue all you want on paper with equations and philosophical arguments, but a simple human fact remains true — if people do not feel any moral sense of accountability they will not act in accordance with a reasonable standard of good character. Without character the entire society, and of course the economy, goes [...]

Boom and Bust Cycles: Predictions on American Life — PART I — MONEY

Boom and Bust Cycles: Predictions on American Life — PART I MONEY The best predictor of future behavior is past behavior. It’s all we have really. Of course the problem with using past behavior is that we relying on defective memories or reports from people who had their own agenda in relating “facts” that tend [...]

Mortgage Meltdown: Fed $200 Billion Loan and Acceptance of CDO’s as Capital

While there is an obvious combination of hypocrisy and deception in allowing financial institutions to use their CDO’s for collateral or capital reserves, this latest move from the Fed comes closest to addressing the real issues on the banking, money and liquidity issue. I’m no supporter of sweeping problems under the rug, but what we [...]

Economy Meltdown: The Virus is Spreading — Remedy=TRUTH

The bottom line is that the Federal reserve is fast becoming irrelevant for reasons described below (and foecasted by Alan Greenspan in 1996), proprietary currencies already out number fiat currencies worldwide, and a return to local government chartered bank currencies and other trusted issuers is probably the only way we can restore order to the [...]

Find your outrage and abandon your despair !!!

  Yes it is true that you didn’t read the fine print. But how much would you have understood in the mountain of paperwork you signed. I am NOT an attorney licensed to practice in Arizona which gives me some leeway in what I can say and do for you. On the other hand I [...]

It’s Not Just Enron

Enron is just one of a long series of scams starting back in the 1960′s with changes in the rules that prompted Abromoff to Write Unaccountable Accounting. The essence of the scam is simple: put the risk on some unsuspecting schmuck and take all the money. It is the middlemen — the accounting firms, the [...]