The New York Times posted a Paul Krugman article “Sanders Over the Edge” criticizing Bernie Sanders that is obviously politically (and Wall Street) driven propaganda. What Krugman and the majority of politicians fail to realize is that the Wall Street banks created a new “non-traditional’ mortgage “securitization” that has directly affected over 180 MILLION Americans and indirectly affected 180 million more folks across the United States of America.
With that said the biggest failure that Krugman and his pals overlook is that American homeowners are wising up and researching exactly what has happened to their properties and precisely who was behind the scheme. Continue reading →
Hawaii attorney Gary Dubin and
co-host [former Hawaii Governor] John Waihee and special guest, consumer advocate, Virginia Parsons, will examine the hundreds of TRILLIONS of dollars (yes, hundreds of trillions) used to bail out the big banks and why the bailout nevertheless failed, and what the realistic options of American homeowners are now. Don’t miss this one – but if you do it will be posted after the show airs onwww.foreclosurehour.com. Continue reading →
It’s not because NJ “can’t afford” to pay pensions – it appears its because NJ carelessly invested in fraudulent securities without thorough due diligence like nearly every other state in America. They gambled away the retirement funds of their employees.
In the NY Times today SEC Mary Jo White announced the use of Section 20(b) of the Exchange Act – indirect culpability … It’s time to grill the finance directors on who gave the orders to buy these crappy securities because they had to know (especially after 2004) that these were questionable investments. What promises were made by the investment banks in exchange for the pension fund investments?
By Shawn Timothy Newman, J.D.
Saint Martin’s University
In common parlance, a mortgage (or Deed of Trust) includes the underlying loan (promissory note) and the security on that loan (mortgage or Deed of Trust). This ignores the fact that the note and mortgage (or DOT) are two separate contracts governed by some different laws and legal principals.
As noted in Powell on Real Property, sec. 37.27  (Michael Allan Wolf ed., LexisNexis Matthew Bender 2010) Continue reading →
The recent lawsuits filed in the SUPREME COURT OF THE STATE OF NEW YORK, COUNTY OF NEW YORK are the beginning of a long process unraveling the frauds created by a generation of “Younger Boomers” and “Now Generation” Wall Street bankster executives that expected immediate gratification.
These smart-asses didn’t take the time to ensure all the pieces to the puzzle fit before they began their filthy rich land grab operation, causing a lot of damage and red ink to America and the rest of the world. Their failures are your insurance to defeat foreclosure once you understand what is missing. Continue reading →
Ya think, maybe? MERS alleges to have registered 71 million mortgages. There were likely another 15-20 million “non-MERS” mortgages…
Lynn Szymoniak in Salon:
BY DAVID DAYEN Prepare to be outraged. Newly obtained filings from this Florida woman’s lawsuit uncover horrifying scheme (Update)
If you know about foreclosure fraud, the mass fabrication of mortgage documents in state courts by banks attempting to foreclose on homeowners, you may have one nagging question: Why did banks have to resort to this illegal scheme? Was it just cheaper to Continue reading →
Municipal workers could be robbed of pension funds to pay big banks for payments due on interest rate swaps.
The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally. In Cyprus, the depositors were “bailed in” (stripped of a major portion of their deposits) to re-capitalize the banks. In Detroit, it is the municipal workers who are being bailed in, stripped of a major portion of their pensions to save the banks.
The new rules for keeping too-big-to-fail alive: use creditor funds, including uninsured deposits, to recapitalize failing banks.
April 29, 2013 | “[W]ith Cyprus . . . the game itself changed. By raiding the depositors’ accounts, a major central bank has gone where they would not previously have dared. The Rubicon has been crossed.”
The crossing of the Rubicon into the confiscation of depositor funds was not a one-off emergency measure limited to Cyprus. Similar “bail-in” policies are now appearing in multiple countries. (See Continue reading →
“We are fighting in the defense of our homes, our families, and posterity. We have petitioned, and our petitions have been scorned. We have entreated, and our entreaties have been disregarded. We have begged, and they have mocked when our calamity came.
We beg no longer; we entreat no more; we petition no more. We defy them!” William Jennings Bryan (1896). Some things never change – or will they?
Over-Leveraged Acquisitions, Mergers, and Bad Wall Street Investments Killed Twinkies – Not the Unions. Another Death by a Hedge fund.
If it wasn’t obvious after the Wisconsin tirade of union abuse that big business wants to bust all unions – it certainly should be now. Looking at any company’s or municipality’s financial debacle you will usually find a link to bad Wall Street advice or investments. This is certainly true for Hostess Brands.
Founded in 1930 by Ralph L. Nafziger, the sad story of the demise of Hostess Brands, formerly known as Interstate Bakeries Corporation, and its bankruptcies stem from more recent bad management and investment decisions which created the loss of its employee pension funds – a problem that our government fails miserably to protect and properly regulate. Continue reading →