Fraud: An American History from Barnum to Madoff

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ej-fraudNot a moment too soon, Princeton University Press has just released Fraud: An American History from Barnum to Madoff by historian & Duke University Vice Provost Ed Balleisen. (Some readers might be familiar with his earlier book on bankruptcy in Antibellum America).

As I learned when reviewing an earlier draft, Fraud is meticulously researched and completely fascinating, with plenty of careful attention to law and regulatory structures. The book’s other virtues are well encapsulated by Kirkus:

Balleisen casts a gimlet eye on the passing parade of hucksters and charlatans, peppering a narrative long on theory with juicy asides that build toward a comprehensive catalog of ‘Old Swindles in New Jargon’. . . . Ranging among the disciplines of history, economics, and psychology, Balleisen constructs a sturdy narrative of the many ways in which we have fallen prey to the swindler, and continue to do so, as well as of how American society and its institutions have tried to build protections against the con. But these protections eventually run up against accusations of violating ‘longstanding principles of due process,’ since the bigger the con, the more lawyers arrayed behind it.Kirkus Continue reading

CREDIT SLIPS – Crisis Books… a phenomenal resource

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Crisis books  posted by Alan White

I recently stumbled on this excellent compendium of more than 300 books on the financial crisis.  It also includes a list of 25 or so books that predicted the crisis, as well as a useful link to an annotated list of individuals who can be given credit for predicting various aspects of the crisis. [This is terrific reference material. Be sure to bookmark. DC Ed.] Continue reading

Weekend Reading: The Property Illusion

How many people have to lose their savings, their equity and their pensions before there is a revolution – or is the intellectual revolution already here – “refuge to reconstruction”? That is the $54 Billion dollar question.

Posted by Larry Doyle, Sense on Cents

One man’s wealth tax becomes another man’s wealth confiscation

Property RightsI have no doubt that given the need for sources of revenue by Uncle Sam and other sovereign governments, the topic of “the protection of property rights” will be increasingly brought front and center in the public arena.

We saw this play out in Cyprus just a few weeks back, and we witness another example of this topic just the other day in a WSJ article, Now He’s After Your 401(K). Continue reading

THE 3 STOOGES OF MERS – DISORDER IN THE COURT

MERS 3-STOOGESA landmark decision was made this week in Culhane v. Aurora in the United States Court of Appeals For the First Circuit without a complete set of facts set out before what  appears to be its clueless judges.

The case decision, an APPEAL FROM THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MASSACHUSETTS was to some degree based on the merits of standing answering the question: “Whether a mortgagor has standing to challenge the assignment of her mortgage — an assignment to which she is not a party and of which she is not a third-party beneficiary — is a matter of first impression for this court.” Continue reading

HAMP – The Modification Scam …and NOW SETTLEMENT SHAM!

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

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

EXPERT WITNESSES: Fraudulent Assignments of Mortgage are Void

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

New Hampshire Sheriff Launches Mortgage Bank Fraud Investigation. “We need to shine the light on everything.”

“People have an absolute right to be protected in their homes and their homes to be protected,” said Christopher Conley, High Sheriff of Carroll County NH, who held a press conference announcing that he is forming a task force to investigate mortgage fraud.

Mortgage Movies, 4closureFraud, and zerohedge posted Sheriff Christopher Conley’s press conference announcing his new task force and proudly stating, I am announcing the formation of a task force to investigate mortgage fraud throughout Carroll County – criminal fraud.”

Every city and town in every state across America should be doing the same thing. The Sheriff states, “There are thousands of property owners throughout the county that may be affected…

Continue reading

Wells Fargo – Sand Canyon Fraud, Forgery = Unlawful Foreclosure.

Update – January 3, 2013:
The Dubin Law Firm Defense Team headed by Fred Arensmeyer worked out a loan reinstatement deal with Wells Fargo for the Phillips-Tehiva Family just before the holidays. Next time you are in Hana, stop by Braddah Hutts and have lunch with the Tehivas.  Yes, Virginia there is a Santa Claus.

UPDATE – January 3, 2012:
Wells Fargo has agreed to stay the eviction until the hearing of Feb. 7, 2012.

On Friday December 23, 2011 at 4:00 P.M., two days before Christmas, the Phillips-Tehiva Family of Hana, Maui, Hawaii, (6 children, mom, dad and grandmother) received notification of a “criminal trespass” eviction from their home, located on property which has been in the Phillips Family for more than 100 years.

The action, taken by Wells Fargo Bank, occurred after the Phillips-Tehiva Family filed a motion on Thursday, December 22nd for a hearing to review the court’s eviction order based on fraudulent and forged documents. Continue reading

“Crappy settlements” have become a cheap payoff system not serving the public interest.

It will only continue to get worse. What will it take for our politicians and government to understand that the securities fraud committed by Wall Street and their associates have created joblessness, homelessness, foreclosure and eviction that has affected families across the country? How can we continue to ignore the enormous wrongs?

Judge Rakoff was right when he told the Securities and Exchange Commission that their deal with Citigroup Global Markets, Inc. was not transparent enough and stated,
“[T]he Supreme Court has repeatedly made clear, however, that a court cannot grant the extraordinary remedy of injunctive relief without considering the public interest.”

The public interest has been sorely damaged by the fraud committed by the Wall Street Continue reading