While 49 state treasuries were submerged in red ink after the 2008 financial crash, one state’s bank outperformed all others and actually launched an economy-shifting new industry. So reports the Wall Street Journal this week, discussing the Bank of North Dakota (BND) and its striking success in the midst of a national financial collapse led by the major banks. Chester Dawson begins his November 16th article: Continue reading →
Tenacity pays off! Maybe the jig is up… This is the bankruptcy court that wanted to DESTROY the homeowner files.
Appellants Molly S. White and Ralph N. White (“White”) (“appellants”) filed this bankruptcy appeal on October 18, 2013. (D.1. 1) They appear pro se. The appeal arises from an order entered by the bankruptcy court on August 30, 2013, that determined debtors complied with the bankruptcy court’s order establishing bar dates for ‘filing proofs of claim and approving the form, manner, and sufficiency of the notice as applied to unknown creditors.” Continue reading →
Sense on Cents: One of the best lines I ever read in The Wall Street Journal was attributed to then CEO of First Boston Allen Wheat. When asked about a senior executive who had recently departed the firm, Wheat rhetorically inquired and responded, “How do you know when he is lying?” “His lips move.”
Regrettably, couldn’t we say the same about so many of our so called political and business leaders? I think there is little doubt.
Life in and around Washington, Wall Street, and elsewhere in America now seems much more to revolve around rationalization than integrity. With the media often complicit in allowing the lying to go fully unchecked, our society suffers. Against this backdrop, I am very excited to pick up a copy of a book scheduled to be released tomorrow entitled 935 Lies: The Future of Truth and the Decline of America’s Moral Integrity written by a new Sense on Cents favorite but longstanding journalistic giant Charles Lewis. Continue reading →
Congratulations on the release of your book. I assure you that I will read it and review it here at my blog.
Given your positions formerly as head of the New York Federal Reserve and Secretary of Treasury, you will certainly receive enormous media attention and exposure in touting your book and your take on dealing with the crisis of 2008. To wit, I see just this morning that The Wall Street Journal is running your editorial entitled The Paradox of Financial Crises.
Bailed Out Fannie and Freddie Are Repaying Taxpayers? Answer: FALSE
In a recent Committee on Financial Services report the truth comes out about government sponsored Fannie and Freddie that foreclosure defense experts and “MERS Blur” researchers realized long ago… There is no way Fannie and Freddie can ever repay the bailout debt; and, they were at the helm of the mortgage Ponzi-like scam to the detriment of the American public.
Joe Cassano, former chief of AIG’s financial products division, was another. First, he arrogantly blew off the accountants who warned him his portfolio of hundreds of billions in uncollateralized bets might destroy the world. Then, after it all went Continue reading →
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.
One man’s wealth tax becomes another man’s wealth confiscation
I 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.
NakedCapitalism’s Yves Smith is the strong voice of reality on the front lines of the foreclosure war. Posted on December 6, 2012 is a serious message that needs to circulate around the world.
The economy is on the fiscal cliff because of the failed policy decisions not to prosecute the banks in addition to how the unscrupulous securitized mortgage business has been handled.
Blaming borrowers for the frauds committed by the banks has eaten away at the core of our society. “Normally, in history,” said Yves, “when lenders were that incompetent, they went bust and that was capitalism. And now instead, we have a system where lenders who are so grossly incompetent that they should have gone bankrupt – are propped up – that’s socialism for the rich.” Continue reading →