The Market Ticker – The Truth About Fraudclosure and Servicing


From yesterday’s Foreclosuregate hearing… selected bits and pieces…. the really, really important ones.

smiley – more than three years ago.

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11 Responses to “The Market Ticker – The Truth About Fraudclosure and Servicing”
  1. RAMONA says:


  2. Flex says:

    Would this news surprise anyone? We had been hearing for decades that the people we elect as Representatives spent millions in campaigns just to get re-elected. Of course, they fight to stay on to continuing milking the cow. Look the news today, Pelosi gets to be re-elected as the leader of the Democrats. Come on People! When is time to go, just go, get out, you did your thing and is time to move on!
    But, NO. They think that Politics is a business. They get yearly raises, get paid pension for life, and get all the perks they want. The best part they get to spend all the money they want without ever having a conscious to pay a dime back. This is why we have all the peasants to pay taxes for ever, for life. When are we going to rise and fight for our rights in the Constitution?
    According to the Constitution, they suppose to serve without pay. Maybe we all should be politicians to become millionaires. Like Bill Black said, The Best Way to rob a Bank is to Own One.
    I said, the best way to become a millionaire is to become a politician.
    Corruption, Fraud, Deceit, Embezzle, Cheat, Lie, and Steal. These are the most fashionista words today.
    No matter where you turn, you hear these words in every line of business. Fraud is the winner for the last 3 years. You can find it in every form and shape specially if it has to do with Government in every level all over the country. I wonder what the rest of the world is thinking about us, Americans.
    We must be the most lay back and lazy creatures that God put on this earth. Look what happened in France when the government announced the possibility of increasing the retirement age from 60 to 62. The country went bizarre, riots all over the place, and burning tires, and so on.
    Here, we take it so easy and no one gives a darn, no one said anything, no one gets involve. Every body goes back to their thing like robots, like zombies, like it does not matter to them.
    As long as the Government of the U.S. continue allowing this charade from The Lobbyist giving millions of dollars in behalf of major Corporations to the Corrupted Politicians in Congress, our Representatives, even the most honorable ones, will be corrupted and will continue destroying this country.
    As we all well know that Money is the most evil thing ever invented by man. It will destroy all man kind because of the things that comes with it, greed, jealousy, envy, corruption, and crime.
    Let’s clean up the house once and for all. On the next two years, we have to unite to restore the integrity and dignity of this country. We are close to 400 million Americans. If we register to vote and get our country back, we would not be in the situation we are today. Enough is enough and we need to take all the crooks out of Congress and the Government. Lets put real people in power, every day average people who really care for others because they know how it feels being there and done that. No the ones who were born with a golden spoon in their mouth.
    We never heard about billionaires and now all we hear is about trillions. No many people have the idea what a billion dollars is, now even a trillion dollars. No many people have any idea what the real deficit in this country is today. It is sad that you can ask any recent High School Graduate about the Constitution, the Federal Reserve, the Government, the Banking System, even how to balance a check book. They don’t have a clue of what you are talking about. They said no one taught them anything like that in school.
    How about politics? I had a chance to ask my daughter’s 5th grade teacher if she talks to the students about politics or financial education. She told me that these things are not in the curriculum. Woah! No wonder, our kids don’t know much of what is going on in today’s economy!!!
    Let’s do a simple and right conscious thing, let’s teach our children financial planing so they can have a better future. The future we never or will have now that the corruption is out of control.
    I can not wait to see the results of all this mess of Financial Crisis. When the dust settled, there will be a lot of people going to jail or a lot of blood in the streets.
    As always, God Bless You and Your Family. God Bless America!

    • Maria says:

      You are so RIGHT “FLEX”! Unfortunately, I need to finish with this websites. Someone revealed my name ang my ANONYMOUS responses to whole America in the “FACE BOOK”!!!! Bitch!!!! Now I can wait UNWANTED GUESTS at any time! This is very frightening…. I wish this person to die!!!!

    • dizzyfingers says:

      It’s not “a business”; they are part of (but not the top of) the American Ruling Class. Any if one were, would one want to give it up? What would someone do to remain near, lend assistance to, and be one of the elites?

      Actively help to bankrupt the country by implementing, changing, repealing selected laws that stand in the way of their mentors… the banksters?

      Yep. No qualms.

      One thing that would help: term limits, ONE TERM ONLY, NO REPEATS.
      And how about minimum wage and no benefits for congress AND for the workers in the federal bureaucracy?

      See this about bureaucrats and congress:

      And these links about the ARC:
      America’s Ruling Class — And the Perils of Revolution
      By Angelo M. Codevilla from the July 2010 – August 2010 issue (American Spectator)

      and this article (consider how we pay not only their salaries while in office, but for their retirements and all their benefits while retired (millions of people who feel they are ENTITLED to ride on the backs of Americans who works at PRODUCTIVE jobs — i.e., they contribute directly to the economy, while government bureaucrats including congress do not. The money they might spend was “expropriated” from working people).

      The Government Pay Boom
      America’s most privileged class are public union workers.
      It turns out there really is growing inequality in America. It’s the 45% premium in pay and benefits that government workers receive over the poor saps who create wealth in the private economy.

      And the gap is growing. According to the U.S. Bureau of Labor Statistics (BLS), from 1998 to 2008 public employee compensation grew by 28.6%, compared with 19.3% for private workers. In the recession year of 2009, with almost no inflation and record budget deficits, more than half the states awarded pay raises to their employees. Even as deficits in state capitals widen and are forcing cuts in services, few politicians are willing to eliminate these pay inequities that enrich the few who wield political power.

      Let’s walk through the math. In 2008 almost half of all state and local government expenditures, or an estimated $1.1 trillion, went toward the pay and benefits of public workers. According to the BLS, in 2009 the average state or local public employee received $39.66 in total compensation per hour versus $27.42 for private workers. This means that for every $1 in pay and benefits a private employee earned, a state or local government worker received $1.45.

      The BLS study breaks down where that 45% premium comes from. It turns out that public employees earn salaries that are about one-third higher on average than what is provided to private workers per hour worked. But the real windfall for government workers is in benefits. Those are 70% higher than what standard private employers offer, as shown in the nearby table. Government health benefits are twice as generous as what workers employed by private employees earn. By the way, nearly this entire benefits gap is accounted for by unionized public employees. Nonunion public employees are paid roughly what private workers receive.

      What if government workers earned the average of what private workers earn? States and localities would save $339 billion a year from their more than $2.1 trillion budgets. These savings are larger than the combined estimated deficits for 2010 and 2011 of every state in America.

      In a separate survey, the federal Bureau of Economic Analysis compares the compensation of public versus private workers in each of the 50 states. Perhaps not coincidentally, the pay gap is widest in states that have the biggest budget deficits, such as New Jersey, Nevada and Hawaii. Of the 40 states that have a budget deficit so far this year, 28 would have a balanced budget were it not for the windfall to government workers.

      But these current fiscal problems are a picnic compared to the long-term benefit commitments that state and local politicians have made to public retirees. A 2009 study by economists Robert Novy-Marx and Joshua Rauh, published in the Journal of Economic Perspectives, estimated that these government pensions are underfunded by $3.2 trillion, or $27,000 for every American household.

      The Orange County Register reports that California has 3,000 retired teachers and school administrators, who stopped working as early as age 55, collecting at least $100,000 a year in pensions for the rest of their lives.

  3. Equity Free says:

    16% increase !!

    Congressional Members’ Personal Wealth Expands Despite Sour National Economy


    Contact: Dave Levinthal, 202-354-0111

    WASHINGTON – Members of Congress are enjoying their own financial stimulus.

    Despite a stubbornly sour national economy congressional members’ personal wealth collectively increased by more than 16 percent between 2008 and 2009, according to a new study by the Center for Responsive Politics of federal financial disclosures released earlier this year.

    And while some members’ financial portfolios lost value, no need to bemoan most lawmakers’ financial lot: Nearly half of them — 261 — are millionaires, a slight increase from the previous year, the Center’s study finds. That compares to about 1 percent of Americans who lay claim to the same lofty fiscal status.

    Of these congressional millionaires, 55 have an average calculated wealth in 2009 of $10 million or more, with eight in the $100 million-plus range.

    “Few federal lawmakers must grapple with the financial ills — unemployment, loss of housing, wiped out savings — that have befallen millions of Americans,” said Sheila Krumholz, the Center for Responsive Politics’ executive director. “Congressional representatives on balance rank among the wealthiest of wealthy Americans and boast financial portfolios that are all but unattainable for most of their constituents.”

    The report details a number of aspects about congressional members’ personal wealth, including who’s the richest, who’s the poorest and what investments lawmakers like most.

    To read the Center’s full report, click here.

    • RAMONA says:


  4. Equity Free says:

    Has a lot to do with what set of books you look at, they can hide from audits billions of dollars . Compensation of of 144 billion in 2010 , up from 124 billion in 09, all time record . Pay based on profits . 9/08 Lehman Brothers bankrupt, 10/08 Bush, Paulson come before the nation and state Wall Street financial institutions broke and they are too big to fail .” We need 850 billion” to fix this crises by buying and disposing of their toxic products . They get the money fix their balance sheets but do not get rid of crises or toxic products . 1 year later most have paid back bailout and state record profits . 2 years later another record year while country is in dyer straites,millions out of work,home foreclosures at record high,no jobs and budget shortfalls across the board . What kind of math do they use, the country is broke and they continue to strive . They must be using that Chinese slide the beads back and forth counter ? This guy stated that nobody knows how many mortgages are out there, 50-60 million ? Dunno Incredible ! Heads Gotta Roll ! I want my money back .

  5. Ohioan says:

    Good vid. selection, Michael!

    Btw, Bethany McLean was on Dylan Ratigan today pointing out that [paraphrased] ….”the people [main street] did not simply buy these sub-prime loans, they were SOLD these products…and there is a significant difference….”.

    McClean who earlier wrote “The smartest guys in the room” has a new book out called “All the Devils are here”.

    • RAMONA says:

      right they homes were sold to people who for once in their lives who had dreamed of owning a home was lured into the spiders nest. the homeowners are the innocent people here …this was a scheme right from the start and the CROOKS need to pay for their CRIMES! we do not want money from them that as HOMEOWNERS we never see. WE WANT JUSTICE!!!!!

  6. MSJ says:

    That’s good for them all….Let all their heads roll…..LOW DOWN DIRTY CROOKS

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