A Bedtime Story | Financial System Supply-Chain Cross-Contagion – A Study in Global Systemic Collapse
“First they came with forged documents, submitted them in court and threw my neighbor out of his home. But I did nothing, because I was not in foreclosure. Then they came with forged trades and stole hundreds of millions from farmers in the midwest. But I did nothing, because I was not a farmer in … Read more
The $1 Trillion Student Debt Question | Are the Slaves Repaying their Loans?
ANSWER = NO ~ The looming student loan bubble – Almost half of all student borrowers were not making payments. 1 out of 4 in debt repayment past due on student debt. The aggressive growth in student debt is setting the country up for another debt fueled bubble. Higher education costs have expanded so quickly … Read more
New York Fed Responds to Congressional Request for Information on Barclays – LIBOR Matter
New York Fed Responds to Congressional Request for Information on Barclays – LIBOR Matter Attached are materials related to the actions of the Federal Reserve Bank of New York (“New York Fed”) in connection with the Barclays-LIBOR matter. These include documents requested by Chairman Neugebauer of the U.S. House of Representatives, Committee on Financial Services, … Read more
New York Fed’s Libor Documents Reveal Cozy Relationship Between Regulators, Banks
New York Fed’s Libor Documents Reveal Cozy Relationship Between Regulators, Banks The New York Federal Reserve on Friday released documents showing it knew banks were manipulating a key interest rate more than four years ago. The documents, which date back to 2007, show that the Fed became fully aware that banks were lying about their … Read more
For Many Home Equity Loans, Payment Shock Is Near
“Ten days ago, the Office of the Comptroller of the Currency published some frightening figures about the looming payments. In its spring 2012 “Semiannual Risk Perspective,” it said that almost 60 percent of all home equity line balances would start requiring payments of both principal and interest between 2014 and 2017.” ~ Here Comes the … Read more
Speak Up if You Were a Victim of Wells Fargo Mortgage Discrimination
Speak up if you were a victim of Wells Fargo mortgage discrimination Local homeowners may be able to cash in on last week’s mortgage discrimination settlement with Wells Fargo. The bank was accused of steering black and Latino borrowers into subprime mortgages or charging them higher fees and interest rates than white borrowers. About 34,000 … Read more
WSJ | Tax Liens Trigger More Foreclosures
Tax Liens Trigger More Foreclosures When Elsa Dabreo inherited a house from her late father, she thought it was the best thing that ever happened to her. But now she is struggling to keep it. The house, in a suburb of Boston, was mortgage free and valued at about $330,000 when she received the deed … Read more
