The Human Cost of Recessions: Assessing It, Reducing It

The Human Cost of Recessions: Assessing It, Reducing It Introduction Recessions leave scars on the labor market; the Great Recession of 2007–09 has left gaping wounds. Over 200 million people across the globe are estimated to be unemployed at present. Among countries with unemployment data in the IMF’s World Economic Outlook (WEO) database, there has … Read more

Foreclosure Mill Morality

”I think I heard the same excuse at Nuremburg. The difference was that in Germany you might get shot for disobeying orders. Not so here. Did anyone make an effort to “recommend” or “suggest” that the bank simply push back the turnover date in the Judgment of Restitution? There was little or no risk in … Read more

Property Owner In Foreclosure Suspected Of Staging Mistaken Mob Hit, Then Torching Premises To Cash In On $500K+ Insurance Policy

Windham fire explanation too ‘sensational’ for investigators Court papers say Donato Corsetti staged the fire to collect on an insurance policy. The owner of an apartment building in Windham that burned on Dec. 7 is now suspected of setting the fire and then tying himself up to make it look like a mob hit. Investigators … Read more

Marketing Campaign Offers Free Paint Jobs, 12 Months of Mortgage Payments to Homeowners Facing Foreclosure

Marketing campaign offers free mortgage for select homeowners ORLANDO, Fla. — Hundreds of homeowners in Orlando who want to live mortgage-free for a year have agreed to be part of an extreme and controversial marketing campaign. Tammy Valdes is one homeowner who’s applied to transform her home into a neon-hued billboard to get her mortgage … Read more

Not Holding My Breath But… Eliot Spitzer: ‘We’ve turned a corner’ – Wall Street Should Expect Criminal Cases in 2013

Eliot Spitzer: ‘We’ve turned a corner’ — Wall Street should expect criminal cases in 2013 “Viewpoint” host Eliot Spitzer reviews the year in Wall Street headlines and looks ahead to 2013 in this Web exclusive video. Spitzer argues that “it has not been a great year for Wall Street,” citing the Libor scandal, JPMorgan’s “London … Read more

Animals Often Forgotten as Victims of Foreclosure

Animals often forgotten as victims of foreclosure Like many other South Floridians, Madeleine J. Calder was crushed when she lost her 5-acre ranch in Palm Beach County to foreclosure. But she hadn’t counted on also losing her most prized possessions: six ostriches, named Rhett Butler, Miss Scarlett, Bob, Gallagher Bird, Ken Doll and Little Bit. … Read more

Washington State | Bankers’ Issues & Answers – Navigating Non-Judicial Foreclosures After Bain v. Metropolitan Mortgage Group, Inc., et al.

Navigating Non-Judicial Foreclosures After Bain v. Metropolitan Mortgage Group, Inc., et al. In August, the Washington State Supreme Court weighed in on the role of Mortgage Electronic Registration Systems, Inc. (“MERS”) in Washington’s non-judicial foreclosure process, holding that MERS does not meet the definition of “beneficiary” in Washington’s Deed of Trust Act (“DTA”) RCW 61.24.005(2), … Read more

Deutsche Bank Sued Over $173 Million in Mortgage Bonds

Deutsche Bank Sued Over $173 Million in Mortgage Bonds Deutsche Bank AG (DBK) was sued in New York by Landesbank Baden-Wuerttemberg, which accuses the German bank of fraud in the sale of $173 million in mortgage-backed securities in 2007. Deutsche Bank engaged in “egregious fraud,” selling securities that were riskier than promised and leading to … Read more

US BANK vs JANSEN | Judge Finds U.S. Bank in Contempt in Foreclosure Case

Judge Finds U.S. Bank in Contempt in Foreclosure Case SARASOTA – A circuit court judge found one of the largest banks in the country in contempt of court on Friday over a foreclosure case that has dragged through the system for several years. Attorneys for Dimitri Jansen, a local schoolteacher whose former home in North … Read more

Banks Deeply Involved in FBI-Coordinated Suppression of “Terrorist” Occupy Wall Street

Banks Deeply Involved in FBI-Coordinated Suppression of “Terrorist” Occupy Wall Street If you had any doubts of the veracity of former IMF chief economist Simon Johnson’s depiction of the financial crisis as a “quiet coup,” a pre-Christmas release of FBI documents should put them to rest. While I linked to a discussion of the results … Read more

Barclays Libor Ad (Modified)

NSFW ~ 4closureFraud.org Tweet

FRBA STUDY: Debt Slaves – Underwater Homeowners Will Work for Less Pay

Underwater Homeowners Will Work for Less Pay People who are underwater on their home mortgages probably will accept “significantly” lower wages than other homeowners, according to a study published this month by the Federal Reserve Bank of Atlanta. The recent U.S. housing bust left many homeowners with mortgage debt larger than the equity value of … Read more

Tenants Feel Pinch of Rising Rents

Tenants Feel Pinch of Rising Rents Record-low mortgage rates mean that homeowners have a smaller financial burden for their residences than at any time since the early 1980s. But here’s the bad news: Rising rents are squeezing many families and leaving them with less to spend. Several factors have pushed rents up. Rental and apartment … Read more

Angelo (Agent Orange) Mozilo, Former Countrywide CEO, Claims He Doesn’t Know What ‘Verified Income’ Is

Angelo Mozilo, Former Countrywide CEO, Claims He Doesn’t Know What ‘Verified Income’ Is Another day, another corporate titan suffering from devastating amnesia. This time, the memory-loss patient is none other than Angelo Mozilo, the former CEO of Countrywide Financial. Deposed in the landmark lawsuit between the monoline insurer MBIA and Countrywide/Bank of America, Mozilo professed … Read more

How Bad Is Our Debt Problem, Anyway? And Will a Deal Fix It?

How Bad Is Our Debt Problem, Anyway? And Will a Deal Fix It? by Theodoric Meyer ProPublica President Obama will meet with congressional leaders today in another attempt to avert the fiscal cliff u2014 the automatic tax increases and spending cuts set to take effect Jan. 1 unless Congress can strike a deal. The cuts … Read more

ArmyTimes – Number of Homeless Iraq, Afghan Vets Doubles

Number of homeless Iraq, Afghan vets doubles The number of Iraq and Afghanistan veterans who are homeless or at risk of losing a roof over their heads has more than doubled in the past two years, according to government data. Through the end of September, 26,531 of them were living on the streets, at risk … Read more

The Farce Is Complete: In The Case Of Countrywide, Congress Finds Itself Innocent Of Being “Friends Of Angelo”

The Farce Is Complete: In The Case Of Countrywide, Congress Finds Itself Innocent Of Being “Friends Of Angelo” Just when you thought the seemingly endless rabbit hole of Wall Street-Washington corruption, cronyism, co-option, crime and kickbacks may have finally come to an end, here comes the House Ethic Committee to pronounce that no ethics breaches … Read more

Financially Distressed Homeowners Face Criminal Prosecution For Recording Bogus Land Documents in Foreclosure Cases

“We are the government (too),” said county Clerk- Recorder Lee Lundrigan. “If the purpose of making a document public may be criminal, we communicate that information to the DA’s fraud team and they can make the final determination.” Everyone needs to drop this clerk an email or phone call to see how many “Linda Green” … Read more

The FBI – Drowning In Counter-Terrorism Money, Power and Other Resources – Will Apply The Term “Terrorism” To Any Group It Dislikes And Wants To Control And Suppress

Painting by Anthony Freda: www.AnthonyFreda.com. “Abuses Of Power Always – Always – Expand Beyond Their Original Application” Constitutional lawyer Glenn Greenwald writes: Documents just obtained from the FBI by the Partnership for Civil Justice Fund reveal, as the New York Times put it, that “the [FBI] used counterterrorism agents to investigate the Occupy Wall Street … Read more

‘Shadow’ Inventory Overhyped as Housing Threat (IMHO = FALSE)

‘Shadow’ Overhyped as Housing Threat It’s been a hard year to be a housing bear. U.S. housing markets finally came alive in 2012, with home sales and housing starts up strongly. And prices are on track to end the year in positive territory for the first time since the downturn began in 2006. S&P/Case-Shiller home-price … Read more