Robo-Signed | Obama Uses Autopen to Sign Cliff Bill

Obama uses autopen to sign cliff bill (CNN) — President Barack Obama has signed into law a bill to avert the fiscal cliff, a day after the House and Senate approved the much-debated legislation. Obama, who returned to his family vacation in Hawaii after Tuesday’s House vote, signed the bill via autopen on Wednesday. But … Read more

Unraveling the Freddie-Fannie Tangle

Unraveling the Freddie-Fannie Tangle by Jesse Eisinger and Cora Currier ProPublica In the aftermath of the financial crisis, American taxpayers poured $187.5 billion into two huge but poorly understood companies: Freddie Mac and Fannie Mae. Now controlled by the government, the companies play an even larger role in the economy than they did before the … Read more

What’s Inside America’s Banks?

What’s Inside America’s Banks? Some four years after the 2008 financial crisis, public trust in banks is as low as ever. Sophisticated investors describe big banks as “black boxes” that may still be concealing enormous risks—the sort that could again take down the economy. A close investigation of a supposedly conservative bank’s financial records uncovers … Read more

The American People are the Big Losers In The Cliff Deal

The Big Winners:  Big Banks and Big Companies The “fiscal cliff” deal will raise taxes for 77% of the American public. It will add $4 trillion dollars to the deficit over the next 10 years. It will create a drag on the economy equal to 1% of the gross domestic product. It creates uncertainty in … Read more

Homeowner Tax Cut Extended; Forgiven Mortgage Debt Excluded From Taxable Income

Homeowner tax cut extended; forgiven mortgage debt excluded from taxable income Homeowners (Nationwide) have one more year to complete a short sale and benefit from a federal tax break that was set to expire Tuesday. Tucked into the 157-page legislation that saved the nation from the worst of the fiscal cliff is an extension of … Read more

Another AG Bought Off!!! Outgoing Utah A.G. Says there’s No Link Between His Support of BofA Fraudclosure Settlement and His New Firm Having Bank as Client

“To me this appears to be some type of a midnight pardon,” Bates said. “It certainly sends a confusing message to the public and to the courts and the 10th Circuit as to why the chief law enforcement agency in the state is dismissing its claims in defense of the laws of the state.” ~ … Read more

Pending Foreclosure Fraud Settlement Achieves New Level of Abject Regulatory Failure

Pending Foreclosure Fraud Settlement Achieves New Level of Abject Regulatory Failure Before we get any further, we need to stress how patently ridiculous these cost claims are. Notice that one of the things that this review process claims to be doing is reviewing whether borrowers were charged incorrectly. Reviewing the loan files is not going … Read more

Locksmiths Say They’ll No Longer Assist With Evictions

Locksmiths say they’ll no longer assist with evictions Spanish banks looking to foreclose on delinquent mortgage owners in and around Pamplona will no longer have the assistance of the community’s locksmiths. Last month, they announced they would no longer change the locks on people banks want to evict. In Spain, in 2012, more than 50,000 … Read more

Housing Long-Term Outlook Is `Fuzzy,’ Shiller Says (VIDEO)

Housing Long-Term Outlook Is `Fuzzy,’ Shiller Says Dec. 27 (Bloomberg) — Robert Shiller, a professor at Yale University and co-creator of the S&P/Case-Shiller index of property values, talks about the outlook for the U.S. housing market. He speaks with Sara Eisen on Bloomberg Television’s “Surveillance.” (Source: Bloomberg) ~ Tweet