Private Wall Street Companies Caused The Financial Crisis – Not Fannie Mae, Freddie Mac Or The Community Reinvestment Act

Private Wall Street Companies Caused The Financial Crisis — Not Fannie Mae, Freddie Mac Or The Community Reinvestment Act In the four years since the housing bubble burst, triggering a collapse in global financial markets whose value had been propped up through the repackaging and trading of home loans via complex financial instruments, there’s been … Read more

A Must Read | The Collapse of Our Corrupt, Predatory, Pathological Financial System is Necessary and Positive

“This is how we get hundreds of trillions of dollars in “notational” derivatives: every hedged is hedged with another “instrument,” “products” are bundled and insured, and so on. The system is based on the principle that risk can be reduced to zero, and so there is no need for capital.” ~ If anyone who reads … Read more

Foreclosure Fraud Review Begins Today by Homeowner Request

“I’m skeptical of any program implemented by the banks and servicers to examine their prior errors, omissions and intentional or unintentional criminal acts” ~ Foreclosure review begins today by homeowner request A massive review of as many as 4 million foreclosures nationwide began Tuesday as mortgage servicers seek out borrowers whose cases contain flaws. The … Read more

Wrong People Arrested on Wall Street | Goldman Boss: ‘Thought They Were Finally Coming for Us’

Wrong People Arrested on Wall Street Goldman Boss: ‘Thought They Were Finally Coming for Us’ NEW YORK (The Borowitz Report) – Millions of Americans cheered the news on Friday that arrests had finally been made on Wall Street, but were soon disappointed to learn that the wrong people had been taken into custody. “I was … Read more

Bank of America Boldly Informs Florida Law Offices “BofA Will No Longer Follow Florida Laws”

BoA Boldly Informs Florida Law Offices “BoA Will Not Follow Florida Laws” Posted by L This just in from my friend H: Get a load of this.  BoA is telling law offices in the State of Florida, that our laws for service of process no longer apply to it. Under Florida law, if a foreign … Read more

Freddie Mac Loan Deal Defective, Report Says

Freddie Mac Loan Deal Defective, Report Says Freddie Mac used a flawed analysis when it accepted $1.35 billion from Bank of America to settle claims that the bank misled it about loans purchased during the mortgage boom, according to an oversight report scheduled for release on Tuesday. The faulty methodology significantly increased the probable losses … Read more

Florida Courts Could Still Run Short of Funds, Unable to Pay Bills

It still amazes me that the courts in Florida rely on foreclosure filings for their funding. Talk about conflicts of interest. ~ Courts could still run short of funds By Gary Blankenship Despite a $54 million loan to begin the 2011-12 fiscal year, Florida courts still face the prospect of running out of money because … Read more

Fight Eviction | SJC Expands Right to Challenge Bank Seizures

SJC expands right to challenge bank seizures The state’s highest court has ruled that people fighting eviction from homes they lost to foreclosure can challenge the validity of a property seizure in housing court after the fact, a decision that housing rights advocates are calling a major victory. The Massachusetts Supreme Judicial Court’s unanimous ruling, … Read more