Hat tip to J for passing this one along to us; MERS in the spotlight on the Foreclosure Issue: We have uploaded and linked to the full deposition locally at the end of this article. This piece from Livinglies.wordpress.com make it very clear just what the underlying reality is when it comes to MERS. Hmm; [...]
Introduction
This site is dedicated to providing historical and current education and information about the US banking system, banks, and their relationship to the lives and well being of the people of the United States and around the world.
- We suggest you start right at the top: #1 Need to Know: From the Front Lines In the Banking/Mortgage Meltdown What’s really going on out there on the front lines.
- Or,to directly to the video below and start with these powerful short video interviews of William Black on the Mortgage Control Fraud of the Lenders:
Bill Black: To Rob a Country, Own a Bank
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MyBudget360 Covers the FDIC Quarterly Report Out This Week: Holding on by a Thread.
02
Sep
FDIC holding banking system by a thread – $13.2 trillion in assets backed by -$15.2 billion Deposit Insurance Fund. 19 Banks hold 50 percent of all banking assets out of 7,830 institutions. What needs to be done to restore the banking system for the American public. Posted by mybudget360 in FDIC, bailout, banks, bubbles, debt, [...]
The Doctor is in: Dr. Housing Bubble on Mozillo and the Toxic Option Arm: Still Running its Course as Mozillo Stands Trial for Fraud
01
Sep
As we’ve been saying for some time, Option Arms are just one of the many crazed loans created in the bubble – but Option Arms have a special distinction because they are actually NEG AM (the principle keeps growing every month) and killing the equity ratios of homeowners. Thanks again to Dr. Housing Bubble for [...]
William Black on Naked Capitalism: Theoclassical Law and Economics Makes The Law an Ass
31
Aug
William Black: Theoclassical Law and Economics Makes the Law an Ass from naked capitalism by Yves Smith 3 people liked this By William K. Black, Associate Professor of Economics and Law at the University of Missouri-Kansas City and author of The Best Way to Rob a Bank is to Own One One of the great [...]
Mandelman Covers Treasury’s Message to Bloggers: H.A.M.P. was never MEANT to Stop Foreclosures, only to ‘slow them down’…
31
Aug
Really? H.A.M.P. was never designed to save homes from foreclosures? It was designed to help the banks? Really? Wow; you sure could have fooled us… based on the results… NOT! AMERICA LOST: Treasury’s meetings with bloggers tells a story that I didn’t want to hear. I talk to a lot of homeowners from all over [...]
Bill Black on Why Cover ups of Fraud Impair Recovery
31
Aug
Why Covering up Fraud Losses Impairs Economic Recovery. Part One. Part One: The Unbearable Lightness of the Accounting Cover Up Bad bankers, bad regulators, and bad politicians love to cover up losses, fraud, and bank failures. The snake oil peddlers pushing for a cover up scream that if losses are recognized capitalism will collapse. Recognizing [...]
Michael Krieger on Max Keiser: The Elite Have Lost Their Right to Rule
29
Aug
Guest Post: The Elites Have Lost The Right to Rule from maxkeiser.com by Michael Krieger War is the growth hormone of the cancer that is big government. – Alex Jones A government always finds itself obliged to resort to inflationary measures when it cannot negotiate loans and dare not levy taxes, because it has reason [...]
Dr. Housing Bubble Gives The Straight Scoop on Why The Falling Housing Prices Will Help The Economy
28
Aug
5 reasons why falling home prices will be good for the economy – Higher homes values does not mean higher home equity, financial sector profits back up to 30 percent of all corporate profits, the mortgage debt equation. A recent report shows that 11 million homeowners with a mortgage are underwater with a deep red [...]
