Tonight’s episode of NBC Evening News reports on one of the largest yet bailouts….the bailout of Fannie Mae and Freddie Mac.
NBC news reports that more than half of the mortgages in the US are owned or underwritten by the federal government…now consider that in the context of the foreclosure crisis.
Why should the obscene conduct being [...]
Tonight’s episode of NBC Evening News reports on one of the largest yet bailouts….the bailout of Fannie Mae and Freddie Mac.
NBC news reports that more than half of the mortgages in the US are owned or underwritten by the federal government…now consider that in the context of the foreclosure crisis.
Why should the obscene conduct being [...]
1) Today I lost a summary judgment hearing. I’ve got to tell you I’m sickened, not just for the sense of loss I feel, but more importantly for what I view as a real problem in the courtroom. My arguments were well founded and so were the dozens of other attorneys I saw in the [...]
64868?RS_show_page=0 EDITOR’S NOTE: How refreshing to see someone who approached this not with caution but with a desire for truth. Read this and you will understand a lot more about the Great Recession. “The “Pig in the Poke” scam is another key to the entire bailout era. After the crash of the housing bubble — [...]
Editor’s Note: The simple reasons for the failure of the Federal program are not just that they lack clearly defined goals; they lack clearly defined understanding of the problems of title and appraisal fraud. Homeowners are sitting with property that is (a) hopelessly underwater (b) with hopelessly clouded title and (c) hopelessly engaged in mandated [...]
EDITOR’S NOTE: LISTEN UP! It’s easy to pass over these reports with the thought that it merely points out chicanery you already knew was about. But this one confirms what I’ve been saying for three years. The best defense against any claim is to show payment. Normally if someone pays off your debt it is [...]
when two hedge funds run by the now-defunct Bear Stearns investment bank were in trouble, ICP agreed to buy $1.3 billion in bonds from the Bear funds. ICP did not have the money to accept the bonds immediately, so it agreed to accept them later on behalf of Triaxx C.D.O.’s. ICP was supposed to obtain [...]
Editor’s Note: The cost of taking over foreclosed homes greatly exceeds the principal reductions that are inevitable anyway. Either way the taxpayer foots the bill. As usual, big business and government have taxpayers paying the higher bill. Here is how the narrative ran. The trillion dollar banks and some “smaller” ones used all their influence [...]
TURNING A DEFENSE INTO AN AFFIRMATIVE DEFENSE FOR SET OFF AND A CLAIM OR COUNTERCLAIM FOR DAMAGES AND ATTORNEY FEES So the question is how would you allocate third party payments and what difference will that make to a Judge hearing the case. ASSUMPTION: XYZ Investment Banking Holding company has received a total of $50 [...]
Editor’s Note: While the courts hear arguments and decide this way and that about standing and real party in interest, the elephant in the living room is that we have highly publicized reports of LOSSES associated with more than $5 trillion in loans bought or guaranteed by Fannie and Freddie. That amounts to around 25 [...]
Practically all the questions I get relate to how to prove the case that the loan was securitized. This is the wrong question. While it is good to have as much information about the pool a loan MIGHT BE INCLUDED, that doesn’t really answer the real question. The real question is what is the identity [...]
Editor’s Note: Now the truth as reported here two years ago. There were no losses. They were making money hand over fist. And this article focuses only on a single topic — some of the credit default swaps — those that Goldman had bought in its own name, leaving out all the other swaps bought [...]
“the banks should not be allowed to be larger than the government’s ability to regulate them” If you ask someone about big government, they will probably tell you they don’t want government meddling in their personal business. What they really mean is that they don’t want ANYONE meddling in their lives. In reality, that opened [...]
Editor’s Note: Here is the problem. As I explained to a Judge last week, if Aunt Alice pays off my obligation then the fact that someone still has the note is irrelevant. The note is unenforceable and should be returned as paid. That is because the note is EVIDENCE of the obligation, it isn’t THE [...]
The number of homeowners in the Obama administration’s flagship foreclosure prevention program is growing, data released Wednesday show. Yet it’s not all good news.
Mortgage – Foreclosure – Presidency of Barack Obama – Bailout – United States
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