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Archive for October, 2010

Fraud Caused the Crash of 1929 and The Great Depression & It Caused the Economic Crisis We Are in Today

31 Oct

Washington’s Blog covers the fraud which has brought us here, yet again… In the present crisis, as Mr. Black points out, “The decisive role that “accounting control frauds” played in driving the current crisis is clear.” Fraud Caused the 1930s Depression and the Current Financial Crisis from Washington’s Blog by George Washington Robert Shiller – [...]

 

Yves Smith/NakedCapitalism New York Times Op/Ed

31 Oct

Congratulations to nakedcapitalism on today’s New York Times Op Ed: Our New York Times Op-Ed: How the Banks Put the Economy Underwater from naked capitalism by Yves Smith 2 people liked this Several regular readers were kind enough to send congratulatory e-mails on our New York Times op-ed, which appears in the Sunday edition. I [...]

 

The FED’s Idea of A Good Time: Higher Commodity Prices for All?

31 Oct

Zero Hedge takes us down the slippery slope of FED/FRB ‘logic’; a place difficult to go, and nearly impossible to make sense of – [perhaps, unless one sees it as the trail to complete destruction of the US dollar some accuse the FED of being all about] on the trail of any justifiable argument for [...]

 

False Affifavits “Replacement”? Ohio AG Says “Not So Fast” OR Have You Heard of the Law Mr Banker? Answer: No.

30 Oct

Perfection is. Ohio Attorney General Guts Bank “Just Submit New Affidavits” Plan from naked capitalism by Yves Smith 1 person liked this We have pointed out several times that banks were being awfully optimistic in assuming that they could simply replace improper “robo signed” affidavits with ones that were done correctly. The submission of a [...]

 

MyBudget360 Delivers: No Recovery, No Housing Recovery; No Jobs, No Recovery

30 Oct

No jobs, no recovery. No recovery, no stop to foreclosure. Pay attention to this math. Finance is in control and we need due process. That is what we need, and have the power to bring. Shipping the housing market overseas. Long-term housing prospects hinge on an economic recovery for working Americans first – No housing [...]

 

JP Morgan Chase May be Worst of all – Or at Least as Bad as All the Others –

30 Oct

JP Morgan – a real example of the evil doers doing what they do best: screwing the borrower no matter what else they may be doing.  Proceed with the foreclosure and waive all rights – just to get the borrowers to agree that they are screwing themselves – sure – that is what they do… [...]

 

Must Read: Ellen Brown “We Need a New Theory of Money”

30 Oct

This is an EXCELLENT piece and holds a lot of truthful information that many of our readers simply do NOT know: it addresses the issue of gold and silver backed money and how it came into being and that it also came into being late in the history of money – and may very well [...]

 

Yves Smith: Will the AGs Slay This Dragon? – Doubltful

30 Oct

The Federal government not being helpful is expected at this point – but the question of the states may be another matter – at least a few of the AGs are serious about enforcing the law; the question is whether thay will be enough – and if the rest of them will step up to [...]

 

Market Ticker: SEC “Urges” Banks to Follow the Law… Sure, Why Not?

30 Oct

What a novel idea – banks following the law… Well, the SEC must be feeling quite proud of itself, to be so bold as to suggest that banks might want to follow the rules… sheesh. The SEC “Urges” Banks To Follow GAAP And The Law You have to love this…. Oct. 29 (Bloomberg) — The [...]

 

SIGTARP: Tell a Big Enough Lie and People Will Believe It.

27 Oct

Plenty of rescue the bank initiatives to the benefit of financiers: We’ kept the banks alive and killed the people… As the people at the top feign powerlessness they hand over the power and the life blood of the American people to the banksters who drain the last drop before leaving the people on the [...]