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Archive for October, 2010

The Economic Elite VS The People of the United States: Trillions of Dollars in Stolen Money, Criminal Activity Straight Up Mafia Rule

27 Oct

Max Keiser brings us another dose of David DeGraw. Billionaires increased their aggregate wealth by 50% during this crisis. 50% of children in the US depend on Food Stamps to eat. The system is rigged. There was a financial coup in this country. We need to start organizing ourselves. We need to take action. We […]

 

The Name of the Crisis is FRAUD: James Galbraith Lays It Out in Plain Daylight

27 Oct

Dusseldorf. Fraud. Financial Fraud This speech is actually going to be very familiar to everyone who has known us for any period of time. But this time, it’s not US saying it.  It’s James Galbraith – a famous and well known economist who is daring to speak the truth. Don’t miss one word of his […]

 

Multiple Pledges, Multiple Sales, Multiple Buyers: How Did The Banks Do It?

26 Oct

Washington’s Blog brings this great piece to nakedcapitalism as a guest post and this one is deep. But worth it. Read the entire careful detail of how the scam is run -it will make a few lights go on – we are sure you will agree. These answers are coming from the top economic minds […]

 

Stiglitz Speaks and We Get Closer To the Truth: Throw the Criminals in Jail

26 Oct

After the recent Bill Black piece on Ratigan, it seemed only right to bring the rest of the story from Stiglitz.  Clearly these two men see eye to eye:  Rule of Law and Reinstate Trust in the Justice System. “The pledge of allegiance says “and justice for all” – Stiglitz points out, after explaining the […]

 

William Black and Lisa Epstein on Dylan Ratigan: Stop the Fraud, Stop the Foreclosures

25 Oct

It is really quite refreshing to have some real news coverage on the main stream media – we have no idea, really, how or why it is happening, but we welcome it. The ho hum news about Bank of  America and the errors they are finding (they say 4% error rate – we say no […]

 

Not Mere Paperwork Say Masaccia, Smith

25 Oct

hmmm hmmmm hmmmmm The plot sickens… Masaccio: Foreclosure Fraud Isn’t Mere Paperwork from naked capitalism by Yves Smith By masaccio, first posted at FireDogLake. Yves here. Note that masaccio uses “indorsed” when laypeople would use “endorsed”. For some weird reason, in bankruptcy matters, the term of art is “indorse”. To masaccio’s post: The administration and […]

 

Yves Addresses the Peculiar Case of the Putback Letter to Countrywide a Little More Deeply

25 Oct

Digging deeper into the whole blackrock, NY Fed, pimco putback letter to countrywide… You’ll need to get all the way through this piece here to get to the heart of the matter; from breaking it out of a he-said/she-said clusterf**k to legal issues of standing and venue it isn’t as simple or as direct as […]

 

Bill Black Might Say FDIC Needs to Act, but The Prez Says ‘Nothing to See Here Folks” Same Old Same Old from the Administration

25 Oct

This is why we love Yves Smith. She is so unpolitical, so direct and so honest. No matter what side the crap is falling out on. No one gets a pass. And that is exactly what is wrong with the Obama administration: they have consistently given the banks a pass – on EVERY opportunity. “Servicers […]

 

What Commercial Real Estate Collapse? THe FED Hides and Bails as Hard and Fast as Media Fails to Report it

25 Oct

Oh – the commercial real estate market is FINE – the banks just roll the loans over and the FED buys them up on the hush hush. Shhhhhhhh no one tell, okay?  It’s really not that bad… NOT. From MyBudget360: Fed extends a helping hand to Hilton Hotels and takes over malls across the country […]

 

Bank Bravado Lacking Substance: Thousands of Foreclosures Halted in NYC for Inaccuracies

25 Oct

Bank of America, so full of bluster and brimming with boasts that their processes are all fine, nothing to see here people, move along, move along. Here is what we love the most about this: it is the New York courts that required the attorneys representing the banks to sign on the dotted line for […]