Wednesday 4th December
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Re-Default Redoux… The Debate Over Loan Mods is as Stupid as Ever.
Written on 5 Nov, 2013 at 19:38
Another SIGTARP report shows Treasury knows nothing about loan modifications. Big surprise. Look, stop bothering Treasury... they don't want to know, so leave them alone. ... (Continue reading)
Spire Law Group’s Mass Torte Lawsuit Seeks $43 Trillion from Banks – Former AG Says it’s a FRAUD
Written on 26 Oct, 2012 at 21:43
They call it a "mass torte," but it can also go by the name "mass joinder," or "multi-plaintif," or whatever other term d'art it might be using tomorrow, but no matter what it's called, the person calling to tell you... (Continue reading)
Former SIGTARP Neil Barofsky – The Last Honest Man in Washington – A Mandelman Matters Podcast
Written on 14 Sep, 2012 at 11:25
Settle in and get ready to hear the real inside scoop on how Washington works and too often doesn't. It may cause vomiting and probably shouldn't be listened to if you have a heart condition... I'm really not sure.... (Continue reading)
PREVIEW: Neil Barofsky talks BAILOUT on a Mandelman Matters Podcast
Written on 3 Aug, 2012 at 1:34
Neil Barofsky is a name I'll never forget, and it won't be hard for anyone to understand why that's the case when I tell you the reason why. Neil was the Special Inspector General for the Treasury's Troubled Asset... (Continue reading)
Neil Barofsky and American Banker Finally Catch Up to Mandelman Matters
Written on 15 Dec, 2011 at 19:54
No one helps those who don't help themselves. We need to be WE... and now. Because as long as the country believes that irresponsible borrowers are the problem, nothing will change for borrowers... not enough lawyers will join... (Continue reading)
GOT ONE! Jury Convicts Taylor Bean’s CEO Farkas of Bank, Wire, Securities Fraud and Conspiracy
Written on 20 Apr, 2011 at 9:59
Soon, the hole grew to over $100 million, so Taylor Bean and a handful of Colonial executives figured that the easiest thing to do would be for Taylor Bean to simply sell hundreds of millions in mortgages THAT HAD ALREADY... (Continue reading)
Republicans Preparing to Play Politics With HAMP
Written on 31 Jan, 2011 at 7:17
So, just curious... who woke up the House Republicans, a group who have otherwise been fast asleep these last two-plus years, at least as far as the foreclosure crisis is concerned. In point of fact, over the last two... (Continue reading)
California Appeals Court Rules Homeowners Can Sue Banks for Fraud Over Broken Loan Modification Promises
Written on 29 Jan, 2011 at 9:36
See... this is an excellent example of why I'm starting to think we've become too civilized a society. I was born back in Brooklyn, New York, I mostly grew up in Pittsburgh, and my wife's from the City... (Continue reading)
AMERICA LOST: Treasury’s meetings with bloggers tells a story that I didn’t want to hear.
Written on 30 Aug, 2010 at 10:34
It made me sad to know what Treasury Department officials had said about the foreclosure crisis and HAMP... very, very sad. In fact, I can't think of another time in history when my government acted as these guys have... (Continue reading)
Apparently Europeans Handle Bad News Better Than We Do
Written on 26 Jul, 2010 at 17:49
Because, believe it or not, not everyone agrees with our Treasury Secretary, or our President for that matter, when they say that our economy is "on track". In fact, many think that quite the opposite is the case, and... (Continue reading)
Barofsky’s Report: Taxpayer Support for Financial Sector Now $3.7 Trillion
Written on 24 Jul, 2010 at 5:47
Taxpayer support for the financial system grew by $700 billion last year, and has now reached roughly $3.7 trillion, including TARP, Federal Reserve programs, asset guarantees and federal bank deposit insurance, among other commitments. ... (Continue reading)
Obama Administration to Announce Expansion of HAMP – Principal Reductions and Help for Unemployed
Written on 25 Mar, 2010 at 20:33
On Friday, the White House is expected to announce an expansion of the president's Making Home Affordable loan modification program to include reducing the mortgage loan balances for some homeowners, and providing additional temporary assistance to unemployed homeowners. ... (Continue reading)
Did I say HELP? I didn’t mean help. I meant OFFER to HELP. Or talk about helping. It depends on your definition of HELP.
Written on 24 Mar, 2010 at 23:53
When Obama introduced Making Home Affordable he claimed that the program would help 3-4 million homeowners, but as it turns out, the program has at best helped... and I use the term "helped" very loosely... about 170,000 homeowners to-date. ... (Continue reading)
$23.7 TRILLION
Written on 22 Jul, 2009 at 0:29
It occurs to me that transparency is not something you should need to provide. As long as you don't add any opacity, you'll have transparency, no? ... (Continue reading)
Obama Administration is Drawing Up Plans to Disclose Conditions of Biggest Banks
Written on 15 Apr, 2009 at 22:44
Here we have a senior official who declined to speak on the record because: "the extent of the disclosures were still being debated?" Were they now? By the Obama administration? Now that's transparency. Change I can Goddamn... (Continue reading)