Wednesday 4th December
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The Luckiest Bankers the World Has Ever Seen! And They’re Ours! Yay!
Written on 3 Jun, 2011 at 3:35
Assuming you were such an adept trader of securities that you had a 70% probability of making money on any given trading day, which would, by the way, pretty much make you a God of Wall Street... the odds that... (Continue reading)
HUD Investigation Shows Banks Covered Up Widespread Illegal Acts – Government offers to bring them their check and validate their parking
Written on 19 May, 2011 at 2:01
According to Shahien's story in HuffPo, the secret investigations were initiated in response to last year's reports, which indicated that large lenders were improperly accelerating foreclosure proceedings... or, in other words... look who just figured out that robo-signing affidavits and... (Continue reading)
The Care Bair – FDIC’s Sheila Bair Wants Principal Reductions from Banks With Loss Sharing Agreements
Written on 12 May, 2011 at 6:22
I know... you think not modifying those loans is punishing the homeowners for getting in over their heads... but in realty, it's not punishing them... it's punishing you... you are running about, commenting on blogs, advocating the kicking of your... (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)
Mandelman on the News Dissector Radio Show
Written on 29 Jul, 2010 at 3:27
My goodness, I've been doing quite a few radio programs on the foreclosure crisis and loan modifications and the economy lately, have you noticed? I really like doing the radio show thing, it's a lot easier than writing long,... (Continue reading)
Greenspan Says Housing is Nowhere Near Bottom
Written on 26 Jul, 2010 at 22:13
It's amazing how different it is when you're the Chairman of the Federal Reserve, as opposed to being the retired Chairman of the Federal Reserve. ... (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)
Elizabeth Warren on the Foreclosure Crisis
Written on 19 Jul, 2010 at 8:58
Elizabeth Warren: "It's about respect. I believe that the American people ought to be part of the conversation about what's happening in our economy, and what's happening in Washington D.C. and what's happening on Wall Street. I truly... (Continue reading)
The Banksters: Lloyd Blankfein, John Mack, Vikram Pandit, Jamie Dimon, Brian Moynihan, Et Al. Have we forgotten what lying is?
Written on 9 Jun, 2010 at 14:50
Apparently, data released by the Federal Reserve Bank of New York shows that 18 banks, including those listed above of course, have been lying about their levels of debt that are used to fund their trading of securities at the... (Continue reading)
Nina Easton’s HOT Stocks for Homeowners Losing Homes
Written on 1 Jun, 2010 at 5:42
No, folks... the good news for our emerging foreclosure industry, and for my new Empty Homes Hi-Yield Bond Fund, is that our government has failed at every single turn in trying to stem the tide of foreclosures in this country,... (Continue reading)
Books That Matter: Crisis Economics, by Nouriel Roubini & Stephen Mihm
Written on 30 May, 2010 at 20:59
Roubini explains things I didn't previously understand, such as the details of Federal Reserve Chairman Ben Bernanke's and Treasury Secretary Geithner's response to the meltdown. Oh, I knew some of what those two had done, but not enough in terms... (Continue reading)
Banks Lobbying, Financial Reforms & Who’s Recovering?
Written on 16 May, 2010 at 18:07
Like the flying monkeys from the Wizard of Oz, they've been summoned by the bankers to our nation's capital; flying in from around the country until they hit the steps of the U.S. Capital building... when they're transformed into lobbyists... (Continue reading)
My Year in A-Trance: What I’ve Learned About Loan Modifications
Written on 4 May, 2010 at 1:50
Why the banking lobby starts to look downright puny next to millions of American homeowners all shouting at the same time... "Congress better take note! We intend to use our VOTE!" Yep, after that the foreclosure crisis would... (Continue reading)
Today’s Weather in India – Low 80s, Not a Cloud in the Sky.
Written on 25 Jan, 2010 at 3:00
So, I bet you're wondering how this whole thing happened. Funny story... I was actually trying to get my mortgage modified and since President Obama announced that there was now a fabulous government help-line phone number I could call,... (Continue reading)
The People of the United States v. Wall Street’s Bankers
Written on 6 Dec, 2009 at 21:48
As I've watched the economy deteriorate over the last two years, I have been amazed and bewildered at our government's response, or lack thereof. And the more I've learned, the worse I've felt about our ability to fix what... (Continue reading)
THE JURY IS IN: Obama’s Foreclosure Program Run by Morons… and Trial Modifications are the Biggest Loan Mod Scam Ever
Written on 3 Dec, 2009 at 19:11
I don't know about you, but 1700 out of 650,000 makes me want to believe that the 1700 were mistakes that slipped through. It makes more sense to think that the HAMP program was designed to create foreclosures... and... (Continue reading)
See, That’s What I’m Talking About – Banks are Broke & Broken
Written on 20 Oct, 2009 at 21:10
According to FDIC, the program was established a year ago at the height of the financial crisis, and was intended to "help thaw the freeze in bank-to-bank lending," and it's obviously been very effective in that regard. Mark that... (Continue reading)
July’s Issue of The Niche Report… Bringing Up the Rear: FDIC Chair Sheila Bair
Written on 9 Jul, 2009 at 15:42
In case you don’t already know, I wrote the cover story for the May issue of The Niche Report magazine, titled “Pigs, Puppets & People in Peril – The Administration’s Curious Case Against Loan Modification Firms”. And it was really... (Continue reading)