Credit Writedowns » law

Anecdotes of Mortgage Fraud

Randall Wray — Fri, 09 Mar 2012 20:00:00 +0000

Appraisers are pursuing class action suits against banks, asserting they were blacklisted if they refused to engage in fraudulent appraisals. The problem is that if they win, they are then subject to suit by homeowners (who are losing their homes) since they overpaid, and got mortgage loans that were far too high relative to “fundamentals”

Credit Writedowns Pro is live. Sign up today for premium content.
Anecdotes of Mortgage Fraud originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

FBI warns of mortgage fraud ‘epidemic’: Seeks to head off ‘next S&L crisis’ 30 Mar 2010
Mortgage fraud indictments result from media investigation 17 Mar 2010
Bank Holiday is Best Solution for Epidemic of Mortgage Fraud 15 Oct 2010

Is US democracy being bought and sold?

Edward Harrison — Mon, 06 Feb 2012 13:05:03 +0000

The answer is yes. video below

Credit Writedowns Pro is live. Sign up today for premium content.
Is US democracy being bought and sold? originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts No related posts.

Obama Administration propaganda on prosecuting elite financial frauds

William Black — Thu, 02 Feb 2012 14:00:47 +0000

The Obama administration’s record of prosecuting elite financial frauds is worse than the Bush administration’s record, which is a very large statement. Neither administration has prosecuted any elite CEO for the epidemic of mortgage fraud that drove the ongoing crisis. This contrasts with over 1,000 elite felony convictions arising from the S&L debacle. The ongoing crisis caused losses more than 70 times greater than the S&L debacle and the amount of elite fraud driving this crisis is also vastly greater than during the S&L debacle

Credit Writedowns Pro is live. Sign up today for premium content.
Obama Administration propaganda on prosecuting elite financial frauds originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Chart of the Day: Bank credit card fees induce big antitrust lawsuit

Edward Harrison — Fri, 13 Jan 2012 01:30:30 +0000

So why are these big name retailers suing the big banks. It's this chart that appears to be the smoking gun. Credit card interchange fees are the highest by a large margin. Clearly those charges that go into the bank and credit card companies' coffers are either absorbed by retailers or passed on to consumers

Credit Writedowns Pro is live. Sign up today for premium content.
Chart of the Day: Bank credit card fees induce big antitrust lawsuit originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Video: Jon Stewart on credit card reform 25 Feb 2010
AMEX credit card trouble deepens bank worries 25 Jun 2008
More credit card writedowns are coming 1 Apr 2009

Playing Chicken And Rooster With Hungary

Edward Hugh — Fri, 13 Jan 2012 00:15:15 +0000

Tension surrounding the application of a series of so-called “unorthodox policies” by Hungary’s Fidesz government has certainly been rising in recent days. While Washington has been reasonably quiet as government emissary Tamas Fellegi meets with top IMF officials, Brussels has seen a veritable avalanche of official statements and policy initiatives. Despite constant rumours that an agreement with the IMF is near, I find it pretty implausible that any deal can be reached without some kind of EU assent. At the present time this assent is unlikely to be forthcoming, and indeed the ”ante” has been pushed up and up

Credit Writedowns Pro is live. Sign up today for premium content.
Playing Chicken And Rooster With Hungary originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Hungary Downgrade Risk Remains Alive, Stay Short HUF 3 Nov 2010
Hungary Developments Are Worrisome 24 Nov 2010
Hungary Gives Markets A Dose Of Reality, Go Short HUF 15 Oct 2010

The SEC’s Day in Court

Frederick Sheehan — Wed, 30 Nov 2011 23:51:26 +0000

Judge Jed S. Rakoff of the United States District Courts of the Southern District of New York struck a blow against the Securities and Exchange Commission and in support of the "public interest." The Securities and Exchange Commission had asked the Court to approve a Consent Judgment between Citigroup and the S.E.C. Judge Rakoff (cutting to the chase) wrote he could not do so

Credit Writedowns Pro is live. Sign up today for premium content.
The SEC’s Day in Court originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

In defense of the SEC — no, really 14 Nov 2011
Citigroup gets $7.8 Billion for Japanese unit 1 May 2009
Citigroup and Redecard: shedding international assets 25 Feb 2009

The relevant articles of the Lisbon Treaty for the sovereign debt crisis

Edward Harrison — Thu, 10 Nov 2011 04:00:00 +0000

Since everyone is talking about sovereign deficits, austerity and the ECB’s duties and legal limitations, let’s go straight to the Lisbon Treaty text. Below are the most relevant parts of the Lisbon Treaty governing how the EU is supposed to operate legally (Title VIII - Economic and monetary policy, Chapter 1 - Economic policy (Articles 120-126) and Articles 127, 130 pertaining to the ECB). I have underlined the parts that pertain most clearly to ECB intervention in the sovereign bond market. The sole comment I would make is that the EU has already invoked article 122b to bail out Greece, Portugal and Ireland and it is now buying sovereign debt in secondary markets despite Article 125. How much further can or will the EU go to “decide measures appropriate to the economic situation… if a Member State is in difficulties or is seriously threatened with severe difficulties caused by natural disasters or exceptional occurrences beyond its control”? You tell me. That’s what this crisis is all about

Credit Writedowns Pro is live. Sign up today for premium content.
The relevant articles of the Lisbon Treaty for the sovereign debt crisis originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Ireland votes No on Lisbon Treaty 13 Jun 2008
If Greece left the euro zone, it would have to leave the EU 3 Nov 2011
Text of Irish Government and EU Statements on Irish Bailout 22 Nov 2010

You Sexy M.F.

Edward Harrison — Wed, 02 Nov 2011 00:45:49 +0000

Here are a bunch of videos and links which update you on MF Global

Credit Writedowns Pro is live. Sign up today for premium content.
You Sexy M.F. originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts No related posts.

Lenders now suing for mortgage debt after foreclosure

Edward Harrison — Tue, 04 Oct 2011 12:00:24 +0000

The statute of limitations is five years for default. That means banks still have until the beginning of 2012 to sue a strategic defaulter from early

Credit Writedowns Pro is live. Sign up today for premium content.
Lenders now suing for mortgage debt after foreclosure originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Wow, judges now nixing lenders’ foreclosure claims entirely in court 25 Oct 2009
What are the legal rights of lenders and homeowners in foreclosure? 23 Oct 2009
Foreclosure crisis much deeper than robo-signers 10 Oct 2010

The FHFA Complaints and Control Fraud

William Black — Wed, 07 Sep 2011 19:30:41 +0000

The FHFA complaints lose explanatory power and persuasiveness because they ignore compensation and accounting. It pays to understand accounting control fraud

Credit Writedowns Pro is live. Sign up today for premium content.
The FHFA Complaints and Control Fraud originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

FHFA Sues 17 Firms to Recover Losses to Fannie Mae and Freddie Mac 2 Sep 2011
Countrywide Control Fraud, Inch Deep Prosecution 28 Feb 2011
No Crisis Here 19 Jul 2011