Posts under ‘They Said What!’

Some excerpts from the complaint are below. But it seems that MERS business model is and was built on fraud. As such this complaint is of great interest to anyone who has faced or is facing foreclosure. Read on, Caleb AKA The Rich Pig The whole purpose of MERS is to allow “servicers” to pretend [...]

Glenn Beck’s Gold buying advice, or how to go broke in a hurry.

Lehman’s nominal corporate governance structure was a sham. Lehman was deliberately out of control with regard to “risk” in its dominant operation – making “liar’s loans.” Lehman did not “manage” the risk of making liar’s loans. It engaged in massive, fraudulent transactions that were “sure things”.

After the Inspector Generals issue their report on a failed bank we find that the regulators in the field did their jobs, identified problems and reported them to their superiors who then failed to act this failure to act goes back to about 2003.

Fed + The Banks + Average American = The Con Job, As explained by Dylan Ratigan Dylan Ratigan, The Con Job Source: MSNBC | Dylan Ratigan

Despite two lawsuits filled by Bloomberg and the Fed fighting disclosure every step of the way, so much for then Treasury Secretary Hank Paulsons fine words regarding transparency, the Fed was forced to disclose exactly what it had done with some of our tax Dollars.

An interesting perspective on the current fiasco. None of the material is really new nor are their any surprising revelations but Michael Lewis and Steve Kroft do a good job with the presentation. A handful of Wall Street outsiders who realized the sub-prime mortgage business was a house of cards and found a way to [...]

“Wall Street thrives and makes money in inefficient markets”. Or in plain English by being sneaky.

Stocks struggled into the final hour on mixed economic data. For the week the DOW has gained about 50 points or ½% while the NASDAQ has picked up 30 points or some 1.5%. The ECRI Weekly Leading Index continues to slip as the smoothed annualized growth rate fell to 19.7 last week, while the Index [...]

Stocks moved higher in late trade on ostensibly good news. Initial claims for unemployment took a surprise drop of 43,000 to 440,000 last week, a volatile series, the more reliable 4-week moving average fell just 1,000 to 468,500. RealtyTrac reported a nearly 10% decline in foreclosure activity during January to 315,716 events. From a year [...]