Tag: mortgage

Arrrrrghhh !!!

As Lieberman deliberated, the new chair of the Democratic Senatorial Campaign Committee, Sen. Patty Murray (D-Wash.), told HuffPost that the party would consider supporting Lieberman if he returned to the fold.

http://www.huffingtonpost.com/…

Joe Lieberman,Senator Joe Lieberman

Joe & George the President


The feeling of ill will is mutual: Lieberman said during the health care debate that one reason he opposed a Medicare buy-in compromise was that progressives were embracing it.

Joe Lieberman and John McCain

Joe & John the Presidential Candidate




March 20, 2003

” What we are doing here is not only in the interest of the safety of the American people. Believe me, Saddam Hussein would have used these weapons against us eventually or given them to terrorists who would have. But what we are doing here, in overthrowing Saddam and removing those weapons of mass destruction and taking them into our control, is good for the security of people all over the world, including the Iraqi people themselves.”

http://www.lobelog.com/lieberm…

John McCain Joe Lieberman,McCain,Lieberman

Joe and John in Iraq


September 29, 2011.    10 years and 18 days after 9-11 attacks on NYC



” It is time for us to take steps that make clear that if diplomatic and economic strategies continue to fail to change Iran’s nuclear policies, a military strike is not just a remote possibility in the abstract, but a real and credible alternative policy that we and our allies are ready to exercise.

It is time to retire our ambiguous mantra about all options remaining on the table. It is time for our message to our friends and enemies in the region to become clearer: namely, that we will prevent Iran from acquiring a nuclear weapons capability — by peaceful means if we possibly can, but with military force if we absolutely must. A military strike against Iran’s nuclear facilities entails risks and costs, but I am convinced that the risks and costs of allowing Iran to obtain a nuclear weapons capability are much greater.

Some have suggested that we should simply learn to live with a nuclear Iran and pledge to contain it. In my judgment, that would be a grave mistake. As one Arab leader I recently spoke with pointed out, how could anyone count on the United States to go to war to defend them against a nuclear-armed Iran, if we were unwilling to go to war to prevent a nuclear-armed Iran? Having tried and failed to stop Iran’s nuclear breakout, our country would be a poor position to contain its consequences.

I also believe it would be a failure of U.S. leadership if this situation reaches the point where the Israelis decide to attempt a unilateral strike on Iran. If military action must come, the United States is in the strongest position to confront Iran and manage the regional consequences. This is not a responsibility we should outsource. We can and should coordinate with our many allies who share our interest in stopping a nuclear Iran, but we cannot delegate our global responsibilities to them.”

http://www.lobelog.com/lieberm…

http://lieberman.senate.gov/in…

Foreclosure Robo-Signers Play Dress Up To Fool You

(I know this, because Tyler knows this)

NEW YORK (AP) — In an effort to rush through thousands of home foreclosures since 2007, financial institutions and their mortgage servicing departments hired hair stylists, Walmart floor workers and people who had worked on assembly lines and installed them in “foreclosure expert” jobs with no formal training, a Florida lawyer says.

In depositions released Tuesday, many of those workers testified that they barely knew what a mortgage was. Some couldn’t define the word “affidavit.” Others didn’t know what a complaint was, or even what was meant by personal property. Most troubling, several said they knew they were lying when they signed the foreclosure affidavits and that they agreed with the defense lawyers’ accusations about document fraud.

http://finance.yahoo.com/news/…

Oh, it gets better, and you’ll get angrier…..

Grayson Untangles the Web of Fraud in the ‘Foreclosure Mills’

Citigroup, Ally Sued for Racketeering Over Database

Bloomberg

By Margaret Cronin Fisk and Thom Weidlich – Oct 4, 2010

Citigroup Inc. and Ally Financial Inc. units were sued by homeowners in Kentucky for allegedly conspiring with Mortgage Electronic Registration Systems Inc. to falsely foreclose on loans.

The lawsuit, filed as a civil-racketeering class action on behalf of all Kentucky homeowners facing foreclosure, also names as a defendant Reston, Virginia-based MERS, the company that handles mortgage transfers among member banks. The suit claims that through MERS the banks are foreclosing on homes even when they don’t hold titles to the properties.

[…]

The homeowners claim the defendants filed or caused to be filed mortgages with forged signatures, filed foreclosure actions months before they acquired any legal interest in the properties and falsely claimed to own notes executed with mortgages.

Forgery is No Joke.

Neither is being evicted, by Banks who ‘really don’t own’ your Home.

Disabled Vets, in Albuquerque NM, May Lose Homes

Disabled veterans facing eviction


08/10/2010 – A local non-profit that provides a home for dozens of vets is behind on its mortgage payment and if money doesn’t come soon, the apartment complex could shut down leaving many of its tenants homeless.

For the last five years, the local charity has been providing permanent housing in Northeast Albuquerque for mentally disabled vets who otherwise wouldn’t have a place to live. Now, the organization is $160,000 dollars behind on its mortgage and in danger of shutting down.

Thirty-seven mentally disabled veterans call the apartments home. Some of them used to be homeless.

Rest below fold.

Utopia 4: Movie Day

“The Gods of the Copybook Headings”

Then the Gods of the Market tumbled, And their smooth-tongued wizards withdrew And the hearts of the meanest were humbled And began to believe it was true That All is not Gold that Glitters, And Two and Two make Four, And the Gods of the Copybook Headings Limped up to explain it once more.

As it will be in the future, It was at the birth of Man. There are only four things certain Since Social Progress began: That the Dog returns to his Vomit And the Sow returns to her Mire, And the burnt Fool’s bandaged finger Goes wabbling back to the Fire;

And that after this is accomplished, And the brave new world begins, When all men are paid for existing And no man must pay for his sins, As surely as Water will wet us, As surely as Fire will burn, The Gods of the Copybook Headings With terror and slaughter return. Rudyard Kipling

[This, by the way, catches you up to the rest of the blog sites.  Submissions will be weekly from here out.–TP]

Dystopia 3: Detained

“Every citizen silently, but never the less certainly, sustains the government of the day in ways of which he has no knowledge. Every citizen, therefore, renders himself responsible for every act of his government.”

“No action which is not voluntary can be called moral….Any action that is dictated by fear or by coercion of any kind ceases to be moral….Freedom of the individual is at the root of all progress.”

Mahatma Gandhi

Mom, don’t try to save the world when your ass is on fire

Advice from my oldest son on the eve of suing Washington Mutual and their successor JPMorgan Chase. Follow me below the fold for why it is much more than playing it safe verses being on Olbermann and I need to have it all.

Black NJ: Bail Out Homeowners, Not Bankers

Saturday was a day for summing up Presidential Debate number one. It was also the day that members of New Jersey’s People’s Organization for Progress (POP) delivered a summation of their own. They had watched two presidential candidates stand in front of a huge national television audience, hemming and hawing about bailing the US financial system out of economic catastrophe and not saying a whole lot about how the country got in this mess.

So Saturday at one, two dozen POP members wearing their trademark yellow t-shirts rolled out at Broad & Market, the historic and commercial center of Newark, to say “Save Our Houses, Don’t Bail Out Billionaires.”

Want to see something scary?

Check out this very major piece of banking news that is currently flying under the radar, for the most part:

Fed Bends Rules to Help Two Big Banks

Excerpt:

NEW YORK (Fortune) — In a clear sign that the credit crunch is still affecting the nation’s largest financial institutions, the Federal Reserve agreed this week to bend key banking regulations to help out Citigroup (Charts, Fortune 500) and Bank of America (Charts, Fortune 500), according to documents posted Friday on the Fed’s web site.

The Aug. 20 letters from the Fed to Citigroup and Bank of America state that the Fed, which regulates large parts of the U.S. financial system, has agreed to exempt both banks from rules that effectively limit the amount of lending that their federally-insured banks can do with their brokerage affiliates. The exemption, which is temporary, means, for example, that Citigroup’s Citibank entity can substantially increase funding to Citigroup Global Markets, its brokerage subsidiary. Citigroup and Bank of America requested the exemptions, according to the letters, to provide liquidity to those holding mortgage loans, mortgage-backed securities, and other securities.

Summary: In contravention of the current rules, the Fed is letting two ginormous banks lend a total of up to $50 billion to their brokerage subsidiaries.

For some analysis on what this might mean, see this thread:

Ticker Forum – Oh oh – Banks in MAJOR trouble

Or from the left, if you prefer:

Democratic Underground – Fed Bends Rules

Serious talk of major panic and financial disruptions… Bank runs and government seizures even… Or at the least, dozens of billions of dollars in handouts to some of the ultra-rich  investors who might otherwise become just a little less rich over the next few months.

Personally, I don’t know enough about banking and finance to say whether this is basically a nonevent economically, or the beginning of the next depression.

But one thing this tells us for sure: The Fed is absolutely, 100% in the pockets of the richest folks in the world — all at the expense of the taxpayers.  Maybe that’s not huge news, exactly, but at this particular juncture in our economy, it is quite disturbing.

Probably worth contacting your congressperson about, at the very least.