tagged w/ Plausible Deniability
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"Lenders don’t modify the loans of borrowers at risk of foreclosure because to do so would likely mean having to reduce the amount of money the borrowers owe the bank, and therefore could potentially end up costing the bank money."
Thats Right. After receiving taxpayer bailouts:
http://www.financialstability.gov/impact/contracts_list.htm
then using Credit Default Swaps to insure Leveraged Instruments:
http://www.globalresearch.ca/index.php?context=va&aid=8634
You can fool people most of the time....
Lets see if they also figured the last line out."Lenders don’t modify the loans of borrowers at risk of foreclosure because... more
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taps65
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3 years ago
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Some excerpts of the default data: on initially-current loans, Countrywide modified $87M of loans but 59% had re-defaulted within 10 months (this is the worst performance of initially-current loans). Wells Fargo came in second, with 49% re-defaults on $334M of modifications.
On initially-delinquent loans, Wells Fargo came in 11th (tied with Ameriquest), with 70% re-default on $605M of loans. Countrywide came in first again, with 80% re-defaults, which ties it with WaMu (the two thrifts modified $388M and $566M of loans respectively).
The best record on initially-current loans was a "mere" 34% re-default rate after 10 months. By contrast, the best record for initially-delinquent loans was 62% -- held by (the non-WaMu part of) JP Morgan Chase.
REPUDIATE BAD DEBT!!!
DO NOT MODIFY OR REFINANCE LOANS YOU CANNOT AFFORD TO BEGIN WITH THAT OR
PERMIT THE ECONOMY TO SUFFER.Some excerpts of the default data: on initially-current loans, Countrywide modified... more
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taps65
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``It takes some pretty shameless lawyers and a rich culture of corporate stupidity for a company to sue itself. I hope Wells Fargo loses this case and ends up having to drag itself all the way to the Supreme Court"
- after the hit story "the emperors new clothes" now comes "BOZO the mortgage banker."``It takes some pretty shameless lawyers and a rich culture of corporate stupidity for... more
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taps65
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Mathematically perfected economy™ (MPE™) 1 : the singular integral solution of 1) inflation and deflation, 2) systemic manipulation of the cost or value of money or property, and 3) inherent, artificial multiplication of debt into terminal systemic failure; 2 : every prospective debtor's right to issue legitimate promises to pay, free of extrinsic manipulation, adulteration, or exploitation of those promises, or the natural opportunity to make good on them; 3 : our right to certify, to enforce, and to monetize industry and commerce by this one sustaining and truly economic process.Mathematically perfected economy™ (MPE™) 1 : the singular integral... more
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taps65
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The promise of the American Dream was abruptly cut short by a dose of abetted reality. Foreclosures induced by lending practices that steered borrowers into loans they couldn't understand and ultimately couldn't afford devastated individual homeowners, and by multiplying that effect by thousands the sub-prime mortgage crisis shall have drowned us all in debt.
Survival and growth can only be achieved if the strength of the law and the shield of truth
are used to break the Final wave before it engulfs generations into financial extinction.The promise of the American Dream was abruptly cut short by a dose of abetted reality.... more
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taps65
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We need to get people involved with the July 4th Tea Parties. People must understand this is not a democratic or republican issue this is an American issue and we are getting our rights and wealth stolen. Show this video to a friend and lets get a million people to protest on July 4th.We need to get people involved with the July 4th Tea Parties. People must understand... more
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taps65
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Bernanke claims that taking the monetary power away from the Fed and putting it back into the hands of the people (as the Constitution says) will cause "harm" to the economy. Well what has the Fed been doing to the economy all these years that hasn't been harmful?
As our beloved President once said:
"My fellow citizens of the world: ask not what America will do for you, but what together we can do for the freedom of man. ..."
BAN CREDIT DEFAULT SWAPS!!!
Please read the US Declaration of Independence. May God Save America.Bernanke claims that taking the monetary power away from the Fed and putting it back... more
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taps65
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There is a busy little private company
you probably never have heard about, but which you should. Its name is the Depository Trust & Clearing Corporation. See their website. Looks pretty boring. Some kind of financial service thing, with a positive slogan and out there to make a little business. You can even get a job there. Now, go and take a look at their annual report. Starts with a nice litte Flash presentation and has a nice message from the CEO. And take a look at the numbers. It turns out that this company holds 23 trillion dollars in assets, and had 917 trillion dollars worth of transactions in 2002. That’s trillions, as in thousands of thousands of millions. 23,000,000,000,000 dollars in assets.There is a busy little private company
you probably never have heard about, but which... more
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taps65
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The government has no power over the DTCC. Officials from the Securities and Exchange Commission, which has limited oversight, admit that they have no clue how the DTCC operates and that they visit the organization only once a year.
So, of course, the DTCC protects the criminals. It protects the criminals because it is owned by the criminals. That is, the DTCC is a quasi-private organization owned by Wall Street brokers – the very same people who serve the hedge funds who seek to profit from the destruction of our economy.The government has no power over the DTCC. Officials from the Securities and Exchange... more
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taps65
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What's particularly interesting to me about this short article is that it highlights a problem I liken to "fleas killing a dog". Once a pregnant flea moves in and begins to reproduce, her offspring will, in time, overpower the immune system of the dog and will eventually kill him. The analogy couldn't be closer to what's being done now to the world financial system (the infested dog) by the opportunistic hedge funds (prolific and potentially lethal blood-sucking parasites).What's particularly interesting to me about this short article is that it... more
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taps65
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Credit Default Swap Scam 101
Players:
(A)CDS-issuing “Insurance” Company
(B)Buyers of “Insurance”
(C)Some Event
(D)Taxpayers
(E)”Insurance” Company CEOs
(B)Buyers pay $10 billion in premiums and gets $100 billion from (A)CDS-issuing “Insurance” Company if (C)Some Event happens. Amazingly,(C)Some Event happens.(A)CDS-issuing “Insurance” Company goes bust because it can’t pay out all its CDS “Insurance” obligations.(B)Buyers of now lucrative “Insurance” contract wants to get paid. Cries to DC. DC makes the (D)Taxpayers take over the obligations of these lucrative contracts. THERE IS NO ASSET. THERE IS ONLY PAYING THE INSURANCE CONTRACT.(D)Taxpayers gets NOTHING and pays out the nose to (B)Buyers of now lucrative “Insurance” contract. The original $10 billion premiums are gone as they have already paid for the (E)”Insurance” Company CEO’s salaries and lavish lifestyles.
That is the SCAM.
Wall Street and DC are FORCING (D)Taxpayers to pay for BETS(No underlying assets) that they don’t want to pay up on. Yes, you,(D)Taxpayers, minding your own business, are being FORCED(try not paying your taxes and you’ll see what force comes along) to pay for the SCAM of rich Wall Street and DC.
Why use quote around “Insurance?” Because the financal services industry got around having these considered insurance products so they didn’t need to be regulated and have proper reserves in case of problems.
(E)”Insurance” Company CEO’s money: safe in Swiss banks.
(B)Buyers of “Insurance” money and payouts: safely increasing in Swiss banks.
(D)Taxpayers’ money: pouring out every window to the rich.
THIS HAS BEEN ENGINEERED ON PURPOSE. IT IS HAPPENING.Credit Default Swap Scam 101
Players:
(A)CDS-issuing “Insurance”... more
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Rep. Duncan questioned Federal Reserve chairman Ben Bernanke on Thursday about what his opinion of a majority in Congress who have co-sponsored Ron Pauls bill to audit the Federal Reserve.
Bernanke clearly regarded the bills intent as hostile to the institution he represents:
"My concern about the legislation is that if the GAO is auditing not only the operational aspects of the programs and the details of the programs but making judgments about our policy decisions would effectively be a takeover of policy by the Congress and a repudiation of the Federal Reserve would be highly destructive to the stability of the financial system, the Dollar and our national economic situation."
The brunt of Bernankes statement is as crystal clear as a threat from a common street thug back off from the Fed, or the economy gets it.
The chairman clearly implies that any attempt to restore monetary powers constitutionally granted to the Congress would be seen as a "takeover" and that the defensive and "repudiated" Fed would respond destructively.
Of course Congress constitutional power over money is in the U.S. Constitution:
The Congress shall have power To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;
Bernankes open use of financial terrorism in the face of Congress blatant Constitutional authority is absurd and despicable.Rep. Duncan questioned Federal Reserve chairman Ben Bernanke on Thursday about what... more
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Attn: California Unlawful Foreclosures and Illegal Evictions this one is coming to a town near you. Plausible deniability and fraud upon the courts causing people to lose homes shall end.
(http://avenue-s.us/antelopevalley.html)
A Springfield judge’s ruling has thrown the entire Massachusetts foreclosure market into disarray by bolstering
claims that lenders improperly seized thousands of Bay State homes.
Experts say Land Court Judge Richard Long’s recent decision to void two Springfield-area foreclosures over
procedural flaws has gummed up resale of foreclosed homes across the state.Attn: California Unlawful Foreclosures and Illegal Evictions this one is coming to a... more
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