If Voluntary Moratoria Mean Banks Are Solving the Problem, What about Wells Fargo?
Elizabeth Warren, presumably laying the foundation for an Administration deal with banks to not unwind the entire securitization paperwork problem in exchange for loan modifications, points to banks' voluntary foreclosure moratoria as proof…
The UndieBomber Hearing
The UndieBomber, Umar Farouk Abdulmutallab, had his first day in court since he decided to represent himself today. The outcome of the day was to schedule another pre-trial hearing on January 12.
The only drama of the day pertained to whether…
Treasury Sez Banksters Are Lousy Neighbors Who Broke the Law
The Treasury Department gave Felix Salmon's response to Crusader against Injustice Timmeh Geithner's statement on foreclosures more attention than it gave mine--they emailed a response to Salmon's questions about why foreclosures would hurt…
JP Morgan Chase's Several Week Timeline
In addition to dropping MERS today, JP Morgan Chase had an earnings call at which Jamie Dimon was asked questions about JPMC's foreclosure fraud. Calculated Risk has a transcription (both the AP and WSJ attribute these comments to Dimon, though…
Why Does Alabama Love Foreclosure Fraud?
This is just an observation.
As of current reporting, Alabama's Attorney General Troy King is the only state AG not to join in the joint investigation of foreclosure fraud. Even Michigan AG Mike Cox, whose spokesperson said investigating…
Did Servicers Commit Fraud So Banksters Could Get Big Bonuses?
When I asked yesterday about the relationship between the stress tests and the servicers' foreclosure fraud, I had a hunch that the banksters might have been committing that fraud so as to be able to show financial viability so as to be able…
Timmeh Geithner, Campaigner against Injustice
What a load of crap:
Charlie Rose: You're encouraging banks to declare a moratorium on foreclosures?
Tim Geithner: No, I wouldn't say it that way. I think that you know what you're seeing in housing still now is a national tragedy, still…
Foreclosure Crisis May Well Be Catastrophic In Any Case
John Cole asks a bunch of questions about what a foreclosure moratorium would accomplish.
I just don’t understand what good would come from a national moratorium. Forty state AG’s are on the ball, what exactly could a national moratorium…
Judge Phillips' DADT Order Is Not The Victory Being Claimed
/
bmazBy wildly overreaching her injunctive authority, Judge Virginia Phillips has given the Obama White House/Executive Branch legitimate and compelling grounds to appeal that are separate from the critical merits issue of the constitutionality and propriety of DADT, which is a discriminatory and loathsome policy and should be terminated immediately.
Remember the Stress Tests?
The other day, I noted that Administration claims that they were helpless to affect what they now depict as loan servicers' "sloppiness" but what really amounts to fraud ignores their decision to stop pushing for cramdown--and with it, leverage…
US Military Reneges on al-Qosi's Plea Agreement
When Ibrahim al-Qosi agreed to a plea deal with the government, the original deal was that he'd spend a secret two year sentence (rather than the 14 year sentence announced to the public) in communal quarters. At the last minute, the judge in…
Confirmed: Official Administration Policy Is to Continue Foreclosures
The Federal Housing Administration Commissioner, David Stevens, has joined David Axelrod in stating that the Administration sees no reason to halt all foreclosures. That's not a surprise in itself--it was pretty clear that Axe's statement reflected…
The Obama Administration Wants to Ruin Your Neighborhood
According to this story, the Administration (in the voice of David Axelrod) sees no need to halt foreclosures while the authorities sort out the mess caused by the fraud committed by loan servicers.
"It is a serious problem," said David Axelrod,…
Greg Mankiw Proves Raising Taxes Is a Win Win
Oh sure, in this NYT op-ed, Greg Mankiw shamelessly fiddles with numbers to try to show that raising taxes on rich people like him will be bad for the economy. But you don't even have to point out the obvious flaws in his math [Update: Kevin…
Remember Cramdown?
Remember cramdown? It was a proposed change to bankruptcy law that would have allowed judges to modify the mortgages on primary homes for people entering bankruptcy. Supporters of the change argued that cramdown would provide an important stick…
Trash Talk: Does ANY QB Still Have the Touch or Timing for Randy Moss?
On the plane from Edinburgh to London the other day, I sat next to two guys who were heading to talk to some football team called Arsenal to teach them how to promote their brand worldwide like the NY Giants do.
So forgive me if the following…
"You Lie!"
I spent a good part of a book beating up on George Bush for lying in an address to Congress in an effort to generate support for a policy that was being challenged on the merits.
So while I'm not suggesting that protecting a secret deal with…
Court Dockets Are Becoming the 21st Century Memory Hole
Dafna Linzer has two important pieces on the habeas petition of Abdul Rahim Mohammed Uthman which should both be read in full. This one describes how the government's case against Uthman, which alleges that he was one of Osama bin Laden's guards,…
The American Data Octopus
Data octopus. That's how one European Parliament official described the US' continued grab for unfettered access to more and more European data. (h/t WM)
"The Americans want to blackmail us," said an agitated Alexander Alvaro, home affairs…
Of Course the Intelligence Authorization Would Have a Signing Statement
Because that's just how these carefully crafted bills are treated by Presidents guarding their Executive Power.
DDay pointed me to the signing statement that Obama issued in conjunction with the new Intelligence Authorization. There are three…