Finance

http://s.erious.ly
Posts tagged "banana republic"
naked capitalism / Publishers

Is the Mortgage Settlement Deal Starting to Unravel?

by Yves Smith on Feb 6, 2012 • No Comments
The Administration had thrown its weight behind getting the mortgage settlement deal done shortly after the State of the Union address. Eric Schneiderman joining a Federal task force that seemed unlikely to accomplish much, given its staffing and the history of Federal investigations, seemed to secure it getting done, as Schneiderman, the de facto leader...
naked capitalism / Publishers

Obama’s SOTU, authoritarian followership, and civil society: Part II

by Lambert Strether on Feb 6, 2012 • No Comments
lambert strether is an old school blogger from Corrente. Last week in Part I of this piece, I argued that Obama's recent State of The Union speech endorsed a particular model of military organization named the "warrior ethos" by its DOD developers, and that this ethos and American soldier's oath of enlistment (
naked capitalism / Publishers

Obama’s SOTU, authoritarian followership, and civil society: Part II

by Lambert Strether on Feb 6, 2012 • No Comments
lambert strether is an old school blogger from Corrente. Last week in Part I of this piece, I argued that Obama's recent State of The Union speech endorsed a particular model of military organization named the "warrior ethos" by its DOD developers, and that this ethos and American soldier's oath of enlistment (
naked capitalism / Publishers

More on the Role of Second Liens and the Mortgage Settlement as Stealth Bank Bailout

by Yves Smith on Feb 6, 2012 • No Comments
Readers who missed the post over the weekend entitled "Schneiderman MERS Suit and HUD’s Donovan Remarks Confirm That Mortgage “Settlement” is a Stealth Bank Bailout" are advised to read it first, since it provides important background and context for this piece, which clarifies some issues I skipped over.
naked capitalism / Publishers

Quelle Surprise! New York and California Attorneys General Look Ready to Sign on to Mortgage Settlement

by Yves Smith on Feb 5, 2012 • No Comments
The New York Times reports that two attorneys general of states regarded as important for the Obama Administration to declare the mortgage settlement a success have rejoined the negotiations, which says they are likely to sign the pact. Kamala Harris, the California AG, was widely seen as "political" and therefore was not seen as...
naked capitalism / Publishers

Schneiderman MERS Suit and HUD’s Donovan Remarks Confirm That Mortgage “Settlement” is a Stealth Bank Bailout

by Yves Smith on Feb 5, 2012 • No Comments
In case you had any doubts about what the mortgage settlement was really about and why banks that were so keenly opposed to it are now willing to go ahead, the news of the last two days should settle any doubts. As we had indicated earlier, one of the many leaks about the settlement showed...
naked capitalism / Publishers

Fannie Ignored 2006 Warnings About Widespread Mortgage Abuses (Updated)

by Yves Smith on Feb 4, 2012 • No Comments
Gretchen Morgenson of the New York Times reports on an ugly bit of mortgage market history: that Fannie Mae was told in 2006 to address the derelict behavior of its servicers and foreclosure mills yet chose to do pretty much nothing about it.
naked capitalism / Publishers

Schneiderman Files Civil Fraud Lawsuit Against Three Major Banks for Use of MERS

by Yves Smith on Feb 3, 2012 • No Comments
New York filed a lawsuit against various units of JP Morgan, Bank of America, Wells, MERSCORP and MERS over their use of MERS in foreclosures. This civil suit alleges that the use of MERS has "resulted in a wide range of deceptive and illegal practices," most importantly, over 13,000 foreclosures in MERS name where MERS...
naked capitalism / Publishers

Schneiderman Files Civil Fraud Lawsuit Against Three Major Banks for Use of MERS (Updated)

by Yves Smith on Feb 3, 2012 • No Comments
New York filed a lawsuit against various units of JP Morgan, Bank of America, Wells, MERSCORP and MERS over their use of MERS in foreclosures. This civil suit alleges that the use of MERS has "resulted in a wide range of deceptive and illegal practices," most importantly, over 13,000 foreclosures in MERS name where MERS...
naked capitalism / Publishers

Investors (and Others) Realizing Their Ox is About to be Gored in Mortgage Settlement

by Yves Smith on Feb 3, 2012 • No Comments
Investors have been remarkably passive as banks and servicers have taken advantage of them. We've heard numerous reports of servicer fee abuses that amount to stealing from investors (remember, if you overcharge a stressed borrower and that borrower loses his home, the money in the end comes out of pension funds and 401 (k)s when...
naked capitalism / Publishers

Romney’s Wife Had $3 Million in Secret Swiss Bank Account Through 2010; Not Reported in Federal Disclosure Forms

by Yves Smith on Feb 3, 2012 • No Comments
Remember how peculiar it was that presidential candidate Mitt Romney refused to release his tax returns? That was predictably a non-starter. Most voters probably assume the reason he resisted was to avoid the controversy over his strikingly low tax rate. Another factor appears to have played into this decision. The release of the tax returns shows...
naked capitalism / Publishers

Quelle Surprise! SEC Fails to Sanction Big Banks for Fraud

by Yves Smith on Feb 3, 2012 • No Comments
Ed Wyatt of the New York Times has released an important story tonight on how the SEC goes easy on big banks by giving them exemptions to laws meant to stop securities fraud. This report stands in stark contrast to a Reuters story which repeats the favorite Administration mantra: it's really hard to...

Follow seriouslyfinace on Twitter!

Follow seriouslyfinance on FaceBook

Sponsorship

Twitter on #stocks and #finance

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

© 2010 Finance. All Rights Reserved.
Powered by WordPress.

Designed by WPSHOWER