Obama Said to Choose Watt to Lead Fannie Mae Regulator
Cue Housing Bubble 2.0. Book it. Done. You have been warned.
Oregon Woman Wins 3-Year Fight Against Wells Fargo Foreclosure
Every little bit helps.
Bieber Teams With Banksters to Sell Debt Peonage to Tweens
Straight from the deepest pits of Hell, folks.
Don’t Blink, or You’ll Miss Another Bailout
Favored corporate entities receiving special government protection and subsidy, corporatism. Keeping it secret while jailing others for less, fascism.
FDIC sues insiders of failed Georgia bank
Understand why Treasury and the Fed were so eager to shield the TBTF banks from the FDIC?
BAC Gimmicks Continue - Chargeoffs Soar To Highest In A Year, As Loan Loss Release Surges
Also of note, BAC has shed 16K jobs in the past year and charge-offs are up despite the supposed “improving” housing market.
Paul Ryan blast from the past. Ryan was selling TARP even before there was a TARP. And Rick Santelli was calling BS every step of the way. Eight minutes of history in real time.
Happy Countrywide Day
Just a quick reminder that today is the fifth anniversary of the Fed coming to the rescue of Countrywide. In retrospect, many now call the event the beginning of the financial meltdown, which led to the eventual breakdown of the rule of law which still live under to this day.
Some of us were skeptical from the start. Certainly by the start of 2008 — three quarters before the crash — it was obvious that Countrywide contained very dark and poisonous surprises for the financial sector.
It did not matter.
BAC is now reserve deficient by about $6.7 billion!
Ah, the old trade one thing, report another fraud. Too big to fail, too big to manage — add too big for reality.
