Holder investigating wall street. Criminal probe.

via HuffPost

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Bank's seeking to foreclose face more and more questions of their standing

Open me - from ProPublica.org

The AIG bailout - good for the banks, bad for the Commonwealth of Virginia

Flashback to THIS excellent article / graphic revealing how incestuous the shadow banking system was/is.  At the bottom, the following shocking tidbits are revealed:

1) AIG was bailed out with $182 billion of taxpayer money (and counting)

2) In exchange for the bailout, AIG had to agree to WAIVE THE RIGHT TO SUE the banks for the fraud committed

3) The Federal Reserve told AIG not to disclose all the details, meanwhile California and Virginia pension plans were given a huge haircut while the bankers received 100 cents on the dollar from AIG.

How does this happen? 

Fed Governor Sarah Bloom Raskin Speech at the National Consumer Law Center's Consumer Rights Litigation Conference, Boston, Massachusetts

Read it here

She candidly discusses the servicing problems in the finance industry.  Definitely worth a read.

Ireland bailed out with $89 billion.

via HuffPost

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Pro-Publica: What is a Wrongful Foreclosure?

The answer is here

Big problems for Bank of America for Countrywide procedures handling original loan documents sold to securitized trusts?

click me

Dylan Ratigan show - look at the deocumentary "Inside Job" with its creator on the show, along with William Black. Do not miss.

Click me,

Recent news of insider trading lawsuits - chasing the small fish? Read to learn more.

Open me.

Banks bought their own mortgage securities, creating fake demand for CDO packaging

Read all the goodness here

Congressional Oversight Panel: Paperwork problems not going away. Must read.

NYT: Flawed Mortgage Papers May Pos

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Economist: California will default on its debt

He goes on to say: If California were to default, and the Federal Government even mentions a bailout then Illinois, New York, and other states will be right behind.

Read about it here

The California Qui Tam against MERS and many major financial institutions would be a big boost to the financial woes of the state.

Read about the Qui Tam suit here

The most shocking confessions of robo-signers

via HuffPost

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Audio of Interview with Janet Tavakoli discussing foreclosure fraud, and doing it well

Listen to it here

Will Congress attempt to pass legislation to save MERS?

Read about it here on CNBC.com

Homeowners' Rebellion: Could 62 Million Homes Be Foreclosure-Proof?

From an August 2010 article ..
Click here to read about it

A who's-who in the foreclosure scandal / repost for those who missed it

Who’s Who in the Foreclosure Scandal: A Primer on the Players - ProPublica

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Govt has only spent a fraction of the $50 billion pledged for loan mods to help families

Gov’t Has Spent Small Fraction of $50 Billion Pledged for Loan Mods - ProPublica

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Many judges now skeptical of foreclosure documents

Banks Face New Rules on Foreclosures from Skeptical State Judges - ProPublica

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Sharp drop in foreclosures due to scandals involving robo signers and fraudulent documents.

Read about it here.

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Lenders gross profits from forced placed insurance tied to conflicts of interest.

Ties to Insurers Could Land Mortgage Servicers in More Trouble - American Banker Article

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The next major crisis could (read: will) come from state govts and their fiscal problems.

Read about it here.

MERS and others sued in 17 states for avoiding state recording fees - damages could be in the billions in revenue for the states.

AP IMPACT: Bypassing county fees may cost banks

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Goldman Sachs / Litton suspend foreclosures in some states

via HuffPost

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Wealth distribution in US now worse than traditional banana republics.

NYT: Our Banana Republic

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Foreign leaders criticize Fed's Backdoor Bailout plan

via HuffPost

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Bank failures continue to set records

via HuffPost

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The VA Qui Tam (whistleblower statute).

LIS > Code of Virginia > 8.01-216.3

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Volcker statement translated: Fed plan to infuse economy with $900 billion is a massive backdoor bailout that will not do much to help the economy.

via HuffPost

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Consumer right to class action may be at risk before supreme court.

via HuffPost

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Related to the previous post, just in case you didn't know who bought a lot of those mortgages, we did. Er Fannie and Freddie did.

via HuffPost

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Another story on the massive losses of AIG which continues the policy of refusing to report the truth: AIG had to pay billions to the banks for the credit default swaps purchased - i.e. the bets that the mortgages they sold would fail (and they knew they would fail).

via HuffPost

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Conservatives look to oust judges who supported gay marriage. Scary, these attempts to influence/control the judiciary.

via HuffPost

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Bank of America edges closer to the tipping point .... as expected.

via HuffPost

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Backdoor Bailout starts with $600 billion.

via HuffPost

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States taking on Foreclosure Fraud

NYT: State Attorneys General Take H

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William Black and L. Randall Wray - Foreclose on the Fraudsters

These two courageous persons released part 1 earlier - find it here

Part 2 is now out - do not miss it here

These are must read articles for anyone who cares about the rule of law, or what is going on out here.