Nothing new here. Just another multi-billion $ settlement.

Bank of America's Merrill Lynch Settlement: Company Puts Charges Of Misleading Investors Behind It: via HuffPost http://huff.to/USClAu

Study Shows U.S. Income Inequality Worse Now Than In 1774, during the times of slavery

Income-inequality

This article does an excellent job identifying the underlying problem with securitized loans in simple language

Excellent read.

Wall_Street_Rules_Applied_to_REMIC_Classification

This article makes the "do-not-miss" list. This means you should read it.

Four Years After the Financial Implosion, Questions Finally Begin to Be Asked: (from Huffpost)

http://huff.to/U2IKIQ

The Federal Reserve will buy $40 billion* of mortgage bonds EACH month

Talk about a bailout!  $40 billion each month for as long as the economy needs it.  Keep in mind, the Federal Reserve could use that money to help "people" ... rather, it will spend hundreds of billions in dollars to "save" banks.  It will not save them.  Even if it did, it does not save anyone but the banks.  At least a handful of people will make a LOT of money.

Fed Announces more "quantitative easing"

*Correction, $85 Billion / month until the end of this year, then $40 Billion / month until the economy has fully stabilized.

Emphasis on "or more" .....

Financial Crisis Cost U.S. $12.8 Trillion Or More: Study: via HuffPost

Published with Blogger-droid v2.0.6

Gutsy article. All true.

When It Comes to the DoJ and Wall Street, Don't Call It "Justice": via HuffPost

Published with Blogger-droid v2.0.6

Banks' Disorganization Pushed 800,000 Homeowners Into Unnecessary Foreclosure: ProPublica

There is little question the 800k figure is conservative, and in the overall scheme of things, just the tip of the iceberg of servicer abuses.

On Pro Publica, link via the Huffington Post:

Servicers ignored intent of HAMP

BB&B will once again be posting to our blog, which is now on our website - www.vaforeclosuredefense.com !

This blog will be the place where you can count on seeing the latest news dealing with the financial and foreclosure crisis, all in one location.