Billions in Afghanistan aid dollars unaccounted for: audit
•Nearly 18 billion dollars earmarked for reconstruction in Afghanistan remain unaccounted for, snagged in a "labyrinth" of contract bureaucracy, a sweeping US government audit has shown.
Contents Pages by Subject
Corruption
Foreclosure-Gate Explained: Big Banks on the Brink
• truth-out.org/One foreclosure expert estimates that just 6 to 7 percent of the loans made in the last three years can produce properly recorded title transfers from borrower to final lender. Legally assigning, or recording title transfers was much too slow...
Yves Smith: Obama No Longer Bothering to Lie Credibly
• NakedCapitalism.com/I’m so offended by the latest Obama canard, that the financial crisis of 2007-2008 cost less than 1% of GDP, that I barely know where to begin. Not only does this Administration lie on a routine basis, it doesn’t even bother to tell credible lies.
Bill Black Lands A Knockout Punch on Obama and Wall Street Corruption
• Market-ticker.denninger.org/Third, integrity is important. I really shouldn't have to explain this. It depresses me that I have to argue that it is wrong to lie. Our democracy, our economy, our society, and our souls depend on restoring our integrity and the rule of law.
A Chilling Comment About The Ramification Of Foreclosure-Gate
• CNBC.comIt comes down to this: Resolve the foreclosure situation in a fair way, or preserve the existing bank capital structure. You can't do both.
Illegal Profits: JPM, HSBC Sued For Silver Market Manipulation
• ZeroHedge.comIn the suit, the plaintiff allege that JPM and HSBC in August 2008 held 85% of the net short position in silver and by the first quarter 2009 held $7.9 billion in precious metal derivatives.
Foreclosure-Gate: “We found servicer defaults in 100% of the trusts”
• ZeroHedge.comThe reason for the ire? It is the noteholders who ended up having to pay legal fees associated with discoveries of rampant fraud: "The investors, who Franklin has said own more than $500 billion of the securities, are “pretty disturbed”...
Conway Cover-Up: Media Ignores Admitted Obstruction Of Justice
• Paul Joseph Watson & Kurt Nimmo, PrisonPlanet.comWhile hyperventilating over the Lauren Valle stomping incident, the corporate media has ignored a far bigger scandal swirling around the Kentucky Senate race – the fact that financial contributors to Jack Conway’s campaign and Conway himself tipped o
On Monetary Idiocy and Treason, Chris Whalen
• Market-ticker.denninger.org/The acts are arguably criminal fraud. And in the case of the zombie banks, the GSEs and the MIs, the fraud is being actively concealed by Congress, the White House and agencies of the U.S. government led by the FED. Is this not tyranny?
Our Overlords Prepare For The Taxpayer Funded Mortgage Insurer Bailout
• ZeroHedge.comChris Whalen's latest Institutional Risk Analytics is a must read letter as it highlights yet another aspect of foreclosure fraud, one which finds various analogues in the way the MBS originating banks took advantage of AIG, knowing full well...
Foreclosure-Gate: The Wall Street Journal Again Opines - And Lies
• Market-ticker.denninger.org/WSJ: We hasten to add that technicalities are important; the rule of law is nothing but a profound commitment to honor technicalities. But let's understand that in the absence of the snafu, we'd have a faster, smoother-working foreclosure process...
HAMP: 'It's Just A Scam And The Banks Are Getting Everything'
• Huffingtonpost.com"This was a lie -- 100 percent lie," Stratton said. "We ran off the guidelines. We met every single qualification to get a HAMP mod."
JPMorgan, BofA, and Citi, Plead To Keep Bailout Details Secret
• Businessinsider.com/A group of pretty much every bank you can name just asked the Supreme Court to withold documents that detail emergency cash injections they received from the government at the end of '08, Bloomberg reports.
Foreclosure-Gate: Why The Banks Must Not Get Away With This
• Market-ticker.denninger.org/Once the population gets into its head that the very legal code that says you can't steal someone's house by lying about debts in court only applies to them, and not to banks, we're not far from the general population deciding that the rest of the...
CFTC Commissioner Raises Alarm Over Silver Market Manipulation
• JessesCrossRoadsCafe.blogspot.com/Gold and silver are no bubbles. It is a like a Ponzi scheme in reverse that goes back for decades, that has sold many more ounces of metal than can possibly be delivered at today's artificially low prices, that was tolerated and even promoted...
Congressional Fleecing the Public Legislation
Stephen LendmanOutrageous proposed congressional fleecing
What Is MERS and What Role Does It Have in the Foreclosure Mess?
• Ritholtz.comIt is the company created and owned by all of the big banks to process title to property in the U.S. Approximately 60% of the nation’s residential mortgages are recorded in the name of MERS.
HAMP: A Kafka-esque Nightmare of Milking Troubled Borrowers
• NakedCapitalism.com/It’s no doubt the same logic process used by the conductors of trains that took Jews to concentration camps. They must have noticed that they shuttled passengers only one way, and that the number they were bringing in over time was...
How Did the Banks Get Away With Pledging Mortgages to Multiple Buyers?
• ZeroHedge.comYou should refer your dubious and very naive friends to the case of National Bank of Keystone, WV. One of the worst failures per $ of assets in FDIC history. The management hid a Ponzi scheme in the loan servicing area for five years.
James Howard Kunstler: The Tombstone Blues
• Kunstler.comThe latest version of Pretend - going on a couple of weeks now - is the nation whistling past the graveyard of mortgage documentation fraud while skeletons dance around everything connected with the money system. Halloween came early this year.
Fannie & Freddie Are Orwellian Institutions That Prey On The Poor
• Businessinsider.com/"If you're a wealthy American you can refinance, but if you've got a seven-something FICO score and you're in a so-so neighborhood so the collateral doesn't have a big score in the equation, you're screwed," Chris Whalen says.
Bill Black On Foreclosure-Gate: Terminate Bernanke, Geithner & Holder
• ZeroHedge.comThose loan frauds occurred because the banks created incentive structure for the loan brokers to bring them the absolute worst of the worst loans, and to lie on the application forms... These frauds came from the banks, and they propagated...
Bill Black on Dylan Ratigan: Bernanke Led The Foreclosure-Gate Coverup
• Market-ticker.denninger.org/ &MSNBCBill Black was scathing in his comments on the Fed, banks, mortgage backed securities, and the massive levels of fraud that created Foreclosure-Gate. He left no doubt that Ben Bernanke knew of the fraud and led the coverup...
Foreclosure-Gate: To The States And The People - Stop The Madness
• Market-ticker.denninger.org/You must make it known to your state and local governments that this is what you demand. You must get them to back you, not the big financial institutions. This will likely mean, at some point, civil disobedience - that is, refusing to leave...
Sheila Bair: Foreclosure-Gate Is A ****show
• Market-ticker.denninger.org/Lots of notes appear to have never been conveyed. When the MBS holders get their landsharks into this, the servicers and securitizers are screwed. Got it? Done, baked, cooked, finished.
Foreclosure-Gate Repercussions: BofA Takes Hit As Sheila Bair Talks
• ZeroHedge.comBAIR SAYS CRISIS REVEALED `CRITICAL FLAWS' IN MORTGAGE FINANCE
Foreclosure-Gate: An Intellectually Dishonest, Flawed Defense of MBS
• NakedCapitalism.com/Rubbish. The boldfaced language falsely claims that if the note was endorsed by A in the prototypical A-B-C-D chain we set forth earlier, then D could rely simply on the endorsement by A. In fact, the PSA required the full chain of endorsement...
Videos: D.C. rally boldly blasts Obama as ‘fraud’ Part 1-6
• APFN Message BoardA rally today at the U.S. Capitol pulled no punches in declaring President Barack Obama an “imposter” and “fraud” who should resign before a constitutional crisis of his own making rips apart the nation. The rally was called by Philip Berg, a Penn
Foreclosure-Gate: The Perfect No-Prosecution Crime
• usawatchdog.comDid you know that in the aftermath of the Savings and Loan (Thrifts) scandal there were more than a thousand felony convictions of financial elites? The current sub-prime/mortgage-backed security scandal is 40 times bigger according...
Foreclosure-Gate: More Lies From Bernanke
• Market-ticker.denninger.org/Our society did not "take steps" to hand out liar loans and other similar frauds. Homeowners and society as a whole did not design these schemes that were nothing more than asset-stripping frauds. The banks did this...
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