Darrell Issa Steps in It, Inadvertantly Reveals Improper Use of Congressional Funds to Serve AEI

By: Thursday July 14, 2011 5:50 am

Republicans are big fans of projection. When they’re neck-deep in conflicts of interest, they like to hide it by accusing Democrats of such conflicts. When they leak stuff, they accuse Democrats. When they mismanage stuff, they accuse Democrats. And yesterday, Darrell Issa got caught doing just that. A year ago, on July 27, 2010, Issa [...]

The Charismatic Blonde Women and the Consent Decree

By: Wednesday April 6, 2011 12:15 pm

DDay reported on OCC’s attempt to preempt a foreclosure settlement on Monday. Today, Yves Smith has a long post giving the consent decrees the banks are trying to roll out in lieu of a real foreclosure settlement the disdain they deserve. Wow, the Obama administration has openly negotiated against itself on behalf of the banks. [...]

The John Walsh-Liz Warren-Investors & Homeowners Cage Fight

By: Friday February 25, 2011 9:38 am

I noted the other day that the Administration was floating a ridiculously small $20 billion Get out of Jail Free plan to excuse the banksters fort their foreclosure fraud. Apparently, the banksters think that $20 billion is just a “crazy figure” that will never be imposed. The actual homeowners affected by the banksters’ crime, however, [...]

Michael Barr–Liaison on Foreclosure Fraud Investigation–Leaves Treasury

By: Tuesday November 23, 2010 12:20 am

Just one week ago, Iowa’s Attorney General Tom Miller told Chris Dodd that Assistant Secretary of the Treasury for Financial Institutions Michael Barr was the key person from Treasury working with the Attorneys General investigation into foreclosure fraud. Miller: We haven’t had any contact with the [Financial Stability Oversight Council]. We have had repeated contact [...]

If Voluntary Moratoria Mean Banks Are Solving the Problem, What about Wells Fargo?

By: Friday October 15, 2010 4:34 am

Elizabeth Warren, presumably laying the foundation for an Administration deal with banks to not unwind the entire securitization paperwork problem in exchange for loan modifications, points to banks’ voluntary foreclosure moratoria as proof the banksters are trying to solve this problem (presumably meaning the foreclosure fraud, but not the larger problems). She additionally stated that [...]

Did Servicers Commit Fraud So Banksters Could Get Big Bonuses?

By: Wednesday October 13, 2010 8:00 am

When I asked yesterday about the relationship between the stress tests and the servicers’ foreclosure fraud, I had a hunch that the banksters might have been committing that fraud so as to be able to show financial viability so as to be able to repay TARP funds so as to escape the oversight of the [...]

Remember the Stress Tests?

By: Tuesday October 12, 2010 9:36 am

The other day, I noted that Administration claims that they were helpless to affect what they now depict as loan servicers’ “sloppiness” but what really amounts to fraud ignores their decision to stop pushing for cramdown–and with it, leverage over the loan servicers. I think (though I’m less sure of this) they’re ignoring one other [...]

The (Liz) Warren Commission and Financial Reform

By: Sunday October 3, 2010 11:02 am

A lot of hope was placed on the back of Elizabeth Warren and the financial reform act passed by Congress at the behest of the Administration and formally known as the Dodd-Frank Wall Street Reform and Consumer Protection Act. Concurrent with belittling the liberal Democratic activist base as ungrateful whiners, the Administration and Democratic leadership has touted Liz Warren and Dodd-Frank as prime examples of accomplishments that should thrill and satisfy the base. But are those “accomplishments” really all that and should they mollify Democrats, at least on financial reform issues? The initial returns indicate no.

Elizabeth Warren’s Soapbox

By: Friday September 17, 2010 7:40 pm

Two weeks ago, I suggested Obama would do well to hire the woman who wrote the book on the struggles of the middle class. Today, he did that. This afternoon, I suggested that the White House needed to get their newest employee out on teevee, talking to the middle class. For the White House, not [...]

Congratulations and Good Luck to Elizabeth Warren

By: Friday September 17, 2010 8:37 am

I’m cautiously optimistic with the dual appointment of Elizabeth Warren to be Assistant to the President to work at Treasury to set up the Consumer Financial Protection Board. Frankly, no one knows what this appointment will mean in practice except perhaps Obama, Warren, and Timmeh Geithner. And no one knows how well Warren will negotiate [...]

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