Josh Rosner, a well respected banking analyst (via Naked Capitalism).  He maintains:  What if nearly all of the mortgages that were securitized (mortgage loans that were bundled and sold as securities) over the last decade are actually unsecured or worthless paper?  A couple court cases forced by actions like this, could set off the stampede.  
( Read more... )

From AlterNet
Posted by Zach Carter at 7:08 am
October 6, 2010

Just when you thought Wall Street couldn’t defraud the economy any further, it went ahead and did it. After pushing millions of borrowers into foreclosure with fraudulent loans, big banks are now being implicated in a massive new fraud scandal involving the foreclosure process itself. ( Read more... )

From HuffPo

In their zeal to complete foreclosure proceedings, some banks send representatives to change the locks on properties in foreclosure, even as they remain occupied. The incidents of lock-changing pile further skepticism on a process recently plagued by scandal.

A contractor for JPMorgan Chase changed the front door lock on a woman's ( Read more... )

by Chris in Paris on 10/02/2010 02:15:00 PM



It's shocking what happens when banks are required to provide basic information to the courts instead of simply pulling demands out of thin air. Maybe most of the houses will be foreclosed though it's only fair for consumers that the banks are being forced to provide proof that they ( Read more... )

From The NYTSeptember 4, 2010 ( Read more... )

The financial juggling that helped cause the 2008 crisis may be coming back to haunt banks-and help homeowners.

by Ellen Brown
posted Aug 18, 2010


( Read more... )

From Asian Energy Blog

Most Americans still appear to be operating under the delusion that the "recession" will soon pass and that things will get back to "normal" very soon. Unfortunately, that is not anywhere close to the truth. What we are now witnessing are the early stages of the complete and total breakdown of the U.S. economic ( Read more... )

by Gaius Publius on 7/05/2010 04:25:00 PM

At this point, it's not news that all the intellectually honest economists are mouthing the DD-word - the phrase "double-dip" has passed a lot of speculative lips lately.

So it's no surprise that Robert Reich is in that group, and to his credit, has been for some time. Here's his latest ( ( Read more... )

From The NYTMay 31, 2010 ( Read more... )

From McClatchyKevin G. Hall | McClatchy Newspapers ( Read more... )