Showing posts with label Mortgage Crisis. Show all posts
Showing posts with label Mortgage Crisis. Show all posts

Sunday, October 31, 2010

Bob Chapman on the Mortgage Meltdown

Bob Chapman on Radio Liberty 25 Oct 2010



Bob Chapman wrote on the International Forecaster of the 27th October 2010 "....In Foreclosuregate the federal government is trying to cover up the damage and put it off until after the election. The states’ attorney generals’ have different ideas. Even if mortgages were traded electronically the law demands that there be a paper trail. The initial events in this discovery process has already unveiled that banks used the same mortgages to fill different loan packages. They were sold multiple times, which, of course, is fraud. Furthermore the MERS system is unlawful. As a result Bank of America has demanded the FDIC pay them for faulty or bad mortgages. Evidently the practice of multiple mortgage use was widespread. The entire system is rife with fraud, due to lack of lawful, proper, legal documentation. That had led banks to arrange mortgages to totally unqualified borrowers just to be able to securitize and sell those AAA rated mortgages. The banks made major amounts of money and the Federal Reserve arranged for the taxpayer to pay the bill. The banks carried fractional banking to a new level in their deliberate fraud. In fact, there is even the possibility that the mortgages were never really securitized. There probably never was any paper work and what there was perpetuated fraud. In addition there is also the possibility that LPS, a foreclosure-outsourcing firm, fabricated documents and committed forgery as well....."

Tuesday, October 19, 2010

Bob Chapman on the Mortgage Crisis - The Banks are Bankrupt

Bob Chapman on the MortgageGate

Bob Chapman on Mortgage Cisis- The Banks are Bankrup


Bob Chapman wrote in the international forcastyer of the 13th October 2010 : ".....Little or nothing was done about derivatives and that is where the trouble also lies, as well as in structured assets based upon corporate and Treasury debt. These are being sold to retail clients based on higher yields, which also involves subprime debt and auction rate securities. You would think these fools would have learnt something after watching the terrible losses of the past few years. Obviously not, they are determined to lose their investments. That brings us back to our old adage, never, ever, ever chase a yield, it can only end in losses. Worse yet, there are no real after markets in these securities. You are at the mercy of the seller. Another problem is that the regulators do not even know this is going on. That is understandable. If you file a formal complaint concerning naked short selling they are abusive and ignore you. This follows the arrogance of the Fed and the SEC to listen to warnings from the financial communities that subprime mortgages; ABS, MBS and CDOs were toxic bombs about to explode. They as well refused to look into the legalistics of the mortgages, the packaging of the bonds and the obvious phony rating systems proffered by S&P, Fitch and Moody’s. Worse yet, they have for the past few years been guaranteeing the mortgages via Fannie Mae, Freddie Mac, Ginnie Mae and FHA that started the problems in the first place.:...to read more click here >>>>

Tuesday, January 5, 2010

20 Million Mortgages Underwater

23% of Homeowners owe more on their mortgages than the Properties are worth WSJ

About 588,000 Borrowers defaulted on mortgages in 2008 WSJ
25% of Mortgages are underwater nationwide , 45% in Florida
Democratic strategist Julian Epstein and Republican strategist Trent Duffy debate whether reducing the principal on troubled mortgages is fair.










Thursday, December 24, 2009

Goldman Sachs Role in the Mortgage Crisis

Goldman Sachs Role in the Mortgage Crisis

Tavakoli Structured Finance President Janet Tavakoli on the Treasury Department's possible cover up of Goldman Sachs' role in the mortgage crisis.


Monday, December 21, 2009

Facing the Mortgage Crisis | Detroit Public TV | Michigan Radio

At 9pm on Wednesday, August 5, Detroit Public TV presented Facing The Mortgage Crisis, a special show with a panel of experts discussing steps you can take to save your home


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