Groupthink, Greed, Cynicism and Crime

By: Sunday March 24, 2013 11:00 am

Hey, those banksters who sold garbage RMBSs didn’t act like they knew the housing market would crash. So, it’s all good. No jail for them.


Robert Khuzami Neither Admits Nor Denies

By: Sunday December 2, 2012 10:45 am

Robert Khuzami thinks settling with cheats and frauds is a great idea. Why bother with all that silly trial stuff? He must be right, he’s on the short list for SEC Chair.

The Democratic Platform’s Nonsense on Banks

By: Tuesday September 4, 2012 3:17 pm

The Democratic Platform seems to have missed the central point of the banking mess: the Obama administration did not investigate the disaster, and didn’t indict anyone for the crimes that led to the Great Crash. In fact, the administration specifically refused to follow up on criminal referrals from the Financial Crisis Inquiry Commission regarding one of the Goldman Sachs mortgage deals, saying as it always does, that it stinks, but isn’t a crime.

If Glass-Steagall Hadn’t Been Repealed…

By: Sunday May 27, 2012 10:52 am

It’s stupid to say that repeal of Glass-Steagall was irrelevant to the Great Crash. I wonder which sell-out economists are whispering in the ears of pundits.

Big Empty Bag of Nothing

By: Wednesday April 4, 2012 3:30 pm

It has finally happened. Investors in a Residential Mortgage Backed Security {RMBS) have finally sued that the mortgages were never properly transferred into the trust.

The lawsuit was filed in the New York Supreme Court, New York County (that’s Manhattan to you off-islanders) on Monday. The Plaintiff is German Bank HSH Nordbank and it accuses Barclays of selling securities based on trusts that were supposed to have mortgages in them, but were actually empty.

An Open Letter to Rufus Gifford

By: Sunday March 4, 2012 10:30 am

Please keep sending me those e-mails, but don’t get hurt feelings if I don’t respond. And good luck with that re-election thing.

President Clears Wall Street Of Crimes

By: Friday October 7, 2011 8:20 am

If everyone on Wall Street is as pure as the driven snow, or at least “not guilty”, then it’s fine for Obama to raise tens of millions of dollars from them to pay for his shot at re-election.

CNN Says Faster Foreclosures Are Solution to Mortgage Fraud

By: Thursday September 1, 2011 4:04 pm

Banksters have figured out that they can stall real solutions to the housing/foreclosure mess and eventually the congress will give them some kind of back door bailout. They are probably right.

The Blameless Rich

By: Sunday August 21, 2011 11:00 am

No one should be allowed to evade responsibility on the theory that collective guilt creates individual exoneration.

Bank Of America Settles Part Of RMBS Claims

By: Wednesday June 29, 2011 2:30 pm

Bank of America settled some of their mortgage problems today, but now all. Even then they got off very cheaply, a mere 8.6 billion.

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