Monthly Archives: October 2011

The 99 Percent

OF ALL the many banners being waved around the world by disgruntled protesters from Chile to Australia the one that reads, “We Are the 99%” is the catchiest. It is purposefully vague, but it is also underpinned by some solid … Continue reading

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Securitizing Fannie- guaranteed to fail

James Johnson, who, for most of the 1990s, ran Fannie Mae, the largest of the Government Backed Mortgage Companies (GSEs). Tall, charming and politically shrewd, Mr Johnson spotted a golden opportunity to use a popular cause—increasing home ownership—as a means … Continue reading

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California Courts Clogged

IN THEORY America’s three branches of government are equal. In practice the judiciary is the weakest, as Alexander Hamilton cautioned in “The Federalist Papers”, because it controls neither sword nor purse. Of late, state legislatures and executives have been closing … Continue reading

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California Backs out of Foreclosure Probe as Banks Fire Up Foreclosures

California Atty. Gen. Kamala Harris will no longer take part in a national foreclosure probe of some of the nation’s biggest banks, which are accused of pervasive misconduct in dealing with troubled homeowners. Harris removed herself from talks by a … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Uncategorized | Leave a comment