Monthly Archives: October 2010

October 31, 2010

• Guest Post: Washington Post Idiocy: Calls for War With Iran to Save America’s Economy
  by George Washington 11:41 pm

• Links Halloween
  by Yves Smith 6:31 am

• Our New York Times Op-Ed: How the Banks Put the Economy Underwater
  by Yves Smith 4:07 am

• “Protest works. Just look at the proof”
  by Yves Smith 2:54 am

October 30, 2010

• Links 10/30/10
  by Yves Smith 5:24 am

• Will State AGs in Shining Armor Slay the Bank Dragons?
  by Yves Smith 4:20 am

• JP Morgan Chase Plays Fast and Dirty in Florida Loan Mod Waiver
  by Yves Smith 4:15 am

• US Faces Substantial Obstacles to Increasing Rare Earths Production
  by Yves Smith 4:14 am

• Ohio Attorney General Guts Bank “Just Submit New Affidavits” Plan
  by Yves Smith 2:30 am

October 29, 2010

• Links 10/29/10
  by Yves Smith 6:57 am

• China Drops Rare Earths Ban
  by Yves Smith 6:40 am

• Eurozone Worries Rising?
  by Yves Smith 5:48 am

• Joe Costello: Democrats Are Running on Empty
  by Yves Smith 3:32 am

• “How to Destroy a Bank”
  by Yves Smith 2:39 am

• In Case You Had Any Doubts As To Who Is Really In Charge
  by Yves Smith 2:16 am

October 28, 2010

• Obama No Longer Bothering to Lie Credibly: Claims Financial Crisis Cost Less Than S&L Crisis
  by Yves Smith 6:00 am

• Links 10/28/10
  by Yves Smith 5:05 am

• Mortgage Industry Defense is Flimsy, Congressional Oversight Panel Provides Counter-Evidence
  by Yves Smith 3:05 am

• Guest Post: Reappearance of Huge Plumes of Oil is Making It Hard to Pretend that the Problem Has Disappeared
  by George Washington 12:35 am

• NYC Judge Foreclosure Smackdown Shows Problems With Bank “Technicalities” Defense
  by Yves Smith 12:15 am

October 27, 2010

• Wells Fargo Finds Foreclosure “Lapses” in 55,000 Current Cases
  by Yves Smith 7:06 pm

• Links 10/27/10
  by Yves Smith 5:46 am

• Have the US and China Kissed and Made Up?
  by Yves Smith 5:25 am

• Guest Post: Is there a bubble in the bond market?
  by Yves Smith 4:13 am

• MERS Concerns Extend to Commercial Real Estate
  by Yves Smith 2:38 am

• Now It’s Official: Corruption Has Risen in US, Leading to Fall in Global Ranking
  by Yves Smith 1:23 am

October 26, 2010

• Links 10/26/10
  by Yves Smith 6:48 am

• SIGTARP: HAMP Servicing Abuses Led to Unwarranted Foreclosures
  by Yves Smith 6:08 am

• Rave Review for ECONNED
  by Yves Smith 4:26 am

• Treasury Thumbs Nose at Bloomberg FOIA Request on Citi Guarantees
  by Yves Smith 2:36 am

• Guest Post: How Did the Banks Get Away With Pledging Mortgages to Multiple Buyers?
  by George Washington 1:38 am

October 25, 2010

• Masaccio: Foreclosure Fraud Isn’t Mere Paperwork
  by Yves Smith 5:46 pm

• More on the Peculiar Pimco, BlackRock, New York Fed Putback Letter to Countrywide
  by Yves Smith 7:46 am

• Links 10/25/10
  by Yves Smith 6:38 am

• SNR Denton Provides Intellectually Dishonest, Flawed Defense of Mortage Securitizations
  by Yves Smith 3:55 am

• We Interview Maria Bartiromo on C-Span’s Book TV
  by Yves Smith 12:09 am

October 24, 2010

• So Much For Bank Claims That Nothing is Wrong with Foreclosures: 4450 Foreclosures Halted In NYC Due to Inaccuracies
  by Yves Smith 6:37 pm

• Links 10/24/10
  by Yves Smith 4:00 am

• Morgenson Sort of Acknowledges Problems with Residential MBS Rights to Foreclose
  by Yves Smith 3:47 am

• Foreclosure Mills in Florida Slipping the Net of Attorney General Investigation
  by Yves Smith 3:35 am

October 23, 2010

• Guest Post: Gulf Oil Spill … Mission Accomplished or Ongoing Crisis?
  by George Washington 9:17 pm

• Links 10/23/10
  by Yves Smith 4:56 am

• Richard Alford: The Labor Market, the Trade Deficit, And The 800 Pound Gorilla
  by Yves Smith 4:46 am

• Geithner Pushes for Cap on Current Account Surpluses
  by Yves Smith 3:34 am

October 22, 2010

• Guest Post: 70% Of All Stock Market Trades Are Held for An Average of 11 SECONDS
  by George Washington 3:50 pm

• Links 10/22/10
  by Yves Smith 6:05 am

• Obama Administration: “Nothing to See Here” on Foreclosure Crisis
  by Yves Smith 6:00 am

• Richard Alford: The Fed’s Mission Creep – Taking Too Many Roles Means Doing None of Them Well
  by Yves Smith 4:11 am

• Beware of Attorneys General Bearing Gifts, Foreclosure Crisis Edition I (Florida)
  by Yves Smith 3:39 am

October 21, 2010

• Links 10/21/10
  by Yves Smith 4:32 am

• Wall Street Journal Runs Inaccurate Piece on Antiforclosure Lawyers
  by Yves Smith 3:44 am

• The British mess (I)
  by Richard Smith 2:00 am

• What does PBOC’s latest rate hike tell us?
  by Richard Smith 1:30 am

• A critical assessment of the Dodd-Frank Wall Street Reform and Consumer Protection Act
  by Richard Smith 1:00 am

October 20, 2010

• Jim Quinn: Depression 2.0
  by Yves Smith 6:33 pm

• More Judicial Pushback Against Bank Foreclosure Processes: New York Requires “Reasonable” Verification (Updated)
  by Yves Smith 5:27 pm

• Links 10/20/10
  by Yves Smith 7:18 am

• More on Why the PIMCO, BlackRock, Freddie, NY Fed Letter to Countrywide on Putbacks Is Way Overhyped
  by Yves Smith 6:25 am

• Richard Alford: Fed Hasn’t Learned From the Crisis
  by Yves Smith 4:33 am

• GMAC Ends Foreclosure Freeze
  by Yves Smith 4:19 am

• Bad Press on Bank Foreclosures Making Some Judges More Cautious
  by Yves Smith 4:06 am

October 19, 2010

• Cook County (Chicago) Sheriff Refuses to Execute Foreclosures on Behalf of Banks That Suspended Foreclosure
  by Yves Smith 9:09 pm

• Lawmakers Increasing Heat on Servicers on the Foreclosure Front While Regulators Try to Give a Pass
  by Yves Smith 7:22 pm

• New Fronts Opening in Foreclosure Crisis: Criminial Investigation, Constitutional Probe Launched
  by Yves Smith 5:16 pm

• PIMCO, NY Fed Pressuring BofA to Repurchase Dud Mortgages (Empty Threats Edition)
  by Yves Smith 3:28 pm

• We are Number One on Technorati!
  by Yves Smith 10:19 am

• Links 10/19/10
  by Yves Smith 5:11 am

• “A currency war the US cannot win”
  by Richard Smith 5:00 am

• Stiglitz Bashes QE
  by Yves Smith 3:54 am

• Guest Post: Mortgages Were Pledged to Multiple Buyers at the Same Time
  by Yves Smith 3:16 am

• Satyajit Das: Weapons of Choice in Trade Wars
  by Yves Smith 3:04 am

October 18, 2010

• Bank of America Resumes Foreclosures in 23 States
  by Yves Smith 6:24 pm

• Guest Post: Bill Isaac Vs. Hank Paulson’s Bailout Machine — How The Former FDIC Chairman ALMOST Stopped TARP »
  by Yves Smith 12:48 pm

• Links 10/17/10
  by Yves Smith 6:13 am

• Investor Alert: It Isn’t Just Borrowers That Are Suffering At Servicer Hands
  by Yves Smith 5:30 am

• Goldman Launches PR Campaign to Burnish Its Tarnished Image
  by Yves Smith 5:24 am

• Rare Earths Row Continues to Build
  by Yves Smith 2:33 am

• Guest Post: 5 Myths About Rape – And How They Relate to TARP
  by Yves Smith 12:52 am

October 17, 2010

• Links 10/17/10
  by Yves Smith 12:59 am

• Guest Post: So Why Did the Mortgage Servicers Use “Robo Signers”?
  by Yves Smith 12:34 am

• Guest Post: Foreclosure Counterattack – Propaganda, Pseudo-Legality, and Thuggery
  by Yves Smith 12:20 am

• Has the Fed Painted Itself Into a Corner?
  by Yves Smith 12:05 am

October 16, 2010

• ForeclosureMom Raps
  by Yves Smith 10:10 pm

• Links 10/16/10
  by Yves Smith 5:41 am

• MSM Distancing Itself From Bank Party Line on Foreclosure Crisis
  by Yves Smith 5:12 am

• Puzzling Out China’s Saber Rattling
  by Yves Smith 3:56 am

• Foreclosure Fraud: We Need to Fix the Banks Again
  by Richard Smith 1:00 am

October 15, 2010

• Field of Schemes: David Einhorn’s latest short
  by Richard Smith 10:50 am

• Links 10/15/2010
  by Edward Harrison 10:00 am

• Foreclosure Crisis Finally Hitting Banks Where it Hurts: Their Stock Prices
  by Yves Smith 7:16 am

• Not to be outdone, FDIC joins the robo-signing club, too
  by Richard Smith 4:47 am

• Guest Post: Tim Geithner’s Magical Mystery Tour Of TARP Propaganda Has Little Use For Truth
  by Yves Smith 4:24 am

• Extreme Measures: Currency/Trade Tensions Rising, Will Action Follow?
  by Yves Smith 3:54 am

October 14, 2010

• Links 10/14/2010
  by Edward Harrison 9:32 am

• Are the Bank Foreclosure “Moratoriums” More PR than Real?
  by Yves Smith 5:19 am

• Wells Fargo Outed as Member of Robo Signer Club
  by Yves Smith 3:54 am

• Guest Post: The Foreign Exchange Mystery
  by Richard Smith 2:00 am

October 13, 2010

• The Wheels Are Coming Off in MBS Land: All 50 State AGs Join Probe; Banks Abandoning MERS Foreclosures
  by Yves Smith 4:19 pm

• Banks Looking Further Than Robo Signers; “Lost Note” Affidavits a Point of Failure
  by Yves Smith 10:20 am

• Links 10/13/10
  by Edward Harrison 9:57 am

• Antidote du Jour
  by Yves Smith 5:24 am

• Banks “Nothing to See Here” Versus Grim Reality on Foreclosure Front
  by Yves Smith 4:20 am

• Explaining the Mechanics of the Foreclosure Mess on BNN
  by Yves Smith 4:18 am

• Title Insurance Woes Illustrate Liabilities of Foreclosure Mess Concentrated in TBTF Banks
  by Yves Smith 4:00 am

• Conversation on Russia TV on Wall Street Conduct, Lack of Reform
  by Yves Smith 2:47 am

October 12, 2010

• Josh Rosner: “Could Violations of PSA’s Dwarf Lehman Weekend?”
  by Yves Smith 2:34 pm

• Links 10/12/10
  by Yves Smith 5:16 am

• The Belgian mess (III)
  by Richard Smith 4:36 am

• Auerback: You Can Thank Ben Bernanke for Higher Food Prices
  by Yves Smith 3:58 am

• Google Now Encroaching on Shadow Stats
  by Yves Smith 3:36 am

• The Irish Mess (III)
  by Richard Smith 3:00 am

October 11, 2010

• Lender Processing Services Has a Very Bad Day: Federal Bankruptcy Trustee Joins Litigation Against LPS on Behalf of All Chapter 13 Trustees in the US
  by Yves Smith 7:43 pm

• Bank Disinformation III: Obama Throws Weight Behind Banks, Housing “Market” Over Borrowers
  by Yves Smith 8:49 am

• Links 10/11/10
  by Yves Smith 7:11 am

• Bank Disinformation I: PR Machine in Overdrive on Foreclosure Fraud Front
  by Yves Smith 5:16 am

• Bank Disinformation II: Banks Attacking Rule of Law Frontally
  by Yves Smith 5:00 am

• Currency Tensions Rising
  by Yves Smith 4:02 am

• Satyajit Das: Pleasant & Unpleasant “Truths”
  by Yves Smith 1:29 am

October 10, 2010

• Links 10/10/10
  by Yves Smith 3:45 am

• “Summer” Rerun: Is the Commodities Boom Driven by Speculation?
  by Yves Smith 3:22 am

• A Comment on Comments
  by Yves Smith 3:20 am

October 9, 2010

• Links 10/9/10
  by Yves Smith 2:19 am

• Debunking Banks’ “Procedural Problems” Defense on the Foreclosure Crisis
  by Yves Smith 1:21 am

• Song of the Robber Baron
  by Yves Smith 12:55 am

October 8, 2010

• Bank of America Suspends Foreclosures in All States
  by Yves Smith 12:56 pm

• Links 10/8/10
  by Yves Smith 5:31 am

• More Tensions on the Currency Front
  by Yves Smith 5:01 am

• John Paulson Throwing Weight Around in DC Against Foreclosure Fraud Inquiries
  by Yves Smith 1:38 am

• Jon Stewart on the Foreclosure Mess
  by Yves Smith 12:47 am

October 7, 2010

• DC Waking Up to Escalating Foreclosure Train Wreck: Grayson Calls for FSOC to Examine Foreclosure Fraud as Systemic Risk
  by Yves Smith 4:14 pm

• Obama Will Not Sign Bill on Affidavits; Had Raised Worries as Free Pass to Banks on Foreclosures
  by Yves Smith 2:01 pm

• Links 10/7/10
  by Yves Smith 9:34 am

• Now It’s Official: Obama Administration Blocked Scientist Estimates on BP Spill
  by Yves Smith 1:10 am

October 6, 2010

• Jim Quinn: Consumer Deleveraging = Commercial Real Estate Collapse
  by Yves Smith 11:31 pm

• More Law in the Hands of Banks: Breaking and Entering Homes in Florida
  by Yves Smith 7:19 pm

• Ohio Attorney General Sues GMAC Over Improper Affidavits; Maximum Damages Exceed $10 Billion
  by Yves Smith 6:56 pm

• Auerback: What’s Wrong With Japan (and the Shortcomings of QE)
  by Yves Smith 3:08 pm

• Links 10/6/10
  by Yves Smith 5:31 am

• Rule of Law Versus Bank Profits: Mortgage Fraud Edition
  by Yves Smith 3:40 am

• Public Option Duplicity Revisited: Yet More Evidence of Obama Spinelessness
  by Yves Smith 3:30 am

• Currency War Threats Escalating
  by Yves Smith 3:18 am

October 5, 2010

• Links 10/5/10
  by Yves Smith 4:45 am

• Multi-Billion-Dollar Class Action Suits Filed Against Lender Processing Services for Illegal Fee Sharing, Document Fabrication; Prommis Solutions Also Targeted
  by Yves Smith 1:41 am

• Lender Processing Services Tries to Claim that Recent Disclosures are “Mischaracterizations”
  by Yves Smith 12:35 am

October 4, 2010

• Links 10/4/10
  by Yves Smith 7:36 am

• Quelle Surprise! Team Obama Having Trouble Selling TARP Success
  by Yves Smith 2:15 am

• “Summer” Rerun: Is Liquidity All That It’s Cracked Up to Be?
  by Yves Smith 2:03 am

October 3, 2010

• Homes in Florida Seized Without Notice of Foreclosure: Suspicously Large Number of “The Dog Ate My Summons” Filings
  by Yves Smith 1:32 pm

• Links 10/3/10
  by Yves Smith 3:32 am

• Is China Getting Religion on Restructuring Its Economy?
  by Yves Smith 2:37 am

• 4ClosureFraud Posts Lender Processing Services Mortgage Document Fabrication Price Sheet
  by Yves Smith 12:01 am

October 2, 2010

• Links 10/2/10
  by Yves Smith 3:41 am

• UN Agency Warns of Unemployment-Related Unrest through 2015
  by Yves Smith 3:07 am

• Even Down Under, Banks Looking a Tad Exortionate
  by Yves Smith 2:29 am

• “Summer” Rerun: The Treasury Doth Speak With Forked Tongue (Housing Bailout Edition)
  by Yves Smith 1:31 am

October 1, 2010

• Bank of America Halts Foreclosures in 23 States; Connecticut AG Asks State Courts to Suspend Foreclosures for 60 Days
  by Yves Smith 6:00 pm

• Regulator Orders Seven Large Lenders to Review Foreclosure Procedures
  by Yves Smith 12:51 pm

• Links 10/1/10
  by Yves Smith 4:22 am

• Congressmen Attack LPS, Servicer Misconduct; PR Counteroffensive Starting
  by Yves Smith 3:34 am