Children Affected By the Foreclosure Crisis

For those judges, legislators, and critics who STILL like to blame the foreclosure crisis solely and squarely on homeowners who bought jet skis (and who also “splurged” in bailing out the banks),  and those who seek to punish American families, many of them laid off or uninsured or bankrupt, and trying to effect a workout […]

Sheila Bair’s Editorial and Other Tidbits From Taibbi

Matt Taibbi wrote a blog post talking about various tidbits of interest, including that Sheila Bair posted an editorial in the Washington Post, comparing the handouts and freebies we’ve given to the banks to a solution of giving the American people loans of $10 mil each to invest in the economy: I hope everyone saw […]

Freddie Mac Forcing Foreclosures, Do Not Be Fooled

Here’s a recent article, Why Freddie Mac Has Misled Others About Short Sale Payoff Fraud,  on Freddie Mac [thanks Jessica!] and its draconian policies regarding short sales, and other loss mitigation, as well as its discouragement of private investing in real property. The recent revelation that Freddie Mac’s business unit has bet billions that home loan […]

In re Bear Stearns Mortgage Pass-Through Certificates Litigation: Statute of Limitation and Statute of Repose Defense Bites the Dust

Remember when we posted about the Mortgage-Backed Securities sleeper defense regarding the statute of repose tied to the Securities Acts of ’33 and ’34  Well, a version of that defense was blown out of the water in the recent decision of In re Bear Stearns Mortgage Pass-Through Certificates Litigation, (S.D. N.Y. Mar. 30, 2012).In […]

What Does Corruption Cost You?

On a side note (but not entirely unrelated) from our typical foreclosure, financial industry muckraking, in honor of tax day, this is a good series by Matt Stoller for the Republic Report. Corruption is Why You Can’t Do Your Taxes in Five Minutes Corruption Responsible for 80 Percent of Your Phone Bill