Special Inspector General for the troubled asset relief programme will find that the Treasury abdicated its responsibility to protect the broader US economy
Read the original post:
Treasury under fire on impact of car rescues
Watchdog: Small banks struggling despite bailouts The Associated Press The Treasury Department's bailout program was designed with Wall Street megabanks in mind, according to a new watchdog report. The “one-size-fits-all” … and more
Fannie Mae, the large, government-owned mortgage finance company, reported a first-quarter loss of $11.5bn and said it would need to ask the Treasury Department for an additional $8.4bn as home loans continued to go bad at a record pace
Read more:
Fannie Mae asks for $8.4bn in aid
Affiliate Funnel System Scam ? Review & Mega Bonus! Use Affiliate Funnel System to Completely Destroy All Your Competitors and Dominate Your Niche! Subscribe to RSS. Subscribe via Email | RSS …. In sep Bush administration recommend moving governmental supervision of Fannie Mae and Freddie Mac under a new agency created within the Department of the Treasury. The changes are blocked by Congress, Fannie Mae and Freddie Mac combined purchases of incorrectly rated AAA subprime …
See the article here:
The Obama Recovery, Unemployment Rate, and the Truth Behind the …
Late last year the Treasury Department essentially agreed to provide a blank check to Freddie Mac and fellow government-backed lender Fannie Mae when the agency controversially removed the cap on federal support for the lenders. …. He has already run off to the next joint venture scam with Jarret and the rest of the con artist involved in the “green” movement, including Al Gore. Posted by: david | May 5, 2010 9:50:29 PM. I wonder why the Democrats are so anxious to …
Continued here:
Freddie Mac Asks For $10 Billion In New Federal Aid – Political Punch
The day that Tim Geithner lands in jail will be a day of celebration. Don’t count on it soon or ever, but Neil Barofsky, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), is now threatening criminal charges. Please cheer the following headline: Barofsky Says Criminal Charges Possible in Alleged AIG Coverup … [Neil Barofsky], the TARP watchdog has also criticized Treasury Secretary Timothy F. Geithner in reports and in congressional testimony for his handling of the …
Read this article:
Barofsky Threatens Criminal Charges in AIG Coverup, Goldman Sachs Abacus Deal, TARP Insider Trading; New York Fed Implicated
Are they returning them into the tax system in which they came from, the tax system that was looted just to keep their scam running? No! Let’s start with Wells Fargo. After being bailed out with our money in 2008, their top five … Did the Fed and the Treasury orchestrate a de facto bailout of Fannie Mae and Freddie Mac – at public expense and sans Congressional approval? John Hussman thinks so. He provides a detailed account of just how 1.5 trillion dollars got diverted …
Excerpt from:
Bill Totten's Weblog: The Financial Terrorists Who Destroyed Our …
Wall Street Coup Against US Complete, Israel Set To Fall Next Before It’s News … literally, hands the keys of the US Treasury to Wall Street in what is being called largest scam every perpetrated upon a modern Western society and …
See the rest here:
Wall Street Coup Against US Complete, Israel Set To Fall Next – Before It’s News
Fannie & Freddie (and as of December-2009, the taxpayer) are on the hook for another $5T, and growing. I expect to see another 20 housing market drop from the current levels, for easily another few $T in market losses. … “This scam program is only limited by the Treasury/Fed decision to say “Uncle” and stop buying. If they don’t stop buying, they can easily pick up another several $T, perhaps another $10T, now that we have a massive boom in the secondary market to …
Here is the original post:
Housing Financial Nonsense « Trader Rog's Blog
Are they returning them into the tax system in which they came from, the tax system that was looted just to keep their scam running? No! Let’s start with Wells Fargo. After being bailed out with our money in 2008, their top five … Did the Fed and the Treasury orchestrate a de facto bailout of Fannie Mae and Freddie Mac — at public expense and sans Congressional approval? John Hussman thinks so. He provides a detailed account of just how 1.5 trillion dollars got diverted …
See the article here:
Common Man News: The Financial Terrorists Who Destroyed Our …
They were fraudulent pyramid schemes, a “Charles Ponzi-Bernie Madoff scam .” Then and today, they collapsed, the way they always do when insiders pull the plug at the same time, cashing out to let their customers take the pain. …. ñ Dan Jester, former GS strategic officer involved in 2008 Treasury initiatives, especially the Fannie and Freddie takeovers and bailing out his former employer;. ñ Steve Shafran, formerly a GS Asian executive involved in Treasuryís guarantee …
Read more here:
Goldman Sachs: Master of the Universe
Are they returning them into the tax system in which they came from, the tax system that was looted just to keep their scam running? No! Let’s start with Wells Fargo. After being bailed out with our money in 2008, their top five … Did the Fed and the Treasury orchestrate a de facto bailout of Fannie Mae and Freddie Mac — at public expense and sans Congressional approval? John Hussman thinks so. He provides a detailed account of just how 1.5 trillion dollars got diverted …
Read the original here:
The Financial Terrorists Who Destroyed Our Economy Will Pay Zero …
Democrats in the US cited the damaging demise of Lehman Brothers as a reason for financial regulatory reform, as Republicans tried to link Tim Geithner, Treasury secretary, with the bank’s collapse in 2008
Follow this link:
Lehman’s fall said to justify reform
Are they returning them into the tax system in which they came from, the tax system that was looted just to keep their scam running? No! Let’s start with Wells Fargo. After being bailed out with our money in 2008, their top five executives … This just in from the Roosevelt Institute: De facto bailout for Freddie and Frannie Did the Fed and the Treasury orchestrate a de facto bailout of Fannie Mae and Freddie Mac — at public expense and sans Congressional approval? …
Visit link:
Mostaque Ali: Is America a banana Republic?
Are they returning them into the tax system in which they came from, the tax system that was looted just to keep their scam running? No! Let’s start with Wells Fargo. After being bailed out with our money in 2008, their top five … Did the Fed and the Treasury orchestrate a de facto bailout of Fannie Mae and Freddie Mac — at public expense and sans Congressional approval? John Hussman thinks so. He provides a detailed account of just how 1.5 trillion dollars got diverted …
Go here to see the original:
L'economista ($)mascherato: The Financial Terrorists Who Destroyed …
… last year of a $23.7 trillion total potential exposure was rendered antiquated by the quiet moves of Fed and Treasury in December to extend the Bailout limits to infinity, via lifting all limits on laundering the Bailout through Fannie and Freddie. …. We do get one piece of comedy out of the confluence of these pieces, as Krugman claims to take offense at Sorkin’s characterization of K’s part in the scam gambit of the Swedish-style “nationalization” idea. …
Visit link:
Lying Hacks « Volatility
For nearly three hours Mr Rubin, a former US Treasury secretary and director of Citigroup, and Chuck Prince, the former chief executive of the US financial giant, did manage to work their way through questions from the Financial Crisis Inquiry Commission
Read more:
Citi’s ex-grandees strain to keep cool
… Insurance Corporation (FDIC), Department of Housing and Urban Development (HUD), the Federal Trade Commission, the U.S. Department of the Treasury, Fannie Mae, Freddie Mac and the Lawyers’ Committee for Civil Rights Under Law. … The Rhode Island Loan Modification Scam Campaign Planning Committee is a statewide partnership of government, enforcement and non-profit agencies who came together in early 2010 because of their concern about the financial danger Rhode …
Read the original:
New Campaign Empowers Rhode Island Homeowners to Combat Loan …
The US Treasury Department on Thursday tapped former E*Trade Financial chief executive Donald Layton and former Electronic Data Systems chief executive Ronald Rittenmeyer for American International Group’s board of directors
Read the rest here:
US Treasury to appoint two AIG directors
Taxpayer losses from supporting Fannie Mae and Freddie Mac will top $400 billion, according to Peter Wallison, a former general counsel at the Treasury who is now a fellow at the American Enterprise Institute. “The situation is they are losing gobs … Reply | Quote. And where’s the investigation of the Federal Reserve Bank? This whole scam keeps being pushed aside by the very people who are entrusted to oversee our interests yet they are the biggest frauds. Lag Indicator …
View post:
Since the taxpayers are going to lose $400 billion from Freddie …
The name of the game is to create gigantic cash flows that the syndicate grabs from to its strategic position, as fraud continues with no semblance of prosecution. They control the USDept Treasury and the USCongress and the US Financial … Fannie Mae & Freddie Mac have begun a concerted effort to push back fraudulent loans to major banks that originated them. They reek of impropriety. Their faulty underwriting and approval process extends from lax confirmation of income, …
Read the original here:
Roland San Juan: Distress Signals on Crisis Watch
Today’s Breakfast with Dave is a long one, easily packing three days of work in a 19 page PDF as Rosenberg will not be writing the next two days. Here is a snip from Rosenberg called What’s On The Worry List?. Last week’s bond auctions did not go well. It seems that Japan and China did not show much interest. The lack of bids was no better underscored than in the 7-year Treasury note auction where the median yield was 3.29% versus 3.05% a month earlier. April is a cruel month for the U.S. …
Here is the original post:
What’s On The Worry List?
The US Treasury said it would sell its 7.7bn Citigroup shares in a move that would allow it to pull back its support of the bank, in which it owns a 27% stake
More here:
US Treasury to sell its 27% stake in Citi
Long term treasury yields are on the verge of breaking out. In the March 25 issue of Breakfast with Dave, Rosenberg mentions various factors in play. Despite signs of economic cooling in Q1 (around 2.5% growth and half the Q4 pace) and lower inflation expectations, the 10-year Treasury note yield is ratcheting up (in a destabilizing fashion) and devoid of any bearish economic data (for a range of technical/fund flow reasons as was the case in the summer of 2007). In technical lingo, it does …
Read the original:
Treasury Yields Rise; What’s Cooking?
Recall when we said HAMP is a scam ? A new GAO report confirms that conclusion (well not so dramatic but the statistics are the same!)When Treasury announced the program in March 2009, it estimated that HAMP could help 3 to 4 million borrowers. … Perhaps it shouldn’t be when you consider Fannie and Freddie have a good chance of costing taxpayers more than the bailouts of the banks (-$7 b.), AIG ($36 b.), and GM and Chrysler ($34 b.) put together according to this …
Originally posted here:
The Palgrave Econolog – story details
Long Island, NY – March 16, 2010 – (RealEstateRama) — NeighborWorks America today launched the national “Loan Modification Scam Alert Campaign” on Long Island to provide residents facing the possibility of foreclosure with vital information to guard against … including the Department of Housing and Urban Development (HUD), the Federal Trade Commission, the U.S. Department of the Treasury, Fannie Mae, Freddie Mac and the Lawyers’ Committee for Civil Rights Under Law. …
View original post here:
RealEstateRama:New Campaign Empowers Long Island Homeowners to …
… the Department of the Treasury, Fannie Mae, Freddie Mac, the Lawyers’ Committee for Civil Rights Under Law and other national, state and local partners to reach high-risk communities and populations often targeted for fraud activity …
Read this article:
nlc.org:New Tools Help Cities Alert Residents to Foreclosure …
It’s a growing problem across the country: Homeowners facing foreclosure are losing their money, and their homes, to loan modification scams . Information is your best defense. If you see the signs of a scam and know the facts, … The U.S. Department of Housing and Urban Development, The U.S. Department of Justice, The U.S. Department of the Treasury, State Attorneys General, National Fair Housing Alliance, Homeownership Preservation Foundation, Fannie Mae, …
See the original post:
Coastal Housing Today: Loan modification scams
The name of the game is to create gigantic cash flows that the syndicate takes advantage of from to its strategic position, as fraud continues with no hint of prosecution. They control the USDept Treasury and the USCongress and the US … FANNIE MAE PUSHBACK FAULTY LOANS: Fannie Mae & Freddie Mac have begun a concerted effort to push back fraudulent loans to major banks that originated them. They reek of impropriety. Their faulty underwriting and approval process extends …
Read more:
Running 'Cause I Can't Fly: Economic Snapshot: "Distress Signals …
Gary Gensler, Former Goldman Partner, Leads Derivatives Reform Effort As CFTC … Huffington Post (blog) In case anyone wishes to know, the reason Brooksley Born saw the danger of derivatives and Wall Street and Treasury didn't is because she was a lawyer and …
That’s why FHA, Fannie , Freddie, have been in the news lately, mostly in articles by idiots yelling about how bad it is that these NGO’s will have to ask Treasury for more money. The fact of the matter is that if the NGO”s/Gument …
Read more:
One Thousand Names for Fraud | The Economic Populist
“A year and a half after Treasury took over Fannie Mae (FNM, Fortune 500) and its smaller brother Freddie Mac (FRE, Fortune 500), Washington is just now prepping for a debate over their future. ….. This BLOG provides information about the latest economy & fraud issues surrounding us all. Posts information comes from multiple sources including public records, other blogs, magazines, newspapers, real estate listing aggregators and, of course, a variety of sources who …
See the article here:
List of MERS Board of Directors and A-Z List of MERS Member Banks …
“A year and a half after Treasury took over Fannie Mae (FNM, Fortune 500) and its smaller brother Freddie Mac (FRE, Fortune 500), Washington is just now prepping for a debate over their future. The discussion, relegated to the back …
See the original post:
LETS AUDIT THE FEDS….Sign Up! « Dinsfla Mortgage Foreclosure Fraud …
The US Treasury sold its block of Bank of America warrants the government received as part of its 2008 bailout of the nation’s biggest lender, netting more than $1.5bn
View original post here:
BofA warrants net $1.5bn
Fannie Taps Treasury for $15.3 Billion More After a 10th Loss – Bloomberg Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis – You Tube.
Read more from the original source:
More Money For Fannie Mae
Here is an interesting snip about mortgages and the housing situation both in the US and Canada by Dave Rosenberg in Monday’s Breakfast with Dave. Once again, this Houdini recovery has involved a situation where mortgage rates have plunged and yet Treasury bond yields have been rising – 30-year fixed rate mortgages have fallen to 4.93% and are sitting are record-tight spreads over long Treasury bonds (see Chart 7). Historically, the average spread is 150bps and this differential is now 20bps. …
Read this article:
The Mortgage Bubble
The “Loan Modification Scam Alert” campaign provides Maryland residents facing the possibility of foreclosure with vital information so they can guard against loan modification scams , find trusted help, and report illegal activity to trusted authorities … including the Department of Housing and Urban Development (HUD), the Federal Trade Commission, the U.S. Department of the Treasury, Fannie Mae, Freddie Mac and the Lawyers’ Committee for Civil Rights Under Law. …
The rest is here:
U.S. Senator Mikulski and NeighborWorks America Unite to Fight …
Kenny Marchant (R-Texas) has offered the Mortgage E-Verify Act that would require a mortgagor to be verified through E-Verify when applying for a modification of a home loan owned by Fannie Mae or Freddie Mac. … “Mandating its use as a condition for home mortgage loan modifications would help eliminate waste, fraud , and abuse in the system and bring integrity to the process. In fact, the Treasury Department’s Financial Crimes Enforcement division (FinCEN) estimates that …
Read the original post:
The Mexican Invasion and Occupation: Who Pays? ANOTHER FORM OF …
House Committee Opens Investigation Into Treasury's Mortgage Modification Program Huffington Post (blog) So they pretend that something exists that doesn't but then can't see the banking scam for what it is which is real. The Wall Street , banking and credit … and more
David Reilly at BusinessWeek takes dead aim at Treasury Secretary Tim Geithner and the New York Fed in Secret Banking Cabal Emerges From AIG Shadows.The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. Wednesday’s hearing described a secretive group deploying billions of dollars to favored banks, operating with little oversight by the public or elected officials. We’re talking …
More:
Secret Deals Involving No One; AIG Coverup Conspiracy Unravels
Not only is Bernanke coming under attack, questions keep popping up about treasury secretary Tim Geithner. Please consider The Question Geithner Can’t Escape: Why Pay Off AIG’s Partners? The latest political clamor over AIG, poised to combust next Wednesday at a House hearing on backdoor payments to banks that made risky deals with the company, centers on the Federal Reserve’s effort to conceal details of those payments. But senior officials, including Treasury Secretary Timothy Geithner, have …
Read this article:
Questions Geithner Cannot Escape
Washington regulators have rebuffed the CME Group’s attempt to fend off a challenge to its near-monopoly in the US Treasury futures market, saying the world’s biggest futures exchange’s defence is “unpersuasive”
More here:
US futures watchdog rebuffs CME
The Obama administration’s proposed bank levy is threatening the $3,800bn repurchase market, an obscure but fundamental source of funding for both financial groups and the US Treasury, executives and analysts have warned
See the article here:
Repo fears over US bank levy plan
Some Democrats echoed the demands of Republicans for the Treasury secretary to explain his role in the decision to pay off the credit derivative counterparties in full and try to keep details private
Continued here:
Geithner under pressure on AIG payments
We’ve given Fannie and Freddie a blank check. 6. Banks can make money borrowing from the Fed and then lending it back to the government in the Treasury market. So tell me how 2010 and beyond won’t be a mess? …
See original here:
EconomicPolicyJournal.com: Robert Rubin: All Hell Could Break …
The Freddie and Fannie Scam . From the WSJ editorial page. Happy New Year, readers, but before we get on with the debates of 2010, there’s still some ugly 2009 business to report: To wit, the Treasury’s Christmas Eve taxpayer massacre …
Read this article:
EconomicPolicyJournal.com: The Freddie and Fannie Scam
The US Treasury will become the majority shareholder of GMAC, the former lending arm of General Motors, as part of a restructuring announced on Wednesday.
Read more:
US Treasury takes majority stake in GMAC
The recent rise in long-term US interest rates comes as good news for several leading hedge fund managers, including John Paulson, who have positioned their trading books to benefit from higher yields on US Treasury securities
See the original post here:
Top hedge funds bet on big yields rise
Bloomberg is reporting that Fannie Mae and Freddie Mac’s regulator is renegotiating the terms of the housing agencies’ financial rescue with the Treasury Department. … It’s quite the scam , and it’ll continue both Moody’s and Standard and Poor’s rate their debt AAA and Aaa respectively. I read where the AMA wants to break them up, whilst the ABA is mute on the subject. I have large stakes in FNM and FRE so I hope both of them keep-on-keeping-on! Besides the next bubble …
Visit link:
Fannie Mae and Freddie Mac may need another bailout – The Curious …
Remember the ridiculous claim that taxpayers would not lose a dime on Fannie Mae or Freddie Mac when they were seized 16 months ago? It’s certainly no surprise in this corner but Fannie, Freddie Overseer May Seek More Treasury Aid Fannie Mae and Freddie Mac’s federal regulator is renegotiating the companies’ financing plan with the U.S. Treasury Department and may seek an increase to their $400 billion federal lifeline before the end of the year, according to people familiar with the …
Continue reading here:
Fannie Freddie May Need Another $400 Billion Taxpayer Assistance