Analysis: Regulators Want to “Build Second Table” for Financial Fraud Claims

By: Thursday February 9, 2012 7:22 am

I think you can divine what I think of the foreclosure fraud settlement which releases liability on a host of fraudulent conduct for only a $5 billion guarantee from the banks, as well as $20 billion made up mostly of “credits” that HUD believes will translate into around $34.5 billion overall. The credits play out [...]

On Maddow, Schneiderman Delivers Eloquent Defense of the Rule of Law

By: Wednesday October 26, 2011 8:55 am

Molly Ball, a reporter who interviewed me at the very first Yearly Kos when she was at the Las Vegas Review-Journal, and who now writes for The Atlantic, decides to make giant pronouncements about the “hard right” and “hard left” positions in the housing debate. In the politics of housing, “On the one hand, there [...]

FHFA Refi Plan Helps Banks Reduce Liability on Bad Loan Origination

By: Monday October 24, 2011 8:57 am

I said in my initial story on the new refi plan for Fannie and Freddie-backed homes that it’s not a housing plan, but a stimulus plan. Really important to keep that in mind. The housing market is depressed because of $700 billion in negative equity. This plan wouldn’t touch dollar 1 of that. It’ll put [...]

Largely Isolated Commentary Raging About Executive Assassination of Anwar al-Awlaki

By: Friday September 30, 2011 11:39 am

If you knew where to look, you could find a healthy debate about today’s announcement of the government-sponsored killing of Anwar al-Awlaki, a US citizen. Over at Wired there’s a debate about the Constitutionality of the drone strike, between law professors Charlie Dunlap and Mary Ellen O’Connell, who says that “The United States is not [...]

Mubarak, Sons to Be Tried for Murder in Egypt

By: Tuesday May 24, 2011 9:45 am

Here we have a country, just through a revolution, a transition in power, holding the sinners of the past accountable for their crimes, no matter how powerful or influential. They are not concerned with healing or looking forward instead of backward. They seek justice. I’m not talking about the United States, obviously. I’m talking about [...]

Hosni Mubarak to Egypt: “I’m Sorry”

By: Tuesday May 17, 2011 10:14 am

The Egyptian resolution has brought Hosni Mubarak to his knees. Literally, according to Al Arabiya. Former president Hosni Mubarak is to apologize to the nation and plead for amnesty, three months after he was overthrown by a popular uprising, the country’s military leader called on his people to help improve internal security and work for [...]

Obama Administration Doing More to Enforce the FACE Act

By: Friday May 6, 2011 8:35 am

The Justice Department has been enforcing the laws on abortion access with more frequency in recent years than its predecessors. The shift from an anti-choice to a pro-choice executive branch should make this obvious, but nonetheless it’s welcome news. Since Obama’s inauguration, federal lawsuits have been filed against a woman who blocked a car from [...]

Ally Financial Says “All Good” on Robo-Signing

By: Tuesday February 1, 2011 2:02 pm

Earlier today, Al Franken said he inquired to Ally Financial about their robo-signing difficulties and got a form letter for his trouble. “It’s nice to see,” Franken quipped, “that Ally doesn’t treat homeowners any worse than they treat a Senator.” Franken could just read the paper today and find out that Ally went and fixed [...]

Bair Proposes Nationwide Claims Commission for Foreclosure Victims

By: Wednesday January 19, 2011 9:29 am

Marcy’s right; you cannot write the story of the economy without writing about housing and foreclosures, and the fact that Peter Baker thinks he can is an indictment of economic literacy in the media. It’s just obvious that continued slack in the housing market threatens any type of recovery, but precious few people in positions [...]

Homeowners, Community Groups Meeting with Iowa AG Tomorrow on Foreclosure Fraud

By: Monday December 13, 2010 12:04 pm

A group of homeowners and community activists from 12 states will meet tomorrow with the lead Attorney General in the foreclosure fraud case tomorrow, making a strong set of asks to Iowa’s Tom Miller and the other AGs on how to conduct the case. These are homeowners who are in danger of losing their homes [...]

Foreclosure Fraud Represents Banks Trying to Evade Eating Toxic Mortgages

By: Monday October 25, 2010 8:46 am

Business Week has a long piece about the foreclosure mess, and it approaches the subject from exactly the right angle. At the root, this is about who will have to eat Big Shitpile, the phase lovingly coined by Atrios to explain the mass of toxic mortgages written at the height of the housing bubble. Business [...]

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