Frontline Exposes DOJ’s Failure To Prosecute Wall Street

By: Wednesday January 23, 2013 5:55 am

Watch Alarm Bells In The Housing Market on PBS. See more from FRONTLINE. Last night Frontline aired a program on the Department of Justice’s failure to prosecute Wall Street executives over fraud in the mortgage market that caused the 2008 financial crisis. The program included compelling testimony from the “due diligence underwriters” those responsible for [...]

How the Suspension of the Rule of Law Makes for a Worse Economy

By: Friday August 31, 2012 11:45 am

As I noted yesterday, the Justice Department ended its investigation into the final two cases of suspected CIA torture, both of which resulted in deaths of the detainees (two of the over 100 detainees who have died in US custody). Glenn Greenwald writes eloquently and comprehensively on that as the final immunity given to the [...]

Lack of Financial Fraud Prosecutions a Festering Wound for Country, Economy

By: Sunday August 26, 2012 2:38 pm

The Sunday opinion section of the New York Times has an editorial they could have run every day for the last four years, asking why nobody has been prosecuted for the greatest financial collapse since the Great Depression. It’s really a familiar story, and while I appreciate seeing it in their pages, I hold no [...]

Federal Reserve, Regulators Arguing for More, Quicker Foreclosures

By: Wednesday June 27, 2012 12:44 pm

The Federal Reserve has decided to put their thumbs on the scales of justice, explicitly attempting to overturn state-based anti-foreclosure laws on the spurious grounds that they hurt the economy. This story by Tim Reid in Reuters cites the Fed arguing against the kind of laws in states like Nevada – and soon, California – [...]

The $2,000 Insult in the Foreclosure Fraud Settlement

By: Friday February 10, 2012 7:04 am

The WaPo editorial board’s biggest problem with the “rough justice” foreclosure fraud settlement is that robo-signing is a “victimless crime” because all those people were behind on their payments anyway, and that lucky duckies foreclosed upon might be getting $2,000 erroneously. That’s the media we have. Put aside the looming presence of servicer-driven defaults, fee [...]

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 [...]

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