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How Much “Bias” and “Stand Down” Was Ordered Concerning the TBTF Banks During 2008-2016?

Deadly Clear

By Sydney Sullivan, Co-Editor and Contributing Researcher

An interesting post by Richard Bowen on June 21, 2018, The DOJ report: Another Political Hot Potato? brings up very significant questions.

Mr. Bowen writes, “Department of Justice (DOJ) has yet to prosecute any of the major players responsible for the 2008 financial crisis. I think we need to ask if bias was responsible here as well.”

Hopefully, folks are following “[T]he Justice Department’s report on the FBI’s handling of the Clinton email scandal and other actions in advance of the 2016 election is already a political hot potato,” as Mr. Bowen begins his post.

“The report has President Trump supporters saying “Told ya so” and the general public questioning how the DOJ and the FBI runs its departments. And rightfully so.

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Green Light for City-owned San Francisco Bank

Sadly even though it is almost 5 years since this article, neither San Francisco nor any other city in California, nor the State of California itself appear to be any closer to establishing a public bank. That is a testament to the power and political influence of the big banks which can afford to donate to both politicians in both parties to make sure that their nests are always well feathered.

WEB OF DEBT BLOG

When the Occupiers took an interest in moving San Francisco’s money into a city-owned bank in 2011, it was chiefly on principle, in sympathy with the nationwide Move Your Money campaign.  But recent scandals have transformed the move from a political statement into a matter of protecting the city’s deposits and reducing its debt burden.  The chief roadblock to forming a municipal bank has been the concern that it was not allowed under state law, but a legal opinion  issued by Deputy City Attorney Thomas J. Owen has now overcome that obstacle.

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The Global Banking Game Is Rigged, and the FDIC Is Suing

WEB OF DEBT BLOG

Taxpayers are paying billions of dollars for a swindle pulled off by the world’s biggest banks, using a form of derivative called interest-rate swaps; and the Federal Deposit Insurance Corporation has now joined a chorus of litigants suing over it. According to an SEIU report:

Derivatives . . . have turned into a windfall for banks and a nightmare for taxpayers. . . . While banks are still collecting fixed rates of 3 to 6 percent, they are now regularly paying public entities as little as a tenth of one percent on the outstanding bonds, with rates expected to remain low in the future. Over the life of the deals, banks are now projected to collect billions more than they pay state and local governments – an outcome which amounts to a second bailout for banks, this one paid directly out of state and local budgets.

It is not…

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Fox in the Hen House: Why Interest Rates Are Rising

WEB OF DEBT BLOG

The Fed is aggressively raising interest rates, although inflation is contained, private debt is already at 150% of GDP, and rising variable rates could push borrowers into insolvency. So what is driving the Fed’s push to “tighten”?

On March 31st the Federal Reserve raised its benchmark interest rate for the sixth time in 3 years and signaled its intention to raise rates twice more in 2018, aiming for a fed funds target of 3.5% by 2020. LIBOR (the London Interbank Offered Rate) has risen even faster than the fed funds rate, up to 2.3% from just 0.3% 2-1/2 years ago. LIBOR is set in London by private agreement of the biggest banks, and the interest on $3.5 trillion globally is linked to it, including $1.2 trillion in consumer mortgages.

Alarmed commentators warn that global debt levels have reached $233 trillion, more than three times global GDP; and that…

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Punitive Damages for Violations of Automatic Stay in Bankruptcy §362

Livinglies's Weblog

Since 2008 I have called out bankruptcy practitioners for their lack of interest in false claims of securitization. The impact on the bankruptcy estate is usually enormous. But without aggressive education of the presiding judge the case will not only go as planned by the banks, it will also lock in the homeowner to “admissions” in bankruptcy schedules and orders that lead to a false conclusion of fact.

Where a pretender lender ignores the automatic stay Bankruptcy judges are and should be very harsh in their penalty. The stay is the bulwark of consumer protection under bankruptcy proceedings which are specifically enabled by the U.S. Constitution. Hence it is as important as free speech, freedom of assembly, freedom of religion and the right to keep and bear arms.

The attached article shown in the link below gives the practitioner a running start on holding the violator responsible and in giving…

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Student Loans: “Best Value”(?!), An Erroneous Idea, and Next Steps — MEDIATBANKRY

“We don’t want loans. We want grants!” —Yours truly, circa 2000s, on paying for college “We are creating a ‘lost generation’ of young adults; they’re overwhelmed by their student loans!” —Recent comment from a friend This article identifies two things that are wrong with our student loan system (Exhibits “A” & “B”) and […]

via Student Loans: “Best Value”(?!), An Erroneous Idea, and Next Steps — MEDIATBANKRY

They should also revise the rules that make it next to impossible to discharge a student loan. If the lenders had to worry about student loan debtors discharging their student loans in the same way they can discharge their taxes they would tighten up their lending standards.

BILLIONS MADE AS HOUSING GOES DOWN UNDER SWEETHEART FDIC LOSS SHARING DEAL — Livinglies’s Weblog

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S COMMENT: On the IndyMac portfolio alone, they made billions while the investors and homeowners got crammed down with double-talk about where the money went. I have been saying for years that there is far more money to be made by banks, servicers, […]

via BILLIONS MADE AS HOUSING GOES DOWN UNDER SWEETHEART FDIC LOSS SHARING DEAL — Livinglies’s Weblog

This article is an excellent explanation of why OneWest and others are more interested in foreclosing than exploring other solutions. They make more money when they foreclose because of the sweetheart deals that they finagle from the FDIC and other government agencies.

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