• Archives

  • Blog Stats

    • 669,010 hits
  • Categories

A Proposed Bankruptcy for Banks That Will Lead to Bailouts

Livinglies's Weblog

The House passed a measure this month that would repeal Dodd-Frank’s orderly liquidation authority.Credit Susan Walsh/Associated Press

At a time when news about Russia, health care, terrorist attacks and horrific fires dominates the headlines, it can be easy to forget that Congress continues to try to undo the regulatory reforms enacted in the wake of the 2008 financial crisis.

And the Trump administration, despite getting into office on a wave of populism, seems quite willing to embrace Congress’s rather conventional deregulatory agenda.

One core piece of the congressional drive to dismantle Dodd-Frank is the move to repeal orderly liquidation authority and with it the special powers of the Federal Deposit Insurance Corporation to deal with big bank insolvency. Instead, Congress would leave the failure of big financial institutions to the general bankruptcy system.

If one desires to return to the Gilded Age…

View original post 585 more words

Advertisements

Fannie and Freddie Open Records Act Passes House!

LIBERTY ROAD MEDIA

fannie-mae-logo PARODY copy

Mnuchin on Fannie 43017

So I was watching the above video with Steve Mnuchin and Maria Bartiromo because of its title: “Mnuchin on Fannie And Freddie Funds Used to Pay for ObamaCare: It’s True”.  Bartiromo mentions in passing that a bill was being considered to make Fannie and Freddie comply with the Freedom of Information Act, which I had not heard about.  Sure enough, she was right, and it turns out that the bill—H.R. 1694, Fannie and Freddie Open Records Act of 2017 (click to read the text of the bill)—has passed the House and been sent to the Senate!

This is great news for those of us who, like me, were fighting against foreclosure and other mortgage shenanigans and tried to get FOIA info out of Fannie and/or Freddie but were told that Fannie and Freddie were private companies, even though they had been taken into conservatorship by the…

View original post 279 more words

July 4th, 2017: Let Due Process and Freedom Reign!

Foreclosures lead to profits for house flippers

http://www.truth-out.org/opinion/item/41151-foreclosures-lead-to-flippers-profits The United States has entered a new phase of residential foreclosure. The basic narrative is shocking: House-flippers are being allowed to push troubled homeowners out of their houses. As a neighbor of mine said, succinctly, “It’s cheaper for them.” In an ugly way, house flipping is a sweet deal in any area where the […]

via Foreclosures Lead to Flippers’ Profits — Livinglies’s Weblog

That is outrageous that anyone that has a direct pecuniary interest in foreclosing on a homeowner would ever be allowed to become a substitute trustee.  This practice needs to stop now.

 

%d bloggers like this: