• Archives

  • Blog Stats

    • 676,496 hits
  • Categories

The Public Banking Revolution Is Upon Us — WEB OF DEBT BLOG

As public banking gains momentum across the country, policymakers in California and Washington state are vying to form the nation’s second state-owned bank, following in the footsteps of the highly successful Bank of North Dakota, founded in 1919. The race is close, with state bank bills now passing their first round of hearings in both […]

via The Public Banking Revolution Is Upon Us — WEB OF DEBT BLOG

Hopefully the public banking movement will continue to gain momentum in key states such as California which could definitely use a public bank.

Why Is the Fed Paying So Much Interest to Banks? — WEB OF DEBT BLOG

“If you invest your tuppence wisely in the bank, safe and sound, Soon that tuppence safely invested in the bank will compound, “And you’ll achieve that sense of conquest as your affluence expands In the hands of the directors who invest as propriety demands.” — Mary Poppins, 1964 When Mary Poppins was made into a […]

via Why Is the Fed Paying So Much Interest to Banks? — WEB OF DEBT BLOG

That is outrageous that the Federal Reserve is paying the big banks $36 billion dollars per year in interest. The big banks are paid 2.4% for parking their reserves with the Federal Reserve while the big banks only pay about 0.10% on the average savings account.

Conflict of Interest: Foreclosure Mills

Livinglies's Weblog

Despite warnings from Bar Associations and CLE courses that have been reported on this blog going back to 2008, lawyers routinely come into court and say “Good Morning your Honor, my name is John Smith and I represent US Bank.” That is not exactly true. In fact, it is a misrepresentation. In most cases the foreclosing party is named as a Trust, not a bank.  And the real client paying attorney fees is the CURRENT named servicer, who is taking instructions pursuant to some indemnification agreement with the named Master Trustee stated in the “trust instrument” (Pooling and servicing Agreement).

Not one of those parties has any interest in preserving the value of the collateral and in fact they all make a great deal of money when the foreclosure sale is “completed” and if the property is subject to a “credit bid” the proceeds of liquidation of the property to…

View original post 1,147 more words

WELLS FARGO GETS POUNDED BY U.S. GOVT FOR $2.09-BILLION … WITH A “B” … FINE!

This is good news although the government should have asked for a more substantial penalty such as $10 billion or more. The amount of $2.09 billion seems enormous to the average person but compared to the profits that Wells Fargo makes it is very small.

Clouded Titles Blog

(BREAKING NEWS / OP-ED) — 

Why are we not surprised?

Wells Fargo Bank, N.A. has agreed to pay the United States $2.09-billion for purposefully misrepresenting the quality of loans it sold to 118 individual REMIC trusts.

See the Settlement Agreement here: Wells Fargo RMBS Settlement Agreement (August 1, 2018)

We caution you that when checking into your particular REMIC, if in fact one of these named entities shows up in your chain of title, to have any related assignments reviewed by competent counsel (we have one if you don’t) who can testify as to the false and misleading statements contained within said assignment in court, should you be facing foreclosure.  Any bank attorney making oral misrepresentations and false statements in court regarding any one of the named REMIC’s (given the fact we don’t yet know if the actual investors are being reimbursed out of these settlement funds and to what…

View original post 261 more words

Trump Takes on the Fed

Great article. I was not aware that President Nixon had proposed the changes mentioned in this article.

WEB OF DEBT BLOG

The president has criticized Federal Reserve policy for undermining his attempts to build the economy. The best way to make the central bank serve the needs of the economy is to make it a public utility.

For nearly half a century, presidents have refrained from criticizing the “independent” Federal Reserve; but that was before Donald Trump. In response to a question about Fed interest rate policy in a CNBC interview on July 19, 2018, he shocked commentators by stating, “I’m not thrilled. Because we go up and every time you go up they want to raise rates again. . . . I am not happy about it. . . . I don’t like all of this work that we’re putting into the economy and then I see rates going up.” He acknowledged the central bank’s independence, but the point was made: the Fed was hurting the economy with its…

View original post 1,636 more words

Woman has her safety deposit box at BofA emptied out. Bank replies: Hey thanks for the update!

Justice League

ORANGEVALE (CBS13) – A woman says her bank let her safe deposit box vanish. And she’s not the only one.

Susan Nomi says when she went to open her Bank of America safe deposit box of 16 years, the entire box was gone.

That’s where she kept her family’s jewelry and her dad’s coin collection.

“I was in shock; I was just like what happened to my box,” said Nomi.

She says Bank of America can’t explain where her valuables went.

“They don’t have an answer. They don’t have an answer. They say thanks for letting us know,” she says.

Nomi was infuriated, especially considering she is a retired Bank of America employee of 40 years. And she’s not alone. Others have complained that Bank of America drilled their safe deposit boxes without permission or notice.

Wendy Woo says her belongings were taken out of her safe deposit box and…

View original post 14 more words

What is in the shadow banking (derivative) marketplace?

When this shadow market in derivatives falls apart the crash will be even larger than the last one.

Livinglies's Weblog

Whether the total “nominal” value is $600 Trillion as reported in the link below or $1 Quadrillion as reported elsewhere, we know only a few things and those things by themselves require intense scrutiny that the government doesn’t want to do. So the burden of the mortgage meltdown is put entirely on the backs of homeowners and the banks who made paper and actual profits far up into the trillions of dollars get to keep their ill gotten gains.

In 1983 there was no shadow banking market. It simply wasn’t allowed. There was a secondary market where actual mortgage loans could be bought and sold but no shadow banking marketplace.

So we went from $0 to $600 Trillion-$1 Quadrillion in largely unreported, unaccountable, offshore and off balance sheet transactions, the proceeds of which are laundered back into the balance sheets and income statements of the banks to guarantee that they…

View original post 346 more words

The Grand Deception — Dost-affixed-acations

THE GRAND DECEPTION AS TOLD BY A CHEVY CAMARO (trespass upon our property and living estate) by the living man, kenneth-william of the House Dost This story has to do with intentionally concealed MERS®, that is to say the MERS United States Registered Trademark and the underlying MERS/Nationsbank Credit Security Agreement, which is a material … Continue reading “The Grand Deception”

via The Grand Deception — Dost-affixed-acations

The Grand Deception — Dost-affixed-acations

THE GRAND DECEPTION AS TOLD BY A CHEVY CAMARO (trespass upon our property and living estate) by the living man, kenneth-william of the House Dost This story has to do with intentionally concealed MERS®, that is to say the MERS United States Registered Trademark and the underlying MERS/Nationsbank Credit Security Agreement, which is a material … Continue reading “The Grand Deception”

via The Grand Deception — Dost-affixed-acations

Navient Sued By State of Mississippi: Navient Lawsuit Claims Abuse — Consider The Consumer

It seems as if the state of Mississippi is suing Navient as Attorney General Jim Hood has filed a lawsuit against Navient Corporation. The complaint alleges that Navient is being charged with the deceptive and predatory loans. Here’s what we know about the Navient Lawsuit: Consumer Affairs states that the state, along with the Mississippi…

via Navient Sued By State of Mississippi: Navient Lawsuit Claims Abuse — Consider The Consumer

More states need to file lawsuits like this one.

%d bloggers like this: