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What ex-Texan is Spending More Time on Today

Painting: The First Snowfall 2009 xxxx xxx Price $ 850

Hartmann - Fukushima -- Is this the China Syndrome ___?

Fukushima Nuclear Plant Owner Falsified Inspection Records

Video: Global Earthquake and Volcano Overview - 5/30/2011

Shocking Report On Worldwide Fallout from Japan

U.S. Uses Fake Minimum Radiation Levels for Entire Nation

The Satanic New World Order by Henry Makow

Real Radiation Levels Are Much Higher !

Keeping the Useless Eaters Happy and Well Media Fed . . .

Gerald Celente: "The Power Elite Are Out of Control" -- Get Ready for WW III

Vintage Ron Paul Videos: The American Power Elite

Video: Beware The Second Real Estate Collapse is Coming in 2011 !

Peter Schiff On FW: Schiff "Bernanke Is A Liar And A Hipocrite!"

The New World Order is Here -- Elites Are Raping the World

Obama’s Elite Class Crushes All . . .

Is Greece the Future of America ___? YES !

Better Save Some of That Tear Gas for Portugal, Spain, Italy

Greece Shows Corruption of Politicians and Bankers vs. Common People

Video: Spain Wakes Up to Protest Widespread Corruption By Bankers and Politicians !

Codex is not a law. It is a secret Executive Committee of the United Nations based in Rome.

Food Safety Act -- S.510 -- Implements Executive Order Signed by Obama in June, 2010.

Best Video to Watch On Codex Alimentarius

Narrated by Dame Judy Dench - Featuring Many Public Figures

Jesse Ventura -- NWO Bastards Target Our Food Supply and Vaccines !

In Surprise Move, Senate Unanimously Passes Monsanto's "Food Safety" Bill !

Senate Bill S 510 Vote Passed ! -- What This Means For You

Dems Pull Fast One With Food Safety Bill !

House Democrats Institute ‘Martial Law’ to Speed Ambitious Lame Duck Agenda

Senators Were Paid Off to Support S.510 - 'Food Safety Act' Fraud

Judge Napolitano Proves Both Political Parties Are Fake !

We have fake political parties. We deserve them. Our fake political parties are doing their job well -- faking everybody out while Obama builds his tyranny network.

My Recent Message About the 'Food Safety Act' HR 2749

My Comment #362 on Thread: Codex Threatens Health of Billions

Obama Appoints Monsanto Fox To Guard Food Safety Hen House

Video: "Food -- The Ultimate Secret Exposed"

Monsanto & Cancer Milk: FOX News Kills Story and Fires Reporters

Video: Monsanto's World of 'Revolving Door' Government Corruption

What Will Happen If You Plan to Grow and Sell Organic Food

Jesse Ventura Exposes NWO Plot Behind "Global Warming" Scam

Obama: "OK for U.S. to Kill Americans Without Trial Anywhere"

Video: The Madness of a Lost Society

Video: Jesse Ventura: Corporate Media, Censorship and American Conspiracies

Are The Federal Reserve’s Crimes Too Big To Comprehend ___?

China & Russia Renounce U.S. Dollar for Bilateral Trade

Boomers & Retirees To Become Bailout & Currency War Casualties

SURVIVE ANYTHING! -- Chapter 2: Food Crisis

Federal Reserve is the Primary Tool Of The New Financial Oligarchy

Peter Schiff Talks About Gold, Silver and Economic Collapse in 2011 - 2012

Peter Schiff -- Our Government is Spending U.S. Into Economic Collapse

"Let's Get Real. The U.S. is Bankrupt," Says Economist Laurence Kotlikoff

Wake Up People: The U.S. Debt Clock

Waking Up to Discover the Mortgage Market Was a Giant Criminal Enterprise

Rolling Stone Editor Matt Taibbi Exposes MERS

Read My Comments On This Wall Street Fraud Here: #17 & #18

BP Disaster Was Engineered As Part of 0bama Cap 'N Trade Plan

Video: Jesse Ventura Investigates BP OIL SPILL -- Full Length

Satanic Symbology of Denver Airport: For What Purpose __? !

Photo Taken of A Chemtrail At Sunset in Portland, Oregon

Video: Proof Govt KC-10 Spraying Chemtrails

The Toxic Truth About Chemtrails

"Chemtrails - The Dark Truth" - Part 1 of 11

Video: What in the World Are They Spraying ___ ?

The Government Is Already Geo Engineering The Environment

Opinion: Chemtrails Are Geo-Engineering to Kill Off The Useless Eaters

Killer Chemtrails: The Shocking Truth

German Scientist Exposes Chemtrails As Secret Military Operation

Chemtrails Killed the Honey Bees - Secret NATO and UN Operation

These Are the Most Important Links Posted Here

Proof That Jesus Was Chosen By God

The Day of the Cross Was Chosen By God

This Presents More Objective Proof

Why I Am Certain of Many 'Small Miracles' in My Life

CBN News and CBN Television

We Need Millions of People Protesting New World Order -- Every City, Town and State

What the U.S. Needs - A National Strike Just Like Greece !

Like What Happened When Two Million People Protested Obama in Washington D.C.

Almost Two Million People Protest in Washington D.C.

British Paper Reports Up to Two Million Protest in Washington D.C.

Time Lapse Video of 9-12 Patriot March from 8 AM to 11:30 AM

The March Was Scheduled to Begin at 11:30 AM. People Started Showing Up At 8:00 AM Until After 1:00 PM. The Camera Was Turned Off at Exactly 11:30 AM. Hundreds of Thousands More Were Gridlocked On Freeways and Trapped By Traffic

Lying U.S. Media Reports Bogus Numbers !

C-Span Video Shows Enormous Crowds in DC

Slanted ABC News Reports Only 60,000 - 70,000 Showed Up

USA Today: Tens of Thousands Rally in D.C. Against Federal Spending

Click on Image

Click on Image

This is no longer the 'Land of the Free and the Home of the Brave' . . .

We are fast becoming 'a land of slaves and the home of sheep'

Site Ranking Meant Everything -- Until Obama

Obama's Doing ___ ? My web host Has Blocked Me From Updating My News Site For Over A Year !

I was able to speak to a live person one day in December, 2009. She was polite but could not help me update my news site. I found it impossible to follow her instructions. The host's file manager has been 'dumbed down' and will not accept HTML coding. Other web hosting companies demand a full year paid for in advance. After repeated telephone calls, my host connected me to a call center in India. Forcing me to listen to Indian music was a 'non-responsive response.' Talking to a live person gave me the same result. I have called repeatedly. Nobody has responded to my complaints. And the Indian phone rings off the hook. Then more bad foreign music.

It now appears I will have to abandon all efforts to update my news site. So Scr@w It !

I have other fish to fry. I do not believe in 'coincidences' or 'mistakes.' True Obama fanatics work exactly like Hitler's Nazi Brownshirts . . .

Ranked in Top .001% Out of About 57 Million News Sites

Ranked in Top .001% for Video Breaking News

Buy Swine Flu Masks N95 Rated Respirators Click Here

Scroll Down For Other Important Links and Vital Info

Video: Scientific Proof Global Cooling is Coming!

Russian Scientists: Earth on the Brink of an Ice Age !

Evidence is Here: -- Earth Faces Ice Age

Video: Bracing for Tomorrow. The Horizon Project

Bohemian Grove is Where 2,500 Of Our Leaders Engage in Demonic Idol Worship

Video: The Mystery of Molech Revealed

Learn About Another Form of Moloch

Video: Learn About Lucis Trust One World Religion

21 Goals of the Illuminati & The Committee of 300

Democrats New World Order Eagle

Have You Heard of the Georgia Guidestones ?

They Are a Monument Professing NWO Goals

Georgia Guidestones Reveal NWO Plan to Kill 90% of the World's Population

Please Watch "Endgame Revealed" -- Full Length Movie

Dr. Sherri Tenpenny: Flu Vaccines - What's Coming Through That Needle 1/3

Soros Group Wants Obama to Rule by Executive Order !

Other Important Links Are Posted Below

US Senior Citizen Speaks Out on Healthcare Bill - Part 1 .. Part 2

Video: George Carlin Speaks Out On The Owners of America Warning: Profanity !

Video: Tells How Mortgage Companies Steal Houses

Video: Explains Why Government Will Not Help Victims

Video: Money, Banking and the Federal Reserve

The Hard Truth About Credit Default Swaps

Good Reasons to Blame George Soros for Things Going Wrong in America

A Few Economic Links to Educate The Uninitiated

Banking Elite Rules Derivatives Trading By Holding Secret Meetings

Derivatives: The Quadrillion Dollar Financial Casino Completely Dominated By International Banks

Entering the Greatest Depression in History

Predicting Worse Ahead from America’s Economic Crisis !

A Year After Financial Crisis, the Consumer Economy is Dead

It's Twilight in Peter Schiff's America

Meltdown to Hit Agriculture, World Food Shortage Looms

Chart of the Day: Household Equity At the Lowest Point in 46 Years

Obama Supports Treaty Outlawing Gun Ownership !

Video: 'The Obama Deception'

Obama is Preparing for Civil Unrest in America !

Obama's Healthcare Eugenics Hoax Exposed

' Detention Camps __? . . . In America __? '. . . THE TIME TO WAKE UP IS PAST !

Click The Image For More Information

Video: Former Kansas State Trooper Talks About Roadblocks & Forced Vaccinations

Is Swine Flu A Path to Martial Law __? Read The Answer !

. . .

Jesse Ventura's Conspiracy Theory - Police State, FEMA CAMPS

Jesse Ventura Discovers Plastic Coffins for 400,000 People

Tyranny Response Team Exposes New FEMA Prison Camp in NJ

Tyranny Response Team Exposes Mobile Guard Tower

Video Proof: FEMA Camp Footage Posted on Line 2005

H.R. 645: Legislation May Establish 'Concentration Camps'

Below you can see the powers that the State can activate, thanks to these orders, when martial law is declared:


Executive Order Number



Allows the government to take control over all modes of transportation, highways, and seaports.


Allows the government to seize and control the communication media.


Allows the government to take over all electrical power, gas, petroleum, fuels, and minerals.


Allows the government to take over all food resources and farms.


Allows the government to mobilize civilians into work brigades under government supervision.


Allows the government to take over all health, education, and welfare functions.


Designates the Postmaster General to operate national registration of all persons.


Allows the government to take over all airports and aircraft, including commercial aircraft.


Allows the Housing and Finance Authority to relocate communities, build new housing with public funds, designate areas to be abandoned, and establish new locations for populations.


Allows the government to take over railroads, inland waterways, and public storage facilities.


Specifies the responsibility of the Office of Emergency Planning and gives authorization to put all Executive Orders into effect in times of increased international tensions and economic or financial crisis. 


Grants authority to the Department of Justice to enforce the plans set out in Executive Orders, to institute industrial support, to establish judicial and legislative liaison, to control all aliens, to operate penal and correctional institutions, and to advise and assist the President.


Assigns emergency preparedness function to federal departments and agencies, consolidating 21 operative Executive Orders issued over a fifteen year period.


Allows the Federal Emergency Preparedness Agency to develop plans to establish control over the mechanisms of production and distribution, of energy sources, wages, salaries, credit and flow of money in the U.S.A. financial institution in any undefined national emergency. It also provides that when a state of emergency is declared by the President, Congress cannot review the action for six months.

Click the banner. Watch the latest video news reports about saving 30% to 50% on your gasoline costs.

Video: News Report on Water Fueled Car

Japanese Plan to Build Water Powered Car !

Eat Your Heart Out Detroit . . .

Pumped About Savings With Water-For-Gas Conversion

Man Uses Hydrogen to Increase Gas Mileage

Local Man Runs Generator on Tap Water

It seems that HHO really works. The oil companies may even try to block some of the news links. Seems somebody is very angry about the truth getting out. Click the banner above to learn more. You can even buy the system directly from poor little ex-Texan. I ought to get something for all my efforts. Nobody else deserves a nickel. After all, without my diligent research, you would still be in the dark.

There are good reasons why the highly rated movie "Syriana" is gaining popularity on DVD: One is a scene where a corrupt lawyer kingpin, says, in effect, "We own the world until people figure out they can run cars on water."

The oil companies are spreading lies about the system. There are rumors being spread by major automobile magazines. People would rather gobble up shi'ite by the shovelful than admit the truth.

Video Report Speaks Loudly: "The Energy Non-Crisis"

Time for Some Humor on Free Republic !

Music Video: "With Every Breath Bernanke Takes" . . . Enjoy !

Time for Taxpayers to Protest Socialism for Wall Street !

The Reason Behind the Stock Market Collapse: The Federal Reserve

Annual Consumer Inflation is Higher Than Government Claims

Click Image to See Source of Statistics

The True Unemployment Rate is Over 20%

Chart of U.S. Unemployment

Charts Tracking 2009 and 1929 Great Depression

. .

Source: Tracking the Second Great Depression

Government Inflation Data at Odds with Reality

Video: Government Lying About Economy and Inflation

Video: 40% - 50% of Banks Have No Right to Foreclose!

America's Home Prices Falling Faster Than in Great Depression

Video: The Second American Revolution

Housing Bubble Leads to Deflation of Real Estate

Video: Beware The Second Real Estate Collapse is Coming in 2011 !

Housing Decline Voted "Top Business Report" of 2006

Housing Decline Voted #1 Business Report of 2006

Real Estate Turns Out To Be A House of Cards

About ex-Texan's "Housing Bubble" Posts:

I have stated on the record that by March, 2006 virtually everybody would be aware of the housing bubble. In fact, just today, March 10, 2006, ABC News Morning Show had a Special Report about the housing bubble. They interviewed two investment analysts that sold their New York condo and are 'sitting out the bubble.' These two astute people said they are saving a bundle over the cost of buying again. They plan to purchase another condo after housing crashes. ABC News invited a realtor to give a contrary view. But she admitted that selling out now and moving to a city with less expensive real estate was a new trend.

So my first prediction of 'National Awareness of the Bubble' proved to be correct. I said this would occur by the first quarter of 2006. My prediction has now taken place.

For the record, I was one of the first people to recognize there was a problem with hyper-inflated real estate. My first comment about excessive real estate prices was posted on Free Republic on or about March, 2003. I posted a few more comments about real estate prices in 2004.

About ex-Texan's "Mortgage Lender Failure" Posts:

Late in 2006, I predicted perhaps 100 lenders would go belly up in 2007. We hit that mark in late January, 2007. Then I adjusted my prediction upwards to say we may see "150 mortgage lenders" go belly up by December, 2007. On September 7, 2007 my prediction again came true -- three months early ! . . . As of December 10th - 200 Mortgage Lenders Had Imploded . . . The number of failed lenders is still growing daily. On December 31, 2007 the total was 221 . . .

On September 24, 2009 - the Total Hit . . . 363 !

The Big Question: Where Will You Borrow Money Now ? ?

Subprime and Alt-A Mortgages Will Reset Until 2012

Video: Here is 'The Real Story' for March, 2008

Must See Video Reports Below:

The Money Masters: How International Banks Control Everything

 PIMCO Senior V.P. on the Housing Bubble: Two Part Video

Home Prices Too High in 71 Cities

Growth in R.E. Prices: Compared to ".com Bubble"

Source: Elliott Wave International

Source: Forbes on Line

Source: Yardeni.com

U.S. Growth in GDP: Shown Both With and Without Mortgage Equity Withdrawal ["MEW"]

Source: Calculated Risk

Household Surplus (+) or Deficit (-)* $ Billions

* disposable personal income minus sum of expenditures
on consumer goods/service and residential investment

Source: Economic Commentary by Paul Kasriel

What Does This Really Mean to Me?

One Conservative View About Inflation in the U.S.

What I Think About the Housing Bubble

We Are Fighting a "War on Terror," right? . . . Then Why are Our Borders are Wide Open?

The photos of an abomination condo located in Los Angeles made me ill.

Asking price was $ 540,000.00. . . .The price was hyper-inflated

by about $ 290,000 in March, 2006.

Are You a "Mr. Housing Bubble" Fan ?

If You Are, Click This Link

What Happened to Saddam's WMD? News Reports About Iraq and Al Qaeda?

Hundreds of News Reports Here

Live on Line Video Links for All Major Television Media

All major news media links are posted on one site: FOX News, ABC, BBC, SKY News,

CNN, MSNBC, C-SPAN and even lousy CBS:

One Link for All Live Media

Buy Swine Flu Masks N95 Rated Respirators Click Here

"But nobody listens to me anyway. I'm just an old geezer living
in The Peoples' Republic of Oregon. . . .
Oh, well . . . whatever."

- - ex-Texan . . .

A Tiny Snapshot of Massive Corruption -- July 3, 2008

Source Here


Article  (Recent Additions) Author


7/3/08 Judge sentences ex-Refco CEO to 16 yrs in prison
The former chief executive of Refco Inc. was sentenced Thursday to 16 years in prison for a financial cover-up that brought down one of the world's largest commodities brokerages.
7/3/08 Bear Stearns' Hedge fund scammer tells NY judge he tried suicide
The unsympathetic judge replied that Samuel Israel III, who scammed nearly half a billion dollars from investors, must forfeit his $500,000 bail.
7/2/08 Regulators to Schumer on IndyMac: Please shut up LA Times Sen. Charles E. Schumer publicly taunted bank regulators last week about IndyMac Bancorp's financial condition, which helped trigger a sudden outflow of deposits from the Pasadena thrift.
7/2/08 A New Era Starts for Fidelity National’s Mortgage Services Business PAUL JACKSON


Beyond that, the company’s foreclosure and related services outsourcing business is among the most dominant in the residential default management space; the company owns roughly 40 percent of the market for outsourced foreclosures
7/1/08 Overpaying CEOs Ralph Nader - Nader.org  The worst top management of giant corporations in American history is also by far the most hugely paid. That contradiction applies as well to the Boards of Directors of these global companies.
7/1/08 State of Florida Sues Countrywide REUTERS Florida sued Countrywide Financial and its chief executive, Angelo R. Mozilo, on Monday, accusing it of engaging in unfair and deceptive trade practices in mortgage lending.
6/30/08 Foreclosure Defense: The Movement Grows — Borrowers Come out on Top Living Lies Blog Most home foreclosures being processed in New Jersey are illegal, a growing group of attorneys contends, because lending institutions cannot prove they own the debt they are trying to collect.
6/30/08 Mortgage ruling could shock U.S. banking industry Gina Keating - Reuters A lawsuit filed by a Wisconsin couple against Chevy Chase Bank could have major implications for banks should a U.S. appeals court agree that borrowers can cancel their loans en masse when their lenders violate a federal lending disclosure law.
6/27/08 Dickie Scruggs Gets 5 Years In Prison For Bribery Scheme Huffington Post One of the wealthiest civil lawsuit attorneys in the country by taking on tobacco, asbestos and insurance companies, was sentenced Friday to five years in prison for conspiring to bribe a judge.
6/26/08 Lawyers finding ways to stall foreclosures courierpostonline.com The attorneys are arguing that lending institutions can't always prove that they own the debt they're trying to collect. The lawyers say the formation of mortgage - backed security created a situation in which  failed to maintain the paperwork.
6/25/08 Subprime crisis: US foreclosures bring homelessness to the middle class Dan Glaister in Los Angeles and Anna Bruce-Lockhar tguardian.co.uk As mortgage foreclosures continue rising month on month, growing numbers of middle-class professionals are losing their homes and downsizing from four bedrooms to four wheels.
6/25/08 Illinois Plans to Sue Countrywide & Mozilo RUTH SIMON - WSJ The Illinois attorney general's office says it has found enough evidence of wrongdoing that it plans to file a civil suit against the Countrywide and its chief executive, Angelo Mozilo.
California attorney general sues Countrywide, claims company misled borrowers
CNN Money The lawsuit _ filed on the same day Countrywide shareholders approved the company's takeover by Bank of America Corp. _ stems from information gathered under subpoena after the state launched a probe last year into the troubled company's business
6/23/08 Bear Stearns Indictments: Could Jimmy Cayne Be Next? Finance Matters Bear Stearns CEO, Jimmy Cayne, told investors the bank had no liquidity issues. A few days later the securities firm was on the verge of bankruptcy and had to be rescued by an emergency acquisition and intervention by the Federal Reserve. "He could be in deep trouble," Harry First tells the New York Sun.
6/23/08 Homeowner Begs Bank To Foreclose MISH'S
Global Economic
"I don't want a penny, just take it," Lee said. "It's absolutely destroyed me — mentally, physically and emotionally."
6/22/08 Subprime arrests suggest Wall Street in it for themselves

Bloomberg News

The case "shows that one of the fundamental lessons of Enron - that you can't mislead investors about the state of company affairs - did not make it to the hedge funds," said Jacob Frenkel, a former SEC lawyer with Schulman Rogers in Rockville, Md. "The problem is saying the company is doing well when that's not true."

Bank of America Sets July 1 Closing Date For Countrywide Purchase

JAMES R. HAGERTY and VALERIE BAUERLEIN -WSJ Bondholders have expressed anxiety over whether Bank of America will take responsibility for all of Countrywide's debt.
6/20/08 Housing market weakness long-term: survey  Reuters Consumers expect housing market weakness to linger for longer than they did a few months ago
6/20/08 Area renters hit hard by foreclosure crisis
Little notice given to people, study says
Mark Gillispie
Plain Dealer Reporter
Many families have no idea that the bank has foreclosed until sheriff's deputies serve notice that a bank or new buyer has taken possession after a sheriff's sale
6/20/08 Merrill CEO may face new write-downs Elinor Comlay -Reuters For some time Merrill Lynch CEO John Thain has been stressing the brokerage does not need to take more write-downs or raise more capital, but his confidence may have been misplaced.
6/19/08 Former Bear Stearns Managers Face Criminal Charges:      The Timeline Yalman Onaran - Bloomberg The timeline of Bear Stearns events leading to today's arrests.
6/19/08 Bear Stearns execs indicted; emails at issue  with video Riley McDermid, MarketWatch They were charged in a nine-count indictment that alleged the two engaged in wire fraud, conspiracy and securities fraud in misleading investors about the rapidly tanking value of the two funds.
6/19/08 2 Bear Stearns managers charged on Wall Street in mortgage meltdown By TOM HAYS - AP "Any time you get losses into the billions, the likelihood that higher-level executives participated in decisions increases."
6/19/08 Bear Stearns Executives Ralph Cioffi, Matthew Tannin Indicted... 

FBI Announces "Operation Malicious Mortgage"

AP   |  TOM HAYS    The Department of Justice and Federal Bureau of Investigation (FBI) announced today a national takedown of mortgage fraud schemes, the culmination of substantial coordinated efforts during the last three and a half months to identify, arrest and prosecute mortgage fraud violators through the United States.
6/19/08 U.S. Charges 400 in National Mortgage Fraud Crackdown Robert Schmidt -Bloomberg Separately, the government today unsealed an indictment against two former managers of Bear Stearns Cos. hedge funds whose collapse helped ignite the subprime meltdown. The crisis has forced hundreds of thousands of people from their homes through foreclosures and triggered almost $400 billion in losses and writedowns on Wall Street.
6/19/08 Hundreds swept up in mortgage fraud arrests Associated Press Since March 1, 406 people have been arrested in the sting dubbed "Operation Malicious Mortgage" that saw 144 cases across the country. Sixty people were arrested on Wednesday alone.
6/19/08 Ex-Bear Stearns managers surrender to face criminal charges in NYC TOM HAYS, Associated Press Bear Stearns told Barclays that the enhanced fund was up almost 6 percent through June 2007 — when "in reality, the portfolio's asset values were plummeting."
6/19/08 Is Foreclosure "help" a smokescreen to shield lenders from legal liability? David Petrovich It's likely many of those distressed homeowners' rights were violated during the mortgage solicitation and origination process, and/or during the servicing of their loans. 
6/19/08 Angelo's Angel Wall Street Journal How much will Countrywide benefit from Mr. Dodd's rescue? The Senator's plan allows mortgage lenders to dump up to $300 billion of their worst loans on to taxpayers.  

Fall 2007


6/18/08 Lawsuits target mortgage fraud

State AG announces cases against 3 firms

Star-Ledger Staff
"This is fraud driven by greed," state Attorney General Anne Milgram said yesterday in announcing civil lawsuits charging numerous mortgage companies, real estate brokers, title companies, attorneys and appraisers with consumer fraud and racketeering.
6/18/08 Credit crunch could end up costing $1 trillion Associated Press There are new signs that the worst of the global credit crisis is yet to come, and that banks and brokerages caught up in the market turmoil may lose $1 trillion by the time it has passed.
6/18/08 Congress and the Countrywide Scandal Dick Armey The bill will allow troubled financial institutions to foist the riskiest mortgages in their portfolios onto the Federal Housing Administration (FHA) -- ultimately putting the American taxpayer on the hook for their bad bets.
6/18/08 Senate Submerged in Mortgage Scandal Fox News Now we know on occasion Jim Johnson — and this is the same Countrywide that Barack Obama criticized: "These are people responsible for infecting the economy and helping create a home foreclosure crisis." He personally took on the CEO, Angelo Mozilo.
6/18/08 Wall Street's credit crisis heads into second year
More credit losses seen costing global banks $1 trillion as credit crisis hits second year
By Joe Bel Bruno, 

AP Business Writer

The uncertainty has caused already battered investors to lose confidence in financial companies, and expectations have increased that more layoffs, asset sales and capital raising will be needed in the weeks ahead.
6/18/08 The MERS Fifty Million Mortgage Meltdown By LoanWorkout.org Reader 

Kevin Lamson

No Note -- No Foreclosure
In reality MERS is really nothing more than a shell, or a front corporation for its so-called “members”.  Many MERS  members are now reporting hundreds of billions of dollars of losses as result of their ill conceived scheme to ramp up mortgage origination so they could pretend to flip millions of mortgage loans into trusts in exchange for trillions of dollars of investors money. One big problem was that the promissory notes were never actually delivered to the trustees of these trusts. Therefore these trusts have no evidence of ownership of the debts they purportedly purchased.

Hedge fund fraudster faked death and fled, U.S. authorities say

Associated Press and Reuters Samuel Israel disappeared last week hours before he was supposed to start a 20-year federal prison sentence for bilking investors in his Bayou hedge funds out of $450-million (U.S.).
6/17/08 Morgan Stanley warns of 'catastrophic event' as ECB fights Federal Reserve Ambrose Evans-Pritchard - Telegraph.co.uk The point of maximum stress could occur in coming months if the ECB carries out the threat this month by Jean-Claude Trichet to raise rates. It will be worse yet - for Europe - if the Fed backs away from expected tightening. "This could trigger another 'catastrophic' event," warned Morgan Stanley.
6/17/08 Cities fight foreclosures with unusual tactics by Deborah Yao  
Associated Press
Last week, hundreds of people mobbed a court room in city hall after they were told about the court intervention program. Common Pleas Court Judge Annette Rizzo, said, "It was bedlam."
6/17/08 Fighting Soldier Foreclosures By Laura Fowler - WNCT.com
It's one of the most shocking statistics. In recent study shows foreclosures in U.S. towns that are centered around military bases are increasing at a rate almost four times the national average.

For cities, all foreclosure politics are local

Creative tactics to keep owners in homes; ‘We can’t wait’ for the Feds

Associated Press Philadelphia is just the latest in a growing number of cities — including Los Angeles, Baltimore, and Trenton, N.J. — that are taking matters into their own hands to help stop the nation’s housing crisis within their borders.
6/16/08 U.S. Reps Hear Foreclosure Stories in Cleveland with audio http://www.wcpn.org WARREN: Call it hurricane greed.
6/16/08 Tent City, U.S.A.



In the wake of the housing crash, "tent cities" have been springing up in several places in California.

Ex-Bear Stearns execs may face fraud charges

Report: Federal prosecutors set to file indictments tied to credit crisis

Reuters U.S. prosecutors are preparing to file criminal charges against managers of two Bear Stearns hedge funds whose collapse helped kick off the credit crisis last year, the Wall Street Journal reported on Monday.

How the housing bubble burst

The end of a boom that powered the U.S. economy for five years

Zachary A. Goldfarb and Alec Klein

Washington Post

The mortgage executives who gathered in a blond-wood conference room in Southern California studied their internal reports with growing alarm.
6/13/08 Dodd Tied To Countrywide Loans By DAMIAN PALETTA -WSJ In December 2007, he co-signed a letter to Federal Reserve Chairman Ben Bernanke that called these mortgages at Countrywide "abusive" because "these loans were not made on the basis of a borrower's ability to pay."
6/13/08 Foreclosures Rise 48% in May as Repossessions Double   bivry@bloomberg.net. Lenders took possession of 73,794 houses in May, more than doubling the 28,548 REOs in May 2007, RealtyTrac said. That pushed total REOs to more than 700,000, RealtyTrac said. ``Right now, lenders are afraid to lend and buyers are afraid they'll be under water in a year, so unless something dramatic happens we're going to continue to see the trend go in the wrong direction,''
6/12/08 Ex-Capital One employee files whistleblower lawsuit Reporting by Emily Chasan and Bill Berkrot


A former underwriter who says she was forced to resign after blowing the whistle on fraud at Capital One Financial Corp's subprime mortgage unit filed a $51 million lawsuit against her former employer on Thursday.
6/12/08 Callan, Gregory Out at Lehman Brothers By JED HOROWITZ -WSJ Ms. Callan -- a former tax lawyer and head of Lehman's once-thriving private equity firm relationship management group -- was deputized to defend Lehman against short-sellers who questioned the firm's claims that its exposure to bad real estate deals was under control and that its capital was sufficient.
6/12/08 Mortgagers' Dual Roles Clash David Wessel at capital@wsj.com Freddie Mac and Fannie Mae have a debt-to-equity ratio -- a measure of how leveraged they are -- of 27.6 and 19.6, respectively. By contrast, the ratio at Bank of America and J.P. Morgan Chase is about 3.9
6/12/08 Countrywide's Many 'Friends' Other participants in the V.I.P. program included former Secretary of Housing and Urban Development Alphonso Jackson, former Secretary of Health and Human Services Donna Shalala, and former U.N. ambassador and assistant Secretary of State Richard Holbrooke. Jackson was deputy H.U.D. secretary in the Bush administration when he received the loans in 2003. Shalala, who received two loans in 2002, had by then left the Clinton administration for her current position as president of the University of Miami.
6/12/08 Obama Adviser Resigns as Loans Surface By GLENN R. SIMPSON and JAMES R. HAGERTY -WSJ Perhaps the most unusual of Mr. Johnson's loans was one for more than $1.5 million last year for a real-estate project in Big Timber, Mont. At the time he got the loan, what the records indicate were Mr. Johnson's monthly obligations were nearly twice his stated monthly income,
6/11/08 D’OH-bama’s Mortgage Mess
This is change?
By Michelle Malkin - NRO Translation: I will remain willfully blind to the conflicts of interest created by my own mortgage industry-bashing rhetoric.
6/11/08 Sheriff Stops Foreclosures (For a While)
Carol Vinzant,
But back in 2004 and again this year, Sheriff Green just stopped doing the foreclosure sales. He wanted to buy enough time to sit lenders down with homeowners to work out a solution. His campaign website says he has saved thousands of people from foreclosure.
6/10/08 New York Fed Chief Calls for Regulatory Shake-Up By MICHAEL M. GRYNBAUM 

New York Times

One of the nation’s top central bankers called Monday for a significant overhaul in regulation of the financial industry, declaring that the current system of supervision is confusing and susceptible to “perverse” abuses.

6/10/08 F.H.A. Faces $4.6 Billion in Losses RACHEL L. SWARNS

New York Times

He said the mortgages had foreclosure rates three times those of traditional loans and would push the F.H.A. to the brink of insolvency.


Casinos on Wall Street

Ralph Nader - Nader.org Move over Las Vegas. The big time gamblers are on Wall Street and they are gambling with your money, your pensions, and your livelihoods.
6/9/08 It's Only Going to Get Worse

Everything you always wanted to know about the housing crash, but were afraid to ask.

by Lawrence B. Lindsey

Weekly Standard

It is the uniqueness of the current housing crash that adds to its intractability. Policymakers haven't been here before, so they're not certain of the way out. Many of the institutions that underpin the industry are relatively new--actually created since the last downturn in the early 1990s--and untested. We also know that many of those institutions were far from transparent, and some were fraudulent.
6/9/08 Subprime criminal probes yet to catch big fish By Martha Graybow and Randall Mikkelsen -Reuters More than a year into a U.S. housing market meltdown, prosecutors have yet to bring major cases against mortgage industry leaders

Top Talent Scout for Obama Tied to Subprime Lender Countrywide

Could Become a Political Liability

By JOSH GERSTEIN, New York Sun Long-standing ties between a member of Senator Obama's new vice presidential search team and a prominent mortgage executive the senator has pilloried could become a political liability that hampers the presumptive Democratic presidential nominee's ability to tap into public ire over the subprime mortgage crisis.
6/6/08 FIS Announces Offering of $400 million of Senior Notes of its Subsidiary, Lender Processing Services, Inc. by Certain Selling Noteholders Fox Business The notes to be offered have not been registered under the Securities Act or applicable securities laws, and until so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

Sheriff Takes The Law Into His Own Hands To Help Broke Homeowners

Trouble Is, He Is the Law;
Philly's Sheriff Green Doesn't
Do Foreclosures, to Lenders' Dismay

By MICHAEL M. PHILLIPS -WSJ It also prompted a sweeping, court-endorsed deal, scheduled to go into effect next week that aims to help homeowners avoid foreclosure.  Mr. Green's unilateral approach has pushed Philadelphia to the leading edge of local responses to the national crisis.
6/5/08 Ex-Champ Holyfield's Home Under Foreclosure Click2houston.com Holyfield's 235-acre Georgia estate -- worth an estimated $10 million -- is under foreclosure, according to a recent legal notice. It is set to be auctioned off next month.
6/5/08 Countrywide’s Mozilo Hushes Homeowner With an Unaffordable Loan Modification" By Moe Bedard Countrywide instructed Dan not to speak with the media; that the media are all bad guys looking to exploit you for their gain. He also told Dan that he would get the best loan of his homeowner life and that they would expedite him through the loan modification process.  COUNTRYWIDE LIED!  Dan is not happy that he was literally swindled and pressured into signing a deal that was made to fail.
6/4/08 Top Paid CEOs SCOTT DECARLO -Forbes At the bottom of our performance/pay rankings is Mozilo of Countrywide Financial, the distressed subprime mortgage lender. Countrywide's six-year annual return of -9% lagged in comparison with its sector, and its -6% annual return since Mozilo took over as top executive in February 1998 also lagged the S&P 500. Over the past six years, Mozilo has been collecting a paycheck averaging $66 million a year.
6/4/08 Ed McMahon's home faces foreclosure CNN There were nearly 650,000 foreclosure filings -- which include notices of default, auction sales and bank repossessions -- issued during the first quarter of 2008.
6/4/08 Mortgage Fraud Cases Up by Two-Thirds
USA Today
Some of these empty homes have "for sale" signs. Others bear signs saying "foreclosure." Authorities say hundreds of them should have a different sign out front, one that reads "fraud".
6/2/08 Class action lawyer Weiss sentenced to 30 months By Gina Keating - Yahoo! Assistant U.S. Attorney Doug Axel urged the judge to hand down the maximum under the plea deal, saying Weiss could have saved his law firm from the losses of cases and lawyers it suffered as the investigation dragged on. "He could have done the right thing and stepped forward and deflected (harm) from the firm," Axel said.
White paper Mortgage Default Risk and Real Estate Prices Karl E. Case / Robert J. Shiller The use of Index-based Futures and Options in Real Estate. Written by a current director of the Board of MGIC 4 years before he became a member of the MGIC Board, and had ties to several players
5/30/08 At Bear, an Apology Is Met With Silence By LANDON THOMAS Jr.

NY Times

But Bear’s balance sheet is rife with financial landmines, and with market conditions worsening, JPMorgan executives have cut hundreds of more jobs than they had anticipated. About 7,500 Bear Stearns bankers have lost their jobs, along with as many as 3,500 employees of JPMorgan.
5/29/08 Keep foreclosure at bay from the unscrupulous

Calling foreclosure "the most impersonal, awful, most traumatic thing that can happen to someone,"

They have been putting together a program that will offer free services to people who are in foreclosure due to dishonest lending practices.

Johnson's mortgage lender had filled out Johnson's loan application for her, and falsified it so that it would appear to underwriters that she could afford a loan of $83,000. The broker also lied on the application about the age of the house, and falsely lowered the size of Johnson's outstanding debt. He inflated her current mortgage rate on the application from $450 to $778 to make it appear she could afford a higher payment, and lied about the value of her home, saying it was worth $225,000 when it was assessed at $76,000. The application also stated falsely that Johnson received rental income.
5/29/08 Bank of America decides not to retain Countrywide's No. 2 executive By E. Scott Reckard and Kathy M. Kristof, Los Angeles Times "Countrywide did more to contribute to the sub-prime mortgage crisis than anyone else," Schumer said. "It always amazed me that Bank of America would want to keep someone who was in effect Countrywide's chief cook and bottle washer on the scene."
5/28/08 Anatomy of Mortgage Fraud http://bonddad.blogspot.com Fannie Mae said it is reviewing every loan that defaults -- and seeking to force lenders to buy back loans that failed to meet promised quality standards.
5/28/08 Investors Putting Bad Loans Back To Lenders - This Is Only The Beginning. mrmortgage.ml-implode.com Ultimately, I believe that outright fraud, ‘white-lie’ fraud and lender negligence will be major deciding factors in the ownership of loans and the accompanying losses.
5/28/08 Suffering From Foreclosure Scams by Barbara E. Hernandez | CONTRA COSTA TIMES Elias Escobedo, 41, lost his house earlier this month when it was foreclosed on, but not because he didn’t pay his mortgage.
5/28/08 Foreclosure Pain Affecting 12,000 Families

Mortgage companies refuse to renegotiate, inviting foreclosure  VIDEO

myfoxtwincities.com Foreclosures are rampart while the economy weakens and the housing market slides, and as families beg for mortgage renegotiations, many companies are refusing to budge.
5/27/08 Lost Opportunities Haunt Final Days of Bear Stearns  - 3 PART SERIES kate.kelly@wsj.com But its stock continued to spiral down, its clients continued to flee and its trading partners continued to disappear.
5/26/08 SEC Might Rate Ratings Agencies
, - Forbes Usually ratings agencies dish out the "we're watching you" edicts, but on Monday, the U.S. Securities & Exchange Commission announced that it has begun investigating Moody's, Standard & Poor's and Fitch regarding "aspects of their methodology."

Bank failures to surge in coming years

IndyMac, Corus, UCBH under pressure as credit crunch slows economy

By Alistair Barr, MarketWatch
Holloway, a 30-year FDIC veteran, had worked extensively with failed lenders in Houston during the Savings and Loan Crisis in the late 1980s and early 1990s, when thousands of thrifts collapsed.
5/22/08 Countrywide Buys Homeowner’s Silence Over Angelo Mozilo’s “Disgusting” Email Moe Bedard-LoanWorkout.org Welcome to the new way of putting muzzles on homeowners that can shed some light on Countrywide’s widely known practice of customer abuse.
5/22/08 Countrywide’s Mozilo Calls Borrower’s Plea “Disgusting”

Elizabeth MacDonald

EMAC's Stock Watch

Mozilo's response is so "disgusting", it is worth repeating with this article.
5/22/08 Advocacy Group Wants to Forestall Foreclosures By Lesley Mitchell, The Salt Lake Tribune Homeowners are having difficulty working directly with a mortgage servicing company, which may or may not be the same company that originated their loans.
5/21/08 Countrywide Financial Chairman Angelo Mozilo's e-mail sets off a furor By E. Scott Reckard,

 Los Angeles Times

Apparently clicking "reply" when he meant to hit "forward," Countrywide Financial Corp. Chairman Angelo Mozilo ignited an online furor Tuesday by describing a mortgage customer's plea for help as a "disgusting" example of form letters inundating the Calabasas home lender. [It wasn't so much that they didn't understand; they were misled.-MSF]
5/19/08 Woman fights to keep her Glendale home initially seized for $68 debt By Erin Alberty
The Salt Lake Tribune
Ramos has been involved in a protracted legal battle to retain ownership of the house. It was sold at a county sale after it was seized to pay a dental bill.
5/19/08 Squatting rises in U.S. along with foreclosures By Jason Szep Reuters Squatting is on the rise across the United States as foreclosures surge, eviction notices mount and homes go unsold for months, complicating the worst U.S. housing slump in a quarter-century and prompting real estate brokers to enlist the help of law enforcement and courts to sell empty houses.
6/27/06 Symphony of Greed, Intro Chapter

"Financial Terrorism and Super-Crime on Wall Street."

Bob O'Brien - Sanity Check What was needed was a one-stop-shop, where a guy with an average education could sit on a plane cross country, and by the time he landed, know enough to be dangerous
Ellen Brown -Web of Debt “To prove the case of illegal insider trading, all the Feds have to do is ask a few questions of the persons who bought puts on Bear Stearns or shorted stock during the week before March 17, 2008 and before. All the records are easily available. If they bought puts or shorted stock, just ask them why.”
5/18/08 The Scars of Losing a Home By ROBERT J. SHILLER
New York Times
The pain of this reverse movement could leave a psychological scar that will be with all of us for the rest of our lives.
5/17/08 Yes, But: The Subprime Litigation Wave Rolls On Kevin LaCroix If the lawsuit filings just in the last week are any indication, the litigation wave will continue to roll on for the foreseeable future.
5/17/08 Foreclosures take an emotional toll on many homeowners By Stephanie Armour, USA TODAY "It is believed that the Donacas committed suicide after attempts to save their home following a foreclosure notice left them believing they had few options," the Crook County Sheriff's Office said in a report.
5/15/08 Judge: Countrywide shareholders' suit can proceed
The Associated Press
A federal judge has ruled that a shareholder lawsuit against Countrywide Financial Corp. executives and directors should go to trial, rejecting several arguments by the troubled mortgage lender to dismiss the case.  In a ruling issued Tuesday, U.S. District Judge Mariana R. Pfaelzer in Los Angeles sided with several public pension funds, finding that their witnesses' accounts of Countrywide's business practices were compelling.
5/15/08 Senator wants FTC to join Countrywide investigation By Kevin McCoy, USA TODAY A top Senate Democrat on Wednesday asked the Federal Trade Commission to join other government and court agencies investigating Countrywide Financial, (CFC) the nation's largest home mortgage lender
5/14/08 US foreclosure filings surge 65 percent in April By Alex Veiga
AP Business Writer
Nationwide, 243,353 homes received at least one foreclosure-related filing in April, up 65 percent from 147,708 in the same month last year and up 4 percent since March, RealtyTrac Inc. said.
5/14/08 Schumer urges regulators to investigate Countrywide Associated Press Bankruptcy judges have criticized the company for arguing in court that borrowers were delinquent on their payments even when they were not, Schumer said in his letter.
4/23/08 A National Disaster 

Bear Stearns - JPMorgan

Rob Kirby This article is about how Bear Stearns stock was artificially collapsed so that illegal insider traders would make billions and J.P. Morgan would be paid $55 billion of U.S. tax payer money to shore themselves up - and buy Bear Stearns at bankruptcy prices.
5/9/08 Litton Picks Up Rest of Fremont’s Servicing Portfolio; Bankruptcy May be Next Paul Jackson - HousingWire ... the sale likely is the final step before it heads into bankruptcy and liquidation, according to a company statement

Credit Suisse Depicted As Fraud-Case Victim

chad.bray@dowjones.com A former principal at a Olympia Mortgage has been charged with fraud for an alleged scheme to sell to investment bank Credit Suisse nonperforming mortgage loans using falsified loan histories.
5/7/08 SCHUMER LIFTS VEIL ON PATTERN OF ABUSE BY MORTGAGE LENDERS LIKE COUNTRYWIDE Trading Markets.com Schumer Decries 'Death by A Thousand Fees'; Suggests Better Deterrence, Stiffer Penalties, and More Disclosure to End 'Vulture Mentality' of Mortgage Lenders and Servicers
5/7/08 Quarrel Erupts Between Bear Stearns' Elder Statesmen LANDON THOMAS Jr.

New York Times

Told that Mr. Cayne, with whom he worked for four decades, had lost much of his net worth and was suffering personally, Mr. Greenberg’s eyes turned cold. “Oh, really. Goodness, that’s a shame,”
5/7/08 SCHUMER LIFTS VEIL ON PATTERN OF ABUSE BY MORTGAGE LENDERS LIKE COUNTRYWIDE TradingMarkets.com Schumer Decries 'Death by A Thousand Fees'; Suggests Better Deterrence, Stiffer Penalties, and More Disclosure to End 'Vulture Mentality' of Mortgage Lenders and Servicers.
5/7/08 Bush to Block Foreclosure Relief Ann Weaver Hart -OEN Very clear, however, is the president’s intention to allow the largest lenders in the country to strip as much wealth out of the residential real estate market as they can get.
5/7/08 Countrywide denies it mistreated clients  By Michael Collins (Contact) Sen. Charles Schumer, D-N.Y., blasted Countrywide and other mortgage lenders during a congressional hearing for what he described as a "vulture mentality."  "You're always adopting good practices after you are exposed," he said.
5/7/08 Judge rejects Countrywide settlement of fabrication claim Associated Press Hill was up to date on her payments, yet Countrywide threatened to take her home if she didn't pay thousands more in fees, according to court documents.  In courts across the country, Countrywide faces allegations that it systematically abuses bankrupt homeowners and bankruptcy tribunals with fraudulent filings and inflated fees.
5/7/08 Subprime Lender Enjoined From Foreclosing On Mortgage Collateral Article by Mintz Levin Subprime Group In a decision widely characterized as both "important" and "unprecedented," on February 28, 2008, a Massachusetts Superior Court judge enjoined a subprime lender, Fremont Investment from foreclosing on many of its mortgages with Massachusetts subprime borrowers without the express prior approval of the Attorney General.
5/7/08 Wachovia's Big-Loan Executive Is Leaving LINGLING WEI and BETSY MCKAY -WSJ The bank also is being investigated by federal prosecutors for the alleged laundering of drug proceeds by Colombian and Mexican money-transfer companies.
5/6/08 Countrywide Financial admits loan officers made errors CHRISTOPHER S. RUGABER, AP Business Writer Countrywide disputed accusations, made by hundreds of borrowers in Pennsylvania, Florida and other states, that the company has sought to collect inflated fees and other payments by filing inaccurate bankruptcy documents. The Justice Department is currently investigating the accusations.
5/6/08 Doubts Raised on Fannie & Freddie's Backing of Mortgages CHARLES DUHIGG

New York Times

But with mortgage defaults and foreclosures rising, Bush administration officials, regulators and lawmakers are nervously asking whether these two companies, would-be saviors of the housing market, will soon need saving themselves.