Daily Archives: June 17, 2016

BERNIE SANDERS: Almost 7,000 of my supporters just signed up to run for office

Interesting…

Bernie Sanders has inspired thousands of supporters to express interest in running for political office.

After the Vermont senator made an impassioned plea to his supporters during a Thursday-night webcast to carry the “political revolution” forward, his campaign released a statement claiming that nearly 6,700 of his people said that they’d be interested in seeking elected office.

The supporters went to a portal on Sanders’ campaign website, BernieSanders.com/win, and signed up to receive more information about running at the local or state level.

The campaign said that roughly 11,000 expressed interest in either running or volunteering to help other Sanders supporters run.

Read on.

California surpasses France as world’s 6th largest economy

CNBC:

California is now the sixth largest economy in the world, surpassing France thanks to a robust state economy and the strength of the U.S. dollar.

California was the world’s eighth-largest economy as of last year, according to Irena Asmundson, chief economist of the California Department of Finance.

“California did exceptionally well in 2015,” said Asmundson. “Lots of sectors did well.”

California is home to diverse strong economies, including Silicon Valley and Hollywood. Manufacturing has performed well, as has the agriculture sector, despite a severe drought, said Asmundson.

The nation’s most populous state has outpaced the rest of the U.S. on job growth. Its gross state product was $2.46 trillion, with 4.1 percent of state growth this year in real terms, according to the state’s finance department.

 

Mortgage Companies Seek Time Travelers to Find Missing Documents

RECRUITERS ARE HIRING for a job that shouldn’t exist: finding “missing” documents required to “complete” broken chains of title on mortgages entering foreclosure.

Since all assignments of mortgage should have been prepared and recorded within days of the transfer or sale — and the failure to do so irreparably ruptures chain of title — the companies would seem to be looking for time travelers or magicians.

Or maybe they want to manufacture false evidence to introduce into courts as a means to take away people’s homes.

Without a chain of title documenting the sequence of historical transfers of title to a property, foreclosure proceedings cannot continue in a legal fashion. 

Alluvion Staffing, a recruiting firm from Jacksonville, Florida, posted a listing on Career Builder for a “Default Breach Specialist” for an unnamed mortgage company, who would be tasked with locating “missing assignments needed to complete the chain of title prior to foreclosure referral.” The ad follows aseparate search from Select Portfolio Servicing, a Utah-based mortgage servicer, for someone to “provide assistance in demonstrating the Investor has the appropriate legal authority to initiate actions through a complete Chain of Title.”

As I detailed in my book Chain of Title, the various companies packaging loans during the housing bubble routinely failed to follow the precise steps to transfer mortgages into the tax-preferred trusts used to create mortgage-backed securities.

Read on.

Guccifer 2.0 leaked two-page list titled “HRC election plans, includes a talking point that later appeared word for word in Clinton’s video Presidential announcement

 

Zerohedge:

Guccifer 2.0 also leaked a two-page list titled “HRC election plans,” which, as US Uncut noted, includes a talking point that later appeared word for word in Clinton’s video announcement of her bid to run for president:

“Americans have fought their way back from tough economic times but the deck is still stacked for those at the top.”

And this is why Debbie Wasserman-Schultz was quickly stripped operational duties as DNC head and replaced with a temporary DNC head as the organizationlooks for a replacement.  This has appeared unnoticed in the media and reporters  as they have focused on the hacked DNC documents’ of DNC’s strategy to oppose Trump. 

Breaking news: Countrywide’s Mozilo reportedly off the hook for all those subprime mortgages

Oh, wow! Crime does pay! A big slap in the face to Countrywide whistleblower, Michael Winston. Unbelievable!!!

One of most notorious people at the center of the housing crisis is reportedly off the hook for any supposed malfeasance, as Bloomberg is reporting that the Department of Justice is abandoning its attempt to sue Angelo Mozilo, the founder ofCountrywide, for his company’s lending practices in the run-up to the housing crisis.

Countrywide originated more mortgages in this country from 2004 to 2007 than any other lender. During that time, Countrywide closed so many subprime mortgages it remained a top-5 producer for that home loan product. The same goes for other loans, such as Alt-A.

The DOJ first began seeking a civil suit against Mozilo two years ago, after the statute of limitations expired for any criminal charges that could have been filed against Countrywide’s founder.

Mozilo long held that Countrywide “didn’t do anything wrong” when it came to the lender’s underwriting and origination practices.

In 2014, Mozilo told Bloomberg that he felt his company was not to blame for the subprime mortgage crisis.

“You’ll have to ask those people, ‘What do you have against Mozilo, what did he do?’” Mozilo said in 2014.

“Countrywide didn’t change. I didn’t change. The world changed,” he continued. “No, no, no, we didn’t do anything wrong,” he said, adding that a real estate collapse was the root of the crisis. “Countrywide or Mozilo didn’t cause any of that.”

And now, it appears that the DOJ is unable or unwilling to proceed with its case against Mozilo.

From Bloomberg:

U.S. prosecutors have abandoned their case against Angelo Mozilo, a pioneer of the risky subprime mortgages that fueled the financial crisis, after a two-year quest to bring a civil suit against him.

The Justice Department has decided not to sue Mozilo, the co-founder of Countrywide Financial Corp., according to people familiar with the matter. That effectively ends nearly a decade of U.S. scrutiny of a man who became a face of risky lending practices and later an emblem of the government’s mixed success in holding individuals accountable.

Read on.

Ocwen ex-CEO facing US investment fraud suit is Malta’s newest citizen

One of the multi-millionaires lining up for a Maltese passport has run into trouble back in the United States, having to face a securities fraud lawsuit.

William Charles Erbey was a billionaire worth $2.5 billion and a regular in Forbes’ list of the global rich, but his worth was drastically reduced to ‘just’ over $400 million when his mortgage giant Ocwen Financial was found responsible for serious conflicts in the way it carried out its business.

But far from the ‘talent’ that Prime Minister Joseph Muscat shills for in his international roadshows with Henley & Partners flogging off Malta’s golden €650,000 passport, William Erbey is accused by critics of having built an empire on mortgage misery, and who saves tax by sheltering his companies in the Virgin Islands, Luxembourg and the Caymans.

Read on.

JP Morgan and Bank of America in cluster bomb investors ‘Hall of Shame’

  • Report finds 158 financial institutions in 14 countries invested $28bn
  • Munitions which kill thousands of civilians are banned under 2008 convention

More than 150 financial institutions including JPMorgan Chase and Bank of America invested $28bn in companies that produce cluster bombs despite an international ban, according to a new report by the Netherlands-based peace organization PAX.

The report includes a “Hall of Shame”, a list of 158 banks, pension funds and other financial institutions that have invested in cluster munitions producers since June 2012, according to the 2016 report, titled Worldwide Investments in Cluster Munitions: A Shared Responsibility. The leading financial investors come from 14 countries including the United States, Canada and the UK, and include the investment firms China Everbright Group and T Rowe Price.

Cluster bombs are banned under international law by the Convention on Cluster Munitions, a 2008 Oslo treaty which was signed by more than 100 countries. The convention was the result of a years-long campaign against the weapons, which kill indiscriminately.

A majority of the institutions on the list are from countries that have not signed the convention, including the United States, China and South Korea.

Read on.