05 May 2012

Bank of America’s Protection Detail

To protect Bank of America from inconvenience, Charlotte, North Carolina has directed its police officers to harass and arrest protesters. Unconstitutionally, in my opinion. Charlotte Sides With Bank of America Over People Charlotte has imposed special rules on a 2 block by 2 block square for 12 hours on Wednesday

29 Apr 2012

Bankers Are Still Wrecking Housing Market Fundamentals

Regardless of the recent bullish stories on the housing market (examples here, here, here and here), housing market fundamentals are lousy. Demand in the last decade was wildly distorted by banker abandonment of underwriting and appraisals. Now bankers are worsening the crash they created. As a result, prices will just

27 Apr 2012

Assessing Schneiderman’s Task Force Gamble

As people increasingly realize that the mortgage settlement was an enforcement fraud, attention’s turned to the “new” joint Federal/State task force that’s supposed to make the settlement into a “down payment,” by delivering much more. And so far people don’t like what they see, and are saying so. What’s striking

23 Apr 2012

Setting the Record Straight: The Housing Bubble Lie

Let’s get something straight: we did not have a housing “bubble”, in the usual sense of the word. The mainstream narrative of crazed, greedy, irresponsible homeowner-wannabes driving prices unsustainably high, causing the still ongoing crash is wrong. Yes, we had a housing “bubble” in one sense; prices soared way beyond reality

20 Apr 2012

The Bankers’ Subversion of the Rule of Law, Notary and Land Records edition

One way to see the double standard at the heart of the foreclosure fraud—one set of laws for the bailed out banks, one for the rest of us—is to focus on the role of notaries public, and then consider that role in light of what our Supreme Court said about