Monday, December 6, 2010

foreclosure investing


Yves does a thorough smackdown on the departing Michael Barr’s description of all the things the government is going to get to the bottom of the foreclosure fraud problem, noting that the foreclosure task force simply isn’t investigating the problem in enough detail to understand, much less solve, the problem.


But I wanted to look just at Barr’s language, both in his interview with Felix Salmon and in his presentation to the Financial Stability Oversight Council yesterday. Here are the five things he described as the key focus of the Foreclosure Working Group:



  1. Determining the scope of problems

  2. Holding the banks accountable for fixing these problems

  3. Making sure individuals who have been harmed are given redress and that firms pay penalties where appropriate for their actions

  4. Getting the mortgage servicing industry to do a better job for households in financial difficulty by providing alternatives to foreclosure

  5. Acting in a coordinated and comprehensive way to hold the firms accountable, bring clarity and certainty, and help households


Note, already, the choice of language here. The working group will “hold the banks accountable … for fixing these problems.” The firms will “pay penalties where appropriate for their actions.”


Barr uses the language the federal government has been consistently using since the scope of this problem became widely clear, in which the government envisions “holding banks accountable” by forcing them to operate effectively going forward, while making right the crimes of the past. Nowhere, in his presentation to the FSOC at least, does Barr envision holding the people who committed fraud accountable. In fact, there’s a lovely detail at 7:54 where Barr describes that the process is designed to assess whether affidavits and claims “are accurate.” Now, the government learned sometime since May–six months ago now–that they are not. But they have not yet prosecuted anyone for fraud. Which leads me to believe that when Barr says “assess whether affidavits are accurate,” he means, “assess whether they accurately reflect the state of the loan,” and not whether “the claims made by robo-signers are in fact true.”


And besides, how in hell could the government give those who have been harmed redress if the government is only reviewing a select subset of the loan files? Is the government going to provide everyone who believes they were screwed some legal aid to prove their claim?


Now compare what the soon-to-be-gone Barr told the FSOC in its kabuki public session with what he told Salmon.



Yves does a thorough smackdown on the departing Michael Barr’s description of all the things the government is going to get to the bottom of the foreclosure fraud problem, noting that the foreclosure task force simply isn’t investigating the problem in enough detail to understand, much less solve, the problem.


But I wanted to look just at Barr’s language, both in his interview with Felix Salmon and in his presentation to the Financial Stability Oversight Council yesterday. Here are the five things he described as the key focus of the Foreclosure Working Group:



  1. Determining the scope of problems

  2. Holding the banks accountable for fixing these problems

  3. Making sure individuals who have been harmed are given redress and that firms pay penalties where appropriate for their actions

  4. Getting the mortgage servicing industry to do a better job for households in financial difficulty by providing alternatives to foreclosure

  5. Acting in a coordinated and comprehensive way to hold the firms accountable, bring clarity and certainty, and help households


Note, already, the choice of language here. The working group will “hold the banks accountable … for fixing these problems.” The firms will “pay penalties where appropriate for their actions.”


Barr uses the language the federal government has been consistently using since the scope of this problem became widely clear, in which the government envisions “holding banks accountable” by forcing them to operate effectively going forward, while making right the crimes of the past. Nowhere, in his presentation to the FSOC at least, does Barr envision holding the people who committed fraud accountable. In fact, there’s a lovely detail at 7:54 where Barr describes that the process is designed to assess whether affidavits and claims “are accurate.” Now, the government learned sometime since May–six months ago now–that they are not. But they have not yet prosecuted anyone for fraud. Which leads me to believe that when Barr says “assess whether affidavits are accurate,” he means, “assess whether they accurately reflect the state of the loan,” and not whether “the claims made by robo-signers are in fact true.”


And besides, how in hell could the government give those who have been harmed redress if the government is only reviewing a select subset of the loan files? Is the government going to provide everyone who believes they were screwed some legal aid to prove their claim?


Now compare what the soon-to-be-gone Barr told the FSOC in its kabuki public session with what he told Salmon.



bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


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La luz se puede generar el Levante - Ciencia <b> Noticias </ b> Los investigadores crear un lightfoil que introduzca objetos pequeños hacia los lados.

<b> Película Noticias </ b> Quick Hits: &#39; &#39; s Emma Stone Spider-Man Mira &#39;, Annie Asiente <b> ...</ b> Publicado el 06 de diciembre 2010 15:05. Filed under: Trailers y clips, películas Noticias, Festival de Cine Sundance, Cinematical. Este correo electrónico. - Emma Stone estrenó su look de Spider-Man por primera vez a Trevor vivo en Hollywood el fin de semana. ...

Hulu sus planes de <b> propio entretenimiento de noticias </ b> muestran, pero a nadie ver lo que Peter Kafka en informes MediaMemo, Hulu es actualmente el casting para un presentador de la serie que se publica todos los días, teniendo un "diario? enfoque satírico Show' al estilo de las últimas noticias de entretenimiento. Hulu (respaldado por EE.UU. gigantes de televisión NBC ...


bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Yves does a thorough smackdown on the departing Michael Barr’s description of all the things the government is going to get to the bottom of the foreclosure fraud problem, noting that the foreclosure task force simply isn’t investigating the problem in enough detail to understand, much less solve, the problem.


But I wanted to look just at Barr’s language, both in his interview with Felix Salmon and in his presentation to the Financial Stability Oversight Council yesterday. Here are the five things he described as the key focus of the Foreclosure Working Group:



  1. Determining the scope of problems

  2. Holding the banks accountable for fixing these problems

  3. Making sure individuals who have been harmed are given redress and that firms pay penalties where appropriate for their actions

  4. Getting the mortgage servicing industry to do a better job for households in financial difficulty by providing alternatives to foreclosure

  5. Acting in a coordinated and comprehensive way to hold the firms accountable, bring clarity and certainty, and help households


Note, already, the choice of language here. The working group will “hold the banks accountable … for fixing these problems.” The firms will “pay penalties where appropriate for their actions.”


Barr uses the language the federal government has been consistently using since the scope of this problem became widely clear, in which the government envisions “holding banks accountable” by forcing them to operate effectively going forward, while making right the crimes of the past. Nowhere, in his presentation to the FSOC at least, does Barr envision holding the people who committed fraud accountable. In fact, there’s a lovely detail at 7:54 where Barr describes that the process is designed to assess whether affidavits and claims “are accurate.” Now, the government learned sometime since May–six months ago now–that they are not. But they have not yet prosecuted anyone for fraud. Which leads me to believe that when Barr says “assess whether affidavits are accurate,” he means, “assess whether they accurately reflect the state of the loan,” and not whether “the claims made by robo-signers are in fact true.”


And besides, how in hell could the government give those who have been harmed redress if the government is only reviewing a select subset of the loan files? Is the government going to provide everyone who believes they were screwed some legal aid to prove their claim?


Now compare what the soon-to-be-gone Barr told the FSOC in its kabuki public session with what he told Salmon.



Yves does a thorough smackdown on the departing Michael Barr’s description of all the things the government is going to get to the bottom of the foreclosure fraud problem, noting that the foreclosure task force simply isn’t investigating the problem in enough detail to understand, much less solve, the problem.


But I wanted to look just at Barr’s language, both in his interview with Felix Salmon and in his presentation to the Financial Stability Oversight Council yesterday. Here are the five things he described as the key focus of the Foreclosure Working Group:



  1. Determining the scope of problems

  2. Holding the banks accountable for fixing these problems

  3. Making sure individuals who have been harmed are given redress and that firms pay penalties where appropriate for their actions

  4. Getting the mortgage servicing industry to do a better job for households in financial difficulty by providing alternatives to foreclosure

  5. Acting in a coordinated and comprehensive way to hold the firms accountable, bring clarity and certainty, and help households


Note, already, the choice of language here. The working group will “hold the banks accountable … for fixing these problems.” The firms will “pay penalties where appropriate for their actions.”


Barr uses the language the federal government has been consistently using since the scope of this problem became widely clear, in which the government envisions “holding banks accountable” by forcing them to operate effectively going forward, while making right the crimes of the past. Nowhere, in his presentation to the FSOC at least, does Barr envision holding the people who committed fraud accountable. In fact, there’s a lovely detail at 7:54 where Barr describes that the process is designed to assess whether affidavits and claims “are accurate.” Now, the government learned sometime since May–six months ago now–that they are not. But they have not yet prosecuted anyone for fraud. Which leads me to believe that when Barr says “assess whether affidavits are accurate,” he means, “assess whether they accurately reflect the state of the loan,” and not whether “the claims made by robo-signers are in fact true.”


And besides, how in hell could the government give those who have been harmed redress if the government is only reviewing a select subset of the loan files? Is the government going to provide everyone who believes they were screwed some legal aid to prove their claim?


Now compare what the soon-to-be-gone Barr told the FSOC in its kabuki public session with what he told Salmon.



bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Yves does a thorough smackdown on the departing Michael Barr’s description of all the things the government is going to get to the bottom of the foreclosure fraud problem, noting that the foreclosure task force simply isn’t investigating the problem in enough detail to understand, much less solve, the problem.


But I wanted to look just at Barr’s language, both in his interview with Felix Salmon and in his presentation to the Financial Stability Oversight Council yesterday. Here are the five things he described as the key focus of the Foreclosure Working Group:



  1. Determining the scope of problems

  2. Holding the banks accountable for fixing these problems

  3. Making sure individuals who have been harmed are given redress and that firms pay penalties where appropriate for their actions

  4. Getting the mortgage servicing industry to do a better job for households in financial difficulty by providing alternatives to foreclosure

  5. Acting in a coordinated and comprehensive way to hold the firms accountable, bring clarity and certainty, and help households


Note, already, the choice of language here. The working group will “hold the banks accountable … for fixing these problems.” The firms will “pay penalties where appropriate for their actions.”


Barr uses the language the federal government has been consistently using since the scope of this problem became widely clear, in which the government envisions “holding banks accountable” by forcing them to operate effectively going forward, while making right the crimes of the past. Nowhere, in his presentation to the FSOC at least, does Barr envision holding the people who committed fraud accountable. In fact, there’s a lovely detail at 7:54 where Barr describes that the process is designed to assess whether affidavits and claims “are accurate.” Now, the government learned sometime since May–six months ago now–that they are not. But they have not yet prosecuted anyone for fraud. Which leads me to believe that when Barr says “assess whether affidavits are accurate,” he means, “assess whether they accurately reflect the state of the loan,” and not whether “the claims made by robo-signers are in fact true.”


And besides, how in hell could the government give those who have been harmed redress if the government is only reviewing a select subset of the loan files? Is the government going to provide everyone who believes they were screwed some legal aid to prove their claim?


Now compare what the soon-to-be-gone Barr told the FSOC in its kabuki public session with what he told Salmon.



Yves does a thorough smackdown on the departing Michael Barr’s description of all the things the government is going to get to the bottom of the foreclosure fraud problem, noting that the foreclosure task force simply isn’t investigating the problem in enough detail to understand, much less solve, the problem.


But I wanted to look just at Barr’s language, both in his interview with Felix Salmon and in his presentation to the Financial Stability Oversight Council yesterday. Here are the five things he described as the key focus of the Foreclosure Working Group:



  1. Determining the scope of problems

  2. Holding the banks accountable for fixing these problems

  3. Making sure individuals who have been harmed are given redress and that firms pay penalties where appropriate for their actions

  4. Getting the mortgage servicing industry to do a better job for households in financial difficulty by providing alternatives to foreclosure

  5. Acting in a coordinated and comprehensive way to hold the firms accountable, bring clarity and certainty, and help households


Note, already, the choice of language here. The working group will “hold the banks accountable … for fixing these problems.” The firms will “pay penalties where appropriate for their actions.”


Barr uses the language the federal government has been consistently using since the scope of this problem became widely clear, in which the government envisions “holding banks accountable” by forcing them to operate effectively going forward, while making right the crimes of the past. Nowhere, in his presentation to the FSOC at least, does Barr envision holding the people who committed fraud accountable. In fact, there’s a lovely detail at 7:54 where Barr describes that the process is designed to assess whether affidavits and claims “are accurate.” Now, the government learned sometime since May–six months ago now–that they are not. But they have not yet prosecuted anyone for fraud. Which leads me to believe that when Barr says “assess whether affidavits are accurate,” he means, “assess whether they accurately reflect the state of the loan,” and not whether “the claims made by robo-signers are in fact true.”


And besides, how in hell could the government give those who have been harmed redress if the government is only reviewing a select subset of the loan files? Is the government going to provide everyone who believes they were screwed some legal aid to prove their claim?


Now compare what the soon-to-be-gone Barr told the FSOC in its kabuki public session with what he told Salmon.



bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...


bench craft company rip off

Light Can Generate Lift - Science <b>News</b>

Researchers create a lightfoil that can push small objects sideways.

Movie <b>News</b> Quick Hits: Emma Stone&#39;s &#39;Spider-Man&#39; Look, Annie Nods <b>...</b>

Posted Dec 6th 2010 3:05PM. Filed under: Trailers and Clips, Movie News, Sundance Film Festival, Cinematical. Email This. -- Emma Stone debuted her Spider-Man look for the first time at Trevor Live in Hollywood over the weekend. ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...



















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