Showing posts from October 17, 2010

Government Autopsy Findings

Just gaze at these charts. I'm trying not to bleed on the keyboard. No problem. Nothing to see here. Move along now.

Mortgage Fraud and the Great American Cover-Up

I first stumbled onto a William K Black interview a few years ago when I was trying to sort out just how the greatest theft in the history of man had taken place in front of my eyes. Retired cops do that sort of thing. This video is 98 minutes long. If this whole mortgage banking fraud has you mystified- or if you are wondering why American politicians are allowing banks to cover up their losses, then this will be the best video you will ever watch. Black cuts thru rhetoric and bs to tell you what happened. It's the best 90 min education you can get. You will be far better informed but like me, people will think you are nuts. Grow thick skin. Some facts. There were only 2298 views of this video when I swiped it. That is pathetic. Black was one of the regulators who cleaned up the Savings and Loan mess in the 80's. He helped lock up over 1000 fraudulent bankers. His credentials and reputation are as close to as impeccable as you can get. The Keating Five were 5 Senators who trie

Is the United States Still a Nation of Law?

As a young cop many years ago, my indoctrination into the legal system and my role within that system was clearly stated by my instructors. We enforce the law to the "spirit" and not to the letter. Just what does that mean? My best explanation is that police officers are or should be looking for compliance rather than discipline. That in fact- if we could get a motorist to slow down or renew his license upon agreement, then perhaps it was not necessary to issue a ticket. I learned this lesson early on. It came to me as the result of a man who rushed his pregnant wife from a camping trip to the local hospital. He was speeding and he had been drinking when I stopped him in the hospital parking lot. His wife was clearly in labor. He explained that he had no other alternative but to drive her to the hospital. This incident occurred well before the appearance of cell phones. The driver agreed not to drive again and in fact, the delivery took an eternity. That's how we resolved

Why Both Parties Suck or How I Became a Libertarian

I was almost three years old when JFK met eternity in Dealey Plaza. I was too young to know him then. I would study his brief Presidency later on in my life. Kennedy, despite the failings of his personal life, may have been the last American hero. I mean that. They say a part of America died that day in Dallas. I'm not sure that America didn't die that day along with him. That was 1963. And so I've watched this 5 decade parade of scandals, Chappaquiddick, Watergate, Iran-Contra, Monica. I've watched crooked politicians with rap sheets. Drunken- ness and sex scandals. I've seen all of the crooked activities of our public servants. I've seen a few good things like Reagan, who probably stands out as the best human being of the Presidents. He was a straight shooter. So was Nancy. I have a friend, a cop, that provided the police detail for Reagan in California when he was Governor. He says Reagan was a great guy and well thought of. Scandals come and go. The frailty

More Mozilo Magic

Well after the Feds took 67.5 million in lieu of prison time for Mr Mozilo, Bank of America reported a 10 billion dollar write down today. They attributed the loss to revenue that the financial reform bill clipped from them. This is credit card revenue they receive from retailers. Being the dumb shit that I am, I am still trying to figure out how you can charge off money that you haven't earned yet. It's not like the reform package is retroactive. Now, the latest news from Bank of America; Pacific Investment Management Co., BlackRock Inc. and the Federal Reserve Bank of New York are seeking to force Bank of America Corp. to repurchase soured mortgages packaged into $47 billion of bonds by its Countrywide Financial Corp. unit, people familiar with the matter said. The bondholders wrote a letter to Bank of America and Bank of New York Mellon Corp., the debt’s trustee, citing alleged failures by Countrywide to service the loans properly, their lawyer said yesterday in a stateme