Taibbi On Wall Street Whining
"In fact, when one considers the lost billions and trillions from the end of the mortgage bubble scam and the expiration of the quantitative easing program, it’s pretty incredible (one might even call it an inspirational testament to the industry's dedication to the cause of high compensation) that bonuses are even in the same ballpark as they used to be."
"But if Sherman’s piece heralds a new era of Wall Street complaining about how it is not only misunderstood but undercompensated, you’ll have to excuse me while I spend the next month or so vomiting into my shoes."
"The financial services industry went from having a 19 percent share of America’s corporate profits decades ago to having a 41 percent share in recent years. That doesn’t mean bankers ever represented anywhere near 41 percent of America’s labor value. It just means they’ve managed to make themselves horrifically overpaid relative to their counterparts in the rest of the economy.
Taibbi's Apology And Analysis Of Why The Alleged Unsigned Mortgage Fraud Bailout Is Not In The Public Interest
"My mistake in looking at this deal a few weeks ago, when details of it first leaked out, was in focusing on how much worse it could have been, instead of thinking about how bad it still is. The only acceptable foreclosure deal had to bring about a complete end to robosigning and the other similar corrupt practices that grew up around it (like for instance gutter service, the practice of process servers simply signing affidavits saying they delivered summonses, instead of really doing it). But this deal not only doesn't end robosigning, it officially makes getting caught for it inexpensive. Shame on me for ever thinking that might be a good thing."
Yves Smith's Top 12 Reasons Alleged Unsigned Mortgage Fraud Bailout Is Not In The Public Interest
"We've now set a price for forgeries and fabricating documents. It's $2000 per loan."
"If you think Schneiderman (NY AG Eric, co-chair of a new understaffed federal Residential Mortgage Based Securities task force), as a co-chairman who already has a full-time day job in New York, is going to outfox a bunch of D.C. insiders who are part of the problem, you are smoking something very strong."
As has been said before, "this settlement is yet another raw demonstration of who wields power in America, and it isn't you and me. . . . . . . It adds insult to injury to see some try to depict it as a win for long suffering, still abused homeowners."
- Eric, Check Your Inbox, Kabuki or Not Kabuki, Kabuki or Not Kabuki - Part 2
- Does The FAA Clear Iraqi Drones To Fly Over Chicago?
- A Clarification from Mitt Romney (but seriously: Krugman On Romney's Actually Caring Only For The Rich )
- Scott Walker To Make A Social Call
- Republican Secretary Of State Convicted Of Voter Fraud
In a spirit of bipartisanship, "when conservatives or others go on and on about the need to crack down on rampant voter fraud, you should reply, 'Yes, you’re right, those criminal Republican Secretaries of State need to be stopped.' " - A Planned Result Of Justice Powell's Memo's: SuperPACs
Corporate Attorney Lewis Powell To ALEC To Minnesota
"The report finds that executives from Minnesota’s three largest banks—Wells Fargo, U.S. Bankand TCF—led and funded a series of inter-related campaign entities that were instrumental in theRepublican takeover of the Legislature that put members of ALEC (American Legislative Exchange Council) in the House leadership and placed an attack on the voting rights of Minnesotans at the top of the 2012 legislative agenda." - Bad foreclosure fraud case settlement: here and here. People should be held responsible. Settlement is a mirage
- Total Cost Of Unconstitutional Illegal Combat Exceeds $1.3T ($800B In Iraq And $500B in Afghanistan)
- Krugman on Money And Morals
- Whither Romney?
- How The Alleged Unsigned Mortgage Fraud Bailout Could Result In Federal Payments To The Banks Who Committed Massive Fraud On The Courts And The Public
- A Miscarriage Of Justice And A Blow To Human Rights
Judge Garzon is the judge whose actions led to house arrest of Chilean ex-President (and General) Augusto Pinochet in the United Kingdom for over a year and almost brought Pinochet to justice for thousands of murders in Chile including the murder of his freely and democratically elected predecessor.