chain of title how three ordinary americans uncovered wall streets great foreclosure fraud

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Chain Of Title

Author : David Dayen
ISBN : 9781620971598
Genre : Business & Economics
File Size : 33. 63 MB
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In the depths of the Great Recession, a cancer nurse, a car dealership worker, and an insurance fraud specialist helped uncover the largest consumer crime in American history—a scandal that implicated dozens of major executives on Wall Street. They called it foreclosure fraud: millions of families were kicked out of their homes based on false evidence by mortgage companies that had no legal right to foreclose. Lisa Epstein, Michael Redman, and Lynn Szymoniak did not work in government or law enforcement. They had no history of anticorporate activism. Instead they were all foreclosure victims, and while struggling with their shame and isolation they committed a revolutionary act: closely reading their mortgage documents, discovering the deceit behind them, and building a movement to expose it. Fiscal Times columnist David Dayen recounts how these ordinary Floridians challenged the most powerful institutions in America armed only with the truth—and for a brief moment they brought the corrupt financial industry to its knees.

Chain Of Title

Author : David Dayen
ISBN : 1620971585
Genre : Business & Economics
File Size : 40. 87 MB
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In the depths of the Great Recession, a cancer nurse, a car dealership worker, and an insurance fraud specialist helped uncover the largest consumer crime in American historya scandal that implicated dozens of major executives on Wall Street. They called it foreclosure fraud: millions of families were kicked out of their homes based on false evidence by mortgage companies that had no legal right to foreclose. Lisa Epstein, Michael Redman, and Lynn Szymoniak did not work in government or law enforcement. They had no history of anticorporate activism. Instead they were all foreclosure victims, and while struggling with their shame and isolation they committed a revolutionary act: closely reading their mortgage documents, discovering the deceit behind them, and building a movement to expose it. "Fiscal Times" columnist David Dayen recounts how these ordinary Floridians challenged the most powerful institutions in America armed only with the truthand for a brief moment they brought the corrupt financial industry to its knees. "

Bad Paper

Author : Jake Halpern
ISBN : 9780374711245
Genre : True Crime
File Size : 88. 44 MB
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The Federal Trade Commission receives more complaints about rogue debt collecting than about any activity besides identity theft. Dramatically and entertainingly, Bad Paper reveals why. It tells the story of Aaron Siegel, a former banking executive, and Brandon Wilson, a former armed robber, who become partners and go in quest of "paper"—the uncollected debts that are sold off by banks for pennies on the dollar. As Aaron and Brandon learn, the world of consumer debt collection is an unregulated shadowland where operators often make unwarranted threats and even collect debts that are not theirs. Introducing an unforgettable cast of strivers and rogues, Jake Halpern chronicles their lives as they manage high-pressure call centers, hunt for paper in Las Vegas casinos, and meet in parked cars to sell the social security numbers and account information of unsuspecting consumers. He also tracks a "package" of debt that is stolen by unscrupulous collectors, leading to a dramatic showdown with guns in a Buffalo corner store. Along the way, he reveals the human cost of a system that compounds the troubles of hardworking Americans and permits banks to ignore their former customers. The result is a vital exposé that is also a bravura feat of storytelling.

The Invisible Bridge

Author : Rick Perlstein
ISBN : 9781476782430
Genre : History
File Size : 88. 16 MB
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The New York Times bestselling dazzling portrait of America on the verge of a nervous breakdown in the tumultuous political and economic times of the 1970s. In January of 1973 Richard Nixon announced the end of the Vietnam War and prepared for a triumphant second term—until televised Watergate hearings revealed his White House as little better than a mafia den. The next president declared upon Nixon’s resignation “our long national nightmare is over”—but then congressional investigators exposed the CIA for assassinating foreign leaders. The collapse of the South Vietnamese government rendered moot the sacrifice of some 58,000 American lives. The economy was in tatters. And as Americans began thinking about their nation in a new way—as one more nation among nations, no more providential than any other—the pundits declared that from now on successful politicians would be the ones who honored this chastened new national mood. Ronald Reagan never got the message. Which was why, when he announced his intention to challenge President Ford for the 1976 Republican nomination, those same pundits dismissed him—until, amazingly, it started to look like he just might win. He was inventing the new conservative political culture we know now, in which a vision of patriotism rooted in a sense of American limits was derailed in America’s Bicentennial year by the rise of the smiling politician from Hollywood. Against a backdrop of melodramas from the Arab oil embargo to Patty Hearst to the near-bankruptcy of America’s greatest city, The Invisible Bridge asks the question: what does it mean to believe in America? To wave a flag—or to reject the glibness of the flag wavers?

The Best Way To Rob A Bank Is To Own One

Author : William K. Black
ISBN : 0292783078
Genre : Business & Economics
File Size : 34. 37 MB
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The catastrophic collapse of companies such as Enron, WorldCom, ImClone, and Tyco left angry investors, employees, reporters, and government investigators demanding to know how the CEOs deceived everyone into believing their companies were spectacularly successful when in fact they were massively insolvent. Why did the nation's top accounting firms give such companies clean audit reports? Where were the regulators and whistleblowers who should expose fraudulent CEOs before they loot their companies for hundreds of millions of dollars? In this expert insider's account of the savings and loan debacle of the 1980s, William Black lays bare the strategies that corrupt CEOs and CFOs—in collusion with those who have regulatory oversight of their industries—use to defraud companies for their personal gain. Recounting the investigations he conducted as Director of Litigation for the Federal Home Loan Bank Board, Black fully reveals how Charles Keating and hundreds of other S&L owners took advantage of a weak regulatory environment to perpetrate accounting fraud on a massive scale. He also authoritatively links the S&L crash to the business failures of the early 2000s, showing how CEOs then and now are using the same tactics to defeat regulatory restraints and commit the same types of destructive fraud. Black uses the latest advances in criminology and economics to develop a theory of why "control fraud"—looting a company for personal profit—tends to occur in waves that make financial markets deeply inefficient. He also explains how to prevent such waves. Throughout the book, Black drives home the larger point that control fraud is a major, ongoing threat in business that requires active, independent regulators to contain it. His book is a wake-up call for everyone who believes that market forces alone will keep companies and their owners honest.

Nixonland

Author : Rick Perlstein
ISBN : 1451606265
Genre : History
File Size : 85. 31 MB
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An exciting e-format containing 27 video clips taken directly from the CBS news archive of a brilliant, best-selling account of the Nixon era by one of America’s most talented young historians. Between 1965 and 1972 America experienced a second civil war. Out of its ashes, the political world we know today was born. Nixonland begins in the blood and fire of the Watts riots-one week after President Johnson signed the Voting Rights Act, and nine months after his historic landslide victory over Barry Goldwater seemed to have heralded a permanent liberal consensus. The next year scores of liberals were thrown out of Congress, America was more divided than ever-and a disgraced politician was on his way to a shocking comeback: Richard Nixon. Six years later, President Nixon, harvesting the bitterness and resentment borne of that blood and fire, was reelected in a landslide even bigger than Johnson's, and the outlines of today's politics of red-and-blue division became already distinct. Cataclysms tell the story of Nixonland: • Angry blacks burning down their neighborhoods, while suburbanites defend home and hearth with shotguns. • The civil war over Vietnam, the assassinations, the riot at the Democratic National Convention. • Richard Nixon acceding to the presidency pledging a new dawn of national unity--and governing more divisively than any before him. • The rise of twin cultures of left- and right-wing vigilantes, Americans literally bombing and cutting each other down in the streets over political differences. •And, finally, Watergate, the fruit of a president who rose by matching his own anxieties and dreads with those of an increasingly frightened electorate--but whose anxieties and dreads produced a criminal conspiracy in the Oval Office.

Listen Liberal

Author : Thomas Frank
ISBN : 9781627795401
Genre : Political Science
File Size : 72. 48 MB
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From the bestselling author of What's the Matter With Kansas, a scathing look at the standard-bearers of liberal politics -- a book that asks: what's the matter with Democrats? It is a widespread belief among liberals that if only Democrats can continue to dominate national elections, if only those awful Republicans are beaten into submission, the country will be on the right course. But this is to fundamentally misunderstand the modern Democratic Party. Drawing on years of research and first-hand reporting, Frank points out that the Democrats have done little to advance traditional liberal goals: expanding opportunity, fighting for social justice, and ensuring that workers get a fair deal. Indeed, they have scarcely dented the free-market consensus at all. This is not for lack of opportunity: Democrats have occupied the White House for sixteen of the last twenty-four years, and yet the decline of the middle class has only accelerated. Wall Street gets its bailouts, wages keep falling, and the free-trade deals keep coming. With his trademark sardonic wit and lacerating logic, Frank's Listen, Liberal lays bare the essence of the Democratic Party's philosophy and how it has changed over the years. A form of corporate and cultural elitism has largely eclipsed the party's old working-class commitment, he finds. For certain favored groups, this has meant prosperity. But for the nation as a whole, it is a one-way ticket into the abyss of inequality. In this critical election year, Frank recalls the Democrats to their historic goals-the only way to reverse the ever-deepening rift between the rich and the poor in America.

Jpmadoff

Author : Helen Davis Chaitman
ISBN : 1522886206
Genre : Financial crises
File Size : 25. 8 MB
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"Bernie Madoff committed the biggest financial crime in history, stealing $64.8 billion from tens of thousands of innocent people. But to carry out criminal activity on this scale, he needed a major bank to service his needs and conceal his criminal activities. The corrupt bankers at JPMorgan Chase decided to enrich themselves at the expense of innocent customers. They looked the other way for years, while having free use of Madoff's multi-billion dollar deposit balances"--Back cover.

Wall Street And The Financial Crisis

Author : Senate Subcommittee on Investigations
ISBN : 9781616405458
Genre : Business & Economics
File Size : 35. 89 MB
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After a two-year investigation by the Senate Permanent Subcommittee on Investigation, their report, Wall Street and the Financial Crisis: Anatomy of a Financial Collapse was released in April 2011. This is the most damning official report to date on Wall Street's role in the financial crisis. It describes the wheeling and dealing of bankers and others who benefited from the housing bubble while impoverishing the rest of America. It also offers four very clear causes of the financial crisis and, last but not least, it names culprits: - High risk mortgage loans by commercial banks were "the fuel that ignited the financial crisis" (describing the case study of Washington Mutual Bank, the sixth largest commercial bank at the time of its failure in September, 2008 ) - Failures by regulators "set the stage for mortgage loan losses that were a proximate cause of the financial crisis" (describing the case study of the Office of the Thrift Supervision, which was closed in 2010 and whose operations folded into the Office of the Comptroller of the Currency); - Inaccurate AAA credit ratings by the two largest credit rating agencies "constituted a key cause of the financial crisis" (describing Moody's and Standard & Poor's conflicts of interest while both had a quasi-monopoly position in the market for credit ratings); - Investment bank abuses: "The Investment banks that engineered, sold, traded, and profited from mortgage-related structured finance products were a major cause of the financial crisis" (describing case studies of Goldman Sachs and Deutsche Bank). This report and its detailed case studies are a must-read for policymakers, politicians, justice officials, bankers, journalists, academics and concerned citizens in order to understand what brought the economy to the brink of destruction. The U.S. SENATE PERMANENT SUBCOMMITTEE ON INVESTIGATIONS (PSI) is a bi-partisan team of senators that deals with Homeland Security and Governmental Affairs, and is currently headed by Senator Carl Levin (D-MI) and Senator Tom Coburn (R-OK). Formerly known as the Committee on Government Operations, PSI is the oldest subcommittee of the Senate Homeland Security Committee.

Bailout

Author : Neil Barofsky
ISBN : 9781451684940
Genre : Political Science
File Size : 39. 96 MB
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In this riveting account of the mishandling of the TARP bailout fund, a former federal prosecutor offers behind-the-scenes proof of the corrupt ways Washington officials serve the interests of Wall Street. In this bracing, page-turning account of his stranger-than-fiction baptism into the corrupted ways of Washington, Neil Barofsky offers an irrefutable insider indictment of the mishandling of the $700 billion TARP bailout fund. During the height of the financial crisis in 2008, Barofsky gave up his job in the esteemed US Attorney’s Office in New York City to become the special inspector general overseeing the spending of the bailout money. But from day one his efforts to protect against fraud and to hold the big banks accountable were met with outright hostility from Treasury officials. Bailout is a riveting account of Barofsky’s plunge into the political meat grinder of Washington, and a vital revelation of just how captured by Wall Street our political system is and why the banks have only become bigger and more dangerous in the wake of the crisis.

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