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 : 65. 83 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 : 29. 72 MB
Format : PDF, Kindle
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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. "

The Seven Sins Of Wall Street

Author : Bob Ivry
ISBN : 9781610393652
Genre : Business & Economics
File Size : 62. 78 MB
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We all know that the financial crisis of 2008 came dangerously close to pushing the United States and the world into a depression rivaling that of the 1930s. But what is astonishing—and should make us not just afraid but very afraid—are the shenanigans of the biggest banks since the crisis. Bob Ivry passionately, eloquently, and convincingly details the operatic ineptitude of America's best-compensated executives and the ways the government kowtows to what it mistakenly imagines is their competence and success. Ivry shows that the only thing that has changed since the meltdown is how too-big-to-fail banks and their fellow travelers in Washington have nudged us ever closer to an even bigger economic calamity. Informed by deep reporting from New York, Washington, and the heartland, The Seven Sins of Wall Street, like no other book, shows how we’re all affected by the financial industry’s inhumanity. The transgressions of “Wall Street titans” and “masters of the universe” are paid for by real people. In fierce, plain English, Ivry indicts a financial industry that continues to work for the few at the expense of the rest of us. Problems that financiers deemed too complicated to be understood by ordinary folks are shown by Ivry to be financial legerdemain—a smokescreen of complexity and jargon that hide the bankers’ nefarious activities. The Seven Sins of Wall Street is irreverent and timely, an infuriating black comedy. The Great Depression of the 1930s moved the American political system to real reform that kept the finance industry in check. With millions so deeply affected since the crisis of 2008, you’ll finish this book asking yourself how it is that so many of the nation’s leading financial institutions remain such exasperating problem children.

The Case For The Corporate Death Penalty

Author : Mary Kreiner Ramirez
ISBN : 9781479873166
Genre : Law
File Size : 83. 40 MB
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An unprecedented breakdown in the rule of law occurred in the United States after the 2008 financial collapse. Bank of America, JPMorgan, Citigroup, Goldman Sachs, and other large banks settled securities fraud claims with the Securities and Exchange Commission for failing to disclose the risks of subprime mortgages they sold to the investing public. But a corporation cannot commit fraud except through human beings working at and managing the firm. Rather than breaking up these powerful megabanks, essentially imposing a corporate death penalty, the government simply accepted fines that essentially punished innocent shareholders instead of senior leaders at the megabanks. It allowed the real wrongdoers to walk away from criminal responsibility. In The Case for the Corporate Death Penalty, Mary Kreiner Ramirez and Steven A. Ramirez examine the best available evidence about the wrongdoing underlying the financial crisis. They reveal that the government failed to use its most powerful law enforcement tools despite overwhelming proof of wide-ranging and large-scale fraud on Wall Street before, during, and after the crisis. The pattern of criminal indulgences exposes the onset of a new degree of crony capitalism in which the most economically and political powerful can commit financial crimes of vast scale with criminal and regulatory immunity. A new economic royalty has seized the commanding heights of our economy through their control of trillions in corporate and individual wealth and their ability to dispense patronage. The Case for the Corporate Death Penalty shows that this new lawlessness poses a profound threat that urgently demands political action and proposes attainable measures to restore the rule of law in the financial sector.

Bad Paper

Author : Jake Halpern
ISBN : 9780374711245
Genre : True Crime
File Size : 45. 23 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.

Necessary Trouble

Author : Sarah Jaffe
ISBN : 9781568585376
Genre : Political Science
File Size : 23. 15 MB
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Necessary Trouble is the definitive book on the movements that are poised to permanently remake American politics. We are witnessing a moment of unprecedented political turmoil and social activism. Over the last few years, we've seen the growth of the Tea Party, a twenty-first-century black freedom struggle with BlackLivesMatter, Occupy Wall Street, and the grassroots networks supporting presidential candidates in defiance of the traditional party elites. Sarah Jaffe leads readers into the heart of these movements, explaining what has made ordinary Americans become activists. As Jaffe argues, the financial crisis in 2008 was the spark, the moment that crystallized that something was wrong. For years, Jaffe crisscrossed the country, asking people what they were angry about, and what they were doing to take power back. She attended a people's assembly in a church gymnasium in Ferguson, Missouri; walked a picket line at an Atlanta Burger King; rode a bus from New York to Ohio with student organizers; and went door-to-door in Queens days after Hurricane Sandy. From the successful fight for a 15 minimum wage in Seattle and New York to the halting of Shell's Arctic drilling program, Americans are discovering the effectiveness of making good, necessary trouble. Regardless of political alignment, they are boldly challenging who wields power in this country.

Wall Street And The Financial Crisis

Author : Senate Subcommittee on Investigations
ISBN : 9781616405458
Genre : Business & Economics
File Size : 23. 57 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.

Jpmadoff

Author : Helen Davis Chaitman
ISBN : 1522886206
Genre : Financial crises
File Size : 55. 20 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.

Krazy

Author : Michael Tisserand
ISBN : 9780062098054
Genre : Biography & Autobiography
File Size : 49. 94 MB
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In the tradition of Schulz and Peanuts, an epic and revelatory biography of Krazy Kat creator George Herriman that explores the turbulent time and place from which he emerged—and the deep secret he explored through his art. The creator of the greatest comic strip in history finally gets his due—in an eye-opening biography that lays bare the truth about his art, his heritage, and his life on America’s color line. A native of nineteenth-century New Orleans, George Herriman came of age as an illustrator, journalist, and cartoonist in the boomtown of Los Angeles and the wild metropolis of New York. Appearing in the biggest newspapers of the early twentieth century—including those owned by William Randolph Hearst—Herriman’s Krazy Kat cartoons quickly propelled him to fame. Although fitfully popular with readers of the period, his work has been widely credited with elevating cartoons from daily amusements to anarchic art. Herriman used his work to explore the human condition, creating a modernist fantasia that was inspired by the landscapes he discovered in his travels—from chaotic urban life to the Beckett-like desert vistas of the Southwest. Yet underlying his own life—and often emerging from the contours of his very public art—was a very private secret: known as "the Greek" for his swarthy complexion and curly hair, Herriman was actually African American, born to a prominent Creole family that hid its racial identity in the dangerous days of Reconstruction. Drawing on exhaustive original research into Herriman’s family history, interviews with surviving friends and family, and deep analysis of the artist’s work and surviving written records, Michael Tisserand brings this little-understood figure to vivid life, paying homage to a visionary artist who helped shape modern culture.

If We Can Put A Man On The Moon

Author : William D. Eggers
ISBN : 9781422166369
Genre : Political Science
File Size : 72. 10 MB
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The American people are frustrated with their government-dismayed by a series of high-profile failures (Iraq, Katrina, the financial meltdown) that seems to just keep getting longer. Yet the US has a proud history of great achievements: victory in World War II, the national highway system, welfare reform, the moon landing. The US need more successes like these to reclaim the government's legacy of competence. In If We Can Put a Man on the Moon, William Eggers and John O'Leary explain how to do it. The key? Understand-and avoid-the common pitfalls that trip up public-sector leaders during the journey from idea to results. The authors recount surprisingly entertaining stories of public policy initiatives that succeeded beyond all imagination, including the Marshall Plan, the 1996 welfare reform and London’s Congestion Charge. They also find lessons in failures, including Boston’s Big Dig and the Challenger disaster. If We Can Put a Man on the Moonshows how government really works with an optimistic and non-partisan look at the kinds of large government endeavors that have shaped US history and that are unfolding in the news right now. Ultimately, however, the authors show us that good ideas are just the beginning of a successful initiative. With proper design, commitment, implementation and re-evaluation, our leaders can once again accomplish big things. The authors identify pitfalls including: The Partial Map Trap: Fumbling handoffs throughout project execution The Tolstoy Syndrome: Seeing only the possibilities you want to see Design-Free Design: Designing policies for passage through the legislature, not for implementation The Overconfidence Trap: Creating unrealistic budgets and timelines The Complacency Trap: Failing to recognize that a program needs change At a time of unprecedented challenges, this book, with its abundant examples and hands-on advice, is the essential guide to making government work better. A must-read for every public official, this book will be of interest to anyone who cares about the future of democracy.

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