Sunday, November 21, 2010

Homeowners ARE investors - doesn't media understand that.

Do you really think the foreclosure crisis is almost over?  I have a bridge to sell you in brooklyn, if you really think the homeowners endgame is almost done.    After watching Congressional hearings, hope is not in the deck of cards, as far as I can tell.

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Major Financial Fraud Scandal Nearing Endgame

Outside of foreclosure fraud and the chain of title issues that could bring down the entire financial system, you still have your run-of-the-mill financial fraud. Wall Street executives and traders have only a passing familiarity with integrity, and the authorities may finally be catching up with them.
Federal authorities, capping a three-year investigation, are preparing insider-trading charges that could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders and analysts across the nation, according to people familiar with the matter.
The criminal and civil probes, which authorities say could eclipse the impact on the financial industry of any previous such investigation, are examining whether multiple insider-trading rings reaped illegal profits totaling tens of millions of dollars, the people say. Some charges could be brought before year-end, they say.
The investigations, if they bear fruit, have the potential to expose a culture of pervasive insider trading in U.S. financial markets, including new ways non-public information is passed to traders through experts tied to specific industries or companies, federal authorities say.
I think that anyone who has looked into this knows that there is fraud at the heart of Wall Street. This investigation concerns, if anything, small-time fraud comparatively; “tens of millions of dollars” is a rounding error in the grand scheme of things. But neverthe

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