dimelab dimelab: shrinking the gap between talk and action.

recreate Topic in The Credit Debacle Catalog

CBO Recreates (1); recreating documents (1).

Wed 2010-07-21 10:26 EDT

Professor Jamie Galbraith's testimony to Deficit Commission | Angry Bear

1. Clouds Over the Work of the Commission. ... 2. Current Deficits and Rising Debt were Caused by the Financial Crisis. ... 3. Future Deficit Projections are Generally Based on Forecasts which Begin by Assuming Full Recovery, but this Assumption is Highly Unrealistic. ... 4. Having Cured the Deficits with an Unrealistic Forecast, CBO Recreates them with Another, Very Different, but Equally Unrealistic Forecast. ... 5. The Only Way to Reduce Public Deficits is to Restore Private Credit. ... 6. Social Security and Medicare "Solvency" is not part of the Commission's Mandate. ... 7. As a Transfer Program, Social Security is Also Irrelevant to Deficit Economics. ... 8. Markets are not calling for Deficit Reduction; Now or Later. ... 9. In Reality, the US Government Spends First & Borrows Later; Public Spending Creates a Demand for Treasuries in the Private Sector. ... 10. The Best Place in History (for this Commission) Would be No Place At All.

Angry Bear; deficit Commission; Professor Jamie Galbraith's testimony.

Tue 2009-10-27 13:06 EDT

Courthouse News Service

Bank of America and Countrywide Home Loans destroyed mortgage documents, and "recreate" them by "insert(ing) data as they see fit," to cover up their own failure to keep records - or their fraud - according to a federal RICO class action. "To cover up the servicing mistakes and fraud and misrepresentation in the servicing of a consumer escrow, Defendants 'recreate' letters, insert data as they see fit, and fail to produce the entire HUD complaint form. This way, a consumer is left in the dark about the fraud that occurred to them," the complaint states. Lead plaintiff Kim Gorham says that when she sent a letter seeking information about her escrow account, she was informed that it had been "destroyed by a letter opener."

Courthouse News Service.

Tue 2008-01-08 00:00 EST

Calculated Risk: Turns Out Judges Don't Like "Efficient" Servicers

CFC slapped by bankruptcy judge over recreating documents; tanta tirade on psychopathic internal processes

Calculated Risk; efficiency; judge; services; turns.

Copyright © 2010 dimelab. All rights reserved.