SCAM ALERT: Foreclosure Rescue Services

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Thursday January 15, 2009 · 10:11 AM PST

2009/01/15 · 10:11

I don't have numbers to support the theory but I believe the number of scams increase during difficult economic times. There are some new predators to be aware of and they prey upon homeowners who are desperately trying to avoid foreclosure. These predators claim to be "foreclosure rescue companies." They typically charge homeowners an upfront fee to modify a mortgage loan but don't do anything to help the homeowner avoid foreclosure.

dennisk

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Wednesday January 07, 2009 · 6:28 PM PST

2009/01/07 · 18:28

Are you fed up yet? As of today, the Wall Street Bailout or TARP has not achieved its main objective: to unfreeze the credit markets. There is still very little lending going on and no one knows what the financial institutions are doing with over $278 billion of our money. We are not helpless in sending a message that someone must be held accountable for the decision to make available low-cost, no strings-attached taxpayer money.

dennisk

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Wednesday December 31, 2008 · 12:12 PM PST

2008/12/31 · 12:12

GMAC was approved for TARP Bailout Money on Monday. A spokesman for GMAC said Tuesday morning that with the new capital/Bailout Money they would immediately loosen their credit criteria and start lending to consumers. Wait a minute, there is something strange about that. Didn’t loosening of credit criteria get us in this crisis in the first place? And even with more credit available are people going to buy a new car if they are worried about having a job? Did Treasury, President and Congress get this bailout all wrong?

dennisk

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Thursday December 18, 2008 · 11:40 AM PST

2008/12/18 · 11:40

Enough is enough. Are you tired of hearing about these Wall Street executives getting bonuses when their companies posted losses while front line workers lose their jobs? Are you angry about companies like AIG and Goldman Sachs, who have received billions of dollars in taxpayer money, refusing to tell us how they are using the money? I know I am, particularly when I heard a news report this morning on ABC's "Goodmorning America" that Goldman Sachs could be funding executive bonuses with taxpayer money. We are not powerless in this situation. There is something we can do about this.

dennisk

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Friday December 12, 2008 · 9:00 AM PST

2008/12/12 · 09:00

Author Note: I believe this is a different take on the issue of auto industry bridge loan.

The congressional Republicans have declared war on working middle class families. It is extremely irresponsible in the midst of an economic crisis. Yesterday, congressional Republicans wanted to cut wages and benefits of the United Auto Workers - American workers. A strange and troubling demand particularly when our economy needs people to have money to buy stuff.

dennisk

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Wednesday December 10, 2008 · 8:53 AM PST

2008/12/10 · 08:53

It is 2018; the U.S. is experiencing the second economic crisis in ten years. Congress passes the Emergency Consumer Credit Stabilization Act of 2018 (ECCSA) after little discussion and debate. ECCSA authorizes the treasury secretary to dump hundreds of billions of dollars into the credit card industry which is being plagued by consumer defaults. ECCSA is quietly inserted into a big appropriations bill.

dennisk

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Saturday December 06, 2008 · 1:34 PM PST

2008/12/06 · 13:34

People are losing their jobs on a daily basis. We thought it is time to provide some very basic information about unemployment benefits. This is not legal advice just information.

dennisk

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Thursday December 04, 2008 · 5:56 PM PST

2008/12/04 · 17:56

I apologize for the brevity of this diary but I have to rant. My head almost exploded when I read this article. Congressman Frank and Senator Dodd think that President-elect Obama has some special powers. Last time I checked, Frank and Dodd had more power and authority than President-elect Obama.

dennisk

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Wednesday November 19, 2008 · 9:31 AM PST

2008/11/19 · 09:31

The "Big Three" U.S. automakers (Chrysler, Ford and General Motors) are begging for financial help from Washington and this in addition to $25 billion in federal loan guarantees they are expected to receive starting in early 2009. I am sure their preference would be for a "blank check" and Congress should resist the urge to act quickly to help these ailing giants. The auto industry needs more than a quick cash infusion. It needs to be totally restructured. But the next Congress and President-Elect Obama have very few good options – allowing the auto industry to fail or disappear is not one of them.

dennisk

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Wednesday October 08, 2008 · 11:13 AM PDT

2008/10/08 · 11:13

This story is inspired by this post (thank you Minerva). We are hearing a rapid drum beat coming from conservative pundits blaming "minorities and risky folks", the Community Reinvestment Act of 1977 and Democrats for supporting Fannie Mae/Freddie Mac for the current financial crisis. As for "blaming minorities and risky folks", it is laughable to think that an economically challenged group of people in this country would bring down financial conglomerates like Bear Stearns and AIG but unfortunately this propaganda campaign is insidious and serves to divide people along racial lines. The Community Reinvestment Act is over thirty years old and did not contribute to the irresponsible lending practices of mortgage lenders and brokers. Fannie and Freddie were victims of greed by their corporate leadership.

dennisk

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Tuesday September 30, 2008 · 10:11 AM PDT

2008/09/30 · 10:11

How about including a small provision in any bailout measure that addresses executive compensation of CEOs in a larger context? It is called "Say on Pay". The provision allows for a shareholder advisory vote (non-binding) on executive compensation.

dennisk

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Friday September 26, 2008 · 2:51 PM PDT

2008/09/26 · 14:51

We hear that "the sky is falling" but we don't know why.

Today, President Bush said that:

We have a problem. - Press Conference, September 26, 2008

Senator Harry Reid said

There is a financial crisis.... We believe something should be done.
-Press Conference, September 26, 2008

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SCAM ALERT: Foreclosure Rescue Services

A Call to Action (Part 2): Take Back Our Money

Did They Get it All Wrong?

A Call to Action: Take Back Our Money

Republicans Declare War

Emergency Consumer Credit Stabilization Act of 2018

Laid Off? Protect Yourself and Your Family First

Congressman Frank and Senator Dodd: Stop Passing the Buck

GM and the Auto Industry: Failure is Not an Option

Words of the Day: De-Regulation and Greed

So Republicans want to be Populists.

What are Asset-Backed Securities?