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The Stock Room page 58
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(Continued from page 57) _______________________________________ apppro’s take for 10/02/2010 @ 09:00 am EST: Everyone must read this quote from a New York Times article: Bank of America to Freeze Foreclosure Cases - NYTimes.com “Sometimes these loans are still owned by the lender but often, the banks are merely the loan servicer acting on behalf of the owner. Many of the loans are owned by Fannie Mae and Freddie Mac, the mortgage holding companies now controlled by the Treasury. In other cases the loans have been sold to private investment pools. Confronted with so many cases, the lenders tried to process them on a wholesale basis, with the goal of avoiding the expense of a full trial and instead getting summary judgments. The tool for doing this was the so-called robo-signers, in which midlevel bank executives would sign thousands of affidavits a month attesting that they had personal knowledge that the facts of the case were as presented. The affidavits were prepared by lawyers who were paid a flat fee, which also placed a premium on volume. When defense lawyers started deposing these robo-signers, they acknowledged that they could not possibly have knowledge of all the cases. The banks say this is a technicality and they will refile the proper affidavits. The defense lawyers say the practice calls the cases, and indeed the entire process, into question.” What we learn here is that a few lawyers (here we go) are now forcing everyone back into limbo so as to increase their fees and importance. We also learn that what I said earlier, “that this was SOP and not anything else and that the banks would do whatever they could to appease the lawyers”… well, that was true too. What we also learned, if you looked over most other news headlines, is that certain parties want to portray this as a major bank conspiracy and our banks need to be punished more for no good damn reason! I am sure everyone feels sorry for all those unfortunate people that are in foreclosure, but why are we further destroying OUR financial system so as to bail out Barney Franks’ Fannie & Freddie disasters; and to give some shorts via their nega-pundit minions… a new lease on life? <<Many of the loans are owned by Fannie Mae and Freddie Mac, the mortgage holding companies now controlled by the Treasury.>> Quick side note: Isn’t our Prez a lawyer? Makes you wonder, doesn’t it! "Here's another nice mess you've gotten me into." _______________________________________ apppro’s take for 10/01/2010 @ 06:00 pm EST: Two major things happened this week: We got the SEC’s final report on what caused the May 6th Flash Crash:
Several banks were falsely accused of fraud due to a foreclosure snafu:
On the Flash Crash we basically got, “'What’chu talkin bout Willis?” type answer. The SEC said the markets were already fragile due to angst in Europe, and 1 very large trade got screwed up and this lead to the almost catastrophic failure of everything else. Think about that people! It’s like saying that because there MIGHT be a light rain coming and 1 person decides to get off the highway earlier than anticipated, so we get a 3,000 car pileup! Is the SEC kidding? Our entire financial system almost came crashing down because a few people were nervous over European rumorboarding and SkyNet didn’t know how to handle ONE hysterical trade? And did the SEC give any concrete solutions? What do you think? This week we also had our major banks admit that branch foreclosure officers may not have ‘totally’ read through over thousands of foreclosure documents consisting of 1000’s of quasi similar pages. YOU THINK! Who in their right mind even expected that? Someone hasn’t made payments in months… probably moved out… lawyers drew up documents… so why then would another person need to reread page after page just so that when they say they read it in entirety – they really did read the entire thing and not just the main points? I’m sorry, but asking that is ridiculous and probably NEVER was done, even in good times. Now some judge somewhere got a bug up his **s and is making tens of thousands go into further limbo just to appease his ego. Maybe over 100,000 foreclosures are being forced to be reread and delayed. Can you just imagine how the shorts have bounced on this! Just another reason to drive our financial system back into the Stone Age! What you all should take away from the above 2 stories, is that we have become the tools of shorts who have expertly manipulated our fears and stupidity so as to continue their narcissistic madness. And please don’t get me started over this insanity that I emailed everyone about earlier. 'Hezbollah-Land': Terrorist Theme Park Opens In Lebanon (VIDEO) But what really was repulsive was that reply I got from the news reporter. Could you believe it? "one mans terrorist is another mans freedom fighter...” _____________________________________ apppro’s take for 09/30/2010 @ 06:00 pm EST: I’m not going to give a long speech on technical this or macro that, but just know 1 thing:
Our economy and the World’s economies depend on a healthy and vibrant banking/financial system. Over the past 2 years we all have sacrificed a great deal and suffered a lot of angst all from what a few shorts tried to do to our banks. Obama has been no help and the total lack of bank CEO guts to speak out on their own behalf, has created a vacuum that needs to be filled. While we are not being bombarded by jerks screaming the ‘N’ word at us all day, we are still having one nega-pundit after another coming up with one scenario after another that causes the same angst and volatility that we all still desperately need to get rid of. Understand that these shorts are NOT doing this for some selfless, altruistic reason. If we allow this to happen a 2nd time, like it did in the winter of ’09 – well, then we deserve what we get. The banks are NOT the villains here! STOP THE INSANITY NOW! Revised Tax Rules: 1. Capital gains 5+ years - 5% tax on capital gains 2. Capital gains 2 > 5 years - 18% tax on capital gain 3. Capital gains 1 > 2 years - 35% tax on capital gains 4. Capital gains 6 > 12 months - 45% tax on capital gains 5. Capital gains under <6 months - 55% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund.
The 4(5) Golden Rules 1. Immediately, reinstate the Up-Tick Rule. 2. Crack down on naked short selling. Require stock certificate #'s when a short sale needs to be covered, including ETF’s. 3. Institute some rules on how the media ’reports’ news in order to prevent rumor-boarding. Not censorship… just sensibility & responsibility. 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund! NEW! 5. Have ALL ETF’s trade on a 20-minute delayed basis. Get these instruments of mass destruction back to what they were supposed to do: mimic mutual funds. _______________________________________ apppro’s take for 09/29/2010 @ 06:00 pm EST: “Clueless in Seattle”
We just don’t’ seem to get it! The “Nation of Bash & Blame” keeps putting out crapolla just so they can extort monies out of our banking system. Once and for all, OUR banks did not cause this mess. The failed institutions were NOT banks. Our BIG banks saved our collective butts and were NOT the cause of the crisis.
Ambac Insurance was NOT a bank! MBIA was NOT a bank! Analy Capital was NOT a bank! Bear Stearns was NOT a bank! WAMU was NOT a big bank and a BIG bank bought them out! Lehman’s, the granddaddy of them all was NOT a bank! AIG was NOT a bank! Merrill Lynch was and is NOT a bank! And even GM was NOT a bank!
FinReg is and will continue to be a total disaster based on hatred and payback! _______________________________________ apppro’s take for 09/28/2010 @ 02:00 pm EST: We’re still looking for blame in all the wrong places. Today we got new figures on housing prices and well – shocker people – prices for the most part went up slightly and basically we’re back to 2003 levels. Come on everyone, that’s probably where they should be! We ALL allowed far too many over-paid basketball players to drive us all nuts with jealousy over their 5 bedroom homes with media-rooms… we allowed a few speculators to drive prices into the stratosphere so they could turn a quick profit… we allowed the media to make us all salivate over summer/winter/spring/fall vacation homes we couldn’t afford… and we ALL promoted via Barney Franks’ insanity the notion that every person should have 10 acres of land even if they had no job! Now we’re somewhat back to reality and everyone is screaming it’s a new normal or some other crapolla! GET REAL!!!!! Case Schiller came out with their numbers this morning and guess what – housing is improving, albeit slowly.
We even had verification from other reliable sources that it’s NOT the ‘interest rate’, but more rather it’s just the ‘interest in buying’ that is determining home sales now. It really is true that we have become the “Nation of Wait”! What we need is for our Fed to realize that driving interest rates lower will not help, by buying bloated Treasury’s they are just tying up money that could be used elsewhere, that their actions are creating more angst and volatility – not less, and that they should take a time-out and stop trying the manipulate the economy so much. All we are left with is the undeniable fact that speculators and traders/traitors have used our collective fear to drive the price of useless gold to new highs and bloated Treasury yields to new lows. Late entry: Bank of America Analysts Attack Fed's QE2 “Quantitative Easing does not boost real economic activity or inflation — it is not an injection of new money, like traditional monetary easing. Quantitative Easing is a wrong-headed approach to monetary policy that was born in the midst of a panic. It was only necessary because strict mark-to-market accounting rules made it difficult or impossible for private companies to hold risky assets. Now that these fair value accounting rules have been corrected, there is no further justification for QE.” _______________________________________ apppro’s take for 09/26/2010 @ 06:00 pm EST:
What really “Grinds My Gears” is how some of Obama’s mouth pieces have the nerve to manipulate history and mislead the gullible into believing their own reworking of the distorted truth. Today was really a butte! Former Clinton Labor Secretary Robert Reich came on “Sunday Morning” and had the nerve to totally rewrite what has been going on! Yeah, BUT what he doesn’t say and even goes out of his way to misinterpret, is that the very ones that made the $1 billion are the VERY SHORTS that are still trying to take down the system… NOT traditional hedge funds, NOT investment banks (Excluding Goldman Sachs, of course!), but rather PURE SHORT FUNDS. There is a huge difference! I’ve linked story after story in the past about this, but now Reich and others want YOU to believe that it’s the banks’ and corporate CEO’s and NOT their destroyers that are making those outlandish sums! Are we all this stupid and oblivious? Why the heck do you think that I’ve been screaming for almost 3 years to enact Golden Rule #4?? 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales not directly tied to a long position made by a registered and regulated hedge fund! And don’t even get me started on how the reporter completely misses the point behind Pimco’s Mohammed and the true, deplorable meaning of his ‘New Normal’! New for us, but the good old, if not better for him! _______________________________________ narrator’s take for 09/26/2010 @9:00 am EST: narrator’s website: SiriusNews.com
Sent: Sat, Sep 25, 2010 4:51 pm Dear Attorney General of Florida,
I am writing you today as a citizen of the state of Florida to ask you to investigate fraud and property theft in regards to my purchase and ownership of stock in a company named CMKM Diamonds, Inc., (CMKX). For over 7 years, I have been misled and lied to by every government and financial agency that I have asked for help and information.
The information presented to me is about 5-6 years ago, our company and stock was used as a vehicle by U.S. government agencies, including the CIA, FBI, SEC, DOJ and the Department of Homeland Security, under the auspices of Mr. Robert Maheu, to conduct an operation in the stock market to entrap those entities which were using our equities trading system for illegal purposes, including gathering funds for terrorism.
In exchange for using our company this way, unbeknownst to any shareholder, Mr. Maheu reached an agreement with these same government agencies that monies and damages that he collected from these criminals were to be distributed to CMKX Diamonds, Inc. shareholders. Mr. Maheu agreed to allow the SEC to maintain control of these funds, which were to be released in 2006. As of this letter, 4 years later, we shareholders sit with nothing. I am writing you today to ask you to launch an investigation as to why our funds are still being held. Our funds have supposedly now been tied into a fund called the World Global Settlements, which is being controlled by the U.S Government.
Attorney A. Clifton Hodges of Pasadena, CA, 626-564-9797, has filed the largest lawsuit ever in U.S. Federal court, a 3.87 trillion dollar Bivens action regarding this matter. He has stated clearly in this court that the shareholder funds are being held at the Depository Trust and Clearing Corporation (DTCC).
I would like you to investigate the following: 1) fraud-based upon the fact that my investment was used by the government, without my knowledge, to conduct this operation and I was damaged by that action. 2) The theft of personal property-the monies and funds that were collected on my behalf as a shareholder have not been distributed to me and are being illegally held by the U.S. government and other entities.
The right to have these answers is governed by the consumer laws of this state. I look forward to you contacting me and helping me reach a conclusion in this matter.
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