Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-57147 Mon, 06 Jul 2015 21:30:53 GMT LA Woman Gets Slammer Time For Foreclosure Rescue Scam iehi-feed-57146 Mon, 06 Jul 2015 18:35:59 GMT Brooklyn Swindler Sobs As He Admits To $11M Mortgage Fraud Scheme iehi-feed-57116 Fri, 03 Jul 2015 04:06:21 GMT Credit Manipulator Sentenced to Prison for Mail Fraud iehi-feed-57115 Thu, 02 Jul 2015 22:12:28 GMT Swiss National Bank chief forced to quit because of wife's insider currency trading On Monday August 15, just weeks before Mr Hildebrand announced a major intervention to halt the dramatic rise of the Swiss franc, Mrs Hildebrand sold the franc and bought $504,000 (£309,531 based on sterling's value at the time).

This part of the article is particularly hilarious:

Any suggestion that such information was being leaked, enabling insiders to profit from their knowledge, would be disasterous for faith in a central bank's impartiality. For instance, the European Central Bank is clear that no conflict of interest is presented by the fact that Giacomo Draghi, the son of its president Mario Draghi, works as an interest rates trader in the London office of Morgan Stanley.

And the ECB is "clear" about this... how?

iehi-feed-57099 Wed, 01 Jul 2015 01:26:07 GMT Attorney Craig Brand And Max Keiser Talk About Abuse Of Asset Forfeiture Laws iehi-feed-57070 Sat, 27 Jun 2015 15:05:30 GMT JPMorgan Chase Quits 5 1/2 Year Foreclosure Battle 90 Minutes Before Trial To Avoid Castration By The Court iehi-feed-57057 Thu, 25 Jun 2015 19:56:58 GMT U.S. Supreme Court Upholds Fair Housing Act iehi-feed-57055 Thu, 25 Jun 2015 18:24:55 GMT Florida Attorney Indicted for Bank Fraud and Money Laundering iehi-feed-57042 Wed, 24 Jun 2015 15:34:35 GMT Want To Meet Your Congressman? Bring Big Wads Of $100 Bills iehi-feed-57037 Wed, 24 Jun 2015 14:59:06 GMT Hillary wants prosperity, Fonda joins Greenpeace, Yellen Says Crisis "Set to Fade," and other annoying nonsense | Mandelman Matters iehi-feed-57017 Sat, 20 Jun 2015 17:34:01 GMT Quicken Loans Busted For Deceptive Practices Again! iehi-feed-57013 Sat, 20 Jun 2015 14:08:27 GMT Mandelman's Best Home Buying Advice for 2015 and Beyond iehi-feed-57006 Thu, 18 Jun 2015 18:51:37 GMT House Revives Obama's Trade Agenda in Republican "Save" Working closely with the White House, the Republican-controlled House revived President Barack Obama's trade agenda on Thursday, voting to strengthen his hand in global negotiations and clearing the way for a showdown in the Senate.


Rep. Nancy Pelosi of California, the House Democratic leader, told reporters she doesn't "see a path right now" for the aid package to pass, comments likely to reinforce whatever reluctance pro-trade Democrats have about putting their votes behind a stand-alone trade bill. Boehner was quick to disagree, and said so. As for Pelosi, he said, "I think I'll just keep my comments to myself with regard to how I feel about the leader's actions."

iehi-feed-56999 Thu, 18 Jun 2015 14:26:08 GMT OCC Clamps Down on 6 Banks for Noncompliance with 2011 Consent Orders | Mandelman Matters iehi-feed-56998 Thu, 18 Jun 2015 14:21:22 GMT More Consumers Confused by Role of CFPB than Reverse Mortgage Ads | Mandelman Matters iehi-feed-56976 Mon, 15 Jun 2015 20:09:49 GMT What Congress "Learned" From TARP is Causing the Foreclosure Crisis to Continue | Mandelman Matters Congress, as they say, has absolutely no appetite for publicly being asked to pass anything that helps homeowners who aren't able to make their mortgage payments.  It's very much like TARP... a large percentage of constituents won't agree... and they won't like it one bit.  And that means potentially losing the next election, which is an entirely unacceptable risk to those in Congress.

The editorial board has to differ with Mr. Andelman's requisite assumption that TARP was "necessary". The fundamental "need" is not the same when you are comparing making an (ultimately symbolic) show of shoring-up the banks with investing in the middle class by shoring up the soundness of its main asset (the home). The latter is obviously where we really needed to invest to recover in the long term (and have not); the banks bounced back quickly enough when it became clear they had infinite support from the financial authorities (most enduringly, the Fed, not TARP). But the overall point stands: TARP was a pain point for Congress, because of harsh constituent opinion against, and they don't want to have a vote like that again.

iehi-feed-56954 Sat, 13 Jun 2015 21:30:29 GMT FHA Finally Deals With Spousal Issues In Reverse Mortgages iehi-feed-56937 Thu, 11 Jun 2015 18:15:48 GMT Is A Second GM Bankruptcy On The Horizon? iehi-feed-56925 Wed, 10 Jun 2015 20:25:51 GMT Foreclosures are UP and Back in the Headlines Again | Mandelman Matters iehi-feed-56918 Tue, 09 Jun 2015 17:52:27 GMT Tactics Of Sleazy Bill Collectors