Read more:

http://www.businessinsider.com/fitch-goes-on-rampage-cuts-spain-italy-and-belgium-2012-1#ixzz1kglWgQZU

Fitch just cut the long-term issuer ratings of 5 EU countries:
Belgium: AA+ to AA
Spain: AA- to A
Italy: A+ to A-
Cyprus: BBB to BBB-
Slovenia: AA- to A
It affirmed Ireland’s BBB+ rating with a negative outlook.
Borrowing costs have been sinking for these countries lately–particularly for Italy and Spain—after the European Central Bank announced liquidity support measures in early December that have lessened mounting worries about the health of the banking system.
While Fitch says that it supports EU leaders actions to address the crisis so far, a lot more has to happen before these countries are out of trouble:
In Fitch’s opinion, the eurozone crisis will only be resolved as and when there is broad economic recovery. It is evident that further substantial reforms of the governance of the eurozone will be required to secure economic and financial stability, including greater fiscal integration.
In particular, Fitch suggested that large-scale purchases of sovereign bonds by domestic banks after the European Central Bank conducted its first LTRO in December has not helped matters in the long-run:
Rising “home bias” in the allocation of capital, the divergence in monetary and credit conditions across the eurozone, and near-term economic outlook highlight the greater vulnerability to monetary as well as financing shocks faced by these sovereign governments.

Read more: http://www.businessinsider.com/fitch-goes-on-rampage-cuts-spain-italy-and-belgium-2012-1#ixzz1kgm6uL7S

ATTORNEY GENERAL HOLDER SPEAKS AT THE ANNOUNCEMENT OF THE FINANCIAL FRAUD ENFORCEMENT TASK FORCE’S NEW RESIDENTIAL MORTGAGE-BACKED SECURITIES WORKING GROUP
WASHINGTON, D.C. ~ Friday, January 27, 2012
Good morning. Today, I’m pleased to join with so many key partners – including Director of Enforcement for the U.S. Securities and Exchange Commission, Robert Khuzami; Secretary for the U.S. Department of Housing and Urban Development, Shaun Donovan; Attorney General for the State of New York, Eric Schneiderman; United States Attorney for the District of Colorado, John Walsh; Assistant Attorney General for the Justice Department’s Civil Division, Tony West; and other critical leaders – in announcing an important step forward in investigating the financial misconduct – and, specifically, misconduct in the market for mortgage-backed securities – that contributed to our nation’s recent economic crisis.
Along with Lanny Breuer, Assistant Attorney General for the Criminal Division – who, unfortunately, is traveling today and could not be here – the team standing with me will be leading a new initiative: the Residential Mortgage-Backed Securities Working Group, which will operate as part of the Financial Fraud Enforcement Task Force. This Working Group brings together a variety of federal, state, and local partners – including HUD, the FBI, IRS, Consumer Financial Protection Bureau, Financial Crimes Enforcement Network, and Federal Housing Finance Agency Office of Inspector General. These, and many other, Task Force members have been conducting investigations into the residential mortgage-backed securities market – as well as related aspects of the housing market – for some time. And they’ve seen firsthand how massive failures in this market were a driving force behind the nationwide housing collapse that has had devastating effects for investors, consumers, and entire communities.
Beginning with its first full meeting – which will take place immediately after this press conference – the Working Group will streamline and strengthen current and future efforts to identify, investigate, and prosecute instances of wrongdoing in the packaging, selling, and valuing of residential mortgage-backed securities. I am confident that this new effort will improve our ability to ensure justice for victims; help restore faith in our financial markets and institutions; and allow us to answer the call that President Obama issued earlier this week, in his State of the Union address.
On Tuesday night, the President referenced this initiative, asking us to, “hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans.”
That is precisely what we intend to do. And the good news is that we aren’t starting from scratch.
Over the past three years, we have been aggressively investigating the causes of the financial crisis. And we have learned that much of the conduct that led to the crisis was – as the President has said – unethical, and, in many instances, extremely reckless. We also have learned that behavior that is unethical or reckless may not necessarily be criminal. When we find evidence of criminal wrongdoing, we bring criminal prosecutions. When we don’t, we endeavor to use other tools available to us – such as civil sanctions – to seek justice. My number one to commitment to the American people is that we will continue to devote significant resources to combating financial fraud and be as aggressive and creative as we can be in holding accountable those who, in violating the law, contributed to the financial crisis.
For example, in just the last six months, the Department has achieved prison sentences of 60, 45, 30, and 20 years in a variety of financial fraud cases charging securities fraud, bank fraud, and investment fraud. And, just last month, I announced the largest fair lending settlement in history, resolving allegations that Countrywide Financial Corporation and its subsidiaries engaged in a widespread pattern or practice of discrimination against minority borrowers from 2004 through 2008.
With this new Working Group, we will marshal our civil and criminal capabilities to build on these efforts – by focusing on abuses in the residential-mortgage backed securities market. I am pleased to report that this Working Group has considerable Department resources behind it as it builds on activities that have been underway through the broader Task Force. Currently, 15 attorneys, investigators, and analysts – here at Main Justice and throughout our U.S. Attorneys’ Offices – are supporting the investigative efforts that this Working Group will be focusing on going forward. And the FBI has assigned 10 agents and analysts to work with the group immediately. In the coming weeks, another 30 attorneys, investigators, and support staff from U.S. Attorneys’ Offices will join the Group’s work.
We are wasting no time in aggressively pursuing any and all leads. In fact, as part our current investigations, the Department recently issued civil subpoenas focusing on issues related to the market for residential mortgage-backed securities to 11 different financial institutions – and you can expect more to follow.
Of course, I can’t go into detail about our existing investigations. But I can tell you that significant efforts are moving forward, by both federal and state authorities. And I can assure you that, if we uncover evidence of fraud or other illegal conduct, we will bring the appropriate criminal or civil charges.
I’m also pleased to report that these teams will be able to hit the ground running. Already, the Working Group’s co-chairs have met to discuss the structure of our investigative efforts, how teams should and will be organized, and how information can be shared more effectively.
With this focus on collaboration – and by bringing our government’s full enforcement resources to bear – I have no doubt that we will improve our ability to recover losses, to prevent fraud, to bring abuses to light, and to hold those who violate the law accountable. That’s what the challenge before us demands. And that’s what the American people deserve.
I want to thank all of our Working Group members for their participation – and their dedication to this effort. And, now, I’d like to turn things over to one of the leaders of this important work – Director Robert Khuzami.
~

U.S. Attorney General Holder, State and Federal Officials Announce Collaboration to Investigate Residential Mortgage-backed Securities Market
WASHINGTON – Attorney General Eric Holder along with Housing and Urban Development (HUD) Secretary Shaun Donovan, Securities and Exchange Commission (SEC) Director of Enforcement Robert Khuzami and New York Attorney General Eric T. Schneiderman today announced the formation of the Residential Mortgage-Backed Securities Working Group under President Obama’s Financial Fraud Enforcement Task Force (FFETF).

At the direction of the President, this Working Group brings together the Department of Justice (DOJ), several state attorneys general and other federal entities to investigate those responsible for misconduct contributing to the financial crisis through the pooling and sale of residential mortgage-backed securities. This effort will be in coordination with and in addition to the ongoing efforts and investigations by the Justice Department, FFETF members and state and federal law enforcement investigating and prosecuting other types of financial fraud.

Attorney General Holder announced that the new Working Group will consist of at least 55 Department of Justice attorneys, analysts, agents and investigators from around the country. Currently, 15 civil and criminal attorneys are part of the Working Group, along with 10 FBI agents and analysts who will be assigned to the Working Group efforts. An additional 30 attorneys, investigators and other staff around the country will join the Working Group efforts in the coming weeks. This team will join existing state and federal resources investigating similar misconduct under those authorities.

The goals of this collaboration will be: to hold accountable any institutions that violated the law; to compensate victims and help provide relief for homeowners struggling from the collapse of the housing market, caused in part by this wrongdoing; and to help Americans finally turn the page on this destructive period in our nation’s history.

“This Working Group brings together federal and state partners to strengthen current and future efforts to investigate and prosecute instances of wrongdoing in the residential mortgage-backed securities market,” said Attorney General Holder. “With this focus on collaboration – and by bringing our government’s full enforcement resources to bear – I have no doubt that we will improve our ability to recover losses, to prevent fraud, to bring abuses to light, and to hold those who violate the law accountable. That’s what the challenge before us demands, and that’s what the American people deserve.”

The working group will be co-chaired by senior officials at the Department of Justice and SEC, including Lanny Breuer, Assistant Attorney General, Criminal Division, DOJ; Robert Khuzami, Director of Enforcement, SEC; John Walsh, U.S. Attorney, District of Colorado; and Tony West, Assistant Attorney General, Civil Division, DOJ.

The working group will also be co-chaired by New York Attorney General Schneiderman, who will lead the effort from the state level. Other state Attorneys General have been and will be joining this effort.

“I am pleased to co-chair this important effort. Each of us offers different tools and talents, but we are all united by a common and continuing desire to identify misconduct in the mortgage securitization process,” said SEC Enforcement Director Khuzami. “The SEC has issued scores of subpoenas, obtained millions of documents, and interviewed dozens and dozens of key witnesses related to mortgage-backed securities. This collaborative effort will enable us pool our knowledge and leverage our resources.”

“Millions of American families have been harmed by the foreclosure crisis,” said HUD Secretary Donovan. “These families deserve justice. They deserve relief. That is why this investigation is so important. With a new Residential Mortgage-Backed Securities Working Group led by Attorney General Holder and state leaders like New York Attorney General Schneiderman, we will build on the work of the President’s Financial Fraud Enforcement Task Force by investigating misconduct we know led directly to the financial crisis. And I’m proud that the Office of the HUD Inspector General David Montoya —which over the past year has been central to uncovering wrongdoing with respect to faulty foreclosure servicing practices—will play a critical role in the mortgage origination component of this review.”

“I would like to thank President Obama and Attorney General Holder for their leadership in combating financial fraud in this country and I look forward to co-chairing this working group that marshals state and federal resources to build on those efforts by bringing justice on behalf the victims of the misconduct that caused the mortgage crisis,” said Attorney General Schneiderman. “In coordination with our federal partners, our office will continue its steadfast commitment to holding those responsible for the mortgage crisis accountable, providing meaningful relief for homeowners commensurate with the scale of the misconduct, and getting our economy moving again. The American people deserve a thorough investigation into the global financial meltdown to ensure nothing like it ever happens again, and today’s announcement is a major step in the right direction.”

The Obama Administration is committed to ensuring that justice and relief are provided for the millions of American families harmed by the financial crisis.

President Obama created the Financial Fraud Enforcement Task Force by executive order in November 2009 to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. With more than 20 federal agencies, 94 U.S. Attorneys’ Offices and state and local partners, it is the broadest coalition of law enforcement, investigatory and regulatory agencies ever assembled to combat fraud and bring to bear a powerful array of criminal and civil enforcement resources.

Since its formation, the Task Force has made great strides in facilitating increased investigation and prosecution of financial crimes; enhancing coordination and cooperation among federal, state and local authorities; addressing discrimination in the lending and financial markets and conducting outreach to the public, victims, financial institutions and other organizations. Task Force members have charged a record number of mortgage fraud cases in the past two years, trained more than 100,000 professionals responsible for awarding and overseeing Recovery Act funds and held regional summits around the country to discuss strategies, resources and initiatives as well as to meet with communities most affected by the financial crisis.

Learn more about the Residential Mortgage-Backed Securities Working Group and the Financial Fraud Enforcement Task Force at www.stopfraud.gov .

Download Attorney General Holder’s memo to the Financial Fraud Enforcement Task Force here: http://www.justice.gov/ag/residential-mortgage-backed-securities.pdf.

I found it very odd that he did disclose his taxes but I did not see it and no one did either, he buys Mortgage Backed Securities, sicko, not a friend of this homeowner, like I did not know he was not for us none of them are, we need to change the whole system, the system does not work as it it in the past.

http://stopforeclosurefraud.com/2012/01/26/exclusive-romney-profited-from-mortgage-lenders-foreclosing-on-thousands-of-floridians/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ForeclosureFraudByDinsfla+%28FORECLOSURE+FRAUD+%7C+by+DinSFLA%29

EXCLUSIVE: Romney Profited From Mortgage Lenders Foreclosing On Thousands Of Floridians
By Josh Israel on Jan 25, 2012 at 9:20 am
A ThinkProgress examination of Mitt Romney’s presidential personal financial disclosures from May 2011 reveal that the former Massachusetts governor and his wife own or owned millions of dollars worth of a Goldman Sachs investment fund invested heavily in mortgage-backed obligations. And the current owners of those mortgage debts began foreclosure proceedings against thousands of Floridians.
Along with his investments in Bain Capital funds linked to offshore tax havens, the Romneys have large investments in the Goldman Sachs Strategic Income Fund (institutional class). The firm’s March 2011 annual report for the fund notes that about 8 percent of the fund is invested in banks and 24.5 percent is invested in mortgage-backed obligations. Romney’s form says he has invested between $1,000,001 and $5,000,000 in the fund and his wife Ann has invested an additional $1 million-plus. Since the 2008 economic meltdown and the enactment of the Troubled Asset Relief Fund, this fund has done quite well, growing 7.88 percent between April 2010 and March 2011.

Here is a list of known ROBO signers, the list was derived from the internet at large, the original list, here is a re-post of the names these people sign assignments of mortgages for banks and mortgage companies for a fee, they are not involved with the loans and normally they are listed as vice presidents of the banks they sign for.

Mortgage Affidavits and assignments and Endorsements are fake if any of the above people signed them or if the items listed below occur, click the link for the information a must for every homeowner, if you need help email me at malibubooks@gmail.com

Here is a list of known ROBO signers

Normally this sort of information proves very difficult to obtain and sometimes very expensive, the information disclosed in the letter, if true, is very helpful to a homeowner in court. I know the information is untrue, industry practice tells me this and so does history.

I may be able to get the blue ink fake copy of this letter and I will offer it for sale at $20.00 each incl regular mail. leave a comment with your email and I will contact you. I also include an affidavit of the fact of sorts and a notary signature with stamp, making for “admissible” evidence.

KKLETTER

I am a homeowner and I am asking that you bring the criminal banks to meet the law and its justice, those of our land and make sure they pay for their crimes against the citizens of this once great nation.
Please know $20 Billion will not cut it, the figure has to be more like $450 Billion, by this summer the Occupation would have let the government know what actions will be acceptable to stop the madness, but the Occupation will never really stop, the protest will go on for a very long time, we demand redress, I speak as “we” but I am no leader of anything, my only authority are in these here words, but I know the Occupation will change this country forever, we want our country back, and the sooner this occurs the less work we will have to do.

The banks have stolen trillions of our money, the 1% are guilty of grand thief, and these should be in jail. The banks and the people who work for and in support of the banks are equally guilty and thus should pay the same price, 18 million homes have been vacated over the last 5 complete years, most of these were done outside and in contravention of our rule of law, this is a country of laws, if a citizen errs, there is no excuse for such error, this error was on a grand scale, properly planned, but the plan did not completely work and this plan to seize our places to live, will not work, any and all further injustice will solely act to empower, yet more, the Occupation.

[[ “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” ]]
” Written by Jefferson in a letter to the Secretary of the Treasury Albert Gallatin (1802).”…

The inability or [unwillingness] by our elected officials to properly act will cause devastation further, and such may not be able to be readily redressed. I ask that you break up these banks once and for all, the 99% will march until the correct things are done in satisfaction of its wishes, such wishes have not yet been expressed decisively as the numbers are not yet in the tens of millions, I hope by this summer the numbers will be of sufficient nature, again I am no leader but I am a wimpy member of the 99.
The leaders of America cannot and should not allow the citizens to be pillaged in such a manner, which has the natural effect but to infuriate them, as the Occupation have presented itself for the whole world to see, and “the whole world is watching”.
Mr. Governor the writing is on the wall from coast to coast and on millions of billboards, the support of the Occupation is very widespread, the Police brutality is a gift to the occupation, have you ever seen the movie Star Trek?, well the Borg in this movie, stated that “resistance is futile”, the more blows the Occupation gets at the hands of the leaders of this country the larger Occupation grows in numbers.
I beg, please do right by and for the homeowners, protect and respect the property rights of the homeowners, the homeowners are the 99.
The homeowners do not need assistance, as the black letter protective laws are already on the books, tell the justice department to obey our laws and the homeowners will get proper redress in our courts.