Real Wealth Society

Friday, March 06, 2009

SPECIAL MADOFF MARCH 09

GO TO FEBRUARY HEADLINES

WEEK 25 - 31
Trustee Says He’s Found $75 Million of Madoff’s
Democrats hold on to Madoff money
Madoff sell-off of Judaic items
Judge freezes Madoff's brother's assets
Inside Bernard Madoff's ponzi scheme
Money From Madoff Is Rerouted
Madoff's Wife Got $2 Million from UK Unit: Report
Madoff Fraud Charges Could Be Filed in UK This Year
Madoff Liquidator Says $2.6 Billion Will Pay Victims of Fraud
'Madoff Cheated on Wife' & Other D-Bag Accusations
Peter Madoff Will Seek to Challenge Asset Freeze, Lawyer Says
Geneva Whispers About New Money From Mumbai Amid Madoff Scandal

WEEK 17 - 24
I'm Bernard Madoff--I'm Telling All. Right Here. Trust Me
Madoff Congo scandal
Madoff’s Accountant Is Charged With Fraud
Madoff's lawyers to ask court to release him
Madoff Scheme Sinks Austrian Bank
Madoff the Magus
What Did Madoff Clan Really Know?
Madoff’s 19th Century Forerunner Shows Rules Can’t Stop Thieves
Email Scammers Support Harsh Sentence For Madoff
French officials to seize Ruth Madoff's chateau
Lawyer says Madoff assets reach $1 billion mark
Madoff, the Sit-Com
Why So Many Smart People Invested with Madoff

WEEK 09 - 16
Ruth Madoff to hire own attorney
Madoff Serfs Were Faking Trading Tickets
The Yeshiva World » Madoff Investors Prepare For Court ...
Madoff case sparks calls for global court over finance fraud
Sesame Street Explains The Madoff Scandal (VIDEO)
Madoff Had Accomplices: His Victims
Bernard Madoff swaps penthouse for a wardrobe-sized cell
Bernard Madoff is Small Potatoes Compared to the Government
Madoff Victims Want Answers, Not Apologies
Madoffs' assets totaled $823 million at end of '08
Bernie Madoff's Billionaire Victims
Ruth Madoff's assets may be frozen by Feds

WEEK 01 - 08
Madoff investors prepare for court confrontation
On the trail of Bernie Madoff
Madoff's Ponzi Scheme: $50 Billion Figure May Be Fictitious
Madoff Deal In the Works Crafted by Holder (Crafter of the Marc Rich Pardon)?
SEC Will Scrutinize How It Handles Tips After Missing Madoff
UBS loses ruling on Madoff documents
140 Madoff Victims Treated As One Person
Former Merril execs invested in Madoff funds: report
Synagogue taps eBay as Madoff losses reduce donations
BNP Loses Cases Against UBS Over Madoff
Bernie Madoff: Mystery Man
Unleashes on Madoff
Madoff Attorney Receiving Death Threats
Madoff's World
It's Official: Mrs Madoff is Delusional
Madoff's Wife Smart Enough Not To Get Fooled By Ponzi Scheme
Recovering taxes for Madoff victims is tough
Madoff Feeder Bank Medici Probed Criminally In Vienna
Bernard Madoff whistleblower on ‘60 Minutes’
Presumed Innocent? Bernie Madoff?
Family That Peddled Madoff Fund Now Social Pariahs
Big selloff...Madoff wants millions...Snow woes
Madoff clients' lawsuits look to others for recompense

Monday, February 02, 2009

SPECIAL MADOFF - FEB 2009

go to December 08-January 09

WEEK: 02/22--2/28
Madoff moved $164 million from UK firm to U.S.: receiver
Madoff Whistleblower On 60 Minutes: A Sneak Peak
Why SEC missed Madoff
90-Year-Old Madoff Client Goes Back to Work
Conn. lawmakers hold hearing on Madoff scandal
Connecticut Town Sues Over Madoff Losses
Elie Wiesel and Bernard Madoff
Madoff 101: Total Immersion for Lawyers
Obama Seeks SEC Overhaul With 13 Percent Budget Boost
Family feud! Lautenberg kin sue Madoff kin
Madoff and Merkin - the Pioneers of Odianthropy
Madoff-style economics: killing our country?
Madoff stashed $182 million in his nonprofit foundation as tax ploy
The dark lesson of Bernie Madoff
Luxembourg warns UBS on Madoff fraud
The investment scam-artist's playbook
IRS Under Pressure to Offer Tax Relief to Madoff Victims
Judge tosses New York company's Madoff suit
For Madoff, Reputation Is Apparently a One-Way Street
Judge Rules Against Late Investor With Madoff
Have Mexican Jews lost their wealth in Madoff-like scheme
Madoff Must Have Had Help, Lawyers Say, Citing Trustee Report
New York Mag makes up Madoff as a Monster
Bernard Madoff, “The Monster Mensch”
Bernie Madoff Turned Down $1 Billion
The Stock Market Blog: Bernie Madoff Victim Map
Beyond Basics: Madoff Scandal for Beginners/Conspiracy Theory

WEEK: 02/16--2/21
Madoff distortion makes some hedge funds look good
Austin Capital sued by pension fund over Madoff loss
BATS Exchange gets subpoena in Madoff case
The Tangled Web of Bernard Madoff's Network
Kucinich Launches Investigation: SEC Was Told To Back Off Stanford Group In 2006
Who’s behind Madoff?
Madoff ‘trades’ were illusions
Madoff trustee: No securities bought for customers in 13 years
Madoff scandal boon for mutual funds, DWS exec says
Madoff Brokerage Liquidator Subpoenas 13 Financial Institutions
Bank’s Madoff Settlement Doesn’t Impress Investors
Smash Bernard Madoff (The Doll) For $99.95
Stanford And Madoff: What Happens When People Want Their Money
Stanford, Madoff gave lots of dosh to politicians
Wall Streeters Kept Mum on Madoff Doubts: Report
The Madoff Bill
Madoff Victim Billionaire Walter Noel's Tropical Refuge
The 'Boston whistleblower' fingered Bernard Madoff for fraud
Madoff Trustee Picard Subpoenas Jefferies in Liquidation Case
Madoff aide falls under suspicion
Madoff doll a smashing success?
His foundation plundered, Elie Wiesel again rebuilds on ruins
Decade at Bernie’s

WEEK: 02/09--2/14
Madoff Whistleblower Harry Markopolos Tells Congress FDA Is Captured!
Bankers kept silent over Madoff fears
Investigator Details Bernie Madoff’s Relationship With Organized Crime
Madoff’s Wife Could Face Legal Trouble Attorneys Tell CBS
Does Ruth Madoff Need Her Own Lawyer?
Madoff Scandal Ensnares Order of Patron Saint for Moralists
Madoff Key Aide Recruited Her Neighbors as Investors
Donors want financial transparency for churches
Pursuer of Madoff blew a whistle for nine years
Imprisoned Felon Was Adviser to Madoff Investor
Another Madoff Investor Commits Suicide
Video: How Much Did Madoff Family Know?
Fragments From “Madoff! The Musical”
Understanding the Madoff Scandal
Madoff and blest credit
Web Abuzz With Madoff Sites Offering Info, Kitsch
More fraud possible, Madoff whistle-blower says
Let the whistle-blower run the SEC
Who Gets the Rest of Madoff's Money?
Madoff in Accord With SEC Ahead of Criminal Deadline
Madoff Claims Another Victim
Interview with Madoff client Ian Thiermann
Put your money into Madoff, bank urged wealthy clients
Lose money to Madoff? Don't cry to Uncle Sam.
Madoff's minions
Madoff's famous and sophisticated victims

WEEK: 02/02-02/07
Fairfield County 'ground zero' for Madoff scandal, victim list shows
Madoff Victim: "Bernie is Nobody's Friend"
Minn. economist: Madoff losses could cost state
Sharpton calls for justice outside Madoff’s home
SEC looks to reassure investors (Reuters) - Government
Bernard Madoff, the Mafia, and the Friends of Michael Milken
Savings lost to Madoff, elderly forced back to work
Treasury Has Overpaid $78B In TARP Transactions - Even better than Madoff
Madoff's Mark on Montana
Madoff victim: It all seemed legitimate
Those Closest To Madoff Got Burned Too
New SEC Chair Off and Running With Enforcement Measures
Madoff scandal affects prominent Seattle families
Madoff Marketer Met With UK’s Prince Charles, Markopolos Says
Bank Sent Clients’ Cash to Its Madoff Account
Did middleman know about Madoff losses beforehand?
Bulletproof Madoff
More famous names emerge among the thousands in Madoff client list
The Canadian link to Bernard Madoff is becoming clear
Madoff Marketer Met With UK’s Prince Charles, Markopolos Says
US law firm files Madoff class action in New York
Notable on Madoff List, Mets Say They’re Fine

Markopolos RIPS SEC - C-SPAN - part 1
Markopolos RIPS SEC - C-SPAN - part 2

SEC's failure to catch Madoff baffles panel
Greatest Sports Deal Undone ... By Madoff?
Lawmakers accuse SEC of hindering Madoff probe
SEC's Madoff Miss Fits Pattern Set With Pequot
How to Run a Financial Fraud
The Madoff fallout continues
Jewish foundations lost at least $2.3 billion with Madoff
Madoff exposes the real failings of the Jewish world
Man who warned about Bernard Madoff to testify
Madoff: The Broker of Greed and the Myth of the Pyramid
Reporter Arrested At Madoff’s Front Door
Inside Bernie Madoff's Offices
Expose Corrupt Courts: Dreier Bail Decision by Friday; Madoff ...
Harry Markopolos, Madoff Whistleblower, Feared for His Safety
Report: 3 Million Madoff Victims
Mich. Teens Say They Pranked Madoff
Petras: Bernard Madoff
U.S. court asked to halt Santander's Madoff payout
Madoff Liquidator Gets $535M In Brokerage Assets
Hedge Fund Sues Auditors Over Madoff Reports
Bernie Madoff bodyguard to quit
How Madoff's Ponzi scheme was unravelled
Bernard Madoff - Another Layer "of the Onion" is Peeled Away
Madoff investors getting bailout

Saturday, December 13, 2008

SPECIAL MADOFF

To February Headlines

WEEK: 01/25-01/31
Bulletproof Madoff
The Madoff files: Bernie's billions
Young Jeezy vs. Bernie Madoff
In Jail for Fraud, Inmate Claims Madoff Cheated Him
Madoff and America’s (poorer) Foundations
Madoff results were impossible to replicate
Psychologist profiles Madoff
JPMorgan Exited Madoff-Linked Funds Last Fall
JPMorgan Pulled Out Of Madoff Funds In Fall 2008: What Did They Know?
Madoff: SEC defends its role
Bernard Madoff paper trail leads to NYC warehouse
Is Bernard Madoff’s Wife an accessory to a crime?
SPIN METER: Congress missed SEC napping on Madoff
Live-Blogging the Senate’s Madoff Hearing
Madoff investors: Not so innocent after all
Santander Reimburses Clients Who Lost Money With Madoff
Bernie Madoff’s Gullible Investors and Guileless Regulators
Ignorance is not bliss
Many fruitless probes into Madoff
Trust-Fund Kids Strike Back at Madoff
Madoff in Manhattan
Zsa Zsa Gabor lost up to $10 million with Madoff
Madoff Associate Ordered by Court to Attend Interview
Signs Madoff’s Victims Are Flushed With Anger
Bayou Group Ponzi scheme case poses questions for Madoff investors
Is Madoff a psychopath?

WEEK: 01/19-01/24
Madoff Movie Takes On "Slumdog Millionaire"
The Talented Mr. Madoff
Moral of the Madoff scandal: Check out financial advisors
Larry King the Latest Big Loser in Bernie Madoff Scandal
US SEC needs complete overhaul after Madoff
Not Just Super Rich Getting Destroyed By “The Madoff
SEC Charges Missing Florida Fund Manager
Jews struggle to come to grips with Madoff
Millionaire widow cleans houses after losing Madoff investment
Madoff's trading fiction
Trustee Wants to Ditch Madoff’s Fleet of Luxury Autos
Madoff Shows Banks Must Become Whistleblowers
Exception Is Sought for Some Madoff Cash
Probers Work Backward on Madoff
Broker with ties to Madoff will miss 2d state hearing
The Latest in Madoff Madness: New York Judge Denies Plaintiffs
Paris prosecutors open probe into Madoff fraud
Madoff’s Nephew Forced To Sell Home
1992 Ponzi Case Missed Signals About Madoff
Madoff-hit Luxembourg funds halt redemptions
How did so many smart people fall for Bernard Madoff's Ponzi scheme?
Madoff case a boon for law firms
Readers outraged by Madoff scandal's damage
Madoff 'curse' dwarfs terrorist rockets for US Jews
Brazilians Lost ‘Millions’ in Madoff Funds
Madoff ties were never pursued
Wall Street Powerhouses Invested Alongside Madoff

WEEK: 01/11- 01/17

Bernie Madoff, Frat Brother
Madoff’s “How To Sell” Business Book!!!
Madoff's mother tangled with the feds
Cuomo Subpoenas Madoff Investor
Schapiro Pledges Vigilance as SEC Chief
Mo. employee retirement fund takes $3.5M hit from Madoff
Morgan Stanley, Citigroup Clients Said to Invest in Madoff Fund
Madoff Brokerage May Fetch No More Than $10 Million
Madoff-Swindled Kevin Bacon Admits 'I Need To Work'
Advice for Bernard Madoff - Gothamist
Man Plans Madoff Lawsuits
Madoff’s Fashion Statement: a Bullet-Proof Vest
Madoff Mayhem in the Intersection!
Madoff remains free as second judge rejects bid to jail him
’92 Ponzi Case Missed Signals About Madoff
But Is Madoff Not So Good for the Jews? Discuss Among Yourselves
HSBC, UBS May Be Liable on Madoff as Fund Custodians
A Madoff Cookbook Has a Secret, Too
Lawyers Seek to Keep Madoff Free
Spain: prosecutor probing Madoff fraud
Madoff Might Not Have Made Any Trades
Was Bernie Madoff a Mafia Front?
Planned Parenthood cuts staff after Madoff scandal causes funding loss
Biggest Listed Hedge Fund to Sue over Madoff Exposure
What Madoff could learn from Ponzi
Hedge Funds Post Record $350 Billion Loss in 2008 Amid Turmoil
Madoff Associate Fails to Make Massachusetts Hearing
Madoff and Mutual Funds
Cuomo Probing Charity Fraud Tied to Madoff Scandal
The Trouble With Bernie: Nine Ways to Avoid a Madoff When You Meet Him
Bernie Madoff's Victims: Why Some Have No Recourse
Will Someone Kill Bernie Madoff?
Madoff Sparks French Fund Lawsuit to Pry EU30 Million From UBS
Madoff’s Freedom Ignites Rage of Neighbors Who Want Him Jailed
Bernard Madoff avoids jail
Ruth Madoff’s Cookbook Got Shut Down for Trademark Infringement
Jail or penthouse? NY judge to rule on Madoff bail
Obama's SEC pick could face bumpy ride over Madoff
Madoff Apologizes to Neighbors for the Ultimate Co-Op Crime
Half of Madoff loss borne by foreigners
Madoff whistleblower wants to be left alone
Bernard Madoff - chaos still emerging
Ponzi's Original Swindle
"That union money is gone"
The real Madoff game
Madoff Gets One More Weekend Without Bars
“Hellishly hot” sauce dedicated to Bernard Madoff
Bernard Madoff pair among fraud victims
The Other McCain: Bernie Madoff, pro-lifer?
Brace for more Madoff scandals
Madoff 'had $173m in cheques in office'
New Timing on Madoff’s Confession
Report: Madoff's Sister Among Scammed Victims
'Victims' of Madoff Scandal Do Math, Realize They Profited

WEEK: 01/04- 01/10
Madoff Crony Ezra Merkin Resigns as GMAC Chairman
Here's Why Madoff Smiles
Madoff Crony Abruptly Resigns From Broward Arts Center
How Madoff Is Burning the SEC (SEC circa 1992)
Madoff Trail Leads to Washington
Madoff’s [Nantucket] island ties
Madoff Brother, at Arm's Length?
GMAC Chairman With Ties to Madoff Steps Down
Madoff affair 'needs Scots probe'
'Madoff-ed' best-selling writer back at work
Mackenzie Hedge Fund Loses Money With Madoff, Globe Says
New Timing on Madoff’s Confession
Where Has Bernie Madoff Buried His Loot?
When it Comes to Bernie Madoff, Congress is More ...
Madoff, the Most Trusted Name in Securities ...
Madoff Scandal Hits Labor Union Pension Funds
Marc Rich Among Those Facing Madoff Losses
Accused swindler Madoff "warm and charming": report
Prosecutors: Madoff tried to protect $300M
Another Day, Another Ponzi
Madoff scam seemed hard to miss
Three Cases of Madoff Anger Syndrome
The Harvard Crimson Grant Foundation Hit in Madoff Scheme
Debate rages over whether Madoff should be in jail
Madoff and me: 1 victim's story
Was Our Whole Economy One Giant Ponzi Scheme?
Madoff ties bring down a brash Viennese banker
'The Rabbi' who was pivotal in fundraising
Austria’s ‘Woman on Wall St.’ and Madoff
Harley International Fund Said to Have Invested With Madoff
Bernard Madoff investors may begin recovering funds in a month
Madoff Tried to Stave Off Firm's Crash
Madoff should be jailed - US
Madoff Received $250 Million Ten Days Before Firm's Crash
N.Y. Judge Restrains Merkin Funds In Madoff Lawsuit
Thousands of claim forms sent to Madoff customers
Welcome to Ponzi purgatory
Madoff Chasers Dug for Years, to No Avail
How Madoff suckered an expert on gullibility
How Did Madoff Fool the SEC?
Bernie Madoff Leaves Apartment, Headed To Bail Hearing (VIDEO)
Madoff scandal, SEC role under scrutiny
US Seeks to Imprison Madoff for $1 Million Transfer
Madoff Gets Break As Lawmakers Hammer SEC
Madoff Remains Free as Judge Considers Prison Request
Congress Demands SEC Speed Madoff Inquiry to Improve Oversight
Prosecutors Want Madoff’s Bail Revoked
Madoff's Sons Told U.S. Prosecutors About Transfer of Jewelry, Lawyer Says
SEC Watchdog to be Questioned about Madoff Scandal
Regulators Said to Probe Madoff Eight Times Over 16 Years
SEC watchdog to be questioned about Madoff scandal
Journal Finds More Regulatory Failures on Madoff : CJR
We are all Madoff investors
Wall Street ‘red light’ on Madoff
How Palm Beach's ultrarich are recovering from the financial scandal
Madoff 's Victims Unlikely To Recover Much Money
SEC watchdog to be questioned about Madoff scandal
Madoff probed by regulators at least 8 times: WSJ
SEC Must ‘Defend Its Existence’ After Madoff Lapses
BALTIMORE PENSIONS Baltimore pensions lose $3.5M in Madoff fund
Madoff Crimes Hurt ACLU and Other Groups
Madoff Paraphernalia, of All Sorts, Landing on eBay

WEEK: 12/29- 01/03

Madoff crony charged with bilking house-cleaner of $124,000 life savings
Why We Keep Falling for Financial Scams
SPIC: $500,000 to each Madoff victim
Metro Views: Madoff and the 'miraculous dollar'
How to Avoid Getting Burned by the Next Bernard Madoff
Madoff Investor’s Suicide Was an ‘Act of Honor,’ Brother Says
NY business sues Madoff to get back $10 million
Madoff Exposed Investors' Weak Spots
The End of the Financial World as We Know It (related)
The Jewish federation in Tornoto lost $500000 in Madoff scheme
The time is right for Madoff: The Movie
Austria Says It's Taking Control Of Bank Medici After Madoff Hit
Madoff Accepted $10 Million From Investor 6 Days Before Arrest
Madoff’s Asset List Won’t Be Made Public, US Regulator Says
Madoff Investor’s Suicide Leaves Questions
Madoff Investors’ Lawyers Investigate Role of Connecticut Bank
Madoff gives SEC list of his assets
Madoff's assets to be kept secret
How much money does Madoff really have?
Madoff lists assets for SEC; agency mum on details
What if Bush Pardoned Bernie Madoff?
Tremont Sued by Investors Over Losses to Madoff ‘Ponzi Scheme’
Austria Weighs Overseer for Bank in Madoff Case
Thieves return Madoff statue, with note attached
Montana Investors Lost $18 Million With Madoff, Regulator Says
In Ironic Twist, Taxpayers ...
Madoff and me
Thanks To AIG, Taxpayers May Be On The Hook For Madoff Losses

SEC Halts $23 Million Ponzi Scheme Targeting Haitians

SEC inaction that helped fuel scheme

What Happened To Madoff's Money?

Latest developments of the Madoff case, with CNBC's Mary Thompson
Latest Madoff Victim: You
Judge approves release of Madoff assets
Madoff Sued by Three New York Investors Over Fraud, Payments
Kyra and Kevin Victims of Madoff Investment Scandal
Charities Wiped Out By Madoff Mess
Yeshiva’s Madoff Losses Based on ‘Fictitious’ Profits
Madoff Spotlight Turns to Role of Offshore Funds
Mary Schapiro & Madoff family ties - map
Madoff attorneys explore insanity defense
If You’re So Smart, Why Aren’t You Rich?

Blog Runner special Madoff page (tons of articles)

In Palm Beach, tt was an honor having Bernard Madoff handle your fortune. Yesterday Madoff was arrested and accused of running what probably will prove the greatest Ponzi scheme in the history of the world. Dec 12, 2008

Bernie Madoff Comes Out of the Closet
by: SA Editors December 12, 2008

Madoff Case: The World's Biggest Ever Heist
Felix Salmon December 12, 2008

Wall Street's Latest Downfall: Madoff Charged with Fraud
December 12, 2008

Specifically, we're hearing that the smart money KNEW Bernie had to be cheating, because the returns he was generating were impossibly good. Many Wall Streeters suspected the wrong rigged game, though: They thought it was insider trading, not a Ponzi scheme. And here's the best part: That's why they invested with him. Dec 12, 2008

http://www.madoff.com/
COURT PAPERS
http://online.wsj.com/public/resources/documents/madoff.pdf

How Can You Spot A Wall Street Crook?
December 12, 2008

$50 billion at stake after Wall St broker Bernard Madoff is arrested over ‘world’s biggest swindle’: December 13, 2008

Lessons For Madoff Investors From The Bayou Fund Ponzi Scheme
Dec 12, 2008

Madoff case to rock already shaky hedge funds
2008-12-14

Geneva banks lost more than $4 bln to Madoff-paper
Sat Dec 13, 2008

SEC got tips about Madoff several years ago
December 13th

Is Bernie Madoff Jewish? Very. Oy.
December 12, 2008
http://www.jewishjournal.com/

Investor Furor Over '$50B Scam'
December 13, 2008

Thursday, July 17, 2008

SPECIAL FANNIE MAE-FREDDIE MAC (7/11-18)

Top funds may have lost $4 billion on Freddie, Fannie this week
Fannie and Freddie in danger
U.S. Weighs Takeover of Two Mortgage Giants
Worst Fears Ease, for Now, on Mortgage Giants’ Fate
Fannie, Freddie insolvent, Poole tells Bloomberg
We're All Homeowners: Nationalization of Fannie, Freddie Unavoidable
Fannie Mae, Freddie Mac and a nightmare on Wall Street
Fannie and Freddie - Indeed, Too Big To Fail
Who's to Blame for the Current Economic Situation?
Paulson Seeks Authority to Shore Up Fannie, Freddie
The True Hollywood Story of Fannie Mae and Freddie Mac
Fed launches rescue plan for stricken mortgage firms
Operation "Rescue Fannie" Underway - Paulson a Blatant Liar
Long Protected by Washington, Fannie and Freddie Ballooned
Marc Faber: Bernanke, Fed a 'Joke'
Top funds may have lost $4 billion on Freddie, Fannie this week
The Fannie and Freddie doomsday scenario
Fed says Fannie and Freddie are the last to get bailed out
Fannie and Freddie: A Run on the Bank?
Fannie, Freddie, Fascist
Freddie, Fannie, and Curses on FDR
Fannie, Freddie May Need to Lose $77 Billion First
Treasury statement on Fannie and Freddie
A New American Reality: Government As Provider
Freddie Mac and Fannie Mae future may rest with US Treasury
Time to Let Fannie and Freddie Wither?
Fannie Plan a `Disaster' to Rogers; Goldman Says Sell
Obama Says U.S. May Not Take Any Action to Aid Fannie, Freddie
The 'Canary in the Coalmine' for Fannie, Freddie
Fannie & Freddie: Myth vs. Reality, Part 2
Fannie, Freddie and You
The Saga of Fannie and Freddie
Japan's Freddie, Fannie exposure totals $56 billion
VIDEO Rogers: Fannie and Freddie - let the patient pass away
How Fannie, Freddie Became Kings Of The Hill
Why the central bank is real winner of Fannie Mae/Freddie Mac woes
Opposition, From Both Parties, Over Bailout Plan
Bailout of Fannie and Freddie fails to calm nerves
Fannie And Freddie Are Fine, Bernanke Says
Finish the Companies Off Fannie, Freddie troubles ominous for Asia
Investors Flee
Fannie, Freddie spent $200M to buy influence
Fannie Mae and Freddie Mac every year are required to meet affordable housing goals
Naked Short Sellers Attack Fannie Mae!
Will Fannie and Freddie Go to Zero?
American Dream turns to nightmare
And now, for Fannie and Freddie

Friday, June 27, 2008

Thinking about flip-flops By Fred Cederholm

Column for on/after June 22nd

I’ve been thinking about flip-flops. Actually I’ve been thinking about the 55 words of the Miranda warning, Election 2008, the candidates, being silent, the court of public opinion, attorney(s), and the government picking up the tab. The 1963 court case of Miranda vs. Arizona ultimately gave rise to the ever-pervasive Miranda warning which advises individuals who are being arrested of their rights. Those 55 words so often pop up in the TV dramas that the American public has committed them to memory.

You see as the Election 2008 Presidential Campaign continues to unwind; it also appears that the reading of these rights should be done to our political candidates as well. This is shaping up to be a particularly aggressive slug fest. In the 2004 election, “flip-flops” entered our lexicon as a derogatory assessment of what a candidate was doing. They said one thing, made promises, and divulged strategies only to change their minds and recant on the earlier positions. This is nothing new! The advent of the internet and proliferation of web blogs, chat rooms, and netizen monitoring has picked up the slack in news coverage and analysis by the traditional media forums. It is harder and harder to deny statements, positions, and policy declarations when clips of them are so readily available (in perpetuity) on the net.

In recent weeks I’ve noted an escalation in blog commentaries, pseudo news stories, and emails which are trashing one presidential candidate --- or the other: 100 reasons to NOT vote for…, “X” plans to greatly increase taxes and oppressive government regulation, “Y” has sold out to special interests and will sell out the country, the “wars” in Afghanistan or Iraq) will be abruptly ended (OR continue indefinitely) to the detriment of our entire way of life. Even if completely fabricated and untrue, once out there; a candidate must commit valuable time and resources to counter, deny, or refute such points.

Whoever “wins” the November election, effectively “loses!” The victor faces diplomatic, military, economic, financial, energy, social, AND philosophical powder kegs – any one of which could prove devastating to our system(s). There are NO simple, quick, and painless fixes. We need REAL leadership, but there will be a REAL temptation to resort to the security of the points of the Miranda warning.

You have the right to remain silent: What candidate has ever NOT regretted saying “something?” Even if a comment (or word choice) was sincerely and innocently made, there is safety in resorting only to clichés, platitudes, and “pabulum.” We’ve already experienced “great” rhetoric --- saying nothing!

Anything you say can and will be used against you in a court of law: Here the court of public opinion of the electorate will be the jury come November. Despite careful vetting of words, policies, and statements geared to appeal to the respective core party bases; mistakes will be made. These will require costly backtracking and/ or damage control - thus keeping the candidates from being honest and forthright with US/us. This does a major disservice to the electorate and we deserve far better than this.

You have the right to speak to an attorney, and to have an attorney present during any questioning: What candidate does NOT already have an army of attorneys, pollsters, political consultants, or spinmeisters? These were all “needed” to get the current party frontrunners to the point where they (in theory) have sewed up their respective nominations BEFORE their party’s conventions. One wonders if the messages being hawked (or planned to be hawked) are truly those of the candidates, or they are the consensus of respective campaign teams as to what the public wants to hear, are essential in firing up the party base, and are ultimately essential to winning the November Election?

If you cannot afford a lawyer, one will be provided for you at government expense: If the candidate’s team does NOT feel they can raise the necessary bucks from the party faithful, the lobbyists, the PACs, and the special interests; they can agree to abide by the constraints of accepting Federal Election Monies and suck in Uncle $ugar’s cash. This will effectively limit their final run for the White House to $100 MILLION per major party. Upwards to a HALF a BILLION was spent on the primaries!

I hope and pray the 2008 candidates don’t resort to the confines and protections of the Miranda warning. This would be a disservice to the functioning of a real horserace election. A campaign limited to “muted” debates and silent posters featuring perfect hair, pearly smiles, and postcard families; just isn’t going to cut it. I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.

Wednesday, June 18, 2008

Thinking about installments By Fred Cederholm

Column for on/after June 15th

I’ve been thinking about installments. Actually I’ve been thinking about the housing bubble, property taxes, pecking orders, escrow payments, deficits, and cash flow. The housing bubble continues to pass its gas. While this is a huge problem that refuses to go away and continues to grow in magnitude, the stories on page one and newscasts have devoted little if any time, space, and ink to it. Fuel prices, food prices, election 2008 and “the flood” of natural disasters; have pushed it to the back burner.

You see last Friday the first installment of our property tax bills for Calendar 2007 billings came due for those of us in Ogle County, Illinois. This was particularly fitting that this time it fell on Friday the 13th. In my case, the two RE tax payments are the hands-down largest checks I write every year. The insurance premiums on my home, auto, and life policies are in distant third, fourth, and fifth place. I suspect this order of magnitude ranking is also true for a great many American households.

It will be interesting to see a few weeks down the road how many households were late (or delinquent) in meeting this critical deadline. While there might be a press release detailing the parcels which failed to get the first installment paid, it is more common to publicize the specific delinquencies about a month or so after the second installment comes due and was not paid. This usually precedes the “tax sales” publicized by the county officials responsible for the collection of the real estate taxes. The dates of these events vary from county to county - and from state to state. Still… the system of “selling” the unpaid taxes to third parties will occur on a prescribed timetable everywhere across America.

Amounts owed to the respective property tax collectors stand in the FIRST position of the pecking order of who gets their money when a homeowner falls behind in their payments. Virtually every local and regional governmental (and quasi-governmental) entity depends upon the proceeds from real estate tax revenues to underwrite the lion’s share of their expenses, salaries, and pensions. These include the county, township, and municipal governments; and the school, fire, library, and park districts as well.

Late payment or non-payment of these taxes could prove costly for the property “owners.” At the very least, there will be fines and penalties accessed. If the unpaid balances are “auctioned” off to third party investors, these investors are entitled to rates of interest that far exceed the going rates paid elsewhere right now. Annualized rates of 10%, 12%, 14%, or more are not uncommon. After a varying prescribed period of time - should the property “owner” not make full restitution for the taxes, penalties, AND interest – the third party investor could take full title to the property.

Most property occupants make supplemental monthly payments to the holders of their mortgages for the payment of the respective property taxes. These are held in escrow and tendered to the RE tax collectors by the “lenders” when the installments come due. If the mortgage escrow payments are not being made timely by the borrowers, the lenders must advance their own money to cover the taxes to “perfect” or secure their liens on the properties. Or… they simply do not make the payments on behalf of the occupants. I would suspect that since arrears in mortgage payments are escalating to record levels on a month by month basis, escrow payments are growing increasingly in arrears as well.

I would be hard pressed to cite ONE local (or regional) governmental or quasi-governmental entity that isn’t facing deficits, budgetary mismatches, and/ or cash flow problems now. Costs of this past winter far exceeded estimates/ projections. Current costs of fueling their fleets of vehicles are thru the roof. Since most of these entities have June 30th year ends, the public will not be made fully aware of these deficiencies and deficits until financial statements are made public sometime later this Summer, or Fall. These entities are counting on the RE tax proceeds right now!

Even if your household is lucky enough to be mortgage free, you are still “renting” from the local taxing bodies which appear as line items on your real estate tax bill. If you don’t believe me, just try NOT paying your property tax bills for a couple taxing cycles and see how long you are allowed to stay in your “own/ owned” home. I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.

Wednesday, June 11, 2008

Thinking about running mates By Fred Cederholm

Column for on/after June 8th

I’ve been thinking about running mates. Actually I’ve been thinking about Campaign 2008, strategies, Vice Presidents, Lieutenant Governors, and “term” life insurance. The election/ selection process for Campaign 2008 is entering the next phase before the national party nominating conventions are held later this summer and the really hard-core campaigning begins in earnest before the November elections. We the People… pretty much know who will head the two major party tickets at this point, but who will run as the candidates for the Veep position is still a huge unknown.

You see the position of the Vice President is hardly the deciding factor in why voters cast their ballots for this nation’s chief executive. Still… the position is very important in that this is the individual who is literally a “heartbeat” away from the Oval Office in the event that the President (for whatever reason) cannot complete their term of office. Despite all of the lobbying and arm twisting from special interests and party poobahs, the final decision rests with the person at the top of the ticket. This is as it should be. It must be noted that initially in our history, the Veep was the person who came in second.

Strategies and political maneuvering do enter into the choice for positive (and negative) reasons. It should be important that the choice is an individual (who if the unTH*NKable occurs) can effectively function as the nation’s chief executive. That has not always been true. Vice Presidential running mates are sometimes selected to achieve geographical, philosophical, and political balance. This is done to garner “wider” appeal for the ticket with the general electorate, to placate special interests within the party, and even to stroke the ego/ personalities of the candidate running for President. The Veep choices maybe be made to complement the strengths of the lead candidate, or they may even be made to focus the jokes and the criticism away from the Chief executive once they are elected. We’ve seen all of this.

In my adult lifetime, there have been Vice Presidents who were eminently qualified, while there have been others who have proven to be “real pieces of work.” Really strong candidates/ personalities for the Oval Office (who felt confident of their election because of the “legacies” of their immediate predecessors) tended to pick running mates who left the voting public asking: “WHY?” When Nixon selected Agnew in 1968, the headlines ran: “What is a Spiro Agnew?” This choice proved very strategic because in the aftermath of Watergate, Nixon was secure in his tenure as the President ONLY as long as Agnew remained as the Vice President. All bets were off once Spiro was ousted, Nixon was forced to resign, and the replacement Veep Jerry Ford ultimately assumed the Presidency. Some twenty years later the electorate saw headlines: “What is a Dan Quayle?” Quayle took the brunt of the jokes and frivolous criticism. Papa Bush finished his first administration, but the team was not re-elected for a second term.

Presumed democratic candidate Barack Obama is now under a great deal of pressure to choose Mrs. Clinton as his running mate. There are strong historical precedents for this; and, in essence, this “kind of” follows in the founding fathers’ original method whereby the “second” vote-getter receives the nod. I don’t see this happening as the pre-convention campaign was too bitterly fought between the two. Despite all of the major in-party arm twisting; concerns of a troika (three horse driven vehicle) with an Obama, Clinton, AND Clinton co-presidency should more than sway Obama away from that choice.

In Illinois, we have seen similar “political” posturing in the selection of our Lieutenant Governor. There are common threads with some different twists. Corrine Wood proved to a “term” life insurance policy for former Governor Ryan. She was eminently qualified to be Lieutenant Governor and to replace the Governor - having a long history of Illinois elected office. She was a hard nosed politico who had stepped on a lot of toes over the years and made a lot of foes in the process. Despite the corruption and scandals surrounding George Ryan, the legislature left him to finish his term - in-part to preclude making Wood the Illinois Governor. George Ryan was tried, convicted, and sentenced to the slammer; AFTER he left office. Corrine Wood was denied the governorship in the process.

We in Illinois are now again enduring letting the clock run out for a highly controversial (and very negatively perceived) Governor. Rod Blagojevic can actually be said to make George Ryan look like an effective chief executive who does proud for the citizens of Illinois! His understudy, the Lieutenant Governor Pat Quinn, had an almost “Dan Quayle laughableness” to him when he came into his office. Yet in his six years tenure; he has literally remade his image and the do-nothing perception of the Office of Lieutenant Governor. I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.

asklet@rochelle.net

Thursday, June 05, 2008

Thinking about respect And semantics By Fred Cederholm

Column for on/after June 1st

I’ve been thinking about semantics. Actually I’ve been thinking about books, hypothetical contingencies, our financial messes, election 2008, and USA - the United Spinning(s) of America. Semantics are word games. Semantics involve choosing/ using “loaded words and phrases” to bias opinions in favor of your agenda, your objective, and your side. In the alternative, careful word choices undercut your opponent’s position, strategy, and objectives. Accentuate the positive(s) and mitigate the negative(s) are first and foremost the game plan in economics, finance, marketing, and politics!

You see the forthcoming “tell-all” by former Presidential Press Secretary, Scott McClellan, that the American Public was mislead to war in Iraq by the Bush Administration and that the American Press/ media dropped the ball in the reporting of the events/ justifications leading up to the invasion on March 19th, 2003 got a great deal of media brouhaha last week. The snips and snibbets leaked during the book’s pre-release condemning the Administration (and the media) for the “non-truths” divulge nothing new. (McClellan doesn’t use the word “lies” behind the justifications for war or outing of Valerie Plame by Veep Chief of Staff Libby.) Most of US/us already “knew” or at least suspected as much. No smoking guns are revealed here. If there were… we’d have heard about them! The White House and the “speaking” friends have been amazingly silent in their direct denials – choosing rather to discredit the book as merely the disgruntled musings of a frustrated former employee seeking to cash in on his Executive Branch tenure. This also is nothing new. Truth, or true “reality,” lies somewhere in between.

Famed prosecutor and New York Times best selling author of Helter Skelter (the Tate- LaBianca murders by the Charles Manson cult), Vincent Bugliosi, has only just penned a “fictional” work – The Prosecution of George W. Bush for Murder. The McClellan book’s premises/ speculations pale in comparison to the implications of this Bugliosi work. While pre-distribution/ marketing presents “Prosecution” as a tight, meticulously researched legal case putting George W. Bush on trial in an American courtroom for the murder of nearly 4,000 American soldiers fighting in Iraq, there is already festering speculation abroad that future actions could be brought against Bush, Cheney, Powell, Rice, and/or Rumsfeld in ex-patriot jurisdictions for atrocities of war and crimes against humanity. While such may have been ultimate the fate of Noriega, Pinochet, Saddam, and Hussein’s co-horts; any extradition of Bush poobahs to face the music at some international tribunal just isn’t going to happen – trust me!

There will undoubtedly be more leaked disclosures of concerted “non-truth” telling justifying the war. I’m certain there were “good” reasons for this war, we just haven’t been made privy to them. It is not the rich, the well-born, and the powerful who pay the price of major conflicts with their blood, their injuries, their sacrifices, and their deaths. Wars for economic benefit of corporations, financial moguls, or vested interests just “don’t play well in Peoria” – you need to fire up the patriotism and the intangible beliefs of the masses to garner the necessary support as the casus belli – the justification for acts of war. The post-election Congress will undoubtedly convene more hearing investigations “to put the matter to rest” (as in bury it for a generation or more). There will be the obligatory: “Mr./Miss/Ms… what did the President know, and when did he know it?” Like Watergate of some 30 years ago, not much will come of the costly Congressional hearings, and not much will really change – cynical yes, but ultimately true.

The public was not only left out of the loop regarding the real justifications for war, we are still being kept in the dark regarding the severity and duration of our looming financial messes. Things are far from well in Mudville. Uncle $ugar is stepping up to the plate like the mighty Casey to turn the game around, but despite the $70+ plus BILLION “invested” in the US by foreign sovereign wealth funds since last August and a MUCH larger amount of freshly printed bail-out bucks from the FED; things are NOT improving. We the people… don’t as yet have a clue what will be the ultimate costs in write-offs/ write-downs for ALL that looming exposure out there. Those who might be in the know, aren’t talking.

This week should finalize the Democans and Republicrats candidates for this Presidential run in 2008. Will they fess up to the American public in their campaign messages of “change” and “straight talk” with truthful and honest disclosures of where we are, and where “they” plan to take US/us in their administrations? After all… there is tradition at stake, the USA prevails - the United Spinning(s) of America is as American as apple pie. I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.

Author’s Note: I didn’t circulate last week’s column TH*NK*NG (RESPECT) because at the time it seemed too local in focus. Plus… I didn’t have access to email for almost 4 days while my ISP service provider did a MAJOR system’s upgrade and conversion. Still… there are points made in that one which take on special meaning in light of this week’s TH*NK*NG (SEMANTICS).

Column for on/after May 26th

I’ve been thinking about respect. Actually I’ve been thinking about the Memorial Day 2008 observances, Woodlawn Cemetery, the St. Johns Program, Richard Erickson, small town patriotism, and the 1 plus percent. Memorial Day is observed on the last Monday in May. It began to honor the soldiers who died in the American Civil War, and after World War I - “the war to end all wars.” It was expanded to include those who died in any war or military action as well as honoring living veterans. In the widest context, it provides an opportunity to honor anyone who is no longer with us.

You see my hometown - the little Village of Creston - like many thousands of small communities across this land make special observances on Memorial Day. Local businessman, Lyle Headon, a US Marine and Vietnam War Veteran coordinates the ceremonies and program which this year occurred at both Creston’s Woodlawn Cemetery and St John’s Lutheran Church. Woodlawn is a beautifully pastoral setting about a mile North of Creston. There is a meandering stream on two sides. Just to the North is Brody’s Grove where the original settlement was located before the railroad came thru and the village of “Dement” relocated to a “crest of a hill” along the iron horse tracks becoming Creston (nee Crest-town).

It has been a Creston tradition to gather at the cemetery to pay respects to those who have served this nation in the military in both times of war and in times of peace. Every year there is a roll call of names of all the departed veterans interred there. Woodlawn is the final resting place for veterans from the War of 1812, the America Civil War, the Spanish American War, World War I, Word War II, Korea, and Vietnam. Each veteran’s grave displays the appropriate bronze flag holder (for their service) and an American flag. Normally, weather permitting, there were patriotic songs, a special speaker, taps, and a bagpipe medley before a fellowship meal was shared by the participants at the cemetery. This year most of the program, and the common meal occurred in town at St. Johns Church.

The 2008 keynote speaker was Richard Erickson (US Army Reserves) who has only just recently completed his second tour of duty in Iraq. Richard is a quiet, soft spoken man of few words; but in his presentation, he so eloquently shared thoughts on an experience that will forever be a part of his life experience (and now ours). He looked upon his action as both a duty and a responsibility requiring sacrifices and support beyond his own person. He drew upon his family, his community, his faith, and his friends. He singled out his brother John, Leslie (John’s wife) and his mother Donna, for taking care of his two teen age children during his 23 month absence for special thanks. And…he thanked the audience of friends and neighbors for their letters, packages, and prayers. He was SO glad to be home!

In describing the ongoing conflict over there, Richard made a distinction that is so often missed in the discussions about both Iraq and Afghanistan. This is “a war,” but it is a war without distinct borders, without distinct sovereign players, without distinct ethnicities, or even distinct nationalities. (Richard’s words.) So often you just don’t know who is a friend, or a foe, until the shooting begins. These are very important components because without distinctly definable players, it is almost impossible to define success, failure, or achieve a conclusion. It is a warfare of “-ISMs” - (Fred’s words, not Richard’s.) The 150, or so, attendees hung on his every word, and were all deeply moved. The same was true for oldest attending veteran’s (Carl Hill) presentation about the “Spirit of Creston” which followed Richard’s.

In the conversations across many of the tables during the communal meal held in the Church’s fellowship hall, a primary focus remained about our ongoing presence in Iraq and Afghanistan. This is very understandable given that literally everyone in this little Northern Illinois community of under 600 has at least one family member, friend, and/ or loved one (or more) presently serving in Afghanistan, or Iraq, (or has one in training and soon to be deployed there). There is Jason (1), Greg, Jason (2), Ann, Kevin, and Derek already over there. Adam is in training at Camp Pendleton, and Charlie is in training at Fort Benning. I should point out that these are ONLY the names of those who are aged 24 and younger! This alone equates to well over 1% of our total local population (of all ages). Please TH*NK about the implications of THAT for a moment!!!

For us in this small rural community in America’s Heartland each name equates to a face with a family – all of whom we know and love. We are the “Land of the Free, Because of the Brave.” Please remember these young people (and their families) in your Memorial Day thoughts and prayers. I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.

Friday, May 23, 2008

Thinking about contractions By Fred Cederholm

Column for on/after MAY 18th, 2008

I’ve been thinking about contractions. Actually I’ve been thinking about the Summer 2008 driving season, recessions, the March 2008 trade numbers, our trade deficits, our energy deficits, and worldwide gas prices at the pump. Official numbers for our trade deficits, the cumulative trade deficit(s) for the calendar year thus far, our energy import sources, and the “at the pump pricing” for gasoline around the world for this past March were released last week. The results and implications for US/us were actually quite surprising - at least they were not what I had expected.

You see the Summer of 2008 driving season usually kicks off on this coming Memorial Day weekend. Like everyone else I am already shelling out more per week to fuel up my vehicle(s) and am re-allocating expenditures on convenience (and junk) food, eating out, summer apparel, and anything else I don’t absolutely need to buy. I’ve never been a “power shopper” and only frequent the Malls/ retailers when I am pretty much buying gifts for others. From recent conversations, this is becoming common. The definition of recessions is based upon a contraction in spending and consumption. Recent stats for many large retailers showed contraction(s) in 2008’s first quarter.

Our eight largest trade deficits for the month of March 2008 (and 2008 Year to Date) are as follows: China $16.072 Billion ($54.745 Billion YTD), Japan $7.490 Billion ($20.959 Billion YTD), Canada $6.483 Billion, ($18.798 Billion YTD), Mexico $5.974 Billion ($16.613 Billion YTD), Germany $4.483 Billion ($10.802 Billion YTD), Nigeria $3.283 Billion ($9.580 Billion YTD), Venezuela $2.754 Billion ($8.773 Billion YTD), and Saudi Arabia $2.697 Billion ($9.584 Billion YTD), Our hands-down overall biggest dollar denominated imports are for crude oil and petroleum distillates. While dollar values for energy suppliers rose, trade deficits with the others tended to decrease slightly. The March 2008 energy imports (in barrels) were mostly down from a year ago.

The top eight sources of Uncle $ugar’s crude oil imports for March 2008 were: Canada (1.727 Million barrels per DAY--MBPD) down 3%, Saudi Arabia (1.535 MBPD) up 26%, Mexico (1.232 MBPD) down 24%, Nigeria (1.138 MBPD) down 12%, Venezuela (0.858 MBPD) down 17%, Iraq (0.773 MBPD) up 48%, Angola (0.375 MBPD) down 46%, and Algeria (0.232 MBPD) down 54%. Uncle $ugar’s top eight sources of total petroleum imports for March 2008 were: Canada (2.303 MILLION barrels per DAY--MBPD) down .1%, Saudi Arabia (1.542 MBPD) up 24%, Mexico (1.351 MBPD) down 23%, Nigeria (1.158 MBPD) down 14%, Venezuela (1.015 MBPD) down 21% , Iraq (0.773 MBPD) up 48%, Algeria (0.427 MBPD) down 41%, and Russia (0.394 MBPD) down 13%. Crude imports averaged 9.385 MBPD at a March import average price per barrel of crude oil (@ $89.85) was a record. It is important to note that last Friday’s crude pricing reflected an all-time high of over $ 127 per barrel. While consumption may be contracting, the escalating per barrel price will negatively skew the trade deficit figures for April and May when they later become available.

“Pump” prices now hover nationwide at the $4.00 range. US/us are not used to this… and we collectively feel grossly ripped off – we shouldn’t! The worldwide March “at the pump” prices rank the USA (@ $3.45/gallon in March) in the 108th position globally. Gas prices (in dollars per gallon equivalents) then were $9.58 in Eritea, $ 8.73 in Norway, $8.38 in the UK, $ 8.37 in the Netherlands, $8.31 in Monaco, $8.28 in Iceland, $8.22 in Belgium, $8.07 in France, $7.86 in Germany, and $7.84 in Portugal. Working from the lowest worldwide pricing, ranks the US in the 44th position from the bottom. Venezuela was the cheapest at 12 cents per gallon, Iran followed at 40 cents, Saudi Arabia was at 45 cents, Libya was at 50 cents, and Swaziland was at 54 cents. Don’t you wish you could “fill up” in Caracas??? I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.

Saturday, May 17, 2008

World Food Crisis (non partisan explanation)

(04/08-10) OTC: $100 trillion needed to rebuild energy infrastructure | Feud: Oil in the Family | Peak Oil Doomsters debunked, end of civilization called off

(05/05-07) The End of Cheap Food | Level Two - Save Consumables | White House says farm bill cost still too high - $300bn | A Slap at Schoolchildren - Farm Bill | Bankrupt policies, empty stomachs | VIDEO: Bush Addresses 'Global Food Crisis' , Calls for $1 billion for 'global food | With food costs rising, ethanol benefits now questioned | Are We Running Out of Food?

(05/01-04) Amid mounting food crisis, governments fear revolution of the hungry | World Bank tackles food emergency | Biofuels under fire | Next bubble: Food | The new bogeyman: Worldwide hunger and biofuels | Agricultural corporations boast huge profits in midst of food crisis | Ethanol Policy Raises Food Prices | Ethanolics Anonymous | Global Famine | UN Urges Biofuel Investment Halt | A Perfect Storm of Stupidity (Food vs. Fuel)

(04/27-30) Big Corn and Ethanol Hoax | Ethanol part of food crisis, says Durbin | Deadly Greed: The Role of Speculators in the Global Food Crisis | Ethanol: It Looks Cheaper, But Looks Can Be Deceiving | The Real Cost of Tackling Climate Change | Wall Street Grain Hoarding Brings Farmers Near Ruin, Losses to Food Makers | US secretary concedes biofuels may spur food price rises | Let them eat ethanol? | The Biofuels Disaster Must End | The Lords of Capital Decree Mass Death by Starvation

(04/24-26) Biofuel Madness: Environmentalism exploited for political purposes | Soaring food prices due to demand, not investor speculation | The Washington food crisis consensus | Financial speculators reap profits from global hunger | Funding the food price fiasco | Bankrupt policies, empty stomachs Food Crisis Eclipsing Climate Change| The Political Economics of Greenwashing | Wheat Crop Failures Could be Total, Experts Warn | Hunger stalks millions of poor Americans | Food Riots 'Going to be More Commonplace' | Global Food Prices and Africa's Economic Famine

(04/21-23) Bryce on the Ethanol Explosion | Leaders warn on biofuels and food | Gore's Alarmism Failing: Concern for Global Warming Same as 19 Years Ago! | Biofuels Under Fire at International Energy Forum | Food Rationing Confronts Breadbasket of the World | How The Rich Starved The World Food rationing in the U.S.? | Food protectionism could provoke a crisis on a par with 1970s oil shocks | Bio-Foolishness | Biofuels: Who bears the cost? | Our climate numbers are a big old mess | Where's the food? | Fox news reports food rationing at Costco and Sams | Ethanol Kills Wildlife - People only starved

(04/13-16) North Korea 'faces food crisis' | Prices soaring as biggest grain exporters halt foreign sales | Why has the Global Food Crisis reached Emergency Proportions? | France’s answer to global food crisis is EU protectionism | EU defends biofuel goals amid food crises | Economic Pain Of Carbon Cuts Will Be Global | Global warming: The hidden assumption |

(04/10-12) Grains Gone Wild | World Bank Climate Profiteering | FAO chief warns of food riots, calls global meet on food security | A foolish overreaction to climate change | Nations make secret deals over grain | THe REAL invonvenient truth, Zealotry over Warming Could Damage Earth More than Climate Change | Is A Food Riot Coming To YOUR Neighborhood? | Gore Admits Financial 'Stake' In Advancing Global Warming Hysteria | Global Famine Upon Us | Two carbon-market millionaires take a hit as UN clamps down | Our global warming rage lets global hunger grow

more
http://www.moneyfiles.org/elites08.html
or
http://www.un-debt.net/elites08.html

Thursday, May 15, 2008

The Rich: How They Operate and Glossary By James Jaeger

Glossary of Cultural & Eco/Political Terms by James Jaeger
http://www.mecfilms.com/universe/articles/glossary.htm

Read a book called EMPIRE OF DEBT. Bonner makes the case that the only people that win in the stockmarket are insiders. He defines insiders as broker-dealers, big players and people that make their money off related stock market industries, similar to the people that sold picks and shovels to the gold miners. Also if you look at where rich, middle class and poor people hold their assets, only the rich hold a substantial portion of their assets in stocks and bonds. Only the middle class holds as large of a percentage of their assets in real estate as the rich hold in stocks/bonds. The poor, of course, hold neither asset, stock/bond or real estate for the most part.

For me, the moral of the above observation is this: if you aren't rich, don't try to play a rich man's game ... you will just become food for the rich. And this is exactly what has happened since mutual funds have enticed the middle class (even some poor) into the stock market since the early 1980s. All these people were slaughtered by the last debacle ended around 2002.

I predict the new allure is the "international market." 'Middle class suckers, come play the new INTERNATIONAL MARKET -- its better than just a mutual fund,' is the call. So Tharsaile, don't get suckered in. The reason the group you are occasioning is called DIEHARD.COM is because these "diehard" suckers refuse to acknowledge the game they're in. They desperately want to be rich, so they figure that by playing a rich man's game they will eventually BECOME rich. Wrong. The way to get rich is to:

A. Buy real estate for the rest of your life and continue to improve it and rent it, never selling anything;

B. Using equity and bank debt start some sort of business that provides a product or service that is, or goes into, great demand. Go public with the business or sell the business as an exit strategy.

C. Never drink alcohol or use drugs; work on your education, ethics and generosity constantly.

THEN when you are rich, dump these earnings into stocks and bonds where you only care basically about preservation of capital, i.e., growth rate of 5 to 10 percent.

I realize what the long-term growth rate of the stock market has been, but when you temper this with the fact that the dollar has lost over 95% of its purchasing power since the inception of the Federal Reserve System, the long term appreciation basically preserves capital and provides a slow, but granted, EXPONENTIAL growth.

Remember: the rich don't CARE about making money.

They only CARE about NOT LOSING money. I know it's difficult to understand this if you are young, dumb and hard-on bent for 20 to 30 percent ROIs (not saying this is you Tharsile), but when you get even a STABLE 5% on the relatively modest, rich-guy sum of say, $10 million, which is parked in stocks and bonds -- this is an annual income of $500,000 per year. Sure, the IRS is going to take at least 33% of this (without deductions), but who cares, you are still left with $330,000 per year.

And remember, to be a good rich guy: you don't want to work. You especially don't want to be hassled by employees, tenants, maintenance or business decisions -- you want to be "free." You want only two employees at most: your unbelievably aggressive tax accountant (who will preserve your capital) and your conservative Republican business manager (who will invest it in safe, stable stocks and bonds and get you your 5%.

Now, with your rich-guy system in place you are one of the HILTON sisters. Able to get drunk every night, travel the world (to get away from hangers-on), screw every chick or guy that has a nice ass. You are generally able to play the part -- and move to new states or countries (or take trips) when things get too hot or too boring. THIS is what it's all about, and as soon as more people in the world arrive at THIS position in life -- something the Robin Leaches of the world and Hollywood endlessly vomit -- we will all be happier and more satisfied. We will all be more fully living off the backs of the poor slaves we left in the dust, people enslaved by drugs and pharmaceuticals and cheese, and someday, AI robots. THIS state of planetary arrival is probably the basis for the Fermi Paradox. Why would other planetary societies -- that have arrived at this state -- desire to go through all the hassle of communicating with someone billions of miles away, let alone travel there. On the other hand, I DID say the rich like to travel -- so maybe they DID arrive at Roswell and infiltrate the government. This WOULD explain a lot.

Just some thoughts for you to pass on to your DIEING-HARD group Tharsaile.

>I don't understand why having an interest in investing means that nothing more important exists. Can't we be into more than one thing at the same time? Technology, perhaps?

See "Technology" and other terms in my new Glossary below.

>1000 of you saving the world. Sounds like that Ayn Rand novel. By the way, I think you're a few years too young to be a baby boomer.

Thanks for the compliment but I'm actually 99 years old.(1)

>>Well take a message back to all the morons at diehard.org: You're already dead.

>I can't -- they would delete it.

Well take the above message back, that they WILL be dead because they are playing a rich-mans' game.

James Jaeger

-------------------
(1) I'm not really 99. I just wanted you to think I was for 20 words-time. :)

Thinking about strategies By Fred Cederholm

TH*NK*NG (STRATEGIES) – Column for on/after May 12th, 2008, By Fred Cederholm)

I’ve been thinking about strategies. Actually I’ve been thinking about the 15 cent increase, inflation, the FED, energy and food, investigations, and conspiracies. A strategy is a coordinated or concerted plan of action undertaken to achieve a pre-desired end to something.

You see last Thursday we all saw an across the board increase in the price we pay for fuel at the pump of 15 cents. While I use the 10% ethanol blend in my PT Cruiser, lawnmower, weed wacker, and chain saw; the 15 cent price spike pretty much applied to regular unleaded, premium, and diesel fuel as well. This must have been some pricing strategy by all of the fuel retailers because the spike occurred everywhere (regardless of the company or the brand) at almost the same moment. In actual truth, the jump occurred at the locations to get fuel in Rochelle and DeKalb in ka-ching, ka-ching, ka-ching unison while the harmonious jumps to the prices of 13 cents in Creston and Malta occurred about two hours later. There was a brief window of opportunity to top off your tanks at these locations at the not-so-excessive prices and many took advantage of the brief arbitrage.

The fact that the apparent unitary price bump/ spike occurred everywhere at virtually the same instant for the same amount led me to TH*NK that this had to be some coordinated strategy of the oil companies to “ding” the consumers. I had already been on-line checking world-wide news and developments when a friend and neighbor stopped at the house to tell me I had better fill up immediately because a price jump was coming. I logged off and topped off my gas supplies for all of my fuel thirsty vehicles and gizmos. I then went back on-line to find out why the spike occurred. I found not one single development, catastrophe, or explanation. I found nothing to justify the jump!

This jump was not unexpected by me because I had felt that the recent further cut in interest rates by the FED of a quarter of a point would trigger a further drop in the comparative value US dollar relative to the basket of other world currencies and crude oil would re-price accordingly. The Dollar may still be the “official” currency of OPEC, but it is the value of the Euro, the British Pound, and the Japanese Yen relative to the US dollar which sets the market price for crude world-wide. When the dollar drops relative to the Euro, the Pound, and the Yen; the global price of crude (and distillates) adjusts accordingly. Sometime down the road the “at the pump price” increases occur as well. It is tragically funny how quickly the upward pricing occurs while the downward trends take their sweet time. This must be all a part of the grand strategy at work. It’s no accident, is it?

Since fuel costs figure so predominately in the pricing of our food supply, it can’t be too long before we witness the “cost push” factor of inflation in what we all pay at the stores for what we eat. Since this is an election year and the electorate is clearly not a group of “happy campers” over the perceived gouging of their households for energy and food consumed, there will undoubtedly be more Congressional investigations forthcoming. The record setting first quarter announcements of profits reaped by the oil companies triggered a barrage of hearings, investigations, and inquiries. We didn’t learn anything from them, now did we? There will be bravado/ grandstanding but little relief!

A strategy is a coordinated or concerted plan of action undertaken to achieve a pre-desired end to something. There is a distinction which must be made here. The coordinated or concerted plan of action is only a “strategy” when the ultimate goal is for the common good or general well-being. In my dictionary, when the ultimate goal achieves bad (or negative) things; we don’t have a strategy, we have a conspiracy. I TH*NK that subtle line of distinction has been crossed! I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.

Wednesday, May 07, 2008

Thinking about registrations By Fred Cederholm

Column for on/after May 5th, 2008

I’ve been thinking about registrations. Actually I’ve been thinking about the 2008 elections, the endless campaigns, the Supreme Court, endless payment increases, and a growing malaise affecting all US/us. It is really difficult to get fired up for the coming elections which are still some six months off into the future. This is no small observation coming from me – the all-time news and political junkie! I am not alone in this feeling of weariness as many of my readers agree on this.

You see the Tuesday primary elections in Indiana and North Carolina “may” determine who will be the standard bearer for the Democratic Party in the 2008 Presidential election, but I am not counting on it. Both Senators Clinton and Obama claim they are in the fight until the 2008 Denver Convention. Senator McCain has “locked in” the Republican Party spot on the ballot. Campaigning has gone on for two years. The conventions, real debates, and podium combat still loom before us. I was disgusted and undecided about my choice options in 2004. I voted for President last and ended up actually flipping a coin - John Kerry “won” the toss! That is no way to make a voting decision.

This time I’ve threatened to write in “none of the above” and check THAT as a protest vote. Mrs. Thomas, one of my all-time favorite teachers (and League of Women Voter member), lectured me that THAT is a sorry cop-out and that she was absolutely ashamed of me for even joking about it! As always… she is completely correct. Choosing our next President is a sacred right, an honor, and a privilege - one dearly paid for by those who have gone before us and defended this land, its constitutional processes, and the American way of life. This country is in a mess no matter how you TH*NK about it. The current Newsweek cover story talks about “The Post American World” and how over 80% of our population believe the nation is on the WRONG track – a 40 plus year high!

We need leadership and a major change of course. Our next president must not only be Chief Executive and Commander in Chief, they must be an inspirational Cheerleader-in-Chief. Their oratory from the “bully pulpit” of the Oval Office must be backed with a specific bullet-point listing of the details of their agenda and plan of action with a timetable. Platitudes, clichés, and sound bites are NOT going to cut it. We need the leadership of a John Kennedy or a Ronald Reagan to fire up the populace and unite them in the hard choices we must face as a nation. Details on their plans for a turnaround have NOT been forthcoming from McCain, Obama, or Clinton. Shame on them! And… shame on US/us for not demanding such from them. Heck… they haven’t fully IDed the problems!

The recent US Supreme Court ruling upholding the Indiana photo ID requirement caused me to research voting requirements. I was shocked by what I learned. The steps necessary for voter registration, residency requirements, and time frame requirements for registration vary greatly from state to state – even for the national office elections. If you are not registered, you cannot vote. The Illinois system has shorter eligibility and registration time frames (before elections) than most states. Some require almost a full year of residency and a minimum 90 day window of registration before the elections. Illinois even has “motor voter” where you take care of the necessary paperwork at the Secretary of State’s offices for drivers’ licenses changes and renewals. This couldn’t be easier!

It is so tempting to be focused on the never ending (and escalating) bills and payments that we face every month. The barrage of the daily negatives calluses us into a numbed stupor of malaise that we can readily forget how “we” are the problem, but “we” are the solution. If you are not registered to vote; please call your County Clerk’s Office, get the relevant information, and get registered! There is still time. I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.

Tuesday, April 29, 2008

Thinking about subtleties By Fred Cederholm

Column for on/after Apr. 27th, 2008

I’ve been thinking about subtleties. Actually I’ve been thinking about inflation, gas and food, frozen pizzas, my green bean casserole, instant coffee, and T-paper. Runaway inflation is a fact of life that far exceeds the under 3% that is still presently being hawked by the spin meisters for the Bush Administration and the Federal Reserve Bank. By definition “core inflation” conveniently excludes energy and food items which might be OK if we didn’t have to power the things we own and feed ourselves and our families. These two categories of necessities will continue to constitute a growing part of our expenditures. We now pay more for what we buy, or pay the same and get less!

You see last Friday I topped off my PT Cruiser which was down to about half a tank. After the most recent jump to $3.749 per gallon for the 10% ethanol blend, this cost me $26.80. When I got the car in June of 2000, I could coast up to the same pump “on the fumes in the tank” and fill it up for about $22.00. This represents almost a 144% increase over the eight years. My weekly trips to the grocery store to purchase/ replenish the same items cost me a bit over 60% more since my mother’s death five-and-a-half years ago. I was aware of THESE spiraling costs every time I opened my wallet to pay. However, I am (and all of US/us are) also paying more for the same stuff even if the so-called “sticker price” has NOT changed. These are the subtle (or covert) increases for which we get dinged because the quantities and/or the packaging have conveniently been “downsized.”

Last Saturday evening I treated myself and my little Scottish Terrier, Mac II, to a frozen pizza when “we” watched the Harry Potter movie on ABC. When I put the pizza on the pan before I slipped it into the oven, I noticed that there was at least 3/4^th of an inch of more pan showing around the edge. The pan hadn’t spread; the pizza’s diameter had shrunk by an inch and a half! Mac gets the pepperoni and sausage chunks, and I swear the little guy counts. At the end of the pizza, I got “the look” that I had held back on his allotment – I hadn’t, but he didn’t TH*NK so! This was a subtle price increase of about 8 to 10% even though I thought I had paid the same price for the same brand.

The culinary repertoire of things I fix for pot luck or cooperative meals at church is kind of limited. Two weeks ago I made my green bean casserole. I opened the usual four cans of green beans, drained them off, and emptied them in the usual bowl to mix them with a can of crème of mushroom soup. Not only was the bowl not at its normal level, but the grey-brownish goop of the condensed soup didn’t have any visible mushroom pieces! I had to open and drain a fifth can of beans and add a can of mushroom stems and pieces to restore my concoction to its regular level and appearance. I already knew from recent experience that I had to add a cup of self-rising flour and three tablespoons of cocoa powder to the get the usual volume of batter I needed for the brownies I make to take to events. These actions also mark a “food-flation” increase - subtle yes, but still there!

A recently purchased jar of instant coffee was compared to a jar from a year ago that I had saved to store nuts and bolts in my basement. The new jar was about an eighth of an inch shorter and narrower by the same measure. With all this in mind, I also noticed that the chrome shaft of my T-paper holder was now showing a visible inch when I replaced the roll. Without my realizing, the roll had actually evolved/ narrowed by an inch for the same brand at the same price. Hum, what gives?

“Eternal vigilance” in not only the price we pay for freedom, it is also what we must all do to truly know the price we are actually paying for the things we purchase. Like so many households across America we are finding that there is just too much month left at the end of the money – and the roll! I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.

Sunday, April 27, 2008

Discussion about the people and the forces that are bringing down America

Saturday, April 26, 2008

The entire show this week originates from the GATA Conference in Washington, DC.

Segment 1 - Al discusses the possibilities of gold manipulation with Bill Murphy, Chris Powell and Ed Steer of GATA.

Segment 2 - Al continues the discussion began in Segment 1.

Segment 3 - Al discusses GATA, gold prices and other issues with James Turk, founder of GoldMoney.

Segment 4 - More discussion at the GATA conference with a panel consisting of James Turk, Bill Murphy, Chris Powell and Ed Steer.

Segment 5 - Al discusses gold and resource investing with John Embry, Chief Investment Strategist of Sprott Asset Management.

Segment 6 - Al and Joe Martin, Chairman of Cambridge House, discusses the value of the GATA conference.

Hear the entire program
http://www.kereport.com/audio/0426.mp3

Wednesday, April 23, 2008

Thinking about shakiness By Fred Cederholm

Apr. 20th, 2008

I’ve been thinking about shakiness. Actually I’ve been thinking about earthquakes, the US dollar, the February 2008 trade numbers, our trade deficits, our energy deficits, interest rates/ the “auction,” and inflation. Official numbers for our energy imports and our trade deficit(s) for this past February, and the cumulative trade deficit(s) for the calendar year thus far were released last week. While the media may have focused on the anomalies of a growing cluster of hundreds of unexplained quakes in the Pacific Ocean off the State of Oregon and the Friday morning 5.2 shaker in Southeastern Illinois, the real “shakiness stories” should have chronicled the further downward slide of the US Dollar relative to the other major world currencies. Unfortunately there is presently no “Richter Scale” for the precarious shakiness of the Buck. The Dollar is having major seizures!

You see while equity markets appeared to enjoy a favorable performance for the week just ended, this is a fluke reflecting that certain “index heavy” companies had a better first quarter from their international operations - mainly because the Dollar continued to tank. Because we import far in excess of what we export, we all have paid dearly for the benefits of these few. We now see the repercussions of recent interest rate cuts and the continued printing of more dollars. There is a time value to money and that is called interest. Each cut or anticipated cut in interest rates paid to holders of Dollars results in a downward re-pricing in the purchasing value of the Buck. This is the true cause of the run amok inflation we are ALL experiencing at BOTH the gas pump and grocery store.

Our eight largest trade deficits for the month of February 2008 (and 2008 Year to Date) are as follows: China $18.355 Billion ($38.667 Billion YTD), Japan $6.877 Billion ($13.469 Billion YTD), Canada $6.450 Billion, ($12.316 Billion YTD), Mexico $5.467 Billion ($10.638 Billion YTD), Saudi Arabia $3.501 Billion ($6.891 Billion YTD), Germany $3.416 Billion ($6.320 Billion YTD), Nigeria $2.884 Billion ($6.297 Billion YTD), and Venezuela $2.600 Billion ($6.020 Billion YTD). Our hands-down overall biggest dollar denominated imports are for crude oil and petroleum distillates, so just WHAT all are we still hocking our souls for in what we are getting from China, Japan, and Germany? February imports AND exports were both at records, yet imports grew faster!

The top eight sources of Uncle $ugar’s crude oil imports for February 2008 were: Canada (1.888 Million barrels per DAY--MBPD), Saudi Arabia (1.614 MBPD), Mexico (1.231 MBPD), Nigeria (0.982 MBPD), Venezuela (0.927 MBPD), Iraq (0.780 MBPD), Angola (0.341 MBPD and Kuwait (0.261 MBPD). Uncle $ugar’s top eight sources of total petroleum imports for February 2008 were: Canada (2.419 MILLION barrels per DAY--MBPD), Saudi Arabia (1.627 MBPD), Mexico (1.324 MBPD), Venezuela (1.112 MBPD), Nigeria (1.025 MBPD), Iraq (0.780 MBPD) Russia (0.451 MBPD), and the Virgin Islands (0.351 MBPD). Crude imports averaged 9.514 MBPD at a February import average price per barrel of crude oil ($84.76). It is important to note that last Friday’s crude pricing reflected an all-time high of $ 117 per barrel. Pump prices locally are now $3.57/ gallon for a 10% ethanol blend, $3.67/ gallon for regular, and $4.18/ gallon for diesel!

The FED has cut their lending rate to banks by 3.0% to 2.25% to “save the banks and their borrowers,” but it is the savers who really took the hit on their deposits. Borrowers actually saw their rates rise, or MAYBE stay the same! Last week’s Treasury auction composite average rate at 1.38% for 26 weeks “suggests” further rate cutting by the FED. Should this major error in policy occur, the Dollar will plummet, and crude will soar above $130. A few may benefit; but… we will ALL pay at the pump AND the store! I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.

Foreclosure, Fraud, Internal Revenue forms 1099-A's and 1099-C's By Barbara A.Jackson

Using my name and social security number, Wells Fargo filed a
falsified form 1099-A  --and it could happened to anyone who had or has
a mortgage loan.  Inaccurate or false information on an Internal
Revenue form 1099-A is significant.  The salient problem about an
untrue form1099-A, or 1099-C, is that either forms could cause
extensive and NEEDLESS tax consequences for TAX FILERS -especially, if
the tax filer is oblivious that a1099-A has been reported!

Lenders and creditors probably receive undeserved tax write-offs and
have distorted Securities Accounting as a result of untrue 1099's.
Also, particularly when real estate is being illegally, fraudulently
FLIPPED; and when Investors are being deceived; when foreclosures
occur via frauds, after evidence of Wells Fargo filing FALSIFIED
1099's surfaces, THERE IS CAUSE FOR SWEEPING PROBES INTO the 1099's
that Wells Fargo files with the IRS!  In fact, such an investigation
is probably warranted nationwide in communities which Wells Fargo does
business and reports tax information on 1099-A's and 1099'C's.

I am Katrina-displaced from New Orleans.  In LOUISIANA, Wells Fargo is
among certain  mortgage companies involved in REAL ESTATE and MORTGAGE
FRAUD schemes.  Because scores of people were displaced by the
hurricanes of 2005, companies like Wells Fargo have much greater
capacities to expand its various frauds and deceptive practices.
Emphatically, the fact that thousands of people become displaced via
disaster, the conceivability for Wells Fargo (and any other companies)
to file false 1099-A's or 1099-C's is vast and very easy to carry off.

This past February of 2008, I learned from the IRS that in year 2006,
WELLS FARGO filed a 1099-A for my former New Orleans property.  (Wells
never gave me a copy of that 1099-A.)   The year 2005 tax transcript I
obtained from the IRS shows that Wells Fargo filed an "acquisition" /
"abandonment" form 1099-A, wherein Wells Fargo represents May 19, 2005
as the date of my home being "abandoned" / "acquired" by Wells Fargo.

To the contrary, ON MAY 19, 2005, allegedly ON BEHALF OF GE Capital
Mortgage Services, Inc., a debt collector foreclosed and made his own
auction bid in an amount of $120,000.00. THE DEED to my home was
recorded IN THE NAME of GE Capital Mortgage Services, Inc.  Thus,
clearly Wells Fargo DID NOT acquire my property as Wells Fargo
reported to the IRS; and at the least, a 1099-A would appear more
logical if filed by GE Capital Mortgage Services.  Also, Wells Fargo?s
1099-A reported $12,000.00 as the Fair Market Value for my property.
However, IRS publication 544 states that the FMV is deemed by the
auction bid price -$120,000.00.  Another notably fraudulent thing
about Wells Fargo's 1099-A, is its FALSE representation of my owing to
Wells Fargo $86,149.00!  There's more I could point out, but the fact
of the matter is that I filed a form 3949-A to rebut the 1099-A that
was filed by Wells Fargo.

Also, it is worth investigating and comparing how many properties
Wells Fargo under-reported the Fair Market Value to IRS, and what
benefit(s) did Wells Fargo derive from those lower fair market values
-which, as in my case, the FMV that Wells Fargo reported was
absolutely and verifiably false.  (There is MORE to this particular
real estate fraud scheme -including a July 2005 report of Freddie Mac
paying $86,150.00 to GE Capital Mortgage Services, Inc., for my
property; Freddie Mac's purchase was printed in the August 2005 local
newspaper real estate transfers section.  Thus, even Freddie Mac?s
payment refutes the FMV reported on the 1099-A filed by Wells Fargo.
Another twist to this saga is the fact that GE Capital Mortgage
Services became DEFUNCT on October 25, 2002!  See the Louisiana
Secretary of State website, Corporations Division.)
_______________________
Barbara Ann Jackson
Law & Grace, Inc.
www.lawgrace.org