July 16, 2012 0

Still More on Credit-Worthiness of Bank Lending in Housing Bubble: Loan Originations vs. True Bank Lending

By News Desk

This is what I stated, adding the words [banks thought]. The email from reader David follows this recap. Five Reasons Banks Extended Credit in Housing Bubble Years [Banks thought] People would pay mortgage loans because they always did [Banks thought] Housing prices would rise sufficiently to cover defaults [Banks thought] Mortgage interest rates to subprime borrowers were high enough to cover risk [Banks thought] Defaults would happen over a long period of time, not quickly concentrated Banks could pass the trash to Fannie Mae and Freddie Mac (without clawbacks for non-performance), and/or loans could be sliced and diced in tranches to investors If any of those conditions were true, then banks were indeed making loans to “credit-worthy” borrowers

July 16, 2012 0

Ending Syria’s Violence

By News Desk

Begins with ending arms, cash, and support for terrorist front.  by Tony Cartalucci  July 16, 2012 – At 20 million, if even half of Syria’s population rose up against the government of President Bashar al-Assad, armed with pointed sticks, the revolution would be over in an afternoon. Instead, it has dragged on for nearly a year and a half, consisting of hit-and-run battles, terrorist bombings, and cross-border infiltration – indicating that but a slim minority has "risen up" and of that minority, the vast majority of them are sectarian extremists – admittedly many are not even Syrian. Most importantly, it is not within Syria, but beyond its borders, that these "rebels" derive the summation of their support

July 14, 2012 0

US Agents of Subversion Deride Russian NGO Bill

By News Desk

US Agents of Subversion Deride Russian NGO Bill Disingenuous peddlers of transparency and "open society" choke on their own medicine.  by Tony Cartalucci  July 14, 2012 – An empire seeking to covertly overrun a targeted nation would ideally do so with an opposition movement featuring the complete obfuscation of all ties to its foreign sponsors. And for centuries under Imperial Britannia, and now under its most recent reincarnation, Anglo-American "globalization," that is precisely what has been done.

July 14, 2012 0

Latest Syria "Massacre" – Goebbelsesque Propaganda

By News Desk

BBC even went as far as literally admitting , after offering up another "Houla-style" narrative, that (emphasis added): …later, activists told the AFP news agency that rebel fighters had attacked an army convoy, but were beaten back and many were killed in a counter-attack. "At this stage, though we do not yet have the final count, the number of civilians killed by shelling is not more than seven," said Jaafar, an activist from the anti-regime Sham News Network. "The rest were members of the Free Syrian Army." So despite even the "activists" themselves admitting they attacked the Syrian military first and simply lost the subsequent battle which appears to have led back to their base of operations in Tremseh, the Western media decided to spin it as a calculated, mass murder of civilians, as the Guardian puts it , "timed" for "boosting morale of Assad’s armed supporters and scuppering attempts to find a political solution,"  quoting a member of the overtly Western-backed "Syrian National Council" (SNC)

July 13, 2012 0

Russia Vs. Wall Street’s NGOs

By News Desk

July 13, 2012 The Russian Duma has just passed amendments to the Russian NGO law. Russian NGOs receiving foreign funding will now have to register at the Ministry of Justice as an “NGO carrying out functions as a foreign agent†, make public their sources of funding by marking it on the materials they distribute, and report semi-annually to the Ministry of Justice on their activities. This law, a great majority of Russians believe, is long overdue.