Friday, October 15, 2010

Why Stocks Could Collapse... Beginning as Soon as October 31st!

Want a peak at the next couple of years here in America? Then you have to connect the dots on what is happening today.

“People are going to wait for the elections in November. They think they’re going to have some other change that they can believe in. It won’t happen. When the economic winter sets in, then you’re going to start seeing people protesting more and more. This is just the beginning.” Gerald Celente

Why Stocks Could Collapse... Beginning as Soon as October 31st!

Dennis Slothower is one of the world’s leading technical analysts. He’s one of the few advisors whose readers completely avoided ALL losses during the disaster that was 2008.

And now he’s issuing another dire warning.

His technical indicators suggest that the market manipulation we’ve seen over the last several months is about to come to an end…and that means thousands of investors are about to get clobbered. STEALTH STOCKS

Foreclosure Fraud: 6 Things You Need To Know About The Crisis That Could Potentially Rip The U.S. Economy To Shreds

#1 According to the Associated Press, financial institutions were hiring just about whoever they could find, including hair stylists and Wal-Mart employees, as "foreclosure experts" to help them rush through the massive backlog of foreclosures that were rapidly piling up.

#2 There is soon going to be a colossal legal scramble to figure out who actually owns millions of U.S. mortgages.

#3 Legal battles over foreclosure documents could soon spawn thousands upon thousands of lawsuits across the United States.

#4 The problems with foreclosure paperwork may be more widespread than anyone would have dared to imagine.

#5 If some banks discover that they are missing the paperwork for large numbers of mortgages (as is currently being alleged), those banks could be forced to significantly revalue those assets (as in "close to zero") on their balance sheets.

#6 Renowned investor Jim Sinclair is actually warning that the collapse of securitized mortgage debt could be the "final shot" that will wipe out many financial institutions across the United States. FULL STORY

Is David J. Stern the poster boy for the foreclosure mess?

Meet David J. Stern. He's the high-living Florida lawyer who just might be the poster boy for the foreclosure mess that has currently embroiled Washington and Wall Street. Legal documents examined by The Upshot offer details on how Stern's firm, and other "foreclosure mills" like it, may have helped to unfairly force thousands of struggling Americans from their homes. FULL STORY


So yesterday, early in the day, the associated press announced LINK – JPMorgan exits electronic mortgage tracking system…

NEW YORK — JPMorgan Chase’s CEO says the bank has stopped using the electronic mortgage tracking system used by major financial institutions.

JPMorgan’s CEO, Jamie Dimon, made the announcement in a conference call Wednesday to discuss the bank’s quarterly earnings.

Shortly thereafter some of the stories started to change throughout the internet…

Then CNBC Diana Olick reports LINK – JP Morgan Chase Drops Electronic Mortgage Clearing House…

It was news to me, and to the AP wires, but a spokesman confirms, JP Morgan Chase no longer uses MERS, the electronic mortgage clearing house, that is at issue now in foreclosure litigation across the country. They dropped MERS in 2008.

So I asked Kelly why they dropped MERS. First he said, “In truth some courts won’t accept MERS for foreclosures.” But then he said it was “a matter of policy.” I’m sure they don’t want to come right out and say, well, we’re not exactly sure MERS is all that legal.

So, now my question to you Mr Kelly… FULL STORY

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