By Catherine Austin Fitts
It is worth noting the wave of mortgage related settlements occurring this month. The most sensitive has yet to be finalized – Goldman Sachs. Expect that soon.
Looks like someone wants all these legal liabilities behind them. Treasury needs the money in their coffers before the appropriations members return to Congress after Labor Day to finalize the new budget before October 1. The Administration wants these cleared before the primaries are over and the campaigns for November are in full swing. And everyone wants the money in government account before the Fed taper ends and any liquidity events, even bail-ins, begin.
New York State has announced a $4 billion surplus as a result of recent settlements with financial institutions. Andrew Cuomo, governor of NY, is handing out money all over the state from the “surplus.” Nice trick. Engineer the housing bubble as Secretary of HUD. Use the friends that result to get yourself elected Attorney General of New York. Use that position to protect the bubble game while you look like a tough guy and make more friends who elect you governor. Get a % of the remaining settlements as your cut of the bubble profits, and use that money to buy yourself another election.
If you lost your home to foreclosure over the last decade, consider yourself as having made a campaign contribution to the politicians responsible as they hand out pork this election season.
The clearing of these liabilities and the push to buy elections with it contributes to this sense that something is about to happen.
- AIG Settles With Shareholders For $960 Million
- Goldman Mortgage Deal with US Agency Could Reach US$1.25b
- Citigroup-SEC $285M Settlement Gets U.S. Judge Approval
- Bank of America Near $16 Billion to $17 Billion Settlement
- Citi Inks $7 Billion Mortgage Settlement
- Morgan Stanley Agrees to $275 Million Mortgage Settlement
- Treasury: No Timetable to Exit Ally Financial
