talk about strange bedfellows

Our elected leaders in Washington have quietly passed legislation that makes it easier for the financial industry to foreclose on American home-owners by making it harder to detect the fraudulent paperwork that underpins the foreclosure process. Furthermore, that fraudulent paperwork is key evidence of the exact nature of the fraud involved in the market for the complex investment vehicles based on mortgage-backed securities that lie at the heart of our coutry’s economic problems.

A paralegal at the foreclosure mill of David Stern has given a deposition to the Florida Attorney General indicating that virtually every affidavit, assignment or other sworn document coming out of that firm is faked.

Centuries ago, news of momentous events traveled throughout the countryside by means of beacon fires, alerting all along the route to big changes coming. September and October 2010, are shaping up to be the time of the beacon fires when it comes to foreclosure fraud.

by Zach Carter, Media Consortium blogger

Next week, the debate over financial reform will begin in earnest when Congress returns from its Easter break. Both political parties are gearing up for a major fight, and the stakes couldn’t be higher. An out-of-control banking sector has cost the economy over 7 million jobs since 2007, and without major reforms, Wall Street could repeat this disaster in just a few years’ time. But thanks to Wall Street’s lobbying might, all of the necessary reforms are currently in jeopardy.

This isn’t really a diary, but a quick note to let everyone know that, due to technical difficulties on the stream on Wednesday, and to remind everyone of this weekend’s rallies, Nancy will be re-airing her interview with Jane during the last half hour of her show today (5:30-6:00 ET).