The Federal court for the southern district of new york hands down Securities and Exchange Commission v. Goldman Sachs: judge, Barbara S. Jones, orders Goldman Sachs to pay a 535,000,000 “dollar” fine for misleading investors in the sub-prime (junk) mortgage market.  The fine is split three ways between IKB Deutsche Industriebank, the Royal Bank of Scotland and the United states treasury—with nothing going to U.s. enemy/subject/citizens who were defrauded by GS.

       [added 8/28/2021] Thanks to Freedom’s Phoenix for this entry.

       President Janet L. Yellen, of the privately owned Federal Reserve (central) Bank of San Francisco, in testimony to the senate banking committee argues for increase power for the unlawful Federal Reserve System of (central) Banks, acknowledging the Federal Reserve Board of Governors (the Federal agency the oversees the FRSBs) current regulations were inadequate to either predict or prevent the Greatest Depression: “We failed completely to understand the complexity of what the impact of the national decline in housing prices would be in the financial system.  We saw a number of different things, and we failed to connect the dots.”

       [added 8/28/2021] Thanks to Freedom’s Phoenix for this entry.

        RealtyTrac reports that during the second quarter the number foreclosure notice filings reached a record high of 895,521.  This quarterly figure would have been higher had lenders not delayed the foreclosure process through modifications and short sales (which prevent the borrower from profiting on any equity in the home).

       [added 8/28/2021] Thanks to Freedom’s Phoenix for this entry.