Office of Thrift
"Our goal is to allow thrifts to operate with a
wide breadth of freedom from regulatory intrusion." - James Gilleran
"The Office of Thrift Supervision championed the
thrift industry's growth during the housing boom and called programs that
extended mortgages to previously unqualified borrowers as "innovations." -
Binyamin Appelbaum and Ellen Nakashima James Gilleran
of the Office of Thrift Supervision (with the chainsaw) and John Reich (then
Vice Chairman of the FDIC and later at the OTS) and representatives of three
banker trade associations: James McLaughlin of the American Bankers
Association, Harry Doherty of America's Community Bankers, and Ken Guenther of
the Independent Community Bankers of America.
James Gilleran, an
impassioned advocate of
deregulation, cut a quarter of the
agency's 1,200 employees between 2001 and 2004, even though the value of loans
and other assets of the firms regulated by the Office of Thrift Supervision
doubled over the same period.
Scott M. Polakoff claimed the Office of
Thrift Supervision closely monitored allowances for loan losses at Countrywide
Financial, Washington Mutual and Downey Savings among others and considered
Darryl W. Dochow, the official in charge of regulating
Washington Mutual, Countrywide Financial and Downey Savings played a key role
in the collapse of Charles Keating's Lincoln Savings and Loan by delaying and
impeding proper oversight of operations.
Darryl W. Dochow, Ellen
Seidman, James Gilleran and Scott M. Polakoff knew what was happening and let
Washington Mutual paid 13% of their budget in the 2007-2008
fiscal year while Countrywide provided 5%.
IndyMac Bank is founded by David S. Loeb and Angelo Mozilo as a means of
collateralizing Countrywide Financial.
Stanford L. Kurland, at the center of that culture shift at Countrywide
Financial, acknowledged pushing Countrywide into the type of higher-risk loans
- loans that came with low "teaser" interest
July 9, 2008 IndyMac shares closed at
$0.31 in trading on the New York
Stock Exchange, a loss of over
99% from its high of $50
July 11, 2008 $32 billion in IndyMac
Bank assets are seized.
Stanford L. Kurland founds PennyMac with the
purchase of $558 million in deliquent Countrywide mortgages held by the FDIC
for pennies on the dollar.
Stanford L. Kurland then renegotiated the
mortgage with the mortgagee writing down the value of the mortgage and reducing
the interest rate.
Eric Lipton predicted PennyMac stands to make a
profit of at least 50% on mortgage defaults.
Others suggest PennyMac
may only return 15% to 25% a year.
"Kurland is seeking to capitalize on
a situation that was a product of his own creation. It is tragic and ironic.
But then again, greed is a growth
industry." - Blair A. Nicholas
"Three decades ago, a single income could purchase
a house and pay taxes, utilities, gas, insurance, etc. Today,
debt - not hard work and saving - makes the
American dream possible. - Regina
2006Washington Mutual states in a securities filing that it is
continuing to qualify borrowers based on their ability to afford a teaser
September 25, 2008 The Office of
Thrift Supervision (OTS) seizes Washington Mutual and placed it into the
receivership of the FDIC.
The FDIC sells Washington Mutual assets and liabilities, including
bonds and other secured debt
valued in a 2007 SEC filing at $327.9 billion to
JP Morgan Chase for $1.9
"Our efforts at The Hamilton Securities
Group to help HUD achieve maximum return on the sale of its defaulted
mortgage assets coincided with a widespread process of "privatization" in which
assets were, in fact, being transferred out of governments worldwide at
significantly below market value in a manner providing extraordinary windfall
profits, capital gains and financial equity to private corporations and
I now refer to privatization as "piratization." - Catherine
Camilo Padreda, a former conterintelligence officer for Fulgencio
Batista and GOP campaign finance chair for Dade county, hires Jeb Bush to be
the exclusive leasing agent of a Padreda building built with HUD
1990 Camilo Padreda pleads
guilty to falsifying HUD documents in order to get the $17.8 million loan for
the building Jeb Bush leased exclusively.
Hamilton Securities Group designs Community Wizard
software is mapping financial flows of HUD government money to specific
Hamilton Securities, a HUD contractor, is attempting
to return excess market value to
the community in which
the repossession took place.
HUD sells a foreclosure to the
local city government for a dollar.
Local city government resells
the home to a low income family but in reality it is typically sold to a
speculator who later flips it at a substantial profit.
"I started an
investment bank and financial software firm in Washington called The
Hamilton Securities Group. As I served as Assistant Secretary of
Housing-FHA Commissioner at HUD, I tried on numerous occasions to persuade
Secretary of HUD Jack Kemp not to propose new policies that would result in the
abrogation of government contracts or contractual obligations with respect to
financial assets." - Catherine Austin Fitts
Foreclosures are picked up for
1⁄100 value and resold at substantial
The flow of US government funds showed US agencies are
complicit in the laundering of
massive amounts of money from criminal activities.
of selling repossessed properties at below market value where . thanks to HUD
regulations the idea was to allow people in the community to purchase the
distressed property creating equity value for the new community based property
During the criminal investigation of the Hamilton Securities
Group the departments of the federal government acted
in a normative manner - normal for a
fascist police state.
" We were later to discover that the
Department of Justice was using CACI International Inc as
a litigation support
contractor on our case.
CACI, the leading supplier of
Geographic Information Systems software, was in the headlines as a
result of the prison at Abu Grahbi in
our entire digital
Shortly thereafter CACI came out with a
geographic information systems mapping tool to help support increased policing
and enforcement product.
This begs the question whether
DoJ was paying our
competitor to help themselves to our
proprietary software and
The fastest way to connect the dots would have been for me and
my teammates to have looked at the maps of high HUD single family
software tools and
databases dive into government financial flows would have identified
patterns of mortgage securities fraud.
You had to
wonder if this was the "Sheriff of
Nottingham's" answer to Community Wizard - rather than using software to
allow citizens to understand what government was doing,
why not use software to
provide increased surveillance of citizens by government.
contiguous to areas of significant narcotics trafficking that we had posted on
the Internet and then use the
The destruction, suppression and theft of
our software tools, databases and computer
system was arranged by a series of events between late 1997 and early 1998 that
was orchestrated throughout government." -
CACI International Inc, motto Ever Vigilant,
provides services and solutions to federal clients "for
national security, improve
communications and collaboration, secure the integrity of information systems
and networks, enhance data collection and analysis, and increase efficiency and
According to the CACI paper Assymetric
Threat Global Snapshot, November 2009
the greatest future terrorist threats
will emanate from within from
Americans who are sympathetic with Islamic jihad.
consensus that asymmetric threats, including acts of terrorism, will be a
prominent feature of the threat environment." - National Security Strategy,
Herb Karr and Harry Max Markowitz* founded
California Analysis Center Inc., precursor to CACI International
Inc., in Santa Monica, California.
Harry Max Markowitz, a
University of Chicago graduate,
received the Sveriges Riksbank Prize in
Economic Sciences in Memory of Alfred Nobel.
This web site is not a commercial web site and
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This website defines a
new perspective with which to engage reality to which its author adheres. The
author feels that the falsification of reality outside personal experience has
forged a populace unable to discern propaganda from reality and that this has
been done purposefully by an international
corporate cartel through their agents who wish to foist a corrupt version
of reality on the human race. Religious intolerance occurs when any group
refuses to tolerate religious practices, religious beliefs or persons due to
their philosophical ideology. This web site marks the founding of a system of
philosophy named The Truth of the Way of the Lumière Infinie - a
rational gnostic mystery religion based on reason which requires no leap of
faith, accepts no tithes, has no supreme leader, no church buildings and in
which each and every individual is encouraged to develop a personal relation
with the Creator and Sustainer through the pursuit of the knowledge of reality
in the hope of curing the spiritual corruption that has enveloped the human
spirit. The tenets of The Truth of the Way of the Lumière Infinie are
spelled out in detail on this web site by the author. Violent acts against
individuals due to their religious beliefs in America is considered a "hate
This web site in no way condones violence. To the contrary the
intent here is to reduce the violence that is already occurring due to the
international corporate cartels desire to control the human race. The
international corporate cartel already controls the world economic system,
corporate media worldwide, the global industrial military entertainment complex
and is responsible for the collapse of morals, the elevation of self-centered
behavior and the destruction of global ecosystems. Civilization is based on
coöperation. Coöperation does not occur at the point of a
American social mores and values have declined precipitously over
the last century as the corrupt international cartel has garnered more and more
power. This power rests in the ability to deceive the populace in general
through corporate media by pressing emotional buttons which have been
preprogrammed into the population through prior corporate media psychological
operations. The results have been the destruction of the family and the
destruction of social structures that do not adhere to the corrupt
international elites vision of a perfect world. Through distraction and
coercion the direction of thought of the bulk of the population has been
directed toward solutions proposed by the corrupt international elite that
further consolidates their power and which further their purposes.
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