There is a tangled web of litigation against B of A/Countrywide which preceded the FDIC's decision to intervene in a $8.5B settlement between B of A and a group of 22 "investors" in MBS's securitized by Countrywide.

In February a group of investors (known as Walnut Place) in Countrywide MBSs (three MBS trusts) filed an action against BNY Mellon - who is the Trustee. The action is meant to force the Trustee to sue Countrywide to take back the non performing MBS's. The case was assigned to Judge Kapnick in the New York Supreme Court.

On June 29, an $8.5B Settlement between B of A /CW and 22 large investors, engineered by BNY Mellon, was announced; simultaneously BNY Mellon filed a petition with the NYSSC to approve the settlement. The 22 investors represent less than 51% of all the investors in the subject 530 trusts. The  petition was filed under Article 77 for the purpose of trying to make the settlement binding on all the investors in a total of 530 trusts, including those in the 3 trusts at issue in the  Walnut Place filing. BNYM requested Judge Kapnick to be assigned, under the premise that Walnut Place's prior filing re three trusts would be adjudicated under the overall $8.5B settlement for all 530 trusts.

Labor Day looms, and with it the official end of summer.[1] Labor Day – the day we celebrate the strength and importance of American labor. But in truth, on this Labor Day what will there be to celebrate – certainly not the strength and importance of American labor.

Things, after all, are not good for labor in America these days.

I have written before about Ankylosing Spondylitis (AS), the chronic, degenerative inflammatory arthritic disease which I was diagnosed as having back in 1985.  According to new figures from the CDC, there are as many as 1.4 million people with AS in North America, and possibly as many as 2.4 million. AS affects more people than Multiple Sclerosis, Cystic Fibrosis and Lou Gehrig's disease combined.  According to the new CDC figures, it also now affects more people than are affected by Rheumatoid Arthritis.

AS is a devastating, often painful and debilitating disease which can fuse the neck and spine and cause a variety of other problems.  My neck and spine have been totally fused since 1989.

Adapted (with intentional and extensive plagiarism) from "Don't Refloat, the case against rebuilding the sunken city of New Orleans," a Sept. 7, 2005, article in Slate by Jack Shafer

[Note: Do not read if you are offended by satire in the face of human adversity.]

Pat Robertson speaking today:

".... it seems to me the Washington Monument is a symbol of America's power, it has been the symbol of our great nation, we look at that monument and say this is one nation under God," he continued. "Now there's a crack in it, there's a crack in it and it's closed up. Is that a sign from the Lord? Is that something that has significance or is it just result of an earthquake? You judge, but I just want to bring that to your attention.."

I agree, there may be clear evidence of a sign from above.