Monday, January 24, 2011

Student Loan Defaults

$58B in default
7% default rate

And, as he states, "you can't get rid of a student loan debt in a bankruptcy proceeding".

Enslaved youth of america.

Video #2: Ninja Generation & Student Loan Debt

Saturday, January 22, 2011

David Crisp, Part 5

David Crisp
, Formerly of Crisp & Cole

The noose is getting closer!!

What timing. I posted Part 4 on Jan 16, and here is what Crisp & Cole get on Jan 21.
(thanks, AuAgPb--three of my most favorite metals, by the way)

2011-01-21: Crisp & Cole: Nine of 10 defendants appear in court
Nine of 10 defendants named in the Crisp & Cole mortgage fraud indictment unsealed Friday pleaded not guilty to the charges against them. The one exception was real estate executive David Crisp, whose arraignment before a U.S. magistrate judge was scheduled for Monday.

Eight of the nine who entered pleas Friday were released on their own recognizance on various conditions, including a requirement that they appear before a U.S. district judge for a status conference at 9 a.m. Feb. 11 in Fresno.

2011-01-21: Crisp & Cole: A timeline of events

2011-01-21: 10 Indicted in $20M Real Estate Scam
Ten people have been indicted in a $20-million wide-ranging real estate scam in California, according to the U.S. Attorney.

David Crisp, 31, was arrested Thursday night in San Diego. Carlyle Cole, 63, was arrested Thursday night in Ventura County. Julie Farmer, 42, Sneha Mohammadi, 49, Jayson Costa, 38, Jeriel Salinas, 29, Michael Munoz, 31, and Caleb Cole, 35, were arrested Thursday in Bakersfield. Robinson Nguyen, 30 was arrested Thursday in Monterey and Jennifer Crisp, 29, surrendered to authorities on Friday morning.

The 10 are being charged in a 56-count indictment with conspiracy to commit bank, mail and wire fraud, and with individual counts of mail fraud.

2011-01-21: Crisp & Cole: A who's who in the case

Sunday, January 16, 2011

David Crisp, Part 4

David Crisp, Formerly of Crisp & Cole

The noose continues to tighten!!!

Ok, I'm a bit behind on the stories, but I'm not going to forget. These two (Crisp & Cole) were main characters in the Housing Bubble Drama, and we will watch them face justice.

2010-07-01: Fifth guilty plea entered in Crisp & Cole fraud case
Christopher Lance Stovall, formerly a loan officer with the mortgage lending arm of Crisp, Cole & Associates, entered a guilty plea in federal court Thursday as part of a plea deal in a mortgage fraud investigation.

Stovall is the fifth person to take a deal in the case. None of them have been sentenced, however. Investigators have asked the court to delay sentencing to give the defendants time to cooperate with authorities in the ongoing investigation.

Stovall, 37, looked boyish despite his bald head and goatee as Judge Oliver Wanger asked him if he understood the terms of each point of the agreement, which was read aloud at the hearing in U.S. District Court, Eastern District of California in Fresno.

To each question, Stovall replied simply, "yes."

When the judge asked how he pleaded to four counts of felony mail fraud and aiding and abetting, Stovall said, "guilty," then shifted his weight from one foot to the other and looked down at the courtroom's blue carpet.