Seeker of Truth
05-21-2003, 07:55 AM
BUSHWHACKED: HUD Fraud, Spooks and the Slumlords of Harvard
by Uri Dowbenko
Catherine Austin Fitts is still trying to figure out what happened.
Her company, Hamilton Securities, Inc., was the lead financial advisor to the US Department of Housing and Urban Development (HUD).
Hamilton was hired to manage the sales of $10 billion worth of mortgages on houses, apartment buildings and nursing homes.
By all accounts, Hamilton's new program was a resounding success.
In fact, the HUD loan sales program team was even given a Hammer Award for Excellence in Re-engineering Government by Vice President Al Gore's Reinventing Government Initiative. By cutting red tape and improving the resale value of HUD owned mortgages, Hamilton Securities was a case study of a public-private partnership that saved US taxpayers lots of money.
Until...
The firm was ambushed by a series of lawsuits, audits and unsubstantiated rumors which destroyed the business.
Catherine Austin Fitts -- Maverick Banker
In the arcane but stodgy world of investment banking, Catherine Austin Fitts is a revolutionary.
Before founding her own firm, Fitts, a Wharton graduate, was the first woman to be promoted to managing director of Dillon, Read and Co, Inc., the prototypical elitist men's club Wall Street investment bank.
To her credit, Fitts was instrumental in building a new market for Dillon Read. She began underwriting previously unrated municipal bonds, in essence, financing large government projects which other Wall Street firms said couldn't be done.
These novel bond sales helped revive New York City's crumbling subway system, and they provided funding for the City University of New York and other major projects.
The market in unrated and low-rated muni bonds took off, earning Fitts the title of "Wonder Woman of Muni Bonds," in a glowing Business Week article (February 23, 1987).
In 1989, she was asked to become the Federal Housing Administrator under HUD Secretary Jack Kemp. Fitts moved to Washington to undertake the monumental task of reforming the scandal-ridden, fraud-plagued agency.
More @ conspiracydigest.com (http://www.conspiracydigest.com/bushwhacked.html)
by Uri Dowbenko
Catherine Austin Fitts is still trying to figure out what happened.
Her company, Hamilton Securities, Inc., was the lead financial advisor to the US Department of Housing and Urban Development (HUD).
Hamilton was hired to manage the sales of $10 billion worth of mortgages on houses, apartment buildings and nursing homes.
By all accounts, Hamilton's new program was a resounding success.
In fact, the HUD loan sales program team was even given a Hammer Award for Excellence in Re-engineering Government by Vice President Al Gore's Reinventing Government Initiative. By cutting red tape and improving the resale value of HUD owned mortgages, Hamilton Securities was a case study of a public-private partnership that saved US taxpayers lots of money.
Until...
The firm was ambushed by a series of lawsuits, audits and unsubstantiated rumors which destroyed the business.
Catherine Austin Fitts -- Maverick Banker
In the arcane but stodgy world of investment banking, Catherine Austin Fitts is a revolutionary.
Before founding her own firm, Fitts, a Wharton graduate, was the first woman to be promoted to managing director of Dillon, Read and Co, Inc., the prototypical elitist men's club Wall Street investment bank.
To her credit, Fitts was instrumental in building a new market for Dillon Read. She began underwriting previously unrated municipal bonds, in essence, financing large government projects which other Wall Street firms said couldn't be done.
These novel bond sales helped revive New York City's crumbling subway system, and they provided funding for the City University of New York and other major projects.
The market in unrated and low-rated muni bonds took off, earning Fitts the title of "Wonder Woman of Muni Bonds," in a glowing Business Week article (February 23, 1987).
In 1989, she was asked to become the Federal Housing Administrator under HUD Secretary Jack Kemp. Fitts moved to Washington to undertake the monumental task of reforming the scandal-ridden, fraud-plagued agency.
More @ conspiracydigest.com (http://www.conspiracydigest.com/bushwhacked.html)