They Just Don’t Get It: Meltdown Primer

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Editor’s Analysis: Reynaldo Reyes, the asset manager for Deutsch that pretends to be a trustee of non existent unfunded trusts said it best: “it’s all very counter-intuitive.” In reality he was giving a clue. It isn’t that we haven’t yet unravelled the tangled web of deceit and exotic financial instruments and absurd risk taking. It all boils down to one thing: it doesn’t make sense, it was illegal from the start and it will never make sense. The reason it is counter intuitive is that there is no explanation except lying, cheating, stealing and cover-ups.

Whether you start from the top down, the bottom up or even start in the middle and spread out to the top and bottom, there is no connection between the money trail, the promises and representations made, and the document trail which proves beyond a shadow of a doubt that theft, breach of fiduciary duty, breach of contract, fraud, theft and cover-up were at the heart of what Wall Street called a securitization plan but which in practice was not securitization of credit but rather a PONZI s scheme completely dependent upon more investors buying bogus mortgage bonds. The crash didn’t happen because of mortgage de faults. It happened because investors stopped buying the bogus mortgage bonds. That is the red flag on all Ponzi Schemes. When people stop buying and start demanding their money back, the scheme collapses.

Under normal circumstances, the perpetrators — Madoff, Dreier, Stanford et al — go to jail, a receiver is appointed and the receiver does the best job possible of clawing back all the illicit gains, profits and accounts of the perpetrators. That is what should happen with he mortgage mess but that would mean admitting that the judicial system let millions of foreclosures go through the system because of bad lawyering, bad representation by pro se litigants and bad practices by the bench which failed to see the correct chain of title and then failed to inquire why not. —-

YES that IS the way it was. When I represented banks and HOA foreclosing on their liens, if I didn’t have my paperwork in order, the Judge sent me back to do it right — even if the other side didn’t show up. Why? Because the Judge understood that bad paperwork means bad title and that dozens of others could be effectively defrauded by allowing a bad foreclosure to proceed to sale, allowing an unproven creditor to submit a credit bid, and allowing a homeowner who legally still owned the home after the foreclosure to be evicted.

Back in those days certain presumptions applied — legal or informal — that the debt was real, the note was valid, and the mortgage was perfected. it was further correctly assumed that the borrower was in default.

The problem is that the old presumptions and assumptions remain while the facts are wildly different than the old-style foreclosures. Instead of the Judge being able to peruse the documents behind the mortgage, he must either accept the proffer of the facts from the lawyers for the foreclosing entity or have an evidentiary hearing, which he certainly doesn’t want on his calendar because all his other cases would pile up in a bottle neck. Thus lying in court became an acceptable substitute for having the right verifiable paperwork.

People ask me — how do I prove this? Lawyers ask me the same question. My answer is spend the daily rate for Lexus-nexus and get cases on point in your jurisdiction. They will say that where the facts and documents are uniquely within the knowledge and custody of the the defendant, the appropriate remedy is discovery and that the respondent to discovery has a higher duty to provide clear, concise and  extensive answers. In short, the burden of persuasion changes to the the foreclosing party — whether you are in a judicial or non-judicial venue.

Any other approach would have the Judge making findings in the absence of real evidence and actual facts, which is exactly the problem in the current judicial climate, although the tide is definitely turning in many states.

A quick look at the reality of the Ponzi scheme reveals the true nature of the illegality that the regulators and law enforcement faced, understaffed and underfunded against a well staffed and over-funded banking sector.

Let’s start in this article from the top. There the investment banking firm forms what appears to be a REMIC trust and they create a selling entity to put some distance between the investment banking firm and the actual sale. The sale takes place, to wit: the investors gives the investment banking money and the investor gets either a certificate (rarely) or some acknowledgment ina statement that the investor is now the proud owner of an interest in a REMIC trust governed by the REMIC provisions of the internal Revenue Code, which allows the REMIC trust to be a tax-exempt entity meaning the flow of funds from investments by the REMIC will only be taxed once even though it is coming through another entity. If that were true, there would be no problem. The problem is that it is not true and for the most never was true and never was the intent of the banks.

So to recap thus far, the money went from the bank account of the investors to the bank account of the investment bank or to an entity wholly controlled by the investment bank. Where it did NOT go was into a trust account wherein the Trustee for the REMIC pool would collect and disburse all funds, receipts and disbursements as set forth in the investor prospectus and pooling and service agreement.

If you look at the Taylor Bean and Whitaker setup, you’ll see, as Dan Edstrom has pointed out, that the money was instead put into a vast commingled account which they called a custodial account, but they never state for whom they are the custodian. And that is because they were skimming the money in a tier 2 yield spread premium and other “proprietary trading” also known as three pocket Monty — you take the money out of one pocket to transfer it to another pocket but on the way a few dollars drops into a secret third pocket. This vast Superfund was used as a TBW piggy bank as well as the source of funding for mortgages.

Without getting into the farce of “proprietary trading” being the cover for outright theft of investors money, let’s look at what happened next with the money.

People with the right connections were told to create mortgage origination companies. These companies would act as the payee on the note and the secured party on the mortgage or deed of trust, but they would never ever be allowed to touch the actual funding of the mortgage nor would they have the right to make a loan that would fall under the provisions of the assignment and assumption agreement signed with the aggregator (Countrywide, for example). SO XYZ company is created and they have a bank account and all that but the funding of the mortgage never touches the bank account of XYZ or any person associated with XYZ. The simple reason is that Wall Street being composed largely of thieves, understood that when the balances became high enough in the originators accounts, many if them would abscond with the money. So the wire transfer was made directly from the Superfund account (euphemistically referred to as a warehouse credit facility set up solely at the discretion of the aggregation (e.g. Countrywide.).

It was the coincidence of timing that convinced the closing agent and the borrower that the money had come from the “lender” identified on the disclosure paperwork and in the note and mortgage, when in fact, the originator was a mere nominee working for a fee. The originator could not under generally accepted accounting rules, book the transaction as a loan receivable because there was no offsetting entry debiting a cash account or other account over which the originator had control. The originator had control over nothing — the underwriting, funding, approval of the loan was left to the undisclosed aggregator using a computer system designed explicitly for this purpose. Without approval from Countrywide, the originator was not permitted to communicate approval of the loan.

The real lender were the investors whose money had been diverted from the REMIC trust into the Superfund. This created a common law partnership instead of a REMIC trust. This partnership with no name was the lender but the banks made sure that the true lender in an obviously illegal table-funded transaction was never disclosed. As far as the closing agent and borrower were concerned the coincidence of having the money there at the same time as the closing with the originator was proof of enough about what was going on. After all, who would send money for a mortgage transaction unless they thought they were getting a valid enforceable note and a mortgage or deed of trust securing the provisions of that note, which was valid evidence of the debt.

Unfortunately for the investors, the banks had other ideas than using the money the way they promised in the prospectus and pooling and servicing agreement, and they had other plans than protecting the investors enforceable rights under a valid promissory note, and they had a different idea about securing a note payable to the investors with the investors having a perfected mortgage lien against the property.

Bottom Line: The wire transfer receipt shows a loan emanating from the Superfund and that the money from the Superfund was advanced by the investors, but other than the wire transfer receipts there was not a shred of documentary evidence showing that the investors were going to be repaid under the terms of the mortgage-backed bonds in the REMIC because the mortgage bonds never made into the REMIC and their money never  made it into the largely or completely unfunded REMIC trust.

On the contrary, the documents produced by the originator under direction of the aggregator who was functioning under the thumb of the investment banks, all tell a wildly different story. According to the documents, the originator made the loan and assigned or sold it to the aggregator who sold it to the REMIC, which presumably protected the investors in a round about way even if it was a lie. The main problem with the bank’s version of the story is that XYZ never got paid for the loan or mortgage in a transfer or assignment transaction. And the aggregator never got paid by the REMIC trust for the loans either. The lack of consideration is not merely a technicality but rather part of a larger plot to steal from investors and homeowners.

The trust reposed in the banks by investors and homeowners alike basically was like putting red meat in front of a lion. The reason for the subterfuge was that the banks wanted to and did in fact get away with borrowing the loss of the investors by pretending to be the owner of the loans for a temporary period of time. By doing that they had what appeared to be ownership, proof of loss, albeit without any proof of payment. Now the insurers and credit default swap parties are hip to this trick and suing the investment banks.

The net result is that the actual financial transaction is largely undocumented, unsecured, and unenforceable in terms of method of repayment. The debt to investors (not the REMIC trusts) exists — less the insurance, CDS and bailouts received by the agents of the investors — but it is not documented. Conversely, the documented transaction lacks consideration of any kind, thus describing a financial transaction that never actually occurred. Any assignment therefore was pure lies and hype, since the reference was to originating documents that were procured by misrepresentation or fraud, without consideration, and obviously no perfected lien, which is not subject to nullification of instrument.

The banks and regulators and law enforcement don’t like my explanation because it would require them to do their work, and the people in charge of the banks to go to jail, costing a could of hundred millioin dollars to prove the case against the right people. Whether they like it or not, the regulators and law enforcement needs to do their job or face recriminations from the public once the true nature of this scheme is fully revealed. And make no mistake about it. I am not the only one who knows. The truth is coming out and that is why Judges are turning.

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40 Responses

  1. Ray Shelton, on December 19, 2013 at 12:20 am said:

    US Bank and SN Servicing has submitted Forged documents in our federal bankruptcy case too and we will never stop perusing them in court for damages. We are also asking our Federal judge to prosecute their current attorney out of Jacksonville Florida who continued to defend this case knowing that forged document are before a federal court. All the offending parties at SN Servicing and their attorneys are committing a serious crime against our country. We have filed a formal complaint with the FBI and the US attorney general and many great Judges all across this nation are finally stopping them from this kind of fraud on American families. US Bank and SN servicing and their attorneys are also violating a serious consent order that was to protect the people from these crimes but they could care less. Please feel free to have your clients join a class action suit so that we can end their behavior with a multi billion dollar punitive damage suit. Join us, call Ray Shelton in Florida at 352 274 8467

  2. [...] is that there is NO explanation except lying, cheating, stealing and cover-ups! From the top down, the bottom up or even start in the middle and spread out to the top and bottom, there is no connection between the money trail, the PROMISES AND REPRESENTATIONS MADE, and which in practice was not securitization of credit but rather a PONZI scheme completely dependent upon more investors buying BOGUS MORTGAGE BONDS. Boiling down to one thing; ” it doesn’t make sense, it was illegal from the start and it will never make sense!” http://livinglies.wordpress.com/2013/01/22/they-just-dont-get-it-meltdown-primer/ [...]

  3. This former Rabbi has some news in line with the videos below:

    above is from a link at bottom of below page:

    http://www.veteranstoday.com/2013/01/22/sheriffs-open-letter-to-obama-lock-and-load-time/

    NOTE: There are several people commenting under “GUEST”

  4. Stripes is a nitwit.
    Unless “Germans’ is a Euphemism for J E Ws..

    The same folks that established Communism, and looted the assets of the USA and wired them to Israel via Madoff ($85 Billion) and Lehman ($400 Billion filed missing 1 day before filing BK.

    Thats not counting the $2 Trillion spent to prop up an Apartheid State in sol called foreing aid, largest of all recipients, for this Monica Lewinsky type relationship that we get nothing from, but grief.

    Sorry the truth is not polite.

  5. The Germans via their traitors from within America, the Deutsche Verteidigungs Dienst via their Illuminati and Zionist perps, robbed the American people of gazillions and destroyed the value of everything. They are all GREEDY, Communist crooks who used Socialism to create TOTALITARIANISM … The crony capitalist socialists want to stop short of Complete Communism but the intended failure of socialism cannot be corrected. We must restore our Constitutional Republic.

  6. Apparently Lani Breuer believes NO Criminal Cases can be brought against Bank & Wall Street execs because ……IT IS HARD TO PROVE THEY DID ANYTHING WRONG…..! MWAHAHA ..

    REALLY NOW….? QUICK QUESTION FOR MR BREUER & MR HOLDER….

    WHERE ARE THE LEGAL ASSIGNMENTS …..?

    WHAT MORE PROOF DO THEY NEED THE BANKS AND THEIR OWNERS MISLED INVESTORS AND WARRANTEED THEIR OFFERINGS AS AAA RATED SECURITIES AND THEY KNEW THEY WERE NOT ONLY ISSUING INVESTMENTS IN UNCERTIFICATED SECURITIES…..BUT OVERISSUING THEM ON STEROIDS……AND THEY WERE IN REALITY Baa rated JUNK BONDS…..& THE NOTES WERE NOT WORTH THE STOCK CERTIFICATE PAPER THEY WERE PRINTED ON…THEREFORE THEY ARE CROOKS WHO NOT ONLY MISREPRESENTED WHAT THEY WERE SELLING ….. BUT NEVER OWNED WHAT THEY WERE SELLING……& DO YOU MEAN TO TELL ME AIG DID NOT KNOW INSURING $600 TRILLION DOLLARS WORTH OF CREDIT SLIPS WAS NOT WILDLY CRIMINAL…..?

    TO SAY JAILING THESE CROOKS WOULD CAUSE AN ECONOMIC COLLAPSE IS SIMPLY WARRANTLESS FEAR MONGERING….1500 BANKERS WENT TO PRISON FOR THE S&L CRISIS & AMERICA IS STILL STANDING…AND THE BANKS…THEIR OWNERS & WALL STREET ARE FATTER THAN EVER…

  7. HOW COULD THERE BE ATN ECONOMIC COLLAPSE IN THE UNITED STATES OF AMERICA….THE RICHEST NATION ON EARTH…. ?

    THE UNITED STATES, THE LAND WHERE ALL OF THESE COMMIE BANK WHORES AND THEIR CRONY CAPITALIST MINIONS AND COHORTS HAVE GOTTEN UBER RICH OFF OF THE BACKS OF WE THE PEOPLE BY STEALING FROM US AND FRAUDULENTLY INVESTING IN US IN THE THE LAND FROM WHERE OUR FATHERS HAVE FOUGHT AND DIED TO KEEP US FREE FROM SUCH DICTATORS….?

    THAT CAN HAPPEN ONLY IF IT IS MANUFACTURED BY THESE VERY COMMUNIST CROOKS WHO ROBBED US TO FRAUDULENTLY INDUCE A TOTALITARIAN DICTATORSHIP AND THAT COULD ONLY BE ALLOWED BY SCUMBAG TRAITORS FROM WITHIN ……

    STOP PAYING AND COOPERATING WITH THESE GLOBALIST COMMUNIST CROOKS AMERICA…!

  8. It sure seems Max Keiser is fighting for the biggest investors in this scam…THE BANK OWNERS….I bet he is getting paid EXTREMELY well for disguising who he really works for and being the pot calling the kettle black….THESE ORDERS CAME FROM THE TOP….THAT IS THE ONLY WAY MAX KEISER GETS AWAY WITH THIS CRAP…HE IS A TRAITOR TOO….HE BLAMES EVERYONE BUT THE BLACK NOBILITY…ITS OBAMA…..ITS BLANFEIN…DIMON….ON & ON BUT AVOIDS TELLING IT IS THE CROOKS AT THE TOP OF THE PYRAMID SCAM THE BLACK NOBILITY….THE GERMS …THE SWISS BANKERS….THE CHINESE…..THE ROTHSCHILD SCAMMERS…THE JESUITS RUNNING THE VATICAN FROM BEHIND THE SCENES…..ALL ORDERED THIS HIT ON THE AMERICAN PEOPLE…..SCREW YOU MAX KEISER..

  9. Screw Germany …. they robbed US TOO…

  10. U.S. $ bracing for total collapse as Germany Wants Its Gold Back From the Fed (which has probably stolen it already)

    Keiser Report: Goodbye, German Gold? (E358)

  11. It is really puzzling to see states still haggling over points of details rather than tackle the main issues. Just compare how far behind OH or NY GA is (along with most southern states) in understanding the magnitude of the problem. Then again, much fewer people fight in court in those states. The shame still runs deep in the Bible Belt. Progress always seems to come from the north.

    Georgia Foreclosure Law In The Wake Of Recent Decisions
    Case Law
    Tuesday, January 22nd, 2013

    There has been recent upheaval in Georgia foreclosure law resulting from several key cases decided in 2012. We do not summarize the cases here, but rather seek to analyze their decisions’ impact on Georgia’s non-judicial foreclosure process while we await the Georgia Supreme Court’s response.

    Reese v. Provident Funding Associates, LLP, 730 S.E.2d 551, 317 Ga. App. 353 (Ga. Ct. App. July 12, 2012)

    In a sharply-divided decision, the majority held, as a matter of first impression, that Georgia’s foreclosure notice statute, O.C.G.A. § 44-14-162.2(a), requires the person or entity conducting a non-judicial foreclosure of a residential mortgage loan to provide the borrower/debtor with a written notice of the foreclosure sale that discloses not only “the name, address, and telephone number of the individual or entity who shall have full authority to negotiate, amend, and modify all terms of the mortgage with the debtor” (the language that appears in the statute), but also the identity of the “secured creditor” (not required by the statutory language, but which the majority inferred based on legislative intent).

  12. If you are in FL and were discriminated against by CW, don’t miss the deadline to file your claim.

    Urgent Notice – January 25, 2013 Deadline for Countrywide Discriminatory Lending Settlement Claim

    Cross posted from the Law Offices of Evan M. Rosen

    In December of 2011, the Department of Justice (DOJ) reached a $335 million dollar settlement to resolve allegations of lending discrimination by Countrywide Financial Corporation. Countrywide was charged with steering African-American and Hispanic borrowers into loans with higher fees, higher interest rates, or other sub-prime loan features, simply because of a person’s race or national origin. Skin color, not credit worthiness, was the determining factor for the higher cost loan.

    After finalizing the settlement, the DOJ conducted a statistical analysis of millions of Countrywide loans. The DOJ compiled a list of eligible African-American and Hispanic borrowers who obtained a Countrywide loan which contained higher costs and less favorable rates than loans extended to similarly-qualified non-Hispanic white borrowers during the time frame from 2004 through 2008. Either a borrower is on this list or not. There is no dispute process. Settlement notification letters were mailed in November 2012. The quickly approaching deadline to return a settlement claim is Friday, January 25, 2013.

  13. Condo association v. mortgagee. Condo wins. Unfortunately, homeowner caught in the crossfire was not a party to the action since he had long lost his condo. That is in line with a previous post by NG on the raging battle between HOA and banks.

    THOMPSON GARDENS WEST CONDOMINIUM ASSOCIATION INC v. MASTO

    THOMPSON GARDENS WEST CONDOMINIUM ASSOCIATION, INC. v. Daniel MASTO, et al.

    No. 33771.

    Argued Oct. 18, 2012. — January 22, 2013
    DiPENTIMA, C. J., and BEAR and BORDEN, Js.

    Nicholas F. Bombace, with whom, on the brief, was Jonathan A. Kaplan, for the appellant (substitute defendant Deutsche Bank National Trust Company, as indenture trustee).Scott J. Sandler, with whom was Kasey Procko Burchman, for the appellee (plaintiff).

    The defendant Deutsche Bank National Trust Company (Deutsche) appeals from the judgment of the trial court denying Deutsche’s motion to open and vacate the judgment of strict foreclosure rendered in favor of the plaintiff, Thompson Gardens West Condominium Association, Inc. (association), on an East Haven condominium unit then owned by the named defendant, Daniel Masto.1 The controlling issue in this case is whether the trial court, pursuant to General Statutes § 49–15, properly concluded that, because service properly had been effectuated on New Century Mortgage Corporation (New Century), the mortgagee listed on the land records, in accordance with the statutory requirements, it did not have jurisdiction to grant Deutsche’s motion to open the judgment of strict foreclosure, filed nearly eight months after judgment had been rendered in this strict foreclosure action and nearly six months after title had vested in the association.2 We agree with the court that it was without jurisdiction to grant the motion, but conclude that because there was no practical relief available to Deutsche, the court should have dismissed the motion to open instead of denying it.

    The record reveals the following relevant facts. The association brought an action to foreclose a lien on Masto’s condominium unit, bearing a return date of April 27, 2010. The association also named in its complaint New Century, the record mortgage holder listed on the land records. New Century was served by a state marshal, via certified mail, in accordance with General Statutes § 33–929, and the state marshal received a signed return receipt dated April 9, 2010.3 In addition to the signed return receipt, the association also received a facsimile from someone purportedly acting on behalf of the “New Century Liquidating Trust” (trust), asserting that service of process was “ineffective” because New Century had filed for bankruptcy protection4 and had transferred or sold all of its loan accounts (facsimile).5 Neither Masto nor New Century appeared before the trial court, and they were defaulted on May 11, 2010.6 On June 15, 2010, the court rendered a judgment of strict foreclosure,7 and, on August 12, 2010, after Masto and New Century failed to redeem, title to the condominium unit vested in the association.

    … In the present case, service of process properly was effectuated on New Century, the mortgagee appearing in the land records, in compliance with the statutory requirements, and, accordingly, the court had personal jurisdiction over New Century. Therefore, at the time Deutsche filed its motion to open the judgment of strict foreclosure, nearly six months after title had vested in the association, there was no practical relief that could have been afforded to Deutsche by the trial court without violating § 49–15. See Argent Mortgage Co., LLC v. Huertas, supra, 288 Conn. at 581–82, 953 A.2d 868. In light of that fact, the court properly determined that it was without jurisdiction to open the judgment. Accordingly, after determining that service of process was properly effectuated, instead of denying the motion to open, the trial court should have dismissed it. See id.

    The form of the judgment is improper, the judgment is reversed and the case is remanded with direction to dismiss Deutsche’s motion to open the judgment of strict foreclosure.

    In this opinion the other judges concurred.

    FOOTNOTES

    1. Masto is not a party to this appeal and did not appear in the trial court. Approximately five months after the judgment of strict foreclosure had been rendered, Deutsche was substituted as the party in interest in place of the defendant New Century Mortgage Corporation.

  14. What they really want to do is use their manufactured financial crisis to create TOTALITARIANISM ……COMPLETE COMMUNISM..

    Rahm Emanuel said…”Never let a good crisis go to waste.”

    These bank owners hide behind the scenes and use their own manufactured crises to steal everything from us and create their ultimate goal…TOTALITARIANISM …

  15. True..

  16. “I AGREE WITH KUDLOW …” Great minds think alike.

  17. Or dole out glorified Medicare as an alternative to private healthcare to anyone, at any age…..GOOD LORD NO…!…OBAMACARE IS NO MORE THAN COMMUNIZED MEDICAL CARE….IT IS DANGEROUS AND EVIL…

    KUDLOW RIPPING ON OBAMA FOR TRYING TO TAKE THE FOUNDERS WORDS & MAKE IT SOUND LIKE WHAT THEY MEANT BY EQUALITY WAS EVERYONE MAKING THE SAME AMOUNT OF MONEY & HAVING THE SAME……GUESTS CALLING IT CIVIL RIGHTS RHETORIC….KUDLOW CALLING IT EUROPEAN STYLE SOCIALISM …..I CALL IT TOTALITARIANISM …

    I AGREE WITH KUDLOW …..THE FOUNDING FATHERS MEANT WE ALL HAVE AN EQUAL RIGHT TO BE FREE TO PURSUE LIFE, LIBERTY & THE PURSUIT OF HAPPINESS……AND THESE CRONY CAPITALIST CONTROL FREAKS WISH TO DESTROY THAT…

  18. NO ONE should ever have to depend on the corrupt politicians to GOD FORBID … “take care” of them when they are old..

  19. No Christine they can’t think of pensions and retirement later. People worked their entire lives for that and it was stolen by these bankster crooks. People already worked their asses off. The best years to earn money are in your youth in most cases. People need to be justly and equitably compensated for these intended crimes against them.

  20. Actually, Java makes a lot of sense. People need to keep their house. They can always think about retirement and pensions later, when their most basic and immediate food-shelter needs have been satisfied. Because even in a bankrupt country, as long as you have shelter, you have a crack at surviving.

  21. The robbery of the American people into fraudulently induced poverty is a national security issue. Half the country doesn’t see this. That is why they want our guns for the day the other half of the country realizes they are slaves to this evil.

    There is no logical reason as to why the FED was given $60.4 trillion dollars in our wealth and 20 million of our properties as reported by CNBC since Obama took office. There is no logical explanation other than this is pure evil.

  22. java- get outta town (just kiddin) its a national security issue now.

  23. i hear you Christine- and i dont profess to understand all the whys n wherefores, this time is different, not like anything befor, but the people can damage limit if we are all smart together, as for rule of law this is where my real fear lies, i wrote Tom Horne AZ atty G, i probably said too much but if there is no due process and justice is reduced to their interpretation of the “color of the sky” then theres no protection at all for the anyone that has no gold. HOWEVER i think positive and belief creates what you believe, so i believe, there will be a move towards jailing a few, i believe we can at least damage limit but to do so we all have to fight hard, for ourselves and those that cant , wont and dont care. thats the way it is.

  24. That is what they fear….MORAL HAZARD…….the day the sheeple realize it is the owners of the banks who are predators with no morals and they set out to destroy you with your signature….without your knowledge.

  25. People just don’t “get it” ….Precisely….WHAT IT IS…that is the key to this entire control freak scam…..that WHAT THIS IS IS WHAT PEOPLE “DON’T GET” …They are being deceived, seduced and/ or attacked by evil forces. THESE MORTGAGE CONTRACTS ARE IMMORAL BUT PEOPLE DON’T SEE IT……THEY FEEL A MORAL OBLIGATION TO KEEP PAYING IMMORAL PEOPLE TO DO IMMORAL THINGS TO THEM…. People take everything at face value. That is dangerous. Like when they told you that you signed a mortgage contract..BUT you did not know what you were signing….you took that contract at FACE VALUE….. and did not know what was underlying that contract was a contract with EVIL BEYOND COMPREHENSION…THAT MORTGAGE CONTRACT WAS AN EVIL MIND CONTROL MECHANISM….that was the day EVIL made you believe they owned you and took mind control of your life…….they had your trust and that deception was EVIL…..that DECEPTION WAS NOT JUST CRIMINAL…..IT WAS EVIL and that EVIL did not cost EVIL A DIME…What that EVIL really did was take that fraudulently induced contract and use that fraudulently induced contract against you. They used that contract to control you and destroy your life and steal all your freedom and independence from you.

  26. ……this is also why there is soo much divorce and other abuses. People punish themselves and others to make themselves feel better. It is a shallow fix for their own misery and it is being inflicted by an unseen and unknown enemy.. People don’t know why they feel so empty inside…..They are being seduced, medicated and mentally abused by unknown evil forces. That is what happens when evil behavior becomes the NEW NORMAL….

  27. People do not recognize the evil they are under the influence of. What is controlling them. CNBC has a name for this..MORAL HAZARD….That is the day the American people come out of whatever ether they are under and realize…. THESE ENTITIES ARE ALL CLEVER CROOKS…THEY SCREWED ME… WHY AM I PAYING CROOKS MY HARD EARNED MONEY? WHY AM I PARTICIPATING, COOPERATING, COMPLYING & CONFORMING WITH THESE CROOKS……THESE PEOPLE ARE EVIL… THAT GOES FOR ANYONE UNDER THE INFLUENCE OF THEIR DRUGS, WHETHER IT BE MONEY….OR SOME OTHER LUXURIES THAT SUDDENLY BECOME UNFULFILLING…….LIKE WHEN THE JUDGES AND THE DOCTORS AND THE LAWYERS AND THE COPS REALIZE THEY ARE ALL SLAVES TO EVIL…That is when the evil spell is broken. WHEN EVERYONE GETS THEIR MORALS BACK….THAT IS THE REAL HAZARD….When they can’t seduce people anymore with crumbs and creature comforts and people realize these things are NOT FREEDOM…THESE PEOPLE BEHIND THIS….THE SELF APPOINTED POWERS THAT BE ARE CONTROL FREAKS AND IN REALITY….THEY ARE ALL LIARS & THEIR ALL FULL OF IT….THAT IS THE DAY YOUR LIBERTY IS RESTORED AND YOU BECOME FREE.

    To the comment on Ms. Baird….she flip flops a lot. She gets it but, she is being controlled by this evil as so many are. Take away her cushy whatever they are giving her and she could devour them. Like Ms. Shapiro got millions from the banks upon her departure. Bill & Hillary Clinton got their big payoffs after his Presidency and so on. These people are SELFISH and think of NO ONE but themselves. Even those ENTITLEMENT PEOPLE …..THE PUBLIC SECTOR PENSIONERS & WORKERS FOR THIS EVIL CORP….or the millions who are working for peanuts are seduced into the belief they will “work their way out of this” they are BRAINWASHED & SEDUCED BY SELFISH THOUGHTS THAT NEVER MATERIALIZE…even when they come in and out of their spell they will take their misery out on others until THEY COME OUT OF THE ETHER….

  28. hey the appraisers? i understand they sent in a petition with 8000 sig. but did they stop making the appraisals???? maybe if they would have stopped this would not be happening

  29. Pretty darn hard to remain positive in that kind of a legal environment…

    Diane Hathaway, Michigan Supreme Court Justice, Charged With Fraud

    By ED WHITE 01/19/13 06:39 PM ET EST AP

    DETROIT — Federal prosecutors have filed a fraud charge against Michigan Supreme Court Justice Diane Hathaway, just a few days before she leaves the state’s highest court in a scandal involving the sale of a Detroit-area home and suspicious steps taken to conceal property in Florida.

    The charge was filed Friday as a criminal “information,” which means it was negotiated and that a guilty plea is expected in federal court. Defense attorney Steve Fishman declined to comment Saturday.

    Hathaway is resigning Monday, months after a series of questionable real estate transactions first were revealed by a Detroit TV station. Hathaway and her husband, Michael Kingsley, deeded a Florida home to Kingsley’s daughter while trying to negotiate a short sale on a house they couldn’t afford in Grosse Pointe Park.

    In a short sale, a bank agrees to a sale that wipes out any remaining mortgage, a significant benefit for any borrower. The 2011 deal went through and erased the couple’s $600,000 debt in Michigan. Five months later, in 2012, the debt-free Windermere, Fla., home worth more than $600,000 went back in their names for $10.

    The bank fraud charge says Hathaway made false statements to ING Direct, transferred property to others and failed to disclose available cash – all in an effort to fool the bank into believing she had a severe financial hardship. Kingsley, also a lawyer, has not been charged.

    Hathaway has refused to make any lengthy public comments. She told WXYZ-TV last spring that the property shuffles were a private matter.

    The maximum penalty for bank fraud is 30 years in prison, although that would be a rare punishment for anyone and very unlikely for Hathaway. Nonetheless, some time in custody should be expected, predicts former federal prosecutor Lloyd Meyer of Chicago.

    “Any bank robber who robs a bank with no gun and just a note goes away to prison. A judge who steals over half a million dollars should enjoy the same fate,” said Meyer, referring to the amount of debt written off after the short sale. “As a former federal prosecutor, it would be unthinkable to have this type of defendant get a slap on the wrist.”

    U.S. Attorney Barbara McQuade declined to comment on Hathaway’s possible punishment or other aspects of the case. The case is assigned to U.S. District Judge John Corbett O’Meara in Ann Arbor.

  30. We need points and authorities. Would it be possible to create a database referencing states, servicers, trusts, and investors (from SEC filings)? Share the wealth of proof (and victories) that will lead to the truth.

  31. To Jan van Eck

    What is SO Limit in those theories? One year?

  32. Dear editor

    The folks that set this scheme up don’t care and that includes our benevolent federal government.

    At naked capitalism today there’s a link showing Sheila Bair opining that we need a way to streamline the foreclosure process!

    Ha! They took my property in 2 weeks nonjudicially with Linda greens help and a lost note affidavit. What could be more streamlined than that except doing away with private property altogether

  33. This is a level of evil most people do not see. They have all the time and money in the world to get us to accept this evil …totalitarianism.. This is all coming from the dark side of the esoteric world. They have the most diabolical minds in the world. They have think tanks and trolls completely devoted to getting everyone on board with this evil. Study the dark side so you know your enemy….what it wants and how it works to acheive its goal…..BY MAKING YOU BELIEVE LIES…Then you can liberate yourself from them … set your goal and stay focused on your goal for a greater good like your freedom from these evil control freaks and all their evil machinations they will try to use to entrap you with many of their evil snares…

  34. It is a bit hyperbolic to say “Judges are turning.” It would be more accurate to say, “Some Judges are turning.” These are, for the most part, in New York (specifically New York City), New Jersey, and Ohio (specifically, Cleveland). The acknowledged leaders are Judges Boyko in Cleveland [USDC} and Schack in New York (Brooklyn, Kings Cty). Unfortunately, in other States, specifically Minnesota and the Pacific Northwest (Washington, Oregon, Idaho) the foreclosure land courts are dominated by old men who remain in a mental fog, and no amount of defendant evidence seems to matter in the slightest.

    My personal solution to this is to sue the bankers and their attorneys under theories of Entry and Detainer (where a property is entered and the locks changed) and theft by conversion (where the taking is sufficiently long as to make it reasonable to require the taker to pay for it). What makes this interesting is that such claims attract double or treble damages, based on the reasonable value of the property, not some hypothetical equity number. As these are common-law remedies (albeit with Statutory damages provisions) you get out from underneath the knotty problem of holding a “National Association” bank being exempt from State unfair debt collections practices violations, and you stay in State Court if you do not put a number on the damages in the Complaint, merely assert that they are above the threshold level that gets you into the State trial court system.

    These are particularly potent weapons in non-judicial “sale” cases; at that point, who cares about the house? The serious coin comes from the jury’s wrath. Once entry is established, and conversion by sale is an undisputed fact, you can get partial summary judgment as to liability by Motion practice, and then all that is left for the jury is to fix the money penalty. Sock it to them. When in doubt, file suit.

  35. Deb,

    We are dealing with something ,monumental that affects every aspect of our societal systems. Remember when I dug out the connection between LPS and Docx and how, systematically, it sent me to a Microsoft connection? Everything is tied together. Including Pharma, Monsanto, the military, NASA, government, etc. Two things are holding it together: Microsoft (computers programs that allow to transfer numbers and figures from o0n field into the other at the touch of a button) and money. You can’t go after one without going after the others.

    No one right now has any idea how to he multi-head monster that has been created without risking the collapse of our entire world. Everything is an attempt at kicking the can down the road a little farther, whether it be here, in Europe or in Asia, while trying to distract people from the enormity of our colossal mess. We, as a species, have gone too far to be able to return to anything sustainable and no one has the guts to tackle down the problem once and for all. it is worldwide. It is being played and analyzed at the world level. Hence the global push to speed a return to gold-back money. Until that is in place, nothing else can be tackled. It is way beyond our control.

    All we can do, at our individual level, is wager our own individual battle against our own bank/mortgage servicer and hope that, by the time it goes before the judge, enough will be known for him to make the only moral and humane decision: find in our favor and let the other chips fall where they may. Complete disclosure is the only way but it is premature until fiat money has been resolved worldwide. And in the meantime, we have to keep fighting.

  36. You know when the day finally comes. The bad guys will just say they were following orders and no one man could have stopped it as it was a national security issue.

    Everyone should keep their houses although it may be at expense of pensions, retirement , etc……

  37. and i do not believe its too late to try these criminals, thing is who goes to jail, there are a lot of them, what about those who looked the other way, knowing the consequences.

  38. yes im happy to see it now people are getting it, even in the hospital where i work with thousands that not only lost their homes but their 401k has lost a fortune- heck they want to know why, these are smart people and they are doing the research, this is uplifting for me to see after 5 years of fighting.

  39. “The reason it is counter intuitive is that there is no explanation except lying, cheating, stealing and cover-ups.”

    ‘Nuff said. Just keep fighting. Eventually, it will start sticking.

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