The article in the above link pretty much says it all. It highlights two movies — The Big Short and 99 Homes — to show the proliferation of scams that enabled the government and the banks to make it appear that there was government intervention. Like securitization, servicing, and trusteeship of fake trusts, it was and remains a complete illusion.
The bitter truth is that the Banks intentionally convoluted their scheme such that it would take intensive study, experience, training and knowledge to even pierce the first layer of their bogus scheme based mostly on a conventional Ponzi Scheme. Practically nobody in government, law enforcement or anyone else was willing to invest the time and energy. I am currently writing my own book designed to help people understand but more importantly what they can do about their situation when some stranger comes to evict them from their home.
The closest we have come to getting some revelation about the 2008 massacre are the movies that nibbled at the edges. The Big Short is somewhat informative and comedic in its mode. The movies are entertainment — not the opening or closing statement in a court of law. Don’t mistake the information in the movie as anything close to evidence that is admissible in court.
What they say is mostly true but it isn’t evidence — especially in the hostile environment of judges on state and federal benches who refuse to even consider the idea that homeowners were deliberately seduced into executing paperwork they could not possibly understand, thus rounding out the scam pulled on investors when they were supposedly sold certificates and were later described as certificate holders (in a completely empty trust).
Filed under: foreclosure