tag:blogger.com,1999:blog-45002621054423764192024-03-14T14:31:13.825-04:00The Mortgage Corner FORUMAn interactive site for comments and opinions on the Mortgage and Real Estate industries. An attempt to publish the truth as it relates to all Americans and expose main stream media's sensationalistic and seemingly controlled reporting of the "real facts".
As the economic crisis evolves so does this blog. We have gone beyond just the mortgage industry in reporting or commenting on truths but that industry still remains as the foundation of this publication.Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.comBlogger174125tag:blogger.com,1999:blog-4500262105442376419.post-63618036178713286062011-04-06T11:50:00.002-04:002011-04-06T11:51:23.641-04:00Here's 60 Minutes on the Mortgage Crisis<embed src="http://cnettv.cnet.com/av/video/cbsnews/atlantis2/cbsnews_player_embed.swf" scale="noscale" salign="lt" type="application/x-shockwave-flash" background="#333333" allowfullscreen="true" allowscriptaccess="always" flashvars="si=254&uvpc=http://cnettv.cnet.com/av/video/cbsnews/atlantis2/uvp_cbsnews.xml&contentType=videoId&contentValue=50102710&ccEnabled=false&hdEnabled=false&fsEnabled=true&shareEnabled=false&dlEnabled=false&subEnabled=false&playlistDisplay=none&playlistType=none&playerWidth=425&playerHeight=239&vidWidth=425&vidHeight=239&autoplay=false&bbuttonDisplay=none&playOverlayText=PLAY%20CBS%20NEWS%20VIDEO&refreshMpuEnabled=true&shareUrl=http://www.cbsnews.com/video/watch/?id=7361572n&tag=contentMain;cbsCarousel&adEngine=dart&adPreroll=true&adPrerollType=PreContent&adPrerollValue=1" height="279" width="425"></embed><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Joycehttp://www.blogger.com/profile/00242014772865144219noreply@blogger.com12tag:blogger.com,1999:blog-4500262105442376419.post-78143147634778747542011-02-18T10:22:00.004-05:002011-02-18T10:37:09.377-05:00Mortgage Servicing Industry<a href="http://www.propublica.org/article/loan-mod-program-left-homeowners-fate-in-hands-of-dysfunctional-industry">ProPublica</a> has been looking into how homeowners have been treated in the foreclosure crisis. This article deals with how the mortgage servicing industry has dealt with struggling homeowners.<br /><br /><span style="font-size:130%;"><span style="font-weight: bold;"></span></span><blockquote><span style="font-size:130%;"><span style="font-weight: bold;">Loan Mod Program Left Homeowner's Fate in Hands of Dysfunctional Industry</span></span><br />by <a href="http://www.propublica.org/article/loan-mod-program-left-homeowners-fate-in-hands-of-dysfunctional-industry">Olga pierce and Paul Kiel - ProPublica</a><br /><br />Last February, with 6 million homeowners in danger of losing their homes, the mortgage industry was assembled at a luxury hotel in San Diego applauding themselves—literally. <p>“As a group, we owe ourselves a round of applause,” said Yvette Gilmore, vice president of loss mitigation at Freddie Mac, citing the industry’s efforts to avoid foreclosures, garnering loud clapping from the ballroom full of bank executives, lawyers and others in the industry.</p><p style="text-align: left;"><span style="font-weight: bold;">. . . .</span><br /></p>Over the past year, ProPublica has been exploring why the government’s program has helped so few homeowners. So far, we have detailed the <a href="http://www.propublica.org/article/loan-mod-program-crippled-by-lax-oversight-and-deference-to-banks/">Treasury department’s weak oversight</a><span class="print-only"> [1]</span>, and how the administration <a href="http://www.propublica.org/article/dems-obama-broke-pledge-to-force-banks-to-help-homeowners">quietly retreated</a><span class="print-only"> [5]</span> from a plan to get tough on banks. In part 3, we will discuss reforms that could lead to more help for homeowners. <p>The stories are based on newly disclosed data, lobbying disclosures, dozens of interviews with insiders, members of Congress, and others. Today we tell the inside story of what happened when the fate of struggling homeowners was placed in the hands of the industry little incentive to help: the mortgage servicing industry.</p> <hr style="width: 50%; margin-left: auto; margin-right: auto;"> <p>On paper, the government’s Home Affordable Modification Program, or HAMP, was supposed to address one of the main roadblocks to modifying loans: The banks handling most mortgages often have little incentive to avoid a home going into foreclosure since they don’t actually lose money when that happens.</p> <p>That’s because mortgage servicers, the largest of which are the nation’s largest banks, don’t own the vast majority of the loans they handle. So, they don’t bear the loss if the loan goes to foreclosure. In fact, servicers often make money from foreclosure fees.</p> <p>“Foreclosure is the path of least resistance inside a servicing shop, because once it goes into that mode, all of the costs are essentially borne by third parties,” said Horne.</p> <p>But when it comes to making modifications, servicers have to make big investments in staff and infrastructure to work effectively with homeowners. HAMP sought to defray some of those costs by paying servicers $1,000 per modification and up to $3,000 more over time if it was successful.</p> <p>Before the foreclosure crisis, mortgage servicing was a highly profitable business for large banks. They were paid a flat percentage that more than covered the cost of cashing checks from homeowners. Servicing a typical loan cost the servicer about $48 a year, according to a new Federal Housing Finance Agency analysis, while for a typical $250,000 mortgage, the servicer’s annual fee would be about $625 a year. Given the huge number of mortgages they handled, servicers made tens of billions of dollars in the years leading up to the crisis.</p> <p>Ideally, “in good times, servicers are using some of the residual income to build out systems and procedures to handle the pressures that come with worse times,” said Fed Governor Raskin. “Unfortunately, as we have seen, this has not happened.”</p> <p>Instead of investing in technology upgrades or employee training, banks pocketed the profits.</p> <p>When the default rate tripled, servicers floundered, and almost as soon as HAMP launched it became apparent they weren’t up to the job.</p></blockquote><p></p><p>Read the entire article <a href="http://www.propublica.org/article/loan-mod-program-left-homeowners-fate-in-hands-of-dysfunctional-industry">here </a><br /></p><p><br /></p><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Joycehttp://www.blogger.com/profile/00242014772865144219noreply@blogger.com6tag:blogger.com,1999:blog-4500262105442376419.post-60802852059891664952011-01-15T00:02:00.000-05:002011-01-15T00:02:02.564-05:00A Look Back<div class="Section1"><div class="MsoNormal"><span style="font-family: Verdana;"><span style="color: red; font-size: small;"><span style="color: black;">I wrote and posted this article at the end of 2008. It is interesting to look back at it as we enter 2011 - 2 years later - and see how far we have really come. Remember, at the time we were still being told that we were not in a serious recession and that the outlook for 2009 was good. </span><b><br />
</b></span></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><span style="font-family: Verdana;"><span style="color: red; font-size: small;"><b>Economic Crisis Continues and Worsens </b></span></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><span style="font-family: Verdana;">As we close out 2008 and embark on our journey through 2009 we need to evaluate what has been and where we are headed. A look at some recent economic news – while not positive – the knowledge may help us through our journey. We know for a fact that this is the worst economic crisis to hit our country since the Great Depression and could perhaps be even worse. We are all in a survival mode and to survive we need the facts.</span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal" style="margin-bottom: 7.5pt;"><span style="font-family: Verdana;">The New York Times on January 14th reported, in an article written by Jack Healy,</span> <b><span style="font-family: Georgia;"><span style="color: blue;">“<span style="color: black;"><a href="http://www.nytimes.com/2009/01/15/business/economy/15econ.html">Stocks Tumble on Retail Sales Slump</a></span></span></span></b><b><span style="color: black; font-family: Verdana;"><span style="color: blue;">”.</span> </span></b><span style="color: black; font-family: Verdana;">Here are some excerpts from this article.</span></div><div class="MsoNormal" style="margin: 0in 0in 7.5pt 0.5in;"><b><span style="font-family: Georgia;">The government reported on Wednesday that retail sales fell for a sixth consecutive month in December…..</span></b></div><div class="MsoNormal" style="margin: 0in 0in 7.5pt 0.5in;"><b><span style="font-family: Georgia;">Sales at department stores, restaurants, gas stations and a host of other retail businesses fell 2.7 percent last month — nearly double what economists had been expecting — and were 9.8 percent lower than sales last December, the Commerce Department reported.</span></b></div><div class="MsoNormal" style="margin: 0in 0in 7.5pt 0.5in;"><b><span style="font-family: Georgia;">The new retail numbers offered an epitaph for what economists and retailers called the worst holiday shopping season in decades:…</span></b></div><div class="MsoNormal" style="margin-bottom: 7.5pt;"><span style="font-family: Verdana;">The article said consumers have “holstered” their credit cards implying that many prudently withheld purchases. I believe the truth of the matter is that the credit card companies “holstered” their credit by freezing, lowering or closing consumer accounts of the average consumer. However, there are those that still do have cash purchasing power that did prudently withhold purchasing.</span></div><div class="MsoNormal" style="margin: 0in 0in 7.5pt 0.5in;"><b><span style="font-family: Georgia;">“People hunkered down pretty dramatically,” said John Silvia, chief economist at Wachovia. “Yes, everybody celebrated the </span></b><span style="font-family: Georgia;">holidays, but there was far less spending than in prior years.”</span></div><div class="MsoNormal" style="margin: 0in 0in 7.5pt 0.5in;"><b><span style="font-family: Georgia;">Consumer spending, which accounts for more than two-thirds of the economy, has slowed sharply since mid-September as the problems on Wall Street began to spread. With the uncertainty of jobs weighing on consumers, economists do not expect a turnaround anytime soon</span></b><b><span style="font-family: Georgia;"><span style="font-size: medium;">.</span></span></b></div><div class="MsoNormal" style="margin-bottom: 7.5pt;"><span style="font-family: Verdana;">If “more then two-thirds of the economy” is in consumer spending then it appears that the economists not expecting a turnaround anytime soon is accurate. This being the case then we all need to prepare for the long haul. It is going to be a rough ride.</span></div><div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">The Fed’s beige book, a regular survey of businesses around the country that was released Wednesday, indicated that the economic slump worsened in December.</span></b></div><div style="margin-left: 0.5in;"><br />
</div><span style="font-family: Verdana;">This is certainly an understatement.</span><br />
<br />
<div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">“Overall economic activity continued to weaken across almost all of the <a href="http://topics.nytimes.com/top/reference/timestopics/organizations/f/federal_reserve_system/index.html?inline=nyt-org" title="More articles about the Federal Reserve System."><u>Federal Reserve</u></a> districts since the previous reporting period.” the report added.</span></b></div><div style="margin-left: 0.5in;"><br />
</div><div style="margin-left: 0.5in;"><span style="font-family: Georgia;"><b>And the months ahead will be difficult……</b></span></div><div style="margin-left: 0.5in;"><br />
</div><span style="font-family: Verdana;">It is a valid warning to all of us. This is the reality of our current economic crisis. With so many other factors involved – <b>it is prudent to be aware.</b></span><br />
<div align="center" style="text-align: center;"><br />
</div><div align="center" style="text-align: center;"><b><span style="color: red; font-family: Georgia;"><span style="font-size: medium;">Links to other business headlines in the New York Times </span> </span></b></div><div class="MsoNormal"><br />
</div><div class="MsoNormal" style="margin-left: 229.5pt;"><span style="font-family: Symbol;">· </span><span style="font-family: Georgia;"><a href="http://www.nytimes.com/2009/01/16/business/16banking.html?src=linkedin">Rescue of Banks Hints at Nationalization</a></span></div><div class="MsoNormal" style="margin-left: 229.5pt;"><span style="font-family: Symbol;">· </span><span style="font-family: Georgia;"><a href="http://www.nytimes.com/2009/01/17/business/17markets.html?src=linkedin">Stocks Fall Again After a Hopeful Start</a></span></div><div class="MsoNormal" style="margin-left: 229.5pt;"><span style="font-family: Symbol;">· </span><span style="font-family: Georgia;"><a href="http://www.nytimes.com/2009/01/17/business/economy/17econ.html?src=linkedin">Prices Rose Just 0.1 Percent Last Year</a></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal" style="margin-bottom: 7.5pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 7.5pt;"><b><span style="color: red; font-family: Georgia;"><a href="http://www.nytimes.com/2009/01/17/business/17citi.html?src=linkedin"><span style="color: red;"><span style="font-size: small;">Citigroup Reports Big Loss and a Breakup Plan</span></span></a> </span></b></div><form><div class="MsoNormal"><span style="color: grey; font-family: Georgia;"><span style="font-size: xx-small;">By </span><a href="http://topics.nytimes.com/top/reference/timestopics/people/d/eric_dash/index.html?inline=nyt-per" title="More Articles by Eric Dash"><span style="font-size: xx-small;">ERIC DASH</span></a> <span style="font-size: xx-small;">- New York Times</span></span></div><div class="MsoNormal"><span style="color: grey; font-family: Arial;"><span style="font-size: xx-small;">Published: January 16, 2009 </span></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><span style="font-family: Verdana;">This headline comes as no surprise to me. What is surprising however is that our initial bailout program along with almost $350 billion was to shore up our financial industry. It was meant to “rescue” these behemoth banks and begin to restore our economy. What it did instead was to allow banks like this to buy other failing financial institutions, a concept I never could grasp. How does buying a <b>failing </b>business by another <b>failing </b>business serve to create a profitable one? My grade school math taught me that two negatives <b>never </b>make a positive. Obviously not the same math used by our government or the banks. Math supposedly is a universal language but there must be another universe with an entirely different set of rules.</span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><span style="font-family: Verdana;">Let’s look at some of what the article had to say. For the full story click the link above.</span></div><div class="MsoNormal"><br />
</div><div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;"><a href="http://topics.nytimes.com/top/news/business/companies/citigroup_inc/index.html?inline=nyt-org" title="More information about Citigroup Incorporated"><span style="color: windowtext;">Citigroup</span></a> capped a devastating 2008 with an $8.29 billion fourth-quarter loss on Friday, as the company comes under mounting pressure from regulators to rethink its financial supermarket model and shrink itself. </span></b></div><div style="margin-left: 0.5in;"><br />
</div><div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">Skip to next paragraph</span></b><a href="" name="secondParagraph"></a><b><span style="font-family: Georgia;">With nearly every part of the company suffering a huge blow,…..</span></b></div><div style="margin-left: 0.5in;"><br />
</div><span style="font-family: Verdana;">Continuing losses being generated while the taxpayer continues to shovel money into institutions like Citigroup. You have to remember here that they got the TARP funds with additional funds to follow. In addition, we are absorbing much of their loss. </span><br />
<br />
<span style="font-family: Verdana;">One good sign reported by <b><span style="color: black;"><a href="http://www.forbes.com/2005/03/18/cx_ab_0318video3.html"><span style="color: black;">Forbes</span>.com</a></span></b>, </span><b><span style="font-family: Georgia;">“</span></b><span class="mainarttxt"><b><span style="font-family: Georgia;">In the headlines this afternoon, the U.S. Federal Reserve has barred Citigroup from making new acquisitions until it cleans up its act”. </span></b></span><br />
<br />
<span class="mainarttxt"><span style="font-family: Verdana;">The article further went on to say, </span></span><span class="mainarttxt"><b><span style="font-family: Georgia;">“A slew of regulatory violations and scandals in the U.S. and abroad have mired the financial giant's reputation,…”</span></b></span><b><span style="font-family: Georgia;"> .</span></b><br />
<br />
<span style="font-family: Verdana;">You must wonder why we are supporting and funding billions of dollars to a company that has “a slew of regulatory violations and scandals….”. Why are the taxpayers paying for these improprieties allowing the executives to continue earning “behemoth” incomes?</span><br />
<br />
<div class="MsoNormal" style="margin-bottom: 7.5pt;"><b><span style="color: red; font-family: Georgia;"><a href="http://www.nytimes.com/2009/01/17/business/17bofa.html?src=linkedin"><span style="font-size: small;">Bank of America Posts Loss as It Gets New U.S. Aid</span></a> </span></b></div><div class="MsoNormal"><span style="color: black; font-family: Arial;"><span style="font-size: xx-small;">By </span><a href="http://topics.nytimes.com/top/reference/timestopics/people/s/louise_story/index.html?inline=nyt-per" title="More Articles by Louise Story"><span style="color: black;"><span style="font-size: xx-small;">LOUISE STORY</span></span></a><span style="font-size: xx-small;">, </span><a href="http://topics.nytimes.com/top/reference/timestopics/people/d/eric_dash/index.html?inline=nyt-per" title="More Articles by Eric Dash"><span style="color: black;"><span style="font-size: xx-small;">ERIC DASH</span></span></a><span style="font-size: xx-small;"> and </span><a href="http://topics.nytimes.com/top/reference/timestopics/people/s/andrew_ross_sorkin/index.html?inline=nyt-per" title="More Articles by Andrew Ross Sorkin"><span style="color: black;"><span style="font-size: xx-small;">ANDREW ROSS SORKIN</span></span></a><span style="font-size: xx-small;"> - New York Times</span></span></div><div class="MsoNormal"><span style="color: black; font-family: Arial;"><span style="font-size: xx-small;">Published: January 16, 2009 </span></span></div><div class="MsoNormal"><br />
</div><div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">Hours after receiving another government lifeline, <a href="http://topics.nytimes.com/top/news/business/companies/bank_of_america_corporation/index.html?inline=nyt-org" title="More information about Bank of America Corp"><u>Bank of America</u></a> posted a fourth-quarter loss of $1.79 billion on Friday, down from net income of $268 million a year earlier, in a reversal caused largely by growing consumer loan losses.</span></b></div><div style="margin-left: 0.5in;"><br />
</div><div class="MsoNormal" style="margin-left: 0.5in;"><b><span style="font-family: Georgia;"><a href="http://www.nytimes.com/2009/01/17/business/17bofa.html?src=linkedin#secondParagraph#secondParagraph">Skip to next paragraph</a> And bigger troubles came from <a href="http://topics.nytimes.com/top/news/business/companies/merrill_lynch_and_company/index.html?inline=nyt-org" title="More articles about Merrill Lynch & Co."><u>Merrill Lynch</u></a>, which Bank of America hastily snapped up in September for $50 billion. A fresh round of write-downs at Merrill pushed that firm into a $15.3 billion loss for the fourth quarter. That was the firm’s sixth troubled quarter since the <a href="http://topics.nytimes.com/top/reference/timestopics/subjects/c/credit_crisis/index.html?inline=nyt-classifier" title="More articles about the credit crisis."><u>credit crisis</u></a> began. Merrill was among the most aggressive — and most harmed — by mortgage investments.</span></b></div><div class="MsoNormal" style="margin-left: 0.5in;"><br />
</div><div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">Merrill’s results for the fourth quarter are not a part of Bank of America’s. The merger of the two banks closed on Jan. 1….</span></b></div><div style="margin-left: 0.5in;"><br />
</div><span style="color: black; font-family: Verdana;">“Hours after receiving <b>another </b>government lifeline”! Not a good sign. Not only does it bring into question our bailout program and the billions of dollars the tax payer will be paying back for generations, but it brings into question the solvency of our biggest financial institutions. With all the money being thrown at them – they are still sinking – which indicates that our economy is still sinking, perhaps quicker and deeper then we think.</span><br />
<br />
<span style="color: black; font-family: Verdana;">Now, listen to this as the article continues,</span><br />
<br />
<div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">In a conference call Friday morning, analysts asked <a href="http://topics.nytimes.com/top/reference/timestopics/people/l/kenneth_d_lewis/index.html?inline=nyt-per" title="More articles about Kenneth D. Lewis."><u>Kenneth D. Lewis</u></a>, the bank’s chairman, whether he had regrets that he had agreed to purchase Merrill. </span></b></div><div style="margin-left: 0.5in;"><br />
</div><div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">Mr. Lewis said that as Merrill’s fourth-quarter losses mounted, he did re-evaluate whether he should close the deal and whether he could renegotiate the price for Merrill. But, he said, regulators implored him to complete the transaction and said they would provide support.</span></b></div><div style="margin-left: 0.5in;"><br />
</div><div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">“The government was firmly of the view that terminating or delaying the closing of the transaction could lead to significant concerns and could result in significant systemic concerns,” Mr. Lewis said. “We did think we were doing the right thing for the country.”</span></b></div><div style="margin-left: 0.5in;"><br />
</div><span style="font-family: Verdana;">It is shocking to hear that <b>“regulators”,</b> our government, “implored him” to complete the transaction. It is even more shocking and disturbing to hear that <b>“they”</b>, the government –us the taxpayer – <b>would provide support</b>. </span><br />
<br />
<span style="font-family: Verdana;">I am outraged by this. Bank of America, who loans money and made mortgages to illegal aliens – the only lender to do so – and has credit card interest rates well in the thirty plus percent range, preying on the American public but being supported by, funded by, enlarged by and sustained by the Federal Government. There should be a public outcry over this as THIS JUST IS NOT RIGHT!</span><br />
<br />
<span style="font-family: Verdana;">But that’s not all; listen to what Mr. Lewis says:</span><br />
<br />
<div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">“This company will generate huge amounts of profit when we get a normal economic environment, not even a great one but a normal one, and so it’s almost directly related to how fast you think the economy will come back,” </span></b></div><div style="margin-left: 0.5in;"><br />
</div><span style="font-family: Verdana;">In other words, as long as we continue to support him and keep his bank in business, eventually the company will <b>eventually</b> become profitable – meaning just that much more money in terms of income and bonuses for him. Why should we be supporting two failing companies, funding their losses, just to keep them in business? I JUST DON’T GET IT!</span><br />
<br />
<span style="font-family: Verdana;">But it gets even more outrageous;</span><br />
<br />
<div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">In the conference call, Bank of America executives also discussed the government assistance that was announced overnight to help them complete the merger with Merrill.</span></b></div><div style="margin-left: 0.5in;"><br />
</div><div style="margin-left: 0.5in;"><span style="font-family: Georgia;"><b>Two weeks after closing its purchase of Merrill Lynch at the urging of federal regulators, the government cemented a deal at midnight Thursday to supply Bank of America with a fresh $20 billion capital injection and absorb as much as $98.2 billion in losses on toxic assets, according to people involved in the transaction. </b></span></div><div style="margin-left: 0.5in;"><br />
</div><span style="font-family: Verdana;">More midnight – after hours – deal making by our government, or shall I say midnight robberies of the public.</span><br />
<br />
<span style="font-family: Verdana;">It gets even more upsetting when the article continues;</span><br />
<br />
<div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">The bank had been pressing the government for help after it was surprised to learn that Merrill would be taking a fourth-quarter write-down of $15 billion to $20 billion, according to two people who have been briefed on the situation, in addition to Bank of America’s rising consumer loan losses. </span></b></div><div style="margin-left: 0.5in;"><br />
</div><div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">The second lifeline brings the government’s total stake in Bank of America to $45 billion and makes it the bank’s largest shareholder, with a stake of about 6 percent. </span></b></div><div style="margin-left: 0.5in;"><br />
</div><span style="font-family: Verdana;">Federal regulators – and I would like to know who they are, their names and positions in our government – were quoted as saying;</span><br />
<br />
<div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">“The U.S. government will continue to use all of our resources to preserve the strength of our banking institutions and promote the process of repair and recovery and to manage risks,” </span></b></div><div style="margin-left: 0.5in;"><br />
</div><span style="font-family: Verdana;">Imagine if all of us could play high stakes poker and corporate monopoly with virtually unlimited funds – we would all be rich and the economic crisis would be over. It doesn’t matter how long you lose, eventually with a bottomless pot of money you will begin to win. So it appears that our government is funding one of the biggest gambling games ever. </span><br />
<br />
<div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">Mr. Lewis had earned a reputation for taking big bets that helped transform NationsBank, a small lender, into a consumer powerhouse with bicoastal branches — and was often accused of overpaying. It snapped up Bank of America and took on its name, then followed with flashy deals for FleetBoston Financial in 2003 and then the credit card giant MBNA in 2006. That was followed by US Trust and LaSalle Bank of Chicago a year later. </span></b></div><div style="margin-left: 0.5in;"><br />
</div><div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">Last year, Mr. Lewis’s bank also bought <a href="http://topics.nytimes.com/top/news/business/companies/countrywide_financial_corporation/index.html?inline=nyt-org" title="More articles about Countrywide Financial Corporation."><u>Countrywide Financial Corporation</u></a>, the troubled mortgage giant that has come to symbolize many of the excesses of the subprime mortgage era. That made Bank of America the biggest player in every major financial service but wealth advice. </span></b></div><div style="margin-left: 0.5in;"><br />
</div><span style="font-family: Verdana;">Failing companies buying other failing companies – again, the math and logic does not work or maybe it does. Add one failing company to another you get a bigger failing company. Add to that yet another failing company and you get and even bigger failed company. Do that enough times and the government says you are now to big to fail so we will support you with debt that our grandchildren’s children can not repay. All this for the financial benefit of a very few with no benefit to the public at large. No Mr. Lewis, you are not doing this for “the country”, you are very definitely doing this for yourself with the help of “the country”. By the way, that’s me – the public - and I object!</span><br />
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<div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">After Bank of America told regulators in December that it might walk away from Merrill because of mounting losses at the brokerage, government officials said they decided they needed to take immediate action to avert a systemic risk. </span></b></div><div style="margin-left: 0.5in;"><br />
</div><span style="font-family: Verdana;">The systemic risk is allowing mismanaged corporations led by greedy, headstrong and obviously incompetent people to continue this debacle.</span><br />
<br />
<div style="margin-left: 0.5in;"><b><span style="font-family: Georgia;">Still, the Merrill deal has not been any easy deal for Mr. Lewis to digest. “He made a bet,” said Brad Hintz, an analyst with Sanford C. Bernstein & Company.</span></b></div><div style="margin-left: 0.5in;"><br />
</div><span style="font-family: Verdana;">He <b>made a bet</b> with our money and the blessing of our government - which seems to only work for the few and continues to worsen this crisis.</span><br />
<span style="font-family: Verdana;">Let’s not forget that Merrill Lynch, the failed Wall Street firm was one of the root causes of this crisis. They were at the forefront of the mortgage meltdown. They were the innovators, creators and dealers of all the toxic mortgage loan programs and securities that made them billions of dollars. Question is, where did all that money go if they are on the verge of bankruptcy? Not even the government has asked that question nor investigated their books. Hmmmm.</span><br />
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<span style="font-family: Verdana;">Yes, the betting and gambling all are being done with “our” money which the Fed can print at will. For every dollar they print, it is another dollar plus interest that we owe to this <b>“other Private Company”</b>. If gambling with our money is truly the case, and it appears as it is, then is it not a safer bet for that money to be given or made available to you and me and our neighbors? Would not that money on the street immediately turn the crisis around and put the economy on solid footing? Of course it would. </span><br />
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<span style="font-family: Verdana;">What is missing in this crisis is “money on the street”, not more credit or debt but actual cash – that same cash that comes out of thin air for Citigroup, Bank of America, J. P. Morgan Chase, Merrill Lynch, Bear Stearns and all of their respective executives (sorry Lehman Brothers, you obviously made someone angry so they threw you out of the game).</span><br />
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<span style="font-family: Verdana;">We are continuing steadily on a road to total economic destruction. There are no signs of improvement. The Federal financial experiment is failing as we, real people, are having our lives destroyed. </span></form></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com3tag:blogger.com,1999:blog-4500262105442376419.post-77543066934029431502011-01-04T14:09:00.001-05:002011-01-04T14:15:18.791-05:00The New Year Will Be Grim For ManyRecently, I had an argusation (that's a combination of a friendly argument and a conversation) with a very dear and close friend of mine. His point was that the economy is getting better (he says we are in a recovery) and many will feel the affects of this in a positive way.<br />
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My position wasjust the opposite. The real and published unemployment rate is still as high and housing prices are still falling. Not so says my friend. Where I am, he says, real estate values have leveled, there is an increase in spending and there seems to be a recovery.<br />
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Well, that may be so where you are (West Palm Beach, Florida) but it is not the case just south of you in the greater Ft. Lauderdale and Miami areas. It is certainly not the case up here in Tampa Bay where unemployment is well over 12% and real estate values in many areas have declined well over 50% with no leveling in sight. <br />
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However, my friend did concede that nationwide, real estate values would not level until the job market improves and unemployment decreases. Exactly said I, that is what I have been saying all along. We can't have any kind of real recovery until the housing market improves, foreclosures decrease substantially and the unemployment - and underemployment - situation decreases substantially.<br />
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We have, I fear, a second economic disaster looming in the "cloud" (yes, I am not sure what a "cloud" is either but it is used daily in the IT world as a place where stuff is stored...I think).<br />
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Yes, a second wave (like in a tsunami) of financial disturbances for the average person in this country and more good deals and profits for our large (too big to exist) corporations. <br />
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Of course, all of the conversation I had with my friend was only my opinion and who am I in terms of expertise on the subject (I am just one small victim of the Great Recession which in reality was and still is a Depression). As a famous political science comedian always says after his rant..."I could be wrong".<br />
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However, someone at the New York Times feels much the way I do and the New York Times itself feels it newsworthy to publish this opinion.<br />
<blockquote>When people say that the recovery does not feel like a recovery, they are describing reality. The economy is growing, but for many Americans life is not getting better. Unemployment remains high. Home values are depressed. And state budgets are in deep trouble, presaging more layoffs, service cuts and tax increases. </blockquote>The Times editorial echoes much of my conversation with my friend which also echoes much of my opinion - if not all of it. <br />
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So, my friend (I hope you still follow my blogs), do you really think things (the economy and people's lives) are going to be better in 2011? To view another opinion please read<span style="font-size: small;"> <b>The Economy in 2011 </b>in the New York Times on line...<a href="http://www.nytimes.com/2011/01/02/opinion/02sun1.html?_r=1&emc=tnt&tntemail1=y">click here.</a></span><br />
<span style="font-size: small;"><br />
</span><br />
<span style="font-size: small;">One last word of advice to those of you who represent <b>us</b> in the House of <i>Representatives</i> and the Senate (notice that the House is the House of REPRESENTATIVES). Begin your new term by truly representing the people not your own agendas be they Democrat or Republican. Leave your personal agendas and partisan politics at the front steps of the building you work in 9you know, the one with the large dome on top). This is no time to commit yourselves to defeating the other party at all costs. All Costs - in this case - means all the people of this country, especially those in the middle and lower classes you commonly refer to as the 'MAJORITY".</span><br />
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<span style="font-size: small;">Of course this is just my opinion again. I could be wrong.</span><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com2tag:blogger.com,1999:blog-4500262105442376419.post-56448846235731369002010-12-23T11:52:00.003-05:002010-12-23T12:00:25.782-05:00Residential Mortgage Rules<p> The following information by<a href="http://fedupusa.org/2010/12/22/congressmen-joining-fight-to-stop-mortgage-servicer-fraud/"> Stephane</a> is excerpted from <a href="http://fedupusa.org/2010/12/22/congressmen-joining-fight-to-stop-mortgage-servicer-fraud/">FedUpUSA</a><br /></p><h2 class="art-PostHeaderIcon-wrapper"><span class="art-PostHeader"><a href="http://fedupusa.org/2010/12/22/congressmen-joining-fight-to-stop-mortgage-servicer-fraud/" rel="bookmark" title="Permanent Link to Congressmen Joining Fight To Stop Mortgage Servicer Fraud"></a></span></h2><blockquote><h2 class="art-PostHeaderIcon-wrapper"><span class="art-PostHeader"><a href="http://fedupusa.org/2010/12/22/congressmen-joining-fight-to-stop-mortgage-servicer-fraud/" rel="bookmark" title="Permanent Link to Congressmen Joining Fight To Stop Mortgage Servicer Fraud">Congressmen Joining Fight To Stop Mortgage Servicer Fraud</a></span></h2> <p>Congressman Brad Miller is sending the following letter to the financial regulators, and is currently rounding up additional signatories:</p> <blockquote><p>The Honorable Timothy Geithner Secretary of the Treasury Department of the Treasury 1500 Pennsylvania Avenue, N.W. Washington, D.C.</p> <p>The Honorable Edward DeMarco Director (Acting) Federal Housing Finance Agency (FHFA) 1700 G Street, N.W. 4th Floor Washington, DC 20552</p> <p>The Honorable Sheila Bair Chairman Federal Deposit Insurance Corporation 550 17th Street N.W. Washington D.C., DC 20006</p> <p>The Honorable Ben S. Bernanke Chairman Board of Governors of the Federal Reserve System 20th Street and Constitution Avenue N.W. Washington, DC</p> <p>The Honorable Mary L. Schapiro Chairman Securities and Exchange Commission 100 F Street, N.E. Washington, DC 20549</p> <p>The Honorable John Walsh Comptroller of the Currency (Acting) Administrator of National Banks 250 E Street, S.W. Washington, DC 20219</p> <p>Dear Secretary Geithner, Chairman Bair, Chairman Shapiro, Acting Director DeMarco, Chairman Bernanke and Controller Walsh:</p> <p>We are writing to urge that any exception to the credit risk retention requirements of section 941 of the Dodd-Frank Act include rigorous requirements for servicing securitized residential mortgages.</p> <p>The Act requires that securitizers retain five percent of the credit risk on mortgage-backed securities. The requirement is the subject of a study by Christopher M. James published by the Federal Reserve Bank of San Francisco dated December 13, 2010, and entitled “Mortgage-Backed Securities: How Important Is ‘Skin in the Game’?”, which finds that the requirement will have the intended effect of reducing “moral hazard” and significantly reducing the loss ratios on mortgage-backed securities.</p> <p>The Act provides for an exception, however, for “qualified residential mortgages” and for other “exemptions, exceptions, and adjustments” to the risk-retention requirement. We strongly urge that you use great care in allowing any exception to the risk retention requirement, and that you be vigilant in assuring that any exception not defeat the purpose of the requirement. Recent experience in financial regulation has been that seemingly modest, reasonable exceptions have swallowed the rules and allowed abusive practices to continue unabated. In considering any requested exception under section 941, please remember that the advocates for rule-swallowing exceptions to other financial regulation have not been entirely candid with regulators or legislators on the likely effect of those exceptions.</p> <p>The rules adopted pursuant to section 941 must, of course, require rigorous underwriting standards for “qualified residential mortgages” or any other mortgages excepted from the risk retention requirement, but underwriting requirements are not enough. The rules must also address the servicing of securitized mortgages. Much of the turmoil in the housing market, which is largely responsible for the painfully slow recovery, is the result not just of poorly underwritten mortgages, but of conduct by mortgage servicers.</p> <p>We direct your attention to the “Open Letter to U.S. Regulators Regarding National Loan Servicing Standards” dated December 21, 2010, and signed by 51 people with extensive knowledge of mortgage servicing (the “Rosner-Whalen letter”). We strongly urge that you consider closely the recommendations included in that letter.</p> <p>The Rosner-Whalen letter makes sensible recommendations regarding the treatment of payments by homeowners, “perverse incentives” in servicer compensation, mortgage documentation, and foreclosure forbearance during mortgage modification efforts.</p> <p>We especially urge that any exception require that servicers modify mortgages pursuant to established criteria to avoid foreclosure where possible. The statute governing “Farmer Mac” mortgages provides a useful example of such criteria. See 12 U.S.C. 2202a (“Restructuring Distressed Loans”). Foreclosures are catastrophic for homeowners, holders of mortgage-backed securities, the housing market, and the economy as a whole.</p> <p>The conduct of servicers is largely responsible for much unnecessary hardship. A requirement that servicers modify mortgage according to established criteria to avoid foreclosure can avoid that hardship in the future. Neutral, established criteria will also avoid “tranche warfare” between classes of investors.</p> <p>We also especially urge that any rule for securitized mortgages require that servicers not be affiliated with the securitizer. There are obvious potential conflicts of interest, and no apparent countervailing justification. At a recent hearing of the House Financial Services Committee, several witnesses from major servicers were unable to offer any advantage in being affiliated with securitizers, other than to offer “full service” to customers. That justification is entirely unpersuasive. Homeowners may select the bank with which they have a credit card or a checking account, but they have no say in who services their mortgage.</p> <p>In fact, community banks and credit unions have been reluctant to sell the mortgages that they originate to “private-label securitizers” for fear that the mortgages will be serviced by an affiliate of a bank, and the servicer will use that relationship to “cross market” other banking services to the homeowner. Requiring that servicers be independent of banks, therefore, would advance the goal of increasing the availability of credit on reasonable terms to consumers.</p> <p>The Dodd-Frank Actives provides you ample authority to reform servicing practices, and regulation of mortgage securitization will be ineffective without such reform.</p> <p>Sincerely,</p> <p>Rep. Brad Miller [and others]</p><p><br /></p><p></p></blockquote></blockquote><blockquote><p>See the article and letters <a href="http://fedupusa.org/2010/12/22/congressmen-joining-fight-to-stop-mortgage-servicer-fraud/">here</a><br /></p></blockquote><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Joycehttp://www.blogger.com/profile/00242014772865144219noreply@blogger.com2tag:blogger.com,1999:blog-4500262105442376419.post-59450996143070354942010-11-13T10:05:00.002-05:002010-11-13T10:17:03.281-05:00William Black takes on Andrew Kahr on Sub-Prime LendingIn a two part series, Mr. Black takes on Andrew Kahr's assertions that mortgage applicants should be prosecuted.<br /><br />Here's an excerpt from The Huffington Post:<br /><br /><span style="font-weight: bold;font-size:130%;" ></span><blockquote><span style="font-weight: bold;font-size:130%;" >Lender's Put the Lies in Liar's Loans<br /></span>by <a href="http://www.huffingtonpost.com/william-k-black/lenders-put-the-lies-in-l_b_780521.html">William K. Black - The Huffington Post</a><br /><br />I have noted before a family maximm -- one cannot compete with unintended self-parody. Andrew Kahr has recently written a column in the<em> American Banker</em> entitled "<a href="http://www.americanbanker.com/issues/175_205/column-kahr-lying-to-banks-1027551-1.html" target="_hplink">Spread the Word: Lying to Banks is Illegal</a>." Mr. Kahr is one of the architects of subprime lending. He warns: <blockquote> Federal law provides that anyone who knowingly makes a false statement to a[n] ... insured institution ... shall be fined not more than $1,000,000 or imprisoned for not more than thirty years, or both. <p><br /> To say the least, this criminal law, intended to protect banks and hence the deposit insurance fund, is very, very rarely enforced against consumers. Why?</p> <p> How is a U.S. attorney to know that a customer has defrauded a bank by giving false information, unless the case is referred to him or her by the bank? And we're not doing that, at least not for mortgages, credit cards or other everyday consumer lending.</p> <p> Hence, the plethora of consumers giving willfully and materially false information to banks on applications and during loan servicing has mushroomed. With "liar's loans," this went from a cottage industry to an epidemic.</p></blockquote> <p>Mr. Kahr neglects to mention that "insured institution[s]" are <em>required </em>to file Suspicious Activity Reports (SARs) (criminal referrals). As the FDIC explains:</p> <blockquote> The U.S. Department of the Treasury's financial recordkeeping regulations (31 CFR 103.18) require federally supervised banking organizations to file a SAR when they detect a known or suspected violation of federal law meeting applicable reporting criteria.</blockquote> <p>Collectively, banks make massive numbers of SARS filings with regard to mortgage fraud, over 67,000 annually, but a mere 10 institutions file 72% of those referrals. The typical nonprime lender deliberately violates its legal requirement to file a criminal referral when it discovers mortgage fraud even though that practice would be irrational for an honest lender. The federal regulatory agencies have not taken any effective action against these pervasive violation of their rules despite an "epidemic" of mortgage fraud that drove the ongoing financial crises.<br /></p></blockquote>The remainder of this article can be read <a href="http://www.huffingtonpost.com/william-k-black/lenders-put-the-lies-in-l_b_780521.html">here</a><br />Part II of this article can be read <a href="http://www.huffingtonpost.com/william-k-black/post_1243_b_781593.html">here </a><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Joycehttp://www.blogger.com/profile/00242014772865144219noreply@blogger.com1tag:blogger.com,1999:blog-4500262105442376419.post-50812200326407465712010-11-09T14:07:00.000-05:002010-11-09T14:07:04.612-05:00The Wall Street Conspiracy...As broadcast on TruTV's "Conspiracy Theory"<span style="font-size: x-small;"><b>Note: </b> This was first published in our sister publication - GoldmanSachs666.com. The information is not new for some of us but it is information needed to be seen and heard by all of us. It will be simul posted on all of our sister sites.</span><br />
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<div style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1nnOaY_5UBU_yk1RcQK41Z4d5mIzYah9jae91Hr_fsu00M_zAkvaDuLreQ6pcd_rhxa2G3Rp9FpXtmUE0TlmS2KFbUt1dvey3G0dCpXgrQ5dOG4dwW2ONONTuKraZ1KIZPsVZhS9rMwmK/s1600/Larry%2527s+Corner+Logo.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1nnOaY_5UBU_yk1RcQK41Z4d5mIzYah9jae91Hr_fsu00M_zAkvaDuLreQ6pcd_rhxa2G3Rp9FpXtmUE0TlmS2KFbUt1dvey3G0dCpXgrQ5dOG4dwW2ONONTuKraZ1KIZPsVZhS9rMwmK/s1600/Larry%2527s+Corner+Logo.JPG" /></a></div><b>This is a MUST SEE program.</b><br />
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Jesse Ventura, former Governor of Minnesota and host of TruTV's program Conspiracy Theory exposes the scam that brought the country into financial ruin. He exposes - through interviews with Wall Street insiders such as <a class="zem_slink" href="http://www.nomiprins.com/" rel="homepage" title="Nomi Prins">Nomi Prins</a>, former Goldman Executive turned whistleblower and <a class="zem_slink" href="http://en.wikipedia.org/wiki/Matt_Taibbi" rel="wikipedia" title="Matt Taibbi">Matt Taibbi</a> reporter for Rolling Stone and author of the "Giant Vampire Squid" label he placed on Goldman. Also interviewed such people as Rep. <a class="zem_slink" href="http://www.house.gov/paul/" rel="homepage" title="Ron Paul">Ron Paul</a> in reference to the Federal Reserve offering some very important information which some of us already know but all need to know.<br />
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This program exposes the criminal activities, the fraud and the cover ups that lead to the Great Recession we are still in the midst of.<br />
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This is a must see program already viewed by thousands but should be viewed by all Americans. We Americans have been "had". We have been "duped". We have been and robbed. In fact, we are still being robbed. As I have been saying, a systematic program of stripping Americans of all their assets - money, property, jobs and entitlements - leaving us totally dependent on a government controlled by Wall Street, the Federal Reserve and their true owners - foreign bankers whose families were involved in its inception back in 1913 and will continue control until we, as a nation, decide to dissolve the Federal Reserve.<br />
There have been thousands of views already. If you like it like I do, then please forward it as well. America MUST KNOW the truth. The information in this program just further verifies what I and others have been writing about for years.<br />
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Wall Street Conspiracy with Jesse Ventura...<b>Part 1</b><br />
<iframe class="youtube-player" frameborder="0" height="405" src="http://www.youtube.com/embed/AvaGbb6PNbI?rel=0" title="YouTube video player" type="text/html" width="500"></iframe><br />
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<b>Part 2</b><br />
<iframe class="youtube-player" frameborder="0" height="405" src="http://www.youtube.com/embed/fuo6Mo1kH28?rel=0" title="YouTube video player" type="text/html" width="500"></iframe><br />
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<b>Part 3</b><br />
<iframe class="youtube-player" frameborder="0" height="405" src="http://www.youtube.com/embed/8wRfuAUubT0?rel=0" title="YouTube video player" type="text/html" width="500"></iframe><br />
<div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=2924604d-dd91-49c2-a8ba-be66c540cfda" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com2tag:blogger.com,1999:blog-4500262105442376419.post-8420957939291119202010-10-25T17:27:00.000-04:002010-10-25T17:27:36.058-04:00The Real Faceof the People and the Banks<span class="zemanta-img separator" style="clear: right;"><a href="http://commons.wikipedia.org/wiki/File:Mortgage_loan_fraud.png" style="clear: right; display: block; float: right; margin-left: 1em; margin-right: 1em;"><img alt="Mortgage Loan Fraud Assessment based upon Susp..." height="157" src="http://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Mortgage_loan_fraud.png/300px-Mortgage_loan_fraud.png" style="border: medium none; font-size: 0.8em;" width="300" /></a><span class="zemanta-img-attribution" style="clear: both; float: right; margin-left: 1em; margin-right: 1em; width: 300px;">Image via <a href="http://commons.wikipedia.org/wiki/File:Mortgage_loan_fraud.png">Wikipedia</a></span></span><br />
For over three years now, I, at TheMortgageCornerFORUM have been talking about the crimes and fraud committed by our banks. Early on, in 2007, people didn't believe me or at least didn't want to believe me. But it was true then and it is still true today. The banks are committing crimes and fraud against the American people. <br />
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With the aid of our Federal Government, the banks have been able to do business in a way that would put you and I in jail forever if we employed the same tactics. There seems to have been a plan, a plan to enslave the entire population save a few of the "elite".<br />
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This plan, I believe was once called the "New World Order", first introduced by Meyer Rothschild and most recently exposed by George H.W. Bush during his term as President. You see, his grandfather August Bush was put into the banking business by the Rothschilds when they began the Bank of New York. A. Bush was made President of the bank through which the Rothschilds funnelled money to Adolf Hitler to fund his war against mankind. <br />
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Now remember that it was during the George W. Bush years that the plan to create the New World Order was accelerated into the final phases - control of most of the assets of American and control of the middle east oil - the real reasons for the invasiton of Iraq and Afghanistan.<br />
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Now, with over three years of the worst economy in this nations history, the world economy reeling from the events and actions here - we are still in the midst of the final touches of creating the New World Order. The transfer of wealth is almost complete. Most of what Americans had are now in the hands of a few bankers. The government is taking control of the people as more and more people are becoming dependent on government subsidy programs, i.e. food stamps, welfare, health care and even work as the Federal government is one of the few places left where one can get employment if they are lucky.<br />
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Taxes are increasing as is the cost of living. Food and fule, the two necessary commodities for our people are going up in price yet not recognized by our governments statisticians when computing the so called "inflation rate". These two items do not factor into inflation -that by government mandate. Obviously, if you take that out of the equation inflation looks pretty low. Of you were to put them back into the figures we would have high double digit inflation. This just an attempt by "our" governemnt - the people WE elected - to deceive us into thinking they have everything under control when in fact, they control everything.<br />
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Today I published an article in our sister publication, GoldmanSachs666.com on the real situation with foreclosures. It is an article called "Foreclsouregate" as published by Ellen Brown in her blog Web of Debt. Please <a href="http://draft.blogger.com/Unemployment%20Benefits:%20The%2099ers%20%20October%2024,%202010%205:00%20PM%20%20Even%20after%20an%20extension%20of%20unemployment%20benefits%20to%2099%20weeks,%20many%20of%20those%20about%20to%20go%20off%20the%20program%20are%20in%20a%20quandary.%20Scott%20Pelley%20talks%20to%20some%20of%20them%20in%20Silicon%20Valley.%20%20%20Read%20more:%20http://www.cbsnews.com/video/watch/?id=6987699n#ixzz13PE0hIKU">click here</a> to read it.<br />
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I posted another post on the reality of the unemployment situation and the true state of affairs on the affects on everyday people's lives. It is a story from CBS 60 Minutes about the unemployment situation in Silicon Valley. Please <a href="http://barackobama666com.blogspot.com/2010/10/barack-obama-real-face-of-america.html">click here</a> to view it and read my commentary there.<br />
<div class="zemanta-related"><h6 class="zemanta-related-title" style="font-size: 1em; margin: 1em 0pt 0pt;">Related articles</h6><ul class="zemanta-article-ul"><li class="zemanta-article-ul-li"><a href="http://www.independent.co.uk/news/business/news/new-bank-will-be-backed-by-rothschild-2071449.html">New bank will be backed by Rothschild</a> (independent.co.uk)</li>
<li class="zemanta-article-ul-li"><a href="http://gawker.com/5072852/lady-de-rothschild-obama-shows-his-elitism-by-hating-the-elite">Lady de Rothschild: Obama Shows His Elitism By Hating the Elite [Elitism]</a> (gawker.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/william-k-black/post_1115_b_772820.html">William K. Black: Foreclose on the Foreclosure Fraudsters, Part 2: Spurious Arguments Against Holding the Fraudsters Accountable</a> (huffingtonpost.com)</li>
<li class="zemanta-article-ul-li"><a href="http://eon.businesswire.com/news/eon/20101025006083/en/Report-Dangerous-Fraud-Property-Rise">Report: Dangerous Fraud for Property on the Rise</a> (eon.businesswire.com)</li>
<li class="zemanta-article-ul-li"><a href="http://barbaradiamond.blogspot.com/2010/10/freeze-is-not-enough.html">A freeze is not enough</a> (barbaradiamond.blogspot.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.newdeal20.org/2010/10/15/foreclosure-fraud-we-need-to-fix-the-banks-again-23421/">"Foreclosure Fraud: We Need to Fix the Banks Again" and related posts</a> (newdeal20.org)</li>
<li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/rj-eskow/foreclosure-fraud-the-fir_b_760215.html">Richard (RJ) Eskow: Foreclosure Fraud: It's the First Domino</a> (huffingtonpost.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/2010/10/22/fdic-called-on-to-put-ban_n_772535.html">FDIC Called On To Put Bank Of America Into Receivership</a> (huffingtonpost.com)</li>
</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=e6c323f6-2d6c-45cb-8333-7a44a9794fdf" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com1tag:blogger.com,1999:blog-4500262105442376419.post-38212355577583187792010-10-12T16:38:00.000-04:002010-10-12T16:38:50.483-04:00Who Owns My Mortgage Note...Demand To KNow<a href="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsH/" mce_href="http://www.wheresthenote.com" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" title="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsH/
Click
to visit Wheresthenote.com"><img align="right" alt="Click here to visit WheresTheNote.com" border="0" height="240" mce_src="http://action.seiu.org/page/-/Email%20Images/wheresthenoteemailgraphic.jpg" src="http://action.seiu.org/page/-/Email%20Images/wheresthenoteemailgraphic.jpg" title="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsH/
Wheresthenote.com" width="190" /></a>This email came to me from SEIU - Service Employees International Union - a union, who for the most part, supports "the people". I say, "for the most part" because there are times when I do disagree with them but as far as unions go, this is one of the better ones.<br />
<br />
It includes a <a href="http://www.wheresthenote.com/">link </a>to a <a href="http://www.wheresthenote.com/">web site</a> that allows you to easily modify a letter to your bank and allows you to email it with a simple click of a button.<br />
<br />
It has a very comprehensive list of banks and a link to go to if your bank is not included. In addition, it provides a toll free number for each bank.<br />
<br />
<br />
<br />
there are two problems I find with this web site - <a href="http://www.wheresthenote.com/">www.wheresthenote.com</a>. The letter is addressed to "the bank" not the servicing company that actually is managing your account. However, in many cases, your servicing company is owned by the bank addressed to. You need to refer to your payment stubs or your payment book of coupons to see who you actually make your check payable to or if already in foreclsoure, who the named Plaintiff is.<br />
<br />
<br />
The second problem I see here is in the body of the letter that you can and should modify.<br />
The last paragraph of the letter reads:<br />
<br />
<blockquote><br />
To protect myself and my family, I need to know who owns my mortgage. Within thirty days, I would like to know the name, address, and phone number of the bank or investor that owns my mortgage. Furthermore, in light of the recent allegations of foreclosure fraud, <b>I demand to see the original mortgage note proving ownership over my home loan. If you fail to produce a mortgage note proving that you have a right to collect my mortgage payments, I will be forced to consider all options available to me to ensure that my family and my home are protected.</b><br />
</blockquote>The last, highlighted bold sentence is the one I don't agree with. This is why and I will bold my comment.<br />
<br />
<i><b>You are asking "the bank" - not necessarily your servicing company - to give you the name and address of the "true" owner of your note. If your "bank" is not the "true" owner then it will not have, should not have and cannot produce the original note. Second, if you are writing to your servicing company (that often have the name of the bank as part of their name) they never own your note and therefore should not have the original note in their possession.</b></i><br />
<br />
<i><b>Having possession of the note DOES NOT, I repeat, DOES NOT give them the right to collect your payments nor take any foreclosure action against you. You will have little defense if you stop making your payments to them or take any legal action against them for not providing a copy of the original.</b></i><br />
<br />
If you want to insure that whoever you are writing to has the right to collect your payments you should ask them for a copy of their servicing agreement with the "true" owner of your note or at the very least that "portion" of the agreement that indicates their servicing rights. They will not disclosue to you their entire agreement which would include their fees, etc<br />
<br />
<br />
<table bgcolor="#ffffff" cellpadding="20" cellspacing="0" style="width: 626px;"><tbody></tbody></table><br />
<table bgcolor="#ffffff" cellpadding="20" cellspacing="0" style="width: 626px;"><tbody></tbody></table><table bgcolor="#ffffff" cellpadding="20" cellspacing="0" style="width: 626px;"><tbody></tbody></table><table bgcolor="#ffffff" cellpadding="20" cellspacing="0" style="width: 626px;"><tbody>
<tr></tr>
</tbody></table><blockquote><blockquote> Larry,<br />
<a href="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsH/" mce_href="http://www.wheresthenote.com" title="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsH/
Click to visit Wheresthenote.com"><img align="right" alt="Click here to visit WheresTheNote.com" border="0" mce_src="http://action.seiu.org/page/-/Email%20Images/wheresthenoteemailgraphic.jpg" src="http://action.seiu.org/page/-/Email%20Images/wheresthenoteemailgraphic.jpg" title="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsH/
Wheresthenote.com" /></a>The big banks' BS is starting to catch up to them.<br />
<br />
Last week, JPMorgan Chase announced they were halting foreclosures in 23 states. Turns out, the bankers in charge of approving the foreclosure paperwork weren't even reading what they were signing. Now, one by one, foreclosures at America's biggest banks are grinding to a halt. It's gotten so bad, several states are taking the banks to court - calling for an immediate freeze on all foreclosures.<br />
<br />
The banks created this mess, it's on them to clean it up. You have a right to know if your mortgage is affected. <a href="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsE/" mce_href="http://www.wheresthenote.com" title="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsE/
Wheresthenote.com"><b title="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsE/">If you're a homeowner, will you send a letter to your bank and demand to see your original mortgage note? You can do it online in less than five minutes: http://www.wheresthenote.com</b></a><br />
<br />
Wall Street has bought and sold our mortgages so many times, they've lost track of who owns what. And now they're getting caught red handed. In one state, two banks tried to foreclose on the same home. In another state, BofA tried to take a house away from a man who'd never even had a mortgage. The more we learn, the worse it gets.<br />
<br />
<a href="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsF/" mce_href="http://www.wheresthenote.com" title="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsF/
Wheresthenote.com"><b title="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsF/">It's time to pull the curtain all the way back. Demand to see YOUR mortgage note: http://www.wheresthenote.com</b></a><br />
<br />
Banks are calling these "technical glitches." These are more than technical glitches. These are monumental screw-ups that are forcing families out of their homes. The banks raise our rates and change our terms - and if we make one mistake, we pay with our homes.<br />
<br />
<a href="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsC/" mce_href="http://www.wheresthenote.com" title="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsC/
Wheresthenote.com"><b title="http://action.seiu.org/page/m/18a1f607/1643a13/585d97f4/388bce6/1923132059/VEsC/">Now it's our turn to demand accountability from them. Visit http://www.wheresthenote.com and demand to see your mortgage note.</b></a><br />
<br />
Thanks,<br />
<b>Stephen Lerner</b><br />
SEIU.org<br />
<br />
PS - Don't have a mortgage? Pass this on to someone who does. Every single homeowner needs to know if their bank still holds their mortgage note. </blockquote></blockquote><table bgcolor="#ffffff" cellpadding="20" cellspacing="0" style="width: 626px;"><tbody>
<tr></tr>
</tbody></table><blockquote><blockquote><span style="color: #666666; font-family: verdana; font-size: 10px; line-height: 100%;"><br />
<br />
<div style="border: 1px solid rgb(51, 51, 51); margin: 3px 20px; padding: 3px; text-align: center;">SERVICE EMPLOYEES INTERNATIONAL UNION</div></span></blockquote></blockquote> Here now is my recommended version of this letter. Pass this on to anyone and everyone you know. The more email letters all the banks receive, the more they will begin to get the idea that we "do not trust" them and we will no longer allow them to operate with special exceptions to the law. As I always have said and maintain, "THE LAW IS THE LAW FOR EVERYONE".<br />
<br />
<blockquote>To whom it may concern:<br />
<br />
I own the property at the address listed above, and your bank services my mortgage. <br />
<br />
Over the last several weeks there have been many stories documenting the problem that banks are foreclosing on homes without proof that they own the loan. I have learned that in many cases, banks like yours do not even know who owns the loans you service. Employees at several leading banks have admitted to rubber stamping tens of thousands of foreclosures every month, without even checking to make sure that the bank had a legal right to proceed with foreclosure. In some cases, banks allegedly falsified mortgage documents to cover up their mistakes. There have been reports of two banks trying to foreclose on the same home, banks foreclosing on homeowners who were current on their payments, and even of a bank foreclosing on a home where the homeowner had never taken out a mortgage to begin with. This is not merely a "technical problem"--it is the difference between having a warm bed at night and being out on the street.<br />
<br />
As a homeowner and a customer of your bank, I am horrified. I had always believed that it I played by the rules, I would be protected, but now I know that banks like yours think the rules don't apply to them. <br />
<br />
To protect myself and my family, I need to know who owns my mortgage. Within thirty days, I would like to know the name, address, and phone number of the bank or investor that owns my mortgage. Furthermore, in light of the recent allegations of foreclosure fraud, I demand to see the original mortgage note proving ownership over my home loan. <i> I would like to see copies of all endorsements and assignments of my mortgage note and where and when the assingment(s) _if any - were recorded. I also ask that you provide me with evidence of your firm being contractually retained to service my loan. (italics indicate added by LR)</i><br />
<br />
If you fail to <strike>produce a mortgage note proving that you have a right to collect my mortgage payments,</strike> <i>provide the information I am legally entitled to</i>, I will be forced to consider all options available to me to ensure that my family and my home are protected. <br />
<i>(italics indicate added by LR) </i><br />
<br />
I ask that I receive my response in writing.<br />
<br />
Thank you for your attention to this matter.</blockquote><blockquote></blockquote><table bgcolor="#ffffff" cellpadding="20" cellspacing="0" style="width: 626px;"><tbody></tbody></table><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com3tag:blogger.com,1999:blog-4500262105442376419.post-91585903093753689392010-10-08T18:32:00.000-04:002010-10-08T18:32:18.328-04:00Bank Fraud Edition: Fraud Fraud and More Fraud<span class="zemanta-img separator
zemanta-action-dragged" style="position: relative;"><a href="http://commons.wikipedia.org/wiki/File:Foreclosedhome.JPG" style="clear: left; display: block; float: left; margin-left: 1em; margin-right: 1em;"><img alt="Half million dollar house in Salinas,
Californ..." height="225" src="http://upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Foreclosedhome.JPG/300px-Foreclosedhome.JPG" style="border: medium none; font-size: 0.8em;" width="300" /></a><span class="zemanta-img-attribution" style="background: none repeat scroll 0% 0% rgba(0, 0, 0, 0.85); bottom: -267.583px; clear: left; color: #eeeeee; display: none; float: left; font-family: Georga,serif; font-size: 11px; font-style: italic; left: 16.8833px; letter-spacing: 0px; line-height: 1.5; margin: 0px; padding: 0pt 5px; position: absolute; width: 300px; z-index: 10;">Image via <a href="http://commons.wikipedia.org/wiki/File:Foreclosedhome.JPG" style="border: 0px none; color: #5588aa; text-decoration: none;">Wikipedia</a></span></span>Bank of America announces it will halt all foreclosures and foreclosure sales beginning Saturday, October 9, 2010, in all 50 states <b>This is big</b>. (See story in The <a href="http://www.huffingtonpost.com/2010/10/08/bank-of-america-halts-foreclosures_n_755737.html">Huffington Post</a>) <br />
Bank of America announces it will halt all foreclosures and foreclosure sales beginning Saturday, October 9, 2010, in all 50 states <b>This is big</b>. (See story in The <a href="http://www.huffingtonpost.com/2010/10/08/bank-of-america-halts-foreclosures_n_755737.html">Huffington Post</a>)<br />
<br />
Just the other day they announced that they were halting their actions just in the 23 states where they must go to court in order to complete a foreclosure. These states are referred to as <a class="zem_slink" href="http://en.wikipedia.org/wiki/Foreclosure" rel="wikipedia" title="Foreclosure">judicial foreclosure</a> states. The other states, referred to as non judicial foreclosure states do not require that the lenders or banks go to court to foreclose. They simply place a notice of sale on the door of the home indicating that the home will be sold at auction on a certain date.<br />
<br />
Read More...click <a href="http://www.goldmansachs666.com/2010/10/bank-fraud-edition-fraud-fraud-and-more.html">here </a><br />
Editor's Note: This article first appeared in <a href="http://goldmansachs666.com/">GoldmanSachs666.com</a><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com1tag:blogger.com,1999:blog-4500262105442376419.post-89941620037253836332010-10-06T23:51:00.000-04:002010-10-06T23:51:02.804-04:00It Begins...Ohio Files Suit:: As Posted in GoldmanSachs666.com<b>This Open Door Into Fraud Could Lead All Way Up The Ladder.</b><br />
<b> </b><br />
Even Goldman Sachs may not be immune from further investigations of fraud. Goldman still owns mortgage companies but their real problem will come when fraud investigations into the securitization process and <a class="zem_slink" href="http://en.wikipedia.org/wiki/Credit_default_swap" rel="wikipedia" title="Credit default swap">Credit Default Swaps</a> begin as a result. Isn't that how things usually happen. One small item leads to much bigger ones. The lid of Pandora's Box is officially open.<br />
<br />
Thank you Sean for sending this link. Here now the story from the <a class="zem_slink" href="http://www.huffingtonpost.com/" rel="homepage" title="The Huffington Post">Huff Post</a>:<br />
<br />
<a href="http://www.huffingtonpost.com/2010/10/06/ally-financial-ohio-lawsuit-foreclosure-fraud_n_753372.html">Ohio Attorney General Sues Ally Financial Over Alleged Foreclosure Fraud, First In A Possible Wave Of Lawsuits</a><br />
<br />
<blockquote>WASHINGTON — Ohio's attorney general is suing Ally Financial Inc. and its GMAC Mortgage division, alleging the company violated state fraud laws in handling foreclosure cases.<br />
<br />
The action could be the first in a wave of lawsuits by state regulators over what appear to be widespread problems in documents used by the nation's largest mortgage lenders.<br />
<br />
Attorney General <a class="zem_slink" href="http://www.ag.state.oh.us/" rel="homepage" title="Richard Cordray">Richard Cordray</a> said Wednesday the alleged fraud could involve hundreds of foreclosures in the state. The lawsuit claims the company's employees signed and filed false affidavits to mislead courts. Cordray called the alleged fraud the "tip of an iceberg of industrywide abuse of the foreclosure process."<br />
<br />
A message left at Ally was not immediately returned.</blockquote><br />
<b>Read the Rest</b>...<a href="http://www.huffingtonpost.com/2010/10/06/ally-financial-ohio-lawsuit-foreclosure-fraud_n_753372.html">click here </a><br />
<br />
The truth is finally coming out and our government and legal structure can no longer sweep this under the rug. Action will be taken and will have to be taken. Look for many of our <a class="zem_slink" href="http://en.wikipedia.org/wiki/Too_big_to_fail" rel="wikipedia" title="Too big to fail">Too Big To Fail</a> friends to begin to fail. I don't believe there will be any more bailouts. Understand that Ally Financial 0 once GMAC - is still living and working under the bailout we gave them. How dare they use our money to commit more fraud.<br />
<br />
<h6 class="zemanta-related-title" style="font-size: 1em; margin: 1em 0pt 0pt;">Related articles by Zemanta</h6><ul class="zemanta-article-ul"><li class="zemanta-article-ul-li"><a href="http://www.marketwatch.com/story/ohio-ag-sues-gmac-ally-over-foreclosure-fraud-2010-10-06?siteid=rss">Ohio AG sues GMAC, Ally over foreclosure fraud</a> (marketwatch.com)</li>
<li class="zemanta-article-ul-li"><a href="http://r.zemanta.com/?u=http%3A//abcnews.go.com/Business/wireStory%3Fid%3D11815096&a=25905409&rid=175cdfd3-4066-4dd0-8c15-c930e004de68&e=2d8a8a634d1d28bd1fc0d20efb7b1ed1">Ohio AG to File Suit Against Major Loan Servicer</a> (abcnews.go.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www10.nytimes.com/aponline/2010/10/06/business/AP-US-Foreclosure-Mess.html?_r=5">Ohio AG Sues Ally Financial Over Foreclosures</a> (nytimes.com)</li>
<li class="zemanta-article-ul-li"><a href="http://seattletimes.nwsource.com/html/businesstechnology/2013091601_apususforeclosuremess.html?syndication=rss">AG Holder says Justice looking into foreclosures</a> (seattletimes.nwsource.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/iris-martin/homeowners-the-courtroom-_b_751675.html">Iris Martin: Homeowners: The Courtroom is Your Battlefield</a> (huffingtonpost.com) </li>
<li class="zemanta-article-ul-li"><a href="http://www.prnewswire.com/news-releases/gmac-mortgage-statement-on-ohio-lawsuit-104450098.html">GMAC Mortgage Statement on Ohio Lawsuit</a> (prnewswire.com)</li>
</ul><br />
<div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=37b8dfb2-a357-40a4-b0a6-953d4b7a038c" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com0tag:blogger.com,1999:blog-4500262105442376419.post-86812628556529962772010-10-06T16:01:00.000-04:002010-10-06T16:01:16.384-04:00Big Bank Fraud Exposed...Finally! As Published in GoldmanSachs666.comPonzi is turning over in his grave!<br />
<br />
To think that the scheme - named for him - of defrauding people has reached a level which can never and will never be reached again.<br />
<br />
We have all been hearing and reading about the latest and greatest in foreclosure fraud committed by GMAC (Now Ally Bank), JP Morgan Chase and <a class="zem_slink" href="http://finance.yahoo.com/q?s=BAC" rel="yahoofinance" title="NYSE:
BAC">Bank of America</a> who have voluntarily suspended foreclosure actions in 23 states which require the use of the court system to accomplish a foreclosure (these states are referred to as Judicial Foreclosure States.<br />
<br />
<b>A short summary of what this is all about.<br />
</b><br />
<br />
A law firm - ICE Legal - in Palm Beach County, Florida discovered in a deposition that an Affidavit attesting to personal knowledge of the mortgage account in foreclosure was fraudulent.<br />
<br />
The importance of this Affidavit is that it is a requirement by Florida Statute in order to request a Summary Judgment to foreclosure on a property. It is apparently a requirement in in the other 22 Judicial Foreclosure States as well.<br />
<br />
What the attorney from ICE Legal learned in the deposition (information given under oath) was that the person who signed the Affidavit <b>attesting to having had personal knowledge</b> of the account and case - in fact did not. Even more disturbing in his deposition was the admission that he and a <i>team</i> of others literally signed thousands of these Affidavits a month under the direction of the law firm representing GMAC. This admission prompted GMAC to immediately halt all foreclosures in Florida and the other 22 Judicial Foreclosure states.<br />
<br />
Within days JP Morgan and Bank of America also admitted to the same fraudulent activity and also suspended all foreclosure action in those 23 states. Today, Wells Fargo also admitted to having done the same but has not as yet suspended forclosures. They are simply looking into the situation.<br />
<br />
Make no mistake here folks, this type of activity is pure and simple fraud and by submitting flatulent documents as evidence in a court of law it then becomes<b><i> fraud on the court </i></b>as well.<br />
<br />
The topic of fraudulent foreclosures by the banks has been my primary focus for the past 3 years when I first began writing about it as a Guest Writer in <a href="http://flippingfrenzy.com/">Flippingfrenzy.com</a>, <a href="http://www.themortgagecorner.blogspot.com/">TheMortgageCornerFORUM </a>and <a href="http://www.theforeclosuredetonator.wordpress.com/">TheForeclosureDetonatorFORUM</a>.<br />
<br />
Few people believed me in the past when I said that the banks were committing fraud causing the mortgage meltdown which later turned into the worst financial crisis the world has ever seen - yes, worse then the Great Depression. Few believed me when I said three years ago that the banks are committing fraud and foreclosing illegally in many if not most foreclosures. Few believed me when I said that the banks were committing fraud on the courts providing forged, created or misrepresented documents. And few believed me when I said that the parties acting as Plaintiffs in many of our foreclosures do not have the legal right to do so (this is called Standing) as they do not own the mortgage notes they are foreclosing on.<br />
<br />
Of course, over the past three years many of my stories have been substantiated by people like Federal Judge Boyco of Ohio who dismissed 17 foreclosure cases against one bank in one day saying that they lacked Standing - they could not prove ownership of the notes therefore they could not foreclose. Another such person was New York Superior Court Judge Arthur Shack who also denied banks their foreclosures for the same reason of not having Standing.<br />
<br />
Other judges in Ohio, New York, Florida and a few other states have as well ruled the same way. In addition, some of these judges found evidence of falsified documents and even sanctioned the law firm for attempting to commit fraud on the court.<br />
<br />
What is important here is that this case of Affidavit fraud will open the door to all the other frauds committed by our banks - expecially our Too Big To Fail banks like Goldman Sachs. Goldman is very much involved in much of the early frauds having to do with securitizations I have written about here in the past. .They also own mortgage lending companies that have been and probably still are involved in the most recent evidence of fraud.<br />
<br />
Many of the frauds committed by GS and their Wall Street cronies have been written about, talked about and exposed yet little if anything has ever been done. You all know I have been calling for justice on this issue. So far they all have not only been deemed Too Big To Fail (GMAC was included in that if you remember and we own most of that company today) but have seemingly been granted some type of immunity against any prosecution for obvious illegal and fraudulent activities. They seem to have been <i>above the law</i> as well.<br />
<br />
Well, this may all finally be coming to an end and justice may yet be served even though I believe it will still be a slow painful process.<br />
<br />
To explain all of this further, here is the article I posted yesterday on my sister site - <a href="http://theforeclosuredetonator.wordpress.com/2010/10/06/bank-fraud-finally-in-the-limelight/">TheForeclsoureDetonator</a>.<br />
<blockquote><h2 class="storytitle" id="post-831"><span style="font-size: small;"><a href="http://theforeclosuredetonator.wordpress.com/2010/10/06/bank-fraud-finally-in-the-limelight/" rel="bookmark" title="Permanent Link: Bank Fraud FINALLY In
the Limelight">Bank Fraud FINALLY In the Limelight</a><span style="font-weight: normal;"><br />
<br />
I have not been the first to report on this as I have been busy reading all of the other reports on this topic. Pandora's Box has finally been opened.</span></span></h2>This "robo- signer" fraud is only the tip of the iceberg that ICE Legal (no pun intended) in Royal Palm Beach, Florida (Palm Beach County) discovered during "discovery". His deposition caused GMAC (ALLY Bank) to halt foreclosures in 23 states. This action was then followed by JP Morgan Chase and as of this past<br />
<br />
Friday, Bank of America. I am sure we will see many other of our major banks follow suit as this practice of submitting fraudulent documents to the courts is wide-spread.<br />
<br />
While this news is finally showing how banks are committing fraud in our courts by submitting fraudulent Affidavits attesting to personal knowledge of each foreclosure case and mortgage account, I believe, is only the beginning.<br />
<br />
<b>Back Door To Fraud<br />
</b><br />
The banks and their attorneys - commonly called foreclosure mills - have been committing fraud on the court since the beginning of the once called <i>"mortgage meltdown"</i> and the current <i>foreclosure crisis</i>. The fraud was committed when many loans were originated.<br />
<br />
Mortgage brokers - who were accused by the big box banks of creating all of these "bad loans" - submitted deals to the banks. <i><b>It was the job of these banks/lenders to "underwrite"</b></i> these loans then decide if they would approve them or not. In many cases they <i>approved</i> loans knowing that there were fraudulent documents in the file or knowing that the <i>ability to repay </i>did not exist. In other words, the banks <br />
<b>approved</b> and<b> funded</b> loans they <i>knew</i> were foreclosures in the making. They blamed the brokers when<i> it was their job</i> to make the decision to approve and fund or to deny.<br />
<br />
FYI, Fannie and Freddie very much did the same. You see, they created a computer underwriting engine that would automatically underwrite a loan input by any loan originator including the mortgage brokers. They (F & F) frequently tweaked the system so that it would approve more loans. They sent teams of people out into the field to teach originators how to use their automated underwriting (AU) systems, called Desktop Underwriter (DU) for <a class="zem_slink" href="http://finance.yahoo.com/q?s=FNM" mce_href="http://finance.yahoo.com/q?s=FNM" rel="yahoofinance" title="NYSE: FNM">Fannie Mae</a> and Loan Prospector (LP) for <a class="zem_slink" href="http://finance.yahoo.com/q?s=FRE" mce_href="http://finance.yahoo.com/q?s=FRE" rel="yahoofinance" title="NYSE: FRE">Freddie Mac</a>'s version. In these "field" workshops they taught us how to manipulate the system to get approvals. They taught us to keep changing the information such as income and assets until the system gave us an approval often <b>not</b> requiring any verification. Once the system gave us the desired approval we were then told to hit the submit button which would give the official approval.</blockquote><b>Read the Complete Article</b>...<a href="http://theforeclosuredetonator.wordpress.com/2010/10/06/bank-fraud-finally-in-the-limelight/">click here <br />
<br />
</a><br />
it is time that the people of this country get the justice they so deserve. We can not allow our justice system to be hijacked by the banksters their politician buddies many of whom are their former employees.<br />
<br />
Goldman Sachs was given a mere pittance of a fine for just one small illegal activity yet the bigger crimes still go unnoticed and unpunished. I truly believe this is a new beginning for the people and perhaps even a new beginning for this blog. These banksters must learn that they cannot rule us, take from us our Constitutional right of Due Process and trample over us at will for their own personal profit and gain.<br />
<br />
For the first time in three years I feel somewhat encouraged.<br />
As I have always said:<br />
<blockquote><b>"The law is the law for everyone" </b></blockquote>and as relates to the massive illegal foreclsures, <br />
<blockquote><b>"Two wrongs don't make a right". </b></blockquote>You cannot lie and commit fraud in an attempt to correct a problem you created in the first place.<br />
<div class="zemanta-related"><h6 class="zemanta-related-title" style="font-size: 1em; margin: 1em 0pt 0pt;">Just look at all the article below. This is massive fraud they can't hide or get around this time.</h6><h6 class="zemanta-related-title" style="font-size: 1em; margin: 1em 0pt 0pt;">Related articles by Zemanta</h6><ul class="zemanta-article-ul"><li class="zemanta-article-ul-li"><a href="http://www.prweb.com/releases/prwebbofa-foreclosures/wrongful-foreclosure/prweb4601714.htm">Bank of America's Review For Foreclosure Errors May Lead to Foreclosure Defense Lawyers Asking Courts to Set Aside Old Foreclosure Cases</a> (prweb.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.businesspundit.com/lawyers-politicians-feed-on-foreclosure-freeze/">Lawyers, Politicians Feed on Foreclosure Freeze</a> (businesspundit.com)</li>
<li class="zemanta-article-ul-li"><a href="http://r.zemanta.com/?u=http%3A//www.businessweek.com/news/2010-10-06/jpmorgan-ally-face-hydra-of-foreclosure-probes.html&a=25890509&rid=b1013ec0-12e9-40a6-afd4-2273cfcb5df0&e=b6116cc530965b77f84083ab8ecf6c7a">JPMorgan, Ally Face 'Hydra' of Foreclosure Probes</a> (businessweek.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.theglobeandmail.com/report-on-business/uproar-over-foreclosures-in-us-intensifies/article1745587/?cmpid=rss1">Uproar over foreclosures in U.S. intensifies</a> (theglobeandmail.com)</li>
<li class="zemanta-article-ul-li"><a href="http://schott.blogs.nytimes.com/2010/10/06/robo-signers/">Robo-signers</a> (schott.blogs.nytimes.com)</li>
<li class="zemanta-article-ul-li"><a href="http://r.zemanta.com/?u=http%3A//www10.nytimes.com/2010/10/06/business/06mortgage.html%3F_r%3D5&a=25857895&rid=b1013ec0-12e9-40a6-afd4-2273cfcb5df0&e=ff30da4d8809c5b234c21b68cdb6b9c4">Foreclosure Furor Rises; Many Call for a Freeze</a> (nytimes.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/2010/10/05/democrats-call-for-invest_n_751373.html">Pelosi Calls For Investigation Of Foreclosure Fraud</a> (huffingtonpost.com)</li>
<li class="zemanta-article-ul-li"><a href="http://news.firedoglake.com/2010/10/02/maine-homeowners-sue-gmac-over-foreclosure-fraud/">Maine Homeowners Sue GMAC Over Foreclosure Fraud</a> (news.firedoglake.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.zerohedge.com/article/bank-america-joins-jpmorgan-and-ally-admitting-it-never-validated-foreclosures-docs">"Bank Of America Joins JPMorgan And Ally In Admitting It Never Validated Foreclosures Docs" and related posts</a> (zerohedge.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/ray-brescia/enough-rampant-fraud-in-f_b_749053.html">Ray Brescia: Enough: Rampant Fraud in Foreclosures Means It's High Time for a National Foreclosure Moratorium</a> (huffingtonpost.com)</li>
<li class="zemanta-article-ul-li"><a href="http://news.firedoglake.com/2010/10/05/foreclosure-fraud-caused-by-lenders-not-judges/">Foreclosure Fraud Caused By Lenders, Not Judges</a> (news.firedoglake.com)</li>
<li class="zemanta-article-ul-li"><a href="http://blog.hsh.com/index.php/2010/10/thousands-in-23-states-affected-by-foreclosure-suspensions/">Thousands in 23 states affected by foreclosure suspensions</a> (hsh.com)</li>
<li class="zemanta-article-ul-li"><a href="http://seattletimes.nwsource.com/html/businesstechnology/2013049273_apusbankofamericaforeclosures.html?syndication=rss">Bank exec. signed, didn't read foreclosure papers</a> (seattletimes.nwsource.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/2010/10/01/bank-of-america-foreclosure-_n_747514.html">Bank Of America Exec Signed, But Didn't Read Up To 8,000 Foreclosure Papers Per Month</a> (huffingtonpost.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.dailyfinance.com/story/real-estate/bank-of-america-joins-the-foreclosure-delay-brigade/19657910/?icid=zemanta">Bank of America Joins the Foreclosure Delay Brigade</a> (dailyfinance.com)</li>
<li class="zemanta-article-ul-li"><a href="http://projectworldawareness.com/2010/10/the-big-boys-are-scurrying/">The Big Boys are Scurrying....</a> (projectworldawareness.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.propublica.org/blog/item/gmacs-robo-signers-draw-concerns-about-faulty-process-mistaken-foreclosures">GMAC's 'Robo-Signers' Draw Concerns About Faulty Process, Mistaken Foreclosures</a> (propublica.org)</li>
<li class="zemanta-article-ul-li"><a href="http://r.zemanta.com/?u=http%3A//www10.nytimes.com/2010/10/02/business/02mortgage.html%3F_r%3D5&a=25620268&rid=b1013ec0-12e9-40a6-afd4-2273cfcb5df0&e=d6b058634ab48dd129fd50d4a4e078b4">You: Bank of America Freezing Foreclosures</a> (nytimes.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.dailyfinance.com/story/credit/jpmorgan-chase-will-delay-foreclosures-on-some-properties-to-rev/19654407/?icid=zemanta">JPMorgan Chase to Delay Some Foreclosures to Review Documents</a> (dailyfinance.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/2010/10/06/banks-foreclosure-break-in_n_752613.html">Banks Breaking Into Occupied Homes In Foreclosure To Change Locks</a> (huffingtonpost.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.newser.com/story/101976/bank-of-america-we-messed-up-foreclosures-too.html">Bank of America: We Messed Up Foreclosures, Too</a> (newser.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.businessinsider.com/bank-of-america-joins-jpmorgan-is-suspending-foreclosures-2010-10">Bank Of America Joins JPMorgan In Suspending Foreclosures (BAC)</a> (businessinsider.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.mysanantonio.com/news/local_news/texas_ag_suspends_foreclosures_104323339.html">Mysa.com: Texas AG suspends foreclosures</a> (mysanantonio.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.mysanantonio.com/news/politics/texas_ag_suspends_foreclosures_104323339.html">Texas AG suspends foreclosures</a> (mysanantonio.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.mybanktracker.com/bank-news/2010/10/04/bank-america-foreclosures-stopped-23-states/">"Bank of America Foreclosures Stopped in 23 States" and related posts</a> (mybanktracker.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.reuters.com/article/idUSN0519590620101005">US Sen. Menendez raises foreclosure moratorium idea</a> (reuters.com)</li>
</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=b1013ec0-12e9-40a6-afd4-2273cfcb5df0" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com1tag:blogger.com,1999:blog-4500262105442376419.post-3359576199565032752010-09-30T16:38:00.002-04:002010-09-30T17:11:47.851-04:00Admission of Guilt With No Consequences...We Need Justice For All<div xmlns="http://www.w3.org/1999/xhtml"></div><br />
<div xmlns="http://www.w3.org/1999/xhtml">Maybe my prayers are being somewhat answered. That legal guru in the sky must have been reading my posts and rained some bad mojo down on a couple of offending lenders.<br />
<br />
We have read in days past of GMAC's voluntary suspension of foreclosures in 23 states and had heard that JPMorgan was contemplating suspensions of foreclosures as well. Today we learn that JPMorgan is in fact suspending over 56,000 foreclosures pending reviews of documentation - specifically Affidavits - provided to the courts, many of which may be fraudulent.<br />
In GMAC's case, there is definitely admission of guilt under oath by two offenders who did in fact lie and commit fraud when they signed the Affidavits attesting to personal knowledge of the accounts in question.<br />
<br />
But it still mystifies me that knowing fraud on the court has been committed, there seems to be no consequence to these <i>illegal</i> actions. As one of our readers, Grady, wrote in a recent comment, <br />
<blockquote><i>So now we have two major lenders <b>admitting</b> that their employees and the fraudsters that represent them, have quite possibly and probably, (actually have as we all know) committed fraud on the Court and perjured themselves. (emphasis added)</i> </blockquote><blockquote><i> </i><br />
<i><b>Where are the criminal prosecutions?</b> <b>Where are the dismissals with prejudice? Where are the sanctions? </b>(emphasis added) <small>LR Note: I agree with all of these questions. If it were you or I who committed these frauds, we would have been arrested and prosecuted immediately. Again, there is a separate set of laws for those we call Too Big To Fail. </small></i><i><b><br />
</b></i><br />
<i>We all know that they will just withdraw the fraudulent documents and refile new ones and it will all blow over, business as usual in the kangaroo courts.</i></blockquote> Grady is right, it will be business as usual as they <i>will</i> just withdraw any fraud documents and refile new ones. It is like robbing a bank then returning the money in exchange for not being prosecuted. More legal precedence being set?<br />
<br />
However, there is some sunlight here as well. The recognition from chief judge of the Sixth Judicial Circuit in Florida - which includes Clearwater and St. Petersburg - that there <i><b>are</b> <b>legal issue problems</b></i> here and despite the Florida legislature's push on "Rocket Docket" efforts to clear the dockets of foreclosures, that a slow down and more careful examination of each case must be made.<br />
<br />
According to the New York Times report today, <a href="http://www.nytimes.com/2010/09/30/business/30mortgage.html?_r=2&ref=business">JP Morgan Suspending Foreclosures, </a><br />
<blockquote>Judge McGrady predicted that the foreclosure process in Florida, which the Legislature has been trying to speed up, would have to slow down. </blockquote><blockquote>“Everyone is going to have to look at these cases more closely,” said Judge McGrady, whose circuit includes St. Petersburg. </blockquote>Says Judge J. Thomas McGrady,<br />
<blockquote><b>“I don’t want to say that every one of these cases is wrong and a fraud on the court, but it is a big concern for us,” </b></blockquote>"Fraud on the court" he says, the first time I have seen that term used outside a very few specific cases. The fact that he says "it is a big concern for us" tells me that the fraud on the courts is widespread and they (judges) can no longer just look the other way as they have been doing.<br />
It will be interesting to see how judges in the 6th Circuit handle each case now.<br />
<br />
It will be especially interesting to see how the newly rehired, retired judges - whose mandate it is to clear the dockets of foreclosures - will rule. It will be difficult for any layperson to evaluate since once open and public hearings are often closed to the public (another injustice and violation of public rights).<br />
<br />
It remains to be seen how this new evidence is handled in Judicial foreclosure states around the country. This is not an isolated problem involving just two lenders. It is widespread throughout the servicing companies and foreclosure mills (attorneys representing lenders) who initiate and handle these foreclosures. Fraudulent documents, forged documents, back dated documents or many times no documents such as Assignments or Endorsements proving transfer of ownership to the entity taking the action.<br />
<br />
We have admission and plenty of evidence of fraud on the courts from around the country. Remember, Judge Boyco, the Federal Judge in Ohio who dismissed 17 foreclosure cases in one day against one lender back in 2007 for not having the proper paperwork proving the standing of the plaintiffs to take the action? There was also Judge Shack, the Superior Court Judge from New York who dismissed cases for improper paperwork and for failure to prove standing. This was back in 2008. There are other judges who have taken the same actions of upholding the laws against the banks as well. Now it is time for all judges around the country in all courts hearing foreclosure cases to uphold the law as written and to punish those who would openly abuse the laws.<br />
<br />
As I asked in yesterday's post - <a href="http://theforeclosuredetonator.wordpress.com/2010/09/29/lets-ramp-up-the-fight-against-illegal-foreclosures-and-fraud-by-banks-2/">Let's Ramp Up The Fight Against Illegal Foreclosures and Fraud By Banks</a> - where is everyone who has the authority to take action against what is and has been obvious illegal activity from lenders, servicers and attorneys? Should not the Bar Association take action against any and all lawyers who have been complicit in these frauds? Should not the Attorneys General of at least all judicial states take legal action and bring charges against the lenders/banks or servicers as well as their attorneys? After all, these practices are illegal and the law is the law for <i><b>everyone</b></i> regardless their economic standing.<br />
<br />
Let's see how all of this plays out. It is a beginning. It opens the door even further to the illegal practices of banks and their attorneys which is seemingly condoned by our government and our courts. How much longer will this be tolerated by us? <br />
<br />
<i><small><b>Editors Note:</b> This article was written for publication in <a href="http://draft.blogger.com/www.theforeclosuredetonator.wordpress.com">TheForeclosoureDetonatorFORUM </a>but will be simultaneously be published in <a href="http://draft.blogger.com/www.jpmorgan666.com">JPMorgan666.com</a>, <a href="http://draft.blogger.com/www.barackobama666.com">BarackObama666.com</a>, <a href="http://draft.blogger.com/www.goldmansachs666.com">GoldmanSachs666.com</a> and <a href="http://draft.blogger.com/www.themortgagecorner.blogspot.com">TheMortgageCornerFORUM</a></small></i></div><div class="zemanta-related"><h6 class="zemanta-related-title" style="font-size: 1em; margin: 1em 0pt 0pt;">Related articles by Zemanta</h6><ul class="zemanta-article-ul"><li class="zemanta-article-ul-li"><a href="http://r.zemanta.com/?u=http%3A//www10.nytimes.com/2010/09/25/business/25mortgage.html%3F_r%3D5&a=25166711&rid=0475d550-1e6a-8f3f-958e-ce7caa1236ce&e=6b5dba29a072c2353875df5f7db60b7c">You: GMAC's Errors Leave Foreclosures in Question</a> (nytimes.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.oregonlive.com/business/index.ssf/2010/09/jp_morgan_chase_halts_foreclos.html">JP Morgan Chase halts foreclosures; second large bank to do so</a> (oregonlive.com)</li>
<li class="zemanta-article-ul-li"><a href="http://r.zemanta.com/?u=http%3A//www.businessweek.com/news/2010-09-28/banks-foreclose-first-ask-questions-later-if-ever-ann-woolner.html&a=25477866&rid=0475d550-1e6a-8f3f-958e-ce7caa1236ce&e=f1ee68a182bb99a129c2fb23d6105919">Banks Foreclose First, Ask Questions Later</a> (businessweek.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.reuters.com/article/idUSTRE68S5KY20100929">Analysis: Foreclosure "mess" unfolds state by state</a> (reuters.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.propublica.org/blog/item/gmacs-robo-signers-draw-concerns-about-faulty-process-mistaken-foreclosures">GMAC's 'Robo-Signers' Draw Concerns About Faulty Process, Mistaken Foreclosures</a> (propublica.org)</li>
<li class="zemanta-article-ul-li"><a href="http://www.reuters.com/article/idUSN2826457020100928">UPDATE 1-Ohio asks courts to review GMAC foreclosures</a> (reuters.com)</li>
<li class="zemanta-article-ul-li"><a href="http://news.firedoglake.com/2010/09/29/jpmorgan-systematically-reviewing-foreclosures/">JPMorgan "Systematically Reviewing Foreclosures"</a> (news.firedoglake.com)</li>
</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=0475d550-1e6a-8f3f-958e-ce7caa1236ce" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com0tag:blogger.com,1999:blog-4500262105442376419.post-57972211441223178252010-09-14T15:22:00.005-04:002010-09-14T15:39:02.281-04:00A Blog of Information on Mortgage Fraud and Real Estate FraudHere is a blog that reports on cases of mortgage fraud that are being prosecuted. It is interesting to see the name of Goldman Sachs amongst the companies being investigated or included in lawsuits.<br /><br />The following is quoted from the website:<br /><br /><blockquote><a href="http://www.mortgagefraudblog.com/index.php/">Mortgage Fraud Blog</a> is the premier website for news and information on mortgage fraud and real estate fraud throughout the United States. <img src="http://www.mortgagefraudblog.com/images/uploads/7810D_018_-22_thumb.JPG" alt="Rachel Dollar Picture" name="image" valign="top" class="rachelface" width="100" align="left" border="0" height="99" />Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of <a href="http://www.smithdollar.com/" target="blank" rel="nofollow">Smith Dollar, PC</a>, is licensed to practice law in California and maintains offices in Santa Rosa, California.<span style="text-decoration: underline;"><br /></span></blockquote><br /><br />Read the blog <a href="http://www.mortgagefraudblog.com/index.php/">here</a><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Joycehttp://www.blogger.com/profile/00242014772865144219noreply@blogger.com1tag:blogger.com,1999:blog-4500262105442376419.post-24925253460105668082010-08-31T15:52:00.000-04:002010-08-31T15:52:58.067-04:00The Shocking Truth About America...A Third World Country<span class="zemanta-img separator" style="clear: right;"><a href="http://en.wikipedia.org/wiki/File:Inequality_and_mortality_in_metro_US.jpg" rel="nofollow" style="clear: right; display: block; float: right; margin-left: 1em; margin-right: 1em;"><img alt="Income inequality and mortality in 282 metropo..." height="262" src="http://upload.wikimedia.org/wikipedia/en/thumb/9/90/Inequality_and_mortality_in_metro_US.jpg/300px-Inequality_and_mortality_in_metro_US.jpg" style="border: medium none; font-size: 0.8em;" width="300" /></a><span class="zemanta-img-attribution" style="clear: both; float: right; margin-left: 1em; margin-right: 1em; width: 300px;">Image via <a href="http://en.wikipedia.org/wiki/File:Inequality_and_mortality_in_metro_US.jpg">Wikipedia</a></span></span><blockquote><ul><li class="first"><b>The top 10 percent of Americans now earn half of our national income, while the bottom 90% collectively own less than 2 percent of the nation's wealth. There is more income inequality in America than at any time since 1928, when this statistic was first kept.</b></li>
</ul></blockquote><blockquote><ul><li><b>61 percent of Americans "always or usually" live paycheck to paycheck, which is up from 49% in 2008 and 43 percent in 2007.<br />
</b> </li>
<li><b>Approximately 21 percent of all children in the United States are living below the poverty line, which is the highest rate in 20 years.<br />
</b> </li>
<li><b>Only the top 5 percent of U.S. households have earned enough additional income since 1975 to match the rise in housing costs.<br />
</b> </li>
<li class="last"><b>83 percent of all U.S. stocks are in the hands of just the top 1% of Americans. And the top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.</b></li>
</ul></blockquote> Above from <a href="http://www.huffingtonpost.com/leo-hindery-jr">Leo Hindery, Jr.</a><br />
<div class="teaser_permalink">Chairman, U.S. Economy/Smart Globalization Initiative at the New America Foundation<br />
as published in <a href="http://www.huffingtonpost.com/leo-hindery-jr/third-world-america-ameri_b_700292.html?utm_source=DailyBrief&utm_campaign=083110&utm_medium=email&utm_content=BlogEntry">The Huffington Post</a>, <a href="http://www.huffingtonpost.com/leo-hindery-jr/third-world-america-ameri_b_700292.html" id="title_permalink" title="Permalink"><i>Third World America</i>: America's New Must-Read. <span style="font-size: x-small;">(Image from Wikipedia added by BO666)</span></a></div><div class="teaser_permalink"><br />
</div><div class="teaser_permalink"> In my previous post, I referred to our country as a two class society, "the haves" and "the have nots". Arianna Huffington in her new book <i>- Third World America</i> - makes a valid statement to support this as reported by Mr. Hindery, who also agrees with her assessment.</div><blockquote>Ms. Huffington has precisely described the current <b>sad state of the middle class</b>, with especially sharp perspective on what she calls the <b>economic "nightmare on Main Street." </b>And she offers particular insight into "America the dilapidated", her short-hand way of expressing her distress at the sorry state of the nation's infrastructure, which will require a staggering $3 trillion or so of capital expenditures to fix and upgrade.(emphasis added by BO666)</blockquote> Yes, when she calls this an "economic nightmare on Main Street" she hits the nail squarely on the head. For the past 3 years I have been calling this an "economic disaster" which seems to flourish with each failed attempt to correct it. The question then remains, are "they" really trying to correct it or further the benefits and holdings of the top 1% who, as stated above own:<br />
<blockquote>83 percent of all U.S. stocks are in the hands of just the top 1% of Americans. And the top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago. </blockquote>Even more shocking is the fact - again stated above - that 90% of Americans collectively <b>own only 2%</b> of the nations wealth. What's wrong with this picture?<br />
<br />
We, the collective 90% of Americans have been robbed, stripped of any wealth we once possessed and are kept in distress never again to rise as the vibrant middle class we once were.<br />
<br />
Does this remind anyone of any other regimes in other countries through out our most recent history? Does this sound like the old Soviet Union? Yes, in fact a visiting professor back in 1964 (a sitting U.S. Senator at the time) lectured our class on how close our country (then) was to the Soviet Union in terms of repression of people economically. That was shocking and alarming to me then but wait, look at us now. <br />
<br />
Unfortunately, many of our younger generations do not remember the old Soviet Union and the political and economic repression they created in much of Europe. In fact, today's Freshman College class (class of 2014) don't know anything of the Soviet Union. It did not exist in their lifetime. They know only that the Russians and Americans share space on the International Space station, work cooperatively on the space effort and see many wealthy Russians here in the U.S. as well as in Russia.<br />
<br />
These same kids never new of East and West German, the wall dividing East and West Berlin and how different the economic lifestyles of the split nation were.<br />
<br />
But one thing for sure. These same Freshmen will remember how their parents lives were thrown into turmoil. How many of their homes were foreclosed on. They will remember the stress and misery that existed in their once happy homes when one or both parents lost their jobs and struggled just to survive and feed their family. They will remember their once middle class lives deteriorated into seeking social services, receiving food stams, waiting in line at food banks and no longer enjoying the many things they once took for granted.<br />
<br />
They will certainly remember the difficulties in paying for their college educations as student loans are limited and parents savings wiped out. Some will make it and for those who try and can't, well, they may emerge as our best spokespersons and politicans as well as corporate executives. .<br />
<br />
The light at the end of the tunnel is that this current generation of politicians and corporate thieves will one day be replaced by these youngsters as they struggle to get through college and graduate. These kids are our future and our last hope as our current group of crimeoliticians continue to ravage and destroy our country. <br />
<br />
Arianna Huffington is right This is a Third World Country and few have the guts to announce it publicly as she is doing through her book and as Leo Hindery, Jr. is doing through his article.<br />
<br />
We must rid ourselves of the same old revolving door in Washington. We must remove the likes of people like Greenspan, Bernanke, Geithner, Paulson, Cheney, Rumsfeld, Bush and yes, even Obama who promised change and that is what we are getting "pocket change". <br />
<br />
Read all of Hindery's article...<a href="http://www.huffingtonpost.com/leo-hindery-jr/third-world-america-ameri_b_700292.html?utm_source=DailyBrief&utm_campaign=083110&utm_medium=email&utm_content=BlogEntry">click here </a><br />
<br />
<div class="zemanta-related"><h6 class="zemanta-related-title" style="font-size: 1em; margin: 1em 0pt 0pt;">Related articles by Zemanta</h6><ul class="zemanta-article-ul"><li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/2010/08/27/next-steps-six-things-you_n_697240.html" rel="nofollow">Next Steps: Six Things You Can Do Right Now To Help Prevent Third World America</a> (huffingtonpost.com)</li>
<li class="zemanta-article-ul-li"><a href="http://socyberty.com/history/cold-war-relationship-between-soviet-and-chinese-communists/" rel="nofollow">Cold War - Relationship Between Soviet and Chinese Communists</a> (socyberty.com)</li>
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</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced
by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_e.png?x-id=ac581941-d802-43a9-b8a1-8cd79d7999cf" style="border: medium none; float: right;" /></a><span class="zem-script more-related
pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com0tag:blogger.com,1999:blog-4500262105442376419.post-73285916603962541052010-08-30T15:51:00.000-04:002010-08-30T15:51:12.465-04:00The Story of the Too Big To Fail<blockquote><h1 class="cN-headingPage prepend-5 span-11 last"><span style="font-size: large;"><a href="http://www.smh.com.au/business/inside-boardrooms-during-the-crash-20100829-13xmb.html">Inside boardrooms during the crash </a></span></h1></blockquote><div> <blockquote><div> <a href="http://www.smh.com.au/business/by/Stuart-Washington" title="Stuart
Washington"><img alt="stuart-washington_127x127" height="90" src="http://images.smh.com.au/2009/10/24/810853/stuart-washington_127x127-90x90.jpg" width="90" /></a> <h3><span style="font-size: small;"><span style="font-size: x-small;"><a href="http://www.smh.com.au/business/inside-boardrooms-during-the-crash-20100829-13xmb.html">Stuart Washington<br />
The Sydney Morning Herald</a></span></span></h3></div></blockquote><blockquote><h3><span style="font-size: small;"><a href="http://www.smh.com.au/business/by/Stuart-Washington" title="Stuart
Washington"> </a></span></h3></blockquote></div><blockquote>The top-ranked baboons within the storied US investment banks mark their territory loudly and clearly in an encyclopaedic account of the financial crash that engulfed the world in 2008.<br />
<br />
Andrew Ross Sorkin is a not-so-archetypal mild-mannered <em>New York Times</em> reporter who has pieced together the boardroom events as the world raced to the brink of financial catastrophe.<br />
<br />
In his book <em>Too Big to Fail</em> he has used a considerable contact book to recreate a word-by-word account of many, many meetings among those attempting to save Bear Stearns, Lehman Bros, American International Group and many others.<br />
<br />
Central figures include the then treasury secretary, Henry Paulson, and the then president of the Federal Reserve Bank of New York, Timothy Geithner, later to succeed Paulson when the Obama administration took over.</blockquote><br />
This is a good article and the book referred to in the piece Too Big Too Fail by Andrew Ross Sorkin should also be a good read. I have not read it yet but it is on my calendar today to obtain. <br />
<br />
<b>Other News Links </b><br />
<b><a href="http://www.google.com/url?sa=X&q=http://www.bloomberg.com/news/2010-08-25/foreclosures-lack-of-jobs-will-probably-keep-home-sales-in-u-s-depressed.html&ct=ga&cad=:s7:f1:v0:d1:i0:lt:e0:p0:t1282717690:&cd=XjLfVEL7xrQ&usg=AFQjCNHdc5e9EWN9qminvckgfqA6hS1QFw" style="color: #1111cc;" title="http://www.google.com/url?sa=X&q=http://www.bloomberg.com/news/2010-08-25/foreclosures-lack-of-jobs-will-probably-keep-home-sales-in-u-s-depressed.html&ct=ga&cad=:s7:f1:v0:d1:i0:lt:e0:p0:t1282717690:&cd=XjLfVEL7xrQ&usg=AFQjCNHdc5e9EWN9qminvckgfqA6hS1QFw">Lack of Jobs, Foreclosures May Keep Housing in US Depressed</a></b><br />
<span><a href="http://draft.blogger.com/post-create.g?blogID=4500262105442376419" style="color: #777777; cursor: default; text-decoration: none;" title="outbind://112-000000009F6C05BA6BEFDF479985EF45ED0EC805E44B4000/">Bloomberg</a></span><br />
<b><a href="http://www.google.com/url?sa=X&q=http://www.csmonitor.com/Business/Robert-Reich-s-Blog/2010/0829/Who-s-really-to-blame-for-the-economy&ct=ga&cad=:s7:f1:v0:d1:i0:lt:e0:p0:t1283109251:&cd=v_fQN0zf72s&usg=AFQjCNE6hcByGkbHYWg9ZXwSRMHog0sOrA" style="color: #1111cc;" title="http://www.google.com/url?sa=X&q=http://www.csmonitor.com/Business/Robert-Reich-s-Blog/2010/0829/Who-s-really-to-blame-for-the-economy&ct=ga&cad=:s7:f1:v0:d1:i0:lt:e0:p0:t1283109251:&cd=v_fQN0zf72s&usg=AFQjCNE6hcByGkbHYWg9ZXwSRMHog0sOrA">Who's really to blame for the economy</a></b><br />
<span><a href="http://draft.blogger.com/post-create.g?blogID=4500262105442376419" style="color: #777777; cursor: default; text-decoration: none;" title="outbind://125-000000009F6C05BA6BEFDF479985EF45ED0EC80504894000/">Christian Science Monitor (blog)</a></span> <blockquote> <a href="http://draft.blogger.com/goog_1526180923"><span style="font-size: small;"><br />
</span></a><br />
</blockquote><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com0tag:blogger.com,1999:blog-4500262105442376419.post-23113521882543044012010-04-29T03:03:00.000-04:002010-04-29T03:03:11.561-04:00Goldman Sachs Senate Hearings and SEC Law Suit<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXVUOyTGEYU8RiHMHYniDmeALrfUKZCxNvS3JhRuPrKdgy2f_EwOjmlYrh-lyYY0z3LwwjCYCZPpf5neQYXkZvZwSXOZ_xn-19F2JPR9Y2yO9TDR2iL8YyEJkQtSnYxjerRy4Nvl9UCyao/s1600/breaking-news%20small.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXVUOyTGEYU8RiHMHYniDmeALrfUKZCxNvS3JhRuPrKdgy2f_EwOjmlYrh-lyYY0z3LwwjCYCZPpf5neQYXkZvZwSXOZ_xn-19F2JPR9Y2yO9TDR2iL8YyEJkQtSnYxjerRy4Nvl9UCyao/s1600/breaking-news%20small.jpg" /></a><a href="http://3.bp.blogspot.com/_tIbbIE0b5es/S4Q-X1UrgbI/AAAAAAAAAJg/cc5RBR7MufU/s1600/GS%20for%20Links%20and%20News%20logo.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://3.bp.blogspot.com/_tIbbIE0b5es/S4Q-X1UrgbI/AAAAAAAAAJg/cc5RBR7MufU/s1600/GS%20for%20Links%20and%20News%20logo.png" /></a></div><br />
<div style="text-align: center;"><b>For the latest news and information on Goldman Sachs, the historic SEC lawsuit against them for fraud and the Senate Hearings held Tuesday go to <a href="http://www.gloldmansachs666.com./">www.GloldmanSachs666.com.</a></b></div><div style="text-align: center;"><b><br />
</b></div><div style="text-align: center;"><b>My comments and opinions appear in my column - Larry's Corner.</b></div><div style="text-align: center;"><br />
</div><div style="text-align: center;">The truth behind the housing bubble, the ensung meltdown add the economic crisis here and abroad is beginning to rear its ugly head. Our goal here of exposing the truth and the guilty could be happening. However, it still needs the support of the population to force the truth. Government may not want it to surface.</div><div style="text-align: center;"><br />
</div><div style="text-align: center;"><br />
</div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com1tag:blogger.com,1999:blog-4500262105442376419.post-198205466802122192010-04-18T19:23:00.001-04:002010-04-18T19:24:46.983-04:00Goldman Charged By SEC With FRAUD<div style="text-align: center;"><b style="background-color: white; color: black;"> VISIT <a href="http://www.goldmansachs666.com/">www.GoldmanSachs666.com</a> daily for updates to this story.</b></div><div style="text-align: center;">Wall Street Journal's MarketWatch says <a href="http://www.goldmansachs666.com/">GoldmanSachs666</a> is one of ten Wall Street blogs You Must Bookmark Now.</div><br />
The news broke late Friday afternoon. The SEC charged Goldman Sachs with Fraud. A civil not criminal case that may never see the inside of a court room but the opening of a very large door.<br />
<br />
This is major news and the beginning of some justice that this blog and I have been asking for for three years now.<br />
<br />
Yes, I have been talking and attempting to expose the crimes of Wall Street and major Banks like WAMU, BofA, Wells Fargo, Wachovia, Countrywide. Yes, I have said that Merill Lynch, Bear Stearns and Lehman were the primary causes of the initial so called mortgage meltdown and the ensuing world wide economic collapse. Yes, I have implicated Goldman Sachs and even called them the ringleaders of this cartel. But, with all the verifications of wrong doing over the past three years, no one in our government - Federal or State - nor our lawmakers and regulators have seen fit to take any positive action. <br />
<br />
Indeed, many have gone to jail for fraud, specifically mortgage fraud but those are what I refer to as the "street pushers". The major suppliers - the Drug Lords- go unnamed and unpunished.<br />
<br />
This action by the SEC - a coming out if you will - should open the flood gates of more investigations and charges criminally for all of those implicated in what I also call The Greatest Fraud In The History Of The World.<br />
<br />
This is an important first step towards justice even though this action in itself will prove to be of little consequence. Yes, there will be a fine settled out of court as the likelihood of a trial is minimal in these cases.<br />
<br />
But it is a first step. The UK and Germany are already calling for investigations in their countries of Goldman Sachs and I would bet those investigations will open a Pandora's Box in terms of the involvement of banks such as Deutsche Bank, USP and others. <br />
<br />
This story will go on for many months if not years but it is a beginning to the justice I have been calling for and possibly a vindication - albeit too late - for the mortgage broker industry who took all the blame directly from all of those that were the cause - Wall Street Bankers.<br />
<br />
<b>FOR MORE INFORMATION ON THIS BREAKING STORY, PLEASE BOOKMARK MY SISTER SITE: www.GoldmanSachs666.com where you will find all the news links, commentary, videos and other stories on this BREAKING NEWS.</b><br />
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<li class="zemanta-article-ul-li"><a href="http://r.zemanta.com/?u=http%3A//www.guardian.co.uk/business/2010/apr/18/gordon-brown-angela-merkel-goldman-sachs&a=16709453&rid=9b28241e-9f65-41be-8b4e-8e5f314f767c&e=d42c567c7fb2fe4637517176fc2967b3" rel="nofollow">Gordon Brown and Angela Merkel attack Goldman Sachs</a> (guardian.co.uk)</li>
<li class="zemanta-article-ul-li"><a href="http://www.atomiurl.com/sec-says-goldman-sachs-defrauded-investors-veterans-today" rel="nofollow">SEC Says Goldman Sachs Defrauded Investors : Veterans Today</a> (atomiurl.com)</li>
<li class="zemanta-article-ul-li"><a href="http://seattletimes.nwsource.com/html/businesstechnology/2011627388_apussecgoldmansachschargedglance.html?syndication=rss" rel="nofollow">Companies facing federal charges in wake of crisis</a> (seattletimes.nwsource.com)</li>
<li class="zemanta-article-ul-li"><a href="http://paul.kedrosky.com/archives/2010/04/bloombergnpr_ro.html" rel="nofollow">Bloomberg & NPR Roll Out Special Goldman Sachs Programming</a> (paul.kedrosky.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.ritholtz.com/blog/2010/04/sec-sues-goldman-sachs/" rel="nofollow">SEC Sues Goldman Sachs</a> (ritholtz.com)</li>
<li class="zemanta-article-ul-li"><a href="http://grantlawrence.blogspot.com/2010/04/other-major-banks-did-dirty-deals-like.html" rel="nofollow">Other Major Banks Did Dirty Deals Like Goldman</a> (grantlawrence.blogspot.com)</li>
<li class="zemanta-article-ul-li"><a href="http://themoderatevoice.com/69616/behind-the-sec-suit-against-goldman-sachs/" rel="nofollow">Behind The SEC Suit Against Goldman Sachs</a> (themoderatevoice.com)</li>
<li class="zemanta-article-ul-li"><a href="http://opinionator.blogs.nytimes.com/2010/04/16/goldmans-stacked-bet/?partner=rss&emc=rss" rel="nofollow">Goldman's Stacked Bet</a> (opinionator.blogs.nytimes.com)</li>
<li class="zemanta-article-ul-li"><a href="http://blogs.wsj.com/deals/2010/04/15/the-boardroom-battle-that-cost-merrills-shareholders-50-billion/" rel="nofollow">The Boardroom Battle That Cost Merrill's Shareholders $50 Billion</a> (blogs.wsj.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/janet-tavakoli/bank-of-americas-sharehol_b_420119.html" rel="nofollow">Janet Tavakoli: Bank of America's Shareholders (and All Wall Street Shareholders) Should Reject Bonus Plans</a> (huffingtonpost.com)</li>
<li class="zemanta-article-ul-li"><a href="http://r.zemanta.com/?u=http%3A//www.telegraph.co.uk/finance/newsbysector/banksandfinance/7604808/Fabrice-Tourre-email-is-key-to-SECs-evidence.html&a=16709802&rid=9b28241e-9f65-41be-8b4e-8e5f314f767c&e=1c28ae4cf3cf6c5f7e5ecd8775c393c7" rel="nofollow">Fabrice Tourre email is key to SEC's evidence</a> (telegraph.co.uk)</li>
<li class="zemanta-article-ul-li"><a href="http://www.dailyfinance.com/story/investing/inside-the-secs-legal-case-against-goldman-sachs/19443106/" rel="nofollow">Inside the SEC's Legal Case Against Goldman Sachs</a> (dailyfinance.com)</li>
<li class="zemanta-article-ul-li"><a href="http://themoderatevoice.com/69550/sec-files-civil-fraud-charges-against-goldman-sachs/" rel="nofollow">SEC Files Civil Fraud Charges Against Goldman Sachs</a> (themoderatevoice.com)</li>
</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://reblog.zemanta.com/zemified/9b28241e-9f65-41be-8b4e-8e5f314f767c/" title="Reblog this post [with Zemanta]"><img alt="Reblog this post [with Zemanta]" class="zemanta-pixie-img" src="http://img.zemanta.com/reblog_e.png?x-id=9b28241e-9f65-41be-8b4e-8e5f314f767c" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com0tag:blogger.com,1999:blog-4500262105442376419.post-62855684091567497542010-04-13T01:57:00.000-04:002010-04-13T01:57:01.217-04:00Financial Crisis Hearings Are A Waste of Time<meta content="text/html; charset=utf-8" http-equiv="Content-Type"></meta><meta content="Word.Document" name="ProgId"></meta><meta content="Microsoft Word 11" name="Generator"></meta><meta content="Microsoft Word 11" name="Originator"></meta><link href="file:///C:%5CDOCUME%7E1%5CLarry%5CLOCALS%7E1%5CTemp%5Cmsohtml1%5C01%5Cclip_filelist.xml" rel="File-List"></link><o:smarttagtype name="PostalCode" namespaceuri="urn:schemas-microsoft-com:office:smarttags"></o:smarttagtype><o:smarttagtype name="City" namespaceuri="urn:schemas-microsoft-com:office:smarttags"></o:smarttagtype><o:smarttagtype name="State" namespaceuri="urn:schemas-microsoft-com:office:smarttags"></o:smarttagtype><o:smarttagtype name="place" namespaceuri="urn:schemas-microsoft-com:office:smarttags"></o:smarttagtype><style>
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<div class="MsoNormal">We have a new four letter commisson, the FCIC which stands for the Financial Crisis Investigation Commission. Got it? They are going to investigate the financial institutions and Wall Street. Isn't that the job of law enforcement or more specifically the U.S. Attorney General's office along with the FBI? I would think so if there were a real earnest effort to expose the multitude of crimes committed by those in some of our regulatory agencies, our Federal Reserve, some elements of the Presidents Cabinet (both past and present), Congress and perhaps even our previous Vice President.<br />
<br />
One of my more favorite reporters, Paul Muolo, who writes for National Mortgage News and has authored several books on the banking crisis, recently wrote and asked the same questino in his recent weekly feature, <a href="http://nationalmortgagenews.com/columns/hearing/?id=1108">"What We're Hearing".</a> Here is the excerpt from his column.</div><div class="MsoNormal"><o:p></o:p></div><blockquote><div class="MsoNormal"><b>COMMENTARY:</b> I'm starting to wonder whether these financial crisis hearings are turning out to be a total waste of time (and taxpayer money). The commission is calling witnesses (players in the crisis) to testify about how they screwed up. It's been almost two years now and these "players" (<b>Dan Mudd</b>, <b>Charles Prince</b> and regulator <b>Jim Lockhart</b>) have had plenty of time to come up with rationalizations about what went wrong. <b>Rob Levin</b>, a former executive at Fannie Mae, told the panel that the success of the private-label MBS market "threatened" the GSE and drove it into the arms of the alt-A market. In other words, if they didn't buy this crap their seller/servicers would've bolted for Wall Street. (Gee, that would've been awful.) And then Lockhart said FanFred encouraged poor underwriting standards by not aggressively forcing their seller/servicers to repurchase bad loans. (Note: FanFred certainly are not shy about buybacks now.) OK, if things were so bad, why did Lockhart, in the summer of 2008, say there would be no takeover of FanFred? What we're lacking in this crisis is a Washington hero, a regulator like <b>Ed Gray</b> (of the S&L crisis) who should have stood up to the power elite (in this case, FanFed, the Federal Reserve, Wall Street) and laid down the law or at least spilled his guts to the press. But we had none of this. In seems the days of <st1:state w:st="on"><st1:place w:st="on">Washington</st1:place></st1:state> regulators having the guts to leak information to the press (ala the Pentagon Papers or Watergate) are long gone. I guess these government bureaucrats are too concerned about keeping their jobs or securing for themselves a golden parachute in the private sector. But make no mistake about it: we in the press don't break into offices and steal documents (e-mails). Someone needs to leak it to us. Feel free to leak away in the future and send me some confidential emails, a bank examination report, anything. Am I begging? OK. If you're concerned about being detected, mail it to me at 4401 Wilson Blvd./Suite 910/<st1:place w:st="on"><st1:city w:st="on">Arlington</st1:city>, <st1:state w:st="on">VA</st1:state> <st1:postalcode w:st="on">22203</st1:postalcode></st1:place>. (P.S. Don't waste my time with "imagined" crimes)...<o:p></o:p></div></blockquote><div class="MsoNormal">It is funny that I wrote about the suspicious activity by Fannie/Freddie - Paul refers to them as FanFred - almost three years ago. Back then everyone was saying and accusing mortgage brokers of "peddling" that terrible sub prime product. If the industry had stayed to the FanFred programs - it was said - the country would not have been in the cirisis. <br />
<br />
Wrong, I was trying to tell everyone. Fannie and Freddie were as involved in creating the mortgage meltdown and the ensuing economic crisis as were the other banksters on Wall Street. Even then corruption was rampant at FanFred and when they were caught "cooking the books" they got a slap on the wrist and it was business as usual. In other words "see no eveil, hear no evil speak no evil" but if evil rears its ugly head then just brush it under the rug so it can continue to fester but just out os sight.<br />
<br />
This is waht this FCIC thing is all about. The evil has surfaced. Wow, we have been hearing about it for two years now in Congressional hearing after Congressonal hearing as well as on major television news and in major newspapers around the world. <br />
<br />
The FBI in 2007 said they were "investigating" 18 banks but to this day they never disclosed who they were and what the results were. Maybe because the crooked banks were quickly absorbed into other crooked banks, making them Too Big To Fail thus Too Big to Touch.<br />
<br />
The crime here is not the crimes that were committed by the banks, government, politicians et al, the crime here is the coverup of the greatest ponzi scheme and scam ever perpetrated on the people of the world. It is the greatest cover up in the history of mankind and I fear the truth will not surface for perhaps a hundred years or more.<br />
<br />
<b><span style="color: #ff6666;">Please see my Feature column - Larry's Corner - included in my Daily News Links column at www.GoldmanSachs666.com.</span></b></div><div class="MsoNormal"><br />
</div><div class="zemanta-related"><h6 class="zemanta-related-title" style="font-size: 1em; margin: 1em 0pt 0pt;">Related articles by Zemanta</h6><ul class="zemanta-article-ul"><li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/2010/04/09/former-top-fannie-mae-exe_n_531796.html" rel="nofollow">Former Top Fannie Mae Execs Grilled On Compensation, Lobbying Of Congress (VIDEO)</a> (huffingtonpost.com)</li>
<li class="zemanta-article-ul-li"><a href="http://blogs.wsj.com/deals/2010/04/08/this-anti-wall-street-film-isnt-just-for-michael-moore-fans/" rel="nofollow">This Anti-Wall Street Film Isn’t Just for Michael Moore Fans</a> (blogs.wsj.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.gloucestercitynews.net/clearysnotebook/2010/04/obama-following-same-path-clinton-did-that-led-to-crisis.html" rel="nofollow">Obama Following Same Path Clinton Did That Led To Crisis</a> (gloucestercitynews.net)</li>
<li class="zemanta-article-ul-li"><a href="http://www.benzinga.com/215422/finger-pointing-and-payoffs" rel="nofollow">Finger Pointing and Payoffs</a> (benzinga.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.seeingtheforest.com/archives/2010/03/todays_mustread_4.htm" rel="nofollow">Today's Must-Read</a> (seeingtheforest.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2010/04/09/bloomberg1376-L0LBI90D9L35-6.DTL&feed=rss.business" rel="nofollow">Fannie Mae Was Felled by Flawed Business Model, Regulators Say</a> (sfgate.com)</li>
<li class="zemanta-article-ul-li"><a href="http://blogs.wsj.com/washwire/2010/02/05/investigating-the-financial-crisis-the-next-steps/" rel="nofollow">Investigating the Financial Crisis: The Next Steps</a> (blogs.wsj.com)</li>
</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://reblog.zemanta.com/zemified/a930a84e-ba9f-44fd-ba4c-8c7520542e02/" title="Reblog this post [with Zemanta]"><img alt="Reblog this post [with Zemanta]" class="zemanta-pixie-img" src="http://img.zemanta.com/reblog_e.png?x-id=a930a84e-ba9f-44fd-ba4c-8c7520542e02" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com0tag:blogger.com,1999:blog-4500262105442376419.post-29706667901787179752010-03-31T00:43:00.001-04:002010-03-31T00:55:12.398-04:00Break Up The Too Big Too Fail BanksI have been preaching this sermon as has Sheila Bair, Chair of the FDIC. Now a former IMF<br />
economist says the same. I know my opinion doesn't count for much but his should as should<br />
Ms. Bair's.<br />
<h1><span style="font-size: small;"><a href="http://www.reuters.com/article/idUSTRE62T45N20100330?loomia_ow=t0:s0:a49:g43:r1:c0.115385:b32340272:z0">Economist Johnson urges breakup of big U.S. banks</a></span><span style="font-size: x-small;"><span id="articleText"><span class="focusParagraph">(Reuters) - America's big banks must be broken up and their risk-taking curtailed or the world's richest economy will face another massive financial crisis, former IMF chief economist Simon Johnson says in a new book.</span></span></span></h1><blockquote>n "13 Bankers, The Wall Street Takeover and the Next Financial Meltdown," published on Tuesday, Johnson and his co-author James Kwak describe Wall Street as an oligarchy holding the country hostage to its risk-taking.<br />
<br />
According to Johnson, when the financial crisis hit in 2008 and 2009 and the banking system was rescued with a government bailout, Washington made a crucial misstep.<br />
<br />
"The process of saving them ... has allowed them to build themselves up so that their balance sheets are now bigger than they were before the crisis. That doesn't make any sense, the too big to fail problem has become worse."<br />
<span id="articleText"><br />
"The crisis exacerbated the problem by allowing the largest banks to get bigger at precisely the moment that the government should have been doing everything in its power to make them smaller," Johnson told Reuters in an interview.<br />
<br />
<span id="articleText">Now the six biggest banks are even bigger than they were in 2008, which means that unless there is significant reform of the financial system it is only a matter of time before there is another financial system collapse, the book contends.</span> <br />
</span></blockquote><h1><span style="font-size: small;">Read the full article...<a href="http://www.reuters.com/article/idUSTRE62T45N20100330?loomia_ow=t0:s0:a49:g43:r1:c0.115385:b32340272:z0">click here</a></span></h1><h1 style="font-weight: normal;"><span style="font-size: small;">We as a nation are being manipulated, used and enslaved. Only the elite class will survive as most of what is being done - legislation, laws, rules and new agencies - are all for the purpose of creating a nation of "economic slaves" where the ruling "elite" hae and control everything.</span></h1><h1 style="font-weight: normal;"><span style="font-size: small;">Don't be fooled. Listen to our new jargon - Homeland Security, New World Order, Patriot Act, Too Big Too Fail, Bailout and more. All words that are made to sound democratic in a free society but words that actually mask the dark side of the truth that is rearing its ugly head. </span></h1><h1 style="font-weight: normal;"><span style="font-size: small;">Doesn't anyone wonder why some things never change from administration to administration and from Republican to Democrat control? Why you must ask, is everything always the same when they should be different?</span></h1><h1 style="font-weight: normal;"><span style="font-size: small;">Why did Obama follow the same "bailout" road that his totally different predecessor was on? Why are some members of the cabinet from different political parties but from the same fraternities? Why are so many Presidential advisers recycled from administration to administration? </span></h1><h1 style="font-weight: normal;"><span style="font-size: small;">To regain our democratic control and reinstate all of our constitutional rights we must start with the break up of these banks (monopolies) which in turn would diminish the role and power of The Fed - which must also go.</span></h1><h1 style="font-weight: normal;"><span style="font-size: small;"><br />
</span></h1><div class="zemanta-related"><h6 class="zemanta-related-title" style="font-size: 1em; margin: 1em 0pt 0pt;">Related articles by Zemanta</h6><ul class="zemanta-article-ul"><li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/huff-tv/simon-johnson-bailed-out_b_519015.html" rel="nofollow">Huff TV: Simon Johnson: Bailed Out Banks Are Even Bigger, More Powerful Than They Were Before The Crisis (VIDEO)</a> (huffingtonpost.com)</li>
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<li class="zemanta-article-ul-li"><a href="http://seekingalpha.com/article/192241-bank-failure-friday-report?source=feed" rel="nofollow">Bank Failure Friday Report</a> (seekingalpha.com)</li>
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<li class="zemanta-article-ul-li"><a href="http://www.huffingtonpost.com/2010/03/25/casting-too-big-to-fail-w_n_512757.html" rel="nofollow">Casting 'Too Big To Fail': Which Celebs Should Appear In The Movie Of The Financial Crisis? (PHOTOS)</a> (huffingtonpost.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.bendbulletin.com/apps/pbcs.dll/article?AID=/20100328/NEWS0107/3280309/-1/rss" rel="nofollow">Banks too big to fail will spark new crisis, authors argue</a> (bendbulletin.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.dailykos.com/storyonly/2010/3/28/851536/-Too-Big-to-Live" rel="nofollow">Too Big to Live</a> (dailykos.com)</li>
<li class="zemanta-article-ul-li"><a href="http://trueslant.com/johnknefel/2010/03/15/look-upon-this-economics-lecture-and-despair/" rel="nofollow">Look upon this economics lecture and despair</a> (trueslant.com)</li>
</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://reblog.zemanta.com/zemified/b671b491-2e3e-4ada-8125-1e01ecb44d74/" title="Reblog this post [with Zemanta]"><img alt="Reblog this post [with Zemanta]" class="zemanta-pixie-img" src="http://img.zemanta.com/reblog_e.png?x-id=b671b491-2e3e-4ada-8125-1e01ecb44d74" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com2tag:blogger.com,1999:blog-4500262105442376419.post-54968806021147868282010-03-01T17:50:00.000-05:002010-03-01T17:50:36.435-05:00Former IRS Agent Speaks Out on "Restore The Republic" This is a MUST SEE video for all who want to restore the freedom in our Republic. Our system is broken and we, the people, are being violated. Watch, listen and comment if you dare. Unfortunately I cannot embed it but the link is below. <br />
<br />
<div style="text-align: center;"><b><a href="http://realityreport.tv/">http://RealityReport.TV</a> | <a href="http://restoretherepublic.com/">http://RestoreTheRepublic.com</a> | </b></div><br />
In this edition of the Reality Report former IRS Special Agent Joseph Banister joins Gary to weigh in on Joseph Stack's attack on the IRS building in Austin. Franchi also presents stories on Citigroup's recent bank run prevention plan and Ron Paul's recent straw poll victory at CPAC. We also unspin ABC's attempts at demonizing patriots, expose CNN's simulation, present Utah's recent legislative action against the Federal Government and spot light on Glenn Beck's ratings drop. Gary brands a new "Enemy of the State" and reads from the mailbag.<br />
<br />
<br />
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<li class="zemanta-article-ul-li"><a href="http://www.dailykos.com/storyonly/2010/2/20/839068/-Ron-Paul-wins-CPAC-2012-Presidential-straw-poll">Ron Paul wins CPAC 2012 Presidential straw poll</a> (dailykos.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.americablog.com/2010/02/frank-rich-unhinged-and-sometimes-armed.html">Frank Rich: 'the unhinged and sometimes armed anti-government right...is making a comeback'</a> (americablog.com)</li>
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<li class="zemanta-article-ul-li"><a href="http://timesonline.typepad.com/oliver_kamm/2010/02/the-partys-over.html">The party's over</a> (timesonline.typepad.com)</li>
<li class="zemanta-article-ul-li"><a href="http://newsbusters.org/blogs/brad-wilmouth/2010/02/21/huffington-repeats-charge-disturbing-violent-imagery-cpac-abc-s-week">Huffington Repeats Charge of 'Disturbing' & 'Violent Imagery' at CPAC on ABC's This Week</a> (newsbusters.org)</li>
</ul></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://reblog.zemanta.com/zemified/f05a503f-935d-4135-8800-12a204fa6ad6/" title="Reblog this post [with Zemanta]"><img alt="Reblog this post [with Zemanta]" class="zemanta-pixie-img" src="http://img.zemanta.com/reblog_e.png?x-id=f05a503f-935d-4135-8800-12a204fa6ad6" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com5tag:blogger.com,1999:blog-4500262105442376419.post-92144989316695904462010-02-24T00:46:00.000-05:002010-02-24T00:46:44.045-05:00Goldman Sachs Lending To Aircraft Leasing Company Owned by AIG<span style="background-color: #d9ead3; font-size: x-small;"><b>Editor's Note:I wrote and published this piece for GoldmanSachs666.com<a href="http://www.goldmansachs666.com/2010/02/goldman-sachs-lending-to-aircraft.html"> http://www.goldmansachs666.com/2010/02/goldman-sachs-lending-to-aircraft.html</a>.</b></span><br />
<blockquote> <span class="group1">by Larry Rubinoff | Wednesday, February 24, 2010 </span></blockquote><blockquote><span></span> <span class="group2"> </span> <br />
I just could not resist writing this post. The headline in <a href="http://bloomberg.com/">Bloomberg.com</a> reads: "<span class="news_story_title" style="display: inline;"><b><a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=aLf0YR7Uuz6E&pos=7">AIG Plane Unit Seeks $750 Million Loan Through BofA, Goldma</a>n.</b> Ok, so BofA and GS are lending big money to a big company. What's wrong with that? Here is what's wrong with that. This loan is to taxpayer overly bailed out AIG. Now, I thought we bailed out AIG so GS could get the back door payment (just kidding, I know that was not the reason) and most of all to keep the world's economy from crashing (most of it did anyway). </span><br />
<br />
<span class="news_story_title" style="display: inline;">So, what is AIG doing in the plane business and did any of our bailout money go to save a plane leasing company? You bet it did.</span><br />
<br />
<blockquote>ILFC (the AIG unit-explanation added), one of the biggest customers for <a href="http://www.bloomberg.com/apps/quote?ticker=BA%3AUS" onmouseover="return escape( popwQuoteShort( this, 'BA:US' ))">Boeing Co.</a> and Airbus SAS, is seeking to borrow outside of AIG for the first time since losing access to its traditional sources after the insurer’s rescue in September 2008. <b>New York-based AIG used U.S. bailout funds to prop up ILFC with a $1.7 billion credit line in March and $2 billion in October. </b><span class="news_story_title" style="display: inline;">(emphasis added but cannot be emphasized enough!)</span></blockquote><span class="news_story_title" style="display: inline;">Outraged? You bet I am!</span><br />
<span class="news_story_title" style="display: inline;"></span><br />
<span class="news_story_title" style="display: inline;"> Our bailout money bailed out a non financial industry and they are not even in the automobile business. Now, Goldman and BofA are going to use more of our bailout money to loan this AIG owned company some more.</span><br />
<span class="news_story_title" style="display: inline;"></span><span class="news_story_title" style="display: inline;"></span><br />
<span class="news_story_title" style="display: inline;">How many more of these "insider", "backdoor" deals are going on? How much more of our money are these Too Big To Fail Fat Cats going to use to keep themselves and their buddies and affililiates in the "green". What happened to let em fail just like the thousands upon thousands of small business in this country that were allowed to fail? Small business, that produces the most jobs, the most taxes and maintains the disappearing middle class?</span><br />
<span class="news_story_title" style="display: inline;"></span><br />
<span class="news_story_title" style="display: inline;"> </span><br />
<span class="news_story_title" style="display: inline;">Do I care if an airplane leasing company goes out of business? No I don't. Do I care if Boeing loses its biggest customer? Not really. Do I care if Airbus SAS - not even an American company fails? Absolutely NOT! I am outraged even more just when the rage was beginning to subside<b> just a little</b>.</span><br />
<blockquote>“We anticipate selling some ILFC assets in the future,” <a href="http://search.bloomberg.com/search?q=Robert+Benmosche&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1" onmouseover="return escape( popwSearchNews( this ))">Robert Benmosche</a>, AIG’s chief executive officer, said in a statement this month when the company announced the departure of <a href="http://search.bloomberg.com/search?q=Steven+Udvar-Hazy&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1" onmouseover="return escape( popwSearchNews( this ))">Steven Udvar-Hazy</a> as leader of the Los Angeles-based plane unit. “We continue to review other options, including accessing the capital markets through secured debt financing.” </blockquote>Wait a minute. <b>You have assets </b>and you are considering selling them<b> in the future</b>? Isn't that what should have been done before your owner - AIG - gave you our bailout money? Isn't that what you should be doing now? Isn't that what people are doing everyday all over the country? And isn't that the ONLY alternative most small business has to raise capital? Wake Up America!<br />
<br />
Remember the old saying where there is smoke there is fire. Well, the smoke is pretty thick around Goldman Sachs, Bank of America and AIG but there is no fire because the likes of Paulson, Geithner, Bernanke and the Administration - past and present - keep putting it out at our expense. <b> We starve and they thrive </b>with our money. What a smoke screen they have put up thinking we Americans are that stupid. Guess again, we are not and we are coming out of the ether and we will blow right through their smoke.<br />
<br />
But there is more insult to this travesty of justice against the American people.<br />
<blockquote><a href="http://search.bloomberg.com/search?q=Mark+Herr&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1" onmouseover="return escape( popwSearchNews( this ))">Mark Herr</a>, a spokesman for AIG, <a href="http://search.bloomberg.com/search?q=Kerrie+McHugh&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1" onmouseover="return escape( popwSearchNews( this ))">Kerrie McHugh</a>, a Bank of America spokeswoman, and <a href="http://search.bloomberg.com/search?q=Michael+DuVally&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1" onmouseover="return escape( popwSearchNews( this ))">Michael DuVally</a>, a Goldman Sachs spokesman, declined to comment. </blockquote>Hmmmm? (The onlly literary word for the above comment) But read on, there is more.<br />
<blockquote><b>Cut to Junk </b><br />
ILFC is seeking loans less than a week after being <b>cut to junk </b>status by Fitch Ratings on concern about whether AIG would continue to provide support. The downgrade affected about $18 billion of debt, Fitch said in a Feb. 18 statement. (emphasis once again added)<b><br />
</b></blockquote>AIG's, International Lease Finance Corporation (ILFC) company is <b>JUNK</b> to begin with. Didn't a man by the name of Milkin go to prison for selling "junk" bonds? I guess Mr. Milkin played the game a little to early - before it became fashionable and lawful to peddle junk. At least I can say one thing about Mr. Milkin I cannot say about the rest of the band of crooks, he was up front in telling people what he was selling. He called them<b> JUNK BONDS</b> not things like credit default swaps, derivatives, AAA rated MBS's and CDO's - all fancy names for<b> junk</b> to knowingly mislead investors and other governments around the world.<br />
<br />
I believe the world's financial markets would be better off without AIG, Goldman Sachs, JP Morgan and all the rest of this band of thieves. We should have let them fail and used the trillions of dollars on our own citizens. Every trillion dollar would have given about $300 to every person in this country and that is money they would have put back into the economy. Poof, no Recession, real money flowing to real people circulating in our economy. How many trillions of dollars will we have given away to the AIG's of this country? One, two, three or more? Do the math. What I just suggested is "real" trickle down economics.<br />
<br />
Read the whole story...<a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=aLf0YR7Uuz6E&pos=7">click here</a></blockquote><br />
<span class="news_story_title" style="display: inline;"> </span><fieldset class="zemanta-related"><legend class="zemanta-related-title">Related articles by Zemanta</legend><ul class="zemanta-article-ul"><li class="zemanta-article-ul-li"><a href="http://seattletimes.nwsource.com/html/businesstechnology/2010988139_apusaigilfcceo.html?syndication=rss">Head of AIG's aircraft leasing unit steps down</a> (seattletimes.nwsource.com)</li>
<li class="zemanta-article-ul-li"><a href="http://r.zemanta.com/?u=http%3A//www.businessweek.com/news/2010-02-04/aig-s-udvar-hazy-steps-down-as-chief-of-ilfc-plane-leasing-unit.html&a=12596088&rid=20f1b9c0-a9ab-40d2-80dd-79e0ef9038ba&e=93f95a11e3144370b1a9bac9f133b403">AIG's Udvar-Hazy Steps Down as Chief of ILFC Plane-Leasing Unit</a> (businessweek.com)</li>
<li class="zemanta-article-ul-li"><a href="http://online.wsj.com/article/SB20001424052748703415804575023570104443404.html">Udvar-Hazy of ILFC Will Depart AIG Unit</a> (online.wsj.com)</li>
<li class="zemanta-article-ul-li"><a href="http://eon.businesswire.com/news/eon/20100222007147/en">ILFC Announces Proposed $750 Million Senior Secured Term Loan</a> (eon.businesswire.com)</li>
<li class="zemanta-article-ul-li"><a href="http://eon.businesswire.com/news/eon/20100204006996/en">ILFC CEO Steven Udvar-Hazy to Retire</a> (eon.businesswire.com)</li>
</ul></fieldset><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://reblog.zemanta.com/zemified/20f1b9c0-a9ab-40d2-80dd-79e0ef9038ba/" title="Reblog this post [with Zemanta]"><img alt="Reblog this post [with Zemanta]" class="zemanta-pixie-img" src="http://img.zemanta.com/reblog_e.png?x-id=20f1b9c0-a9ab-40d2-80dd-79e0ef9038ba" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com1tag:blogger.com,1999:blog-4500262105442376419.post-47958621826230351622010-02-20T17:46:00.000-05:002010-02-20T17:46:26.506-05:00How One Man Is Fighting Back Against The BanksThis story was published on <a href="http://msnbc.com/">MSNBC.com.</a><br />
<br />
<br />
<div style="text-align: center;"><a href="http://frustrated%20owner%20bulldozes%20home%20ahead%20of%20foreclosure%20man%20says%20actions%20intended%20to%20send%20message%20to%20banks/"><b><span style="font-size: small;">Frustrated Owner Bulldozes Home Ahead Of Foreclosure</span></b></a><br />
<span style="font-size: small;"> <span style="font-size: x-small;">Man Says Actions Intended To Send Message To Banks</span></span><br />
<span style="font-size: small;"><a href="http://frustrated%20owner%20bulldozes%20home%20ahead%20of%20foreclosure%20man%20says%20actions%20intended%20to%20send%20message%20to%20banks/">click here</a>...to read full story</span></div><div style="text-align: center;"><img src="http://images.ibsys.com/media/200X150/22613650.jpg" width="300" /></div><br />
While this is pretty extreme, it shows the level of frustration people all around this country are experiencing and what they will do to fight back. The recent plane crash into a building in Austin, Texas was yet another "over the top" example. There are better ways to fight back without injuring or killing oneself and others. This is NOT, I repeat, NOT the way to fight back but is an example of how far some will go. People can only be pushed so far and everyone has their breaking point. <br />
<br />
The rise of so many groups and organizations as well as blogs are an indication of how the numbers of those fed up and frustrated with the actions or inactions of our <a class="zem_slink" href="http://en.wikipedia.org/wiki/Government" rel="wikipedia" title="Government">government</a>.<br />
<br />
The truth of the matter is, we have for too long now relied on the government to provide for us and have asked them to regulate every time something went wrong. Now regulation seems to be the solution for everything. One of the first reactions to the Austin suicide plane crash was to regulate private aircraft and even have Air Marshall's on private planes. How absurd. Someone should be asking, "what is government doing to cause the growing dissatisfaction amongst the population"? <br />
<br />
If we continue to regulate and make laws for everything, our freedom is certainly a thing of the past. Over regulation creates a police state not a free Democratic Republic.<br />
<br />
The answers to our problems lie not with our politicians - who work for their own agenda's and futures - but with each of us as patriotic Americans. Patriotism should be packaged and sold by Wall Street not junk, explosive securities. <br />
<br />
Some Patriots are politicians but not all politicians are Patriots<br />
<div style="text-align: center;"></div><div style="text-align: center;"></div><div style="text-align: center;"></div><div style="text-align: center;"><br />
</div><h1></h1><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://reblog.zemanta.com/zemified/9be6d8f4-bee7-41de-a10b-806c4ba80c37/" title="Reblog this post [with Zemanta]"><img alt="Reblog this post [with Zemanta]" class="zemanta-pixie-img" src="http://img.zemanta.com/reblog_e.png?x-id=9be6d8f4-bee7-41de-a10b-806c4ba80c37" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com1tag:blogger.com,1999:blog-4500262105442376419.post-1185196264500134912010-02-16T01:12:00.001-05:002010-02-16T02:10:30.684-05:00What Is Happening In And To Our Nation? A possible view<span style="color: black; font-family: Arial; font-size: x-large;"><span style="color: black; font-family: Arial; font-size: 24pt;"><span style="font-size: small;">Editor's Note: The following was sent to me via email. The email authorized forwarding this information and in fact, encouraged it. I do not know the original source and am doing more research into it. One of the links below led me to a site called <a href="http://peacerevolution.podomatic.com/">"Peaceful Revolution"</a> (linkedto podcast) which had a podcast that was both informative and frightening. The podcast is rather long and the first ten minutes are no more then introductions and acknowledgments but it is WORTH listening to.</span></span></span><br />
<div><h1 style="font-weight: normal;"><span style="color: black; font-family: Arial; font-size: x-large;"><span style="color: black; font-family: Arial; font-size: 24pt;"><span style="font-size: small;">This piece, as you read it, rings true and brings out some very good points that we all can relate to and are experiencing now. It relates to a move to a "<a class="zem_slink" href="http://en.wikipedia.org/wiki/Identity_document" rel="wikipedia" title="Identity document">national identity card</a>" - which I oppose strongly as it will lead to a "show me your papers" (said in a strong German accent) form of government.</span></span></span></h1><h1 style="font-weight: normal;"><span style="color: black; font-family: Arial; font-size: x-large;"><span style="color: black; font-family: Arial; font-size: 24pt;"><span style="font-size: small;">Freedom has been disappearing for quite a number of years. When George H.W. Bush uttered the words, <a class="zem_slink" href="http://en.wikipedia.org/wiki/New_world_order_%28politics%29" rel="wikipedia" title="New world order (politics)">New World Order</a>, when George W. Bush created the <a class="zem_slink" href="http://en.wikipedia.org/wiki/USA_PATRIOT_Act" rel="wikipedia" title="USA PATRIOT Act">Patriot Act</a> and established "Homeland (sounds like "Fatherland" spoken with a heavy German accent) Security and began the wire tapping of all Americans, our true freedoms as Americans became very evident.</span></span></span></h1><h1 style="font-weight: normal;"><span style="color: black; font-family: Arial; font-size: x-large;"><span style="color: black; font-family: Arial; font-size: 24pt;"><span style="font-size: small;">The podcast linked above gives more detail on "The New World Order" along with an expose of the <a class="zem_slink" href="http://en.wikipedia.org/wiki/Rothschild_family" rel="wikipedia" title="Rothschild family">Rothschild family</a> who control banking in England and France (and probably America to).</span></span></span></h1><h1 style="text-align: center;"><b><span style="color: black; font-family: Arial; font-size: x-large;"><span style="color: black; font-family: Arial; font-size: 24pt;"><span style="font-size: small;">###</span></span></span></b></h1><h1><b><span style="color: black; font-family: Arial; font-size: x-large;"><span style="color: black; font-family: Arial; font-size: 24pt;">The Ficticious(sic) Legal Entity Called "a Person"<o:p></o:p></span></span></b></h1><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;">February 14, 2010 <o:p></o:p></span></span><br />
<div class="MsoNormal"><b><b><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;">by Paul Verge</span></span></b></b><b><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt; font-weight: bold;"><br />
</span></span></b><b><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt; font-weight: bold;"><br />
<i><i><span style="font-family: Arial;"><span style="font-family: Arial;">(Col. House,below, puppeteer of Presidents)</span></span></i></i></span></span></b><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"></span></span><b><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt; font-weight: bold;"><i><i><span style="font-family: Arial;"><span style="font-family: Arial;"></span></span></i></i></span></span></b><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"> <o:p></o:p></span></span></div><br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJt1o_GHlCzsAnnHT_M7usrEynV5f1cyMdxZV4a6KKBjjIJbjueEO0qnI-QlwQz2ApuRviUPv71HF8h1TshV4Kghyphenhyphen49AwbOXaGmMZHwdLFuTe-WIqNGCb2TmZHJzH7mwcT7Wp0q-6AZbfa/s1600-h/Col+House.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJt1o_GHlCzsAnnHT_M7usrEynV5f1cyMdxZV4a6KKBjjIJbjueEO0qnI-QlwQz2ApuRviUPv71HF8h1TshV4Kghyphenhyphen49AwbOXaGmMZHwdLFuTe-WIqNGCb2TmZHJzH7mwcT7Wp0q-6AZbfa/s320/Col+House.jpg" /></a><b><b><span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">A quote, famously </span></span></b></b><span style="color: black; font-family: Cambria;"><span style="color: black; font-family: Cambria;">attributed to Rothschild agent Col. Edward House, but rarely understood except by "one man in a million" envisages people as collateral on the national debt:</span></span><br />
<br />
<i><span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt; font-style: italic;">"[Very] soon<b><span style="font-weight: bold;">, every American will be required to register their biological property in a National system</span></b> designed to keep track of the people and that will operate under the ancient system of pledging.</span></span></i><br />
<br />
<i><span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt; font-style: italic;"> </span></span></i><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<i><span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt; font-style: italic;">By such methodology, <b><span style="font-weight: bold;">we can compel people to submit to our agenda</span></b>, which will affect our security as a chargeback for our fiat paper currency. Every American will be forced to register or suffer not being able to work and earn a living. </span></span></i><br />
<br />
<b><i><span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt; font-style: italic; font-weight: bold;">They will be our chattel</span></span></i></b><i><span style="color: black; font-family: Cambria;"><span style="color: black; font-family: Cambria; font-style: italic;">, and we will <b><span style="font-weight: bold;">hold the security interest over them forever</span></b>, by operation of the law merchant <b><span style="font-weight: bold;">under the scheme of secured transactions</span></b>. Americans, by unknowingly or unwittingly <b><span style="font-weight: bold;">delivering the bills of lading</span></b> to us will be rendered bankrupt and insolvent<b><span style="font-weight: bold;">, forever to remain economic slaves through taxation, secured by their pledges.</span></b></span></span></i><br />
<br />
<i><span style="color: black; font-family: Cambria;"><span style="color: black; font-family: Cambria; font-style: italic;"><b><span style="font-weight: bold;"> </span></b></span></span></i><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<b><i><span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt; font-style: italic; font-weight: bold;">They will be stripped of their rights and given a commercial value designed to make us a profit </span></span></i></b><i><span style="color: black; font-family: Cambria;"><span style="color: black; font-family: Cambria; font-style: italic;">and they will be none the wiser, for not one man in a million could ever figure our plans and, if by accident one or two would figure it out, <b><span style="font-weight: bold;">we have in our arsenal plausible deniability. </span></b></span></span></i><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<i><span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt; font-style: italic;">After all, this is the only logical way to fund government, by <b><span style="font-weight: bold;">floating liens and debt to the registrants in the form of benefits and privileges.</span></b> This will inevitably reap to us huge profits beyond our wildest expectations and<b><span style="font-weight: bold;"> leave every American a contributor or to this fraud which we will call "Social Insurance</span></b>." </span></span></i><br />
<br />
<i><span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt; font-style: italic;"> </span></span></i><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<i><span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt; font-style: italic;">Without realizing it, every American will insure us for any loss we may incur and in this manner; <b><span style="font-weight: bold;">every American will unknowingly be our servant, however begrudgingly</span></b>. The people will become helpless and without any hope for their redemption and<b><span style="font-weight: bold;">, we will employ the high office of the President of our dummy corporation to foment this plot against America</span></b>."</span></span></i><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">If you can decipher what this means, you will truly understand a massive piece of the Global Agenda.</span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">Essentially, House's quote illuminates the multiple "need" for imposing Legal Person's status upon us by the Satanic (Ego Worshipping) Elite.</span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">The '<b><span style="font-weight: bold;">Strawman</span></b>', also known as the <b><span style="font-weight: bold;">Legal Person or Natural Person</span></b> is the idea that a <b><i><span style="font-style: italic; font-weight: bold;">Fictitious Legal Entity</span></i></b>, called a <b><span style="font-weight: bold;">PERSON</span></b>, exists for purposes of Law and Commerce. </span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">This PERSON is similar to a Company or Corporation in that it exists as a construct of the imagination - it has no real body, and no soul to save, but for legal purposes, carries similar rights and attributes to that of a Human Man or Woman.</span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;"> </span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">These rights include Ownership of Property, Lobbying the Government, Voting, and other activities related to money. The PERSON allows us to function with Limited Liability (read: Less Responsibility)</span></span><br />
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<span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><a href="http://en.wikipedia.org/wiki/Corporate_personhood" target="_blank" title="http://en.wikipedia.org/wiki/Corporate_personhood"><span style="font-family: Cambria; font-size: small;" title="http://en.wikipedia.org/wiki/Corporate_personhood"><span style="font-family: Cambria; font-size: 12pt;" title="http://en.wikipedia.org/wiki/Corporate_personhood">http://en.wikipedia.org/wiki/<wbr title="http://en.wikipedia.org/wiki/Corporate_personhood"></wbr>Corporate_personhood</span></span></a></span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">Our primary Legal Person, or "ID Card" consists of Birth Date, Eye color, Hair colour, Height, Weight, and now Fingerprints and Retina-scans, as if that's all we are. Nowhere on an ID Card are your Soul, or your Personality, or your Hopes, Dreams or Capacity to Love ever mentioned...</span></span><br />
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<b><span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt; font-weight: bold;">The emotional insecurities we have about our Bodies are magnified & exploited through constant propaganda and advertising,</span></span></b><span style="color: black; font-family: Cambria;"><span style="color: black; font-family: Cambria;"> while our media hammers away at our psyche, "reminding" us that we are only Bodies, that bodies can only be sexy or ugly, and that <b><span style="font-weight: bold;">Bodies and their Parts must be regarded as Possessions or Objects to be Owned.</span></b></span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">In addition, by <b><span style="font-weight: bold;">Registering</span></b> (signing over to the state) your <b><span style="font-weight: bold;">Biological Property </span></b>(your body and the bodies of your children), creating a <b><span style="font-weight: bold;">Birth Certificate</span></b> (<b><i><span style="font-style: italic; font-weight: bold;">a</span></i></b> <b><i><span style="font-style: italic; font-weight: bold;">Financial Security Instrument representing proof of parental consent in signing over the child</span></i></b>) you are thus Consenting to the State's Ownership of You and Your Children.</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">The State then creates a child's very first Legal PERSON, with the parental signing of the Birth Certificate, which is given a "commercial value". If you have an older-style Birth Certificate, look on the Reverse side of it, to see 3 points of interest.</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">1) A 6-10 digit Number that you have never used in your life.</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">2) The words "Revenue Receipt" on the left side of this number.</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">3) The words "For Treasury Purposes Only" on the right side of the number. </span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">Incidentally, before the 1900's, people USED to write the evidence of a birth in their Family Bible.</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">This first Legal Person attached to you, is known as a <b><span style="font-weight: bold;">"NATIONAL CITIZEN"</span></b> which later becomes synonymous with being a "Government Employee", when you SUBMIT (give in) an APPLICATION (to beg) for REGISTRATION (to sign over your rights) to become a <b><span style="font-weight: bold;">SIN</span></b>ner (by signing up for the Fraud called <b><span style="font-weight: bold;">Social Insurance or Social Security</span></b>).</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">You then receive your Employee ID # (also known as a SIN #) which creates another Person called a <b><span style="font-weight: bold;">"TAXPAYER".</span></b> This means you consent to the Income Tax Act, and now makes you liable for the Income Tax, in exchange for the "Benefits" of being a Government Employee.</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<b><span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt; font-weight: bold;">The Strawman/Legal Person is thus the Evidence of your Signature (an oath) and Consent to Obey a set of Acts or Statutes</span></span></b><span style="color: black; font-family: Cambria;"><span style="color: black; font-family: Cambria;">, usually located on paper contract, or in a card form with your signature.</span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">For example. You sign for a "Drivers License" to create a Legal Person called a "<b><span style="font-weight: bold;">DRIVER"</span></b>, and have consented to follow the Traffic Safety/Motor Vehicle Acts of your state or province.</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">You sign up for a "Bank Account" to create a Legal Person called an "<b><span style="font-weight: bold;">ACCOUNT HOLDER"</span></b>, usually providing your SIN # as part of your "Identification" which consents to allowing access to your bank account by court order to pay your Income Taxes by force!</span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">You sign up for "Voter Registration" to create Legal Person called a "<b><span style="font-weight: bold;">VOTER"</span></b>, which gets to vote for new Employee's and Presidents/Prime Ministers for the Corporation your PERSON resides in, and thus consent to the actions of your representative and their party, even if it means going to war against an innocent foreign country, or proroguing their own Parliament illegally! </span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;"> </span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">There are literally dozens, if not hundreds of different PERSONS you can be holding, but none of them are YOU.</span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">PERSONS must <b><span style="font-weight: bold;">RESIDE</span></b> within another Legal Entity, they cannot "Live" anywhere - that is why you are asked if you are a <b><span style="font-weight: bold;">Resident</span></b> of CANADA or the UNITED STATES. Authorities are not asking you, the Living Man or Woman if you Live in the Country, the are asking if your Legal Person RESIDES (has the right to do business/work) within their Corporation.</span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">We have to know what words mean when people claiming authority try to use Legal words to control us. Legal dictionaries are different than regular dictionaries, because Legal words carry Weight in Law, and are often defined completely differently within various Acts, Statutes and Legal dictionaries. <b><span style="font-weight: bold;">It is literally another language, which is why they call it Legalese.</span></b></span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">SOLUTIONS</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">Only by realizing and discerning WHO we really are : Powerful spiritual beings with unlimited creative potential created by God, can we break the first invisible chain keeping us from freedom.</span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">"You can declare your Rights and stand upon them as a Sovereign Man or Woman by filing "Notices of Understanding and Intent" and "Claims of Right", example of both available on the Web. You must tailor your own Notices and Claims to your own situation. It is not a simple cookie-cutter process.</span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">Standing upon your Sovereignty in court and winning is FACTUAL, but you must not fall for their NAME GAME, where they try to get you to accept your LEGAL NAME, which puts you in their jurisdiction. Doing that, in the eyes of the court, turns you from a Living Human with Human Rights, into a Soulless Corporate Entity with No Rights whatsoever.</span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">The best solution to win against the crooked and corrupt courts is to never go to court and play their fixed game at all. If someone tries to use a Court Order against you, make sure it is SIGNED by a JUDGE or it is INVALID. Most Court Order's aren't actually signed, and officials use unsigned Court Order's as a confidence trick to gain your consent!</span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">There is no silver bullet. There is no lazy way to learn about your rights. You must Research and do your homework to REALLY learn what you are doing. Ignorantly walking into court is like playing carelessly with a loaded handgun." </span></span><br />
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<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">You are not a PERSON. You are a Living Soul of Flesh and Blood. A PERSON has Privileges that can be Revoked while a Living Human has Rights that are Inalienable!</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">Knowing THAT, is the first step to stopping the War Against Consciousness.</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Cambria; font-size: small;"><span style="color: black; font-family: Cambria; font-size: 12pt;">------</span></span><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt;">Paul Verge has written and performed for <a href="http://thinkfree.ca/" title="http://thinkfree.ca/">http://ThinkFree.ca</a>, <a href="http://tragedyandhope.com/" title="http://tragedyandhope.com/">http://TragedyAndHope.com</a>, and <a href="http://peacerevolution.org/" title="http://peacerevolution.org/">http://PeaceRevolution.org</a> while labouring as a Filmmaker in Vancouver, Canada. His company, Divergentfilms has produced Paul's documentary films, "Hijacking Humanity", and the brand new "Believers Beware", which both feature Henry Makow, Ph.D.<o:p></o:p></span></span></div><div class="zemanta-pixie" style="height: 15px; margin-top: 10px;"><a class="zemanta-pixie-a" href="http://reblog.zemanta.com/zemified/28ff8ce9-fccb-45f1-8dbc-12b614e6c048/" title="Reblog this post [with Zemanta]"><img alt="Reblog this post [with Zemanta]" class="zemanta-pixie-img" src="http://img.zemanta.com/reblog_e.png?x-id=28ff8ce9-fccb-45f1-8dbc-12b614e6c048" style="border: medium none; float: right;" /></a><span class="zem-script more-related pretty-attribution"><script defer="defer" src="http://static.zemanta.com/readside/loader.js" type="text/javascript">
</script></span></div><div class="blogger-post-footer">Also Visit: www.TheForeclosureDetonator.org
www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com3tag:blogger.com,1999:blog-4500262105442376419.post-25567560411806227382010-02-12T15:09:00.002-05:002010-02-20T17:50:53.767-05:00Why Banks Are Not Modifying Loans This is a good explanation as to why banks are not modifying loans. The basic reason, as I have pointed out many times in the past is that it is more profitable to foreclose and/or Short Sale then it is to modify. In other words, displace millions of American homeowners for personal gain and profit by banksters with the help and encouragement of our Federal Government.<br />
<br />
"What a country"!!!<br />
<br />
Watch the short video and you will actually see the math.<br />
<br />
<div style="text-align: center;"><a href="http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1540466"><span style="font-size: small;"><b>click here for video</b></span>...Video Marketing and Mortgage News Designed for Mortgage and Real Estate Sales</a></div><br />
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www.goldmansachs666.com
www.JPMorgan666.com</div>Larry Rubinoffhttp://www.blogger.com/profile/00994883281506478553noreply@blogger.com2