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This is part of my extended family. Joshua and Nairobi Harper Taylor are grandchildren, with high-tech minds and new millenium potential. Their accomplishments are mounting, and their exploits foretold and reviewed.

  
     
 

They're too lenient, too nice: The author says the

"bank"....it should read...."All Banks...all lenders "The

Fraudulent criminals": Look at what they're doing

with the help of their federal pocket handkerchiefs:

Things have spiraled out of control. We may as well

be back in the prohibition era; or, maybe the ole

west because our legislators, investors,

and mortgage poker players are paying for rustled cattle: mortgage-backed

securities!

 

To Fans of the Warriors: How much is too much.

Why would you continue supporting a franchise

that makes a profit from being a losing team.

Only one championship in nearly 40 years, and

about three winning seasons since that time.

If I were you, I'd never go to another game.

Time to boycott! Or will you let Joe Lacob punish

you for five years for booing him.

And by the way, don't expect the arena to be built

on schedule....if at all. Boycott! Sports Writers, talk 

show hosts and columnists don't have a clue! They

are counting the eggs before the chickens hatch

them. Won't be nearly so easy boys, especially if

the Warriors try building on the waterfront. 

If Oracle's owner couldn't get it done, how is Lacob

and company, who haven't even owned the team

for one year, and already trying to move. Taking the

fans totally for granted. Are you that stupid to allow

this! We'll see.  

 

Think of it as one big sports competition, whether

football, basketball, baseball, or  hockey. There's

always the bomb, the three-pointer, or the grand

slam.

The Regulators set the table, and the Mortgage

Frauds are the Cleanup hitters!


The Department of Housing and Urban Development, the Internal Revenue

Service, The Securities Exchange Commission, and the Office of the Controller

of the Currency set the table. The Mortgage Companies, be they servicers,

lenders, investors or bankers, clean the money bases. They all get a share, and

we get the bill. I'm not the one who's documenting this; it's the very regulatory

agencies of which I speak, codifying and evidencing the fact that they're

looking left while frauds turn right and screw all of us who aren't looking where

they're going. That's about a nation full of home-owners, convinced that the

people who say they own the borrower's property, actually does.

They're the ones who walk away from their homes, or get some milk and

cookies attorney who eat up their savings in fees, with some even making

their beleaguered clients get a loan to pay for suing to stop a foreclosure. 

Take a look around. You'll notice that the courts and the regulators are acting

as matadors after setting the table for these frauds by permitting them, against

the tax code and many others, to not report income earned from excessive

fees and refinanced mortgage loans. This practice has been ongoing for years.

On this and other pages, witness the affidavits, the articles, civil complaints,

filings, and other documents evidencing the fact that fraud is occurring by the

minute, and the ones who are supposed to be minding the store, are giving

away every-thing, even the kitchen sink. Then they stick you and I with the bill.

Well, no more, not here.....not we.....not I.

These guys all need to be charged with crimes for fashioning an unlawful

consent decree that uses pension benefit money of private and public

employees to pay off the forged cost of mystery mortgag loans which have no

financial backing.

If you doubt a single word of what I say..read on. You won't doubt long, or are

you that stupid?

 

 


The do-do is about to hit the fan! I asked for a class

action, and although it is  not exactly what I

wanted, it's close for now: You may not get your

home back, but if you're smart, energetic and

game, the sky is the limit!

Home Owners Across the Nation Sue All Bank Servicers and Their Offshore

Havens; Spire Law Officially Announces Filing of Landmark Lawsuit LARGEST

INTERNATIONAL MONEY LAUNDERING NETWORK IN HISTORY FORMED DURING

OBAMA ADMINISTRATION; U.S. BANKS' THEFT OF HOME OWNERS' MONEY

LAUNDERED THROUGH CAYMAN ISLANDS, ISLE OF MAN AND NUMEROUS

OFFSHORE-BASED AFFILIATES.

Far from being ambiguous, this is a complaint that “names.” Indeed, the lawsuit identifies

specific companies and the offshore countries used in this enormous money laundering

scheme. Federally Chartered Banks’ theft of money and their utilization of offshore tax haven

subsidiaries represent potential FDIC violations, violations of New York law, and countless other

legal wrongdoings under state and federal law".

 

If you don't know by now, that your government is run by derelicts, crooks, and transplanted

frauds, then you may never know.

Those who filed this class action know, and so do elected officials:

“The laundering of trillions of dollars of U.S. taxpayer money — and the wrongful taking of the

homes of those taxpayers — was known by the Administration and expressly supported by it.

Evidence uncovered by the plaintiffs revealed that the Administration ignored its own

agencies’ reports — and reports from the Department of Homeland Security — about this

situation, dating as far back as 2010.

Worse, the Administration purported to endorse a ‘national bank settlement’

without disclosing or having any public discourse whatsoever about the thousands of foreign

tax havens now wholly owned by our nation’s banks. Fortunately, no home owner is bound to

enter into this fraudulent bank settlement,” stated Eric J. Wittenberg of Columbus, Ohio — a

noted trial lawyer, author and student of US history — on behalf of plaintiffs in the case.

The suing home owners reveal how deeply they were defrauded by bank and governmental

corruption — and are suing for conversion, larceny, fraud, and for violations of other provisions

of New York state law committed by these financial institutions and their offshore counterparts.

This lawsuit explains why loans were, in general, rarely modified after 2009.

It explains why the entire bank crisis worsened, crippling the economy of the United States and

stripping countless home owners of their piece of the American dream. It is indeed a fact that

the Administration has spent far more money stopping bank investigations, than they have

investigating them. When the Administration’s agencies (like the FDIC) blew the whistle, their

reports were ignored.

The case is styled Abeel v. Bank of America, etc., et al. — and includes such entities as ML

Banderia Cayman BRL Inc., ML Whitby Luxembourg S.A.R.L. and J.P Morgan Asset

Management Luxembourg S.A. — as well as hundreds of other obscure offshore entities

somehow “owned” by federally chartered banks and formed “under the nose” of the

Administration and the FDIC.

Commenting further on the case, Mr. Wittenberg stated: “As if it is not bad enough that banks

collect money and do not credit it to homeowners’ accounts, and as if it is not bad enough

that those banks then foreclose when they know they do not have a legally enforceable

interest in the realty, we now learn that they have been operating under unbridled free

reign given by the Administration and some states’ Attorneys General in formulating this

international money laundering network.

Now that the light of day has been shined on it, I believe we can all rest assured that the 

beginning of the end of the bank crisis has arrived.” All United States home owners may have

the right to bring a lawsuit of this kind if they paid money to a national bank servicer

during the years 2003 through 2009.

The fraud masters are at work. They have been for years. Now, with the help of the SEC and

other regulatory agencies,

these mortgage companies are broadening their tax evasion shelters and havens.

In the Cayman Islands is where Ocwen Loan Servicing will be playing it's latest game of tax

and income dodging. First, they have to protest each other against the fact that fraud is

rampant, and it's going to catch up with them

Home Loan Servicing Solutions to the SEC:

"We could have conflicts of interest with Ocwen, and our officers and directors also could

have conflicts of interest due to their relationships with us and Ocwen, that could be resolved

in a manner adverse to us.

We have entered into various agreements with subsidiaries of Ocwen in connection with the

Offerings and the Initial Acquisition, and we intend to enter into further agreements with

Ocwen or its subsidiaries in the future. Certain of our executive officers and directors may have

conflicts of interest with respect to such agreements and other matters due to their past and/or

current relationships with Ocwen.

William C. Erbey, the Chairman of our Board of Directors, is, and for the foreseeable future is

expected to be, the Chairman of the Board of Directors of Ocwen. As a result, he has

obligations to us as well as to Ocwen and may have conflicts of interest with respect to matters

potentially or actually involving or affecting us and Ocwen. Mr. Erbey is the beneficial owner of

approximately 14.7% of Ocwen’s common stock as of December 31, 2011. John P. Van Vlack,

who will be our President and is one of our directors, owns 27,500 shares of Ocwen common

stock, James E. Lauter, who will be our Chief Financial Officer, owns 5,000 shares of Ocwen

common stock, and Richard Delgado, who will be our Treasurer, owns 24,582 shares of Ocwen

common stock.

In addition, in connection with their resignation from their positions at Ocwen, the Ocwen

Board of Directors intends to extend the post-termination exercise period of options topurchase

625,000 shares of Ocwen common stock held by Mr. Van Vlack, 90,197 shares of Ocwen

common stock held by Mr. Delgado and 20,000 shares of Ocwen common stock held by

Michael J. McElroy, who will be our General Counsel, so that the options may be exercised

during the original term of the option, subject to any existing vesting schedules of those

options.

The options would otherwise have expired following the date of such officers’ resignation from

Ocwen.

This ownership of Ocwen common stock and options to purchase Ocwen common stock

could create or appear to create potential conflicts of interest when our Board of Directors or

our executive officers are faced with decisions that involve Ocwen.

 Read more: file:///Users/mary/Downloads/HOME%20LOAN%20SERVICING%20SOLUTIONS,

%20LTD.%20-%20 FORM%20S-1%20A%20-%20February%2010,%202012.html#b#ixzz1ve9mQZua

Let's not forget that one of the top boardmembers of Ocwen, also is under the umbrella of

Cayman Islands Home Loan Servicing Solution, Ltd. That will spell conflict of interest and they

know it:

"We could have conflicts of interest with Ocwen, and our officers and directors also could

have conflicts of interest due to their relationships with us and Ocwen, that could be resolved

in a manner adverse to us.

We have entered into various agreements with subsidiaries of Ocwen in connection with the

Offerings and the Initial Acquisition, and we intend to enter into further agreements with

Ocwen or its subsidiaries in the future. Certain of our executive officers and directors may have

conflicts of interest with respect to such agreements and other matters due to their past and/or

current relationships with Ocwen. William C. Erbey, the Chairman of our Board of Directors, is,

and for the foreseeable future is expected to be, the Chairman of the Board of Directors of

Ocwen. As a result, he has obligations to us as well as to Ocwen and may have conflicts of

interest with respect to matters potentially or actually involving or affecting us and Ocwen.

Mr. Erbey is the beneficial owner of approximately 14.7% of Ocwen’s common

stock as of December 31, 2011. John P. Van Vlack, who will be our President and is one of our

directors, owns 27,500 shares of Ocwen common stock, James E. Lauter, who will be our Chief

Financial Officer, owns 5,000 shares of Ocwen common stock, and Richard Delgado, who will

be our Treasurer, owns 24,582 shares of Ocwen common stock.

In addition, in connection with their resignation from their positions at Ocwen, the Ocwen

Board of Directors intends to extend the post-termination exercise period of options to

purchase 625,000 shares of Ocwen common stock held by Mr. Van Vlack, 90,197 shares of

Ocwen common stock held by Mr. Delgado and 20,000 shares of Ocwen common stock held

by Michael J. McElroy, who will be our General Counsel, so that the options may be exercised

during the original term of the option, subject to any existing vesting schedules of those options.

The options would otherwise have expired following the date of such officers’ resignation from

Ocwen. This ownership ofOcwen common stock and options.

And here's how they plan to avoid paying taxes

We expect that we will be treated as a PFIC for U.S. federal income tax purposes. In order to

avoid possible adverse tax consequences, including deferred tax and interest charges under

the U.S. Internal Revenue Code and Treasury regulations thereunder, “U.S. Holders” (as defined

below under “Material Cayman Islands and United States Federal Income Tax Considerations—

United States Federal Income Taxation”) may make a “qualified electing fund,” or QEF,

election or a mark-to-market election with respect to their investments in our ordinary shares.

U.S. Holders should consult with their tax advisors as to whether or not to make such elections

and the related consequences and should carefully review the information set forth under

“Material Cayman Islands and United States Federal Income Tax Considerations—United States

Federal Income Taxation—Consequences to U.S. Holders—Passive Foreign Investment

Company Status and Related Tax Consequences” for additional information. Read more:

file:///Users/mary/Downloads/HOME%20LOAN%20SERVICING%20SOLUTIONS,%20LTD.%20-%20

FORM%20S-1%20A%20-%20February%2010,%202012.html#b#ixzz1ve911xSP

 

 

 

 

 

 

 

 

 

Broken Government 

 

 

 

 

 

 

Daily Bail Debt & Deficits. Bailout News. Federal

Reserve Corruption.

An assessment of 128 executive branch failures since 2000

Controversial Assertion of Executive Power Controversial Assertion of Executive Power: Image

The Executive Office of the President and the Bush administration in general have drawn

widespread criticism for their push toward a “unitary executive,” a presidency with vastly

increased power to interpret and implement the law.

The administration’s decision to authorize warrantless wiretapping, its use of signing statements

to pick and choose which portions of legislation to execute, its push for unrestricted detention

of suspects in the war on terror, and its broad and aggressive assertion of executive privilege all

drew bipartisan criticism. Some view the changes as a positive reassertion of executive power

that was lost in the aftermath of the Watergate scandal — indeed, as far back as the dawn of

the Reagan administration, current Vice President Dick Cheney had pushed incoming Reagan

White House Chief of Staff James Baker to “restore power” and authority to the executive

branch. Cheney and other adherents of the unitary executive believe that a powerful

executive branch is especially important during time of war. Others view it as a dangerous

power grab by a president unwilling to be held accountable by the judicial or legislative

branches.

Either way, with its opposition to both judicial review of its decisions (regarding handling of

detainees, for example) and assertions of authority over Congress (as seen through its signing

statements and refusal to respond to congressional subpoenas), the Bush administration has pushed executive power to a level unseen for many years.

The White House press office did not respond to a request for comment, but in 2006, President

Bush defended his decision-making role, noting, “I'm the decider, and I decide what's best.”

Follow-up: Despite congressional and judicial attempts to reign in the unitary executive, the

Bush White House has continued to assert its power over Congress and the judiciary.

Some have argued that congressional additions to the administration’s original concept of the

financial bailout represented an effort to push back against the unitary executive. And many

expect Congress will aggressively move to reassert its authority in the early days of an Obama

administration. Photo credit: White House Previous Failure: Shaky Start for Troubled Asset

Relief Program

Hank Paulson Is A Criminal - Pass It On

 

 

The Hammer Gets Hit By A Tree

 

 

 

Don't look at me, I didn't say it, but somebody

needed to...and they have said it:

The Economic Rape of America - Chapter Seven

THE PLUNDERING, BLUNDERING, MURDERING IRS

Should you not know justice? - you who hate the good and love the evil, who tear the skin off

my people, and the flesh off their bones; who eat the flesh of my people, flay their skin off

them, break their bones in pieces, and chop them up like meat in a kettle, like flesh in a

caldron. -- Micah 3, verses 1-3.

"Man, biologically considered... is the most formidable of all the beasts of prey, and indeed

the only one that preys systematically on his own species. -- William James

"The story of the Internal Revenue Service is a history of a tax collection agency drunk with

power, ruthlessly smashing dissent among its own personnel and brazenly roughing up

taxpayers at will.

The IRS defies and intimidates its Congressional creators to go virtually unchallenged in its

blatant illegal exercise of awesome powers against the American public... The violations of t

he rights of American people today by their own government are ironically parallel to the

injustices suffered by the Colonists in the years preceding the Revolutionary War.

The Declaration of Independence states that the British King "has erected a multitude of new

offices, and sent hither swarms of officers to harass our people, and eat [out] their substance."

-- Congressman George Hansen, 1980 CAVEAT EMPTOR The income tax is dead.

If you are suffering from a jeopardy assessment, or a lien, or a midnight raid, or some other

Internal Revenue Service outrage as you read this, you may well find that hard to believe; but,

it's true.

Indeed, we believe that the present outrages are symptoms of the system's demise.

It's dead, but, like the dinosaurs, it has a pea brain and a primitive nervous system, which is

taking too long to send the message.

It's dead, but doesn't know it; and its death throes make it more dangerous than when it was

alive." -- Alan Stang, 1988 Nothing in this chapter is to be construed as legal or tax advice.

In particular, nothing in this chapter is to

be construed as an inducement to not file tax returns, or to not pay federal income taxes.

Anyone who crosses the IRS may suffer horrible consequences, as in the tragic case of Robert

William Smiley, as recounted in Tax Revolt: The Battle for the Constitution by Martin A. Larson.

On March 4, 1976, Clyde H. Allisan and Ralph W. Foster, two IRS agents, paid Smiley a "friendly

visit" in the truck-camper he used as a business office in Salem, Virginia. Ten minutes later

Robert Smiley was dead from a bullet wound in the head. The IRS men had departed.

Behind Smiley's corpse there was a bullet mark in the wall - but the bullet was never found.

At the other end of the camper a gun with no fingerprints was found. $2,000, which Smiley had

in his pockets, was gone. Local police reported the death as a suicide.

No autopsy was performed. The IRS agents were neither interviewed nor interrogated.

No hearing was held.

The only IRS official permitted to discuss the matter said that he knew nothing about the

incident. Smiley's close friends declared that the suicide theory was contrary to the known facts

and at variance with Smiley's jovial and good-natured character. A week later five IRS agents

seized all the vehicles comprising Smiley's business inventory and sold them.

The Treasury Department refused to answer any questions on the matter.

They also refused that IRS agents Allisan and Foster, who were with Smiley when he died, be

interviewed. Meanwhile, IRS agents continued to harass Smiley's broken-hearted, destitute,

ill widow to the point that she attempted suicide on October 23, 1976.

The Spotlight (Washington) was the only publication to cover the Smiley tragedy - in their May

24, June, 14, August 9, November 8 and 15, 1976, and May 30, 1977 issues. No mention

appeared in the local media.

OTHER IRS ATROCITIES

Government Regulatory Agencies are plagued by bad officialdom, horrific

eggs, rotten apples, and they're beyond stink.

Now...the scent has become rancid, putrid, just plain ole pukey.

The critics are lining up, and they're all saying much the

same:

"So here’s what’s going down. The bank regulators are going to provide cover for the banks

by pretending to discipline them very hard, but not really doing anything.

The public will see a stern C&D order, but there won’t be any action beyond that.

It’s as if the regulators are saying so all the neighbors can hear, “Banky, you’ve been a bad

boy! Come inside the house right now because I’m going to give you a spanking!” And then

once the door to the house closes, the instead of a spanking, there’s a snuggle.

But the neighbors are none the wiser. The result will be to make it look like the real cops

(the AGs and CFPB) are engaged in an overzealous vendetta if they pursue further action.

 

 

 

 

Trayvon Martin was not armed, but his assailant was undisciplined:

Now, he's dead, much like the chances of passive  foreclosure

victims ever fully being compensated

 

 

 

 

Are you better off now than you were 12 years ago? Eight, four? The news is....

no matter for whom you cast your ballot, the choice is a joke?

Con artists are running the white house, the courts, the

political parties....the system. You...are a lamb to frauds, thieves and lobbyists

Fannie Mae Whistleblower: “HAMP was About the

Numbers & Appeasing the Banks

"News flash: it was never about the American taxpayer or homeowner. The lies

are so bold-faced these days it’s shocking.

They literally couch the entire TARP bailout and HAMP program as

protecting Americans and our “way of life” and then in the same breath

implement programs that do the exact opposite and protect the antithesis of

the “American citizen.”

This is a must see video to learn about how wickedly deceptive the loan servicing industry is

and what a sham the Obama administration has perpetrated on the American people with all

the do-good messages about the HAMP program.

file:///Users/mary/Downloads/War%20on%20the%20Home%20Front%20%20%20Mortgage%20L

oan%20Investigations%20%20%20Securitization%20Audits%20%20%20Foreclosure%20Expert

%20Witness%20Services.html

 

You’re no fooll…You couldn’t be that stupid….could you? I was….

not anymore.

I have labored under the belief for years that attorneys will help me resolve my tax dispute with the Internal Revenue

Service.

I am led to believe that if you file a valid return for a refund, the agency will process your

claim and issue a refund.

Not likely, unless you’re a fraudulent mortgage lender or pension fund rogue.

And all that lawyer talk about fighting for you; that simply means he or she will do all they cano limit their seizure  just to your assets. The questionaires I had tocomplete were endless. They got more than three grand of my money and had me do all the work. Then

they tried to force me into admitting that I had hidden income.

Attorneys? Hah, a firm of snitches for the IRS. I got nothing for my money 

until Wendell Harper decided to represent himself. That worked, and it's still working. 

The ads and my predicament led me to be convinced that I could avoid foreclosure by filing

bankruptcy.

What I didn’t realize is that the attorneys on both sides of the isle are like twins. They are not in

support of your situation; they’re interested only in how much in assets you have and how

soon they can get your property and your assets.

I have been traditionally convinced that the Internal Revenue Service assessed all taxpayers

equally and fairly, but that is the biggest bunch of crock I have ever been fed .

Have you been reading the articles, blogs, civil complaints, class actions and rulings on the

internet about pension and mortgage lender fraud. It’s gotten so bad that bloggers and

authors are splitting hairs; dividing mortgage fraud into segments, such as lender fraud,

servicer fraud and broker fraud.

 

"Loan flipping: Loan flipping refers to the practice of constantly refinancing a mortgage, often

times when it is unnecessary, or offers little to no benefit. A broker, bank, or loan officer may

encourage a homeowner to refinance their loan simply to collect the associated fees and

commission, saddling the homeowner with more and more unneeded debt.

Loan packing: Loan packing is the act of adding overages and other unnecessary or high

closing costs to your loan.

It’s similar to getting your car worked on by a mechanic and getting hit with a ton of random

charges that make little sense.

Basically a broker or lender will add fees or encourage you to buy into programs that aren’t

necessary, and simply make your loan more expensive. Mortgage Servicing Scams: After

closing your loan you may be told you owe certain fees, or end up with different terms than

those you agreed upon. Mortgage servicing scams usually involve the lender who will

discourage homeowners to refinance with a different lender, or simply tell them they aren’t

able to do so.

The borrower will feel trapped with a certain bank or lender thanks to these conniving plans.

Loan Modification Scams:

Ever since loan modification progams became widespread, scammers have surfaced, looking

to take advantage of already debt-stricken homeowners.

These types of scams usually require that homeowners provide an upfront fee in order to get a

loan modification.

Many of these may be unnecessary, as homeowners are able to receive comparable 

assistance free of charge via housing counseling agencies and similar outfits.

Equity stripping:

Equity stripping is

another mortgage scam where a bank or lender will encourage a homeowner to take

cash-out of their home time after time until most of the equity in their home is stripped away.

And once the homeowner is stuck with a huge mortgage they can’t afford, they may

foreclose and give their house up to the bank.

These practices can easily fall under the categories of mortgage fraud or mortgage scams.

While they may be legal in some cases, they are usually done in bad faith and for the

monetary reward only.

The job of any bank, lender, broker, or salesperson is to assist a homeowner or potential

homeowner, and do so with honesty and in good faith, as outlined in Real Estate Law.

The sad thing is that major corporations are setting a bad example for anyone who sets out to

work for or with them".

http://www.thetruthaboutmortgage.com/mortgage-fraud-and-mortgage-scams

 

Not enough to label fraud what it is, you’ve got to pin the right fraud charge on the appropriate donkey.

In order to prove fraud, we have to knock down all the bowling pins with a square bowling “ball”.

The Internal Revenue Service is soft on fraudulent mortgage criminals, by example of the US Treasury Department,

even though they’ve called out mortgagees on the issue of mortgage fraud, and promised to prosecuted and sue to the

fullest extent of the law.

The problem is that President Barack Obama is one of the biggest con artists. He’s trying to sell us a smelly settlement

that squeezes a few billion from those who are stealing trillions. If you visit any page of this website, from first to last,

you will be privy to videos, articles, interviews, links, and blogs that document fraud on both the part of Government

Agencies and Mortgage Companies..

Tis Bad....homeowners.......tis very bad!! Don't

Watch.... Please don't. You might get pissed!

The wheels of fraud are coming off, and the kings

subjects are starting to defect:

OCWEN and its President, Ronald M. Faris, Called Out

as Two-Faced - Short Sale Help!

 

 


Government Officials and Mortgage

Companies are bound to convince us:

"Fraud is Legal". Don't you be conned

The loan origination market is a minefield for borrowers,

to be sure, but they do have choices.

Exercising intelligence and care, and with a little

homework, they can find a loan provider who will treat

them fairly.

When the loan is closed and shifted to a servicing agent,

however, the borrower’s choices disappear.

Borrowers have no say whatever in choosing the firm

that will be servicing their loan.

They cannot fire that firm for cause, no matter how

wretched the firm’s service.

The only way they can extricate themselves from a

predatory servicer is to refinance, which is costly, with

no assurance that the next servicer will be better.

In fact, they can end up with the same servicer!........

 

This Time, greedy gut lenders and

regulators, we didn't forget the

Grrraaaaaavy!

(scroll down to the video of this picture)

Banks rewarded heavily by the US

Government and the Barack Obama Administration for Wholesale,

Criminal Fraud. While the government and the

private sector steal our homes, the banks are

handsomely paid off for their "hit man" actions:

Banks and Investment Companies: Banksters or Gangsters?

Gangsters posing as Banksters

 

Bank of America: Too Crooked To Fail!

By Matt Taibbi March 14, 2012 10:55 AM ET bank of america Illustration by

Victor Juhasz At least Bank of America got its name right. The ultimate Too Big

to Fail bank really is America, a hypergluttonous ward of the state whose

limitless fraud and criminal conspiracies we'll all be paying for until the end of

time. Did you hear about the plot to rig global interest rates? The $137 million

fine for bilking needy schools and cities? The ingenious plan to suck multiple

fees out of the unemployment checks of jobless workers? Take your eyes off

them for 10 seconds and guaranteed, they'll be into some shit again:

This bank is like the world's worst-behaved teenager, taking your car and

running over kittens and fire hydrants on the way to Vegas for the weekend,

maxing out your credit cards in the three days you spend at your aunt's funeral.

They're out of control, yet they'll never do time or go out of business, because

the government remains creepily committed to their survival, like overindulgent

parents who refuse to believe their 40-year-old live-at-home son could possibly

be responsible for those dead hookers in the backyard. It's been four years since

the government, in the name of preventing a depression, saved this megabank

from ruin by pumping $45 billion of taxpayer money into its arm.

Since then, the Obama administration has looked the other way as the bank

committed an astonishing variety of crimes – some elaborate and brilliant in their

conception, some so crude that they'd be beneath your average street thug.

Bank of America has systematically ripped off almost everyone with whom it has

a significant business relationship, cheating investors, insurers, depositors,

homeowners, shareholders, pensioners and taxpayers. 

It brought tens of thousands of Americans to foreclosure court using bogus, "robo-signed"

evidence – a type of mass perjury that it helped pioneer. It hawked worthless

mortgages to dozens of unions and state pension funds, draining them of

hundreds of millions in value. And when it wasn't ripping off workers and

pensioners, it was helping to push insurance giants like AMBAC into bankruptcy

by fraudulently inducing them to spend hundreds of millions insuring those

same worthless mortgages.

But despite being the very definition of an unaccountable corporate villain, Bank

of America is now bigger and more dangerous than ever. It controls more than

12 percent of America's bank deposits (skirting a federal law designed to prohibit

any firm from controlling more than 10 percent), as well as 17 percent of all

American home mortgages.

By looking the other way and rewarding the bank's bad behavior with a massive

government bailout, we actually allowed a huge financial company to not just

grow so big that its collapse would imperil the whole economy, but to get away

with any and all crimes it might commit. Too Big to Fail is one thing; it's also far

too corrupt to survive.

All the government bailouts succeeded in doing was to make the bank even more

prone to catastrophic failure – and now that catastrophe might finally be at hand.

Bank of America's share price has plunged into the single digits, and the bank

faces battles in courtrooms all over America to avoid paying back the hundreds

of billions it stole from everyone in sight. Its credit rating, already downgraded

to a few rungs above junk status, could plummet with the next bad analyst

report, causing a frenzied rush to the exits by creditors, investors and

stockholders – an institutional run on the bank. They're in deep trouble, but they

won't die, because our current president, like the last one, apparently believes

it's better to project a false image of financial soundness than to allow one of

our oligarchic banks to collapse under the weight of its own corruption.

Last year, the Federal Reserve allowed Bank of America to move a huge portfolio

of dangerous bets into a side of the company that happens to be FDIC-insured,

putting all of us on the hook for as much as $55 trillion in irresponsible gambles.

Then, in February, the Justice Department's so-called foreclosure settlement,

which will supposedly provide $26 billion in relief for ripped-off homeowners,

actually rewarded the bank with a legal waiver that will allow it to escape untold

billions in lawsuits.

 

 

And this month the Fed will release the results of its annual

stress test, in which the bank will once again be permitted to perpetuate its

fiction of solvency by grossly overrating the mountains of toxic loans on its books.

At this point, the rescue effort is so sweeping and elaborate that it goes far

beyond simply gouging the tax dollars of millions of struggling families, many of

whom have already been ripped off by the bank-it's making the government, and

by extension all of us, full-blown accomplices to the fraud.

Read more: http://www.rollingstone.com/politics/news/bank-of-

america-too-crooked-to-fail-20120314#ixzz1scdNlbxf

QUEENS SMALL BUSINESS OWNER TO WELLS FARGO: “INVEST IN

SMALL BUSINESSES, NOT PRIVATE PRISONS!

No more superlatives. No further hyperbole.

We should start pinning the wrap of fraud on the major

indiviual players. Not Just Bank Top Executives, but Top

Government Officials, including the last five presidents!

Starting with this Gangster

 

Jimmy Carter is not one of the last five...the photographer goofed! Or lied!

The NYFed (Finally) Turns on the Bank Frauds: Bank of America’s

Foreclosuregate In a surprising turn of events, the NYFed—no less—has

gone after the Bank of America for its fraudulent mortgage business. Yes, the

former home to Treasury Secretary Geithner–the best friend Wall Street has

ever had–is now acting like the lapdog that bites the hand that feeds.

BofA has reacted as expected, trying to slap the little pipsqueak pet back

into submission, announcing an end to its moratorium on foreclosure fraud

and threatening to unleash its dark army of lawyers who are ready to do

battle in the courts to maintain the myth that the junk banks securitized met

required underwriting standards. It is of course all high drama worthy of a

mid-afternoon soap opera, with the Fed proclaiming dismay, nay, shock!,

that banks sold it toxic waste.

The over-acting would be hilarious if this were not such a serious issue.

In truth, it is all fraud, from start to end—from origination of the mortgages

through the securitization, on to the duping of investors, and to the

foreclosing on (mostly) innocent bystanding homeowners. The FBI warned of

an epidemic of mortgage fraud in 2004, investigations demonstrate that 80%

of the fraud is at the hands of lenders, and the fraud was no secret within

the industry and within government long before the NYFed, USFed, and

Treasury started bailing out the control fraud banks by purchasing their

assets, guaranteeing their liabilities, lending against toxic waste, and buying

their worthless equities—putting Uncle Sam on the hook in an amount

estimated to total more than $20 trillion. Meanwhile, the bank frauds have

been kicking Americans out of their homes, manufacturing fake documents,

and re-selling property to which they have no legitimate title".

The mortgage fraud by banks and

affiliates keeps on rolling, snowballing, until we make

it come crashing down on the perpetrators: This from

ROBERT B. REICH Published:

May 27, 2011

“The failure to hold central figures accountable for their actions sets a

dangerous precedent,” the authors say. “A system where perpetrators of such

a crime are allowed to slip quietly from the scene is just plain wrong.”

True up to a point — but Morgenson and Rosner don’t show that any actual

crimes were committed. Their major characters surely exhibited outsize

ambition and greed, but these qualities are not exactly rare in modern

capitalism. Curiously absent from their book are some other prominent

people who have been suspected of perpetrating fraud, like Richard S. Fuld

Jr., who ran Lehman Brothers into the ground, and Joseph J. Cassano, the

former head of the financial products unit at A.I.G. The real problem, which

the authors only hint at, is that Washington and the financial sector have

become so tightly intertwined that public accountability has all but vanished.

The revolving door described in “Reckless Endangerment” is but one symptom.

The extraordinary wealth of America’s financial class also elicits boundless

cooperation from politicians who depend on it for campaign contributions and

from a fawning business press, as well as a stream of honors from

universities, prestigious charities and think tanks eager to reward their

generosity. In this symbiotic world, conflicts of interest are easily hidden,

appearances of conflicts taken for granted and abuses of public trust for

personal gain readily dismissed. All told, the nation appears to have learned

remarkably little from the near meltdown. Fannie and Freddie, now wards of

the state, currently back more than half of all new mortgages, and their

executives are still pocketing fortunes. Wall Street’s biggest banks are a

fifth larger than they were when they got into trouble, and the pay packages

of their top guns as generous. Although the rest of America has paid dearly,

we seem more recklessly endangered than ever.

Today, we have a fraud foreclosure processing machine called MERS, or

Mortgage Electronic Registration System, with more reviews from sources. 

“Throughout history, executioners have always worn masks,” the U.

professor writes in his article, Foreclosure, Subprime Mortgage Lending,

and the Mortgage Electronic Registration System . “In the American mortgage

lending industry, MERS has become the veiled man wielding the home

foreclosure ax.”

Author: The actions of Mortgage Lenders and Banks puts me in the mind of

the Looney Tunes cartoon, entitled, "This Time We didn't Forget the Gravy. It;s

all about unbridled greed, using your underlings as slaves.

This Time.....We didn't forget the gravy(mortgage lenders, government

greed) Gets you in the end. 

 

The Treasury Department is fully engaged in fraud: It's

officials buy homes lost to foreclosure, with taxpayer

dollars, and sells them to the highest bidder, who then

makes more off future suckers who will lose them again!

"Treasury Boasts $25 Billion Profit on Mortgage

Investments"

It was simply a case of buying low and selling high, according to the U.S.

Treasury Department. Back in the fall of 2008, when the markets were

gripped with fear that the economy was collapsing, the federal government

invested $225 billion in mortgage-backed securities -- those so-called "toxic

assets" the banks couldn't sell. The Treasury Department says those

purchases helped preserve access to mortgage credit during a period of

unprecedented market stress. But it wasn't just a case of taking one for the

team.

The Treasury Department said it turned out to be a pretty good

investment. The government says it has now sold all of those securities for

a net profit of $25 billion, a return of about 11 percent since 2008. Another

milestone “The successful sale of these securities marks another important

milestone in the wind down of the government’s emergency financial crisis

response efforts,” said Assistant Secretary for Financial Markets Mary Miller.

“This program helped support the housing market during a critical moment

for our nation’s economy and delivered a substantial profit for taxpayers.”

At the time of the purchase, many of those securities were thought to be

worthless, because they backed up subprime mortgages that had defaulted,

or were almost certain to default. However, there were plenty of good loans

mixed in as well. The problem was, no one knew which securities contained

good loans and which ones contained bad ones.

Greed leads to mortgage loan bleeds, as the government and the lender

feeds, and continue to demand gravy with the meat they've stolen.

This modus operandi soon will come home to roost! Check out this cartoon.

You'll get it.

 

...this time We didn't forget the gravy!

That's it: They all should go to jail: Some for 20 years to

life. If we believe what we're told, then why not the top

cops in the IRS, the Federal Reserve, DOJ et al.?

Fed Held Back as Evidence Mounted on Subprime

Loan Abuses

"Congress now is weighing whether the Fed should be fired. The Obama

administration has proposed shifting consumer protection duties away from

the Fed and other banking regulators and into a new watchdog agency.

Thatproposal, a central plank in the administration's plan to overhaul financial

regulation, is opposed by the industry and faces a battle on Capitol Hill".

 

Evidence Mounted on Subprime Loan Abuses The Fed may lose its consumer

protection duties to a proposed new agency. (By Brendan Smialowski --

Bloomberg News) 

Sunday, September 27, 2009 The visits had a ritual quality.

Three times a year, a coalition of Chicago community groups

met with the Federal Reserve and other banking regulators to warn about

the growing prevalence of abusive mortgage lending.

They began to present research in 1999 showing that large banking

companies including Wells Fargo and Citigroup had created subprime

businesses wholly focused on making loans at high interest rates, largely in

the black and Hispanic neighborhoods to the south and west of downtown

Chicago. The groups pleaded for regulators to act.

The evidence eventually led Illinois to file suit against Wells Fargo in July for discrimination

and other abuses. But during the years of the housing boom, the pleas failed to move

the Fed, the sole federal regulator with authority over the businesses. Under

a policy quietly formalized in 1998, the Fed refused to police lenders'

compliance with federal laws protecting borrowers, despite repeated urging

by consumer advocates across the country and even by other government

agencies. The hands-off policy, which the Fed reversed earlier this month,

created a double standard. Banks and their subprime affiliates made loans

under the same laws, but only the banks faced regular federal scrutiny.

Under the policy, the Fed did not even investigate consumer complaints

against the affiliates. "In the prime market, where we need supervision less,

we have lots of it.

In the subprime market, where we badly need supervision,

a majority of loans are made with very little supervision," former Fed

Governor Edward M. Gramlich, a critic of the hands-off policy, wrote in 2007.

"It is like a city with a murder law, but no cops on the beat." Between 2004

and 2007, bank affiliates made more than 1.1 million subprime loans, around

13 percent of the national total, federal data show.

Thousands ended in foreclosure, helping to spark the crisis and leaving borrowers and investors

to deal with the consequences. Congress now is weighing whether the Fed should be fired.

The Obama administration has proposed shifting consumer protection duties away from the Fed

and other banking regulators and into a new watchdog agency. That proposal, a central plank in the

administration's plan to overhaul financial regulation, is opposed by the industry and faces a

battle on Capitol Hill.

The Federal Reserve is best known as an economic shepherd, responsible for adjusting interest

rates to keep prices steady and unemployment low. But since its creation, the Fed has held a

second job as a banking regulator, one of four federal agencies responsible for keeping

banks healthy and protecting their customers. Congress also authorized the

Fed to write consumer protection rules enforced by all the agencies. During

the boom, however, the Fed left those powers largely unused. It imposed

few new constraints on mortgage lending and pulled back from enforcing

rules that did exist.

The Fraud Started At the Very Top: With Government Leaders

The government knew about mortgage fraud a long time ago. For example,

the FBI warned of an "epidemic" of mortgage fraud in 2004. However, the

FBI, DOJ and other government agencies then stood down and did nothing.

See this and this. For example, the Federal Reserve turned its cheek and

allowed massive fraud, and the SEC has repeatedly ignored accounting fraud. Indeed, Alan

Greenspan took the position that fraud could never happen Author/Host:  It is no wonder that the

Internal Revenue Service "Stands  Down" in the face of fraud, misrepresentation and defeat.

These guys switch from government to private industry, like a game of musical chairs. And...on

the drums is Treasury Secretary Timothy Geithner, who is pegged for engineering fraud and

standing idly by while it festered and swelled into home losses and massive foreclosures.

"The government's entire strategy now - as during the S&L crisis - is to

cover up how bad things are. But it is not only a matter of covering up fraud

that has already happened. The government also created an environment

which greatly encouraged fraud. Here are just a few of many potential

examples:

The government-sponsored rating agencies committed massive

fraud (and see this) The Treasury department allowed banks to "cook their

books" Business Week wrote on May 23, 2006: "President George W. Bush

has bestowed on his intelligence czar, John Negroponte, broad authority, in

the name of national security, to excuse publicly traded companies from their

usual accounting and securities-disclosure obligations."

Regulators knew of and allowed the use of debt-hiding accounting tricks by the big banks Tim

Geithner was complicit in Lehman's accounting fraud, (and see this), and pushed to pay AIG's CDS

counterparties at full value, and then to keep the deal secret. And as Robert Reich notes, Geithner

was "very much in the center of the action" regarding the secret bail out of Bear Stearns without

Congressional approval. William Black points out: "Mr. Geithner, as President of the Federal

Reserve Bank of New York since October 2003, was one of those senior regulators who failed to

take any effective regulatory action to prevent the crisis, but instead covered up its depth" The

former chief accountant for the SEC says that Bernanke and Paulson broke the law and

should be prosecuted Freddie and Fannie helped to create the epidemic of

mortgage fraud.

file:///Users/mary/Downloads/The%20Fraud%20Started%20At%20the%20Very%20Top%20%20With%20Government%20Leaders%20

 

 

 

                                                               Deutsche Bank CEO Josef Ackermann

 

 Ben Bernanke Federal Reserve Board Chair

 

                                                    Tim Geithner US Treasury

                                                      Secretary

Who's to Blame for the Mortgage Mess?

Banks, Not Homeowners

By Abigail Field

: Columns, Economy, Real Estate, Credit 2113 7111 Home foreclosure protest

As the foreclosure crisis has escalated over the past several months, one

overarching debate has been about who bears the most blame: homeowners

or banks? After everything I've learned and written about the foreclosure

mess, my verdict is: The banks are responsible for 90% of the problem,

troubled homeowners 10%........

The Name Fits....and so do the Misdeeds. Freddie Mac is part

of the pack. 

Freddie Mac, the taxpayer-owned mortgage giant, has placed multibillion-

dollar bets that pay off if homeowners stay trapped in expensive mortgages

with interest rates well above current rates. Freddie began increasing these

bets dramatically in late 2010, the same time that the company was making it

harder for homeowners to get out of such high-interest mortgages.

No evidence has emerged that these decisions were coordinated.

The company is a key gatekeeper for home loans but says its traders are

“walled off” from the officials who have restricted homeowners from taking

advantage of historically low interest rates by imposing higher fees and new

rules.

Freddie’s charter calls for the company to make home loans more accessible.

Its chief executive, Charles Haldeman Jr., recently told Congress that his

company is “helping financially strapped families reduce their mortgage costs

through refinancing their mortgages.” But the trades, uncovered for the first

time in an investigation by ProPublica and NPR, give Freddie a powerful

incentive to do the opposite, highlighting a conflict of interest at the heart of

the company.

In addition to being an instrument of government policy dedicated to making

home loans more accessible, Freddie also has giant investment portfolios

and could lose substantial amounts of money if too many borrowers refinance. “We were actually shocked they did this,”

says Scott Simon, who as the head of the giant bond fund PIMCO’s mortgage-backed securities team is one of the world’s biggest mortgage bond

traders. “It seemed so out of line with their mission.”

The trades “put them squarely against the homeowner,” he says......more

 

The Great Debate really isn't a Debate worth having! We know to whom the

blame lies....and it starts with an M

"Cop-Turned-Judge Challenges Banks to Clear Foreclosure Backlog"

Judge Israel Reyes is giving the biggest U.S. banks a choice:

Wrap up the hom  e foreclosure cases clogging his Miami court, or dismiss

them and walk away. Most are walking away, Bloomberg News' David

McLaughlin reports. "Listen, it's either settlement or trial today. That's

it," Reyes, 51, a former homicide detective, said two weeks ago to one lawyer

who sought an extension after the homeowner received a temporary loan

modification. "This case is over a year old." -- Reyes, a judge for Florida's

11th Judicial Circuit, is forcing banks to take their cases to trial to clear his

backlog of almost 3,000 foreclosures. Instead of moving ahead, the

companies are backing down. They're dismissing their own cases or not

showing up to trial because they're not prepared or, according to lawyers

for homeowners, they can't come up with the evidence required to seize the

properties.

-- Meanwhile, foreclosure activity across the U.S. is plummeting.

Default notices, scheduled auctions and bank repossessions affected about

261,000 properties in the U.S. in January, a 17 percent decrease from a year

earlier, according to RealtyTrac Inc. Lenders are "bogged down" reviewing

foreclosure procedures and grappling with accusations of improper home

seizures, RealtyTrac said in a Feb. 10 statement. -- Florida's foreclosure

rate-- the proportion of housing units in foreclosure or bank-owned --

dropped 54 percent from a year ago, according to Irvine, California-based

RealtyTrac, which collects foreclosure data. -- Foreclosures in Florida are

typically approved at the summary judgment stage, before trial. At trial, a

bank that's unprepared to prove its case risks losing. Banks can voluntarily

dismiss a case once and refile it. -- Generally, a second dismissal is final and

the case can't be refiled, preventing the lender from seizing the home,

according to a Florida attorney who defends homeowners in foreclosure

cases. -----------------------------------------------------

"Never give up on the fight to save your home" http://RightToCancel.com

Free-Helpline: (813) 448-2108

 

Plain and Simple: New York Mayor Michael Bloomberg is

out to Lunch!!!

Michael  Bloomberg: 'Plain and simple,' Congress caused the mortgage crisis, not the banks bloomberg-plain-and-simple-congress-caused-mortgage-crisis-not-bank

Why he blames Congress for the Mortgage fraud craze,

the banks and non banks are fleecing homeowners by the minute. This guy

either is totally ignorant or paid by the banks.

Bloomberg: 'Plain and simple,' Congress caused the mortgage crisis, not

the banks bloomberg-plain-and-simple-congress-caused-mortgage-crisis-

not-bank Michael Bloomberg. Photo via British Prime Minister's Office

flickrstream. Related stories Ed Koch: '

I love Wall Street', but some C.E.O. should go to jail Quinn tells business

leaders protesters shouldn't be ignored Occupy Wall

Street finds a friend in Justice Lucy Billings Bloomberg on the intolerability of

conditions 'at the site' By Azi Paybarah 11:03 am

Nov. 1, 201171Add a comment

Mayor Michael Bloomberg said this morning

that if there is anyone to blame for the mortgage crisis that led the collapse

of the financial industry, it's not the "big banks," but Congress.

Oh yeah? That's not what The Federal Trade Commssion's Representative

said: They told us who the culprits were 14 years ago.

“In January 1998, the Commission filed a complaint in the United States

District Court for the District of Columbia against Capital

City Mortgage Corporation, a Washington, DC-area mortgage lender, and its

owner, alleging numerous violations of a number of federal laws resulting in

serious injury to borrowers, including the loss of their homes.(46) The

company allegedly made home equity loans to minority, elderly, and low-

income borrowers at interest rates as high as 20-24 percent. Borrowers

often faced

foreclosure on their properties, after which the company would buy the

properties at auction for prices much lower than the appraised value of the

properties.

Politicians like Bloomberg always look for the easy target, the homeowner.

He's not willing to admit that these so-called lenders are frauds, perhaps

because he's in bed with them. 

Prepared Statement of the Federal Trade Commission by Jodie Bernstein,

Director Bureau of Consumer Protection before the SENATE SPECIAL

COMMITTEE ON AGING on Home Equity Lending Abuses in the Subprime

Mortgage Industry March 16, 1998 "Another practice that has recently

received attention is some subprime mortgage lenders engaging in "flipping,"

the practice of inducing (36) a consumer to refinance a loan, repeatedly,

often within a short time frame, charging high points and fees each time.

(37) This causes the borrower's debt to steadily increase. Although a 

consumer's debt may be on the rise anyway if she borrows money in

connection with the refinancing, in some cases, the amount of cash received

may be smaller than the additional costs and fees charged for the

refinancing.

While a consumer's option to refinance is an integral part of a functioning

mortgage market, subprime lenders engaged in "flipping" may misrepresent

to the borrower the terms and ultimate benefits of the transaction, or induce the borrower to take on more debt than she can handle. By taking advantage of its unequal relationship with a particularly vulnerable

consumer, an unscrupulous lender can compromise a borrower's ability to make an informed choice about financing options.

(38)"

http://www.outsidethebeltway.com/bloomberg-dont-blame-banks-for-mortgage-crisis/

In This Corner, The "Dream Act", in The opposite corner

......Free Citizenship Fair encourages US citizenship

(Oakland, CA) – US Citizenship is the ultimate goal for so many

immigrants, and yet many cannot afford the process.

The East Bay Naturalization Collaborative is working to remove some of the

most common barriers and offering a free citizenship fair to assist East Bay

residents interested in becoming US Citizens. The East Bay Naturalization

Collaborative, a partnership of several non-profits, is helping immigrants

understand the naturalization process through education and legal

assistance, and assiting them to apply for citizenship.

Among the local non-profits leading the charge

to increase the number of citizens are Asian Pacific Islander Legal Outreach,

Catholic Charities of the East Bay, Centro Legal de la Raza, East Bay

Sanctuary, International Institute of the Bay Area, and International Rescue

Committee. In California there are an estimated 800,000 Asian Pacific

Islanders who are potentially eligible to become citizens. According to

Doris Ng, Supervising Attorney at API Legal Outreach, “Many Asian Pacific

Islander immigrants who are eligible do not apply because they do not have

the application fee or they may not fully understand the benefits of being a

citizen. Some feel they need the help of a lawyer to complete the process

and do not have access to affordable legal help.” The Collaborative believes

that many low-income immigrants may qualify for a waiver of the application

fee, because the government has been increasingly generous in granting

fee waivers. Kyra Lilien, Immigration Attorney at Centro Legal de la Raza,

explains that there are many benefits to becoming a citizen in addition to

voting: “Only U.S. citizens can sponsor their parents and siblings, and

petitions for spouses and children are faster for U.S. citizens than for

permanent residents.”

A golden opportunity for low income and other immigrants..........or a trap? 

 

 

FOR IMMEDIATE RELEASE Doris Ng, API Legal Outreach

 

Will homeowners and protesters ever learn?

Thinking of getting a Reverse Mortgage? Better Think

Again. You're in for a fraud session!

Reverse Mortgage Scams: Reverse mortgages can be useful products, but

have been associated with deceptive practices and allegations of high-pressure sales tactics and the risk of being steered into inappropriate loans and annuities.

Types of Reverse Mortgages There are three types of reverse mortgages:

single-purpose reverse mortgages, offered by some state and local

government agencies and nonprofit organizations federally-insured reverse

mortgages, known as Home Equity Conversion Mortgages (HECMs) and

backed by the U. S. Departmentof Housing and Urban Development (HUD)

proprietary reverse mortgages, private loans that are backed by the 

companies that develop them Single-purpose reverse mortgages are the

least expensive option. They are not available everywhere and can be used

for only one purpose, which is specified by the government or nonprofit lender. For example, the

lender might say the loan may be used only to pay for home repairs,

improvements, or property taxes. Most homeowners with low or moderate

income can qualify for these loans.

HECMs and proprietary reverse mortgages may be more expensive than

traditional home loans, and the upfront costs can be high. That’s important to

consider, especially if you plan to stay in your home for just a short time or

borrow a small amount. HECM loans are widely available, have no income or

medical requirements, and can be used for any purpose.

 

Occupy Our Homes Calls for National Week of Bank

Protest Actions

In solidarity with families across the U.S. resisting foreclosures and

evictions, the Occupy Our Homes movement is announcing that March 12th-16th will be a National Week of Action to protest the criminal foreclosure practices of the nation's largest banks. The housing system built by Wall Street banks and for the 1% has utterly failed the

99%.

The banks' criminal foreclosure practices have costmillions of Americans

their homes already. Millions more homeowners are at risk of foreclosure in

the coming years.

And while hundreds of thousands families face homelessness, bank-owned

vacant homes fall into disrepair. Everyone deserves a home and Occupy Our

Homes will be standing with housing activists nationwide in their fight for

dignity and a place tocall home. It's time to take action. Along with Occupy

groups and community organizations across the country, the Occupy Our

Homes network will stage protests nationwide—including protests at various

bank headquarters and branches across the country—in a coordinated effort

to draw attention to the banks' immoral behavior. Each day of the week will

feature a target bank, anchored by different Occupy groups and their allies.

 

Here's why the "occupy our homes" protests won't work. Because the

protesters are too soft to make it work.

Here we are, showing articles, civil suits, rulings, decisions, and in some

cases, even criminal prosecution, that reveal the lack of proved ownership

by the banks, and we  read the words, 'bank-owned"!  Besides, we're talking

about more than banks; we're talking servicers, beneficiaries, brokers, and

in rare cases, government-backed mortgagees. Few of these frauds own

anything.

Many of the homes they claim to own, are not recorded as their property.

They claim to be the 'holders" of the note.  Most have been revealed as

frauds once the criminals are challenged. Yet, instead of challenging

ownership, these protesters are willing to wrongfully concede that the banks

own the homes instead of the homeowners, no matter what the mortgage history shows..

Until we come up with intelllgent, sophiscated sources enough to uncover the fraud in these transactions, we will forever be 

walking away from our homes when we don't have to walk away, and asking these corrupted court systems and judges to stop

rubber stamping foreclosures, defaults, auctions. 

Frankly, these frauds should be going to jail, some for life, because they've

cost taxpayers, homeowners, the disabled, the impoverished and the

working people trillions of dollars and counting. Until we get these

regulatory agencies out of bed with  this financial trash, and eliminate these

do-nothings altogether, the fraud won't stop!

          

 

First and foremost, it was we, Blacks in America, who were the wildebeest of  government and business targeting.

Now......the predator has branched out.......to the rest of you! What this abuse and ensuing humilation led to then, will raise

its tentacles to engulf these transgressors! Protesters may well become the terrorists of the "1 percent". 


 

The New Jim Crow........will gravitate to you..Black or not! It's coming!

Michelle Alexande

In an article addressing the status of contemporary African Americans,

Alexander said, "The clock has been turned back on racial progress in

America, though scarcely anyone seems to notice. All eyes are fixed on

people like Barack Obama and Oprah Winfrey who have defied the odds

and achieved great power, wealth and fame".[3] Alexander sees the

masses of ordinary African Americans as being relegated

to the status of a "racial caste", even though the official approach to

dealing with the minorities has been redesigned, to avoid explicit use of

racial attributes. According to Alexander, the forms of "racial control"

evolve as required by changing political circumstances and

contemporary standards, with the current "criminal justice" activities

replacing the Jim Crow laws, which in turn had replaced slavery.

Michelle Alexander aims to mobilize the civil rights community to move

the incarceration issue to the forefront of its agenda and to provide

factual information, data, arguments and reference for those interested

in pursuing the issue. Her broader goal is the revamping of the

prevailing mentality regarding human rights, equality and equal

opportunities in America, to prevent future cyclical recurrence of racial control under changing

disguise.[2]

 

Obama signs into law, a bill that lets him kill Blacks,

Arabs, any person of color. Don't worry White America,

you're safe. Blacks, Arabs, especially Muslims, beware

you could be as good as dead!

Posted on December 5, 2011 by empty wheel

The most shocking phrase in the Senate’s Defense Authorization detainee

provisions to me was not the language affirming indefinite detention.

That language simply affirms and possibly narrows the status quo. Rather,

it was this language purporting to strike a “balance” between military and

civilian detention for alleged terrorists by offering the Secretary of Defense

the option of waiving military custody for terrorist detainees.

The Secretary of Defense may, in consultation with the Secretary of State

and the Director of National Intelligence, waive the requirement of

paragraph (1) [mandating military custody of terrorism detainees] if the

Secretary submits to Congress a certification in writing that such a waiver is

in the national security interests of the United States.

The presumption of military detention is bad enough. But to codify that the

Defense Secretary would not even consult with DOJ on this front was

shocking.

After all, there is no reason any of these people–Defense Secretary,

DNI, or Secretary of State–would know about a terrorist suspect captured in

the US. They certainly wouldn’t know the investigation and prosecution

strategies.

Yet, the language passed last Thursday would not only allow the Defense

Secretary to bypass DOJ as a default, but wouldn’t even require the Defense

Secretary to ask whether it’s a good idea to move a suspect into DODcustody. It effectively makes civilian prosecutors supplicants to the military bureaucracy to be allowed to do their work.

And it’s particularly troubling given all the Bush-era instances in which FBI’s

experts on al Qaeda were prevented from using that expertise to question

detainees so Cheney’s torturers could torture them instead.

Eric Holder, Indefinitely Detained by DOD?

In a speech at Northwestern University yesterday, Attorney General Eric

Holder provided the most detailed explanation yet for why the Obama

administration believes it has the authority to secretly target U.S. citizens for

execution by the CIA without even charging them with a crime, notifying

them of the accusations, or affording them an opportunity to respond,

instead condemning them to death without a shred of transparency or

judicial oversight.

The administration continues to conceal the legal memorandum it obtained to

justify these killings, and, as The New York Times‘ Charlie Savage noted,

Holder’s “speech contained no footnotes or specific legal citations, and it fell

far short of the level of detail contained in the Office of Legal Counsel memo.” But the crux of Holder’s argument as set forth in yesterday’s speech is this:...click.................

 

 

 Under fire: President Obama is expected to sign the defence authorization

bill, in spite of stipulations that allow prisoners to be

held indefinitely Read more: http://www.dailymail.co.uk/news/article-

2074576/President-Obama-signs-law-detain-terror-suspects

-indefinitely.html#ixzz1ofC5LHdq

Will Obama send U.S. citizens to Guantanamo? Outrage

as President signs off law to detain home-grown terror

suspects indefinitely

President Barack Obama faced a civil liberties backlash today after he

signed a law that will allow terror suspects to be held indefinitely- even

raising the prospects of U.S. citizens being sent to Guantanamo Bay.

 

The controversial move, revealed lastnight, effectively extends the laws of

the battlefield to American soil. The move shows a clear hardening of Mr

Obama’s anti-terror policies, and a major shift from the liberal stance that

helped him sweep into power three years ago. Under fire: President Obama

is expected to sign the defence authorization bill, in spite of stipulations that

allow prisoners to be held indefinitely Under fire:

President Obama is expected to sign the defence authorization bill, in spite

of stipulations that allow prisoners to be held indefinitely After campaigning

heavily on the need to close the controversial terrorist detention base at

Guantanamo Bay, he failed to deliver when met with legal obstacles. Now,

showing that he has truly moved to the opposite end of the spectrum, he is

endorsing the tools and civil powers that he once rallied against.

'It's something so radical that it would have been considered crazy had it

been pushed by the Bush administration,' said Human Rights Watch

spokesman Tom Malinowski. More...

'You have offended the entire nation': Families left outraged after members

of U.S. Air Force 'play dead' in open casket Obama's campaign trawls for

Republican email addresses as his 'unfavorable' rating hits a high Blow for

Obama as Democrats forced to drop millionaire's tax during feud over

budget shortfall 'It establishes precisely the kind of system that the United

States has consistently urged other countries not to adopt. At a time when

the United States is urging Egypt, for example, to scrap its emergency law

and military courts, this is not consistent,' Mr Malinowski continued.

Considering he is now in the midst of running for re-election, comparisons

between Mr Obama and Mr Bush are certainly not something the President

wants going into the 2012 race.

Civil rights groups are outraged after he dropped the threat of a veto

Wednesday, meaning the bill will become a law and implement several

controversial provisions, like the ability to keep all terror suspects

imprisoned. Though there are already 46 indefinite detainees' at

Guantanamo currently, this new provision would allow the government to

consider Americans with close ties to Al Queda or the Taliban. Controversial:

The military base at Guantanamo Bay in Cuba has always been a divisive

topic because of the limited rights given to prisoners Controversial:

The military base at Guantanamo Bay in Cuba has always been a divisive

topic because of the limited rights given to prisoners One part of the debate

has been whether terror suspects should be prosecuted as criminals and

tried in a civilian court, as Mr Obama would like, or if they are deemed

‘enemy combatants’ and given trials in military courts which have less civil

liberties for the defendants, which Republican lawmakers would prefer.

The defence bill with the controversial position shows that in light of the

continued setbacks in the push for closure of Guantanamo, the Republicans

are seemingly winning the fight. Head office: Mr Obama has consistently

wanted the ability to have prisoners tried in civilian courts Head office:

Mr Obama has consistently wanted the ability to have prisoners tried in

civilian courts ‘While we remain concerned about the uncertainty that this

law will create for our counter-terrorism professionals, the most recent

changes give the president additional discretion in determining how the law

will be implemented, consistent with our values and the rule of law, which

are at the heart of our country's strength,’ the White House statement said.

Congress passed the massive $662 billion defence bill Thursday , the Senate

voting 86-13 for the measure. It would also authorize money for military

personnel, weapons systems, the wars in Afghanistan and Iraq and national

security programs in the Energy Department for the financial year beginning

October 1. The legislation is $27billion less than Obama wanted and $43

billion less than Congress gave the Pentagon this year, a reflection of

deficit-driven federal budgets, the end of the Iraq war and the drawdown in

Afghanistan.

In a rare show of bipartisanship, the House voted 283-136 for the measure

late on Wednesday. Sen. John McCain of Arizona, the senior Republican on

the Armed Services Committee, said Thursday the cooperation was a 'little

ray of sunshine' in a bitterly divided Washington. 

Read more: http://www.dailymail.co.uk/news/article-2074576/President-

Obama-signs-law-detain-terror-suspects- indefinitely.html#ixzz1of5GYwhd

Drops his threat of a veto against the defence bill even though he didn't like

certain controversial provisions Now American citizens can be arrested

within the U.S. and sent to Guantanamo if they're linked to Al Queda or

Taliban

Senate voted 86-13 to pass the massive $662billion defence bill By Meghan

Keneally UPDATED: 09:00 EST, 16 December 2011 Read more:

http://www.dailymail.co.uk/news/article-2074576/President-Obama-signs-

law-detain-terror-suspects-indefinitely.

html#ixzz1of7HiDUD

MailOnline - news, sport, celebrity, science and health stories Read more:

http://www.dailymail.co.uk/news/article-2074576/President-Obama-signs-

law-detain-terror-suspects-indefinitely.html#ixzz1of6CYIsV

 

They're aiming their sights much too low.  They're giving

mortgage frauds the store and the kitchen Sink!  Warn

them please...stop....rewind......demand the entire home

back!

Media Advisory for March 7, 2012 at 12:15 Contact: Margot Friedman, New

Bottom Line, at 202-332-5550 or mfriedman@du pontcirclecommunications.

com or Trevor Fitzgibbon, Rebuild the Dream, at 202-506-7162 or

trevor@fitzgibbonmedia.com Congressional Progressive Caucus,

Homeowners Call on FHFA Chief Ed DeMarco to Write Down Underwater

Mortgages orLeave His Job Underwater Homeowners from across the U.S.

say DeMarco Must Be Replaced with a Champion for Widespread

Principal Reduction for Fannie and Freddie Mortgages New Website ‘America

Underwater’ Launches Highlighting Map, Photos and Stories of Underwater

Homeowners with PetitionCalling on (Washington, D.C.) On March 7 at 12:15

p.m. at the House Triangle, members of the Congressional Progressive Caucus, i

ncluding CPC co-chair Rep. Raúl Grijalva (D-AZ), CPC co-chair Rep. Keith Ellison (D-MN),Rep. Jim Moran (D-VA), Rep. Sheila

Jackson Lee (D-TX), and George Miller (CA-7), will join underwater homeowners from CA, CO, FL, MA and WA to demand that

Federal Housing Finance Agency Acting Director Edward DeMarco commit to large-scale principal reduction for Fannie Mae and

Freddie Mac mortgages or get out of the way for a FHFA Director who will. DeMarco is not a household name, but should be

because he is holding our economy and millions of homeowners hostage. Experts across the political spectrum have called for

write-downs of mortgage principal for underwater homeowners to save families from foreclosure, reset the housing market, and

drive an economic recovery. DeMarco, a career bureaucrat and Bush Administration holdover, has flatly refused. He oversees

Fannie Mae and Freddie Mac, government-sponsored agencies that hold or guarantee 60 percent of the residential mortgages in

the U.S., including nearly three million underwater loans. At this event, The New Bottom Line and Rebuild the Dream will

announce the launch of the America Underwater website, with a map that calculates the influx of money to each state if FHFA

and the banks did large-scale principal reduction, a take action petition calling on President Obama to fire DeMarco, and the

America Underwater Tumblr blog (link: http://america-underwater.tumblr.com/) where underwater homeowners are posting pictures

outside their homes with signs of how much they are underwater and stories of how they got there.

http://us.mg4.mail.yahoo.com/neo/launch 

Folks...get a grip. I don't want a "write-down" of my mortgage. I want my house and home. If we agree that these mortgage lenders 

are frauds, then why make deals with a person who stole your car to give back the tires! What that says to me, is that this

so-called Progressive Caucus is not living up to its name. It is being meely-mouthed, conservative.......plain ole vanilla! These so

called lenders should be prosecuted and put in jail for years to come. Yet, they're given a free pass almost as a routine. 

Understand this....whether conservative, progressive, moderate, liberal, or llibertarian, it's all politics, and you get what you buy, 

and sometimes you get that for which you might not  have bargained.  Too often, those who would organize us, lead us, don't

insist on getting the car, they're willing to settle for the tires.

This all reminds me of slaves, who have to be told they're free, in writing, by their masters. These slaves are so conditioned,

programmed to be free when their overseers deem them so. The same with Blacks. We are willing never to seize our own freedom.

We must be freed by act, proclamation, decree, emancipation, or any document signed, sealed and delivered by whites, whether

the US, Africa, or the Caribbean. Consumers, debtors, taxpayers, homeowners, renters, all are acting and reacting as did we;

as if they are enslaved, and so they are!

Our so-called leaders ought to be ditched unless they show backbone. Don't be so quick to beg, or think small. The violators 

must pay, with their freedom, and their assets. Or they'll pay with their asses. It is as simple as that!

They're paid to violate federal law, rewarded for fraud, misrepresentation and blatant deceit: Our Regulatory

agencies pay these frauds to do ther undue diligence, and send us the bill. Whether mortgage fraud,

pension thieves or loan sharking.

Have a Car Title Loan, and past due parking or  traffic tickets? A bit of advice: Don't  get it

towed, you might  not  get it  back? Anybody who tells you that the law doesn't cover car title loans is either

ignorant  or  lying.

"In July of 2010, a new law was passed which will create a Consumer Financial Protection Bureau (CFPB) to oversee consumer lending. This means that for the first time, a federal agency will have the authority to rein in car title loans. The agency is likely to be created during the summer of 2011".

"Rollovers: Often, borrowers cannot pay the full amount they owe on the due date so they must extend or roll over the loan repeatedly by paying another fee. After rolling over the loan many times and paying many fees, consumers can end up paying more in fees than the amount they originally borrowed".

 

 

Useful (1) Funny Cool Bookmark Send to a Friend Link to This Review Flag this review Review from William B. 0 friends 4 reviews

William B. San Francisco, CA  2/8/2011 to Review First, I don't have a clever, entertaining way to say this.

Stay as far away from this company as you possibly can. I went to them as a last resort after an emergency vet bill

left me without means to pay the mortgage, survive. I'm new to the world of bad-credit-options--meaning predators. They gave me

a loan of $2600 in exchange for the title of my car, signed over to them temporarily until I paid off the balance. The APR is 184%.

I justified that by knowing that I only needed the cash for two months--funds to pay it back would be arriving, and I could absorb

the 400 something dollars per month because I had to. Then I'd pay them and be gone, and forget about this sad event. I was

mistaken.

Two weeks ago my car got towed by the city-- I'd made a bad parking decision. I also had parking tickets that needed to be paid before I could get it out, and since--as I mentioned--I have no emergency fund right now, I had to wait four days until I was paid before I could pick my car up. On the third day, RPM Lenders went to the city Auto Return and left with my car. I haven't seen it since. An important detail: My loan was current, my standing good; I was not late in any way on my payments to the loan, nor have I been accused of being late. On the Notice of Repossession it says, PAST DUE: $0. How comforting.

RPM lenders are eager to call you if you are late with a payment -- I know this only from having sat in their lobby on the day of the loan listening to the manager telephoning people and telling them their car could be repossessed. Chilling, for sure, but I knew I was responsable, with a steady income. However, if you are not late, not in default, they will not call to tell you that they have alerted the repo team who are driving to the city and are about to remove your car and change your life. It would have been a simple phone call. One call. The manager says that they are not required to do so.

 


America, The true oil kingdom? Really: Real or Imagined, a pipe dream or a true scenario?

Geologists Confirm Stunning 4.67 Billion Barrel "Gusher" in America's Last Onshore Oil Frontier...

Geologist report: You're sitting on "...the largest oil accumulation in the western United States!" This is a

massive oil discovery, the second of its kind in Nevada! Look for OREO trading at $25.00 this year...

yielding 1,670% over today's share

 

 

A home run for investors who act swiftly!

U.S.A... Now on Track to Become the World's #1 Oil Producer! Surprised? Don't be. Insiders know it and they're moving fast.

Don't be caught on the sidelines here. You could miss the best opportunity in a lifetime to build investment wealth in energy.

 


The picture below speaks to you. if....you're a home borrower,

consumer, debtor taxpayer, middle class, or low income.....you, my

friend are enslaved! 

We will use the pages of this website to demonstrate and show the yellow brick road.

That is, if you're not too programmed to take full advantage Suppression goes on in the

south, that part of the nation which is tantamount to a third world country. Many

small towns without public transit, health care, political and social 

awareness. The problem is that the Presidents we elect are beholden to

a different leader. Barack Obama is even more so. The highest ranking

slave! He does the massuh's bidding, against much more than just black

slaves. Abuse, injustice and tyranny have  preempted racial lines.

 

Civil Rights Group Celebrates Victory Against Private Prison Corporation

ColorOfChange members joined fight to stop Mississippi private prison's practice of abusing youth Walnut Grove, MS – On Tuesday, ColorOfChange.org celebrated the announcement that youth incarcerated at the privately-run Walnut Grove Youth Correctional Facility in Mississippi will no longer be confined in an abusive and violent environment where inmates are regularly subjected to beatings, sexual abuse, and long periods of solitary confinement.

So!!!.... you entered into a short sale agreement..... don't be fooled.

You can't buy your house back, you've lost it!

Short Sales Before or After Bankruptcy UPDATE: 2011

 

If you're facing a foreclosure, and you've been told that it will be "Better" for you to do a short sale. Take a deep breath. Sit down

and think through a few things. Better How? Its easy to assume sometimes that if something's sold as "Better" that we understand

what that means. The most common understanding is that having a short sale will impact your credit less than if you have a

foreclosure. I'm going to demonstrate exactly why you should think twice before you follow this advice. I'm also going to discuss

what your options are...but first I need you to understand a couple of simple things. Credit Bureaus secret code 22.


 

 

Paying a mortgage loan?  you're never going to pay it off.  More likely, you're paying a 

con artist!

  

Financial Crimes Report to the Public 

Fiscal Years 2010-2011

"The FBI continues to address corporate fraud cases—specifically involving subprime lending institutions, brokerage houses, home-building firms, hedge funds, and financial institutions—as a result of the financial crisis partly caused by the collapse of the subprime mortgage market in the fall of 2007. As a result of the current financial crisis, trillions of dollars in shareholder value were lost, several prominent companies went out of business, several prominent banks failed, and the federal government provided over a trillion dollars in relief to keep other companies from failing".

 

"Additionally, corporate fraud matters involving self-dealing by corporate executives, particularly utilizing companies to perpetrate large-scale, high-yield fraud schemes, continue to be an issue of concern. Traditionally, Ponzi schemes were perpetrated by individuals or small groups within a community environment. However, the current financial crisis resulted in the exposure of several large Ponzi schemes (e.g. Petters Worldwide investigation) perpetrated not on an individual community level, but on a corporate national level by executives of what were once considered legitimate companies".

 

As publicly traded companies suffered financial difficulties due to subprime market losses, analyses of company financials have identified instances of false accounting entries and fraudulently inflated assets and revenues. Investigations have determined that several of these companies manipulated their reported loan portfolio risks and used various accounting schemes to inflate their financial reports. Additionally, before these companies’ stocks rapidly declined in value, executives with insider information sold their equity positions and profited illegally. The FBI continues to coordinate with the U.S. Department of Justice (DOJ), the SEC, and other U.S. law enforcement and regulatory agencies to identify and address possible corporate fraud.

 

When "Occupy Wall Street" turns into a mob bent on overthrowing the US Government: Pension and Mortgage Free Fall has happened in Greece, and is deep into the American Economic System! Do you  have your Survival Kit? Strike that, Forget it; a survival kit is but a bandaid.a

US Attorney: Mortgage lenders commit fraud, calls some "con artist"

Occupy Wall Street with Occupy Groups in 70 Cities Nationwide Stand up to Corporate Greed and ALEC National Day of Action to Resist the Selling Out of the 99%

 

http:// ab&hl=en&site=&source=hp&q=why+mortgage+fraud+matters%2Fus+attorney&aq=&aqi=&aql=&oq=&pbx=1&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=eb411d6ba194522&biw=1246&bih=620

Is the US Attorney Serious? Does Mortgage Fraud Truly Matter to the Department of Justice, The IRS? Well, if you can believe this US Attorney, It Does...

The lure of easy money was an open invitation to those propelled by greed. whether savvy fraudsterts, ethically-challenged real estate professionals,  mortgage lenders, and they took advantage of the opportunities presented. Across the nation, especially in rapid expanding suburban areas, many homes sold at inflated prices, supported by questionable appraisals. The loan funding the sale were often obtained with false loan applications  supported by forged financial documents, or sometimes, no documents at all. The borrower was often a "straw buyer" who often had no intention of actually liviing in the home, but merely, allowed a con artist to use their name and good credit to purchase a home that would be foreclosed upon soon after the con artist made off with the excess loan proceeds."

http://www.google.com/#sclient=psy-ab&hl=en&site=&source=hp&q=why+mortgage+fraud+matters%2Fus+attorney&aq=&aqi=&aql=&oq=&pbx=1&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=eb411d6ba194522&biw=1246&bih=620

 

Were you forced out....or did you leave before they sold it? If you left on your own.....bad move all the way around....! If you stuck it out, your toughness might just pay off big!

How Greece Could Take Down Wall Street

By Ellen Brown - HuffPost Business In an article titled "Still No End to 'Too Big to Fail,'" William Greider wrote in The Nation on February 15: Financial market cynics have assumed all along that Dodd-Frank did not end "too big to fail" but instead created a charmed circle of protected banks labeled "systemically important" that will not be allowed to fail, no matter how badly they behave.

That may be, but there is one bit of bad behavior that Uncle Sam himself does not have the funds to underwrite: the $32 trillion market in credit default swaps (CDS). Thirty-two trillion dollars is more than twice the U.S. GDP and more than twice the national debt......more...

w

 

Legal, Judicial, Economic and Political News & Information-Providing Services for all eyes and ears, based in El Sobrante, California 

Providing the roadmap to legal advice and information services to help you, Harper Enterprize, based in El Sobrante, California, has answers to many of your legal questions. Wendell Harper has the ability to do research that uses highly potent, effective key words that elicit relevant responses..
Legal - Legal Advice and Information Services in El Sobrante, CA
     

Personal Insights
With a background in news, as a producer, and program host,  Wendell is able to provide top perception on critical matters. One example of keywords that bring radiant results are bits that hatch prime answers in discovering the working switches and dials of daily living; information of a legal perspective on issues of mortgage fraud, loan flipping, Remics, Mortgage-backed Securities, Cash Balance Pension Plans; how the internal  revenue service treats these issues, what you and I may accomplish in tempering their procession to our benefit; or how to avoid losing your home even while not paying the mortgage; how you might well be paying a mortgage to an entity or individual who has no legal claim on your home; other vital information... a connection to all of this through the entertainment historical dynamic. In fact, as the borrower, if you've been in your home more than five years and you have refinanced, you already own it. I'll tell you ways to codify that homeownership!

Harper Enterprize Services:

 • Information From a 
   Historical Perspective
 • Explanation of the
   Entertainment Process		  • Legal Perspective
 • Administrative
   Social Role Playing

 

Harper Enterprize
Established in 2007, the owner of Harper Enterprize, Wendell Harper has 31 years of experience working as a journalist, reporter, and talk show host. He then transitioned into the business of providing his own journalistic adventure and offering information that is not necessarily common knowledge.

Contact Harper Enterprize in El Sobrante, California, for legal advice and information services to make more intelligent and informed decisions.

   

 
 

 

The National Debt Nor The Federal Deficit Ever will be balanced. The US Deficit Only will grow due to Massive Mortgage and Pension Benefit Fraud by Congress, The US Treasury, other Federal Agencies, and the Mortgage Industry!

 

Hiding the Enforcement Fraud At the Heart of the Mortgage Settlement

By Abigail Caplovitz Field | April 10, 2012 86Share Update: When reading about how “our” government sold us the servicing standards as the big prize in the deal (along with the $25 billion that isn’t) even as they agreed the standards wouldn’t be meaningfully implemented or enforced, remember that the Consumer Financial Protection Bureau will be rulemaking on servicing during the settlement’s duration, with its rules set to take effect in 2013 and 2014, well before the 2015 expiration date of the deal. So the “standards” in this deal are even more useless than they otherwise appear.

On Thursday, April 5th U.S. District Court Judge Rosemary M. Collyer announced she had decided to sign off on the ”$25 billion” Mortgage Settlement. By “announced”, I mean she signed the consent orders all our major law enforcers and the biggest bankers had agreed to, and entered them into the record. Judge Collyer didn’t actually say anything about the deal.

She didn’t let anyone else say anything, either: she didn’t hold a public hearing on the deal. In acting silently, Judge Collyer not only okayed the deal’s lousy terms, which institutionalize servicer theft and foreclosure fraud, she reinforced the incredibly poor public process that’s kept the enforcement fraud at the heart of the deal hidden. Deliberately hidden.

Magical Misdirection To understand just how deceptive “our” government and “our” law enforcers have been with us, imagine them as a Shakespearean magician, confessing his thoughts to us as he tries to trick an audience seated just off stage. Hear the magician, as he secretly pleads for his misdirection to work: ‘Please, keep focused on this hand, the one with the wand waiving above the shiny new servicing “standards.”

Pay no attention to what I’m doing with my other hand. Please don’t notice me transforming the “standards” into empty promises through the ‘magic’ of metrics. I must succeed at controlling and guiding your attention, so you fall for my trick! Otherwise, my trick is obvious-my ‘magic’ is all there in black and white, in Exhibits E and E-1. So don’t look there…stay with me, stay focused on the new servicing “standards” and that big sounding “$25 billion”… Think I’m overstating the deliberate deception in selling the Mortgage Settlement as something other than the enforcement fraud it is?

Let’s review the history.

Keeping People Focused on the Servicing “Standards” From the very beginning, the initial deal announcement a year ago, the government tried to sell the premise of the sleight-of-hand to come: Tough law enforcers, banding together, would force the bankers (wearing their mortgage servicing hats) to transform their abusive and illegal standard operating procedures into the basic, ‘thou shalt follow the law and deal fairly, in good faith’ standards ultimately embodied in Exhibit A.

Here’s how the Washington Post presented what was happening on March 7, 2011: “The state attorneys general investigating abuses in the mortgage servicing industry said Monday that as they hammer out details of a massive settlement with banks, their main objective remains fixing a system that has subjected consumers to confusion and financial strife.”

What we’re really trying to do is change a dysfunctional system,” said Iowa Attorney General Tom Miller, the point man for a 50-state effort.” (bold mine) Fixing servicing, folks, that’s what we’re doing, fixing servicing.

But the Post reported that people wanted more. At the same time Miller was making those statements, protesters organized by the National People’s Action network were telling law enforcers to “stiffen their backs”, “do justice”, and “make Wall Street pay.” But the AGs kept guiding everyone’s attention back: “Illinois Attorney General Lisa Madigan sought to comfort the protesters. ‘For those consumer advocates who are rallying, we hear you,’ she said. ‘Laws are not being followed by the servicers.

That absolutely has to change.’“Keep your eyes on those shiny new servicing standards we already leaked, folks. At the start, it wasn’t clear the misdirection would work. Here’s my coverage of those initial leaks. Yves Smith also wasn’t buying. We weren’t alone; skepticism abounded. But still the misdirection efforts continued.

Throughout the year of negotiations leaks regarding servicing, the “$25″ billion, principal reduction, and vague statements of strong enforcement provisions dripped out. We skeptics knew the banks’ word is no good, so we hammered on the enforcement issue, confident that at least some of the AGs understood. Heck, Nevada’s Catherine Cortez Masto sued BofA for breaking its word, and Massachusetts’s Martha Coakley sued all five bailed out banks, because they weren’t negotiating in good faith.

Naive us; in the end all the AGs took the deal, except Oklahoma’s, who rejected this enforcement fraud as too harsh. Worst, our demands for transparency and accountability were so ineffective that when the deal was announced on February 9th, with great fanfare and consumer group support, the enforcement terms, particularly the metrics, hadn’t seen the light of day.

“Our” government’s magical misdirection machine was that powerful. On February 9 the government also launched a slick website,

www.NationalMortgageSettlement.com that, for the month between deal announcement and deal submission to Judge Collyer, had only an “Executive Summary“, a “Fact Sheet“, a “Benefits to Servicemembers and Veterans“, a “Servicing Standards Highlights” and some “FAQ“.

That is, only the ‘good’ stuff–nowhere on the website were the metrics or any other meaningful discussion of the enforcement terms. Servicing Abuses Institutionalized, Not Ended Can you imagine the brouhaha if people had a month to really look at and consider the enforcement terms? The flaws aren’t limited to how pathetically weak the compliance metrics are.

To recap: no one yet knows which servicing “standards” will take effect when, or if the deadlines will be extended as the deal allows. Until a standard is in effect, there’s nothing to measure compliance with. Worse, the the measuring process itself still has to be negotiated, so standards may take effect without a compliance process to verify implementation.

Worst, the metrics let the servicers systematically steal from you and defraud the courts without risk of consequence. Heck, even if all servicing standards take effect before the deal expires, and all the work plans are finalized so that all the metrics are being computed, and banker theft rises to the level that a bank fails a metric, no penalty kicks in unless it’s the second quarter in a row that the bank failed that metric.

How’s that for a show of brute law enforcement power by our big bad government? ”Our” Justice Department, “our” federal regulators, and “our” attorneys general really transformed the servicers business practices, right? Ironically, on the day that Judge Collyer silently sent the deal into the public record, Bankruptcy Judge Elizabeth Magner issued a stunning indictment of both Wells Fargo’s systematic theft from borrowers and its bad faith in negotiations. See Yves Smith on Magner’s opinion here, and David Dayen here.

One judge wrung more out of Wells for stealing from a single homeowner–$3+ million in punitive damages–than Wells faces for a whole quarter of similarly stealing from many of its borrowers. But let’s not get caught up in how bad the deal is; I want to stay focused on the magician’s telling us to where to focus our attention so we think he really did pull a bankers-will-obey-the-law rabbit out of his hat. Four days after the deal was announced, the Wall Street Journal published drafts of some of the deal documents.

Notably a draft of the metrics or any other part of the enforcement section was missing. The Journal only linked to the deal parts it was given, the ones the power structure magicians wanted us to see: the “Servicing Standards,” the “Borrower Relief”, and the “Menu of Credits.” That is, promises the banks would follow the law going forward, that homeowners would be helped, and for the sophisticated, that the help would be even greater than $25 billion.

Just one sentence on enforcement– “Also included in the final deal: terms spelling out what powers are given to the independent monitor overseeing the deal, and rights of action for states if banks are found to run afoul of the terms.” No sneak peek at what that the magician’s other hand was up to.

The very first time that the public had a chance to see that the promise of banker law-abiding going forward was a lie was March 9, 2012, the day the deal documents were filed in court. Even then the misdirection continued. Hiding In Plain Sight Even though the text of Exhibits E and E-1 were now available for viewing, the government steered attention elsewhere, toward the complaint.

The complaint is the easiest to read, and it is featured most prominently on lead “negotiator” Iowa Attorney General Tom Miller’s website of deal documents. See? “Complaint (PDF)” is in bold, and perhaps larger font, than all the other linked documents below it. Similarly, now that the mortgage deal website is updated to reflect the Judge Collyer-okayed deal, this is how the information is presented to the public: SETTLEMENT DOCUMENTS USDOJ Filing News Release (pdf) Complaint (pdf) Ally/GMAC Consent Judgment (pdf) Bank of America Consent Judgment (pdf) Citi Consent Judgment (pdf) JPMorgan Chase Consent Judgment (pdf) (Note, I can’t find JPMorgan Chase’s signature on it–the other banks signed on the last pages of theirs, but hey, Judge Collyer signed it and it’s uploaded on the official site as JPMorgan’s Consent Judgment, so it must be so.) Wells Fargo Consent Judgment (pdf) Consent Judgment Exhibits A-I (pdf) Self-congratulatory press release, the complaint, the bare seven page agreements to the deal (followed by tons of signature pages) and then, at bottom, the no-content labelled “Consent Judgment Exhibits A-I (pdf)”. ‘What are Exhibits A-I?’ someone might wonder.

Doesn’t sound like important reading. How likely do you think it is that someone will click through, scroll down, find Exhibits E and E-1 and read them? AG Miller’s site, complaint highlighting aside, is much better on this point, breaking out each exhibit by bank with labels that tell you what they are.

The Justice Department’s presentation is in the middle; the complaint tops the list of documents, but isn’t bolded; however, the critical exhibits aren’t identified in any way. They’re simply included with each consent judgment. Since the audience is being steered to the complaint, what do they get if they read it? Well, here’s my take, which is basically that the complaint’s so harsh sounding it’s impossible to understand why we haven’t seen a single indictment of a big banker.

The harsh language is part of the misdirection: boy do they sound tough on the banks, so surely the deal struck is tough right? Some facts, besides enforcement, were apparently so risky to let the audience see, they weren’t included in the complaint though naturally they would have been. That is, the complaint says only something vague about all the origination fraud the banks committed, though it details other kinds of wrongdoing: “67.

In the course of their origination of mortgage loans in the Plaintiff States, the Banks have engaged in a pattern of unfair and deceptive practices.” (see page 28 at B) To understand how badly the bankers abused consumers when making loans, you need to read the relevant section of the federal release … “D.

The United States further contends that it has certain civil claims based on the … following conduct: … [lists 13 different kinds of bad stuff] Why is detailing origination fraud in the document the public is most likely to read risky? Well, consider origination fraud type (e): (e) Valuing the properties used as collateral for such loans… (e) is talking about appraisal fraud, a topic that deserves much pointed attention at a time when so many borrowers are deeply underwater.

But for the rampant, lender controlled appraisal fraud inflating the original principal balances, fewer people would be underwater, and those that are would be closer to the surface. …I mean, it might be very difficult to maintain the irresponsible borrower stereotype if millions of people started focusing on origination fraud. And solving the underwater problem doesn’t pose such a moral hazard if all those balances were fraudulently inflated by the lenders, does it?

Sticking all the origination fraud detail in the release instead of the complaint looks like an effort to hide truth that could impact policy if only people knew it. So there it is–for over the last year, “our” government has carefully steered your attention where it wants it, maintaining its tough on bankers, fair to the public illusion.

Now Judge Rosemary Collyer has played magician’s assistant, signing off quietly, not risking redirecting the public’s carefully guided attention. So here’s the bottom line: will the media and grass roots groups let the trick work all the way through election day? Or will they snap the public out it, break the spell?

I mean, just imagine how angry voters would be if the enforcement fraud is seen clearly for what it is. And then the big question is: will the new servicing standards promulgated by the Consumer Financial Protection Bureau be yet another exercise in misdirection and enforcement fraud? Or will Americans finally get some change we can believe in?

20 comments • Uncategorized Share on Twitter, Facebook, Delicious, Digg, Reddit, LinkedIn, «Previous Post Next Post » 20 Comments Pingback: Proof the AG Settlement Failed « Foreclosure Defense & Strategic Default Pingback: Field on Foreclosure Fraud Settlement Mike Dillon on April 10, 2012 at 10:24 am. Part of what gets me is everyone’s assertions that “We acted as quickly as we could.” to address this “crisis.” Bovine scatology, as Judge Roy Bean says. Being in possession of multiple complaints involving Fairbanks Capital Corp, n/k/a Select Portfolio Servicing, to 27 state Attorneys General (including Tom Miller’s office) going back to at least 2002 ( http://www.getdshirtz.com/index.php?option=com_rokdownloads&view=folder&Itemid=135 )

I would venture to say that ALL 50 AGs knew of Mortgage Servicing Fraud practices. Everyone knew this was happening. No one cared. I put NH AG Michael Delaney’s office on notice in 2009 shortly after he took office. Never heard peep one. That same year, I requested a GAO review of the Federal Trade Commission and Cc’d 40+ members of the House and Senate ( http://www.getdshirtz.com/index.php?option=com_k2&view=item&id=100:gao-request ) because USA/Curry v Fairbanks, FTC v. EMC.Bear Stearns and FTC v Countrywide/BACHLS simply did not do enough to protect homeowners. This song and dance has been going on for more than a decade.

Both HUD and the FTC were aware of problems with force placed insurance back in at least 2003 when HUD-OIG interviewed several then Fairbanks employees who outlined kickbacks both in the industry, in general, and to Fairbanks specifically. Yes, those documents can be found as Exhibits T-V of the GAO Review request. Since the state of New York, at least, is finally getting around conducting some form of investigation into force placed insurance, I put a call in to Deputy Joy Feigenbaum’s office last week to see if they would be interested in the documents. Since no one has returned the call, maybe they’ll find the link to them here.

This “settlement” is an amalgamation of every settlement that has gone before it. And like every settlement before it, it screeches woefully short of ACTUALLY helping homeowners. Part of the excuse I received as to why more severe action wasn’t taken against then Fairbanks, in 2004, was that Fairbanks was severely under-capitalized. A year after the USA/Curry settlement was announced, and two years BEFORE the settlement was revisited and restructured to, by then, Select Portfolio Servicing’s benefit Fairbanks/SPS was sold to Credit Suisse First Boston (now simply Credit Suisse) at which point SPS immediately inherited a $6 Billion servicing platform.

And yet, no mention of any increased penalty was made during the re-negotiation of the settlement. As you point out, Ms. Field, Judge Magner most likely had a more direct effect on the future servicing actions of at least Wells Fargo than this entire settlement will.

I still like Richard Zombeck’s quote of, “If I’m robbing houses and I get caught, and all they say is “You’ve got to pay back 10% of what you stole.” not only am I going to continue to rob houses, but I’m going to hire a crew.” I’ve been saying, for years now, that the ONLY thing that is going to actually FIX the various problems and frauds that make up Mortgage Servicing Fraud is individual case law.

Every homeowner is on their own to fight for themselves. And I can find little better evidence of that when programs like Neighborworks Greater Manchester “Free Foreclosure Prevention and Intervention Workshop” is sponsored by Bank of America ( http://www.nwgm.org/home-buyer-education-assistance/free-foreclosure-intervention-and-prevention-workshop.asp ) and politicians like US Senators Kelley Ayotte and Jeanne Shaheen attend events sponsored by Bank of America ( http://www.portsmouthchamber.org/cwi/calendar/calendar_display.cfm?eventID=3550 )

At first glance, the over/under for people going to jail as a result of the S&L crisis appears to have been 1000. I believe Prof. William Black has pegged this current “crisis” as 70x larger. So far, ZERO people jailed. No one is watching “our” backs, we’re on our own – especially if we don’t clean house in Washington.

Reply lvent on April 10, 2012 at 1:41 pm. Right on Abigail! I would like to know how these liars live with themselves? The judges are not following the rule of law and they also think they are above the law. I saw it firsthand today in Cook County foreclosure court. The bank attorney lied through her teeth and said she did not receiving my response to their strike of my affirmative defenses even though my response was in their latest filing!

he judge would not even let me speak on my behalf. He gave me 28 days to re-enter and set a hearing date about the matter for June. He advised me to get an attorney. I have a name for those attorneys. I call them “the fixers.”

They are all liars and they are all full of shift.

 

Can they truly show you how to save your home from foreclosure? They Swear by their position!

Four Steps to Stop Foreclosure Fraud

RightToCancel.com

TO: Wendell Harper

Message flagged Thursday, April 26, 2012 12:13 PM Hi Wendell, If you are (ANY) of the following, this is for you:

1. A Homeowner Behind on Mortgage Payments.

2. A Homeowner in a Foreclosure.

3. A Homeowner with an Adjustable Rate Mortgage.

4. A Homeowner Worried About Losing Home to Banks.

5. A Victim of Predatory Lending Practices.

On Monday, April 30th at 4:30PM EASTERN time, We'll holding a free LIVE call where Rick and Justin will reveal... (4) FOUR STEPS that you can do to STOP FORECLOSURE FRAUD from real people who have beat the Banks!

We are not going to hold anything back, so if you are timid or scared about fighting back to protect your home from being stolen by the banksters that have destroyed the US economy, then this is NOT for you.

So, if your ready to put your (Big Boy) or (Big Girl) pants on and start taking action to keep you and your family safe in your home, then CALL US right now and mention this email.

RightToCancel Help-Line: (813) 448-2108 READ THIS: Space is limited to *50* callers and the spots for this LIVE CALL will fill up fast, so call now to get your 1-TIME FREE-ACCESS CODES. ------------------------------------------------- ...And if you don't already know what RightToCancel offers, then please read a few of the benefits as a member.

*EZ Document Templates that include an proprietary Administrative Remedy Demand to force the Banks or their Attorneys to Prove their claim!

*Weekly access to Private Live Education Calls.

*Instant access to hundreds of self-help videos, audios and resources you can use to learn exactly how to fight back and defend your home against the banks.

We've got a bunch of dum asses bound to convince homeowners that the regulators of this government have the power to make settlements when they're involved in criminal activity themselves.

The corrupt cannot excuse the corrupt! Shut up, or put up.

 jeff said... More Fraud: The mortgage company maintains two sets of books regarding your mortgage payments. The local set of books is a record that they loaned you money and that you agreed to repay that money, with interest, each month. The second set of books is maintained in another State office, usually a bank because the mortgage companies usually sell your loan contract to a bank and agree to monitor the monthly payments in order to conceal the fraud. In the second set of books, your monthly mortgage payment is recorded by the bank as a savings deposit because there is no real loan. When you pay off the fraudulent mortgage, the bank waits 90 days and then submits a request to the IRS. The request states that: “Someone, unknown to this facility, deposited this money into our facility and has abandoned it. May we keep the deposit?” The IRS always gives their permission to the bank to keep the deposit and your hard-earned money just feathered the nest of the Rockefellers, Rothschilds and eleven other wealthy families in the world! www.stopthepirates.blogspot.com

These guys are going to be exposed, and we will insist that Obama be the subject of impeachment, that regulators individually engaged in wrongdoing be tried and convicted.

President Bush meets with Congressional members, including presidential candidates John McCain and Barack Obama, at the White House to discuss the bailout, September 25, 2008.[24]

Correction: Replace former President Jimmy Carter on this picture with former and late President Ronald Reagan. He essentially started this economic downturn with his "Reaganomics".

None of the Presidents involved in this should go unpunished. They must be impeached, or tried as civilians.

More...

The Obama and Bush Administrations Are Complicit in Bankers’ Massive Foreclosure Scheme

A Black Agenda Radio commentary by Glen Ford A new report shows the Obama administration has been just as protective as its Republican predecessor of bank robo-signing: forging the signatures of millions of homeowners in order to foreclose their homes. “Theft and fraud were standard practice on Wall Street, and both the Bush and Obama administrations knew it, and protected the criminals.” Obama didn't just “inherit” Bush's entanglement with Wall Street robo-gangsters. He joined the criminal enterprise. Obama and Bush Administrations Complicit With Bankers’ in Massive Foreclosure Scheme A Black Agenda Radio commentary by Glen Ford “The robo-signers kept stealing as a matter of routine, while the Obama administration pretended it was on the side of the people.” Both the Bush and the Obama administrations are complicit in the gargantuan and ongoing corporate conspiracy to unlawfully foreclose on the homes of millions of Americans. The U.S. government, through its quasi-private housing corporation Fannie Mae and the Federal Housing Finance Agency, which is supposed to oversee the millions of mortgages guaranteed by Fannie Mae, collaborated in the so-called “robo-signing” scheme that has allowed banks to repossess homes without proof they own the mortgages to the houses. That’s the scenario that emerges from a new report by the Inspector General of the Federal Housing Agency. It is an indictment of the clear complicity of two administrations – one Republican, the other Democratic – in the total abrogation of the rule of law as it pertains to Wall Street. The report shows that the Bush administration was made aware, back in 2003 that banks were engaged in wholesale fraud and theft of properties of American homeowners. The housing bubble had not yet burst, but the banks were gobbling up properties, especially defaulted sub-prime mortgages that had been targeted at Blacks and Latinos. But, because of the banks own practices of bundling mortgages into securities and then immediately passing them on to suckers down the line, the banks did not have clear title to the properties. They sold them anyway by forging signatures by the millions. Theft and fraud were standard practice on Wall Street, and both the Bush and Obama administrations knew it, and protected the bankster criminals. Law firms did much of the criminal dirty work. At least one legal outfit in Florida processed 75,000 robo-signed signatures a year for Fannie Mae.

Mr. Kudlow has a point: Tarp and its government oversees are a criminal enterprise!

. . . Kudlow’s Money Politic$ Larry Kudlow’s daily web log of matters political and financial.

TARP, the Criminal Enterprise?

By Larry Kudlow

April 22, 2009 4:20 P.M. Comments 1 Is the whole TARP plan a criminal enterprise? Sounds farfetched, I suppose. But after reading about Special Inspector General Neil Barofsky’s report, it may well be that TARP is just one big criminal problem. Listen to this: Barofsky’s investigators reported Monday that they have opened 20 criminal probes into possible securities fraud, tax-law violations, insider-trading, and mortgage-modification fraud related to TARP. Yup, those are criminal probes. Barofsky is the special IG overseeing the bailout program. And for some reason the mainstream media refuses to report this on the front pages where it belongs. Barofsky’s report spans 247 pages. And it says that the very character of the bailout program makes it “inherently vulnerable to fraud, waste and abuse, including significant issues related to conflicts of interest facing fund managers, collusion between participants and vulnerabilities to money laundering.” By the way, one of Barofsky’s recommendations is for Treasury to abandon its whole plan of buying toxic assets from banks and investors. The IG’s report also notes that what started last October as a single-purpose $750 billion effort to buy toxic securities has morphed into twelve separate programs that cover up to $3 trillion in direct spending, loans, and loan guarantees. In other words, TARP is nearly equal in size to the entire federal budget. Now, Geithner & Co. has said very little about this. Even in yesterday’s TARP oversight hearing, very little was said about the Barofsky critique. That’s too bad, because this is a crucial area of investigation. TARP is badly in need of reform — or maybe better yet, badly in need of termination. Think about this: TARP, which is now linked to substantial criminal activity, has ballooned to the size of a second federal budget and represents the biggest government-directed intrusion into the economy in history — vastly bigger than the New Deal. And not only is there TARP for banks, insurance companies, and non-bank financial institutions, but also for GM, Chrysler, and various auto suppliers, and perhaps soon enough for credit cards, newspapers, and other sectors of the economy. This is why I believe the era of democratic free-market capitalism is coming to an end. It is being replaced by state-directed corporatism on a grand scale. This is central planning that goes way beyond the American tradition. Now we will wait and see if the investigative process for TARP

. . . Kudlow’s Money Politic$ Larry Kudlow’s daily web log of matters political and financial. About This Blog Archive E-Mail RSS Send Print | Text TARP, the Criminal Enterprise? By Larry Kudlow April 22, 2009 4:20 P.M. Comments 1 Is the whole TARP plan a criminal enterprise? Sounds farfetched, I suppose. But after reading about Special Inspector General Neil Barofsky’s report, it may well be that TARP is just one big criminal problem. Listen to this: Barofsky’s investigators reported Monday that they have opened 20 criminal probes into possible securities fraud, tax-law violations, insider-trading, and mortgage-modification fraud related to TARP. Yup, those are criminal probes. Barofsky is the special IG overseeing the bailout program. And for some reason the mainstream media refuses to report this on the front pages where it belongs. Barofsky’s report spans 247 pages. And it says that the very character of the bailout program makes it “inherently vulnerable to fraud, waste and abuse, including significant issues related to conflicts of interest facing fund managers, collusion between participants and vulnerabilities to money laundering.” By the way, one of Barofsky’s recommendations is for Treasury to abandon its whole plan of buying toxic assets from banks and investors. The IG’s report also notes that what started last October as a single-purpose $750 billion effort to buy toxic securities has morphed into twelve separate programs that cover up to $3 trillion in direct spending, loans, and loan guarantees. In other words, TARP is nearly equal in size to the entire federal budget. Now, Geithner & Co. has said very little about this. Even in yesterday’s TARP oversight hearing, very little was said about the Barofsky critique. That’s too bad, because this is a crucial area of investigation. TARP is badly in need of reform — or maybe better yet, badly in need of termination. Think about this: TARP, which is now linked to substantial criminal activity, has ballooned to the size of a second federal budget and represents the biggest government-directed intrusion into the economy in history — vastly bigger than the New Deal. And not only is there TARP for banks, insurance companies, and non-bank financial institutions, but also for GM, Chrysler, and various auto suppliers, and perhaps soon enough for credit cards, newspapers, and other sectors of the economy. This is why I believe the era of democratic free-market capitalism is coming to an end. It is being replaced by state-directed corporatism on a grand scale. This is central planning that goes way beyond the American tradition. Now we will wait and see if the investigative process for TARP turns into a judicial process, and whether this criminal enterprise puts the long arm of the law onto specific, individual criminals.

http://www.nationalreview.com/kudlows-money-politics/2111/tarp-criminal-enterprise

 

 

View more videos at: http://nbcnewyork.com.

Well now, whatdayya know! The Mortgage Fraud Giant Chickens are coming home to roost!

Counties Seek Millions From Mortgage Giant

Most Americans have never heard of it, but this mortgage industry holds interests in 50 percent of all U.S. home loans. No, not Fannie Mae, or Freddie Mac either. Mortgage Electronic Registration Systems, otherwise known as MERS, is a private firm that tracks ownership in hundreds of thousands of home loans. The computerized network allows banks to buy and sell mortgages without having to record the transfers at the county level. An added bonus for the banks is the avoidance of county fees. When MERS is used to turn a regular mortgage into an investment, financial institutions don’t pay “recording fees,” which are usually small charges of between $50 and $100, to the counties where the underlying properties are physically located. This has some county clerks upset. PHOTOS AND VIDEOS PHOTOS Top New York News Photos of 2011 More Photos and Videos “The average Joe who comes into my building, hard working people, have to pay the fees,” said John O’Brien, register of deeds in Southern Essex, Massachusetts. “Why in God’s name can’t banks and Wall Street lenders do the same thing? Play by the same rules!” O’Brien has officially requested that Massachusetts Attorney General Martha Coakley file suit against MERS, seeking $22 million in unpaid recording fees associated with home loans that were bought, sold, and securitized since 1998. “I have challenged them to open their books and show me how many times they have moved people’s mortgages around,” O’Brien said. In Suffolk County, former county clerk Ed Romaine is making a similar request. Now serving as a county legislator, Romaine has asked the Suffolk County attorney explore a lawsuit against MERS that he says would claw back more than $100 million for taxpayers. Romaine unsuccessfully tried to block MERS from doing business in Suffolk County back in 2001. “I saw a problem because we would not know who would be the owner of these mortgage notes because they would be sold in a private system and not recorded in a public system,” Romaine said. The prediction wasn’t far off. Mortgage industry insiders say a major reason many of the nation’s foreclosures are stalled or progressing at a slow pace is the inability of MERS to identify what parties actually hold title to distressed mortgage loans. The problem has led housing advocates to begin demanding foreclosure agents show proof of which investors actually hold legal claim on properties. 

http://www.nbcnewyork.com/news/local/County-Clerks-Seek-Millions-From-Mortgage-Giant-117559673.html

They're not mortgage lenders, they're claim jumpers! whether banks, savings and loans, brokers. or US Government Officials.

So your home is all paid for.....or so you think, and you may rest easy now that you don't have to worry about payments.

you're dealing with wholesale fraud, and there are no good

guys!

"Over the past several years, the real estate industry in the United States has undergone a near collapse. House prices have been reduced by 25% nationwide due to the bursting of the real estate bubble. Alaskans have thus far largely avoided a big dive in their home values and hope to continue to do so. Foreclosures in Alaska are nowhere near as numerous as they are in the Lower-48. However, there is one aspect of the home mortgage disaster that no State will be able to avoid. This involves the mismanagement and fraud relating to mortgage loans that largely occurred after the loan closed and was recorded in the local courthouse as a lien on the property along with the new deed of ownership. This unlawful activity may affect in some substantial way the validity of the great majority of mortgages issued over the past 20-years throughout the country, whether the loan payments are current or delinquent! 

 THE NATIONAL MORTGAGE CRISIS:

As I have been repeating all along,  there are no good guys. The Felons are across the board.

Now, what I've been saying for years about government knowledge, complicity and ensuing conflict of interest involving fraud, no agency is sterilel.

"The Wall Street investment banks, beginning in the late 1980s, initiated and bought millions of home mortgage loans to be repackaged as Mortgage Backed Securities (MBS) and sold to investors across the country and the world.

In order to have their investment offerings certified as safe by the investment ratings agencies, the Wall Street banks used almost exclusively Fannie Mae/Freddie Mac qualified mortgages on the assumption such loans have already undergone a serious scrutiny under federal regulations.

In reality, the two quasi-government agencies did little to oversee the quality of the of the mortgage loans they were qualifying, buying and selling.

The MBS marketing effort worked. The ratings agencies, paid huge fees solely by the investment banks, certified the Wall Street MBS offerings as mostly prime-grade investments. Congress, Fannie Mae and the Security and Exchange Commission greatly encouraged the MBS trade. 

Now, millions upon millions of these same mortgage loans are delinquent, some for longer than two years. Millionsupon millions more American households still paying their mortgage have a property that is worth far less now than the mortgage loan balance.

It has been discovered that most of the loans in the Wall Street MBS packages and those held by Fannie Mae/Freddie Mac, in fact, did not meet federal regulatory standards, not even close.

Just about every player in the realestate industry had a large hand in this fraud: mortgage lenders, banks, sellers, buyers, brokers, appraisers, lawyers, middlemen, federal and state agencies, Congress and the last five Presidents.

The result is a home foreclosure rate that is unheard of already and looking likely to accelerate .

But the same Wall Street banks that bought off the ratings agencies and the government in order to cheat their customers and got away with it, could not stop themselves from also committing massive tax evasion and the blatant violation of state laws across the nation with almost all of their MBS offerings. This is the fraud that might place the majority of Alaska homeownership titles into serious question".

                                                  ####

The way it works, the Internal Revenue Service looks the other way while these frauds start tranferring your "loan" (which you made credible through your signature on the promissory note', from fraudulent mortgage schemer to fraudulent mortgage schemer, and the courts almost routinely rubber stamp these fraud factories because they're in bed with the thieves. Many of them share in the ownership and investment towards these so-called "securitized loans". 

What they really mean is "claim jumping' of mortgage loans. You sign the papers and multiple beneficiaries get

a full check while you get the debt. It's not your monthly mortgage payment that determines this; it is your annual percentage rate of interest, which is much higher. As a result, a $112,000 loan, such as that of my spouse and I, can skyrocket from that sale price to five times as much. Over the life of the loan, you'll pay enough to make threemillionaires, as did we. Read on.....the full mess...

file://localhost/Users/mary/Downloads/NATIONAL%20MORTGAGE%20CRISIS.html 

The Problems

 

 

Wake Up America! Tommy sums it up for you! 

The elephant in the room is that what we’re facing in this country today is not just a foreclosure crisis, what we’re dealing with with is much better described as a

FRAUDclosure crisis. 

http://timothymccandless.wordpress.com/

Homeowners, Listen Up. We can't afford Barack Obama, nor any of the candiates for President.

Growth of Income Inequality Is Worse Under Obama than Bush

Matt Stoller is a fellow at the Roosevelt Institute. You can follow him on twitter at http://www.twitter.com/matthewstoller Yesterday, the President gave a speech in which he demanded that Congress raise taxes on millionaires, as a way to somewhat recalibrate the nation’s wealth distribution. His advisors, like Gene Sperling, are giving speeches talking about the need for manufacturing.

A common question in DC is whether this populist pose will help him win the election. Perhaps it will.

Perhaps not. Romney is a weak candidate, cartoonishly wealthy and from what I’ve seen, pretty inept. But on policy, there’s a more interesting question.

A better puzzle to wrestle with is why President Obama is able to continue to speak as if his administration has not presided over a significant expansion of income redistribution upward.

The data on inequality shows that his policies are not incrementally better than those of his predecessor, or that we’re making progress too slowly, as liberal Democrats like to argue.

It doesn’t even show that the outcome is the same as Bush’s. No, look at this table, from Emmanuel Saez (h/t Ian Welsh). Check out those two red circles I added.

shows comparison chart

Yup, under Bush, the 1% captured a disproportionate share of the income gains from the Bush boom of 2002-2007. They got 65 cents of every dollar created in that boom, up 20 cents from when Clinton was President. Under Obama, the 1% got 93 cents of every dollar created in that boom. That’s not only more than under Bush, up 28 cents. In the transition from Bush to Obama, inequality got worse, faster, than under the transition from Clinton to Bush. Obama accelerated the growth of inequality. The data set is excellent, it’s from the IRS and it’s extremely detailed. This yawing gap of inequality isn’t an accident, and it’s not just because of Republicans. It’s a set of policy choices, as Saez makes clear in his paper. Looking further ahead, based on the US historical record, falls in income concentration due to economic downturns are temporary unless drastic regulation and tax policy changes are implemented and prevent income concentration from bouncing back. Such policy changes took place after the Great Depression during the New Deal and permanently reduced income concentration until the 1970s.

Even worse, not one politician has proved to be a breath of fresh airin this host's book. Isn 't it about time you stopped being a shrinking violet, waiting for lawyers to rescue us from criminal lenders and servicers. It is time to junk thelending process and remove the "regulators". All of them who are complicit need to go to Jail! How to make it happen? Read on.......

Barack Obama, unlike Bush, Clinton, or George Senior, is weak, spineless. He cons Blacks into thinking he's one of

of us.....and he takes out any negative actions on Blacks first and foremost. Then, when he does address us, we keep hearing about how we have to be accountable, stay out of trouble, strive to get better. We've been getting that father-to-child lecture all the way back to the Civil Rights Movement and beyond. Always someone who either pretends to be Black, or who plays the good guy until the time comes to put up or shut up. Want more....consider this:

FOR IMMEDIATE RELEASE: Thursday, April 12 CONTACT: Rachel Tardiff, rachel@fitzgibbonmedia.com,

202-746-1507 REPORT: TAX HAVEN ABUSE BY U.S. CORPORATIONS SHORTS U.S. TREASURY OF

REVENUES TO TUNE OF $2,116 FOR EVERY SMALL BUSINESS IN AMERICA Main Street Alliance joins U.S.

PIRG, Rep. Van Hollen, Business for Shared Prosperity to release report highlighting cost of tax haven abuse to

small businesses

“When big corporations use loopholes and tax havens to avoid paying taxes, they’re robbing our country of the revenues we need to invest in our future and support small businesses,” said Aimee McQuilkin, owner of Betty’s Divine, an independent clothing boutique in Missoula, Montana and a leader with the Montana Small Business Alliance and Main Street Alliance. “If you want to fly the American flag outside your corporate headquarters, you should pay your way.”

We have plenty of class actions across the nation....but the class actions are not universal. "Attorneys are repre-

senting different homeowners in various class actions. What I say is that all of these classes should merge, and

call for more than just an even break. Let's break the bank, demand our homes back, and the years of damages

built up by fraudulent mortgage companies.

http://us.mg4.mail.yahoo.com/neo/launch

Politicians are slaves to fundraising and campaign financing. If you truly believe that your ballot being cast

makes a difference, then you're asleep at the wheel; you've got the brains of a church mouse. Anyone who can

name one positive difference Barack Obama has made for middle class, low income, disabled people or seniors, 

I'm all ears. This is not a referendum on Obama, mind you, as his partner in crime, Dianne Feinstein, Nancy Pelosi,

and all the other fakes in congress, are as bad if not worse. Black folks who  refuse to believe Obama is a fraud,

don't care; they're just happy to have a President they may call Black, even though he isn't. 

The hits against us just keep on coming. Until we take matters into our hands. I'm not about to wait for others to

act, as I have been doing so far years. First, as a consumer investigator, then as a journlist, reporter and talk-show

host, and now, as host of "www.harperenterprize.com". On my "Special Reports page, you'll find more about frauds

and foreclosures. Just remember. Behind all the recent foreclosures is Obama.

 

 

 

 

Multi-Billion-Dollar Class Action Suits Filed Against Lender Processing Services for Illegal Fee Sharing, Document Fabrication; Prommis Solutions Also Multi-Billion-Dollar Class Action Suits Filed Against Lender Processing Services for Illegal Fee Sharing, Document Fabrication; Prommis Solutions Also Targeted

Welcome to our new readers from the FCIC. Lender Processing Services, a crucial player in the residential mortgage servicing arena, has been hit with two suits seeking national class action status (see here and here for the court filings). If the plaintiffs prevail, the disgorgement of fees by LPS could easily run into the billions of dollars (we have received a more precise estimate from plaintiffs’ counsel). To give a sense of proportion, LPS’s 2009 revenues were $2.4 billion and its net income that year was $276 million. These suits, one of which was filed late last week, the other Monday, appear to be the proximate cause for the sharp drop in LPS stock, which fell 5% on Friday and 8% Monday (trading was halted just prior to the close of the trading day). Those close to the foreclosure process have lodged many complaints against LPS. But the two suits we highlight here level the most serious and wideranging allegations thus far.

 

 

Rebellion: Could 62 Million Homes Be Foreclosure-Proof?

Hi Wendell, I just read a very good news article about the financial juggling that helped cause the 2008 crisis may be coming back to haunt banks--and help homeowners. "Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the convenience of the mortgage industry."

A California bankruptcy court, following landmark cases in other jurisdictions, recently held that this electronic shortcut makes it impossible for banks to establish their ownership of property titles--and therefore to foreclose on mortgaged properties. The logical result could be 62 million homes that are foreclosure-proof. Read the full story from this link... http://www.yesmagazine.org/new-economy/homeowners-rebellion-could-62-million-homes-be-foreclosure-proof

Informal Dispute resolution leads to conflict of interest. 

The biggest gangsters? Federal Regulators!

 

They're joined at the hip with the frauds of the private sector, specifically the mortgage machine. . They're the Hidden Owners of foreclosed homes, buying the homes we lose, and selling them back

to us!

 


to    

 

 


 


 

These are the foundation perpetuators of Economic trauma

Insight:The Wall Street gold rush in foreclosed homes

Host: So it's the Federal Government that makes deals with lenders to steal our homes. Then....they allow these guys to not pay the taxes or to report the money they make from excessive fees, interest rates, prepayment riders, an unlawful prepayment penalty and a host of other loan-sharking adventures. These guys are as bad, if not much worse, than any broker, lender or loan shark. From congress on down, these guys should be in prison. We should be clamoring for their political heads, their titles, salaries, jobs. These folks should be fired, unemployed, and not allowed to claim benefits. It 's clear now to me, exactly why the Internal Revenue Service, The Federal Trade Commission, The SEC and The Federal Reserve, look the other way when these thieves are at work, and they focus only on the victims to harass, intimdate and to steal from them. Thievery, fraud, etc.


"Critics, meanwhile, contend the federal government is fostering a transfer of wealth of sorts by selling big pools of foreclosed homes to big fund investors and high-net-worth individuals. There's also concern that some of the players who helped create the housing crisis will now benefit by buying foreclosed homes at a steep discount. Between them, Fannie and Freddie Mac own more than 200,000 foreclosed homes.

The nation's banks own more than 600,000 single-family homes, according to RealtyTrac, a housing tracking service. Housing experts expect the foreclosure machinery to crank up again now that regulators and banks have agreed to a $25 billion settlement to deal with earlier foreclosure abuses. Some of the high-profile institutional investors who are committing money to buying foreclosed homes - or seriously considering jumping in - include private equity firm TPG Capital, investment firm Oaktree Capital Management, Warren Buffett's Berkshire Hathaway Inc., Starwood Capital, Och-Ziff Capital Management and bond fund manager TCW, say people familiar with the fast-growing market.

PILOT PROJECT

The Federal Housing Finance Agency, which regulates Fannie and Freddie Mac, expects it will receive a considerable number of bids in April for the initial round of 2,500 Fannie-owned homes in cities like Atlanta, Chicago, Los Angeles and Phoenix. "This is really a test and we don't know what the results will be," says Meg Burns, senior associate director for housing and regulatory policy for the FHFA. "But the beauty of this pilot is we are going out with properties that are largely rented already, so people know what the cash flows look like and we know it is far preferable to have people living in the homes rather than the properties sitting vacant." In August, when the FHFA first announced its intention to conduct bulk sales for Fannie and Freddie properties, it received expressions of interest from more than 4,000 investor groups, not-for-profits and other organizations.

If the pilot is successful, the FHFA is also considering selling off pools of distressed mortgages held by Fannie and Freddie, according to people familiar with discussions about that. On the Internet, the gold rush mentality clearly has taken hold with some small investment firms. Wong Diversified International Investments of Austin, Texas, for example, offers a fund to invest in foreclosed homes, boasting on its website that it is pursuing the Fannie bulk sale. "It is clearly over-hyped, but I think this is real and it's going to happen," said Magder, who about a week ago left Lone Star, where he had focused on distressed banks and financial services firms. "There is definitely room for people who have a well-thought-out operational plan and are careful about putting the pieces together." Magder has formed Rock Creek Capital Group, based in Washington, D.C., and intends to raise money from investors and submit a bid for some of the foreclosed homes Fannie is selling in Los Angeles and Phoenix and across Florida. RETURN ON INVESTMENT One of the most bullish investors is Carrington Capital Management, which has teamed up with Los Angeles-based OakTree Capital. They have created a $450 million fund to buy foreclosed homes in bulk and rent them out. In a marketing document for one of its funds, Carrington claims that without using leverage or borrowed money it can generate an annual yield of 7 percent from rental income alone. Its long-term strategy is to package the fund into a publicly traded real estate investment trust. If that strategy is successful, Carrington projects investors can see an internal rate of return of 25 percent over three years.

Rick Sharga, an executive vice president with Carrington, says the firm is optimistic that if the Fannie auction attracts a lot of bidders, then banks will begin holding their own bulk sales of foreclosed homes. Other investors looking at the foreclosed home market say Carrington's projections seem too rosy and they are projecting a return on investment of between 8 percent and 15 percent. That said, in an environment where U.S. Treasuries are yielding less than 2.5 percent on a 10-year Treasury note, those kind of returns are piquing the interest of wealthy individuals. Miami-based Carlos Guajardo, who is considering bidding for some of the Fannie properties being sold in bulk in Florida, says he is seeking to raise about $50 million, largely from wealthy individuals and small family offices. To date, his firm Maynada Capital Advisors has acquired about 70 foreclosed homes in southeast Florida, which he has fixed up and is in the process of renting out. In Las Vegas, Laus Abdo is doing something similar and he's trying to expand his potential reach by partnering with a hedge fund or private equity firm to back him. "I think the majority of your return in this portfolio comes in the form of cash flow from renting, not capital appreciation, unless you buy properties at a huge discount," says Abdo, executive director at TriArchic Advisors, a Las Vegas-based real estate advisory and management firm. Even as some investors are getting into the market, others are looking at getting out because they fear the presence of big institutional players will drive up prices.

New York hedge fund manager Jason Ader says he and a business partner in Phoenix are looking at selling someof the more than 100 homes they acquired at foreclosure auctions over the past year. Ader, founder of Ader Investment Management, said the market in Phoenix for foreclosed homes began getting more competitive this year. He expects institutional money will start to crowd out smaller investors bidding for the Fannie properties. PR NIGHTMARE Some hedge fund managers say they're staying out of the market largely for fear of getting vilified as being a bad landlord if the need comes to evict a tenant. One manager who did not want to be identified said while there's a lot of money to be made from investing in foreclosed homes, "it is a potential PR nightmare."

In February, Phil Angelides, the former chairman of a federal commission set up to look into the causes of the financial crisis, stepped down as executive chairman of Mortgage Resolution Partners one month after Reuters reported on his involvement in the company which aimed to turn a profit from buying distressed mortgages. Angelides' involvement had drawn scrutiny on Capitol Hill, where one congressman sent a letter warning about potential political influence peddling. Already, some liberal economists are questioning the wisdom of the federal government pushing to sell homes owned by Fannie and Freddie to institutional investors at a potential 20-30 percent discount to prevailing market price. "This is actually moving the underlying physical assets, or homes, to the top 1 percent," says L. Randall Wray, a professor of economics at the University of Missouri-Kansas City and a senior scholar with Bard College's Levy Economics Institute. Laus, the Las Vegas housing entrepreneur, says there could be a "potential backlash" if some of the buyers are subsidiaries of the big banks that got bailed out by the federal government. But many more public policy experts say the bulk sales by the government are worth trying, given the huge stockpile of foreclosed homes controlled by Fannie and Freddie. "We have a shortage of rental housing already and I think this is a win-win situation," says Kenneth Rosen, chairman of Rosen Consulting Group, which advises on urban planning and real estate management. In February, Rosen co-authored a report with mortgage-backed securities guru Lewis Ranieri, which advocated the need for a private sector solution to the foreclosure crisis.

A Ranieri-backed hedge fund, Selene Finance, has been investing in distressed mortgages for the past few years and is now eyeing foreclosed homes. "I don't think the money to do this is the problem," says Rosen. "It's the execution." (Reporting By Matthew Goldstein and Jennifer Ablan; Editing by Claudia Parsons) Money Housing Market Special Reports Related Quotes and News Company Price Related News Berkshire Hathaway IncBRKa.N $122,130.00 +651.00+0.54% BRIEF-Moody's affirms Berkshire Hathaway's senior debt rating at Aa2 Lawsuit against Berkshire over Sokol affair dismissed More BRKa.N News » Och-Ziff Capital Management Group LLCOZM.N $9.55 +0.07+0.74% Och-Ziff profit off as performance fees shrunk Ex-Morgan Stanley property exec Fancy sets up S'pore firm More OZM.N News » Tweet this Link this Share this Digg this Email Reprints After reading this article, people also read: Home sales show strength, prices riseMar 21, 2012 Buffett millionaires tax to raise $47 billion: reportMar 21, 2012 Analysis: Turning point in the currency warMar 21, 2012 Wall Street mostly slips, but tech keeps S&P near 4-year highsMar 21, 2012 Bernanke says gold standard wouldn't solve problemsMar 20, 2012 Sponsored links by Taboola Videos you may like: Large housing inventory suggests more downside i…Wed, Mar 21 2012 Wall St. spooked by China forecastMon, Mar 05 2012 Stock market forecasts for 2012Sat, Dec 31 2011 From around the web: First-time homebuying regrets (Bankrate.com) 10 U.S. Cities With the Cheapest Cost of Living (Kiplinger) Buy or Rent? You'd Be Surprised (Daily Finance) [?] We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters.

For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (2) Harry079 wrote:

“They have created a $450 million fund to buy foreclosed homes in bulk and rent them out.” Carrington Capital Management is just one of many investor groups that are “Carpet Bagging” the property of millions of families that lost their homes due to what investor groups and banks were doing that caused the crisis in the first place. Bank “A” packages and sells subprime mortgages to investor groups and then places their bets(hedges) against the mortgage packages. The investor groups buy insurance(CDS)to protect their investments that they bought from Bank “A”. When the crisis hits Bank “A” wins because they placed their bets against the mortgages they sold. The investor groups wins because they had insurance on the motgages they bought from Bank “A”. Mar 21, 2012 11:05am EDT -- Report as abuse Josorr wrote: This looks like a case of the wise and greedy (wealthy, heartless and educated with an eye on the future) taking advantage of the stupid and shortsighted (homebuyers during the housing boom who signed adjustable rate mortgages without first reading the fine print or considering a worse case scenario). This sort of thing has been going on forever, and it will continue to go on.

Our only defense is to NOT BE STUPID. You can say “shame on the rich for being greedy and heartless” or “shame on the foreclosed for being shortsighted and stupid.” It works both ways. In the middle are those of us who are not stupid enough to sign a variable interest rate mortgage that could become beyond our means to pay and not rich enough to take advantage of the stupidity of those who did. Mar 21, 2012 12:10pm EDT -- Report as abuse See All Comments » Add Your Comment Ads by Marchex Image Ad RBCC is Through The Roof! Signed Deal with n3D Sets RBCC to Go Global, Buy Your Shares Today! www.TopMicroCapStock.com Image Ad I Wish I Were Wrong, But . . . Prophetic Economist Laments His Eerie Predictions for 2012. See Shocking Video www.newsmax.com Image Ad 7% Annual Annuity Return Get guaranteed lifetime income and reduced risks to retirees all here. AdvisorWorld.com/CompareAnnuities Image Ad Financial Planning Advice Find A CFP® Professional To Help You Prepare For Your Future. letsmakeaplan.org More From Reuters Soldier in Afghan killings charged with 17 counts of murder KABUL - A U.S. Army staff sergeant was charged on Friday with 17 counts of premeditated murder and six counts of attempted murder over a shooting spree in the southern Afghan province of Kandahar, U.S. military forces in Afghanistan said in a statement.

 

 

Shouldn't legislators who voted for "TARP" be jailed? I say YES

The "Hit Men" of the Mortgage Syndication:

"Together with having to cover the credit default swaps sold with those mortgage backed securities, it is estimated that the swindle has cost the nation $27 trillion, at least $16 trillion admitted to by the Federal Reserve in "loans" and "bailouts" (actually buy-backs) from foreign investors such as Credit Suisse, Deutchebank, the Bank of Libya (boy, did THEY get hosed; 98% of their sovereign wealth fund destroyed by Goldman Sachs aka Gold In My Sacks!), etc. Globalism took a major swindle in the US financial system and turned it into a global cataclysm from which we are all still reeling".

 

"The whole scam started to unravel in 2008 and here is where things took a dark turn. Because Congress had their own fortunes invested in the companies at the heart of the fraud, Congress decided to prop up the scam with taxpayer money and block any efforts to investigate or prosecute. That is why TARP was passed by the Congress despite 90% popular opposition. Congress were saving themselves at the expense of the taxpayers. The phrase "toxic asset" was DC-speak for the fraudulent mortgages backed securities, which were being repurchased in order to avoid investors seeking to jail the Wall Street criminals, which would have brought all of Wall Street down. Despite claims that the US taxpayer would be refunded when the "Toxic Assets" were resold at some point in the future, the reality is that none of those assets will ever see a penny of repayment, because they are all the product of the biggest financial swindle in history. Bigger than Tulip mania. Bigger than the Great South Seas Company disaster".

Mortgage Servicing Fraud A relatively new term, but rapidly becoming standard, Mortgage Servicing Fraud refers to a variety of abusive servicing practices that may occur individually or collectively to a loan after it has closed. Mortgage servicers are usually a third-party company hired/contracted by the lender/note holder to perform the day-to-day tasks associated with collecting loan payments. Some of these practices include, but are not limited to:

"Many people wonder why would a bank do this to a borrower? The first thing you have to understand is that it's NOT a bank/lender doing this to the borrower, it's the entity they have hired/contracted to service the loans. However, in some cases, the bank/lender literally paves the way for the servicer to conduct business in this manner. At the very least there is no excuse for the bank/lender to allow the servicer to harm the borrower, which many have done over the years. There are many resources for the bank/lender to avail themselves of to make sure they are not hiring a bad/crooked/troubled servicer to handle their loans".

What we are really affrming is that Banks have created a profit-making, tax evading, safe haven for screwing homeowners who are too inexperienced, legally astute, or just plain stupid, to realize that these services have no legal standing; and, even the banks they represent probably don't own the property they're "servicing". Regulatory agencies are the olive oil that greases their skillet. The IRS lets these frauds write off your foreclosed home, after selling the home illegally, and then pursuing you in court for the "balance" of what you don't owe. Let the Treasury tell it, the credibility of these frauds is golden. What's golden, is how the lies light up lately, each time a servicer tells one. 

"Unfortunately, usually no amount of arguing with the servicing company results in a positive outcome. Getting a servicer to admit making such a mistake may reveal that this is a standard operating procedure, and these companies do not want to be caught in a court of law stealing homes to maximize profits. Typically, they will deny, threaten, or stonewall homeowners to avoid dealing directly with the charges on the loan. Even more unfortunate is that many local court judges go along with the servicer, because the borrowers are behind in payments, after all. This is what makes the scam so devious -- the company will add thousands of dollars of fees, but not act on it until the borrowers miss a payment. When they fall behind a few months, the thousands of dollars of fees, plus interest, plus foreclosure costs will immediately make it prohibitively expensive to get back on track or qualify for a mortgage modification or other solution". Article Source: http://EzineArticles.com/1388666

 

 

I finally figured out how they do it Special Report Will the Government Regulators Let Them Get away with this latest fraud Swindle? Trading places to avoid paying taxes and reporting mortgage loan income.....read on.. 

You Bet, If We let these "Regulators" get away with it!

Lenders have swindled homeowners out of their homes, and are in the process of  pi,[omg up the volume. All this as dimwit lawyers file worthless class action suits which take forever, in order to gain a loan modification, a financial trap in itself!

Morgan Stanley Will Sell Saxon Mortgage-Servicing Unit to Ocwen Financial

BankOwnedForclosureHomeSaleMortgage.jpgMorgan Stanley said late Monday it would sell its Saxon Mortgage Services Inc. unit to Ocwen Financial Corp. for $59.3 million as the investment bank continues its retreat from the mortgage business. Terms of the transaction call for Atlanta-based Ocwen, a large servicing firm, also to provide about $1.4 billion for servicing advance receivables outstanding. Ocwen said the deal includes $26.6 billion in servicing rights, of which it already has subcontracts to service about $10.9 billion. Morgan Stanley bought the operation in August 2006 for $706 million in a bid to broaden its mortgage business.

The purchase looked like a bargain at the time. Saxon, like many lenders, had been battered by rising interest rates and the purchase price was 40% below Glen Allen, Va.-based Saxon's 2004 initial public offering price. But the unit has been plagued by complaints during the recession, with Saxon named in allegations concerning lenders foreclosing on military personnel serving in the Middle East and mentioned in lawsuits involving mortgage fraud. Morgan Stanley said it expects the deal to close in the first quarter and not to have a material impact on financial results. Read more: Morgan Stanley sells Saxon to Ocwen - The Deal  http://www.thedeal.com/content/restructuring/morgan-stanley-sells-saxon-to-ocwen-1.php#ixzz1phn3T8ik

 

 


 http://www.rollingstone.com/politics/news/why-isnt-wall-street-in-jail-20110216?print=true

Why Isn't Wall Street in Jail?

Financial crooks brought down the world's economy — but the feds are doing more to protect them than to prosecute them by: Matt Taibbi

Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer. "Everything's fucked up, and nobody goes to jail," he said. "That's your whole story right there. Hell, you don't even have to write the rest of it. Just write that." I put down my notebook. "Just that?" "That's right," he said, signaling to the waitress for the check. "Everything's fucked up, and nobody goes to jail. You can end the piece right there." Nobody goes to jail. This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world's wealth — and nobody went to jail. Nobody, that is, except Bernie Madoff, a flamboyant and pathological celebrity con artist, whose victims happened to be other rich and famous people.

 

 

Most Homeowners Never Learn a Damn Thing! We have a foolproof method of keeping our homes and forcing the lender to pay for it, if we refinanced our home or took out a loan. Pay Attention: You can  write off your loan, and get the lender sued and/or prosecuted at the same time! 

4 Tax Benefits of a Mortgage Refinance

 By: JR Hevron - MortgageLoan.com

Planning to refinance your mortgage in the upcoming year? Be sure to schedule some big savings when it comes time to do your 2011 taxes. When most homeowners consider the savings that will result from a mortgage refinance, they don’t take into account the tax savings. They usually just figure out the “break even” point, or the number of months that it will take for the monthly savings to add up to the cost of the refinance. While figuring out the “break even” point can give you a good, general idea of whether a refinance is worth it to you, it’s not the whole picture.

Potential refinancers seem to stick to that calculation because it’s relatively easy math to do. Determining the tax benefits of a refinance is much trickier—and may require the help of an accountant—but just as important, if not more. Here are four ways that your taxes can benefit from a refinance: 1.) General tax benefits With a refinance, you are generally going to be able to deduct more money off of your taxes right off the bat. As you probably know, for the most part, mortgage interest is completely tax deductible. At the beginning of a mortgage, you are paying more for the interest than you are for the principal. With a refinance you will automatically have a lower tax liability—the amount that you owe— because it is a new loan and you will be paying more interest in those first years. 2.) Home Acquisition Debt: When refinancing your mortgage, there are two kinds of debt that you can acquire as far as the IRS is concerned. The first is home acquisition debt, which is the amount that is used to pay off your old mortgage. For the most part, homeowners are allowed to deduct any interest paid towards this home acquisition debt. 3.) Home Equity Debt: In the eyes of the IRS, the second type of debt that you can rack up in a refinance is home equity debt. This is the amount of your loan that is in excess of what was necessary to pay off your old mortgage. Interest on home equity debt is generally only deductible for the first $100,000 if it is for credit card debt, purchases, or a vacation and up to $1million if it is used for home renovations. 4.) Points: You were probably able to deduct the money that you spent on points from your first mortgage. Deducting the cost of points for a refinance is trickier. Instead of deducting all of the cost of points at once, you have to spread out the deductions out over the life of the loan. So, if you have a 20-year mortgage, you can only deduct 1/20th of the cost of the points per year. That is, unless you sell or refinance again, at which point you will be able to fully take advantage of the unused fraction of points. A mortgage refinance can have a big influence on your finances, especially on your taxes. If you are considering going through the refinance process, be sure to stop by your accountant’s office before you get started to figure out the best way to take advantage of the tax benefits available to you.

They're Playing Poker with our pensions: Mortgage backed securities bought and sold with your savings! WAKE UP STUPID!

 "The American media has been remiss (intentionally) in reporting on the mortgage-backed securities fraud, even though it is the initiating event in the economic disaster which continues to engulf the world. But while the government can pretend none of this ever happened, the civil suits will drag the scandal into the public eye, and well it should! For the newer readers, here is a summary of how DC and Wall Street got us all into this mess".

file:///Users/mary/Downloads/MORTGAGE-BACKED%20SECURITES%20FRAUD%204%20DUMMIES!%20(aka%20the%20Cliff%20Notes%20version)%20%20%20WHAT%20REALLY%20HAPPENED.html

 

 

$865 billion in state pension fund losses are resulting in reduced benefits for new hires

Because state governments have accrued about $865.1 billion in state pension fund losses, new hires are ending up with reduced benefits. The losses not only exceed the $700 billion Troubled Asset Relief Program that Congress approved last year, but they are accompanied by $42 billion in state budget deficits. In a letter to US Treasury Secretary Henry Paulson, the mayors of Atlanta, Philadelphia, and Phoenix asked for help for their financially beleaguered cities and noted growing pension costs and investment ...........www.stockbrokerfraudblog.com

 

 

 

I warned you, but you didn't listen...But Alas, you can get a reprieve......or so says "Right to Cancel":

Privacy Policy

Mortgage Fraud

Learn How You Can Stop Foreclosure And Mortgage Fraud! Creating a legal document is a must if someone is a victim of foreclosure fraud or struggling with mortgage litigation against a lender or bank. Did you know that you can fight back against foreclosure and predatorylending by challenging your bank by simply asking them questions about your home loan, which they are required to answer?

lf From Mortgage Fraud Mortgage Fraud If you have previously been a victim of mortgage fraud and are seeking refuge or simply want to protect yourself from any potential damage, you are on the right path. Realization of the extensive damage mortgage fraud can cause and the will to take steps against it, whether alone or with the help of law, [...]

 

Structural causes of the global financial crisis: a critical assessment of the ‘new financial architecture’ Abstract

Global Financial Crisis Financial Crisis –

The Global Aspects A serious economic crisis, huge national debts, announcement of bankruptcy, collapse of the strongest world economy, natural disasters, forecasts of weakening and abolition of national currencies – the world’s currency, only is the harsh reality of today’s global economy. Sitting quietly, be hesitant, waiting for someone else to solve our financial problems, is not a good choice. What is happening to us today and what will happen to us tomorrow, OUR DECISION AND OUR CHOICE

We are in the midst of the worst financial crisis since the Great Depression. This crisis is the latest phase of the evolution of financial markets under the radical financial deregulation process that began in the late 1970s.

This evolution has taken the form of cycles in which deregulation accompanied by rapid financial innovation stimulates powerful financial booms that end in crises. Governments respond to crises with bailouts that allow new expansions to begin. As a result, financial markets have become ever larger and financial crises have become more threatening to society, which forces governments to enact ever larger bailouts. This process culminated in the current global financial crisis, which is so deeply rooted that even unprecedented interventions by affected governments have, thus far, failed to contain it. In this paper we analyse the structural flaws in the financial system that helped bring on the current crisis and discuss prospects for financial reform.

Report

The Commission's final report was initially due to Congress on December 15, 2010, but was not released until January 27, 2011.[10] The Commission concluded that "the crisis was avoidable and was caused by:

Widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages; Dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; An explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; Key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels.“[4][11] A dissent by Peter Wallison of the American Enterprise Institute claimed that the crisis was caused by government affordable housing policies rather than market forces. However, Wallison's views have not been supported by subsequent detailed analyses of mortgage market data.[12]

 

Car Title Held Hostage?

Car Title Lenders are not Prosecute proof. They can commit fraud just the same as mortgage lenders. They too, have to be truthful about their contracts. Remember, the lender has to give you a contract. When they do, you can figure out yourself how much you owe by totaling all the payments. When the contract is agreed upon, the lender is just as obligated as are you. Not abiding by the terms of the contract, or using any terms they please is bull shit, and anyone who says so has a lender's lips. 

 

 

This legislator at least appears to get the gravity of the fraud that these out of contro,l double-talking liars, even it is in Texas.

Tarrant lawmaker submits legislation on payday, title loans

By Dave Montgomery dmontgomery@star-telegram.com Davis targets legalized 'loan-sharking' in Texas Related story PoliTex blog: From North Texas to D.C., our insiders take you beyond the usual rhetoric More Texas Legislature news

AUSTIN The chairwoman of the House Pensions, Investments and Financial Services Committee says she is entering the legislative dispute over payday lenders in an effort to seek a middle ground that will preserve the industry while driving out "bad actors" who prey on consumers. Read more here: http://www.star-telegram.com/2011/03/09/2907524/tarrant-lawmaker-submits-legislation.html#storylink=cpy

They don't have to tell you how much you'll owe. Your contract with them has to make sense. Many articles you read would have us believe that no law prevents high interest rates, which might be true. What they do prevent is extortion, or the abuse of your privilege as a lender. Noone has to right to lie, cheat, steal, misrepresent or to defraud. Anyone who says otherwise should be investigated right along with them and prosecuted.

State Regulation of Car Title Lending In 2011,

a federal regulator will be created with jurisdiction over car title loans. Meanwhile, it is up to the states to regulate them. High-priced title loans are illegal in more than half of the states. In victories for consumers in 2008, New Hampshire capped car title loans at 36% APR, and Iowa closed loopholes to cap car title loan rates at 35% or less. Oregon has also lowered the maximum allowable cost of a car title loan. In 2007 lenders were banned from making car title loans or any other loans with APRs greater than 36% to members of the military and their families.

On the other hand, car title lenders are generous campaign contributors, and industry-friendly laws have been adopted in some states. Car title lending companies have grown rapidly over the last several years in states that do not protect consumers. For example, there are over 900 storefronts in Alabama, over 272 in Mississippi, over 230 in Missouri, 150 in Virginia, and 111 in just one county in Tennessee. Even worse, in states where car title lending is illegal, title lenders have sought to hide the true nature of their products in order to exploit loopholes in existing laws – pretending, for example, that their abusive loans are “sales and leasebacks,” “pawns,” or “motor vehicle equity lines of credit.”

Legislators who block bills designed to control these ambiguous mothers should be investigated for connection to lenders, to see if they're receiving campaign money, kickbacks, or have an interest in such businesses. We will force these regulatory agencies to take a hard stance against frauds, who think they can set their own rules. If those designed to regulate, fail to do so, their jobs and titles should be deleted, just like that. What do we need with legislators who pass bills that are never enforced, or who lets the tail wag the dog(regulators running amuck without checks and balances).

If we start dismantling agencies that can't justify their budgets, at the very least, more money will be the subject of debate. But don't listen to this online propaganda about how these guys can do just about anything. Yes they can if you let them. No they can't if you keep applying the pressure. Really, what choice have we but to make the pay

Tuesday, February 21, 2012 Looking for Someone to Blame? Congress is a Good Place to Start

While we here are committed to exposing the actions of Goldman Sachs - many of which helped, if not directly, created our economic problems - we often over look and under report on those who have and had the power to prevent the actions of Goldman Sachs and their band of merry banksters (including The Fed). Charlie Reese says it in plain and simple language. A report that he began in the 1980's and modified several times. The version below was the one from 1995, long before anyone could have ever imagined the mess we would be in at the beginning of the 21st century. In the midst of this political year and all the BS we are hearing from all candidates and would be candidates, "We, The People" need to read Charlies column and make our decisions based on the knowledge he reminds us of. Pass this one around. The country needs this reminder reminding us that we have the power by our vote to right the wrongs.

Journalist Charley Reese (now retired) was part of the Orlando Sentinels staff for three decades between 1970-2001, during which time he (among other duties) penned a thrice=weekly column which was distributed to other newspapers nationwide by King Features Syndicate. During the 1980’s Reese wrote the first version of an editorial opining that 545 people (i.e., the President of the United States, plus all the members of Congress and the Supreme Court) “are directly, legally, morally and individually responsible for the domestic problems that plague this country,” and he has amended, updated and republished that piece several times since then. The version cited below is taken from the 7 March, 1995 edition of the Orlando Sentinel, where it ran under the title “Looking for Someone to Blame? Congress is a Good Place to Start.”

The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes. Who is the speaker of the House now? He is the leader of the majority party. He and fellow House members, not the President, can approve any budget they want. If the President vetoes it, they can pass it over his veto if they agree to. It seems inconceivable to me that a nation of 300 million cannot replace 545 people who stand convicted -- by present facts -- of incompetence and irresponsibility. I can't think of a single domestic problem that is not traceable directly to those 545 people. When you fully grasp the plain truth that 545 people exercise the power of the federal government, then it must follow that what exists is what they want to exist. If the tax code is unfair, it's because they want it unfair. If the budget is in the red, it's because they want it in the red. If the Army & Marines are in Iraq and Afghanistan it's because they want them in Iraq and Afghanistan ... If they do not receive social security but are on an elite retirement plan not available to the people, it's because they want it that way. There are no insoluble government problems.

Do not let these 545 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like "the economy," "inflation," or "politics" that prevent them from doing what they take an oath to do. Those 545 people, and they alone, are responsible. They, and they alone, have the power. They, and they alone, should be held accountable by the people who are their bosses. Provided the voters have the gumption to manage their own employees... We should vote all of them out of office and clean up their mess! What you do with this article now that you have read it... is up to you.

This might be funny if it weren't so true. Be sure to read all the way to the end:

Tax his land, Tax his bed, Tax the table, At which he's fed.

Tax his tractor, Tax his mule, Teach him taxes Are the rule.

Tax his work, Tax his pay, He works for peanuts anyway!

Tax his cow, Tax his goat, Tax his pants, Tax his coat.

Tax his ties, Tax his shirt, Tax his work, Tax his dirt.

Tax his tobacco, Tax his drink, Tax him if he Tries to think.

Tax his cigars, Tax his beers, If he cries Tax his tears.

Tax his car, Tax his gas, Find other ways To tax his ass.

Tax all he has Then let him know That you won't be done Till he has no dough.

When he screams and hollers; Then tax him some more, Tax him till He's good and sore.

Then tax his coffin, Tax his grave, Tax the sod in Which he's laid... Put these words Upon his tomb, 'Taxes drove me to my doom...' When he's gone, Do not relax, Its time to apply The inheritance tax.

Accounts Receivable Tax

Building Permit Tax

CDL license Tax

Cigarette Tax

Corporate Income Tax

Dog License Tax

Excise Taxes

Federal Income Tax

Federal Unemployment Tax

(FUTA) Fishing License Tax

Food License Tax

Fuel Permit Tax Gasoline

Tax (currently 44.75 cents per gallon)

Gross Receipts Tax

Hunting License Tax

Inheritance Tax Inventory Tax

IRS Interest Charges

IRS Penalties (tax on top of tax)

Liquor Tax

Luxury Taxes

Marriage License Tax

Medicare Tax

Personal Property Tax

Property Tax

Real Estate Tax

Service Charge Tax

Social Security Tax

Road Usage Tax

Recreational Vehicle Tax

Sales Tax School Tax

State Income Tax

State Unemployment Tax

(SUTA) Telephone Federal Excise Tax

Telephone Federal Universal Service Fee Tax

Telephone Federal, State and Local Surcharge Taxes

Telephone Minimum Usage Surcharge Tax

Telephone Recurring and Nonrecurring Charges Tax

Telephone State and Local Tax

Telephone Usage Charge Tax

Utility Taxes Vehicle License Registration Tax

Vehicle Sales Tax

Watercraft Registration Tax

Well Permit Tax

Workers Compensation Tax

STILL THINK THIS IS FUNNY?Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom, if agreed, stayed home to raise the kids. What in the heck happened? Can you spell 'politicians?' I hope this goes around THE USA at least 545 times!!! YOU can help it get there!!!

THE FALL OF THE AMERICAN EMPIRE  

http://imageshack.us/photo/my-images/836/denverconfronts.jpg/

© 1993 Slawek Wojtowicz

Isaac Asimov wrote his Foundation stories to show that every Empire, even the most powerful one, has to fall eventually. Everyone knows that America achieved its' peak power and world influence in the twentieth century. But how much longer is it going to last? It is hard to predict while it is still alive and reasonably well. But, as Asimov observed, there are certain signs that may give early hints that the end is approaching. One of them is a loss of technological knowledge. Couple of years ago I have learned from one of NASA's engineers that the know-how to build the rockets that took people to the Moon was lost. Repeated attempts brought failure after failure in spite of closely following blueprints. I knew that this time the funeral march is being played for the

I thought that it might be worthwhile to look at other great powers of the past, that were similar to the United States and see how and why did they vanish. Long, long time ago - hundreds of years before America was discovered, there was a huge country in the heart of Europe. It was known as the Republic of Both Nations. Between fifteen and eighteen century Republic was the largest country in Europe - extending from the Baltic Sea all the way across the Continent to the Black Sea. It was very different from its' neighbors. Unlike other kingdoms, ruthlessly ruled by royal despots, it was a democratic monarchy, where personal freedoms were respected and enforced by the law. For over six hundred years it was the safe haven for all people persecuted for religious or political reasons elsewhere. It was the first country in modern Europe to open public libraries, to establish the ministry of education and culture, to assure a freedom of religion and to adopt a modern democratic constitution. Citizens were not only allowed but obliged by the law to revolt against the King/Queen if he/she was not fulfilling his/her duties towards the Nation. Every citizen had a chance to become a King in popular elections. It became the second home for Jews - allowing for flourishment of Jewish culture and science unprecedented in the previous history of the Israel. It is not a science-fiction story. But it would cost you some time and effort to find it in history books - it doesn't belong to the official version of the history taught in the Western World.

Republic has been also known as a "Defense Wall of Europe" since all barbarians invading from the East had to face it first. That responsibility started with Mongol invasions in the 12th century and did not end until the demise of the Republic. A good example of how it worked: in 1683 The Ottoman Empire was on the successful quest to conquer Europe. Southern Europe was already in Turkish hands. The Ottoman armies attacked Republic, but after a couple of bloody battles they were forced to back off. Then they looked for an easier target -and they have found one: Austria. Western armies were not a match for the enemy - they have been plagued by the lack of discipline, poor training and a shortage of talented leaders. Outnumbered and demoralized by a string of defeats in the war with Muslims they were not able to stop the progress of the enemy. Ottoman armies reached Vienna. Fall of that city would open the way to the heart of Europe and would mean the end of Christianity and the Western culture as we know it. Austria and other European countries begged Republic for assistance. King Jan III brought his armies to rescue Vienna and was offered the command of united European forces. In a spectacular battle, the coalition defeated the Ottoman armies. To this day one can admire Turkish flags, tents and jewels captured after the battle and donated to the Vatican. Republic's armies didn't return home until Hungary was also freed from Turkish invaders.

The death of Republic in eighteen century gave a rise to a huge emigration waves from the whole Continent - there was no place anymore in the Old World to hide from the terror of absolute rule, religious persecution, witch hunts and pogroms... Fortunately a new, democratic country was being born while Republic was dying: the United States of America. And America proudly carried on the legacy of the Old Republic.... at least for a while.

Why did the Republic of Both Nations fall? The answer can be found right now and right here: in Washington D.C. It is hard to overlook corruption of the rich, legalized bribery, (nicknamed "lobbying"), demoralization of politicians shamelessly selling American secrets to foreign governments as soon as they resign from their office. Anyone can see growing divisions between poor and rich, white and black, native and alien... as well as growing national debt, inadequacy and incompetence of politicians, loss of influence and power on the world arena, decline in quality of life of an average citizen, social unrest. The list can go on and on... That is only one side of the coin. The Republic had also one important legal flaw, that turned against its' creators. "Liberum veto" - a constitutional amendment that was designed originally to protect democracy and individual freedom. It was supposed to assure that no law could be passed in the parliament unless there is total consensus, i.e. each representative had a power of veto. As a result, there was no laws passed in the last two hundred years ofthe Republic.

America has also an equally lethal flaw: the design of the whole justice system. It was initially conceived to facilitate fair and speedy execution of the law. It ended up as a monstrosity allowing criminals to go unpunished, promoting the fall of the health system as well as rise of racism. America is the only place on this planet where one can sue and get sued for anything - and win, irrespectively of the truth, if one has a clever lawyer on his/her side. A new society, based on distrust and greed was born. Where can we escape in search of freedom and justice now? The Old Republic is gone forever, but its' story still lives in a memory of its' descendants. They live dispersed through the ten countries that cover vast areas of the central and eastern Europe. But you might meet one of these proud people right in your own neighborhood. And if you'd like to read more about the spiritual predecessor of America, look it up in history books under Polan

How The Rich Hide Their Wealth/How it hurts you!

 

"Barack Obama says that his tax plan will only affect the top 5% of working Americans who earn more than $250,000 a year, otherwise known as the “rich” or “wealthy Americans” according to him and the Democrats. However, what many Americans don’t realize is that the Rich know how to hide their wealth so that they are not forced to pay more taxes than the rest of working Americans. What they do is not illegal. They just use the tax code creatively to get as many deductions as possible, they segmentize their money, re-invest their money, park their money, and even move it away from the shores of the United States to avoid excess taxation".

Many of us are not part of the top 1 percent, but we, as taxpayers are as most Us taxpayers. Exploited, mistreated, cheated, the victims of lies, runaround by our employers and our creditors, while the "regulatory agencies" designed to protect us instead are throwing us to the predators, the frauds; and, they're joining in the fun. But these agencies, creditors and employers are made not of robots, but humans, indiividuals who are liable to answer for their misdeeds. If we are sued, penalized and  prosecuted for being convicted of cheating or underpaying taxes, it is us to people such as I, to help ensure that these defrauders and their accomplices pay the piper.

In the matter of a few decades, the

income tax become increasingly more

complex and the BIR struggled to keep up.

FPG/Hulton Archive/Getty Images

Federal IRS Growth, Corruption and Reform

Ever since the beginning of the Internal Revenue Service (IRS), taxpayers have suspected it of abusing its power, showing favoritism and invading privacy. In some cases, these accusations have been well-founded. Arguably, however, many of these problems stemmed from the difficult and unprecedented responsibilities Congress put on its shoulders. file:///Users/mary/Downloads/irs2.htm

How the Rich Hide their wealth website: file:///Users/mary/Downloads/Barack%20Obama%20-%20How%20The%20Rich%20Hide%20Their%20Wealth%20%20%20Barack%20Obama%20Tax%20Plan.html

Decline and fall of the American Empire: Following the decline of Roman Empire!

We're next!

 ARROYO GRANDE, Calif. 

(MarketWatch) -- "One of the disturbing facts of history is that so many civilizations collapse," warns anthropologist Jared Diamond in "Collapse: How Societies Choose to Fail or Succeed." Many "civilizations share a sharp curve of decline. Indeed, a society's demise may begin only a decade or two after it reaches its peak population, wealth and power." Now, Harvard's Niall Ferguson, one of the world's leading financial historians, echoes Diamond's warning: "Imperial collapse may come much more suddenly than many historians imagine. A combination of fiscal deficits and military overstretch suggests that the United States may be the next empire on the precipice." Yes, America is on the edge. Dismiss his warning at your peril. Everything you learned, everything you believe and everything driving our political leaders is based on a misleading, outdated theory of history. The American Empire is at the edge of a dangerous precipice, at risk of a sudden, rapid collapse. Ferguson is brilliant, prolific and contrarian. His works include the recent "Ascent of Money: A Financial History of the World;" "The Cash Nexus: Money and Power in the Modern World;" "Colossus: The Rise and Fall of The American Empire;" and "The War of the World," a survey of the "savagery of the 20th century" where he highlights a profound "paradox that, though the 20th century was 'so bloody,' it was also 'a time of unparalleled progress.'" Why? Throughout history imperial leaders inevitably emerge and drive their nations into wars for greater glory and "economic progress," while inevitably leading their nation into collapse. And that happens suddenly and swiftly, within "a decade or two." You'll find Ferguson's latest work, "Collapse and Complexity: Empires on the Edge of Chaos," in Foreign Affairs, the journal of the Council of Foreign Relations, a nonpartisan think tank. His message negates all the happy talk you're hearing in today's news -- about economic recovery and new bull markets, about "hope," about a return to "American greatness" -- from Washington politicians and Wall Street bankers. 'Collapse of All Empires:' 5 stages repeating through the ages Ferguson opens with a fascinating metaphor: "There is no better illustration of the life cycle of a great power than 'The Course of Empire,' a series of five paintings by Thomas Cole that hangs in the New York Historical Society. Cole was a founder of the Hudson River School and one of the pioneers of nineteenth-century American landscape painting; in 'The Course of Empire,' he beautifully captured a theory of imperial rise and fall to which most people remain in thrall to this day. Each of the five imagined scenes depicts the mouth of a great river beneath a rocky outcrop."

How and why is in our research, news and uncovered gems. Here's how the rich hide their wealth and  why the Internal Revenue Service and Congress honor their actions. It's called "foundation" and "offshore banking". 

"Your typical American worker receives a paycheck, deposits that money in a bank account, and files a W-2 tax return every year based on the payment records from their employer. Because of this, the average American worker thinks that rich Americans do the same thing. However, nothing could be further from the truth. Rich Americans instead rely on a strategy of “asset protection,” in which not only their money, but everything they own is protected from both government taxation and lawsuits". How....read on...

Homeownerhsip and Pension Benefits Are Under Siege! The US Government and its regulators are complicit. Barack Obama and Congress have given away your pension rights. Get the money out now, or lose it!  

The Decline and Fall of the American Empire December 22, 2011

"A soft landing for America 40 years from now? Don’t bet on it. The demise of the United States as the global superpower could come far more quickly than anyone imagines. If Washington is dreaming of 2040 or 2050 as the end of the American Century, a more realistic assessment of domestic and global trends suggests that in 2025, just 15 years from now, it could all be over except for the shouting".                                                            

Are we headed for a Bolshevik type resolution? This "one percent" we keep hearing about will never surrender their greed, ill-gotten wealth and debt driving mentality. Nonviolent protests are a joke; The greedy don't respect them. Takes a lot more than such protests! Federal, Local and State Governments are aiding and abetting mortgage crimnals to steal your homes. The Homes already foreclosed, it is being proposed, should be turned into rentals. If you walked away, you lost. or did you?

Pensions are toast, just as homeownership is fried.....unless you're above the financial fray!

 

 

 

David Stockman on Crony Capitalism from BillMoyers.com on Vimeo.

“Crony Capitalism” Has Killed the Free Market and Democracy April 25th, 2011 | Author: FedUpUSA

“I believe we no longer have free market capitalism and we no longer have a democracy,” says David Stockman, the blunt-talking former Michigan Congressman and Director of the OMB during the Reagan administration. What now exists at the heart of the U.S. economy, Stockman argues, is “crony capitalism” – a system that benefits and even rigs the system in favor of America’s banks and bankers at the cost of average Americans. It’s a system built on the back of government-issued bailouts and free money. “The Fed is the great enabler” through its free money policies, which “generate results the market wouldn’t otherwise provide for,” he says.

Here We Go Again! 

another stunning year

January 7, 2012.

The system continues to crumble. "House prices have fallen an average of 33 percent from their 2006 peak, resulting in about $7 trillion in household wealth losses and an associated ratcheting down of aggregate consumption," according to a Federal Reserve White Paper that Fed Chairman Ben Bernanke provided to the chairmen and ranking members of the House and Senate banking committees on January 4, 2012. It states: "...the large inventory of foreclosed or surrendered properties is contributing to excess supply in the for-sale market, placing downward pressure on house prices and exacerbating the loss in aggregate housing wealth. At the same time, rental markets are strengthening in some areas of the country, reflecting in part a decline in the homeownership rate. Reducing some of the barriers to converting foreclosed properties to rental units will help redeploy the existing stock of houses in a more efficient way. Such conversions might also increase lenders' eventual recoveries on foreclosed and surrendered properties." Thank you, Chairman Bernanke, for those snappy remarks. Deploy means to move troops into position for action. Maybe your troops can establish base camps filled with barracks to deploy the millions of families who were marched out of the "existing stock of houses."

Guess who's making a killing on the loss of your home?....bank criminals, brokers, government regulators and government housing agencies. The congressional representatives are becoming millionares and billionaires by the path of private equity, fraudulent foreclosures, bankruptcy corruption, and tax fraud. All the while the government gets in bed with thes jackals in order to cheat us out of what's rightfully ours.

"Bank of America's CEO Brian Moynihan earned $2.26 million in 2011, while his bank's market value dropped 60%. Chase CEO Jamie Dimon took home $41.9 million — the most among bank CEOs — for steering a bank that lost 23% of its stock value in 2011. Goldman's Lloyd Blankfein pocketed nearly $22 million, while his investment bank lost more than 46% of its market value. You gotta pay top dollare to lose money at that rate. Compensation pools at seven of the biggest U.S. banks totalled about $156 billion (including salaries, benefits and bonuses) in 2011, which is 3.7% higher than the record breaking number set in 2010. Truthout January 2, 2012. Bankruptcy attorney Max Gardner's prediction for 2012: The number of homes in foreclosure will double or triple from 2011 levels and home values will drop by another 15% to 20% by the end of year. I do not expect to see any real recovery in the housing market until at least 2022. A massive number of bank-owned homes (Real Estate Owned or REO property) will be turned into rental properties by the banks and/or mortgage servicers and many more foreclosed on homes will be sold in bulk sales to investors for the same purpose. Bank of America will be forced into liquidation under the too big to fail provisions of the Dodd Frank Act. The FHFA as conservator of BoA may impose the Chapter 13 principal reduction program for all loans owned and serviced by the Bank. Santa Barbara has not escaped the housing collapse. Consider the Old Masini Adobe in Montecito. Almost 200 years old, this vintage piece of history is considered to be the oldest 2-story adobe. Built in 1820, this Monterey Colonial is a historical landmark situated on 3/4 acre on 129 Sheffield Drive. Originally listed at $3 million, then reduced to $2.5 million, it sold at the end of 2011 for $791,000. Notices of Trustee's Sale recorded in Santa Barbara County: 2007-2011: 10,946 2002-2006: 880 Foreclosures in Santa Barbara increased 12.4 times in the most recent five years compared to the previous five years".

We warned you, pleaded with you not to walk away from your home without being forced out. Had you not done so, you likely would still be there! If you still in your home, witness these homeowners who wouldn't budge..

"The system's broken" -Rich Sharga, Sr. Vice President, RealtyTrac

With the nation's foreclosure system all but paralyzed after an avalanche of loan failures and "robo-signing" scandals, many delinquent homeowners are defying lenders and staying put. Instead of packing up and slinking away, they're living for free, sometimes for years. They're hiring lawyers to challenge their cases, and many are winning reprieves or causing the process to stall even further. "They go into a perpetual state of limbo where nothing happens or the case goes very slowly," says attorney, Mark Stopa. The extraordinary delays are hampering hope of a housing market recovery and pushing this year's troubles into next year, says Rich Sharga, senior vice president at RealtyTrac, which tracks foreclosure data. The logjam also has kept thousands of new cases from being filed. "The system's broken," he says. The AARP article continues, "Often, banks are not pushing to go to foreclosure. They seem to be in no hurry to add to their swollen inventory of repossessed homes, which now stands at a near record 862,000 nationwide.

Banks Can't Prove They Own The Loan

With the nation's foreclosure system all but paralyzed after an avalanche of loan failures and "robo-signing" scandals, many delinquent homeowners are defying lenders and staying put. Instead of packing up and slinking away, they're living for free, sometimes for years. They're hiring lawyers to challenge their cases, and many are winning reprieves or causing the process to stall even further. "They go into a perpetual state of limbo where nothing happens or the case goes very slowly," says attorney, Mark Stopa. The extraordinary delays are hampering hope of a housing market recovery and pushing this year's troubles into next year, says Rich Sharga, senior vice president at RealtyTrac, which tracks foreclosure data. The logjam also has kept thousands of new cases from being filed. "The system's broken," he says. The AARP article continues, "Often, banks are not pushing to go to foreclosure. They seem to be in no hurry to add to their swollen inventory of repossessed homes, which now stands at a near record 862,000 nationwide. The People vs. Goldman Sachs

Ulysses S. Grant Warren Harding Richard Nixon George W. Bush

  

Wendell Harper    

Host Welcome To Your Breath of CRUCIAL,  Fresh Answers

Far too often, the writers, bloggers, so-called financial analysts/professionals convince us that those who represent us in government have thepower to make new laws without new legislation. In our parlance, as part of my social circle, we would call that "bunk".

I cannot be sure whether these sources are for oragainst sound, honest, effective governmental operations. The authors, bloggers, analysts and officials keep telling us that this settlement the Obama Administration reached with the banks is binding. Horse shit!

You, clearly, are prepared to swallow this melancholy badger game of musical chairs, but I am not. I cannot and will  not allow people to borrow money by using my signature on a promissory note, and stick me with the debt.

Don't mention the fact that these same thieves then are permitted, not by law, but by some who work in government, to hide their profits, and to sell worthless mortgages to our governmental system.

Public outcry, properly directed, can overcome the worst crimes. But homeowners first have to tune out these simple-minded, vanilla wafer sources of negative thinking, and put our power to the test. 

We have rights we don't even know of,  and unlike my spouse and I, many of you don't want to know or believe that we have a government infested with corrupt overseers. Too many of our representatives are financially involved in adventures and investment deals that takes away our property, real and personal, on a poker bet.

I've said it before. Greed will invited misdeed, unless with succeed in keeping the rats from the seed; and boy are we infested with rabid rats, out to get gravy with each ounce of beef they steal through our enslaved doings.

Harperenterprize.com is loaded with links that lead you to the answers for your questions, especially those involving how to acquire, maintain and keep your home. I believe in documentation, a balanced approach.

If I have something to say, it's backed by articles, affidavits, proverbs, lawsuits and notices that  say exactly the same, with one exception. The strategies they offer are weak, slow, meely-mouthed and sniveling.

Check out the articles about ways to deduct your mortgage losses from your taxes, and be entitled to the same refund that benefits a lender when they file a 1099. Use your head, and don't listen to these dummies. The fraud they speak of is perpetual. 

But the strategies they offer don't do the job.

 

 

 

 

Now it is the American Empire that is headed for a sure collapse, just like ancient civilizations. Mortgage and Pension Corruption are driving the cattle off the cliff. Read below carefully.  A message is inherent within. A huge message. It's what happened leading up to the fall of Rome, Egypt, Greece, Meroe and other civilizations. Greed preceded them all. 

"More dangerous to health than hypochondria is what I might call hyperchondria. This is the condition under which people are unshakeably sure that they are fine. They might sustain a severe physical injury and refuse medical treatment. They brush off any and all sensations of physical illness. They suffer from an interminable and unshakeable optimism. Government — or, at least, the public face of government — is littered with them. John McCain blustered that the economy was strong and robust — until he had to suspend his Presidential campaign to return to Washington to vote for TARP. Tim Geithner stressed there was “no chance of a downgrade” — until S&P downgraded U.S. debt. Such is politics — politicians like to exude the illusion of control. So too do economists, if they become too politically active. Ben Bernanke boasted he could stanch inflation in “15 minutes“. So, between outsiders like Ron Paul who have consistently warned of the possibility of economic disaster, and insiders like Ben Bernanke who refuse to conceive of such a thing, where can we get an accurate portrait of the shape of Western civilisation and the state of the American empire"

Could we be headed for a revolution. We had the fall of Rome, more than a thousand years ago...

 

The Jewish Role in the Bolshevik Revolution and Russia's Early Soviet Regime

Assessing the Grim Legacy of Soviet Communism

by Mark Weber In the night of July 16-17, 1918, a squad of Bolshevik secret police murdered Russia's last emperor, Tsar Nicholas II, along with his wife, Tsaritsa Alexandra, their 14-year-old son, Tsarevich Alexis, and their four daughters. They were cut down in a hail of gunfire in a half-cellar room of the house in Ekaterinburg, a city in the Ural mountain region, where they were being held prisoner. The daughters were finished off with bayonets. To prevent a cult for the dead Tsar, the bodies were carted away to the countryside and hastily buried in a secret grave. Bolshevik authorities at first reported that the Romanov emperor had been shot after the discovery of a plot to liberate him. For some time the deaths of the Empress and the children were kept secret. Soviet historians claimed for many years that local Bolsheviks had acted on their own in carrying out the killings, and that Lenin, founder of the Soviet state, had nothing to do with the crime.

So you love America, yes, but....does it love you? Recent news and information says "NO"!

Wall Street's Ride Compounds States' Pension Fears

If you've got your money in a public or private sector pension fund, neither has a guarantee of payoff. While we keep hearing that public employee pensions are safe, because of constitutional law, no money is safe from our departments and agencies, or would you care to argue that point?

Many of the articles on the matter of Economic Disaster would like to lay the blame squarely on President Barack Obama, but I won't. At the same time, I wouldn't support him either, and I could care less if he isn't re-elected. Barack Obama is doing things to the benefit of just about every racial or ethnic group, except Blacks. Check the record. The most he's done for Blacks in the US is to increase unemployment, paid criminals to steal our homes, and intends to mandate that we have national health care even though he knows damn well we can't afford it!

Why does Barack Obama treat Blacks so poorly? The same reason that Black Law Enforcement officials often attack or show much more aggression when dealing with Black civilians. It's easy, and we let him get away with it....but I won't. He knows that we'll protest only under our breaths when he screws us, and he counts the Black vote before the ballots are cast. Of course he has seldom, if ever been heard championing the cause of Blacks or African Americans, whether constituents, in his administration, or in the ministry.

Not to mention the fact that President Barack Obama is(that's beginning to sound silly) quick to take credit for killing Blacks and Arabs. But of course, we don't have white terrorists do we? No....when you consider we are the ones they fear.  Blacks, Arabs, and perhaps Latinoes.

Let's be frank. Barack Obama rides the wave of being the first Black President, when that's not what he is at all. White women shall not bear Black Children. Any and everybody can't be Black because one of the parents happens to be so. Is it not an insult to assume automatically, that anyone who has a Black parent, is Black? Is it not an insult to Black mothers to make such an assumption? 

At any rate, we have a President who suggests hes Black, but in truth he's bi-racial, and they should be the ones getting the credit for that. Blacks get the credit for voting to elect Obama, the way they never voted to elect any Black Candidate. I say that Blacks would have gotten much more from a Martin Luther King Jr.  Presidency, or one held by the Reverend Jesse Jackson. But of course they were "too Black" to get elected, and please don't bother denying it.

Let's just say that if I had my druthers..Barack Obama would be a one-term President, and all the politicians in congress would serve one term or less. These guys, to the number and the letter, are much too expensive, much to vanilla, and way to corrupt. That's who they are..it's what they do, nothing to help or benefit the masses. If you aren't an executive or better, or rich to the guild, then your pension, your home, and all your assets are up for grabs. You'd  better be a tough bastard, because you're dealing with Jesse James, Billy the Kid, the Hole in the Wall Gang and the Purple gang holding the purse strings over both pensions and mortgages. But the biggest leeches are in the Private Sector. If it says mortgage lender, the words spell fraud. When you hear the words loan, and low interest rates, just know that you'll be greater in debt, and on the road to detriment if not financial devastation.

To make my point, I seek help in making my case, by finding the facts, identifying other researchers and watchdog websites, to bring you all aspects of news and information. Here's another example. 

By MICHAEL GORMLEY August 12, 2011 ALBANY, N.Y. (AP) —

Wall Street's volatility has hit state pension funds just as they were beginning to recover from the recession, turning what was merely a troubled forecast into a potentially stormy future for taxpayers who are on the hook for billions in unfunded liabilities for government retirees. As for the millions of government clerks, engineers, janitors, teachers and firefighters in the retirement systems, they are protected by law or, as in New York, by the state constitution, to be backed up by tax dollars if necessary. Their benefits remain safe for life in guaranteed "defined benefit" pension plans that are disappearing in the private sector, where most employees are left to fend for themselves with 401(k) plans that they mostly or entirely fund themselves. California's main public-employee pension fund, the nation's largest, has lost at least $18 billion off its stock portfolio since July 1, about 7.5 percent of its $237.5 billion total asset value on June 30. Florida's pension fund has lost $10.7 billion since June 30, a decline of 8.3 percent for a fund now valued at $117.7 billion. New York's state comptroller will not say how much the state pension fund has lost during the latest Wall Street roller coaster, but the fund was 5 percent below its pre-recession value before the recent losses and remained nearly $8 billion below its pre-recession value. And Kentucky, which has more than $20 billion in unfunded pension liabilities, has seen the value of its public pension fund decline $1.7 billion — or 15 percent — since July 1, falling to a total value of $9.7 billion. Nationwide, states have a combined $689.5 billion in unfunded pension liabilities and $418 billion in government retiree health care obligations, according to data collected earlier this year by The Associated Press. Those benefits are protected by state law or, as in New York, by the constitution. Pension fund managers say there is no risk current government retirees will miss a monthly check and that they are remaining calm and taking the long view in their investments. Some say the market plunge is even providing a great opportunity to buy stocks at fire-sale prices. Kentucky Retirement Systems Chief Investor T.J. Carlson said his fund has not made significant changes to its investments in response to the market turmoil. "We haven't changed our long-term strategy in any way," he said. Critics of the defined benefit plans, which guarantee pensions for life to public employees and are rarely found any longer in the private sector, say the recent stock market plunge underscores the need for fundamental change.

file:///Users/mary/Downloads/Wall%20Street's%20Ride%20Compounds%20States'%20Pension%20Fears.html

 

This is an election year folks, and Barack Obama is on his campaign platform.

For my money, not one of these politicians have given me any reason to vote for them, only to limit their terms, and cut back all terms to three years. When we witness the revolving door of employees and executives passing from public to private and back, we understand why so much corruption abounds:

JPMorgan Chase — Too Big Not To Fail

We got trouble right here in River City, with a capital T that rhymes with C and that stands for CHASE

JP Morgan Chasing Chase is like catching a wave

Capitalism is "Out of Whack"

The President Sends Bank Lawyers after the Banks U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department's criminal division, were partners for years at a Washington law firm that represented a Who's Who of big banks and other companies at the center of alleged foreclosure fraud, a Reuters investigation shows. While Holder and Breuer were partners at Covington, the firm's clients included the four largest U.S. banks - Bank of America, Citigroup, JP Morgan Chase and Wells Fargo. The traffic between the Justice Department and Covington & Burling has been non-stop. In 2010, Holder's deputy chief of staff, John Garland, returned to Covington. So did Steven Fagell, who was Breuer's deputy chief of staff in the criminal division. The revolving door between the Obama administration and Big Banks never stops turning. President Obama announced in his State of the Union address on January 24, 2012, that he was creating a special unit within the Financial Fraud Enforcement Taskforce to deal with mortgage origination and securitization abuses: And tonight, I am asking my Attorney General to create a special unit of federal prosecutors and leading state attorneys general to expand our investigations into the abusive lending and packaging of risky mortgages that led to the housing crisis. This new unit will hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans.

The members of the new Mortgage Securitization Abuses Unit were identified as New York Attorney General Eric Schneiderman; Assistant U.S. Attorney General Lanny Breuer; Robert Khuzami, Director of Enforcement at the SEC; John Walsh, U.S. Attorney, District of Colorado; and Tony West, Assistant Attorney General, Civil Division, Department of Justice. New York Attorney General Schneiderman and Delaware Attorney General Beau Biden have been among the most outspoken regarding the prosecution of crimes relating to mortgage securitization. Schneiderman released a statement after the President's address: "In coordination with our federal partners, our office will continue its steadfast commitment to holding those responsible for the economic crisis accountable, providing meaningful relief for homeowners commensurate with the scale of the misconduct, and getting our economy moving again. The American people deserve a robust and comprehensive investigation into the global financial meltdown to ensure nothing like it ever happens again, and today's announcement is a major step in the right direction."

Abigail Caplovitz Field wrote in Reality Check on January 24, 2012, "Schneiderman isn't chairing anything. He's Co-Chairing. That's a huge difference. If he's Chair he's in charge. If he's Co-Chair he needs consensus. And who is he Co-Chairing with? Four people, starting with Lanny Breuer. That's unacceptable...Why has Breuer failed to go after the people who committed 'misconduct and illegalities that contributed to both the financial collapse and the mortgage crisis'? Is it because he's an ex- (and likely future) Covington & Burling partner? Doesn't matter. His track record speaks for itself. There is only one reason to have him co-chair with Schneiderman, and that's to rein Schneiderman in." On January 31, Bill Black wrote, "The federal government does not intend to prosecute criminally the large financial firms and their senior officers who committed hundreds of billions of dollars in fraudulent mortgage originations. That figure only counts the fraudulent liar's loans the five large banks made. The total amount of mortgage origination fraud through liar's loans exceeds $1 trillion. The five banks' civil liability for mortgage origination fraud is vastly larger than their civil liability for their endemic foreclosure fraud." "Capitalism is out of whack," said Klaus Schwab, founder and president of the World Economic Forum. "We have sinned," he said, adding that this year's forum in Davos, Switzerland, will place particular emphasis on ethics and resetting the moral compass of the world's business and political community. New Zealand Herald 1/26/2012.

Low and behold, we are told by this author that our chief executive officer has access personally to billions, and he's not spreading the wealth to us; but to Deutsche Bank, or "Murder Incorporated" and to other banks, "too big not to fail".  Rich man, poor man, begger man, thief:

"Here is the whole article , yes many people are working hard to overcome this obstacle that he has presented if this has already been posted in full then i am sorry to repeat it. Thursday, July 28, 2011July 28, 2011

OBAMA OFFSHORE TRADING PROFITS EXCEED 3 BILLION DOLLARS OBAMA IGNORES WORLD COURT ORDERS; OBAMA MENTAL CONDITION IS OF CONCERN TO STAFFERS; OBAMA IMPEACHMENT INEVITABLE!

We have been informed once again that Obama has flipped and flopped on the World Global Settlements. Since our White Hats Report # 16 wherein we explain that President Obama had moved the funds from the Vatican Bank into a trading program with Josef Ackermann at Deutsche Bank, his trading profits have far exceeded 3 Billion Dollars according to Falcone’s investigators. At the present time, Obama has closed out his accounts at Deutsche Bank and is no longer trading directly with Josef Ackermann. It is still possible that Josef Ackermann may be assisting Obama with movement of his funds into other European banks in an attempt to obscure their relationship. We have been told that this latest series of moves by Obama is a reaction to the White Hat Reports and all of the ongoing investigations he is and is not, aware of". 

PRESIDENT OBAMA HERE IS A SONG YOU NEED TO LISTEN TO :ALABAMA "SONG OF THE? SOUTH" AND AMEN.

 

                                                                                                          brook benton/shadrack(MP3)

Direct Network: Financial Clarity  

Yellow Brick Road to Resolution: We follow the money, expose the corruption, radarize the criminals and outsource the crisis!

"Published on Monday, January 23, 2012 by Naked Capalitism

Obama to Use Pension Funds of Ordinary Americans to Pay for Bank Mortgage “Settlement”

by Yves Smith Obama’s latest housing market chicanery should come as no surprise. As we discuss below, he will use the State of the Union address to announce a mortgage “settlement” by Federal regulators, and at least some state attorneys general. It’s yet another gambit designed to generate a campaign talking point while making the underlying problem worse. The president seems to labor under the misapprehension that crimes by members of the elite must be swept under the rug because prosecuting them would destabilize the system. What he misses is that we are well past the point where coverups will work, and they may even blow up before the November elections. If nothing else, his settlement pact has a non-trivial Constitutional problem which the Republicans, if they are smart, will use to undermine the deal and discredit the Administration Mortgage Fraud and Foreclosure Crisis

 

Attention: Don't be fooled by the notion that you have to accept being kicked out of your house by thieves, and seeing it sanctioned by the biggest thief. Barack Obama. This is election time, and he's got some questions to answer. I am going to pose them repeatedly. Neither he or  we, will be able to ignore them. 

"Obama's mortgage fraud settlement announced in last nights SOTU appears to favor the speculative banks that hold second mortgages over pension funds that hold first mortgages. It also incentivizes banks to resist settling on terms more favorable to fraud victims where the state's attorney is pursuing a separate deal. Senator Sherrod Brown has publicly criticized Obama's new deal with the criminal mortgage bankers. The attached article discusses the current state of this development.

Not one of these mortgage frauds has paid a dime in taxes connected to the refinancing of mortgage loans. The Amended Returns that have been filed for Major mortgage interest are not being paid, at least not in the cases of those I know. Several of us have filed for Home Acquisition Debt, or have claimed losses on our homes allowed by the Internal Revenue Code. If you refinanced at any point, these guys owe you, and its way more than $2000.00. Barack Obama needs to know that we are not going to just stand by and allow him to preside over a royal screwing, which exactly is what he's doing. I've already filed for refunds of my mortgage loans my spouse and I refinanced all the way back to 2001. I am not going to let some scheme by a puppet ruin my day.

This economy is down the tubes; our pensions are being frozen, raided, stolen, while our "regulatory" agencies stand in for thieves and give the spin of private employers. The Private Equity thieves are pirating all of our pension money, while the government prepares to nationalize our pensions and continue to steal our homes. Are you listening Richard Blum and Dianne Feinstein? How many others are raking us over the financial coals? 

This so-called settlement with Mortgage Frauds is in itself a fraud. Has Barack Obama broken the codes of the Internal Revenue Service, The US Code, stautes. Should he not be impeached. 

a 25 billion dollar sell-out for what is a multi-trillion dollar con. Making deals with criminals is not constitutional. The Executive Branch of Government has no right to make or pass laws. The Congress has no authority to grandfather in laws that forgive tax fraud, failure by major mortgage schemers to pay taxes on the loan money they manipulated from homeowners. Obama must be challenged from pillar to post. If laws are broken, he should be impeached. Barack Obama has made  no deal for my spouse or I, and he's made no deal for you either, unless you're heavy income and of the richer few. 

Look out....beware......we're in a downward economic spiral directly into a great depression of t he 21st Century!!! Guess who gets first and foremost. But they won't be the only ones or the worst affected. We will see to it!

"The financial crisis is deepening, with the risk of seriously disrupting the system of international payments. This crisis is far more serious than the Great Depression. All major sectors of the global economy are affected. Recent reports suggest that the system of Letters of Credit as well as international shipping, which constitute the lifeline of the international trading system, are potentially in jeopardy. The proposed bank "bailout" under the so-called

Economic Collapse Economic Collapse Many people are wondering if there is a total economic collapse in our near future, something equal to or greater than the great depression. Its no wonder with high unemployment and foreclosure rates, the devaluing of the US dollar, increase in commodities and the out of control national debt.

Many people are wondering if there is a total economic collapse in our near future, something equal to or greater than the great depression. Its no wonder with high unemployment and foreclosure rates, the devaluing of the US dollar, increase in commodities and the out of control national debt.

Troubled Asset Relief Program (TARP) is not a "solution" to the crisis but the "cause" of further collapse".

The Labor Secretary is acting in defiance of Federal Law and getting away with it. Even the Government Accountability Office says so! So does the firm that conducts audits of the agency.

Check out this video. This JP Morgan Funds Channel Representative sounds as if he's the key to the world's future.

We'd never know that he's full of it if we didn't see the financial world collapsing around us while this dude waxes ineloquently!

 

 

Judas Priest! What would make Senator Feinstein look like this when a picture is taken?

  

 Plenty! or so say her detractors:

HolyToledo! The late Bill King might say!

Richard Blum is now on the Board of the Federal Reserve......Another piece in the Economic Collapse Pie!

Per Wikipedia: Blum's wife, Senator Dianne Feinstein, has received scrutiny due to her husband's government contracts and extensive business dealings with China and her past votes on trade issues with the country. Blum has denied any wrongdoing, however. Critics have argued that business contracts with the US government awarded to a company (Perini) controlled by Blum may raise a potential conflict-of-interest issue with the voting and policy activities of his wife. URS Corp, which Blum had a substantial stake in, bought EG&G, a leading provider of technical services and management to the U.S. military, from The Carlyle Group in 2002; EG&G subsequently won a $600m defense contract. In 2009 it was reported that Blum's wife Sen. Dianne Feinstein introduced legislation to provide $25 billion in taxpayer money to the Federal Deposit Insurance Corp, a government agency that had recently awarded her husband's real estate firm, CB Richard Ellis, what the Washington Times called "a lucrative contract to sell foreclosed properties at compensation rates higher than the industry norms." In 2009 the University of California Board of Regents, of which Blum is a member, voted to increase student registration fees (roughly the Univ. of California equivalent of tuition) by 32%. Shortly thereafter, Blum Capital Partners purchased additional stock in ITT Tech, a for-profit educational institution. These events suggest a conflict of interest on Blum's part.".............

I'm not a detractor, nor have I made an agenda of following her path since she left for Washington. I covered all her mayoral campaigns, including the election, interviewed Feinstein live each time we had a major election night at city hall, again in 1984 as the only live floor reporter at the Democratic Convention in San Francisco, and then at her office about four years ago. But this one was hard to take, in San Francisco, to Chevron headquarters, where I had gone many times. But this time was different.

Chevron Bans Pacifica From Press Conference  

Chevron yesterday barred a credentialed Pacifica Radio news reporter from attending a public news conference with U.S. Senator Dianne Feinstein. Wendell Harper, a 20-year veteran in news reporting for Pacifica station KPFA in Berkeley, California, was denied access to the press conference at Chevron’s San Francisco headquarters. He was there to cover Chevron’s announcement that it was phasing out MTBE additives from its gasoline. Fred Gurrell of Chevron’s Public Affairs office told KPFA station manager Nicole Sawaya that "Pacifica does not report news" and hung up on her.

LISTEN WATCH

Real Audio Stream …

Senator FEINSTEIN is PROFITING FROM the BUILDING of the BAY BRIDGE, the HIGH SPEED RAIL, and SIX OTHER PROJECTS totaling 50 BILLION DOLLARS and her husband, the contractor, is nt.htmlbuilding all of those projects. By RICHARD TRAINOR 

file:///Users/mary/Downloads/Catellus%20Development.html

"When governments or states have secrets, they almost always involve money. Greedy state politicians are on the take. They get into office by courting a coven of rich cronies. They stay in office to enrich those cronies and enter that Mt. Olympaen social circle. They are already so morally compromised by those two games that they begin using illegal tricks to enrich themselves a few million at a time, so that they too can enter the Olympean inner circle of the beautiful and famous and truly elite. When all those ambitious people get there, their character has dissolved into mud. They are locked into class hatred like you wouldn't believe. Beautiful girls who have penetrated that world on a rich man's arm, have told me what they saw. The oligarchs HATE us, fear us, despise us. Their most devout wish is to never fall back into this condition. They can justify any deal making of the illegal sort that they can do to get the money to stay in the UPPER CRUST and never go near the masses again. Connect the dots. That frightened headset of the oligarch is what has bankrupted us, the proletariat citizens because a terrified politician on the way up will do anything. In my state, California, Diane Feinstein is the queen of greed and theft. She has broken laws to MAKE laws, -- laws to get her projects passed. Laws to get bonds and contracts which enrich her contractor husband. She has Pork barrelled straight from the state coffers to her bank account. Study California, you'll see graft, theft, bribery on the grand scale. Sure, good ole boys clubs exist in all the states. You’ve heard about pork barreling. It’s when you are sent to Washington working for your state as an elected representative and you get beaucoup MOOLA from the FEDERAL GOV for your state, for your PEOPLE".

Corruption in the pension industry"

"Contact: Washington D.C. Office (202) 224-3553 Democratic Women Senators Announce Checklist for Change Washington, DC — The nine Democratic women of the Senate today joined together to launch Democratic Women for Change, an initiative that calls for a new direction for America, and for a change in tone and a change in agenda in the United States Senate. Meeting at the historic Sewall-Belmont House, Senators Barbara Mikulski, Dianne Feinstein, Barbara Boxer, Patty Murray, Mary Landrieu, Blanche Lincoln, Debbie Stabenow, Maria Cantwell, and Hillary Rodham Clinton unveiled their “Checklist for Change,” a list of nine issues Congress can immediately address to better the lives of the American people. Across the country, Americans are struggling with difficult issues in their lives. Whether it’s paying for healthcare or sending their kids to college, threats to homeland security or Social Security, job outsourcing or global warming, they face real problems that are not solved with partisan political divisions in Washington, D.C. Sadly, the American people see little attention to what really matters in their lives in the Republican Senate. They want a new direction.

“We, the Democratic women of the Senate, are writing to challenge you to change direction, change the tone, and change the agenda to match the priorities of the American people,” wrote the Senators in a letter to Senate Majority Leader Bill Frist. “There are approximately 50 days left in this legislative session--still plenty of time to change direction and focus instead on meeting the challenges that affect the American people in their daily lives.”

“The Checklist for Change” lists nine priorities for the American public that the Senate should address right now: SAFEGUARD AMERICA'S PENSIONS: Americans deserve to retire with dignity and financial security. We will continue to oppose any plan to privatize social security, because seniors deserve a guarantee rather than a gamble. Recent corporate corruption and mismanagement has shown us that we must also protect employee pension plans. The Republican Congress has stalled these efforts. For the good of all American workers, we challenge them to pass a clean pension bill."

Wake up Everybody...and watch the Rich Get Richer, The Poor Getting Poorer! 

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But alas....When the Saints' Go Marching In....That's What we call Freedom!  

      

You pose the questions, the challenges, I endeavor to answer the bell before it rings; uncover your kind of news, everyday word maps,  down to earth...affirmative results = Confidence....character.....courage.....Try me.  Spend a few seconds, learn a lot. I come at you several ways; audio(my program collages on mp3), insightful videos....entertaining visuals......articles, notices, warnings....Storytelling......reminiscing.......minstrels.......Dancing competition....ultimatums.   information, and Vital Answers.

Near the end of World War 11, it was Hiroshima and Nagasaski; in 2001, this nation got a nasty taste of terror. But will the gravity of the Hiroshima devastation engulf the US. What goes around comes around! The way we're going with our fraud, intimidation and retaliation, it's an unsafe bet that the next such explosion or tragedy won't happen in the US!

New York: World Trade Center Towers: Were bombs planted, and who did so. Would you bet  it could be the greedy?

Kaiser Fraud, Corruption & Cover Ups, Kaiser Retaliation

This isn’t the first time Kaiser Permanente has interfered with a union vote, which is why its Labor-Management Partnership is such a huge farce. We have been receiving complaints from Kaiser employees for years about the leaders of the SEIU working against labor for the benefit of management and their own wallets. Of course it was all over the news when NUHW lost to SEIU, but barely a whimper now that it has been brought to light that KP illegally helped them to win. BeyondChron has the full story:

Immigration: Do immigrants rate the same rights as citizens? Do they even have the right to a job? The Obama Administration says yes....and from all evidence, at the expense and exclusion of US Workers, Pensioners, Retirees and the Unemployed.

Thursday, September 1, 2011 Hilda Solis Saves The Illegal Laborers The Obama administration is entirely uninterested in protecting the rights of most Americans, but when it comes to protecting the rights of illegal immigrant workers, they're johnny-on-the-spot. In fact, last week Labor Secretary Hilda Solis signed partnership agreements with a number of Latin American ambassadors to make sure the "rights" of their expatriates in the illegal labor market are fully protected.  Try the audio trailer below.....Mp3

 

 

 

Have You Heard the News?

You're forewarned. The US Government is finishing what the Bush and Clinton Administration started. Nationalizing employee  pension benefits.

Thursday, March 4, 2010 Demand that Congress Pass the "Keep Your Hands Off My 401(k) Act of 2010"

As I wrote in January:

Last May, I wrote about the rumor that the Obama administration might seize funds from American's 401k and IRA accounts. Last week, Bloomberg pointed out: The Obama administration is weighing how the government can encourage workers to turn their savings into guaranteed income streams following a collapse in retiree accounts when the stock market plunged. The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort... There is “a tremendous amount of interest in the White House” in retirement-security initiatives, Borzi, who heads the Labor Department’s Employee Benefits Security Administration, said in an interview. In addition to annuities, the inquiry will cover other approaches to guaranteeing income, including longevity insurance that would provide an income stream for retirees living beyond a certain age, she said. “There’s been a fair amount of discussion in the literature taking the view that perhaps there ought to be more lifetime income,” Iwry, a senior adviser to Treasury Secretary Timothy Geithner, said in an interview... One proposal raised by Iwry as co-author of a paper while at the Retirement Security Project, before joining the administration, has reached Congress. A bill requiring employers to report 401(k) savings both as an account balance and as a stream of income based on an annuity was introduced on Dec. 3 by Senators Jeff Bingaman, a New Mexico Democrat, Johnny Isakson, a Georgia Republican, and Herb Kohl, a Wisconsin Democrat........more.....

The Office of the Inspector General sounded the alarm more than 15 years ago, October 01, 1996. The conflict of interest and corruption charges have gotten worse:

Semiannual Report to the Congress October 1, 1996 - March 31, 1997

DOL Needs to Measure the Long-Term Impact of Its Programs

Another issue that continues to require major departmental and congressional attention is that of ensuring the security of pension assets, which now total close to $3.5 trillion. Because of the nature of these assets -- large sums of dollars, entrusted for deposit and long-term investment for a future benefit -- the potential for serious abuses exists. My office’s most significant concerns in this area are that the Department effectively ensure that pension funds are deposited fully to workers’ accounts in a prompt manner and that funds be safe while held in trust. The Department has taken steps, through revamped regulations, to help ensure that pension funds are fully and appropriately deposited. However, while these regulations reduce the time in which someone could temporarily use the pension funds inappropriately and then deposit the funds without being detected, they will not prevent individuals inclined to do so from Ensuring Pension Assets are Safeguarded 6 Semiannual Report to the Congress October 1, 1996 - March 31, 1997 Ensuring Pension Assets converting funds for their own use.

That type of activity needs to are Safeguarded While Held in Trust be addressed through an aggressive criminal enforcement program. Therefore, enforcement and oversight of this area needs to remain a priority of the Department. Legislation Needed to The OIG also has long-standing concerns with respect to ensuring Improve Audits of that funds are safeguarded while they are held in trust by plan Pension Plans and Reporting of Violations administrators, service providers, or trustees. Chief among our recommendations in this area is the need to repeal ERISA’s limited scope audit provision, which results in inadequate auditing of pension plan assets. This provision exempts from audit all pension plan funds that have been invested in institutions such as savings and loans, banks or insurance companies alreadyregulatedbyFederalorStateGovernments. At the time ERISA was passed two decades ago, it was assumed that all of the funds invested in those regulated industries were being adequately reviewed. Unfortunately, as we have found from the savings and loan crisis, that is not always the case. Currently, because of this provision, independent public accountants (IPAs) conducting audits of pension plans cannot render an opinion on the plan’s financial statements in accordance with professional auditing standards.

It is important to note that the disclaimer of any opinion on the financial statements includes even those assets that are not held by financial institutions. These “no opinion”’ audits provide no substantive assurance of asset integrity to benefit participants or the Department. The OIG has also recommended that IPAs and plan administrators be required to report serious ERISA violations directly to the Department. This requirement will enhance oversight of pension plan assets, ensure the timely reporting of violations, and involve accountants in the kind of active role that they are supposed to play in the safeguarding of pension assets, by providing a first line of defense to plan participants through their timely and direct reporting of potential problems with employee benefit plans.

US Labor Secretary Hilda Solis: While workers at Pacifica Radio and Kaiser Permanente see their pensions raided, the Secretary either has no clue or doesn't care:

     

Labor Department and President Barack Obama Team Up

on behalf of undocumented workers. Some charge conflict of interest inherent in their actions.

Does the US Senate Support pay for people who are not certified legal? Here's your answer.

 Immigration Stance

Find Out Where Your Congressional Representative Really Stands

Senator Dianne Feinstein's Record On Immigration Reform And Illegal Aliens

Senator Dianne Feinstein is a Democrat currently serving California and has served in the Senate from 1992-Present. Senator Dianne Feinstein has had a fairly good record when it comes to border security. There are currently at least 12 million (with estimates reaching as high as 30 million) illegal aliens in this country. The first line of defense is controlling our porous borders. Senator Dianne Feinstein seems very concerned about securing our borders........more.....

How about US Senator Barbara Boxer on Immigration Reform: It is clear that neither she or Feinstein are in agreement with the Labor Secretary that Immigrants should have the same rights as US Documented people, legal or not. 

Senator Boxer on Comprehensive Immigration Reform Friday, July 1, 2011 Dear Friend: I am proud to co-sponsor a bill that Senator Robert Menendez (D-NJ) recently introduced to reform our nation’s broken immigration system. The Comprehensive Immigration Reform Act of 2011 (S.1258) would strengthen border security, enhance employee verification laws, and provide a pathway to citizenship for undocumented immigrants in the United States who pay taxes, learn English, pay a fine, pass a background check, and go to the back of the line. In one of her television interviews, Boxer's omission spoke volumes about granting rights to undocumented workers.

 

 

More Good News for Union Bosses: Department Of Labor Eliminated Conflict-of-Interest Disclosure by Don Loos

On the 26th of October, DOL rescinded the 2007 Form LM-30 (conflicts-of-interests reports) and ignored statutory language to eliminate thousands of union officials from disclosing potential conflicts-of-interests when it created the 2011 Form LM-30. DOL’s Office of Labor-Management Standards (OLMS) continued to lower standards by creating new exclusions and loopholes for ethically-challenged union officials to hide their activities.

As previously noted on BigGovernment.com, Obama’s OLMS Director John Lund has his own conflict-of-interest problems since he arrived at the U.S. Department of Labor regarding his Big Labor clients. Lund has teamed up with similarly-conflicted former AFL-CIO lawyer, and now DOL’s Deputy Solicitor of Labor Deborah Greenfield. (Greenfield was suing DOL to try to eliminate 2007 Form LM-30 disclosure reports, the one’s that the Solicitor of Labor’s office just approved eliminating.) It is not surprising with these two at DOL, that it has chosen to promulgate a rule that guts union officer conflicts-of-interest reporting. John Lund’s union clients and Deborah Greenfield’s AFL-CIO comrades will directly benefit from DOL’s new rule, and under their advice will accomplish what Greenfield’s AFL-CIO lawsuit couldn’t accomplish through the courts..........more....

Identify Theft = Document Doctoring x Mortgage Foreclosure

If you are a homeowner and still owe on your mortgage, you are bound to lose it!:

Editor’s Comment: At the heart of the entire mortgage meltdown is identity theft by the banks and investment banks. They take your identity, merge it with the identities of thousands of other people and sell it to investors under false pretenses leaving you holding the bag not knowing who to pay or if you still owe anything after the insurance, bailouts and cross collateralization.)

Proof that Regulators Knew of and Allowed Debt-Hiding Accounting Tricks Like Lehman’s Repo 10

How Washington Abetted the Bank Job

"How does one propose “sound practices” for practices that are inherently unsound? Yet that is what our regulatory guardians did. The statement is powerful evidence of the permissive approach bank regulators took toward the debt-dissolving financial products that our banks had been developing, hawking and using themselves for years. And it’s good reason for Americans to be outraged by the “who me, what, where?” reaction of Mr. Bernanke and the S.E.C. to the revelation of Lehman’s Repo 105 scam".

"Any minute now, expect to hear that the Treasury, the Office of the Comptroller of the Currency, the Office of Thrift Supervision and the Federal Deposit Insurance Corporation — our other federal bank regulators — were just as shocked that Lehman used make-believe sales to hide its ocean of red ink.

Well, the truth is this: The collapse of Enron back in 2001 revealed that the biggest financial institutions, here and abroad, were busy creating products whose sole purpose was to help companies magically transform their debt into capital or revenue. At the time, there were news reports about Merrill Lynch pretending to buy Nigerian barges from Enron, JPMorgan Chase dressing up its loans to Enron as commodity trades and Citigroup disguising Enron debt as profits from Treasury-bill swaps".

Warning: Relying on the US Department of Labor to help resolve your pension crisis is

dangerous, and may be hazardous to your health:

Elevated to cabinet-level status in 1913, the U.S. Department of Labor (DOL) exists to improve working conditions and expand employment opportunities for Americans. For fiscal year (FY) 2012, the President requests nearly $110 billion ($12.8 billion in discretionary) to support the efforts of the agency, which currently employs more than 17,200 workers. To better serve the American workforce and taxpayers, the Labor Department must limit and focus existing programs, as well as eliminate wasteful practices and programs. Improving Management to Control Costs and Identify and Prevent Waste and F raud. Taxpayers must have absolute confidence that federal agencies are not wasting their hard-earned dollars. The Labor Department, however, disagrees and recently failed to comply in an audit of its finances. For the first time in over a dozen years, the agency could not issue an "unqualified audit report - meaning it failed to produce sufficient information for independent auditors to make an informed judgment on its finances. 1 The inability of the Department to submit the requisite information stemmed from problems associated with its New Core Financial Management System, as well as ignoring warnings from its auditor. While KPMG, the auditor, warned the Department in late 2009 of a number of risks associated with implementation, the agency failed to address identified risks. As a result, KPMG found this contributed to DOL facing many significant challenges related to its financial reporting process".

2 While DOL re-submitted the necessary information to receive a qualified audit in March 2011, the final audit still found four material weaknesses and two significant deficiencies in the Labor department's financial management system, making it the only executive agency to have multiple new material weaknesses last year. According to the independent audit conducted by KPMG, and certified by the Office of Inspector General, DOL does not have sufficient controls over financial reporting and budgetary accounting, lacks adequate controls over access to key financial systems, and needs to improve how it prepares and reviews journal entries. In addition, the audit found the agency lacked sufficient control over its payroll and failed to prevent untimely and inaccurate processing of certain transactions. At the same time, DOL was also in violation of two federal laws intended to promote the integrity of financial management in the federal government. This type of mismanagement must be rectified, immediately. Congress should continue vigorous oversight of DOL's financial management system until all material weaknesses and deficiencies are fully resolved.

 

What's this, Employment insurance benefits for millionaires?

Ending Unemployment Subsidies for the Wealthy. Unemployment benefits should only go to people who need them. Yet, thousands of individuals with adjusted gross incomes exceeding $1 million are routinely receiving unemployment benefits. ? As many as 2,840 households who reported an income of $1 million or more on their tax returns were paid a total of $18.6 million in UI benefits in 2008, according to the Internal Revenue Service. ? This included more than 800 earning over $2 million and 17 with incomes exceeding $10 million. ? In all, multi-millionaires were paid $5.2 million in jobless benefits in 2008..

When the median income of working Americans is less than $50,000,10 it is illogical for the government to consider an individual earning millions of dollars eligible for UI. Why should someone struggling to make ends meet working full time, or two jobs, pay into a system that provides benefits to someone not working, yet earning millions of dollars a year? The U.S. Senate voted unanimously in April 2011 to end UI for millionaires and billionaires, a reform that would save $20 million annually. Congress should complete the work begun by the Senate and enact this legislation. Congress should also carefully consider ending federal unemployment subsidies below that level. For example, one estimate shows that ending subsidies for individuals with taxable incomes over $120,000 would save $3.3 billion over the next decade/

What!! Did you say "Program Mismanagement and Fraud?

Curb Improper Payments.

As more Americans rely on unemployment benefits during the economic downturn, program mismanagement and fraud have increased. According to the Office of Management and Budget (OMB), the UI program recorded $17.5 billion in improper payments in 2010, with an improper payment rate of 11.2 percent.12 The vast majority of these erroneous payments were to individuals who did not meet the active work search requirements. KMPG audit.

The Math Is Clear: We Cannot Afford to Lose Our Defined Benefit Pension

Kaiser is proposing to eliminate our defined benefit pension plan and replace it with a 401(k). Here’s an example that illustrates the impact of Kaiser’s proposal:

   

Let’s say an employee was hired on January 1, 2010 with a start rate of $39.47per hour and received wage increases of 3% in each year of his/her 18 years of employment, with the employee retiring at the end of 2027. What would the employee’s retirement benefit be under (1) our current plan versus (2) the one proposed by Kaiser? (1) OUR CURRENT “DEFINED BENEFIT” PENSION PLAN: The employee would receive a monthly payment of $2,784 for the rest of her life. VERSUS (2) KAISER’S PROPOSED “DEFINED CONTRIBUTION” 401(k) PLAN: If Kaiser contributed 5% of the employee’s annual income to a 401(k) account and the employee received a very generous return of 6% per year on his/her 401(k) investments, the employee’s 401(k) account would have only $157,602 when s/he retires. How long would that total last? If the employee withdraws $2,784 each month (which is the monthly payout guaranteed under our current pension plan), then his/her 401(k) account would last only 5.6 years. After that, nothing would be left. We Will Not Give Up Our Futures For more information contact an NUHW Bargaining Team member or visit www.kaiserunited.org. 

George Zornick George Zornick | | Syndicate content RSS Feed Action and dysfunction in the Beltway swamp. Text Size A | A | A Why Hasn't the Government Gone After Mortgage Fraud?

George Zornick on December 5, 2011 - 12:45pm ET One of the most important questions to arise out of Washington over the past three years, and one that Democrats and defenders of the administration often dance around, is why big financial institutions haven’t been punished for their role in the mortgage crisis: for pushing bad loans beforehand and for engaging in shady foreclosure practices afterward. There has not been a single prosecution of a high-ranking executive nor Wall Street firm for playing a part in the meltdown. Much of the analysis about the administration’s response to the global financial crisis focuses on the Dodd-Frank reforms, but that was a process in which the administration didn’t have total control—the legislation was subject to massive lobbying campaigns and horse-trading between members of Congress. But the administration could have acted unilaterally to punish the big financial firms who helped create the crisis and push people out of their homes afterwards—and in large part, it hasn’t. We’ve noted before the pressure that the administration is placing on New York Attorney General Eric Schneiderman to join a wide-ranging settlement with major banks over dubious foreclosure practices—one that would ask the banks to pay the meager sum of $20 billion to homeowners and investors, while granting them immunity from further prosecution. (Schneiderman has not yet relented). On 60 Minutes last night, Steve Kroft had an outstanding two-part piece that questioned why the Department of Justice has not pursued cases against big banks for pushing bad mortgages onto people in the run-up to the crisis, and lying to investors about the strength of those loans. Lest the Department of Justice claim that it is doing its best and that there isn’t overwhelming proof of wrongdoing—which is actually just what Lanny Breuer, head of the Department’s criminal division, said during the piece last night—Kroft presented some awful damning evidence. First he spoke with Eileen Foster, a senior executive at Countrywide Financial, the largest mortgage lender in the country. Foster was in charge of monitoring fraud at Countrywide—and found a whole ton of it:

The Fraud Started At the Very Top: With Government Leaders

The government's entire strategy now - as during the S&L crisis - is to cover up how bad things are. But it is not only a matter of covering up fraud that has already happened. The government also created an environment which greatly encouraged fraud. Here are just a few of many potential examples: The government-sponsored rating agencies committed massive fraud (and see this) The Treasury department allowed banks to "cook their books" Business Week wrote on May 23, 2006: "President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations." Regulators knew of and allowed the use of debt-hiding accounting tricks by the big banks Tim Geithner was complicit in Lehman's accounting fraud, (and see this), and pushed to pay AIG's CDS counterparties at full value, and then to keep the deal secret. And as Robert Reich notes, Geithner was "very much in the center of the action" regarding the secret bail out of Bear Stearns without Congressional approval. William Black points out: "Mr. Geithner, as President of the Federal Reserve Bank of New York since October 2003, was one of those senior regulators who failed to take any effective regulatory action to prevent the crisis, but instead covered up its depth"...........

Corruption: The Entire Government Strategy Is To Cover Up Fraud August 19th, 2011

Washington’s Blog August 19, 2011 SEC Attorney Reveals that Agency Has Shredded Documents for Decades to Cover Up Wall Street Fraud What should we make of the new revelations by Securities and Exchange Commission attorney Darcy Flynn (background here, here and here) that the SEC has been shredding documents for decades? As many commentators have noted, the SEC did this to cover up fraud on Wall Street. The Entire Government Strategy Is To Cover Up Fraud

Gangsters are trading in their drug trafficking skills for a trade that's much safer: Mortgage Fraud:

Crooks posing as borrowers and lenders.

It's never a good sign when television's most popular crook targets your industry, but Home Box Office (HBO[R]) gangster Tony Soprano's real estate scams are just a case of art imitating life. In the real world, organized crime--including gangs and drug dealers--attracted by 2006's projected $2.46 trillion origination market (according to the Mortgage Bankers Association [MBA]), see mortgage fraud against lenders as a market ripe for expansion. [??] "Those numbers are targets for the bad guys," says Rhonda Heilig, supervisory special agent for the Federal Bureau of Investigation's (FBI's) financial institution fraud unit.......more...

Tough to tell loan borrowers from mortgage lenders: In fact, the lending is a fallacy. It's you who provides your own loan money when you refinance or take out a home equity loan:

OPERATION QUICK FLIP FBI Issues Press Release on Mortgage Fraud Operation At a FBI/HUD-OIG/USPIS/IRS/DOJ press conference held today, the agencies released information concerning Operation Quick Flip: Operation Quick Flip is designed to show that federal law enforcement recognizes the mortgage fraud threat. The Federal Bureau of Investigation (FBI) Criminal Investigative Division (CID), the Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG), the United States Postal Inspection Service (USPS), the Internal Revenue Service (IRS), and the Department of Justice (DOJ) have participated in this case round-up to provide information to the public regarding the federal government's efforts to combat mortgage fraud. The federal agencies involved are targeting mortgage fraud groups in order to disrupt and dismantle them permanently. Mortgage Fraud is one of the fastest growing white collar crimes affecting the United States. Mortgage Fraud is defined as a material misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, purchase, or insure a loan...........

Not only are civil rights groups pressuring President Barack Obama about holding banks accountable, they want a lot more. We update our coverage of housing and regulatory issues with this article from a former member of the Obama Administration who was forced to resign. Van Jones.

FOR IMMEDIATE PUBLICATION CONTACT: RAFAEL NOBOA Y RIVERA,

202-455-4673 JANUARY 22, 2012

Obama must choose on housing: A sweetheart deal for the 1% or a fair deal for the 99%

By Van Jones & George Goehl

Rumor has it that on Monday, after months of negotiation with big banks, the White House may announce a settlement that would let the banks off the hook for their role in the foreclosure crisis – paying a tiny fraction of what's needed in exchange for blanket immunity from future lawsuits. We hope these rumors are untrue. President Obama has the ability to stop and change the direction of this sweetheart deal. He should reject any deal that benefits the one percent and lets the big banks get away with their crimes. Instead, the President should stand with the 99 percent and push for real accountability and a solution that will help millions of people in this country. Here are the hard facts about the housing crisis we face: 3.5 million Americans are homeless. 18.5 million homes sit vacant. Since 2007, more than 7.5 million homes have been foreclosed. Default and foreclosure rates are now several times higher than at any time since the Great Depression. If President Obama is serious about solving this crisis, he must ensure three things: First: The banks must pay a minimum $300 billion in principal reduction for homeowners with underwater mortgages and/or restitution for foreclosed-on families.

This is essential. Every effort to date to reboot the housing market has failed because it has not done the most essential thing – actually reduce the massive debt load carried by homeowners. As it stands, the deal likely to be announced Monday would have the banks pay only $20 billion, an astonishingly small fraction of what’s needed. Add up all the underwater homes in America, and there’s an estimated $700 billion in negative equity in the country, according to a recent study.* If banks fix what they broke and write down principals for all underwater mortgages, this would free up millions of people to pump billions of dollars back into local economies, create jobs, and ultimately generate revenue to help invest in things that will help our economy grow. Second: There must be a full-fledged, full-blown investigation into Wall Street financial fraud by the Department of Justice. There should be a task force with the staff resources, the authority, and the explicit mission of seriously investigating fraudulent behavior in the way home mortgages were securitized. Reports of the current deal suggest banks could walk away without any actual investigation into their role in the housing crisis. Third: There should be no civil or criminal immunity for the banks from future lawsuits. That means there should be no broad release of claims in any current or future negotiation or settlement. The banks must pay to help solve the crisis they played such a big role in creating.

They can afford it. U.S. banks raked in $35 billion in profits last summer alone and are currently sitting on a historically high level of cash reserves of $1.64 trillion. The six biggest banks -- Bank of America, Wells Fargo, Citigroup, JP Morgan Chase, Goldman Sachs, and Morgan Stanley -- hold assets totaling $9.5 trillion; and together paid an income tax rate of only 11% in 2009 and 2010, far below the federally mandated 35% corporate tax rate.* And that’s not all. Despite their bleak performance this year, the nation’s top six banks paid out $144 billion in bonuses and compensation for 2011, second only to the record $147 billion they paid out in 2007 at the height of the economic boom.* While banks enjoy record profits and the prospect of total immunity, millions of Americans are drowning in underwater mortgages. Everyday people are already out front, fighting against the malfeasance of the banks; the White House should stand with them. Our national leaders need look no farther than Atlanta, GA, for an instructive profile in courage.

Earlier this month, a community church in Dr. Martin Luther King’s old neighborhood refused to be ignored. In 2008, a tornado devastated the historic, 108-year-old Higher Ground Empowerment Center church, and they were forced to take out a loan to cover repairs. The loan went underwater and became harder and harder to pay back. For nearly four years, the church asked the bank to modify their loan, but BB&T bank ignored them. Instead, last week, the bank started to evict the church. Sound familiar? Anyone with an underwater mortgage can tell you: banks these days just can't seem to treat their own customers with decency and manners. However, after Occupy Atlanta staged a high-profile press conference, and 65,000 people signed a national petition by Rebuild the Dream, the church got BB&T bank to agree to modify their loan to something affordable and reasonable. This happy ending is, unfortunately, the rare exception. BB&T, after being shaken to their senses (and shamed in the media), came to the table and did the right thing. But millions of homeowners have no way to stage protests and press conferences. Abuse, fraud, conflicts of interest, and lawlessness have been endemic at every stage of the mortgage origination and foreclosure process. This chain of misconduct by many of the nation’s largest financial companies is at the root of the foreclosure avalanche and it’s time to demand a course of action that will resolve the current crisis and create jobs in the future.

If these folks in Atlanta can show this level of courage in standing up to a big bank, then certainly Obama and state attorneys general can show the same courage. The banks got their bail-out. Now we need a strong and fair settlement to help Americans drowning in underwater mortgages. ----- * New Bottom Line, “Win-Win Solution,” http://www.newbottomline.com/download_report_the_win_win_solution Van Jones is the Co-Founder and President of Rebuild the Dream, a new national organization working to fix America’s economy and restore our democracy. George Goehl is the Executive Director of National People’s Action, a network of metropolitan and statewide membership organizations dedicated to advancing economic and racial justice. National People's Action is a leading organization within a national coalition called New Bottom Line that challenges established big bank interests on behalf of struggling and middle-class communities.

Civil Rights Group Calls on President Obama to Investigate Wall Street Banks

ColorOfChange.org Joins Coalition to Deliver More Than 360k Petitions to the Obama Administration Helps Lead Effort to Hold Banks Accountable New York, NY – On January 19, just days before President Obama’s State of the Union address, a coalition of advocacy and public interest organizations including ColorOfChange.org, MoveOn, CREDO Action, Progressives United and New Bottom Line will deliver more than 360,000 petition signatures to the Obama Administration. The petition calls for a full federal investigation of Wall Street banks and their role in the housing crisis. “Our members understand that an investigation is essential for real accountability and preventing future reckless behavior from the banking and mortgage industries,” said Rashad Robinson, executive director of ColorOfChange.org.......more...

But when we take them up on their invitation and file a complaint, we get this response from a paralegal in the San Francisco Antitrust Division of the US Department of Justice:

"Dear Mr. And Mrs. Harper:

Thank you for your fax on January 17, 2012. Our office has jurisdiction to look into only those matters that raise questions under the federal antitrust laws(of course a paralegal would be well-versed on antitrust laws). Having reviewed the information you provided in the fax, we have determined that the situation you described does not appear to raise any such questions. Consequently, we are unable to take any action in response to your request". 

Now! below you'll notice the excerpt from a Department of Justice Press Release headlined: " 

CALIFORNIA REAL ESTATE INVESTORS AGREE TO PLEAD GUILTY TO BID RIGGING AT PUBLIC FORECLOSURE AUCTIONS Investigation Yields Eight Plea Agreements

The investigation into fraud and bid rigging at certain real estate foreclosure auctions in Northern California is being conducted by the Antitrust Division’s San Francisco Office and the FBI’s San Francisco office. Anyone with information concerning bid rigging or fraud related to public real estate foreclosure auctions should contact the Antitrust Division’s San Francisco Office at 415-436-6660, visit www.justice.gov/atr/contact/newcase.htm, or call the FBI tip line at 415-553-7400. Today’s charges are part of efforts underway by President Barack Obama’s Financial Fraud Enforcement Task Force (FFETF)";

 

 

All these agencies talk a great game, but do very little. The US Department of Labor is loaded with Braggadocio, but it is weak in getting results. That comes from the Government accounting office, which conducted a study recently about the departments' handling of consumer complaints. We've got nothing but buck-passing, overpaid, good ole boy network bureaucratic junkies. They get paid for steering us off course, and deflecting our complaints and concerns to the backburner. When we filed a complaint with the Labor Department about Pension Mismanagement and fraud, we were provided a complaint page and a form on the Labor Department Website. When we filed the complaint more than three times, we got no response. Eventually, after a fourth try, we got this email:

 "E-mail request from US Department of Labor

Dear Wendell Harper:

This is in response to your request for assistance concerning your complaint against your wife’s employer, Kaiser Foundation Health. You have repeatedly asked for an investigation of Kaiser Foundation Health to be conducted. The information you submitted to this Employee Benefits Security Administration (EBSA) office of the Department of Labor is not sufficient to determine whether violations of ERISA have occurred. Moreover, this office only provides technical assistance, and does not conduct investigations. We have, however, forwarded a copy of your inquiry to our EBSA San Francisco Regional Office, which has investigative jurisdiction over this situation.

The regional office is a joke. No complaint forum nor complaint form. No email address is provided. Responses usually go unanswered, at least in our case. 

Low and behold, the hits just keep on coming. Witness an article about the SEC and its shenanigans:

SEC Suddenly Pulls Plug on Corruption Settlement October 15th, 2010

  Steven Rattner Steven Rattner was on verge yesterday of settling charges for his role in a pension corruption scheme when the Securities and Exchange Commission suddenly postponed the vote to accept the settlement. Rattner, the former head of the U.S. Auto Task Force, was facing a $6 million settlement and a two-year disbarment from the securities industry when the vote of the five commissioners was dropped from the SEC’s calendar. Neither the reason for the postponement nor a new date for the vote are known. Rattner is still the target of a probe by New York Attorney General Andrew Cuomo for his role in a kickback scheme at private equity giant Quadrangle Group LLC. Rattner left the auto task force as Cuomo’s probe intensified. So far, Cuomo’s long-running investigation has prompted other states to begin similar probes and crackdown on placement agents, brokers who exploit political ties to reap millions of dollars of fees from investment companies that want to manage the public’s money.

Cuomo has recouped more than $100 million for the New York pension fund and captured seven guilty pleas, most recently from the former state comptroller Alan Hevesi. The former Democratic comptroller pleaded guilty to a felony for getting the benefit of hundreds of thousands of dollars of political donations and fees paid to a lobbyist and free luxury trips to Italy and Israel. New York’s comptrollers are the sole trustees of the state’s $132 billion pension fund. The SEC and Cuomo have suggested that Rattner improperly paid off a political operative to win the lucrative business of investing some of New York’s pension fund. The practice of making political contributions to pension fund officials to win investment contracts is also known as “pay-to-play.” Investigators alleged that Quadrangle won a $100 million investment from the state pension fund by engaging in improper “quid pro quo” arrangements.

They said this involved agreements to pay more than $1 million in “finder” fees to Henry “Hank” Morris, a former top adviser to Hevesi, and distribute a DVD of the film “Chooch,” produced by former Common Retirement Fund chief investment officer David Loglisci, who later plead guilty. In April, Quadrangle agreed to settle with the New York attorney general and the SEC. At the time, Quadrangle said: “We wholly disavow the conduct engaged in by Steve Rattner… That conduct was inappropriate, wrong and unethical.”

Your Pension Benefits are at great risk. Employers and outside private equity firms are scheming with state crooks nationwide to raid them and impose corporate buyouts, while taxpayers and private employees are on the hook for public pension benefits.

SPECIAL PAGE:

Tribune Editorial Lambastes Pension Corruption… Now It’s Time for A-Ville Leaders to Speak Out

It sounds like the Chicago Tribune is as sick of sleazy pension scams as we are. Today's above the fold editorial entitled "Yes, this is corrupt." calls for investigations into the pension rigging scams of politicians -- like that of 48th ward party boss Carol Ronen -- and union leaders who have been getting sweetheart pension deals. Th

'$1,400 bucks per household a year for 30 years' 

As we learn in a piece by Veronique de Rugy, $1,400 bucks per household a year for 30 years is the amount that a new paper by Professor Jonathan Rauh of the Kellogg School of Business and Robert Nova-Max of Rochester University shows that states will need to be able to pay in full the pensions of members of local and state public employee unions: [...] Without policy changes, contributions to these systems would have to immediately increase by a factor of 2.5, reaching14.2% of the total own-revenue generated by state and local governments (taxes, fees and charges). This represents a tax increase of $1,398 per U.S. household per year, above and beyond revenue generated by expected economic growth. In thirteen states the necessary increases aremore than $1,500 per household per year, and in five states they are more than $2,000 per household per year. Shifting all new employees onto defined contribution plans and Social Security still leaves required increases at an average of $1,223 per household. Even with a hard freeze of all benefits at today's levels, contributions still have to rise by more than $800 per U.S. household to achieve full funding in 30 years. As for how we got here, blame it on politicians (especially Democrats) and elections: [...] Public sector unions function as a monopoly provider of labor within a bureaucratic-political realm. Public sector unionism introduces an unelected body into policy-making, thereby undermining the sovereignty of the state. Public sector employees are able to influence through political lobbying of their -- employer-sponsors or politicians, who may seek to enhance union employment as a means of expanding their constituency. [...] In addition, however, public sector unions are also able to increase demand for their labor through the political, legislative, or regulatory process, thus increasing wages further than private sector unions are able to.

Read the whole thing.

And as for a little more detail on how we got to this point, Warner Todd Huston points out that all this has occurred because government unions have given millions to Democrats so that Democrats can write union-friendly laws and give union members outsized and unearned benefits with payscales higher than anyone's in the private sector. Then, when Democrats follow through with their union payoffs, unions give even more to the politicians for even more favors. It is a never-ending circle of favors and payoffs to each other in an incestuous system of which the voters have no influence. And as Huston goes on to aptly note, this destructive, anti-American cycle needs to be stopped. Remember, government unions never existed until about 1958. So they have not always been around. In fact, even the Left's patron saint, FDR, was wholly against government unions. follow-the-money.jpg

Mitt Romney’s presidential campaign is putting the spotlight on private equity, which public pension funds such as CalPERS and CalSTRS helped flourish and now need for better-than-average earnings. Romney became wealthy while leading Bain Capital, a private equity firm he said created “tens of thousands of jobs” by buying and then selling troubled or stagnant companies after making them efficient, better managed and able to grow and prosper. But conservative Republican candidates, Newt Gingrich and Rick Perry, accuse Romney of “looting” corporations and “vulture” capitalism, enriching a few while leaving a trail of layoffs, massive corporate debt and bankruptcies....more

                                           

Watch How Big a Role Do Private Equity Firms Play in U.S. Economy? on PBS. See more from PBS NewsHo

Public Pension Plans can play a key role in leverage buyouts

A private equity firm puts up a token amount, gets a larger down payment froma pension fund or other limited partner and borrows most of the money, using the takeover target’s assets as collateral. “Private equity owes its explosive growth largely to America’s pension funds,” a New York Times story said in April 2010. “Buyout funds raised $200 million in 1980 and $200 billion in 2007. According to Prequin, a financial data provider, public pension funds were the biggest contributors over that period and now have $115.9 billion invested in private equity.”.....more

If the US Government goes ahead with the settlement fiasco they're scheming to reach with mortgage and pension criminals, they're no different than the felons and no better. Why shouldn't they all go to jail. At the very least, these agencies ought to be disbanded, and the employees deleted. What do you and I need with millions of workers and directors telling us they can't represent us nor can they help us. Eliminate their budgets. Draft a referandum on their performances in office and get rid of all who don't measure up. Why do I say this....because these co-felons are making deals behind closed doors without our knowledge or consent:

"By MICHAEL GORMLEY August 12, 2011 ALBANY, N.Y. (AP) —

Wall Street's volatility has hit state pension funds just as they were beginning to recover from the recession, turning what was merely a troubled forecast into a potentially stormy future for taxpayers who are on the hook for billions in unfunded liabilities for government retirees. As for the millions of government clerks, engineers, janitors, teachers and firefighters in the retirement systems, they are protected by law or, as in New York, by the state constitution, to be backed up by tax dollars if necessary. Their benefits remain safe for life in guaranteed "defined benefit" pension plans that are disappearing in the private sector, where most employees are left to fend for themselves with 401(k) plans that they mostly or entirely fund themselves. California's main public-employee pension fund, the nation's largest, has lost at least $18 billion off its stock portfolio since July 1, about 7.5 percent of its $237.5 billion total asset value on June 30. Florida's pension fund has lost $10.7 billion since June 30, a decline of 8.3 percent for a fund now valued at $117.7 billion.

another excerpt:
As recently as last month, California's two public pension funds reported investment gains of more than 20 percent for the fiscal year ended June 30, largely driven by rising stock values. The increase came as both funds — one for teachers, the other for state and local government workers — were clawing their way back from losses in 2008 and 2009 that cost them up to one-third of their asset value. The recent losses are stoking fears again that taxpayers will have to bail them out at the expense of other programs that already have been subject to deep budget cuts. The state already faces an estimated $75 billion in unfunded public pension liabilities. "The stock market volatility just shows that the public budget should not be subject to the Dow Jones Industrial Average," said Dan Pellissier, president of California Pension Reform, a group that is preparing a ballot initiative to limit the amounts governments can spend for future pensions. Pellissier himself will qualify for a $5,000-a-month state pension when he turns 55 in five years after working in state government for two decades. Despite his own government pension, Pellissier said public employees should bear the investment risk for retirement benefits just as private-sector employees do through 401(k) plans.

As Government Nears Accord With Banks, Questions Swirl Over Scope Of Investigation

Shahien Nasiripour Shahien

Nasiripour shahien@huffingtonpost.com 

 

Our legislators keep manufacturing bills that regulators keep on ignoring unless it is an easy to prosecute, high profile case. Plenty of legislation, no enforcement. Now we've got HR 567, perhaps by two legislators with good intentions, but they don't do the enforcement. 

"Employee Pension Transparency H.R. 567 by News on February 9, 2011 in Government Employee Unions, Pensions, Pro Worker Legislation By Devin Nunes Congressman Devin Nunes (CA-21) and Senator Richard Burr (NC) announced the House introduction of the Public Employee Pension Transparency Act. (read the bill text) The legislation introduced in the House today was first introduced by Representative Nunes in December. It provides enhanced transparency for state and local pensions and establishes a clear federal prohibition on any future public pension bailouts by the federal government. http://nunes.house.gov/index.cfm?FuseAction=PressOffice.PressReleases&ContentRecord_id=0b23a5c8-19b9-b4b1-12a2-7b0322e740bd&Region_id=&Issue_id=B

Let me introduce you to one of the major violators of this act and ERISA: Introducing the Chief Executive officer of Kaiser Permanente, who is holding hostage, the pensions of many employees:

 and here is the personality who talks a great  game, but that's about it!

US Labor Secretary Hilda Solis

 

The Damage is Done.....we can't undo what's done....

The Wall Street Money Machine From Dodd-Frank to Dud:

How Financial Reform May Be Going Wrong

by Jesse Eisinger and Jake Bernstein ProPublica, June 3, 2011, 8:16 a.m. 

 President Barack Obama signs the Dodd-Frank Wall Street Reform and Consumer Protection Act alongside members of Congress and his administration in Washington, D.C., on July 21, 2010. (Rod Lamkey Jr/AFP/Getty Images)

Early last year, as they weighed whether to bar banks from speculative trading with their own money, congressional staffers turned to a key regulator for advice.

The response from Julie Williams, the chief counsel of the Office of the Comptroller of the Currency, was startling, according to people familiar with the conversations. Williams insisted new rules were unnecessary since this type of trading did not play a major role in the financial meltdown. 

To some, the emerging roadblocks reinforce a fear that Dodd-Frank, which was intended to touch on almost every aspect of the American financial system, may never provide the sweeping reform it promised. "It was doomed at the outset and nothing can possibly salvage it. We might even have been better off without it," said Arthur Levitt, a former chairman of the Securities and Exchange Commission.

posted comment on ProPublica website

"DF Compliance Person June 3, 2011, 10:44 p.m. I’m working on implementing Dodd-Frank Title VII at a large financial institution. I can’t speak to the other parts of Dodd-Frank, but as far as derivatives go, this article is quite slanted. The CFTC (which is a new regulator of many derivatives) has charged out of the gate and issued a truckload of proposed regulations (see here: http://www.cftc.gov/LawRegulation/DoddFrankAct/Dodd-FrankProposedRules/index.htm"

 

"Wall Street and The Financial Crisis: The US Senate Anatomy of a Financial Collapse April 13, 2011

In the fall of 2008, America suffered a devastating economic collapse. Once valuable securities lost most or all of their value, debt markets froze, stock markets plunged, and storied financial firms went under. Millions of Americans lost their jobs; millions of families lost their homes; and good businesses shut down. These events cast the United States into an economic recession so deep that the country has yet to fully recover.

This Report is the product of a two-year bipartisan investigation by the U.S. Senate Permanent Subcommittee on Investigations into the origins of the 2008 financial crisis. The goals of this investigation were to construct a public record of the facts in order to deepen the understanding of what happened; identify some of the root causes of the crisis; and provide a factual foundation for the ongoing effort to fortify the country against the recurrence of a similar crisis in the future. Using internal documents, communications, and interviews, the Report attempts to provide the clearest picture yet of what took place inside the walls of some of the financial institutions and regulatory agencies that contributed to the crisis.

The investigation found that the crisis was not a natural disaster, but the result of high risk, complex financial products; undisclosed conflicts of interest; and the failure of regulators, the credit rating agencies, and the market itself to rein in the excesses of Wall Street. While this Report does not attempt to examine every key moment, or analyze every important cause of the crisis, it provides new, detailed, and compelling evidence of what happened. In so doing, we hope the Report leads to solutions that prevent it from happening again".

The US Senate Permanent Submcommittee on Investigations/Committee on Homeland Security and Governmental Affairs

But what does jfk's death have to do with the federal reserve, lyndon johnson and e howardd hunt?  What did Abe and John Kennedy have in common. Defiance of the Secret Society: The same warning to Kennedy as was given to Abraham Lincoln: "Expose the Fed, and you're dead"!

Don't blame Kennedy's death on Lee Harvey Oswald. Or so we are told. It is  strongly implied that E. Howard Hunt did the dishonors.

The bankers understood the threat a government-issued currency represented to their wealth and power. The London Times wrote of Lincoln's move...

 The Constitutional Bar - N - Grill The Federal Reserve with Lincoln and kennedy

“If that mischievous financial policy, which had its origin in the North American Republic, should become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without a debt. It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in the history of the civilized governments of the world. The brains and the wealth of all coun­tries will go to North America. That govern­ment must be destroyed, or it will destroy every monarchy on the globe.”

Following this editorial, the governments of Europe, as much under the control of the banks as the present US Government, offered to support the Confederacy, but had to quit when Lincoln issued the Emancipation Proclamation, as their own people refused to support the side in the war that favored slavery. After the Union won the civil war and it was obvious that Lincoln would keep his greenbacks in circulation, he was assassinated. Popularized history portrays the assassination as the work of John Wilkes Booth who we are told thought the outcome of the war would be reversed by Lincoln's death (along with simply wishing to be more famous than his father Edwin Booth).

But the historical truth is that 8 other conspirators were arrested and sentenced for the plot. Of the 8, one individual stands out. Samuel Arnold was convicted for being one of the core plotters, but was provided with a lawyer by no less a figure than Secretary of War Edwin Stanton, and then pardoned by President Andrew Johnson! Following Lincoln's death, Congress immediately repealed the Greenback law, celebrating the end of slavery by re-enslaving all America to the bankers! "The struggle that was to rid the country of human slavery of the black race, however, was also to fasten upon the whole nation an economic or money slavery, which has endured to the present time..."-- Dr. R.E. Search in Lincoln: Money Martyred Kennedy issued his US Notes for much the same reason. On June 4, 1963, Kennedy signed Executive Order 11110, which authorized the US Treasury to issue a new form of silver certificate.

 

Kennedy's Funeral                                                                      Lincoln's Funeral                                                       Civil Rights Meeting

Kennedy issued $4,292,893,825 of cash money; free of debt and free of interest. It was a sufficient amount to allow the nation to operate without the private Federal Reserve. Just 5 months later, JFK was shot by the "crazed lone nut" Lee Harvey Oswald(wrong new confession: check out E. Howard Hunt on this page!). Almost immediately after Kennedy's death, the US Notes were pulled out of circulation and destroyed except for samples in the hands of collectors. Below: Kennedy's "big event" orchestator is behind him. He's wearing shades in the stadium.            

 

 "No man has a natural right to commit aggression on the equal rights of another, and this is all from which the laws ought to restrain him." -- Thomas Jefferson

Our government engages in a practice politely called "deficit spending". Other terms which would aptly describe the practice include "counterfeiting" and "check kiting", but it all comes down to the same thing; spending money one does not actually have. What would be a prison offense for a normal citizen was rendered legal for the government by the Federal Reserve Act. This was not a popular piece of legislation. In fact the Democrats had campaigned in 1912 on a platform of rejection of the creation of a private bank in charge of a fiat money system. Nevertheless, on December 23, 1913, taking advantage of the absence of congressmen opposed to the creation of a fiat monetary system during the Christmas break, the Federal Reserve Act was passed. Years later, during the great depression, Congressman Louis T. McFadden (who served twelve years as Chairman of the Committee on Banking and Currency) asked for congressional investigations of criminal conspiracy to establish the privately owned 'Federal Reserve System'.

He requested impeachment of Federal officers who had violated oaths of office both in establishing and directing the Federal Reserve -- imploring Congress to investigate an incredible scope of overt criminal acts by the Federal Reserve Board and Federal Reserve Banks. McFadden even suggested that the Federal Reserve deliberately triggered the great stock market crash of 1929, in order to eventually force the passage of the Emergency Banking Act of March 9, 1933, which suspended the gold standard. In describing the FED, McFadden remarked in the Congressional Record, House pages 1295 and 1296 on June 10, 1932: "Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal reserve banks. The Federal Reserve Board, a Government Board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through the misadministration of that law by which the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it".  product of decades of government corruption, will become apparent to all. 

Have you heard about the straw that broke the camel's back. Here's How "john f. kennedy.com" presents the scenario:

John F. Kennedy  and Abraham Lincoln vs The Federal Reserve

  

With true patriotic courage, JFK boldly faced the two most successful vehicles that have ever been used to drive up debt: 1) war (Viet Nam); and, 2) the creation of money by a privately owned central bank. His efforts to have all U.S. troops out of Vietnam by 1965 combined with Executive Order 11110 would have destroyed the profits and control of the private Federal Reserve Bank.

Second excerpt:

President Kennedy was assassinated on November 22, 1963 and the United States Notes he had issued were immediately taken out of circulation. Federal Reserve Notes continued to serve as the legal currency of the nation. According to the United States Secret Service, 99% of all U.S. paper "currency" circulating in 1999 are Federal Reserve Notes.

file:///Users/mary/Downloads/John-F-Kennedy.net%20-%20John%20F.%20Kennedy%20vs%20The%20Federal%20Reserve.html

If you think the above is a stinker,  wait'll you see this author's analogy of how the Nation is in deep trouble. , "what happened.com shows us about how the phony farmer is akin to the phony government agents and corporate ceo's!

The United States Is In Deep Doodoo! 

Michael Rivero

The following article was first written in 1998. I am relinking it here not so much as to say "I told you so", but to point out that the long term economic future of the United States was obvious, or should have been obvious, to the people who are awarded lofty degrees and paid huge salaries to comprehend such things. Instead, the economists persisted in explaining away the visible signs of gathering troubles and earned their salaries by justifying why the policies that robbed the poor to give to the rich should continue unabated.

 

"Our government engages in a practice politely called "deficit spending". Other terms which would aptly describe the practice include "counterfeiting" and "check kiting", but it all comes down to the same thing; spending money one does not actually have. What would be a prison offense for a normal citizen was rendered legal for the government by the Federal Reserve Act. This was not a popular piece of legislation. In fact the Democrats had campaigned in 1912 on a platform of rejection of the creation of a private bank in charge of a fiat money system. Nevertheless, on December 23, 1913, taking advantage of the absence of congressmen opposed to the creation of a fiat monetary system during the Christmas break, the Federal Reserve Act was passed".

 

 

"United States Congressional Record - March 17, 1993 - Vol. #33, page H-1303 - Speaker- Rep. James Traficant, Jr. (Ohio) addressing the House: "Mr. Speaker, we are here now in chapter 11. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner's report that will lead to our demise."

file:///Users/mary/Downloads/The%20United%20States%20Is%20In%20Deep%20Doodoo!%20%20%20WHAT%20REALLY%20HAPPENED.html

Federal Reserve Notes V United States Notes:

  The Speech that may have killed JFK        Who killed JFK? E. Howard Hunt makes a strong case as to who did it. !                                                                              confession of a killer? Did Satan and Hunt connect? Sounds as if they did.        

Hear Hunt give this message in reverse. Gives one food for thought, and  hopefully, for research. It's all connected to the events of

today, with all the fraud, greed, bribery and criminal enterprises in and out of government. 

                       

 

 

But what we can do is make the big banks pay and make the legislators and regulators face criminal penalties.

  

naked capitalism

IRS Likely to Expand Mortgage Industry Coverup by Whitewashing REMIC Violations

As established readers know, we’ve been writing since mid 2010 about the widespread, possibly pervasive, failure of mortgage securitization originators to convey the notes (the borrower IOU) to securitization trusts as stipulated in the deal documents, well before the robo signing scandal broke. This abuse matters because the transaction procedures were designed carefully to satisfy certain legal requirements, among them rules contained in the 1986 Tax Reform Act regarding REMICs, or real estate mortgage investment conduits, which required that the securitization trust receive all its assets by 90 days after closing and that all assets conveyed to the trust have to be “performing”, as in not in default. Failure to comply with the rules is a prohibited act and subject to taxation at a rate of 100%, and additional penalties may apply. Now, with the Federal government under enormous budget pressure, shouldn’t the authorities be keen to go after tax cheats? The headline of a Reuters article, “IRS weighs tax penalties on mortgage securities,” would suggest so. But don’t get your hopes up. The lesson is don’t jump to conclusions when big finance is involved.

An overview from the article:

An anti-prosecution Shelter for tax dodgers who create phony tax shelters. We could never work such a deal!

[edit]Deferred prosecution agreement Under a deferred prosecution agreement, KPMG LLP admitted criminal wrongdoing in creating fraudulent tax shelters to help wealthy clients dodge $2.5 billion in taxes and agreed to pay $456 million in penalties. KPMG LLP will not face criminal prosecution as long as it complies with the terms of its agreement with the government. On January 3, 2007, the criminal conspiracy charges against KPMG were dropped.[1] However, Federal Attorney Michael J. Garcia stated that the charges could be reinstated if KPMG does not continue to submit to continued monitorship through September 2008.[2]

What do the words, "fraud" "Greed" and "Deceit" mean to you? Maybe you don't know what they mean, but I do. Each time we mention these words....your finances are slipping away....your pension held hostage.....and your mortgage payments going to the "Greed", "Fraud", and "Deceit: Each page of this website contains information indigneous to you, my friend, but what you do with it is up to you. I know what I'm doing ab out these economic beasts. What about you?

Foreclosure Cemetery: Where Auctions come to die! The bridge from trauma to treasure!

 Are you getting the point...the message! We're sending you a platform not only for fighting back, but keeping and winning ownership of your home: If you're employed or retired, and count on a pension benefit, beware: Your quality of life is seriously jeopardized! Are you reading, listening, taking action? 

California’s real pension crisis!Private sector retirement                                               

Securiy Time Bomb

By Yvonne R. Walker President, SEIU Local 1000

California is facing a retirement security crisis. Despite the headlines, the crisis is not the cost of public employee pensions.

Public employees across California, including the members of SEIU Local 1000, have shown a willingness to make adjustments at the bargaining table and in the legislature to ensure that CalPERS is adequately funded. The real pension crisis in California is among private sector employees. Half of all Californians will spend their retirement years in poverty, according to a recent UC Berkeley study, with most of these workers relying almost entirely on Social Security. This is wrong on several levels. It is morally wrong for our senior citizens to be forced to live in poverty after spending a lifetime working—or work

Don't be in despair, and don't for a minute trust attorneys, judges, prosecutors or regulatory agencies.  None are siding with the consumer, taxpayer,  mortgage borrower, debtor, or homeowner. They're compromised. The few good apples in the barrel are buried.

We are the source of their wealth and celebrity status. We are viewed as easy pickings. Just because the information I post is free of charge, you best not take for granted that it will remain that way. You will look up one day, needing to avail yourselves of this critical information and it won't be there! Watch out, because the clock is ticking.....ticking....ticking. 

 

"Class Action vs Mortgage Electronic Registration Systems, Gmac, Deutsche Bank, Nation Star, Aurora, Bac, Citi, Us Bank, Lps, Et Al The link above is to a proposed class action Complaint that charges the servicers and MERS with fraud and consiracy to commit fraud and details how they did it. This explains all of the intricate maneuverings that were orchestrated by the pretender lenders, MERS and the servicers and ratings companies. All in bed together since the repeal of Glass-Steagall Act. Charged with RICO violations UCC violations SEC violations and/or IRS fraud. Download this Pleading and learn how the servicer does not have any rights to foreclose. Nor does the originator, nor does MERS. This is a must read!"

file:///Users/mary/Downloads/Economic%20Crisis%20Survival%20Guide%20Center%20-%20Case%20Studies.html

Unless you are vigilant, Big Banks will use their cons to steal your home, as they continue to do with the help of the judicial system, attorneys, regulatory agencies, city and county governments.

These guys are required by law to pay taxes on mortgage loans, and to report the hefty fees they charge, but they don't. They pawn bad loans to the government that wreak of fraud, and get paid double their efforts, and guess at whose expense?

Truth or Consequences.....or

Truth and Consequences? We all better pray

that former IRS

Watchdog Joe Bannister is way off, but I'm afraid he

isn't offline!

 

 

 

Is Joe Bannister wrong? Off his rocker? Or could he be on the mark with his allegations?

Joe Bannister explains in a interveiw the

2 year investigation he did, resulted in the

IRS forcing him to resign.

Why exactly was Bannister forced to resign? For my money, I am afraid he's right! Based on my experiences with the agency, I would believe any of their former employees who went whistleblower. We need more control, period, else we'll all be grist for the holocaust mill.

More than just the Federal Reserve. The Department of Justice, The US Department of Labor and The SEC. The Internal Revenue Service is sitting down on the job. But that doesn't make these actions of fraud legal or ethical. What should be happening is that those who are obliged to regulate and don't should be eliminated. The problem is that we hear the words "fraud" and "deceit" so often that they begin to become acceptable. Big tragedy!

"Foreclosuregate: Time to Break Up the Too-Big-to-Fail Banks

Looming losses from the mortgage scandal dubbed “foreclosuregate” may qualify as the sort of systemic risk that, under the new financial reform bill, warrants the breakup of the too-big-to-fail banks. The Kanjorski amendment allows federal regulators to pre-emptively break up large financial institutions that — for any reason — pose a threat to US financial or economic stability. Although downplayed by most media accounts and popular financial analysts, crippling bank losses from foreclosure flaws appear to be imminent and unavoidable.

The defects prompting the “RoboSigning Scandal” are not mere technicalities but are inherent to the securitization process. They cannot be cured. This deep-seated fraud is already explicitly outlined in publicly available lawsuits. There is, however, no need to panic, no need for TARP II, and no need for legislation to further conceal the fraud and push the inevitable failure of the too-big-to-fail banks into the future".

UNITED STATES DISTRICT COURT

WESTERN DISTRICT OF KENTUCKY LOUISVILLE DIVISION   CASE NO. ____________________ CLASS ACTION COMPLAINT ELIZABETH FOSTER; JOHN R. FOSTER; REPRESENTATIVE CLASS PLAINTIFFS;CONNIE WELLS; ROYCE WELLS;  on behalf of themselves and others so situated AUGUSTA MASON; as putative class members BRIAN MASON; SHERILL A. MOODY; MARK MOODY and; CHARLOTTE A. WOODWARD

v.

MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. AND, MERSCORP, collectively as MERS; GMAC MORTGAGE LLC, RESIDENTIAL ACCREDIT LOANS, INC., AND RESIDENTIAL FUNDING COMPANY, LLC collectively as GMAC ; DEUTSCHE BANK NATIONAL TRUST COMPANY; NATIONSTAR MORTGAGE; AURORA LOAN SERVICES; BAC LOAN SERVICES; CITIMORTGAGE; US BANK;ROTHFUSS; MANLEY DEAS KOCHALSKI PLLC; DINSMORE & SHOHL LLP; REISENFELD & ASSOCIATES, LPA, and; MIDDLETON & REUTLINGER

DEFENDANTS ****************************

Come the Representative Plaintiffs, by counsel, on behalf of themselves and others so situated as putative class members pursuant to Fed. R. Civ. P. 23. and for their Class Action Complaint against the name Defendants and yet to be named Defendants, make their claim for treble and punitive damages, costs and attorneys fees under 18 U.S.C. 1962 and 1964, otherwise known as the “racketeer Influenced and Corrupt Organizations Act,” hereinafter (“RICO”) and for all violations of law heretofore claimed.

An ongoing criminal investigation has been in place in the state of Florida by both the Florida Attorney General and the Justice Department. Upon information and belief, a parallel investigation is ongoing in the state of Kentucky and at least three other states. In September 2010, the national press began reporting that one of the Defendants, GMAC, had placed a moratorium nationwide on foreclosures, based on the illegalities in the policies, practices and procedures of their own employees and the law firms representing their interest in foreclosures.

 

Judges who hand down rulings in favor of frauds should go to jail right with them. Politicians who take donations from these thieves are guilty of taking bribes. Here's an example of what they're doing in this article entitled: Are the big banks guilty of tax evasion: here' an excerpt:

"REMIC EVASION of TAXES AND FRAUD Neil Garfield

Receivable income consists or a complex maze designed to keep prying eyes from understanding what they are looking at. But it isn?t really that hard if you take a few hours (or months) to really analyze it.Under some twisted theory, most foreclosures are proceeding under the assumption that the receivable issue doesn?t matter. The fact that the principal balance of most loans were, if properly accounted for, paid off 10 times over, seems not to matter to Judges or even lawyers. ?You borrowedthe money didn?t you? How can you expect to get away with this?? A loaded question if I ever heard one. The borrower was a vehicle for the commission of a simple common law and statutory fraud.They lied to him and now they are trying to steal his house ? the same way they lied to the investor and stole all the money". 

You may be one of those taxpaying consumers who refuses to believe what they're reading. If you do, then you're a fool. These facts are not created by me, but by the many figures who are doing the same as I. Researching the web to find the bad banksters and the mobsters who rule under the shield of jurisprudence. MORE:

"Receivable income is the income the investor expects. So for example if the deal is 7% and theinvestor puts up $1 million the investor is expecting $70,000 per year in receivable income PLUS of course the principal investment (which we all know never happened).

2. Receivable income from loans is nominal ? i.e., in name only. So if you have a $500,000 loan to a borrower who has an income of $12,000 per year, and the interest rate is stated as 16%, then the nominal receivable income is $80,000 per year, which everyone knows is a lie.

3. The Yield Spread premium is achieved exactly that way. The investment banker takes $1,000,000 from an investor and then buys a mortgage with a nominal income of $80,000 which would be enough to pay the investor the annual receivable income the investor expects, plus fees for servicing the loan. So in our little example here, the investment banker only had to commit $500,000 to the borrower even though he took $1 million from theinvestor. His yield spread premium fee is therefore the same amount as the loan itself. Wouldthe investor have parted with the money if the investor was told the truth? Certainly not. Would the borrower sign up for a deal where he was sure to be thrown out on the street? Certainly not. In legal lingo, we call that fraud. And it never could have happened without defrauding BOTH the investor and the borrower".

The borrower is you, my friend:  wake up...everybody:

We often lynch politicians in effigy for taking the money and acquiescing to fraud, manipulation and intimidation. But what about the few who speak up and speak out? Do we support them? Well, this is our chance to do so, yours and mine. First of all, let's get one thing straight. There is no such thing as a lender, not if you're reading the information we're putting out. You'll notice that these loans are created by your signature, as the banks can't lend depositors money, and can't lend theirs. Second, we have a Senator in one state who, by asking a simple question, is treated thus by this "lender".

MICHELE REAGAN SENATE CANDIDATE GETS IT AND GETS SUED FOR HER TROUBLES WITHOUT DEFAULT!

Posted on April 6, 2010 by Neil Garfield

Finally a politician who puts principle ahead of politics!!

Michele Reagan, currently an Arizona legislator, deserves support not only for her campaign for Arizona State Senate, but for her battle with her lender. Her lender, Colonial Savings, decided to sue her for asking too many questions about how her loan was securitized. That’s right. She never missed a payment but she became concerned that her title and her money might be going the wrong way. So she did the only sensible thing — she asked. Enforcing her TILA and RESPA rights she asked a lot of questions about who holds her note, who owns her loan, who is the current beneficiary on her deed of trust, all of which seem to be different entities. Colonial did what you’d expect. Stonewalled. And when she pressed the point they sued the lawmaker who has sponsored dozens of bills dealing with finance, tax and other issues for her constituency and the State of Arizona. I don’t endorse candidates usually. This is the first time. Representative Reagan did the right thing — she went public with it and spoke for tens of thousands of Arizonians and Millions of Americans who have been treated the same way by their servicers, the parties they thought were lenders, the courts and the government in general".

Livingliesweblog

Oh....!    Oooooooh, They're saying some bad things about banks and about the federal reserve.  Boy the things people say, and do.

take this issue of creating money, for example. So you think the bank lends you its money do you...? Think again!

FROM THE BAR ASSOCIATION'S OFFICIAL WEB SITE :... ”this Court has the responsibility to assure itself that the foreclosure plaintiffs have standing and that subject matter jurisdiction requirements are met at the time the complaint is filed. Even without the concerns raised by the documents the plaintiffs have filed, there is reason to question the existence of standing and the jurisdictional amount”. Over 30 cases are covered by the BAR at: http://www.abanet.org/rpte/publications/ereport/2008/3/Ohioforeclosures.pdf

1. “A national bank has no power to lend its credit to any person or corporation . . . Bowen v. Needles Nat. Bank, 94 F 925 36 CCA 553, certiorari denied in 20 S.Ct 1024, 176 US 682, 44 LED 637.

2. Countrywide Home Loans, Inc. v Taylor - Mayer, J., Supreme Court, Suffolk County / 9/07

3. American Brokers Conduit v. ZAMALLOA - Judge SCHACK 28Jan2008 Aurora Loan Services v. MACPHERSON - Judge FARNETI 1 1Mar2008

4. “A bank may not lend its credit to another even though such a transaction turns out to have been of benefit to the bank, and in support of this a list of cases might be cited, which-would look like a catalog of ships.” [Emphasis added] Norton Grocery Co. v. Peoples Nat. Bank, 144 SE 505. 151 Va 195.

5. “In the federal courts, it is well established that a national bank has not power to lend its credit to another by becoming surety, indorser, or guarantor for him.”' Farmers and Miners Bank v. Bluefield Nat 'l Bank, 11 F 2d 83, 271 U.S. 669.

6. Bank of New York v. SINGH - Judge KURTZ 14Dec2007

7. Bank of New York v. TORRES - Judge COSTELLO 11Mar2008

8. Bank of New York v. OROSCO - Judge SCHACK 19Nov2007 Citi Mortgage Inc. v. BROWN - Judge FARNETI 13Mar2008 p-2 "The doctrine of ultra vires is a most powerful weapon to keep private corporations within their legitimate spheres and to punish them for violations of their corporate charters, and it probably is not invoked too often…. Zinc Carbonate Co. v. First National Bank, 103 Wis 125, 79 NW 229. American Express Co. v. Citizens State Bank, 194 NW 430. "It has been settled beyond controversy that a national bank, under federal Law being limited in its powers and capacity, cannot lend its credit by guaranteeing the debts of another.

All such contracts entered into by its officers are ultra vires . . ." Howard & Foster Co. v. Citizens Nat'l Bank of Union, 133 SC 202, 130 SE 759(1926). ". . . checks, drafts, money orders, and bank notes are not lawful money of the United States ..." State v. Neilon, 73 Pac 324, 43 Ore 168.

American Brokers Conduit v. ZAMALLOA - Judge SCHACK 11 Sep2007 Countrywide Mortgage v. BERLIUK - Judge COSTELLO 1 3Mar2008 Deutsche Bank v. Barnes-Judgment Entry

Deutsche Bank v. Barnes-Withdrawal of Objections and Motion to Dismiss Deutsche Bank v. ALEMANY Judge COSTELLO 07Jan2008

http://www.abanet.org/rpte/publications/ereport/2008

A Legal Basis for Debt Elimination!      

This process is founded on the decisions of the United States Supreme Court, as they have ruled time and again against the legal authority for banking institutions to lend credit. Federal and state laws allow banks to lend money - not credit. Nor can they lend you their depositors money. They can't loan out nor risk any of their own assets because of Federal Reserve regulations. So they lend you credit. Credit is only created when you sign the application form for the credit. This means you created the money they are alleging they lent you, your signature and your future labor is what created the loan to yourself, they never gave you anything, you gave them a promise to repay the nothing they gave you and with interest on top of that. Where is the common sense in that? The laws state they can't lend you something they don't have, and they don't have any credit to start with, only you can create credit, and they can't charge you interest on something they didn't give you in the first place because it doesn't exist and they did not create it! It was created by your signature being monetized by the bank when they deposit your promissory note (signature) into their accounting system. When they create money this way it all adds up to a higher and higher inflation rate for all of us, which means money is becoming worth less and less all the time. 

file:///Users/mary/Downloads/can't%20lend%20creditid33.htm

Version Number two: different headline, same sticky, fraudulent process!:

"Where did banks get this huge power to create money? In a nutshell,from their knowledge and our ignorance of the nature of money. They work overtime to keep up the deception. For example, why, if banks create the money they lend, do they have term deposits bearing interest? To help keep up the belief (deception) that banks lend depositor's funds. Money on term deposit is a tiny fraction of bank loans. Do banks have any moral right to create money? A resounding no! Do banks have a legal right to create money? No, but most politicians do not believe (or so they say) that banks actually create money, so they "believe" bank operations are above board. Abraham Lincoln, John Kennedy and Harold Holt all paid the price for trying to take away the power to create money from the people behind the banking system.

Banks not only create the money they put into circulation, they also extinguishmoney or take money out of circulation. Money in circulation enhances and simplifies the exchange of goods and services. Money is the common medium of exchange that simplifies bartering and allows commerce to flow. However. when a repayment of a loan is paid to a bank of principle and interest, the numbers go out of the borrower's account but do not come back into anybody else's account. That money has gone out of circulation or has been extinguished. Banks create the principle of a loan, but extinguish the principle and interest of repayments, and here lies the basis for Australia and every other country's economic problems- namely criminal entrapment".

file:///Users/mary/Downloads/Banks_the_truthB.html

The bleeding never ceases. All of our government  agencies seem to suffer impaired vision when being called upon to root out the frauds and to take action. The banks, meanwhile, just keep on rolling, in complete unabated rhythm:

"Seventy times Over the recent years, the use of cheques or bookkeeping money has increased significantly, and the bankers can thus create a larger percentage of bookkeeping money. For instance, for the third quarter of 1995, the Canadian chartered banks held $3.1 billion in cash, and lent, for the same period, $216 billion (non-mortgage loans) - seventy times the amount of cash they actually held! Until a few years ago, according to the Canadian Bank Act, the minimum reserve required in cash was 4%, but in December, 1991, the Federal Government enacted a new version of the Bank Act, which stated that as of January, 1994, the primary reserve in the form of cash that a chartered bank has to maintain is nil, zero! In other words, chartered banks are no longer limited by law in creating credit. The only limit is the fact that some bank customers still want to be paid in cash. So, one can easily understand why banks do everything they can to eliminate the use of cash, by encouraging the use of debit cards, direct payment, to eventually eliminate all cash in circulation. They promote the existence of only one kind of money - electronic money. The citizens of our country must do their utmost to prevent the elimination of cash, for it the bankers' wish comes true and there is no more cash, it would be the greatest swindle in the history of our nation, and it would give the banks absolute control over the economy and every individual".

Maybe you're beginning to get the fact that if you have lived in your home for more than   10 years, and if your have refinanced, you have  paid off the home twice over. But you'll never get this from the Susie Ormans of the world because they're too busy blaming the victims for the mortgage lender's crimes. Creating money as lenders, not banks, is what this maze has come to reflect. Con artists, with the backing of a con artist government that knows what is sees, and sees what it knows. Instead of nabbing those who perpetrate these crimes, the help perpetuate this thievery. Why shouldn't we impose referendums on these businesses, government agencies, and ask citizens for a "no vote of confidence". I don't mean just voting residents either. We possess much more than the power to vote, which doesn't amount to a hill of beans.

Voters know little more than a goat knows about pepper! Otherwise, why do our elections not even slow down this pedal-to-the-medal fraud?:

If you have refinanced your home, are you aware that each time you do it, somebody gets a check, and your home is paid off? Don't believe it. Observe.

"By the Federal Banking Laws, the banks cannot lend you their money, nor their depositors' account money, and they cannot lend you their their credit per the Federal Banking Law, so where did they get the money to lend you? YOU gave it to them with your signature on the promissory note as a {FREE LOAN}, when they changed your promissory note into a check or money and endorsed it, without your knowledge, authority, nor consent!!! 1RealEstateHomes.com.

This fraud is under the Federal Disclosure Law.

"Mortgage Debt Relief with a mortgage deduction elimination, cancellation of mortgage debt, and forgiven mortgage debt is the answer to most homeowner problems. Forget about mortgage loan "Switch and Bate" modifications, short sales, your home worth less than you owe, or facing foreclosure. With this Mortgage Debt Relief with a mortgage deduction elimination, cancellation of mortgage debt, and forgiven mortgage debt, you can have a free and clear home in no time with our proven educational program where we teach you HOW TO get Mortgage Debt Relief fast. This Notary Administrative Law Judgment cancellation of mortgage debt process works in every State; Yes, even California!" New Legal

Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fail Banks

 The Looting Of America:  The Federal Reserve Made $16 Trillion In Secret Loans To Their Bankster Friends And The Media Is Ignoring The Eye-Popping Corruption That Has Been Uncovered

The American people were absolutely outraged that the federal government spent 700 billion dollars bailing out the "too big to fail" banks. Well, that bailout was pocket change compared to what the Federal Reserve did.

As you will see documented below, the Federal Reserve actually handed more than 16 trillion dollars in nearly interest-free money to the "too big to fail" banks between 2007 and 2010. So have you heard about this on the nightly news? Probably not. Lately Bloomberg has been reporting on some of this, but even they are not giving people the whole picture. The American people need to be told about this 16 trillion dollar bailout, because it is a perfect example of why the Federal Reserve needs to be shut down. The Federal Reserve has been actively picking "winners" and "losers" in the financial system, and it turns out that the "friends" of the Fed always get bailed out and always end up among the "winners". This is not how a free market system is supposed to work:

Page 131 GAO-11-696 Federal Reserve System days. In contrast, a TAF loan of $10 billion extended over a 1-month period would appear as $10 billion. As a result, the total transaction amounts shown in table 8 for PDCF are not directly comparable to the total transaction amounts shown for TAF and other programs that made loans for periods longer than overnight.

Table 8: Institutions with Largest Total Transaction Amounts (Not Term-Adjusted) across Broad-Based Emergency Programs(Borrowing Aggregated by Parent Company and Includes Sponsored ABCP Conduits), December 1, 2007 through July 21,2010 Dollar in billions Borrowing Parent Company TAFPDCFTSLFCPFFSubtotal AMLF TALFTotal loans Citigroup Inc. $110 $2,020 $348 $33 $2,511 $1 - $ 2,513 Morgan Stanley - 1,913 115 4 2,032 - 9 2,041 Merrill Lynch & Co. 0 1,775 166 8 1,949 - - 1,949 Bank of America Corporation 280 947 10115 1,342 2 - 1,344 Barclays PLC (United Kingdom) 232 410 187 39 868 - - 868 Bear Stearns Companies, Inc. - 851 2 - 853 - - 853 Goldman Sachs Group Inc. - 589 225 0 814 - - 814 Royal Bank of Scotland Group PLC (UnitedKingdom) 212 - 291 39 541 - - 541

Deutsche Bank AG (Germany) 77 1 277 - 354 - - 354

UBS AG (Switzerland) 56 35 122 75 287 - - 287

JP Morgan Chase & Co. 9911268-279 111 - 391

Credit Suisse Group AG (Switzerland) 0 2 261 - 262 0 - 262

Lehman Brothers Holdings Inc. - 83 99 - 183 - - 183

Bank of Scotland PLC (United Kingdom) 181 - - - 181 - - 181

BNP Paribas SA (France) 64 66 41 3 175 - - 175

Wells Fargo & Co. 159 - - - 159 - - 159

Dexia SA (Belgium) 105 - - 53 159 - - 159

Wachovia Corporation 142 - - - 142 - - 142

Dresdner Bank AG (Germany) 1230110135 - - 135

Societe Generale SA (France) 124 - - - 124 - - 124

All other borrowers 1,854 146 14 460 2,475 103 62 2,639Total $3,818 $8,951 $2,319 $738 $15,826 $217 $71 $16,115 Source:

GAO analysis of Federal Reserve System data.

What is the current political climate in wake of the 2001 corporate scandals?

As it turns out, the corporate accounting scandals of 2001 were the tip of the iceberg in terms of the failure of the regulatory structure to adequately protect Americans and investors from economic hardship. The packaging of housing debt based on non-existent equity into securities which ultimately became worthless has caused a world wide economic collapse.

file:///Users/mary/Downloads/Corporate%20Responsibility.html

Loan Modification: Don't do it! You've got greater options, believe me! The problem? Even as lenders have become more willing to modify borrowers loans in the past year, many aren t offering deals that borrowers can afford over the long term, explains Austin King, national director of ACORN Financial Justice Center, a New Orleans-based consumer group. Here are five reasons why loan modifications fail.

Finally!  Back in the online world of providing high quality, energy producing news, information and golden 

entertainment! I offer nuggets of information that will provide you a  major position of leverage; equilibrium, if you

will. Glad I am..... to recapture this vehicle of online communication, seeing as how I have so much information to

unleash. Information about Pension Mismanagement that could leave you void of a pension in just a few years. 

Internal Revenue Service Highs and mostly lows; absolutely despicable actions by mortgage lenders in general.

Calling them lenders is a huge stretch. They're really nothing more than thieves and gangsters. I'll provide

documents,   and evidence that will uncover some of the most egregious crimes and manipulations

one might imagine, all with the knowledge and complicity of our vaunted "regulatory" State and Federal Agencies

The great part about this? I have compiled so many articles, affidavits. sample civil complaints and true copie of lawsuits and

investigations in all aspects of government. This will be information you can use to correct your daily lives, your income,

finances, your home and your health and safety. Freedom! Freedom! Freedom:

This is not a sales pitch. This information won't

cost you a dime because Igive it freely. I am just vying for your attention and support. I get that, you get what you  want and

what you need! Deal? ......Deal! 

The latest fraud activity I show is what happens when you're dumb enough to walk away from your home or property before

an auction takes place and without seeing the process through to it's conclusion.  As many times as you tell people about

effective ways to halt this sleazy practice, it seems to go in one ear and out the other. Homeowners think of themselves as

borrowers, when it is  likely they paid off the home. If you've refinanced, that's exactly what you've done. More than likely, the

people whosell your  home don't even own it; they don't have any promissory note that shows they own it.  And get this,

somebody has been paid full price for it, thanks to yours and my loss! I've been just as stupid, but no more.

To show one example of what I'm talking about, check out this email, sent to me by this author:

Author: David Young Comment: By the Federal Banking Laws, the banks cannot lend you their money, nor their depositors' account money, and they cannot lend you their credit per the Federal Banking Law, so where did they get the money to lend you? YOU gave it to them with your signature on the promissory note as a FREE LOAN, when they changed your promissory note into a check or money and endorsed it, without your knowledge, authority, nor consent!!! This fraud is under the Federal Disclosure Law. The Allonge or Alteration against Federal Law changed your mortgage promissory note into money without your knowledge or consent; thus, your lender created money out of thin air with your unknowing promissory note debt signature since most of you are only a number and not a real person made in God's image anymore. Because this alteration changed your promissory note into a FREE loan for the Lender or Bank. This is how the bank's assets increased along with getting the interest that you are paying.

Our Mortgage Debt Relief Notary Presentment process with a mortgage deduction elimination, cancellation of mortgage debt, and forgiven mortgage debt works, because the lender/bank does not record this promissory note nor most assignments or transfers with your local county court recorder office in your courthouse like they are supposed to by all State Laws and Federal Law. The lender/bank cannot prove that you owe any money, because they don't have the original blue inked signed promissory note that they deposited into their U.S. Treasury account or sold your note to a Trust Group of investors that changed your promissory note check into a stock when they recorded it with the SEC and then no one knows where your mortgage note is nor the unrecorded assignment in 99% of all mortgages issued since the early 1990's.

Since the loan was securitized by being sold, pooled into a trust, and turned into a stock when recorded with the SEC, the alleged holder can no longer claim that it is a real party of interest, as the original lender has been paid in full as proven by the back of the last note page where your Lender/Bank endorced your FREE loan to them. This is why there are no original blue inked signed notes available for foreclosure, just a counterfeit copy of your note remains that these banks pawn off as the original to the judges and courts to start an illegal foreclosure action against you just on the bank's say so with no proof of mortgage debt. If your mortgage or deed of trust has been sold or assigned and you're paying another bank, or even the same bank, then your mortgage was securitized illegally and no one has the real, original promissory note. Without that note, no one can foreclose on your home if you confront the PRETENDER Lender or investor who claims they have the note with our proven Educational process on the Private side of the Unifoermed Commercizal Code of federal laws.

1RealEstateHomes.com

Now, consider what happens all over the country that causes these fraudulent foreclosures under the watchful eye and with the

complicity of the Internal Revenue Service, the Justice Department and the Obama Administration. Ever heard of bid rigging. With

the folks in the white house, this kind of sleaze will be supported fully:

FOR IMMEDIATE RELEASE THURSDAY,

JUNE 30, 2011

WWW.JUSTICE.GOV AT (202) 514-2007 TTY (866) 544-5309

CALIFORNIA REAL ESTATE INVESTORS AGREE TO PLEAD GUILTY TO BID RIGGING AT PUBLIC FORECLOSURE AUCTIONS

Investigation Yields Eight Plea Agreements WASHINGTON — Eight California real estate investors have agreed to plead guilty for their roles in two separate conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced. Charges were filed today in U.S. District Court for the Northern District of California in Oakland, Calif., against Thomas Franciose of San Francisco; William Freeborn of Alamo, Calif.; Robert Kramer of Oakland, Calif.; Thomas Legault of Clayton, Calif.; David Margen of Berkeley, Calif.; Brian McKinzie of Hayward, Calif.; Jaime Wong of Dublin, Calif.; and Jorge Wong of San Leandro, Calif. According to the felony charges, the real estate investors participated in a conspiracy to rig bids by agreeing to refrain from bidding against one another at public real estate foreclosure auctions in Contra Costa County and Alameda County, Calif.

While some of the conspirators participated in the conspiracies in both Alameda and Contra Costa Counties, the collusive activity occurred independently in each county, and some individuals only participated in the conspiracy in one county. “While the country faces unprecedented home foreclosure rates, the collusion taking place at these auctions is artificially driving down foreclosed home prices and is lining the pockets of the colluding real estate investors,” said Christine Varney, Assistant Attorney General in charge of the Department of Justice’s Antitrust Division. “The Antitrust Division will vigorously pursue these kinds of collusive schemes that eliminate competition from the marketplace.” The department said that the primary purpose of the conspiracies was to suppress and restrain competition to obtain selected real estate offered at Alameda and Contra Costa County public foreclosure auctions at noncompetitive prices. When real estate properties are sold at these auctions, the proceeds are used to pay off the mortgage and other debt attached to the property, with remaining proceeds, if any, paid to the homeowner.

file:///Users/mary/Downloads/California%20Real%20Estate%20Investors%20Agree%20to%20Plead%20Guilty%20to%20Bid%20Rigging%20at%20Public%20Foreclosure%20Auc

Need more convincing that these folks are scaring you out of a home that rightfully is yours? Here it is:

The Bank of America lawyer laid down a patented rhetorical move heard in courts across America.

Your Honor, this Orange County, N.Y., homeowner — a New York City police officer — didn’t make enough money to qualify for a mortgage modification. He didn’t send us the right documents.

Fred R. Conrad/The New York Times

Eric T. Schneiderman, New York State's attorney general, opposes the Obama administration's foreclosure deal. Related More Gotham Columns Follow @NYTMetro Connect with @NYTMetro on Twitter for New York breaking news and headlines. He didn’t, he didn’t, he didn’t, and so we should be allowed to foreclose. Justice Catherine M. Bartlett of New York State Supreme Court cut off the lawyer. You, she said, are telling me lies. “Bank of America got a bailout, and this is an outrage, how this man has been treated,” she said. “Hard-working, middle-class Americans are trying to make it, trying to refinance with your bank.” Either bank officials show up in person, the justice said, or I’m going to order them “here in handcuffs.” Rage has acquired a cleansing power. Patience as a virtue is a hard sell at the burnt end of a four-year economic collapse. Zuccotti Park shakes, rattles and rolls; television yakkers chat about inequality; and the federal judge Jed Rakoff all but heckled the Securities and Exchange Commission last week for going easy on Citigroup misbehavior.

Then there is Eric T. Schneiderman, New York’s attorney general, caught in Month 5 of a face-off with the White House. President Obama dearly wants to seal a deal in which the nation’s largest banks toss over a few bales of cash — $20 billion to help with foreclosure relief — and the state attorneys general agree not to pursue sprawling and explosive legal cases against the banks. Mr. Schneiderman and Attorney General Beau Biden of Delaware, joined by a few others, say no. Banks, they say, should disgorge more documents, testify more precisely and prove more completely that they own millions of mortgage notes. These rebel attorneys general want the banks to hand over more than $200 billion, which would enable the government to write down tens of millions of mortgages. But in the end, their argument is elemental: Wouldn’t the nation benefit from knowing the truth about the behavior of banks and bankers? “If you don’t air out the policies that led to the implosion of the economy, it will happen again,” says Mr. Schneiderman. “There’s not one sentence in the proposed agreement, not one period or comma about the stuff that blew up the economy.

We can’t let the banks rewrite history.” The desire to know precisely what happened during that give-a-mortgage-to-anyone-who-breathes, securitize-this frenzy has historical antecedents. In the Great Depression, the United States Senate hired another New York lawyer, Ferdinand Pecora, to write the report on its investigation of that collapse. Mr. Pecora found more questions than answers, and insisted on more subpoenas, more forensic investigators and more brokers testifying under oath. Like a man reaching into a barrel of dead fish, he found a great stink. Not least, he discovered that National City (the lineal ancestor of the same misbehaving Citigroup) had sold flawed investments and that its president engaged in something close to tax evasion. Seventy-eight years later, the Obama administration has Shaun Donovan, secretary of housing and urban development; the economic adviser Gene Sperling; and Attorney General Eric H. Holder Jr. dialing liberals, activists and bloggers, urging them to pressure the rebellious attorneys general to forgo emotionally satisfying inquiries and take the deal. Banks make money and find loopholes, the president noted last month. These actions aren’t “necessarily against the law.” That raises the question: How does he know? Mr. Schneiderman is chary of talking too much now about his investigation. A few years back, he wrote an article for The Nation magazine, arguing that Democrats had for too long forsaken transformational politics for transactional, cut-a-deal politics. At the time, Washington Democrats dismissed such arguments as idealistic silliness. Except that the cultural dial seems to be turning now.

file:///Users/mary/Downloads/Patience%20Grows%20Thin%20for%20Banks%E2%80%99%20Foreclosure%20Excuses%20-%20NYTimes.com.html

 

Be sure to stay updated. This website will undergo continuous updating and upgrading. Pages will be added and deleted, as needed. The Master Pages will be edited and refined, but the content will be stable. I will use the home page to headline updated stories on corresponding pages. Remember former New York Mayor Ed Koch, so popular in the early 1980's during and after the Democrat Convention held in New York City. Well now, Koch has an issue much the same as I. With the Clinton, Bush and Obama Administrations. 

Video: Former IRS Agent turned IRS watchdog: watch it!

This hybrid, or biracial President, who impersonates Black or White when it suits him, is acting invisible again. If anyone poor expected his help, remember: one half of Obama is a slave, bound to follow the mainstream. The other half will take risks, but not at his expense, at yours and mine. All Chief Justices, no matter their background succumb to the same powers.

We know that All those "terrorist" leaders who have been killed by Obama, the Bush's, Clinton, Reagan, et al,  were  murdered. Not one of them a risk to these leaders.  Want to bet that the killings were performed and they found out afterward?

Whatever happened to prisoners of war, capture and interrogate,  and conduct a trial. A Chief Presiding Officer is that of a Chief recipient of powerful orders. Their actions belie some of their words. Obama is a politician, whose primary goal is favor in the public ratings and support for reelection. If you poor, unemployed, senior, disabled, taxpaying debt bearing voters expect him to stick out his neck, then as Eric Braeden(who plays "Victor" on the soap, Young and Restless" would say, "ain't goona happen:!


Some employers steal from 401k's
In tough times, some business owners are facing a tough choice: Pay the bills or deposit their workers' money into the 401k plan. Here's how to protect yourself.

Obama is bound to follow the master's lead. Doing nothing that goes against the political grain, and everything against people such as I. That has allowed Ed Koch to expose him...and those whom he follows in the presidency. In this case, I'm in total agreement, except for one thing. To buck the system as the Chief Presiding Officer takes guts. Obama is a politician and a slave. He'll not buck the system. In this case, however, he is acting willfully against homeowners, taxpayers, debtors, and consumers.  He's helping the thieves rob the bank! 

 

Ed Koch Former Mayor,

New York City

Mr. President, Stop the Great Bank Heist!

A New York Times editorial of November 9, 2011 sounded the alarm concerning what I would refer to as the Great Bank Heist. The robbery, however, is not of the banks, but by them, with the Obama administration, I regret to say, helping them, in effect, to rob the public. Banks and the government are intent on reducing the liability of the banks for their fraudulent and negligent conduct that led to the Great Recession. The two articles that best describe what is going on are the Times' editorial and a joint statement written by the attorneys general of New York and Delaware, Eric Schneiderman and Beau Biden, which appeared in Politico on November 6, 2011. The two attorneys general wrote:

At the time that Ed Koch was going strong, so was the Reverend Jesse Jackson, also a  two-time candidate for the Presidency. It probably is Jackson who set the table for Obama to get into the white house. You see, white america can't countenance a Black man with no racial mixture being the "leader" of  this  troubled nation. With the restraints on slaves, Jackson would have his hands tied the same as Obama. But I don't believe he would be playing the role of Uncle Remus!: 

Will banks be held accountable for fraud and misbehavior? Jesse Jackson May 23, 2011 11:14P

 It isn’t clear what is worse: the housing crisis that keeps deepening or the reports of pervasive banking fraud that keep getting exposed. With the banks facing billions in potential damages, perhaps some measure of justice can be done to the homeowners who have been the victims of the crisis and the crimes. We’re still not at the bottom of the housing mess. Home prices continue to fall. Now nearly 30 percent of homes with mortgages are under water. Another 2 million in foreclosures are due to come. Banks are sitting on hundreds of thousands of foreclosed homes, a dead weight on any recovery in home prices. For millions of Americans, this is a calamity. The savings they thought they had in the value of their homes are gone. Many are paying on mortgages for homes that may never return to their original value. Millions are losing their homes to foreclosure, or choosing to walk away from investments that no longer make sense. This is the fallout from the housing bubble and bust that triggered the global recession, and has left nearly 25 million in need of full-time work, while generating crippling budget deficits at the local, state and national level. What is increasingly coming clear is that beneath this calamity is an extensive pattern of fraud, negligence and misbehavior by America’s biggest banks.

What to do about this corporate fraud, government complicity and coverup? Force these agencies to jail their peers, or make them understand that they'll go to jail instead. Demand that employees for the government justify their positions or be eliminated. Delete all governmental agencies and individuals who can't qualify and quantify their value to taxpayers, debtors, homeowners, etc.

"Federal housing policies illustrate some broader realities of federal intervention. When making decisions, policymakers usually have political and self-interested ends in mind, not the broad general interest of the public. Also, lofty interventionist visions—such as using the government to boost home ownership—often fail because of the imbalances they create in private markets. Housing was traditionally a private and local concern without federal involvement. The scandals and policy errors discussed here provide good reasons to start dismantling HUD and ending the housing subsidies that have caused so much damage".file:///Users/mary/Downloads/HUD%20Scandals%20%20%20Downsizing%20the%20Federal%20Government.html

According to sources familiar with the ongoing state and federal probes, state and federal officials have wasted months not digging into the details of the foreclosure crisis, yielding little of value in court and undercutting the lenders' incentive to strike a settlement of greater benefit to homeowners and taxpayers. The investigators have yet to gather many documents, conduct depositions or assemble tallies of aggrieved homeowners. They don't yet have a good handle on the number of wrongful foreclosures, the amount of fraudulent documents filed in local courts or the volume of legal instruments processed by so-called "robo-signers," the agents that lenders employed to process foreclosure filings en masse without examining the underlying paperwork. file:///Users/mary/Downloads/As%20Government%20Nears%20Accord%20With%20Banks,%20Questions%20Swirl%20Over%20Scope%20Of%20Investigation.html

The Securities Exchange Commission: Can't get out of its own way?

From a technologically backward process for reviewing corporate filings and an inability to detect fraud to an unwieldy management structure and a unionized, lawyer-heavy work force, the SEC has developed a reputation as an outdated bureaucracy unable to track its own finances and lacking in basic accountability and transparency.