Commissioner of CFTC Bart Chilton Has Said Silver Has Been Manipulated and those who have done so, should be proscuted!

How awesome is this!?

Bart Chilton a couple of weeks back said, he would go public himself if the CFTC did not about Silver Manipulation!  He has held to his promise!  He has come out today saying the Silver Market HAS BEEN MANIPULATED!  He also said those who have done so, should be Prosecuted!   Gosh, I wonder how all the boys at JP Morgan are liking that right now?  Just brings a smile to my face!

Article:

WASHINGTON (MarketWatch) — A federal futures regulator said Tuesday he believes there have been numerous attempts to fraudulently influence silver market prices, and he urged the agency to prosecute those who may have violated commodities laws. 

Bart Chilton, a commissioner at the Commodity Futures Trading Commission, made his comments Tuesday at the start of a public meeting where the agency will be proposing new rules to strengthen its anti-fraud and anti-manipulation powers.

The agency’s enforcement division for over two years now has been probing the silver /quotes/comstock/21e!f1:si\z10 (SIZ10 2,412, +29.00, +1.22%)  market amid a flurry of complaints by investors who have raised fears about potential price manipulation. The CFTC hasn’t provided any updates on the investigation, and Chilton said he thinks “the public deserves some answers to their concerns that silver markets are being, and have been, manipulated.” 

“I believe there have been repeated attempts to influence prices in the silver markets,” he said. “There have been fraudulent efforts to persuade and deviously control that price.”

He urged prosecution of those who may have violated the law, but said he can’t prejudge what the agency will do with its investigation. 

Lets see is Silver responds to this news in the next few days.

China Has Come Out and Officially Said "DOLLAR PRINTING IS OUT OF CONTROL"! WOW - They Must Really Be PO'D now!

China does not say things, unless they have already taken action regarding a subject or they have had enough of something!  Well, China has come out today and said "THE U.S. DOLLAR PRINTING IS OUT OF CONTROL"!  This is HUGE NEWS!

This means China is at their End of their Patience with the U.S., they are now out right declaring they KNOW the end game the U.S. plans - Hyperinflation to pay off debts!

The Commerce Minister of China is the One who said this in public at a trade fair.

Small Portion:

"Because the United States' issuance of dollars is out of control and international commodity prices are continuing to rise, China is being attacked by imported inflation. The uncertainties of this are causing firms big problems," Chen was quoted as saying by the official Xinhua news agency.

Chinese officials have criticized U.S. monetary policy as being too loose before, but rarely in such explicit language.
So, China has officially declared the U.S. printing is out of control and the Fed has announced they will buy 4 Trillion in T-bills if need be!  So if they think the printing is out of control now, well.............. Hold On, you ain't seen Nothing Yet!  The U.S. government will not be happy until we have hyperinflated our way out of debt!  Their attitude - To Hell with everyone else, including the American people and the world who will suffer over this!

Miami Judge is UPSET Foreclosures are DELAYED Because Banks are Correcting Paperwork! WTF?!

When I read this Article, I can't even express what I thought of this Judge saying "She is UPSET foreclosures are being DELAYED"!

Okay, before we get to the article, I wonder if this judge has read the Florida Bar Associations Letter, regarding them hearing about all the foreclosure fraud paperwork from the media but NOT from the Judges!

So, now we have a judge in Miami, who got a system where there is an 80,000 backlog of foreclosures
and she wants them hurried up and gone through!  She is frustrated, due to setting up how foreclosures can have their stamp  of approval fast and now there are delays!

I have question:  HAS THIS JUDGE FOUND ONE "PAPERWORK IRREGULARITY ON ANY FORECLOSURES?  DOES SHE LOOK THROUGH THE PAPERWORK?  OR DOES SHE JUST STAMP THEM FOR THE BANKS AS FAST AS POSSIBLE?

Judges have to be held accountable also, for rubber  stamping the foreclosures and allowing fraudulent paperwork for the banks to foreclosure!  They are a part of this whole mess, if they like it or not!  This is NOT the Justice the American People expect or is suppose to be allowed!  Judges are suppose to UPHOLD THE LAW!  BUT it does not seem they have!

Portion from the article:

The Miami judge managing a backlog of 80,000 foreclosures expressed frustration that lenders including Bank of America Corp. and JPMorgan Chase & Co. continue to cancel foreclosure auctions. 

Circuit Judge Jennifer Bailey in Miami-Dade County, which has the most foreclosures in Florida, recently set up a system to clear the logjam. She also chaired a state Supreme Court task force last year set up to address the volume of foreclosures in the state’s courts. 

“It’s very frustrating to have put in this effort to design, plan and implement this system and when we finally get some forward momentum, we start slowing down again because of the banks,” she said today in an interview. 

Bailey said banks are canceling foreclosure sales every day. They canceled at least 20 today in front of one judge, saying they had to review the affidavits used to seize homes. 

If you read between the lines, she is saying she is just pushing foreclosures and is upset the banks may be correcting paperwork!  That means she DOES NOT CARE ABOUT CORRECT PAPERWORK! 

WHAT is MERS - Who Owns MERS? A Very Good Article from Huffington Post

I am not going to duplicate the article here, but it is basically a more condensed version of information about MERS - than I have in my original MERS Post.

Huffington Post - Explains MERS is a Shell Company and WHY it is Fraud - They have labeled it Part One!  Please read the article to get a better understanding, if you do not understand it at this time, of how MERS is Fraud!  This does not discuss the MBS Fraud of the securities being sold multiple times.

Portion:

Designated officers of the servicers" are "elected" as officers of MERS so that they can act on behalf of their own company while pretending to act for this artificial one. 
 

"Loan servicers" are the companies that collect and process loan payments, and the big banks themselves act as loan service companies. As the Associated Press reported last year, Billions of dollars the government is spending to help financially pressed homeowners avert foreclosure are passing through -- and enriching -- companies accused of preying on the people they're supposed to help." These companies actually target people who are struggling to pay their bills, because they make more money from late fees.

Who are the largest loan servicers? Bank of America, Wells Fargo, JPMorgan Chase. and Citigroup Inc. That's right: The artificial corporation called "MERS Inc." holds your note as a facade, and it could very well name as its officers the very same bankers who issued your loan in the first place. (Or, as we're about to find out, not.) But in this case they're officers of "MERS," not their own organization.

There have already been lawsuits against loan servicers for wrongful foreclosure, misrepresentation, breach of contract, conspiracy, violation of state debt collection laws, and predatory lending, just to name a few. It's not as if we need another layer of obfuscation, confusion, and secrecy to further cloud the legal process. The owners of MERS are turning the corridors of justice into a hall of mirrors.

How Wall Street Has Gotten Away with The FRAUD of Selling One Mortgage Multiple Times

Zerohedge has a Great Article on how Wall Street Has gotten away with Selling One Mortgage multiple times.

Article:

I've repeatedly documented that mortgages were pledged multiple times to different buyers. See this, this and this.

In response, some people (including one of the country's top bankruptcy lawyers) have told me they don't buy it.

Specifically, they ask such questions as:

• With a mortgage sold to two different entities, wouldn't the income from the mortgage be shown on the books of both entities?

• Was the interest/principal payments that were made by the homeowner before they stopped being divided between both entities? If so, wouldn't this have rung alarm bells immediately?

• If only one was getting it, why didn't the other entity immediately try to foreclose?

• If there was one servicer involved, was the servicer covering the difference between what was collected and the payments actually made? If so, how did the servicer do this and still remain in business?

• If two servicers were involved, why didn't this come out sooner or were both servicers hiding this fraud?

So I wrote to some of the leading experts on mortgage fraud - L. Randall Wray (economics professor), Christopher Whalen (banking expert with Institutional Risk Analytics), and William K. Black (professor of economics and law, and the senior regulator during the S & L crisis) - to seek their insight.

Chris Whalen told me:

All good points, but the short answer is that nobody may have noticed until now. The issue of substitution and other games played by servicers makes exact tracking of loans problematic. It should show up in the servicers reports and should be caught, but there are a lot of things that go on in loan servicing that nobody talks about. Until about 2006, the GSEs and banks would advance cash and would substitute, but not now. The noble practitioners you heard from are all sincere and want to believe in intelligent design.

Whalen explained:

Prior to FAS [i.e. Financial Accounting Standards] 166/167, a defaulted loan might sit in a FNM/FRE pool for up to a year before the default was removed from the trust. The issuer would then place a new loan into the pool or “substitute” for the old loan. No purchase event was booked. The investor would never know. In fact, the issuer would keep paying interest on the original principal amount in those days. Now under FAS 166/167, the issuer must immediately repurchase the defaulted loan and take the loss less estimated recovery. That is why the pace picked up this year when it comes to repurchase demands.

You should refer your dubious and very naive friends to the case of National Bank of Keystone, WV. One of the worst failures per $ of assets in FDIC history. The management hid a Ponzi scheme in the loan servicing area for five years. Paid interest to investors with their own principal. Two auditors missed the fraud and later were sued by the FDIC acting as receiver for the dead bank. And this was a small operation. The big five are an even worse mess. Remember, when the seller of a loan and the servicer are the same, anything can happen. And it usually does.

Professor Black told me:

Double pledges (as they're typically called, though one could pledge multiple times) are a well known fraud device. It is correct that one of the key purposes of adopting Article 9 of the Uniform Commercial Code (UCC) was to reduce the risk and frequency of this form of fraud. So, double pledges in the modern era require both (A) fraud (on the part of the borrower or purchaser) and incompetence, indifference, or corruption on the part of the original secured lender or their agents if the borrower is the fraudster or the purchasers if they are the fraudsters.

The two potential sources of fraud: A fraudulent borrower could pledge the same home as security for multiple mortgage loans. Title checks, by the lender/title insurer are so easy to conduct and so vital to protect the lender that this form of fraud is vanishingly rare. Alternatively, and far more likely, the lender could sell the mortgage to multiple buyers. Those buyers could have far lower incentives to check on prior pledges and less ability to check for prior pledges. The entity selling a loan to multiple parties (A) has a compelling incentive to hide the prior pledge(s), (B) is financially sophisticated, and
therefore more capable of deception than a homeowner, and (C) can pick who to make the multiple sales to -- allowing them to select the most vulnerable targets for fraud.

Subpart (C) provides the logical transition to the second requisite for multiple pledge frauds -- vulnerable victims. The characteristics they would exhibit include (A) growing massively, (B) purchasing nonprime loans without fully underwriting the quality of the loans (and quality in this context inherently requires superb "paperwork"), (C) poor internal and external controls, and (D) opaque systems that make it extremely difficult to determine the beneficial owner and locate key mortgage documents that would reveal multiple sales. Unfortunately, these four characteristics were characteristic of many purchasers of nonprime mortgages. That is why I have long stated that the process was dominated by the financial sector equivalent of "don't ask; don't tell."

Bottom line: the elite bankers and the anti-regulators have been so unwilling to
find the truth that no one knows how bad these frauds became. Finding the facts
is essential and can and should be done by reviewing samples of the loans pledged or sold to Fannie and Freddie and the Fed.

And professor Wray told me that record-keeping by servicers was terrible, and pointed me to the following article from the Tampa Tribune:

Peter Bakowski, a 58-year-old former Tampa mortgage broker, has admitted orchestrating a Ponzi scheme that involved more than 30 investors and institutions and more than 150 deals, documents show.

***

Bakowski sold the mortgage assignments to multiple investors, promising high rates of return and using all the money he generated to "keep the scheme afloat," according to his plea agreement.

Texas Attorney General Subpoenas JP Morgan, Bank of America and Other Loan Servicers on Their Foreclosure Practices!

At least one Attorney General is taking a proactive step in the foreclosure FRAUD!  The Texas Attorney General has Subpoenaed Bank of America, JP Morgan and other Loan Servicers about their Foreclosure Practices!

Portions:

“The state is subpoenaing information and documents,” Jerry Strickland, the spokesman, said yesterday in an interview. He didn’t elaborate. The state also subpoenaed Ally Financial Inc., CitiMortgage Inc. and Wells Fargo & Co.

Abbott began investigating foreclosure practices in Texas following the disclosure of a December deposition in which an employee of Ally’s GMAC Mortgage unit testified that his team signed about 10,000 documents a month without verifying their accuracy. On Oct. 13, all 50 state attorneys general announced a joint investigation of foreclosures.

The Texas subpoenas followed letters sent by Abbott’s office to 30 loan servicers on Oct. 4, asking them to halt foreclosures in the state pending a review of their practices.

Abbott asked banks then to identify employees who filed faulty affidavits or other documents in the state and identify foreclosures that used such documents. He also asked lenders and servicers to halt all sales of properties previously foreclosed upon and stop all evictions.

Video - The TRUTH on Dylan Ratinger of the Mortgage Foreclosure FRAUD - He is Bringing Out the TRUTH of it all! Govt. Covering UP the Fraud!

Dylan Ratinger - This Guy is AWESOME! He Has the TRUTH OF The Mortgage Foreclosure FRAUD! Foreclosure Hamlet Interviewed!

Visit msnbc.com for breaking news, world news, and news about the economy

What Funds Have FRAUD MBS (Mortgage Backed Securities) In Them - Are YOU Holding Any of these Funds?

Funds that have FRAUD MBS from The Wall Street Gang 

Are you holding any of these funds in your portfolio?  If so.... Well you may want to get out of them, fast!

Article:

This morning, Forbes’ Matt Schifrin published an article called A European Lynch Mob Is Coming For Bank of America in which he excerpts John Mauldin’s Thoughts from the Frontline weekly newsletter.  The excerpt focuses on Mauldin’s assertion that big banks, including Citigroup (C) and Bank of America (BAC), were negligent in underwriting subprime mortgages.  Additionally, it seems that a law firm has been hired by Fannie and Freddie’s parent the FHFA.

So is your financial ETF diversified with Citigroup and Bank of America as small parts of a pie, or are you overweight Citigroup and Bank of America without knowing it?

If you own the SPDR KBW Bank ETF (KBE), about 18% of your investment is in these two companies—with another 8.5% in JP Morgan (JPM).

If you’re in the iShares Dow Jones U.S. Financial Services Index Fund (IYG), about 17.3% is in Citigroup and Bank of America, with another 22% in JP Morgan and Wells Fargo (WFC).

This morning, Forbes’ Matt Schifrin published an article called A European Lynch Mob Is Coming For Bank of America in which he excerpts John Mauldin’s Thoughts from the Frontline weekly newsletter.  The excerpt focuses on Mauldin’s assertion that big banks, including Citigroup (C) and Bank of America (BAC), were negligent in underwriting subprime mortgages.  Additionally, it seems that a law firm has been hired by Fannie and Freddie’s parent the FHFA.

So is your financial ETF diversified with Citigroup and Bank of America as small parts of a pie, or are you overweight Citigroup and Bank of America without knowing it?

If you own the SPDR KBW Bank ETF (KBE), about 18% of your investment is in these two companies—with another 8.5% in JP Morgan (JPM).

If you’re in the iShares Dow Jones U.S. Financial Services Index Fund (IYG), about 17.3% is in Citigroup and Bank of America, with another 22% in JP Morgan and Wells Fargo (WFC).

Special Offer: RMR Asia Pacific Real Estate (RAP) a closed-end fund trading at a 21% discount to NAV. Click here to try Forbes/ISA Closed End Fund &  ETF Report for specific recommendations on this fund and dozens more underpriced closed-ends and ETFs.

A more diversified exchange-traded fund is the Vanguard Financials ETF (VFH), with no more than 6.7% in any one holding according to the last data available.  The largest holding is Wells Fargo (WFC)  at 6.7%, Bank of America at 6.0%, Citigroup at 4.6%, Goldman Sachs (GS) at 4.1% and so on.

Take away: Know what you’re holding.

Forbes - European Lynch Mob Coming For Bank Of America - Mortgage Backed Securities (MBS)

Bank of America is the entity that all the Mortgage Fraud is Focused on!  I am sure Goldman Sachs, Wells Fargo, Citibank and all those other Wall street Banks are Thrilled Bank of America has the Huge Target on their Head!  But Bank of America is the top due to acquiring Countrywide in 2008 of mortgages.

An interesting article out today from Forbes - the title:

European Lynch Mob is Coming For Bank of America

 Seems Investors of MBS in Europe are not happy they have been scammed and bought bad investment securities!

Portions:

The latest ugly news for Bank of America is actually coming from Europe, where big institutional money managers and other mortgage securities buyers are now beginning to organize for an assault. This information comes from  John Mauldin’s, Thoughts from the Frontline Weekly Newsletter. His e-letter is a must-read for many money managers and serious investors.

This week he devotes a lot of his letter to testimony that seems to prove that big banks like Citigroup (C) and BAC were negligent and even willfully careless in underwriting subprime mortgages. He also reports on some new ominous developments brewing overseas and that law firm Quinn Emanuel Urquhart & Sullivan , which specializes in going after money center banks, has been hired by Fannie Mae and Freddie Mac parent, the FHFA. 

There are two key take-aways. First, note that a European entity is involved. Hundreds of billions of dollars of this junk was sold to European banks and funds. And these guys get together at conferences (sometimes they even invite me to speak). So Helmut will be talking to Lars who will talk to Jean Pierre and they will realize they all own some of this junk. They will be watching with very real interest to see how the big boys at PIMCO and Black Rock and the New York Fed fare in their efforts. And then you can count on them all piling on (more later on this).

Second, little noticed this week was the fact that The Litigation Daily wrote that Philippe Selendy of Quinn Emanuel Urquhart & Sullivan has been retained by the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, to investigate billions of dollars in potential claims against banks and other issuers of mortgage-backed securities.

A Machine that Turns Plastic into Oil - It is REAL and it WORKS! Video

The various website Links that go to the Company and Specifications for the machine.

http://www.blest.co.jp/index.html

http://www.blest.co.jp/englishcatalogue.html

http://ourworld.unu.edu/en/plastic-to%20-oil-fantastic/

WAR - What is It Good For?

You can now replace the Face of Bush with the Face of Obama in this Video - It applies to BOTH NOW!

China Has Been Preparing For Post Dollar World - Silver Exports From China Has DROPPED 60% this Year! They are Keeping the Silver to themselves! Video

Great Video from Inflation Nation U.S. - About China's Exports of Silver dropping 60% this year and keeping the silver to themselves and They have been Preparing for a Post Dollar World.

New Jersey Class Action Suit AGAINST Bank Of America Just Filed - (MERS)

A Class Action Suit Against Bank Of America (MERS bank) was just filed in New Jersey!

This suit is directly against Bank of America compared to encompassing all MERS banks.

UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF NEW JERSEY

Tanya Beals, on behalf of herself and all
other persons similarly situated

VS.

Bank of America, N.A, BAC Home Loans
Servicing, L.P., a wholly owned subsidiary
of Bank of America, N.A., LaSalle Bank,
N.A., John Does 1-10

Excerpts:

Defendants Have Consistently Demonstrated a Willful Disregard
for the Procedural Safeguards Entitled to All Borrowers

Defendants Routinely Act in Bad Faith and in Breach of Contractual
Obligations During the Course of their Settlement Negotiations with Plaintiffs

FIRST COUNT
(Fraud)

SECOND COUNT
(Violation of the New Jersey Consumer Fraud Act
codified at N.J.S.A. §§ 56.8-1, et. seq.(NJCFA))

THIRD COUNT
(Breach of Contract)

FOURTH COUNT
(Breach of the Covenant of Good Faith and Fair Dealing)

FIFTH COUNT
(BREACH OF IMPLIED CONTRACT)

SIXTH COUNT
(Quantum Meruit)

SEVENTH COUNT
(Violation of the New Jersey Fair Foreclosure Act)

Two Class Action Suits Against MERS for States - California and Tennessee - Tn. One is "Sealed - Gag Order" BUT Paperwork linked!

Both California and Tennessee have had Class Action Lawsuits Filed For them Against MERS, for Not Paying Transfer Fees and Assignment Fees for the State!  The Tennessee Class Action is actually Under Seal and Gag Ordered.  The paperwork with both are essentially the same and were filed within a week of each other.

I had referred to these suits in the Original Post of my ALL MERS information.  

Link to Class Action Suit Filed in California against MERS

Link to Class Action Paperwork Filed in Tennessee Against MERS (remember this is actually sealed - but paperwork is here)

You will find both suits are using the same person a Barret Bates - who is a Realtor from Nevada and the source of information for being able to file these suits.

COMPLAINT:

COMES the State of Tennessee ex rel. Barrett Bates, on behalf of real parties in interest, the counties of the State of Tennessee, above-named and hereby complains of Defendants as follows:

STATEMENT OF THE CASE
Plaintiff Barrett Bates seeks recovery pursuant to Tenn. Code Ann. § 4-18-103, the False Claims Act, because Defendants made false representations in order to avoid payment in full of all recording fees reflecting the establishment and/or transfer of secured interests in real property in the State. After having recorded false, fraudulent, misleading and untruthful documents with the land records of the counties of this State, Defendants intentionally failed to cure/correct said false, misleading and untruthful documents and further failed to record subsequent assignments, deeds and other documents evidencing accurate changes in ownership interests in real property and, thereby, avoided, decreased and/or diminished their obligation to pay fees or monies to the counties of the State of Tennessee, the above-named real parties in interest.

PARTIES
1. Barrett Bates, relator, is a resident of the State of Nevada and an original source of information and authorized to bring this action pursuant to Tenn. Code Ann. § 4-18-101, et seq., and as the qui tam Plaintiff because Bates has worked in the secondary mortgage market business and, during the course of his work in June 2009, became aware Defendants were concealing and avoiding the payment of recording fees or other monies to the above-named counties in this and other states and brings this action under Tenn. Code Ann. G 4-18-103 against Defendants for violations of these sections.

The G-20 Seems To have decided - LET the Dollar FALL! No more Currency Intervention for Export Strength!

Well, we have arrived what might be at the final nail in the coffin.  I guess the other countries have decided they will not intervene in the devaluation of the dollar anymore.  The G-20 countries have said, they will not have a currency war and will let the dollar do what it will.  Even Japan it seems is resigned to the Yen going up against the dollar.  Gosh, Japan has already dumped who knows how many billions down the drain, trying to keep the U.S. dollar Up against the Yen, but all the interventions have failed!

Besides the countries know they can not compete with the Fed, who seems intent on destruction of the U.S. dollar.  In fact it has come out today the Fed will buy 2 Trillion of U.S. Treasury bonds if they have to, to get inflation where they want it! (Yeah, Weimer, hyperinflation, to inflate our way out of Debt)  Hello Zimbabwe - you got room for us?

So there will be a 500 Billion buy from the Fed as part of the QE program and then more if need be.  (Yeah, no one else will touch the U.S. debt now).

I wonder if China and Japan will furiously try to unload as many T-bills/bonds as they can in the next few weeks?

What will be coming?  Well, just talk to someone from Germany who is still alive from the Weimer days and chat with someone from Zimbabwe, you then might get an idea, of what the U.S. future holds when everyone drops the dollar like it is the Paper that it is!  Just That - Paper that is printed with Green Ink and Nothing to back it, but a printing press!

EDIT - 10:42pm EST - From looking at the dollar index, the countries are standing by what they said at the G-20 meeting - no Currency Intervention will be done anymore - Dollar is Dropping Big Time and Metals Are UP - Gold $10 Up already.

Politics is BullS*&%!! Same Backers Behind BOTH Parties, It is All a Game they are Playing Different Roles! A NEW CONSTITUTIONAL RIGHTS PARTY Needs to be Started!

The Whole Political BullS*&% That people Believe is Unbelievable!  The Truth is, they may all ACT like they are on different sides, BUT they are ALL OWNED, BOUGHT AND SOLD BY THE SAME PEOPLE!

All that Democratic/Republican Stuff is just False, yet they definitely have people divided.  Most people believe there is a difference!  Yet, they don't sit back and Think about it!  All the legislation goes through, though each side yells about the other during it, but in the end - the bill gets passed that special interest and Big Corporations WANT passed!  One side blames the other for "this or that happening"!  Yet, during each administration, the biggest negatively impacting bills upon the American People and For Big Government or Big Brother, gets passed.

No matter how many people call and voice their opinion on a bill or law, if it is For Big Corporations, well the people's voice does NOT matter!

The Democrats blame Bush and the Republicans for TARP - the Republicans Blame the Democrats for The Stimulus, the list goes on and on!  But Each side voted for the other legislation, they just yelled about it ahead of time!

Don't you get it....?  It is a GAME!  That is ALL!  They are Each Playing their Stated Parts in that GAME!  They are given their roles to play by those who have bought and sold each one of them!  The People are No longer represented in any way!  OH, they pretend to represent us and hear our voices, but in reality our voices were drowned out Decades ago by Big Money from Big Business and Special Interest Groups!

Just look at the Big businesses who received TARP Money - those banks and GM, they are giving very heavily to the Republican Party!  The same Republicans who are saying "No More Bailouts - We did Not Want the Bailouts"!  BUT those bailout companies are giving to them very heavily!  hhhmmm....... something just does NOT match up about that!

You see, it is all a game!  Now the Republicans will win the majority seats of the house this election and they will say "We won't let this or that happen and No more giving out money freely"!


Give me a Break!  If there is any legislation or Bailout that Wall Street Wants - Well all those campaign yelling and screaming against it, will be left behind!


Also, think about this................. Is there ANY Elected Official that has EVER Lived UP to their campaign promise after they were elected?  I know Obama Sure did turn his BACK on every single campaign Promise he made!  In fact he has OUT BUSHED BUSH!  He has taken More of our liberties away than ever before!


I have No belief in our Government in actually doing the right thing for the American People anymore! I don't believe a single campaign promise from either side!  I don't believe in the two party system either!


There needs to be another party - A REAL Party that is for the American People!  Don't even mention the Tea Party - that is Now a Joke and Karl Denninger who founded it, won't go near it any more, due to how corrupted and taken over by the Right Wing of the Republican Party through Special Interest!


WE NEED TO ALL SEND A COPY OF THE  BILL OF RIGHTS AND CONSTITUTION TO EVERY ELECTED OFFICIAL IN WASHINGTON AND ALL STATE ELECTED OFFICIALS!  WE NEED TO DEMAND OUR GOVERNMENT STOP BEING A GAME, WHERE EVERYONE HAS THEIR ASSIGNED ROLES TO PLAY THEIR PART!  WE NEED OUR ELECTED OFFICIALS TO STAND BEHIND THEIR CAMPAIGN PROMISES!  What We Really need to Do is Vote Every Single Career Politician OUT of Office!  

WE NEED A CONSTITUTIONAL RIGHTS PARTY STARTED AND NOT LET IT BE TAKEN OVER BY ANY EXISTING POLITICAL PARTY AT THIS TIME!

SEND COPIES OF BOTH TO YOUR ELECTED OFFICIAL - ASK ....DO THEY STILL KNOW THE MEANING OF THEM?  WHAT OUR COUNTRY WAS FOUNDED UPON - OUR BILL OF RIGHTS AND OUR CONSTITUTION!!

The Florida Bar Getting Involved - Asking JUDGES Why They have NOT Complained about "Paperwork Irregularities" In so many words!

I have been wondering when this question would come up!  Since we all KNOW there has been "paperwork irregularities" (Lets Call it What it REALLY is FRAUD), in Florida Foreclosures by Lawyers seeking foreclosures and Judges have stamped their approval of the Fraudulent Paperwork Foreclosures!  In fact in Florida many retired Judges were called back just to Stamp approval of Foreclosures.  There are reports of Judges taking 2 SECONDS Per Foreclosure to Stamp "Foreclosure Approved"!

Thus besides the Lawyers robosigning - and fraudulent forgeries of the paperwork, the Judges have Sanctioned the Fraud by Approving them and basically robosigning themselves, by not Really scrutinizing the paperwork to make sure it is correct.  They will approve hundreds of foreclosures per day!

There are many cases I have read about in Florida where Judges do not even ALLOWING homeowners to present their case of FRAUD, when being foreclosed upon!  The Judges have said "don't have time for that - Foreclosure Approved"!  It has been sickening reading about people NOT getting their Day in Court, as suppose to be Allowed in the United States!

Now, We have THE Florida Bar is getting Involved! GOOD FOR YOU!! THANK YOU!!

They are Asking the Judges "Hey, We are hearing about All this FRAUD from the Media, BUT, YOU have Never Mentioned it Once, as a complaint"!  They are Asking the Judges To Reveal the Lawyers that have committed and filed Fraudulent paperwork, so they can Review and Look at those Lawyers more closely!

This is Awesome, In other Words IMHO - The Florida Bar is CALLING OUT the Judges on This Issue of them Stamping Approval of Foreclosures WITHOUT looking at the Paperwork and Seeing the FRAUD Committed by Lawyers of MERS/Banks!

This letter is duplicated From StopForeclosureFraud website.

A MESS that can't be Papered Over! MSM Article On How Banks Can NOT Fix their Mortgage Security Fraud Problems! The Real Info Is Getting Out!

I am Impressed with This New York Times article, they have given the real information about the Mortgage Securities Problem of not being able to be fixed, though they fudged on the mortgage foreclosure problem.  I guess they still don't want people to know outright the MERS banks have no standing to foreclose on homes.

They do say, it will be a problem for the banks to fix all the paperwork, in regards to foreclosing on people, but they say it can still be done.  I believe there are many lawyers who disagree with that.  The article also states the MERS lawyers can go to Judges and say "gosh we are missing a paper or two, but we are still the legal owners of the mortgage, so you should allow us to foreclose"!  If that is an argument MERS lawyers plan on using in the future, Well... Judges have to rule by the Law!  If you don't have the paperwork, you Can Not Foreclose!

Anyone can go to court and say "I have the right to take that person's home, nope don't  have the paperwork to prove it, but you just have to trust me".  A Judge would not rule for a normal person doing that, so they should NOT rule for some Wall Street Banks making that argument either!

Portions:

According to real estate lawyers, most banks that have gotten into trouble because they didn’t produce proper proof of ownership in foreclosure proceedings can probably cure these deficiencies. But doing so will be costly and time-consuming, requiring banks to comb through every mortgage assignment and secure proper signatures at each step of the way — and it surely will take much longer than a few weeks, as banks have contended. 

Once this has been done appropriately (not by robo-signers, mind you) the missing links in the banks’ chain of ownership can be considered complete and individual foreclosures can proceed legally. 

None of this will be easy, however. And it will be especially challenging when one or more of the parties in the chain has gone bankrupt or been acquired, as is the case with so many participants in the mortgage business.

Still, addressing all of these lapses is possible, according to Joshua Stein, a real estate lawyer in New York. “If there are missing links in your chain of title, you go back to your transferor and get the documents you need,” he said in an interview last week. “If the transferor doesn’t exist any more, there are ways to deal with it, though it’s not necessarily easy or cheap. Ultimately, you can go to the judge in the foreclosure action and say: ‘I think I bought this loan but there is one thing missing. Look at the evidence — you should overlook this gap because I am the rightful owner.’


Big investors are already rattling the cage on the issue of inadequate loan documentation. Last week, investors in mortgage securities issued by Countrywide, including the Federal Reserve Bank of New York, sent a letter to Bank of America (which took over Countrywide in 2008) demanding that the bank buy back billions of dollars worth of mortgages that were bundled into the securities. The investors contend that the bank did not sufficiently vet documents relating to loans in these pools.

The letter stated, for example, that Bank of America failed to demand that entities selling loans into the pool “cure deficiencies in mortgage records when deficient loan files and lien records are discovered.” Bank of America has rejected the investors’ argument and said that it would fight their demand to buy back loans. 

Seems to me, things are going to get real interesting, with even more fireworks in the Mortgage Securities Side!  It has only just begun! 

Georgia Class Action Suit For ALL Homeowners Who Have Been Foreclosed ON by MERS!

Another Class Action Suit has NOW been filed for All Homeowners who have been foreclosed on in the State of Georgia against MERS! 

How Awesome is this!!  A class action for ALL homeowners who had been foreclosed on in the past by MERS banks!

The paperwork filed is at the link!  This should get the banks buzzing!

Now there is two Class Actions happening in the states for previous foreclosures - New York and Georgia!

Lets hope we see more states with this type Headline!

The Plaintiff shows herein that MERS’ foreclosure on Plaintiff’s property was not valid and was wrongful, as are those foreclosures by MERS on the property in the State of Georgia of all similarly situated persons to the Plaintiff wherein MERS sent the notice of foreclosure to the debtor and wherein MERS purports to have exercised the power of sale and auctioned the property. MERS does not have the authorized power to send a valid notice of foreclosure within the State of Georgia for those deeds where it is “solely a nominee” and does not have the authority or power under Georgia law to foreclose on a property or engage in an auction of sale on such property where is is “solely a nominee” on such deeds.

Chris Whalen on Bloomberg - Explains the Fraud of Banks - Starting at the Mortgage Securities and Why the Banks Have NO Right to Foreclose!

Beware of Attorney Generals Bearing Gifts. Florida Attorney General "Wants Paperwork Mess Resolved and Foreclosures to Begin Again Quickly"!

So, we all think the Attorney Generals doing a joint investigation is Awesome... Right?  Well... Maybe we should rethink that!  If they are going to come out as the Attorney General of Florida (Bill McCollum) has, in saying "He wants the mess straightened up right away and Foreclosures to Begin Again Quickly!

Wow, they have not even investigated the fact the MERS Banks are Fraudulently Foreclosing on people and he is wanting it over with, so the banks can keep throwing people out on the street and making them homeless, due to their fraud?!

That is outrageous!  I have been under the impression the Attorney Generals of all 50 states would be doing a comprehensive investigation into all the paperwork "irregularities"!  I would also hope that it would take longer than just a few days to come to the conclusion the banks could continue to foreclose on people.

I have no doubt all the Attorney Generals are getting midnight phone calls, warning them, their conclusions should be in line with the banks conclusions of being able to take the homes at their will.

The people of the U.S. are expecting a real investigation of the Wall Street MERS Banks Fraud from the Attorney Generals of all the states.  I sure hope they provide the truth and look as far back into where the fraud starts as the mortgage securities!

Portion:

“They’re training a lot of new people, and apparently now they are comfortable with the legality of their foreclosure process,” Mr. McCollum said in an interview. “The primary purpose of these meetings is talking about not having this stuff held back. It’s very important for us to not have a backlog of foreclosures. We already have a backlog. We don’t want it to get worse.”…

Mr. McCollum, Florida’s attorney general, said most errors in the foreclosure process have been “procedural,” adding that his top priority is to resolve the mess in a way that allows foreclosures to resume quickly….

The talks also centered on how to quickly get the foreclosure process moving again, according to the Florida attorney general’s office. Mr. McCollum described the meeting as more cooperative than combative.

Excellent Info - Ruling AGAINST MERS Right to Foreclose! No Secured Trust! ALL MERS Mortgages ARE the Same!

Here is a Ruling Against MERS and it's Right to Foreclose From Market-Ticker Article

Please go to the Market-Ticker Link to Read the WHOLE article of Information, Good and Informative!  Thank You, Karl for being on top of the MERS Fraud, as you ARE!

Sections of Article:

Now we get to the meat of it.  That is, The Trust must bring the action, either through an agent or by itself.  But as soon as it does, it is then burdened with showing that it actually has the note, and thus has received conveyance.  

The Motion here certainly suggests that the Fieldstone Mortgage Investment Trust Series 2006-3 (or perhaps HSBC Bank USA in its capacity as indenture trustee for that trust) was the holder of the note on the June 24, 2008, petition date. But at the time of the final § 362(e) evidentiary hearing herein, the parties discussed and Movant ultimately conceded that (I) the Note contained nothing indicating its transfer by Fieldstone Mortgage Company, (ii) the Motion was devoid of allegations regarding the details of any such transfer, and (iii) the record lacked any other documents related to the issue.

Karl Denninger *Original Founder of Tea Party * On Russia Today - How the Tea Party Has Been Corrupted, A Joke and Taken Over by the Republican Right Wing

Karl Denninger of Market-Ticker was on Russia Today.  Karl was the Original Founder of the Tea Party, which he says is now a Joke, Corrupt and taken over by the right wing of the Republican Party.

Thank you Karl for Trying!  What do you say... Want to Start Another One, where it is By The People and For The People, without special interest or those affiliated with an already existing corrupt Party allowed?

Inroduction to the Memorandum of Law - Life Cycle of a Loan - MERS! Fraud Foreclosures/Mortgages/Note/Debt

A reader sent me this information, linked to this site - It is a complete Legal type dossier of MERS Fraud, starting at the underwriting.

Very Small Portion - Beginning of the Memorandum of Law - Regarding MERS

 The following is an “overview” of the “life-cycle” of the presently orchestrated real estate promissory note and mortgage agreement scam. This “overview,” is not comprehensive and inclusive of all of the facts and situations which may apply to particular cases. Because of the suppression of all of the facts about the banking industry’s biggest swindle in the history of the planet, this “overview” can only expose discovered facts, as such facts, are known to date.

    1.  Without full disclosure of all elements of the “system,” or scam being conducted, and profoundly ignorant of how the “lender” will exploit the possession and manipulation of the promissory note and mortgage agreement issued by the unsuspecting so-called “borrower,” papers are autographed and delivered into the possession of the so-called “lender.”

    2.  The “lender” separates the promissory note and mortgage agreement and deposits each as separate transactions, as cash, in special “transaction accounts” belonging to the “lender.”

a.

This step creates an increase in deposits to the benefit of the “lender” in an amount equal to two (2) times the face value amount of what the “borrower” believes is the total amount of money in the transaction. If the “loan” amount is $100,000.00, the total amount of increased assets to the benefit of the “lender,” is $200,000.00.

    3.  The Federal Reserve authorized “deposit multiplication” scam begins, which increases the total amount of money generated by the deposits by an additional factor of approximately nine (9).

a.

The banking system will benefit from the creation of approximately $1,800,000.00, in addition to the initial $200,000.00 originally deposited. A $100,000.00 “loan,” will generate approximately $2 Million, out of which the “lender” will issue a check to the “borrower” for $100,000.00, benefitting from an immediate windfall of $1.9 Million.

    4.  The “lender” will then, sell the separated promissory note and mortgage agreement to an entity known on Wall Street as an “aggregator,” for transfer into a “pool,” and get paid $200,000.00 plus a commission of approximately 2.5%. (commission amount may vary).

a.

So now, the banking system is in possession of a windfall amount of cash of approximately $2.1 Million, based on the original $100,000.00 “loan.”

    5.  After “securitization” by government, either/or authorized corporate entities, the Wall Street gurus “tranche,” or slice up the “pool” into Mortgage Backed Securities (MBSs), Collateralized Debt Obligations (CDOs), Collateralized Mortgage Obligations (CMOs), Credit Default Swaps (CDSs), etc. Such instruments are then traded in the stock market and generate millions of dollars.

    6.  The bankers, in firm control of the monetary system and the economy, then engineer recession and recovery cycles which guarantee defaults on some of the “pooled” and “tranched” mortgages.

    7.  The CDSs, (Credit Default Swaps) function as insurance on defaulted mortgages, and the insider traders cash in the CDSs and generate additional millions of dollars as an added windfall of the scam.

    8.  And then, after millions of dollars have been generated from the initial so-called “loan” of $100,000.00, (the mortgage has already been paid off many times over) the banks, and debt collectors institute foreclosure actions against the hapless, and clueless, “borrower,” and do it all over again.

Two Front Crisis Of Foreclosure Fraud for Banks - Fraud Committed by Foreclosing on Homeowner Illegally AND Most Investors of Mortgage Securities are DEMANDING Their Money BACK! Looks Like Banks are Getting it From ALL Sides! AAhhh....... Don't cha Just Feel Sorry for Wall Street, Right now As The Walls Come Tumbling DOWN!

Bloomberg has an article saying the Wall Streets Banks are Getting it From all Sides!  First the Fraudulent Paperwork of Illegally Foreclosing on Homeowners!  BUT, NOW the BIG story is becoming ALL THE INVESTORS WANTING THEIR MONEY BACK - OUT OF MORTGAGE SECURITIES!  Already Billions Are being Demanded Back from Investors!

Seems to me, we have a situation that can Cause the Walls of Wall Street to come tumbling Down Very Fast!

They are getting Hit from all sides!  Oh..... lets all say together...... aaaahhhhhhh.... Poor Wall Street, don't cha just feel so sorry for them right now, as they are handing out the biggest bonuses ever in the history of Wall Street! (they know the end game is here? getting all they can, out, fast?)

Portion:

Shoddy mortgage lending has led bankers into a two-front war, pitting them against U.S. homeowners challenging the right to foreclose and mortgage-bond investors demanding refunds that could approach $200 billion. 

While federal regulators and state attorneys general have focused on flawed foreclosures, a bigger threat may be the cost to buy back faulty loans that banks bundled into securities. JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. have set aside just $10 billion in reserves to cover future buybacks. Bank of America alone said this week that pending claims jumped 71 percent from a year ago to $12.9 billion of loans. 

The biggest risks for banks may be loans packaged into mortgage-backed securities during the housing bubble, of which $1.3 trillion remain. The aggrieved bondholders include government-controlled firms Fannie Mae and Freddie Mac, bond insurers and private investors.

HUD Sect - Donovan, Speaking For White House: Says "Homeowners Will be made Whole" BUT his Exact Quote, Makes Me Question WHO He Will Protect and Defend, Due to the Way it is Said! Sounds Like He Means - He Will Protect and Defend the Banks!

HUD Secretary Shuan Donovan has come out Speaking for the White House has said "Homeowners will be made whole, due to the Bank foreclosure fraud " - But his Exact Quote Makes Me question WHO exactly will he be Protecting and Defending!

 Exact Quote:

"Where any homeowner has been defrauded or denied the basic protections or rights they have under law, we will take actions to make sure the banks make them whole, and their rights will be protected and defended,"

Seems to me, with the banks being mentioned last, his statement of their rights being protected and defended, could mean the Banks will be protected and defended.  The clarity of the statement is NOT there, IMHO!

He added, however, that the administration is focused on ensuring future compliance, rather than on looking back to make sure homeowners and investors weren't harmed during the reckless boom years. The administration is "committed to forcing institutions to change the way that they conduct business," Obama's top housing official said, "to make sure these problems don't happen again."

To me, that says - We Will NOT dig into the Fraud committed by the banks in the past, we are ONLY going forward to make sure they have their paperwork together in the future.

When Donovan was asked about the Underwriting Accusations of Fraud of the Banks he has said "All Is Well"!

UHhhh,  considering whistleblowers are out saying the FRAUD STARTS AT UNDERWRITING!  I would say All is NOT well!  To me that is a blatant LIE!  So, now why should I believe anything else he has to say?  Interesting it seems the HUD Secretary has said there has been an investigation going on since May of this year.  Really?  I was not aware of the government investigating the Banks Foreclosure Fraud! 

Donovan says:

"we have not found any evidence at this point of systemic issues in the underlying legal or other documents that have been reviewed."

 

Really?  No legal issues found by HUD regarding the foreclosure papers filed?  Gosh, darn..... Why are all the Judges finding Issues with the paperwork?  Why have the banks admitted Paperwork "irregularities"?  Why have 150 depositions of people who work in the foreclosure business admitted to not reviewing the paperwork?  OH, and WHY are signatures different on a lot of paperwork for foreclosures and EVEN ON Obama's release of Mortgage signature of the bank official?

 

Let's face the facts, the Banks started the Fraud with bundling and selling the mortgage securities many times over in different funds through MERS.  They have defrauded the States by getting around registration fees required for changing of assignment of the mortgage.  They have now defrauded the courts by creating fraudulent paperwork to be able to foreclose.  The servicers are the ones foreclosing on the houses on behalf of the owners of the mortgage - uh.... in laws ONLY the owner can foreclose on someone.

 

Let me give you the most simple scenario in showing the fraud of a servicer foreclosing on a mortgaged house through MERS.  

 

Lets say a neighbor had an issue with someone else, well I decide to sue that person for the neighbor.  I go to court and say "Your Honor, I am suing so and so for so and so and I would like One million dollars on behalf of the person I am starting this suit for".  "BUT, Your Honor the person I am suing on behalf of, has not signed any papers saying they wanted me to sue, I am just doing it for them, because they are annoyed"!  Now, do you think a Judge would ALLOW a suit like that?  Where someone is suing on behalf of another, with out the other being in court?  NO!  It would NOT be allowed, that would be against All judicial procedures of suits!  So, how come mortgage servicers have been ALLOWED to do the same thing on behalf of the owner of a mortgage through MERS?  Because there is NO Owner of a mortgage, they are securities that were bundled and they are actually all derivatives anyway.  Money created by banks out of thin air, it is all gambling with fake money on banks books - just transfers of numbers, no real paper.  

The Don't Ask Don't Tell Ending of Gays in The Military - Do you REALLY think this is Good? OR is it Because a Future Draft - NO ONE can then Get OUT of it By Saying "I am Gay"! The Government Does NOT Do anything, Without a Reason!

I see the headlines everywhere about the "Don't Ask Don't Tell" of Gays in the Military ENDING!

So many people think "Wow the Government is doing something good for those who want to join the military and those in it, don't have to hide anymore.

Do people REALLY think this is good?  Think about it!!  WHY would the government be doing this NOW?

They ARE CLOSING A LOOP HOLE FOR FUTURE MILITARY NEEDS OR A DRAFT!  The military is desperate!  They NEED more troops!  So what is the BEST LOOP HOLE TO CLOSE?  The Gays in the military loop hole!

The U.S. government is not stupid, they know by keeping the "Don't ask don't tell" as a law, then stops them when they do a draft.  It would be my first advice to Anyone being drafted - I would tell them "Get out of it, by saying you are Gay"!  It was my advice to people a few years ago, when there was a consideration of a draft during the Bush administration. 

So, NO LOOP HOLE anymore once this is abolished and Gays can serve openly!  Now, what is the next Loop hole, besides having to leave the country?  Remember the military has already lowered their standards for physical, mental and all other guidelines of being accepted in the armed forces and being a soldier a couple of years ago.

NEW Restrictions Taking Affect Immediately in New York State For Foreclosures - Lawyers Wanting to Foreclose For Banks, Have To Take PERSONAL LIABILITY That all Paperwork is Legal and Correct! That should STOP Foreclosures there!

Now, I wonder how many lawyers are going to be WILLING To take PERSONAL LIABILITY For banks to Foreclose on properties in New York State?!  How many are now going to RUN from having the Gravy of being a Foreclosure Lawyer for banks now?

A New Restriction Affective IMMEDIATELY Makes Foreclosure Lawyers take Personal Liability for making sure all the Paper work is Legal to be able to Foreclose on a property now in New York State!

Now, if ALL States Would make this a Requirement - I would BET ALL foreclosures would come to an IMMEDIATE HALT!  It is NOT possible to have Legal Paperwork to Foreclose on a MERS Home - ALL Paperwork has to have "irregularities" as the MSM likes to call it, to COVER UP THE FRAUD OF THE BANKS/SERVICERS TRYING TO FORECLOSURE!

Portion of Article:

New York is instituting new filing requirements in order to ensure the integrity of the home foreclosure process, the state’s chief judge said Wednesday.

Lawyers bringing foreclosure claims will now be required to file an affirmation that they themselves have taken reasonable steps to verify the accuracy of documents filed in support of residential foreclosures.

“We cannot allow the courts in New York State to stand by idly and be party to what we now know is a deeply flawed process, especially when that process involves basic human needs–such as a family home–during this period of economic crisis,” said New York State Chief Judge Jonathan Lippman in a statement.

The new filing requirement goes into effect immediately. In new cases, the affirmation must be filed along with the initial request for judicial intervention. In pending cases, it must accompany a request for judgment or must be submitted to the court referee if a judgment has been entered, but the property hasn’t yet sold.

Jim Rickards From Omni Inc. On King World News - Discusses The Foreclosure FRAUD of Banks and WHY it is FRAUD - though Banks are Trying to Spin as Paperwork Irregularities!

Excellent Interview on King World News with Jim Rickards the interview is about the Foreclosure Fraud of the Banks and Why they are claiming paperwork irregularities! 

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/10/20_Jim_Rickards.html

Interesting Perspective - George Washington Blog - A Mortgage of $300,000, is Worth 9 Million Defaulted and Foreclosed On with the MERS Banks!

George Washington Blog has an article up on ZeroHedge, saying a Mortgage of $300,000 taken out is Worth 9 MILLION To the Banks when it has Defaulted and Been Foreclosed On, due to how the Derivatives and credit default swaps are set up.

Portion:

But there might have been another reason that loaning to borrower who couldn't repay was the prevalent business model.

As foreclosure expert Neil Garfield notes, mortgages are worth a lot more if they default than if they perform.

Specifically, a mortgage worth $300,000 if the homeowner repays in full might be worth $9 million to the various owners of synthetic cdos and credit default swaps if the owner defaults.

We know - as alleged by the SEC:

Paulson & Co. effectively shorted the RMBS portfolio it helped select by entering into credit default swaps (CDS) with Goldman Sachs to buy protection on specific layers of the ABACUS capital structure.

Paulson also advised Los Angeles apartment mogul Jeff Greene to do something similar. Greene was heavily involved in the subprime market, and he bought the worst of the mortgage backed securities, and then bet against the bonds using CDS.

But Garfield says that it is broader than just a couple of investors like Paulson and Greene. He believes that was basically the business model for the entire mortgage industry.

He said that the big banks that packaged mortgage backed securities had an incentive to suck in really bad mortgages. If a certain percentage of the mortgages default, the cdo and cds side bets pay many times more than the actual mortgage could possibly pay.
This is yet another nail in the coffin, as far as I am concerned and explains the Goldman Sachs people laughing about their "shit mortgage funds" they were selling and then shorting!  It also explains WHY all the Big Wall Street Firms have MADE Money this year while those they advice have Lost Money this year, due to their advice. 

They Sell junk purposely and created mortgages purposely to Fail in packages just so they could short and bet against them!  The evil that I thought I knew of the Wall Street banks, is no where close to the evil they really are!  They will go against homeowners and investors for their idolizing the Paper of a Dollar!

Two Professors of Universities TEAR APART MERS Standing In ANY Foreclosure! They Say "There is NO Way Any MERS Banks Have ANY Legal Standing To Foreclose" Rabbit Hole is Getting Deeper!

I am quite surprised and amazed the MSM is revealing the TRUTH of MERS and the Banks having absolutely NO Standing to Foreclose on any Mortgage Holder!

CNBC has an article out - in it, two Professors Explain WHY MERS Banks/Servicers have NO Right to Foreclose!

Portion:

Mr. Peterson, in a paper with the dry title of “Two Faces: Demystifying the Mortgage Electronic Registration System’s Land Title Theory,” argues that MERS cannot have it both ways, and that it faces problems if it is deemed to be only one of them.

If it is an agent, he wrote, “it is extremely unclear that it has the right to list itself as a mortgagee,” as it does. State real estate laws, he said, “do not have provisions authorizing financial institutions to use the name of a shell company,” in large part because “the point of these statutes is to provide a transparent, reliable record of actual — as opposed to nominal — land ownership.”

If it is a mortgagee, Mr. Peterson added, it has the right to record mortgages in its own name, as it did. But since it does not own the actual loan, doing that could be seen as violating a long line of precedents that bar separating a mortgage from the underlying note in which the borrower promises to pay. He quotes from an 1879 Supreme Court decision holding that “the assignment of the note carries the mortgage with it, while an assignment of the latter alone is a nullity.”

If an assignment of the mortgage alone is a nullity, then the mortgage can no longer be enforced. The borrower would still owe the money, but no foreclosure would be possible and the borrower could sell the home without paying off the mortgage. The lender could sue the borrower, but collecting money from distressed former homeowners might be very difficult in many cases.

They have made the CASE for MERS and I applaud (which rarely happens) CNBC actually putting TRUTH About MERS in their Article compared to the Normal "Paperwork irregularities" MSM has been spinning the Foreclosure Fraud as!

Pimco, New York Fed, part of a consortium of eight Suing Bank of America, Demanding they buy BACK their Mortgage Securities! BUT I have Figured Out - FORECLOSURE is the ONLY Way the Banks Can Cover their Tracks, of their Underwriting FRAUD!

All that wrangling done by the Fed and Treasury in 2008, making One Bank take on another bank's liabilities and business, is now coming to roost.  They tried covering up various illegal practices by having mergers of failing firms.  Bank of America took on Country Wide Mortgage during that time, both being MERS Corp Banks.  So Bank of America got double to triple their exposure to the mortgage Service Foreclosure Fraud of MERS by taking them on.

With all the Mortgage Foreclosure Fraud now coming out, with investors of mortgage securities now DEMANDING their investments BACK from the banks due to the fraud of the underwriting and the foreclosure Fraud!  Remember the Fraud STARTS at the Underwriting and continues from there - that is why there are "paper irregularities"!  The banks may keep foreclosing on people, but at some point it will have to STOP, when enough Judges Rule AGAINST their Right to Foreclose!

I find it very interesting the New York Fed is involved in suing Bank of America for their investments.  When I became aware of the FRAUD about 2 years ago, and researched it, I figured the government and the Fed would not allow the full extent of fraud to come out, due to them having so much exposure of the fraud!

So, it seems to me with the New York Fed joining in on the suit, they may not be able to Stop it after all!  Especially with the whistleblowers coming out, saying each mortgage security was sold about 20 times - not just once!  The banks have Trillions from one property being sold multiple times, thus they Need to Foreclose for the Write Offs and then they don't have to Pay the investors on their investment - because they would have to Pay 20 funds off!

Foreclosure is the ONLY Way they can Cover their Tracks!  They Can Write Off the property - tell the investors "sorry" then resell it and it is ALL Profit!  That is WHY they are Foreclosing on Everyone they can through the MERS and they WILL NOT modify! 

They may be able to convince judges to rule in their favor, But when it comes to the underwriting FRAUD there is no changing what they did.  The New York Fed and Pimco, MUST KNOW that and that is why they want OUT NOW!  A class action happening in Florida includes the shareholders of MERS Corp Banks - that means everyone who has a share in any of the big banks are also being sued!

Portion of Article Linked:

The New York Federal Reserve Bank is part of a consortium of eight large institutional investment firms that is demanding that Bank of America repurchase loans included in mortgage securities.

Bloomberg reported earlier Tuesday that the New York Fed had joined with the Pacific Investment Management Company, better known as Pimco, and investment management firm BlackRock in an attempt to force BofA to buy back $47 billion in mortgage bonds

RULING BY THE LAW! SUPREME COURT Judge In New York, Dismisses WACHOVIA BANK Foreclosure Attempt with Prejudice! No Right to Foreclose - No Note or Debt - Lacks Standing to Foreclose!

I LOVE IT - When Judges/Supreme Courts RULE BY THE LAW!  They are Starting To!  Hopefully All will Start Ruling of No Right and NO Standing To Foreclose by the Servicers of the Loans! 

The SUPREME COURT OF New York ruled Wachovia Bank has NO Standing Nor Right to Foreclose, did not Provide Note nor Debt to the judge!  He dismissed it with prejudice!

SUPREME COURT – STATE OF NEW YORK
TRIAL TERM. PART 17 NASSAU COUNTY
Index No. 23255/09

PRESENT:
Honorable Karen V Murphy
Justice of the Supreme Court

WACHOVIA BANK, NATIONAL ASSOCIATION
3476 Stateview Boulevard
Ft. Mil, SC 29715

-against-

ANGEL VARGAS, MORTGAGE ELECTRONIC
REGISTRATION SYSTEMS INC. AS NOMINEE
FOR CONTINENTAL MORTGAGE BANKERS,
INC. D/B/A FINANCIAL EQUITIES, ET AL.,

EXCERPT:
Plaintiff has not provided a copy of an alleged servicing agreement between Plaintiff and Wells Fargo Bank, N.A. A vice president of Wells Fargo Bank, N.A. has provided what purports to be an affidavit of facts, however it is not clear that they are authorized to do so.

Additionally the subject mortgage was allegedly modified by Defendant Vargas and yet another entity known as Americas Servicing Company (“Wells Fargo Bank, N.A. doing business as America’s Servicing Company).

The Plaintiff herein lacks standing to bring this action. The purported assignment assigned the mortgage but makes no mention of the debt or note. (Kluge v. Fugazy, 145 2d 537, 536 N. 2d 92 (2d Dept., 1988); U.S. Bank, N.A. v. Collymore 68 A.D.3d 752, 890 N. 2d 578 [2d Dept., 2009]).

Under the circumstances Plaintiff has failed to establish that it is entitled to the relief sought and the complaint is dismissed with prejudice.

 

All MERS Information and Updates at this Link - Fighting a Foreclosure!

TOTALLY AWESOME!! Sheriff in Chicago WILL NOT ENFORCE FORECLOSURE EVICTIONS BY THE BANKS! Says "PROVE YOU ARE FORECLOSING LEGALLY"! MY HERO!

NOW HERE IS SOME TOTALLY COOL NEWS!!  I HAVE A NEW HERO!  A SHERIFF IN CHICAGO TELLS THE BANKS "HE WILL NOT ENFORCE BANK FORECLOSURES - TELLS THEM "PROVE YOU ARE FORECLOSING LEGALLY"!!!

How Awesome is That!!  The Sheriff - Thomas Dart is Standing UP to the Banks! 

I hope to hear Sheriffs All over the United States STAND UP as Sheriff Thomas Dart has in Cook County - Illinois.

Portion:

The sheriff for Cook County, Illinois, which includes the city of Chicago, said on Tuesday he will not enforce foreclosure evictions for Bank of America Corp, JPMorgan Chase and Co. and GMAC Mortgage/Ally Financial until they prove those foreclosures were handled "properly and legally."

"I can't possibly be expected to evict people from their homes when the banks themselves can't say for sure everything was done properly," Dart said in the statement.

"I need some kind of assurance that we aren't evicting families based on fraudulent behavior by the banks. Until that happens, I can't in good conscience keep carrying out evictions involving these banks," he added.

Link to all foreclosure Fraud info and updates

The News is AWESOME TODAY! BREAKING - CRIMINAL INVESTIGATION INTO THE FORECLOSURE FRAUD OF BANKS Due to Mail or Wire Fraud Laws by False Paperwork!

Just Breaking - A Federal Task Force is Now looking into Criminal Foreclosure Fraud of the Banks! 
I would LOVE To see the Bankers Go Down in Handcuffs!  But, I don't have much hope in this, since it is at a Federal Level and we know all the politicians are bought and paid for by the banks.  So they will stop or correct any real criminal investigation.  I bet there will be intimidating phone calls to those involved in investigating the criminal aspect, by the minions of the banks.

I am still thrilled this information has been released by a MSM outlet.  That means more and more people are going to start questioning and hopefully Standing up for their rights and Against the Fraud!

Portion:

The Obama administration's Financial Fraud Enforcement Task Force is in the early stages of an investigation into whether banks and other companies that submitted flawed paperwork in state foreclosure proceedings may also have misled federal housing agencies, which now own or insure a majority of home loans, according to these sources.

The task force, which includes investigators from the Justice Department, Department of Housing and Urban Development and other agencies, is also looking into whether the submission of flawed paperwork during the foreclosure process violated mail or wire fraud laws. Financial fraud cases often involve these statutes. 

Link to all information on MERS Foreclosure Fraud Updates

EDIT - Michael Rivero from WhatReallyHappened emailed me back, regarding this information.  He thought of something I did not, he said this:

They will use the Fed investigation to shut down the state investigations

I had not thought of that - But he is Right - they will/may shut down the AG's joint investigation and make it Federal - MORE Control and Stopping any Real Charges against the Banks!

Bombshell From a CFTC Judge About Another Judge - The Rulings Always in Favor of Big Corp against Investors! HUGE BOMBSHELL!

WOW - Huge BOMBSHELL regarding Manipulations of Metals and Commodities of the CFTC from a Judge that is retiring!  He OUTED Another Judge Who ONLY RULES in Favor of the Big Corporations and NOT the investors!  Judge Painter is retiring in January 2011 - he just released a letter of why he is and made a shocking accusation against the other CFTC Judge Levine!

The link is in PDF form.  

He Wrote a retirement Letter and Attached a copy of an article from 2000 from the Wall Street Journal: If you got a beef with a futures broker - this judge isn't for you - In Eight years at the CFTC Judge Levine has never ruled in an investors favor - about the Judge he says - does NOT rule for investors!


He accuses Judge Bruce Levine of fraud ruling basically and intimidating those who have a case into not filing it or delaying it enough, to where they gave up Hope!

Portion of letter from Judge Painter regarding Judge Levine.

"There are two administrative law judges at the Commodity Futures Trading Commission: myself and the Honorable Bruce Levine. On Judge Levine's first week on the job, nearly twenty years ago, he came into my office and stated that he had promised Wendy Gramm, then Chairwoman of the Commission, that we would never rule in a complainant's favor. A review of his rulings will confirm that he has fulfilled his vow.

Judge Levine, in the cynical guise of enforcing the rules, forces pro se complaints to run a hostile procedural gauntlet until they lose hope, and either withdraw their complaint or settle for a pittance, regardless of the merits of the case" 

 
Now, we need to just wait until Bart Chilton comes out with what he say he will, regarding silver manipulation if the CFTC does not.  With this bombshell information about a judge from another judge, maybe we will get the silver manipulation information sooner than we thought! 

Things sure are getting interesting with all these bombshells coming out about the banks and commodity manipulations and a judge in the pocket of big corp.

Gosh, I think I may start needing popcorn with the show happening everywhere!

JP Morgan has More Trust Issues with Funds - They Would Take Portions of Profits from Funds they Advised, BUT Never Participated in the Losses with Funds, when their Advice was NO Good!

Well, what do people expect from those large Wall Street Banks?  All of them on based on nothing but GREED!  Seems it is coming out that JP Morgan would take a portion of profits in funds and investments they advised clients on - BUT when it came to Losses those funds and clients took that Hit on their Own!

Portion:

JPMorgan Chase & Company has a proposition for the mutual funds and pension funds that oversee many Americans’ savings: Heads, we win together. Tails, you lose — alone. 

Here is the deal: Funds lend some of their stocks and bonds to Wall Street, in return for cash that banks like JPMorgan then invest. If the trades do well, the bank takes a cut of the profits. If the trades do poorly, the funds absorb all of the losses. 

The strategy is called securities lending, a practice that is thriving even though some investments linked to it were virtually wiped out during the financial panic of 2008. These trades were supposed to be safe enough to make a little extra money at little risk. 

JPMorgan customers, including public or corporate pension funds of I.B.M., New York State and the American Federation of Television and Radio Artists, ended up owing JPMorgan more than $500 million to cover the losses. But JPMorgan protected itself on some of these investments and kept millions of dollars in profit, before the trades went awry. 

So, it seems pensions and all who they have advised in investments, they have the winning card no matter what.  It is like playing Black Jack at a casino, no matter what the Dealer will Win and You will Lose.  Who knew the stock market was like a casino, no matter what the House ALWAYS WINS!  Besides they have all the politicians in their pockets too - So.... it is Always a Win, even if they have to change the laws to make sure they Win and Never Lose!