Banks Allowed To Get Away With Massive Criminal Fraud
The following recent headlines describe the current state of affairs throughout the entire American mortgage industry.
They tell a tale so implausible and unbelievable that most will dismiss the whole scheme as though it never took place.
Unfortunately for the USA real estate market, this purposely pre-planned, precisely engineered and perfectly coordinated scam on the American homeowner did take place, and we only see the very tiny tip of the iceberg.
Headlines as follows:
JPMorgan Can’t Kill Mortgage Fraud Claims — Courthouse News Service
Even with glaring headlines like these showing up all over the mainstream media (MSM), very little about the deliberate criminal scheme to defraud the American homeowner has ever come to light. There are very good reasons why this is the case … and it’s all about complicity.
Truly, if ever there was a conspiracy to defraud the American people out of there money and homes, this is it. There are many players involved, but the main cast of characters include first and foremost the US Federal Government. In order of their degree of criminal participation, however, the Mortgage Banking Industry is first on the list. Next we come to the judicial and legal class who have enabled and abetted this entire institutional rip-off to systematically defraud homeowners.
Let’s start with the many Democratic legislative ‘achievements’ which very nicely set the stage for this ongoing fraud to take place. If one were to dig into the annals of law introduced by Democratic Congressmen like Barney Frank and Christopher Dodd of Massachusetts, one would quickly see how the the legal framework was put into place which legalized the climate in which theft, larceny and fraud took place every moment with the government’s blessing. The following articles well explain just a little of the legislative mechanism which promoted this mortgage crisis.
Through the posting of these headlines we do not mean to imply that the entire financial crisis was caused by the Democratic side of the counterfeit coin known as the two party system. Certainly, both Republican and Democratic Administrations, and Congresses, were responsible for legislating the laws over decades which permitted this mass theft from the American people.
Who is going to be made whole should such lawsuits like this one referenced in the above headline be successful? Do you really think the homeowner is ever going to see a cent of any settlement or judge-awarded compensation and/or damages?
Let’s be serious. Any tranfer of funds from the banks to the government is merely hush money for not opening up an even bigger pandora’s box of malfeasance and corruption, which could have only taken place between those who are “thicker than thieves”.
In truth, the reality of the current mortgage loan securitization crisis is so endemic, so pervasive, so deep that if the culprits (both institutional and individual) were prosecuted the entire system would collapse in a heartbeat. Which is why the real justice seekers have had such a hard time prying open the can of criminal conduct surrounding the whole sordid affair.
Remember, it is also the judges and attorneys who are so invested in keeping this crime spree strictly under wraps because of their political payola required around election time (like this year). Much more significantly, the very financial well being of countless law firm relies heavily on the banking and real estate business.
How does a law firm sue a bank that contributes substantially to it partners’ profits. It doesn’t. It also can’t because of simple conflicts of interest which abound everywhere.
Likewise, how does a sitting judge rule against a BIG BAD BANK in favor of a BROKE, BUSTED and DISGUSTED homeowner in the case of a fraudulent foreclosure, fraudulent collection attempt or fraudulent mortgage application process (read robo-signing). Again, the ‘Honorable’ Judge will almost always take the side of the bank because the homeowner has no power, no money for campaign contributions, no real political standing to make a dent in the judge’s re-election.
The Government ~~~ The Banks ~~~ The Judiciary & The Attorneys
The Triumvirate of Power, which stands in the way of the banks ever being brought to justice concerning this fraud of the millennium, is represented by three pillars that cannot be budged. How, pray tell, does a homeowner realistically fight city hall, the bank as well as his attorney and presiding judge?
At the end of the day, it will long be understood that the triangulation among the BIG THREE and incestuous relationship between and among them is what guaranteed the US national mortgage loan crisis would not be dealt with in any meaningful way.
These BIG THREE will no doubt go down in history for creating, enabling and sustaining the greatest mortgage loan fraud in world history. And because of real estate’s interpenetration with all the other markets – stock, bond, commodity, derivative, currency, etc. – the mortgage banks’ epidemic of fraudulent loans will be viewed as the straw that broke the camel’s back. We’re talking the collapse of the entire global economic/financial system, especially where fake, fiat currency has been hard at work undermining national economies across the planet.
Here are two more headlines to consider when anyone is being harassed by their bank for late payments due to loss of employment, or more threateningly, when they find themselves in the middle of a mortgage foreclosure process.
Lastly, here is a little known remedy which can effectively short-circuit a mortgage loan foreclosure process. It is based on the fact that the great majority of mortgage loans suffered the same fate over the past decade. The two key aspects of the securitization audit are that they can demonstrate the following points of fact:
#1 That the mortgage was separated from the note.
#2 That the mortgage was securitized and bundled into a investment product which was sold off to another entity, thereby no longer being owned by your originating lender or current loan processor or mortgage bank who may be foreclosing.
Because of this extremely common predicament, the bank you are currently dealing with has no legal claim to your mortgage payment. And, if certain circumstances are present, they are committing clear cut fraud by either attempting to collect a late payment or foreclosing on your home.
State of the Nation 2012
October 2, 2012
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