In Iceland the government forgave all mortgages to those in Foreclosure. THE ECONOMY OF ICELAND RALLIED AND IS NOW STABLE. The people went back to spending and living. Happy and content they returned to living and supporting their families and the community.
IF the amount of money the United States government put into the bailouts for the Banks, was used to bail out Americans from the wrongful foreclosures it would force the United States back to economic stability.
The person who wrote the statements below is one of Many, many, many Americans who are struggling with the dishonesty of our countries GREED that participated in the corporate corruption which has infiltrated every aspect of our indentured AMERICAN lives.
“I LOST MY HOME OF 40 years thru no fault of my own. IMPROPER UNTIMELY SERVICE, forgeries and notary fraud and switch and bait as well as not knowing if the bank foreclosing—EVEN HAD THE RIGHT TO FORECLOSE, YES THAT IS CORRECT—NOT THE OWNER OF THE MORTGAGE.”
“But if you start with the premise that the basic transaction, the only transaction was that investors advanced money for residential mortgage loans, you start coming up with some very different answers and some thorny political and judicial issues.
If the money came from investors, how did the banks lose money? If the investors took the cash loss, why are the banks being permitted to (a) take the paper loss and (b) collect as though they had a monetary loss? If the rating agencies were bribed, why are they not being prosecuted? If the insurance companies and counterparties to credit default swaps were defrauded, why (a) are there no prosecutions for criminal fraud and (b) why is there no recognition of the lies and fraud committed on homeowners, title companies (unless they were con-conspirators) and their successors as each refi or sale compounded the corruption of our title system?
If the insurance paid off, the CDS and other hedges paid off all to the advantage of the banks, why and how could anyone possibly say that the insurance and other proceeds paid to the banks were not agents for the investor/lenders? If the banks who are foreclosing claim the authority to do so through agency and powers of attorney and appointment, why doesn’t that road travel both ways? If we are going to allow the insurance money and CDS proceeds to be retained within the financial community why are the banks allowed to maintain balance sheets that are grossly misstated by the value of loans and bonds on which they already collected through insurance and which are valued in the open market at pennies on the dollar rather than 100 cents on the dollar now that these transactions are gradually being repatriated onto the balance sheets and income statements of the banks?” livingliesblog.wordpress.com
Really is that hard to understand? They STOLE, CHEATED and LIED. and with the profits from it PAID OFF the regulators. The document trails prove beyond a shadow of a doubt that theft, breach of fiduciary duty, breach of contract, fraud, theft and cover-up were at the heart of what Wall Street called a securitization plan.
” ‘Counter intuitive’ as stated by Reynaldo Reyes, the asset manager for Deutsch; The reason it is,
is that there is NO explanation except lying, cheating, stealing and cover-ups! From the top down, the bottom up or even start in the middle and spread out to the top and bottom, there is no connection between the money trail, the PROMISES AND REPRESENTATIONS MADE, and which in practice was not securitization of credit but rather a PONZI scheme completely dependent upon more investors buying BOGUS MORTGAGE BONDS. Boiling down to one thing; ” it doesn’t make sense, it was illegal from the start and it will never make sense!” http://livinglies.wordpress.com/2013/01/22/they-just-dont-get-it-meltdown-primer/
Welcome to LITTLE FOLK’s were a community of Americans are invited everyday to participate in the discussion about our ECONOMY that seems to be dependent on factious monopoly of our monitory system.