Video – How Wall Street Shafted Main Street

How Wall Street Shafted Main Street

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And let’s not forget Capt. Jack’s

How Main Street has Destroyed Wall Street

How Main Street has Destroyed Wall Street

Posted by Capt. Jack

I guess now would be a good time to shoot the greedy homeowners.

It’s crystal clear. From the very beginning the homeowners have gamed the system. They started by tricking the property appraiser (lender’s agent) into submitting an outcome-based appraisal.

Then, millions of homeowners shrewdly conned the “lenders” into dismissing all agency and fiduciary responsibility in the underwriting process….going so far as to force the “lenders” into forging documents.

Then, the greedy homeowners forced the “lenders” to securitize the loan in such a fashion as to bifurcate the mortgage from the note.

On top of that, the homeowners secretly cooked up the concept of “Credit Default Swaps” and forced the “lenders” to insure the collateral at the full (outcome based) value 30X over.

Having successfully pulled the wool over everyone’s eyes – these irresponsible homeowners showered themselves with well deserved bonuses.

Realizing they were too big to fail, these irresponsible, reckless homeowners lined the pockets of legislators and received enormous sums of taxpayer bailouts.

The result of these cunning maneuvers by the fraudulent homeowner scheme has them sitting fat and happy in the cat birds seat. Yup, that’s how they did it. And they’re getting away with it.

Savings drained – check, 401ks all gone – check. Kicked out of their homes – check. “Lenders” made whole many times over via Credit Default Swaps – check. Homeowners foreclosed and “lender” buys back property for pennies on the dollar – check.

Follow the money and you’ll find the culprit. It’s about time we hold these homeowners accountable.

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4closureFraud.org

Comments
6 Responses to “Video – How Wall Street Shafted Main Street”
  1. Lisa A. Murzin (Pelcz) says:

    When I went to court last Monday and told the Judge in charge of my Injunction that I was filing a Motion for an Order Seeking Recusal of the trial judge due to her bias, unfairness and incompetence in foreclosure matters, he seemed surprised. He said that in six years of this Judge being on the bench, nobody had ever accused her of Incompetence, and I replied that when I told her (this Judge) the bank had been being investigated by The Federal Office Of Thrift Supervision in 2008 for their Predatory and Unlawful Lending Practices, and received a Cease and Desist Order and 2 Civil Money Penalties from this Office in 2009 and 2010, so I didn’t have the information needed in 2008 to go after them for the TILA, RESPA, HOEPA, REGULATION Z, and UNCONSCIONABLE LOAN VIOLATIONS, and the Violation of the CT CLEAN HANDS DOCTRINE, her response was “I don’t care if the bank was investigated”. And that’s what is wrong with the system, too many Judges just don’t care, because it’s not being done to THEM or someone THEY care about. We (the homeowners) are just a bunch of lowlife scum that don’t want to pay our bills! And now the Judges in CT REF– USE to grant a 60 day moratorium on foreclosures, so they can go through the paperwork, like they SHOULD, and find the fraudulent documents that were filed, it again goes to show that THEY DON’T CARE, NOT THEIR PROBLEM!!!! WE NEED TO MARCH ON WASHINGTON AND DEMAND JUSTICE BE DONE FOR US!!!!!!!!!! WE did not CREATE this FRAUD, yet WE are the ones paying the price by losing our homes!!!!! AND THE BANKS KEEP GETTING RICHER WITH THEIR BAILOUTS, AND THE JUDGES KEEP LOOKING THE OTHER WAY !!!!!!!!! WHAT FRAUD???????!!!!!!!!!! IF EVERY HOMEOWNER that is in foreclosure, due to what they SINCERELY BELIEVE to be FRAUD done to them by their Lender, got TOGETHER on a SPECIFIC DAY and MARCHED ON WASHINGTON, DEMANDING JUSTICE, SOMETHING WOULD HAVE TO BE DONE!!!!! WE CAN NOT CONTINUE TO SIT COMPLACENTLY WHILE THESE FRAUDS CONTINUE TO BE PERPETRATED AGAINST US, TAKING AWAY OUR HOMES AND THROWING US AND OUR FAMILIES INTO THE STREETS!!!!
    WE NEED TO ACT NOW!!!!!!!!!!

  2. Linda Venturella says:

    I say we start a where’s the note? campaign. We can all pitch in. Have flyers printed up stating: ATTENTION HOMEOWNERS!! Do you know who owns the right to your property? Ask your lender to produce the note. Also let them know there is a website they may use to make this process easier , wheresthenote.com. We could pass out these flyers and post them all over the country. Election day is in a couple of weeks. I don’t think the WH could ignore this. We really need to all pitch in and do this. Wall Street and the Banksters are trying to make us look like the crooks but they are the ones with the egg all over their faces! We need to organize.

  3. Officer of the Law says:

    Dont’ forget that so many people felt so sorry for those poor banks and were so worried that the economy would crash if all the bankers didn’t have big bonuses for yachts and such that millions of these homeowners tricked the bankers into switching the paperwork at closing so that the homeowners had to pay the banks a lot more than they were originally quoted by the banks. Then, these homeowners act surprised that their payments were double what the bankers originally promised.

    The generosity of these homebuyers resulted in millions of American families ending up with home loan payments that they couldn’t afford, and then, American taxpayers had to bail out all of those banks to keep the economy from crashing anyway. Now, on almost every corner, we see bankers with signs saying that they will work for food.

    At least, that is what the banksters and their minions would like to have you believe. All they need is another bailout and some new laws, like the IRON Act, to help them get the gifts that they were all promised and keep the ecomony going by having all of the money and assets flowing into their pockets. When will they pull out the claim that it is for the children?

    The bankers’ story is almost as unbelievable as the folks in government, especially the prosecutors, who seem to vacillate between claims that fraud is not fraud and that they need new laws to make fraud a crime.

    Ask any law enforcement officer that you know whether prosecutors do favors for the rich and powerful, and if they have been around for more than a year or two, they will tell you about the double standards prosecutors have for doing justice.

    Also, if Congress had not made the locations of prosecutors’ homes secret, people might realize how far prosecutors can stretch their salaries. With some of their million dollar homes, I’m surprised that they have any cash left to pay their mortgage loan payments. Of course, I wouldn’t be surprised to find that a lot of them managed to pay their loans off early somehow, like so many powerful people in the government whose off the books benefits far surpass the benefits of those of us who are sent to do the dirty work for them and their benefactors.

    • Officer of the Law says:

      By the way, Elliot Spitzer penned an article about how predatory lenders were taking advantage of homebuyers, how the Bush Administration was looking the other way, and how this rampant fraud might threaten our economy. It appeared in the Washington Post on February 14, 2008. See http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302783.html

      Within a month, the Bush Department of “Justice” announced that it had found out that Spitzer was seeing a prostitute and was going to prosecute. Spitzer had to resign his post as Governor of New York in order to avoid prosecution.

      The New Republic published an article by Law Professor Scott Horton which pointed out that the prosecution of Spitzer was politically motivated. See
      http://www.tnr.com/article/politics/spitz-out?id=c5005f31-237e-4f9d-bca1-891c7aa2b7b2

      A very similar pattern was seen with Illinois Governor Rod Blagojevich. He criticized Bank of America for pulling the credit line of a solvent manufacturing company leaving about 1,000 people unemployed right before Christmas in 2008 right after the banks had just gotten $800,000,000,000 to bail them out so they could “keep credit flowing to keep the economy from crashing.”

      Governor Blagojevich announced that he would move the State’s money out of accounts with Bank of America, and he was arrested the very next day. By the way, his arrest was very unusual in that it was made prior to an indictment, an arrest like this is something usually only seen when a criminal is caught in the act of committing a crime.

      Does anyone need any more to understand who the prosecutors work for and why they cannot seem to take any action to hold any banksters accountable for any of their multitudes of crimes?

  4. Andrew says:

    It’s about time the Media started to catch up on all this mess. They are following a very smart man in Capt’ Jack.

    To read his musing of this FRAUD is both entertaining and educational.

    Capt’ Jack, I Thank You

  5. John R. says:

    You know I’m really feeling left out here. That day, that one day when all 3+ million of the other homeowners Nationwide got on that conference call and plotted and schemed to rob the Banks of their rightful money and equity…. nobody called me to let me know! And I’m kinda pissed about it. I mean, I mean, during my own foreclosure when I got back the copies of the doc’s I supposedly signed, they had me listed for a $3,500 a month income! I’d been unemployed for 5 years building my own house from parts I got out of building site dumpsters (truth)(for the Wall Streeters… truth is the opposite of lying… look it up). I WISH I’d had a $3,500 a month income! They said I had no child support payments, yet they also had the doc’s from child support showing I did and it was on my Credit report too! I would say I wish I had no CS payments but I love my kids to much for that. And then they said I wasn’t even a US Citizen! I was born in Ohio and so was, that I know of, about 5 generations of my family. Their Atty’s said I changed the doc’s! The doc’s were in Florida in a secured building…. I’m in Ohio! How the hell could I do that? I mean really…. is the world out to get me? I mean… I show the Court all this, all these TILA, HOEPA, RESPA, FDCPA (and a bunch more violations of THE LAW) violations and I show them how the good folks at Wells Fargo didn’t even have Legal & Lawful possession of the note & mort. until AFTER they’d already filed against me, I showed the Courts how the people giving Wells THEIR assignment didn’t have the right to do that cause all the doc’s supposedly assigning my note to them had no signatures… and still the Court says I didn’t cross my T’s so I lose. Is it me? I mean, I mean, I mean… people tell me I’m pretty talented! I quit drinking alcohol to any excess 20+ years ago… I’ve always stayed out of trouble…. I paid off my kids! Hell, I built an entire house that will house taxpayers for probably the next 300 years! And I did it without the assistance of even 1 subcontractor (I couldn’t afford it otherwise!). But I would have if I could have! So anyway Please, please, please, next time ya all have a conference call like that last one, could ya please include me? Please? I’m feeling really kind of deserted out here, living in the woods, all by myself, waiting for them to sell my house at the auction, with no where to go, and no money to get there.

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