NY Times – How the Banks Put the Economy Underwater

Extremely well written, seamless narrative that reads like a script for a special Halloween episode of American Greed

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This excellent editorial helps make the point that a national moratorium is the only just solution.  Criminal investigations, indictments and imprisonment will go a long way towards helping our country recover.  Allow the economy to recover enough to lift some of the terror and distrust. Allow breathing room and time for the start of job creation so those who are unemployed due to the engineered economic collapse don’t face the loss of their family’s home when they have no income or alternative housing options.  Only then, implement the principal correction (need to change the language from write down to correction) plans and other solutions after an in depth, exhaustive search for information on exactly what happened and who has been unjustly rewarded.

There is so much we don’t yet know or are not prepared to address. For example: millions of homeowner paid HAMP dollars have been put into mortgage servicers’ “suspense accounts” without being applied and millions of dollars in predatory fees have been added millions of mortgage balances. The shysters have no incentive to disclose those figures instead they are highly motivated to do what they do best; consider funds belonging to others as free for the taking while they obfuscate the truth and the misrepresent facts.  Solutions built on inadequate understanding of the scope of the problem will worsen this disaster.  There are so many possible pitfalls.  It would behoove us to not rush into any solutions until we’ve learned more and really brainstormed the implementation. Allow for a bit of healing time to occur.  If we reward, legalize, or leave unpunished the massive financial and constitutional crimes committed, then we have instructed Americans in the harshest of ways that crime pays, laws can be ignored,  alternative dispute resolution methods are to be sought since courts offer no hope of fairness or objectivity, fabrication of legal documents is accepted practice, notarizing documents is a do-it-yourself project, and fraud, deceit, misrepresentation, and forgery are basic skills of survival in America.

L

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How the Banks Put the Economy Underwater

By YVES SMITH

IN Congressional hearings last week, Obama administration officials acknowledged that uncertainty over foreclosures could delay the recovery of the housing market. The implications for the economy are serious. For instance, the International Monetary Fund found that the persistently high unemployment in the United States is largely the result of foreclosures and underwater mortgages, rather than widely cited causes like mismatches between job requirements and worker skills.

This chapter of the financial crisis is a self-inflicted wound. The major banks and their agents have for years taken shortcuts with their mortgage securitization documents — and not due to a momentary lack of attention, but as part of a systematic approach to save money and increase profits. The result can be seen in the stream of reports of colossal foreclosure mistakes: multiple banks foreclosing on the same borrower; banks trying to seize the homes of people who never had a mortgage or who had already entered into a refinancing program.

Banks are claiming that these are just accidents. But suppose that while absent-mindedly paying a bill, you wrote a check from a bank account that you had already closed. No one would have much sympathy with excuses that you were in a hurry and didn’t mean to do it, and it really was just a technicality.

The most visible symptoms of cutting corners have come up in the foreclosure process, but the roots lie much deeper. As has been widely documented in recent weeks, to speed up foreclosures, some banks hired low-level workers, including hair stylists and teenagers, to sign or simply stamp documents like affidavits — a job known as being a “robo-signer.”

Such documents were improper, since the person signing an affidavit is attesting that he has personal knowledge of the matters at issue, which was clearly impossible for people simply stamping hundreds of documents a day. As a result, several major financial firms froze foreclosures in many states, and attorneys general in all 50 states started an investigation.

However, the problems in the mortgage securitization market run much wider and deeper than robo-signing, and started much earlier than the foreclosure process.

When mortgage securitization took off in the 1980s, the contracts to govern these transactions were written carefully to satisfy not just well-settled, state-based real estate law, but other state and federal considerations. These included each state’s Uniform Commercial Code, which governed “secured” transactions that involve property with loans against them, and state trust law, since the packaged loans are put into a trust to protect investors. On the federal side, these deals needed to satisfy securities agencies and the Internal Revenue Service.

This process worked well enough until roughly 2004, when the volume of transactions exploded. Fee-hungry bankers broke the origination end of the machine. One problem is well known: many lenders ceased to be concerned about the quality of the loans they were creating, since if they turned bad, someone else (the investors in the securities) would suffer.

A second, potentially more significant, failure lay in how the rush to speed up the securitization process trampled traditional property rights protections for mortgages.

The procedures stipulated for these securitizations are labor-intensive. Each loan has to be signed over several times, first by the originator, then by typically at least two other parties, before it gets to the trust, “endorsed” the same way you might endorse a check to another party. In general, this process has to be completed within 90 days after a trust is closed.

Evidence is mounting that these requirements were widely ignored. Judges are noticing: more are finding that banks cannot prove that they have the standing to foreclose on the properties that were bundled into securities. If this were a mere procedural problem, the banks could foreclose once they marshaled their evidence. But banks who are challenged in many cases do not resume these foreclosures, indicating that their lapses go well beyond minor paperwork.

Increasingly, homeowners being foreclosed on are correctly demanding that servicers prove that the trust that is trying to foreclose actually has the right to do so. Problems with the mishandling of the loans have been compounded by the Mortgage Electronic Registration System, an electronic lien-registry service that was set up by the banks. While a standardized, centralized database was a good idea in theory, MERS has been widely accused of sloppy practices and is increasingly facing legal challenges.

Be sure to check out the rest here…

Yves Smith is the author of the blog Naked Capitalism and “Econned: How Unenlightened Self-Interest Undermined Democracy and Corrupted Capitalism.”

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4closureFraud.org


I sure could use some…

Comments
27 Responses to “NY Times – How the Banks Put the Economy Underwater”
  1. l vent says:

    @BUvictim;Our individual problems are all of our problems. I do not think we can win this fight individually. I realize that some of us are closer to being foreclosed on than others and that some of us need to do what we have to do right now to save their homes from being foreclosed on. We have to look at the bigger picture though and maybe if we rally together, all of our actions and voices together might have more of an impact than just one at a time. @hogwarts:I AM NOT SORRY ABOUT THE YELLING. WE NEED TO BE MORE PROACTIVE AND STOP WHINING ABOUT OUR OWN INDIVIDUAL PROBLEMS AND TRY TO FIND SOLUTIONS TO HELP EVERYBODY.WE NEED TO ORGANIZE AND WORK TOGETHER. I AM A CHRISTIAN,TOO. CHRISTMAS IS MY FAVORITE HOLIDAY BUT IT HAS BECOME WAY TOO COMMERCIALIZED. YOU ARE SUPPOSED TO DO UNTO OTHERS AS THEY DO UNTO YOU. SINCE WHEN IS IT CHRISTIAN TO ROB FROM THE POOR TO SAVE THE RICH? I DONT KNOW WHERE YOU ARE COMING FROM. WE ARE SUPPOSED TO SIT BACK AND SHUT UP AND LET THE RICH ROB WHAT WE HAVE LEFT? PERSONAL WHINING DOES NO GOOD. I AM NOT GOING AWAY QUIETLY, NOT A CHANCE. IF INTERNET YELLING MIGHT SAVE US BECA– USE SOMEONE MIGHT HEAR US OTHER THAN EACH OTHER THAN I AM GIVING THAT A TRY.

    • BU victim says:

      1 VENT. . .you are right. . .maybe a class action suit could be initiated right here. . .with enough support we could hire a class action attorney to enjoin BOA, Wells Fargo, GMAC, BankUnited and others. The judges, who seem partial to the banks, might give sway to group persuasion.

  2. l vent says:

    @hogwash; YOU ARE 100 PERCENT RIGHT. ONE PERSON CANNOT SAVE THE COUNTRY, THE PEOPLE IN OUR COUNTRY ARE STARTING TO REALIZE WHAT HAS TAKEN PLACE HERE : THE BIGGEST THEFT OF OUR WEALTH IN HISTORY. THOUGH EVERYONE HAS HAD A STINKING SUSPISCION I AM SURE WHEN THEIR 401 K AND OTHER INVESTMENTS SEEMINGLY DISAPEARED INTO THIN AIR ALONG WITH OUR JOBS. NOW THEY ARE TRYING TO STEAL OUR PROPERTY TOO, WE ALL NEED TO DO OUR PART TO UNCOVER THE MASS CORRUPT BEAST THAT STOLE OUR WEALTH AND NOW WANTS TO STEAL OUR PROPERTY,TOO. THE GOVERNMENT NEEDS TO STOP COVERING UP FOR CORPORATE AMERICA. THE BEAST AND THE CORRUPT BANKSTERS NEEDTO DIE.

    • BUvictim says:

      I vent. . .you talk too much. We got the message. Now lets get back to some meaningful discussions about our personal problems with the shysters and how to solve our immediate problems. Me. . I’m going into summary judgement shortly and would appreciate any information on how pull a david and goliath against BankUnited.

    • hogwash says:

      1 vent- as a Christian I Do Not share the same animosity and disdain you have. I am (like others) here for education and information. Seeing that you type in all caps, which is internet yelling, I kindly ask that you please refrain from yelling and have a little more control over your emotions.
      Blessings.

  3. l vent says:

    I WAS MISTAKEN WE ARE ONE HUNDRED MILLION TRILLION DOLLARS IN DEBT. THIS IS THE RESULT OF A CONSUMER BASED ECONOMY. WE NEED TO START CONSUMING A LOT LESS AND PRODUCING A LOT MORE. WE NEED TO FOR STARTERS, FIND WAYS TO STOP CONSUMING SO MUCH GASOLINE. WE NEED TO MAKE THIS CHRISTMAS ALOT MORE TRADITIONAL AND ALOT LESS CONSUMER BASED. THE TRUE MEANING OF THE HOLIDAY HAS BEEN DESTROYED BY ALL OF THE CONSUMERISM. MOST OF ALL THE GOVERNMENT NEEDS TO FORCE THE BANKS TO BACK OFF FROM STEALING OUR PROPERTY. IT IS UP TO ALL OF US TO DO OUR PART. THE GOVERNMENT AND THE BANKS EXPECT US TO REPAY THE DEBT THEY OWE WITH OUR PROPERTIES TO CHINA AND OTHERS FOR ALL OF THEIR POOR POLICIES. WE NEED TO SEND A STRONG MESSAGE TO WASHINGTON HERE, THEY MAY NOT HAVE OUR PROPERTY IN ORDER TO REPAY THIS DEBT. WE HAVE THE POWER IN OUR HANDS TO EXPOSE THE FRAUD TO OTHER AMERICANS AND BRING OUT THE TRUTH ABOUT THIS BANKRUPT NATION. WE NEED TO EXPOSE THE CORRUPTION THROUGH OUR OWN ACTIONS. WE NEED TO FIND CREATIVE WAYS TO STARVE THE BEAST AND EXPOSE ITS CORRUPTION.

  4. RAMONA says:

    I saw the writing on the wall back when bush got elected the second time..god help america I said because i knew our children were going to be out in the streets and america was bankrupt. so they are all crooks up the dems and republicans but all we can hope for is to pray teh rubublicans will do the right thing and save america because we know the democrates have turned a blind eye. none of the politicians will even speak on the matter for fear we will not elect or reelect them. but we know….

  5. hogwash says:

    1 vent-This very site is one of the best I have seen for info on the foreclosure fraud issue and I am glad it is here. It appears that there are a few out there fighting to save this Country. I have seen these pop up in other blogs and they sound interesting. these are some of the others I have seen. (just thought I would pass on some information.)

    http://www.republicoftheunitedstates.org/
    http://theunitedstatesdejuregovernment.com/
    http://www.stopthefraud2010.com/

  6. l vent says:

    @nomoreyesterdays: Nobody is suggesting that REPUBS hands are clean. THIS IS GOING TO BE THEIR CHANCE TO WORK WITH THE PRESIDENT TO DO RIGHT BY THE AMERICAN PEOPLE. THE CHANGING OF THE POLICAL LANDSCAPE IN CONGRESS IS MEANT TO SEND A POWERFUL MESSAGE THROUGH OUR VOTE.IT IS NOT MEANT TO SEND A MESSAGE TO THE REPUBS THAT WE THINK THAT THEY ARE ANY BETTER THAN THE DEMS. THE SYSTEM IS BROKEN AND THE DEMS HAVE PROVED THEY HAVE NO INTENTION OF TRYING TO FIX IT SO WE NEED TO THROW THEM OUT ON THEIR ASSES.

  7. l vent says:

    THE MAINSTREAM MEDIA IS NOT TELLING THE TRUTH ABOUT FORECLOSUREGATE BECA– USE THEY KNOW THE TRUTH BEHIND FORECLOSUREGATE WILL CA– USE THE COLLAPSE OF OUR ENTIRE BANKRUPT BROKEN FINANCIAL SYSTEM. THEY ARE TRYING TO SCARE PEOPLE WITH THESE TERRORIST THREATS TO DISTRACT THE AMERICAN PEOPLE FROM GETTING TO THE TRUTH. TELL EVERYONE YOU KNOW TO CHECK THEIR CREDIT RATING IF THEY HAVE BEEN PAYING THEIR MORTGAGE ON TIME AND TELL THEM TO WATCH MICHAEL MOORES MOVIE CAPITALISM A LOVE STORY OR TO READ ROBERT SHEARS BOOK THE GREAT STICKUP OF AMERICA IN PAPERBACK IN BOOK STORES NOW. WE NEED TO DO THIS WORK OURSELVES. THE UNITED STATES OF AMERICA IS BANKRUPT AND WE NEED TO SPREAD THE WORD TO EVERYONE THAT WE KNOW. WE ARE AS A NATION BY SOME ECONOMIC AND FINANCIAL EXPERTS ESTIMATIONS $100 TRILLION DOLLARS IN DEBT BECA– USE OF CORPORATE AMERICAS RUNAWAY TRAIN. THE GOVERNMENT IS TRYING TO COVER THIS UP TO SAVE THEIR ASSES AS WELL. THE MAINSTREAM PRESS IS TRYING TO COVER UP THE TRUTH AS WELL.

  8. l vent says:

    IT IS TIME FOR THE AMERICAN PEOPLE TO BEGIN TO STARVE THE BEAST. DEFEND YOUR FORECLOSURE, DO NOT SEND YOUR LENDER ANY MORE MONEY, THE BANKS ARE BANKRUPT. THEY ARE ONLY TRYING TO STEAL ALL THE MONEY THEY CAN FROM YOU BECA– USE THEY KNOW THEY ARE GOING DOWN AND WE HAVE TO HELP BRING THEM DOWN. TELL PEOPLE WHO ARE PAYING THEIR MORTGAGES ON TIME TO CHECK THEIR CREDIT, I HAVE PERSONAL KNOWLEDGE THAT THE BANKS ARE STEALING THEIR MONEY TOO AND THROWING THEM INTO DEFAULT WITHOUT THEIR KNOWLEDGE. DO NOT BUY FOREIGN GOODS, SHOP MOM AND POP SHOPS FOR YOUR GROCERIES, TAKE YOUR MONEY OUT OF THE BIG BANKS AND STOCK MARKET. THE STOCK MARKET IS RIGGED. INVEST AND SPEND YOUR MONEY WHERE YOU SEE FIT. PROTEST YOUR TAX BILL AND GO VOTE OUT THE SCUMS WHO CA– USED THE DESTRUCTION OF AMERICA AND ARE TRYING TO TURN US ALL INTO PEASANT SLAVE WORKERS TO PAY BACK THE $100 TRILLION DOLLAR DEBT THAT THEY CREATED, IT IS NOT THE AMERICAN PEOPLES DEBT IT IS CORPORATE AMERICAS DEBT.

  9. housemanrob says:

    In the end, it will be the people who will make the difference,not the POLITICIONS, in the winning of this WAR.

  10. l vent says:

    Some financial experts estimate the U.S. is 100 TRILLION DOLLARS IN DEBT. Our GDP cannot come close to fixing this debt. We are a BANKRUPT NATION. Because our politicians have caused us to become a consumer based economy with their poor policies driven by th e BANKSTERS AND Corporate America. STEALING OUR HOMES, TAXING AND SPENDING US TO DEATH IS NOT GOING TO SOLVE OUR PROBLEMS, IT IS UP TO US, THE AMERICAN PEOPLE TO CREATE A NEW SUSTAINABLE ECONOMY BY PRODUCING OUR OWN GOODS AND SERVICES AND BUYING OUR OWN GOODS AND SERVICES. Creating our own banking system. INSTEAD OF PASSING THE FAKE STIMULUS MONEY ON TO SMALL BUSINESSES AND ENTREPANEURS IN AMERICA THE FAKE MONEY WAS KEPT IN HO– USE TO TRY AND PATCH UP AN ALREADY BUSTED BROKEN BANKRUPT BANKING SYSTEM. TO MANY HOLES IN THAT PIRATE SHIP!!! MAYBE IF THEY WOULD HAVE PASSED THE FAKE MONEY ON TO US WE WOULD HAVE HAD A CHANCE TO PROVE WE COULD SALVAGE OUR BANKRUPT NATION. IF FRAUDCLOSUREGATE STOPS AND THE GOVERNMENT STOPS LETTING THE BANKSTERS STEAL OUR HOMES TO PAY THIS DEBT OF THEIR OWN CREATION , WE WILL SURELY BE TAXED OUT OF OUR PROPERTY. THE DEBT IS OUT OF CONTROL. THE GOVERNMNET CANNOT CONTINUE TO TAX AND SPEND. IT IS TIME FOR THE TRUTH TO COME OUT ABOUT THE GREATEST PONZI SCHEME IN AMERICAN HISTORY THAT IS CAUSING THE STRUCTURE OF THIS NATION TO DISINIGRATE. THE AMERICAN PEOPLE NEED TO TAKE CONTROL OF OUR COUNTRY AGAIN AND BEGIN TO REBUILD. THE WAY THE GOVERNMNET CAN HELP?????? THEY CAN BEGIN BY FORCING THE BIG BANKS AND WALL STREET TO PAY BACK ALL OF THE MONEY THEY STOLE FROM THE AMERICAN PEOPLE, STOP FRAUDCLOSURES AND LET THE GOVERNMENT GO BACK TO DOING THE JOB THEY ARE THERE TO DO WHICH IS GOVERN. NOT RULE THE PEOPLE, DICATATE TO THE PEOPLE AND TREAT US ALL LIKE WE ARE MERE PEASANTS. WE NEED TO SEND A STRONG AND CLEAR MESSAGE TO THE GOVERNMENT BEFORE IT IS TO LATE, TAKE YOUR MONEY OUT OF THE BIG BANKS, TAKE YOUR 401 Ks BACK FROM THE GREEDY WALL STREET THIEVES. WE WILL REINVEST IN AMERICA WHERE WE SEE FIT NOT WHERE THE GOVERNMENT SEES FIT.THE GOVERNMENT HAS ALLOWED THE BANKS AND CORPORATE AMERICA TO BANKRUPT THIS NATION WE ARE 100 TRILLION DOLLARS IN DEBT. DO WE WANT TO BECOME A NATION OF PEOPLE WHO ARE DEBTOR SLAVE BECA– USE THIS GOVERNMNET ALLOWED THE BANKS AND CORPORATE AMERICA TO BECOME A RUN AWAY TRAIN AND RUN AWAY WITH THE WEALTH OF THIS ONCE PROSPEROUS NATION?????? WE NEED TO RETAKE OUR COUNTRY BACK STARTING TODAY. TOMORROW, GO VOTE THE CRIMINALS OUT. WE NEED TO BEGIN TO SAVE OUR CHILDRENS AND THEIR CHILDRENS FUTURES, NOW.

  11. DebbiCat says:

    There are 500+ Congress members – there are 300milllion + Americans. If the government won’t put a stop to this (and they won’t) we can. Start a Moratorium on Mortgage Payments! Imagine if EVERYONE who has a mortgage payment STOPPED paying! That would bring all the Too Big To Fail Banks to their knees, Power to the American People!

  12. hogwash says:

    I’m confused- I do not recall my lender ever disclosing to me that they were going to “securitize” my promissory note by bundling it with other notes. I also do not recall them telling me that my signature is what monetized that “negotiable instrument” -as a matter of fact they never told me that it was a negotiable instrument and would be sold several times to domestic and foreign investors. btw-did they loan me money or credit? Is it possible that my signature created it and they loaned me my own credit with interest? Isn’t “true consideration” and “full disclosure” 2 major factors in a legal contract? I thought banks by federal law could not loan credit and are also not allowed to loan theirs or their depositors money(?) Also- I am still having a hard time finding the banks/lenders signature on any of my paperwork- the only signature I see is allegedly mine which looks like a unilateral contract to me(?) Plus- I am still waiting to see the “Original Note” with my wet ink signature and I am told that all they have is a certified true copy of it. So who is the real party in interest or holder in due course?
    Can someone tell me if any of that is considered fraud, collusion, studied concealment, misrepresentation and counterfeit?
    anyway- just asking.

  13. Kathi Yevtich says:

    Kinda funny..I thought just the opposite…seems to me the GOP has more Wall Street connections…and the ‘elephant in the room’ has been purposely ignored and hidden behind a big shield…much like MERS and the Members who created it…sure didn’t hear much about any of this during the debates I watched and read about…from any politician..sad to say…

  14. l vent says:

    see you tube videos under titles of financial crisis 2010.

  15. l vent says:

    EVERYONE SHOULD SEE THE MOVE CAPITALISM A LOVE STORY AND GO READ THE BOOK ENTITLED THE GREAT STICK-UP OF AMERICA BY ROBERT SHEAR. WE ALSO NEED TO READ THE ARTICLE AT PROPUBLICA.ORG ENTITLED: THE NEW DEMOCRATS: THE COALITION PAHRMA AND WALL STREET LOVE. THE ROBBERY OF OUR HOMES BY THESE CROOKS NEEDS TO BE STOPPED. NO MORE FRAUDCLOSURE TO PAY BACK FOR THE BANKSTERS OVER SPECULATED UN-REGULATED OVERLEVERAGED DEBT.THEY HAVE BEEN ALLOWED BY THIS GOVERNMENT TO BANKRUPT OUR NATION. DEMAND A NATIONWIDE MORATORIUM BY OUR PRESIDENT OR STATE GOVERNORS. DEMAND YOUR STATE LEGISLATURE AND CONGRESS PASSES THIS LEGISLATION. WE NEED TO SCREAM AT THESE PEOPLE, THIS HAS TO BE STOPPED!!!!!!!!!

  16. l vent says:

    THE REPUBS HELPED DEREGULATE THE BANKS, BUT, THE DEMS AGENDA IS EVEN MORE SEEDY AND DECEPTIVE. WE NEED TO LET WASHINGTO KNOW NOW AS WELL AS OUR STATE GOVERNMENT OFFICIALS THAT THEY BETTER START WORKING FOR THE PEOPLE OR WE WILL DO WHATEVER IT TAKES AS A NATION TO TAKE OUR COUNTRY BACK. THEY CAN START BY PLACING A NATIONWIDE MORATORIUM ON ALL FORECLOSURES. THE FORECLOSURE MADNESS NEEDS TO STOP NOW. THEY ROBBERY OR THE AMERICAN PEOPLE NEEDS TO STOP NOW!!!!!!!!

  17. acmodspecialists says:

    After reading this article an many others on pro-publica I got to only one conclusion, Banksters need to be a essentially and substantially more REGULATED. i believe what this country needs to do with these Banksters, so this mess does not happens ever again is to REGULATE THEM, REGULATE THEM , REGULATE THEM !
    Yes REGULATE every single transaction, Foreclosure, DCO’s, Derivable s, Credit Cards, Bail out ‘s etc REGULATION is the key, if these Banksters are REGULATED they can not extract and suck the money and the wealth from this country, the middle class and they will not be able to be trowing whole families in the street with their FRAUDCLOSURES as they have been doing it for so long REGULATION ! REGULATION ! INTENSE REGULATION ! AND MORE REGULATION, REGULATE THEM TO THE TEETH
    And finally, BREAK the Banksters yes that is right Break them in to pieces so none of them are worth more that a few Billions and this way you will create more competition and they will never ever be TO BIG TO FAIL ever again
    REGULATE THEM AND BREAK THEM !!

  18. no_more_yesterdays says:

    republican lawmakers will NOT generate anti bank laws to protect the millions of Americans victimized by the banking industry fraud.

    just look up the voting records of republican and democrats and you’ll know for a fact.

    find out for yourself.

    i did.

    and i’ll vote accordingly.

  19. l vent says:

    OBAMA RAN FOR PRESIDENT CLAIMING TO BE A CENTRIST. HE LIED. GO READ THE ARTICLE ENTITLED “THE NEW DEMOCRATS: THE COALITION PHARMA AND WALL STREET LOVE’ AT PROPUBLICA .ORG OR http;//www.propublica.org/article/new-democrat-coalition OBAMA IS A PUPPET FOR THE DEMS WHO HAVE BEEN LOBBIED HARD BY THE PHARMA COMP. AND INS COMPANIES, LARGE BANKS AND BIG TICKET TRADE GROUPS. THERE IS A COALITION INSIDE THE DEM PARTY WHO HAVE BEEN BOUGHT BY THESE LOBBYISTS AND OBAMA IS FURTHURING THIS AGENDA RE; HEALTHCARE. GOOGLE NEW DEMOCRAT COALITION, BLUE DOG DEMOCRAT COALITION AND NEW DEMOCRAT MOVEMENT,THEN GO TO WIKIPEDIA TO FIND OUT WHO THESE PEOPLE ARE WHO ARE TRYING TO DESTROY THIS COUNTRY.THEN GO VOTE THEM OUT!!!!!!

  20. l vent says:

    OBAMA IS A PUPPET FOR THE DEMS AGENDA. CUT THE STRINGS. GO VOTE THE DEMS OUT. DEMAND THAT YOUR STATE LEGISLATURE DRAFT AND PASS LEGISLATION TO ALLOW OUR STATE GOVS TO PLACE A MORITORIUM ON ALL FORECLOSURES IN YOUR STATE. DEMAND THE SAME FROM CONGRESS, SO THE PRESIDENT MAY BE ALLOWED TO PLACE A NATIONWIDE MORTATORIUM ON FORECLOSURES, WE NEED TO BE ABLE TO HAVE A CHANCE TO FIGHT FOR OUR PROPERTY.

  21. l vent says:

    DEMAND LEGISLATURE BE DRAWN UP BY YOUR STATE LEGISLATORS TO ALLOW OUR STATE GOVERNORS TO PLACE A MORATORIOUM ON ALL FORECLOSURES., OR DEMAND CONGRESS DOES THE SAME TO ALLOW OUR PRESIDENT TO PUT A NATIONWIDE MORATORIUM ON ALL FORECLOSURES. WE NEED TO LEVEL THE PLAYING FIELD TO DEFEND OUR PROPERTY RIGHTS. CONGRESS, YOUR LOCAL HO– USE OF REPS HAVE TO PASS THE LEGISLATURE TO ALLOW THIS TO BE DONE. SCREAM AT THE TOP YOUR LUNGS. DEMAND THIS.

    • usjustice4all says:

      Did you not hear, they did write up a memorandum and passed it, luckily Obama tossed it back but it was to make all notaries no matter what the current States requirements are, to be accepted in any state, in other words, they wanted to validate all the fraud and make it ok. Case closed for them

  22. l vent says:

    TARP WAS A GHOST BAILOUT THAT NEVER EXISTED. THERE WAS NEVER ANY MONEY TO BACK THAT UP. YOU CANNOT PRINT MONEY OUT OF THIN AIR. NOW THE POWERS THAT BE ARE AFTER THE NEXT VICTIMS, THE UPPER MIDDLE CLASS BECA– USE THEY HAVE ALREADY CLEANED OUT ALOT OF US MIDDLE INCOME AND LOWER INCOME PEOPLE, NOW THEY ARE HAVING A HARD TIME STEALING HOMES THAT THEY DONT OWN BECA– USE THE PEOPLE ARE ON TO THEIR SCHEME. THEY ARE BECOMING DESPARATE TO COVER THEIR SCHEME AND ARE GOING AFTER THE NEXT INCOME LEVEL OF VICTIMS, THE INCOME CLASS ABOVE US. DEFEND YOUR FORECLOSURE, THE GOVERNMENT IS BROKE.GO VOTE ON TUESDAY.

  23. l vent says:

    LETS VOTE OUT THE SCUMMY POLITICIANS THAT HELPED THE POWERS THAT BE COMMIT THE BIGGEST PONZI SCHEME IN AMERICAN HISTORY. THE CONGRESS WONT PASS LEGISLATURE TO ALLOW OBAMA TO PUT A MORITORIUM ON ALL FORECLOSURES. YOUR STATES ELECTED CONGRESSMAN WILL NOT PASS LEGISLATURE TO ALLOW YOUR GOVERNORS TO MORITORIUM STATE FORECLOSURES. VOTE THE DEMS OUT. DEFEND YOUR FORECLOSURE.

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