Karl Rove on Robo-signing, Fraudclosures and a Bank Settlement, “Justice and the state attorneys general are demanding $20 billion for sloppiness”

But Justice and the state attorneys general are demanding $20 billion for sloppiness, which they will then be able to hand out to voters—and potential supporters. The money won’t come from the banks; it will come from their customers, millions of whom will pay more in fees and interest and will, in some cases, be denied credit.

This stinks. It’s not only corrupt, it’s bad policy.

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I’m a little confused on his agenda here since in one sentence he says it is sloppiness but then goes on to say “The proposed settlement is a money grab in search of a crime. A fairer way to punish banks would be to have them generously compensate the handful of people wrongly evicted because of a “robo-signing” abuse, after providing them with an expedited way to have their claims heard. And, of course, to return their homes.”

But this whole ponzi scheme is a crime. Even if you just broke it down to the robo-signing we have hundreds of thousands ADMITTED felonies.

So I say yes, Karl, let’s compenstate the hundreds of thousands of people wrongly evicted because of a “robo-signing” abuse, and of course, to return their homes.”

That should add up to well over $20 billion, right Karl?

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The administration wants a $20 billion slush fund to ‘help’ homeowners.

At last Wednesday’s “CBS Town Hall,” President Obama said he was “trying to . . . figure out how we can get the banks to do more” on modifying mortgage loan payments. Perhaps, he said, people whose mortgages are underwater should get a “principal reduction, which will be good for the person who owns . . . the home.”

Mr. Obama has decided that taxpayers have no appetite for bailing out homeowners who don’t make their payments, or for rescuing those whose homes are worth less than their mortgages. Instead, he’s backing a proposal by his Department of Justice and state attorneys general to force major banks to cough up the dough.

The money would come from a settlement with JP Morgan Chase, Citibank, Bank of America, Wells Fargo and other banks accused of “robo-signing,” in which foreclosure documents were signed by bank employees or agents without properly certifying all the papers. The attorneys general admit that virtually no one was erroneously foreclosed upon because of robo-signing. The banks foreclosed on people who were on average 18 months delinquent, and after multiple attempts to modify the loan had been tried and failed.

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4closureFraud.org

Comments
23 Responses to “Karl Rove on Robo-signing, Fraudclosures and a Bank Settlement, “Justice and the state attorneys general are demanding $20 billion for sloppiness””
  1. talktotennessee says:

    Like vultures to roadkill, everyone is ready to piece out the remains.
    The problem with Karl and AGs and others picking through the pieces, is that they all want to profit from the banks fraud but hold the line on homeowners. THE HOMEOWNERS defaulted. They deserve their fate because they defaulted on that ARM or interest only predatory loan that lost them their house. Their neighbor’s house lost value too, so what. Everyone sees a chance to make a killing. Payoff investors, gain forgiveness and a slap on the hand penalty and lets move on.
    Hang the homeowner. He should have known better and he is wrong to default regardless of whether we set him up! That is what is being touted as truth and reality.
    Even Obama is reluctant to do anything due to the moral hazard charges that will arise in his re-election campaign. Expect nothing from the White House. The only reason to support a Democrat in any office is because it is better than the GOP and the Karl Roves who are ready to GIVE everything to the banks and Wall Street in exchange for a little green.
    Where is Ralph Nadar when you need him?

  2. JamesForeclosure says:

    Are we not talking 850Billion here? Shit, Obama could have taken 4million dollars and bailed out every homeowner that has been foreclosed and DEFRAUDED by the UNITED BANKS of AMERIKA!

    THERE! PROBLEM SOLVED!!!!

    • l vent says:

      WOO HOO!!! That would have been brilliant!!. This economy would have been a boom town. There would have been small business start ups all over America instead of homeless, impoverished Americans.BUT, WE WERE SUPPOSED TO HAVE BEEN THE DEADBEATS WHO SPENT TOO MUCH AND BOUGHT SHIT LIKE HO– USES THATWE COULDNT AFFORD!!!! HA!!!! NONE OF US HAD ANY PROBLEMS PAYING OUR BILLS UNTILL THE MASTERMINDS DECIDED THEY WANTED TO CASH OUT OF THAT END OF THE PONZI SCHEME. Then, CONGRESS AND THE FEDERAL RESERVE — USED THE AMERICAN PEOPLE TO BAIL OUT THE VERY CROOKS WHO ROBBED US. THAT ALSO CREATED A TON MORE OF UNSUSTAINABLE DEBT FOR THE AMERICAN PEOPLE.. Now the U.S. Government has to go back and try and take back what was stolen 3 years ago in the INTENTIONAL FINANCIAL COLLAPSE and in the bailouts. They did all of this half-assed backwards of course. The Too Big To Fail came first, now they are finally figuring out, without all of us peasants down here on Mainstreet, this economy is running on empty. All because a few hundred elite assholes want to own and control the world. They are WAY TO BIG AND MUST FAIL. THEY ARE AN OLIGARCHY and there is nothing DEMOCRATIC OR AMERICAN ABOUT THIS ENORMOUS PONZI SCHMEME MONEY AND LAND GRAB BY THE HIDDEN FOREIGN INTEREST WHO HAS HIJACKED AMERICA BY CREATING MASSIVE DEBT..THEY HAVE ALL CANCELLED THEMSELVES OUT WITH THE HORRIBLE ECONOMIC CONDITIONS THEY HAVE CREATED. THEY NEED TO BE FORCED TO PAY FOR THIS AND BROKEN UP.

  3. JamesForeclosure says:

    “Mr. Obama has decided that taxpayers have no appetite for bailing out homeowners who don’t make their payments, or for rescuing those whose homes are worth less than their mortgages. ”

    WTF?

    But taxpayers DO have an appetite for bailing out banks? I’m sorry everyone, this guy that you voted in FOR CHANGE still has his head in the sand!!!!

  4. Robin Garza says:

    Well they have taken 2 of my homes and I think something has to be done I kept up on my payments and also later alsop found out HomEq was in a program caled Hamp and they charged me twice $1.500.00 only to raise my loan amount instead of lowering it I don’t know how these people sleep at night but I know God has taken care of me !!!!!! But I also think someone needs to step in and freeze these Mortgage places this Robo and then sellin out under different names only because they knew they were busted and then are still the same company !!!!!! But u can believe this I do have the word out not to go thru abank or Mortgage place of any kind to get ur dream Because they will just take it from you!!!!!! Saddd and they get away with it !!!!!!!

  5. Vale says:

    Karl Rove ? What and who is he going to influence? If Obama gave a damn about people losing their homes to the corrupt banks that he and his clowns have bailed out over and over he would have BAILED OUT EVERY homeowner and charged these banks and their CEO’s with FRAUD! This is all BS from the corrupt Dems and Reps.

    • Tim Bryant says:

      When I think of honest guys, I definitely think of Karl Rove first. The same guy who exposed a CIA agent and jeopardized their life for political gain. He then sent Scooter Libby up the river without a paddle for the episode. He is a piece of garbage, and an opportunist.

      • talktotennessee says:

        Karl Rove is a brilliant strategist for the Republican party. His efforts put Bush in the White House as a figurehead. He and Cheney ran the show behind the scenes. He has been at work designing strategy to retake control of the White House in 2012. Expect to hear a theme that all the players will eventually adopt. It was Rove’s design that incorporated the religious right to support Bush. Preached from every pulpit and taken door to door to persuade the religious right to support a party bent on corporate capitalism control. Even now the GOP candidates play to the hot button issues. Even Ron Paul trotted out his “preservation of life” speech. Rick Perry held a ‘prayer meeting’ for his coming out party. Expect more of the same. People forget and in their efforts to get rid of their problems, they throw out the baby with the bathwater and take on something worse. If a man is a Christian and believes in preservation of life, he has to be okay, right?
        Giving control to the GOP is the anathema to recovery. Destruction of Social Security and Medicare will throw this country into chaos and abject poverty for decades just as the aged population increases. Frankly, we are looking at far worse consequences.

  6. OMG….I wish that word ” modify ” would be stuck up someones rear end. LOL…Just how do you modify fraud? Just how do you modify a loan when the person or bank sitting there in front of you does not own the note….and doesn’t even know where or who has it? The Florida Supreme Court awhile back said the foreclosures had to go to mediation …..give me a break…so what does a homeowner say at mediation..first show me the original note? How can a principal balance be reduced when they can’t even prove they own shit. In mediation do you show all the frauds? What else is there to say?……I can’t believe a Supreme Court is that frig’en stupid to even suggest a mediation to modify. And try Florida’s court when a judge say’s he doesn’t want to hear about any frauds…that he has listened to the ‘ story ‘ to many times….and than rubber stamps the papers aand winks at the mills lawyer. BUT now we in Florida know the courts and the Florida Bar are all in on the scam to swindle the people….Bankers Assoc. has been doing their visiting around the state…….

  7. THIS IS NOTHING BUT A BRIBE PAY-OUT……THIS ROBO-SIGNING WAS FAR FROM THE ONLY FRAUD DONE IN MOST MORTGAGE FORECLOSURES. AND STOP SAYING IT WAS SLOPPY WORK..THEY, THE BANK, KNEW WHAT THEY WERE PULLING…MORE FRAUD..BUT AGAIN… GOT CAUGHT…SO NOW IT IS NOT FRAUD???…LOL…OH PLEEEZE..SPARE ME WITH NO MORE LIES….THE FRAUD WAS STARTED AND DONE AT THE CLOSING…..THE FRAUD’S WERE DONE BEFORE ANY PAYMENTS WERE STOPPED…PAYMENTS WERE STOPPED FOR MANY MANY DIFFERENT REASONS….NOT FOR JUST THE LACK OF MONEY TO PAY THEM…GET OFF THAT HIGH HORSE…IF THE SERVERS WOULD NOT TELL THE HOMEOWNERS WHO OWNED THE NOTE…THEN WHY PAY A STRANGER THE PAYMENT….THIS LED BACK TO THE CLOSING PAPERS….MAGIC…MORTGAGE RECORDED IN THE BANKS NAME…BUT THE BANK DID NOT GET RECORDED MORTGAGE…THE TITLE CO. SENT IT TO THE INVESTOR(S)…THE FUNDER OF THE MORTGAGE…THE BANK DID NOT INVEST ONE CENT IN FUNDING….THE BANK..A STRAWMAN, GETTING PAID A FEE. SO WHO HAS THE RIGHT TO FORECLOSE….THE INVESTOR(S) NOT THE PRETENDER LENDER….AND WHO FILED THE FORECLOSURE…THE BANK. LYING BASTARDS…AND SO FAR…THEY HAVE TAKEN 18 MONTHS AND HAVE NOT COME UP WITH AN ORIGINAL NOTE. SO LET’S NOT — USE THE LACK OF PAYMENTS AS THE REASON TO FORECLOSE… THIS IS JUST ANOTHER FRAUD SCAM PRETENDING THEY ARE THE OWNERS…..SEE YOU IN COURT BASTARDS…..ALL THAT i HAVE SAID IS WHAT THE TITLE CO.. AND THE BANK HID FROM THE HOMEOWNERS AT THE CLOSING……..TO ADD INSULT…WE FOUND MY DAUGHTERS MORTGAGE WAS SOLD BEFORE THE CLOSING AND MONEY WAS WIRED TO THE TITLE CO. SO FIGHT THE GOOD FIGHT……KEEP DIGGING…..

  8. John says:

    Now there is a book and a movie out about this ponzi scheme. They actually called it that on TV last night.
    After last night, there are many more that are aware of how they have been taken advantage of.
    Its interesting to see where all this will ultimately lead and end.
    What a help this movie will be to those suing when they get a jury and actually go to court.
    I’m so thankful for all of you that have been in the forefront and saying over and over exactly what was said last night.
    Folks are sure to be listening to you now.
    Hope the book and movie mentions this site!

    • JOHN….Make it a point to read these comments everyday…knowledge is the way to go and here you will get plenty of that. Also…go on the court docket in your county everyday…there you will find what has been filed in court….watch it so you are prepared….and copies of each filed item can be copied at the court bldg…for your records. Some courts charge for the copies. You can also use the Law Library in your county to gain what knowledge you need.

    • talktotennessee says:

      What is the name of the movie and book? The movie “Company Men” touches on some of the issues and the Dateline special Sunday about Millen, GA mentioned it. Krystal the subject of the documentary, or one of them, was told to default on her mortgage payment for three monhs so she could qualify for a government modification. She qualified and received a significant reduction in payments although she and her husband lost their income. What is unfair is the bank’s manipulation of this situation and the selection of those who get attention. Others lose their houses without help.

      I don’t expect a free house because of someone’s fraud or deception but I do expect fairness when trying to modify or reduce principal to what the bank would recover if they liquidated the REO. The banks pay agents to sell for less recovery than they allow the homeowner. Where is the fairness in situations like this? The fact is they are recovering from investors the costs of handling the foreclosure and REO sale. Recovery sales go in their slush pot to keep investors satisfied. It pays the banks to foreclose not modify!
      The banks are guilty of moral hazard in their actions!

  9. Stupendous Man - Defender of Liberty - Foe of Tyranny says:

    Who cares what rove says, or thinks?

    I don’t.

    He is less important in my life than lint.

  10. Virginia says:

    Every time I hear someone say (including the judges), “did you pay” and knowing that most people tried to pay and were told not to in order to qualify for a modification…I want to jump up and say –

    If you knew or suspected you were participating in a Ponzi scheme, would you continue to participate? Or would you call an attorney, the FBI and/or the DOJ? And if you did continue to participate would you be aiding and abetting an illegal activity?

    Because we KNOW now it was a Ponzi scheme – so does Congress – so what’s that matter with you?! Are you out of medication or what?

  11. fighting mad, mad as hell says:

    John is absolutely right, and all the sheep denying this truth deserve what they will surely get! <br />To those who believe that rove is right I ask you: <br />Do you truly know who owns your mortgage?<br />Do you know who your real service company is?<br />Do you believe that because you’ve been on time with your payments so far, that you are immune to being foreclosed on with fake documents?<br />If you have had any kind of mortgage you are in danger of being foreclosed on! <br />Why?<br />Because the fraud against you began the moment you signed for the mortgage.<br />ALL mortgages are frauds, created with the full intent to eventually relieve you of your home. <br />No One, outside of the mortgage specialist themselves, fully understands a mortgage. You might think you know, but unless you are specially trained in mortgages, You Don’t Know! <br />If you truly believe that the banks are being robbed by deadbeats, then you need to do a hell of a lot more research. As a former mortgage broker, I can honestly tell you, our only purpose in life was to put the borrower in a position to lose that house just so we can sell it again and again at enormous gain for us. The game was rigged from the start and nobody stood a chance! I’ve been in real estate since 1985 and I will tell you, what went on then and what has happened in the last 15 years is as different as night and day. One was honest, regulated and highly functional. The last 15 years was created to defraud, rooted in lies and deceptions and calculated to get the most benefit for the agents at the expense of the clients, otherwise known as “suckers”. There were/are so many scams and schemes going on that to name them all would take hours. It was commonly known as “Creative Financing”<br />And you all fell for it, hook, line, and sinker.<br />How about the mortgage service people that have orders to destroy any checks or payments coming in, or to hold a payment until after it’s late and charge the late fee? Or being told to destroy the original promissory note by the thousands?<br />How does your making your payment on time protect you now from being foreclosed on?<br />I don’t know we bother to try to education the willingly ignorant. You’re gonna believe what the “experts” tell you anyway.<br />

    • Thanks Fighting Mad…..You said it right……I have done plenty of research going way back….and my notes are almost the exact words you are trying to get people to understand. I am not in foreclosure…I never had a mortgage on my home, but over the years we had mortgages and they were never done as what has come to light now. My daughter is in foreclosure but we found fraud early on when she called the servicer to get info on the owner of the note and was told she could not have that info. She did not sign the Note..but both signed the mortgage..since divorce in 2006 and the house was given to her…by quit claim…but the mortgage stayed as is…with him on the note. And he has avoid everything from the bank..threw it out. So when they refused to tell the owner…she told them she would not pay someone who did not own the note. Foreclosure came and so far…18 months later ..stiill no note…..Title Co. was in on the scam….. So she is in the fight or battle to prove what was done at the closing….the loan was sold before the closing. It takes alot of time, many hours to research and follow the scam…but it may pay off in the long run.

  12. Dan says:

    Ok, How about auditing them and see how they operate, correct the deficiencies and lock it in to where they cant raise any fees or add additional cost for the next 30yrs (this should be long enough to bail out the current victims). If they do then fine them with big monetary penalties? This needs to come directly from their pockets! these people are preying on Americans and they should be the ones out on the streets not us. Not everybody are non paying pukes, believe it or not some are actually victims and if they would chase the paper trail down and actually look at it with their blind melons they would see that all these forged documents were mass produced to consistently discourage homeowners in an attempt to finally wear down the people that were down on their luck. If the President cant see this he needs to cancel one of his 10 million dollar vacations and spend a day with a homeless guy under a bridge so he can actually grasp it.

    • He don’t give a shit about the people….where the hell has he been lately? He is more into the NWO….and when and where his next vacation will be. What a waste……….

  13. Readdocs says:

    Oh good grief….why didn’t he just keep his mouth shut?
    The whole crime scene is being swept under the rug! This about how from the very concept of each contract the intent was to defraud. No one is going to jail for stealing, perjury (lying), forgery or any of the other laws being
    constantly broken.
    What needs to be done, to get the idea of prosecuting the intent to defraud by those who are daily doing just this.

  14. l vent says:

    Lying shitbags, all of them. These homes are paid for because of the Ponzi Scheme. Fannie, Freddie, the banksters made hundreds of trillions of dollars off of their massive and pernicious mortgage fraud and used the American people and their homes as collateral for the BIGGEST PONZI SCHEME SWINDLE AND HEIST IN HISTORY. The proof is in the Origination Fraud and the title. Fraud in the contract, kills the contract. MERS bifurcated the mortgage and the note. One hundred and thirty-eight years ago, the U.S. Supreme Court recognized that the mortgage instrument is inseparable from the promissory note Carpenter v. Longan 16 Wall 271, 83 U.S. 271, 21 L.Ed. 313 (1872). That was necessary to ensure that title to property could be deraigned. Therefore, by MERS bifurcating the mortgage instrument to MERS, MERS renders a foreclosure impossible as the promissory note is no longer secured to that mortgage instrument. The GSE’s Fannie and Freddie need to WALK AWAY. They not only originated the entire Ponzi Scheme and posed as different entities throughout the entire Ponzi Scheme, they went even further to hide all of their fraud by not publicly recording transactions properly to hide all of their mortgage fraud and using MERS, they destroyed title to millions of homes.

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