Foreclosuregate – An Open Letter to President Obama (AGAIN)

Since none of the requests were ever addressed from this letter that was sent and posted a year ago, I thought we would do it again.


Dear President Obama,

I’m a centrist Democrat; many I work with are Democrats, but plenty are Republicans.  Most of us are in our 30′s and 40′s, but plenty of us are older and plenty younger.  Many of us are college graduates, but some have no degrees.  Some are wealthy; many are poor.  Some are decorated veterans and some never served in the military.

We work together for a common cause.  On its face we are working to stop foreclosures but our genuine mission is deeper: we see the very fabric of our country being ripped apart and are working to protect it.

We have watched rocket dockets where lying lawyers use forged documents to argue to crooked and corrupt judges, who openly admit to having pre-judged cases.  We regularly watch reckless, irresponsible, dishonest bankers who have benefited from $13 trillion in direct and indirect subsidies label their victims — people they lent money to knowing the borrowers did not understand the terms and could never repay — demean their victims while ignoring or even denying their own massive bailout.

The bailed-out bankers are relentless in their self-righteous sense of entitlement and disregard for the law.  They even attacked and tried to censor the key deposition that exposed the rot from this very website; this site that has done more than your entire federal government to expose fraud, corruption, and criminal behavior hurting countless American men, women and children.

I have watched the children in foreclosure court cry as their parents lose their homes in 30-second rigged hearings.  I’ve watched the elderly, talked into taking loans by sub-prime thieves, loans they neither needed, wanted, nor understood, hobble out on canes and walkers after their 30-seconds into homelessness.  I have millions of computer records, and I’m aiming to add tens of millions more, that definitively show the fraud runs to the very core of our national fabric and is so pervasive it was systematically perpetrated and is systemic to the bailed-out too-big-to-fail bankers.

I just watched your 2004 Democratic address.  You reaffirmed the declaration of independence; the right of all people to life, liberty, and happiness.  You articulated your disgust when our civil rights are trampled, citing specifically the right to due process.  You articulated that “people don’t expect government to solve all their problems, but they sense deep in their bones that with just a slight change in priorities we can make sure that every child in America has a decent shot at life.”  You elicited your disgust when government sits idly by, ignoring deep problems.

More than that you affirmed that we’re on America, not Republicans, not Democrats, but Americans.  You ran on a platform of hope, a promise of change.  President Obama, you’ve failed us.  You’ve failed the American public, the history of our country, and even the future of your own children.  You’ve allowed crooked, dishonest, bankers, and their crooked, dishonest attorneys, and their crooked, dishonest lobbyists to take over the government and put into place the worst reverse Robin Hood policy seen since the great depression.  Bush started it, but you allowed it continue.

Hope.  Change.  The time is now.

We call on you to take the immediate steps:

* Devote no less than 5,000 federal agents to investigate the banking and foreclosure mess.  Agree to arrest any banker that lied to their borrowers or investors, arrest any lawyer who conspired to violate the laws of our country, arrest any public official — including state judges and federal regulators — who trampled our civil rights or ignored their responsibilities.

* Make it clear to the bankers that they have blown it and do not give them one more cent.  Tell Congress that any bill authorizing any more bailout money will be vetoed.  Leave no ambiguity that there will not be a bailout for fraud in any way, shape, or form.

* Dissolve Fannie Mae and Freddie Mac; replace the Board of Directors at AIG and GMAC, and mandate the new Board fire every manager at the director level or above.

* Fire Tim Geither.  Do not let him resign; publicly terminate him for incompetence.

* Declare that any bank that does not agree to immediately and unconditionally cease all foreclosures must pay the the Federal Reserve the highest interest rate they have charged any borrower of any subsidiary.

* Invite us to the table to discuss these issues like you’ve repeatedly invited the bankers that caused this mess.

A reckless Republican Congress sent de-regulatory banking legislation to a reckless Democratic President who signed it.  A corrupt and incompetent Republican Treasury Secretary and President created legislation passed by a strong-armed corrupt and incompetent Democratic Congress.  Using your own words this is not a blue state problem, this is not a red state problem, this is an American problem.It is long passed time that you step up to the plate and bring some of that hope and change that you promised, and that we Americans, of all political persuasions, of all ages, of all races, of all backgrounds, desperately need.

President Obama, we need back the guy that we voted for to lead us out of this mess.

Michael Olenick
olenick – at –


12 Responses to “Foreclosuregate – An Open Letter to President Obama (AGAIN)”
  1. housemanrob says:


  2. Jen/Realtor says:

    As a Realtor watching all these home owners illegally thrown out on the streets for the past 4 years, while the banksters and servicing companies lied to these home owners saying “Oh yea your good just keep sending in this $ amount per month and your going to be fine, long enough to collect from these home owners as much in pocket then pull the rug from under them and foreclose, while the courts allow this is a shock to what I once knew… These poor people /families /kids /animals thrown out of their home and lied to by these bastards!
    Their have been families who killed their entire family thinking their was no other way out, their were people who hung themselves or put the gun against their head and pulled the trigger!! THIS IS MURDER ON THE BANKSTERS AND ALL INVOLVED. They made these people feel worthless, as i said these BAstards.

  3. Ron Moss says:

    Legal fees will avail me to my former house value plus damages

  4. Readdocs says:

    You can take it to the bank that Obama has not read this letter either time it
    was published, nor was it read to him. Chances are great that he doesn’t
    know this letter exists. And if you are pointing out the wrongness of his path,
    you can take it to the bank he’ll double down on what he’s already done that
    is wrong headed. Obama never retreats in his wrong doing he expands it.
    One thing that has been proven through his actions, is he does not care for the
    people who voted him as a sitting president, nor does he care about the massive
    harm he’s done to this nation. You’ll know better when the lights begin to
    go out next year.

  5. Javagold says:

    here is my open letter to Obama

    Dear Mr. President,

    Fuck You !…Not because you are black or muslim or born in Kenya or any of those other meaningless attacks …..Fuck you for lying to the people of the United States to their faces and not having the guts to fight for them…

  6. John says:

    Cutting taxes for people not making any money does not help.
    A person unemployed does not pay taxes.Offering to cut his is ridiculous.

    What must be done is old hat to those of us old enough to remember the CCC and WPA programs that pulled us out before.

    Obama is right on this point, we must start up the easiest and quickest job creator which is construction and create jobs for individuals and small companies to they all are making a profit or a good wage.
    Like any big construction project, we in construction must borrow money to get it started initially, and so must the USA, but doing so causes many that were not paying taxes or buying anything to start spending again, creating more jobs, and all paying taxes again to our government so it can pay back the loans.
    We must initially spend money to make money.

    The thinking that cutting taxes will create jobs is false.

    Rebuilding our failed infrastructure of roads and especially our dangerously decayed bridges must be done, so now is the time to do it.
    Since we must increase jobs, give a bonus to the construction companies that rebuild with old time ways using human labor instead of all modern machines.
    Many incentive plans could be put in use that would be educational especially to our young people that are used to getting things done by pressing a button, alone, inside a climate controlled building instead of strapping on a tool belt and putting on gloves in the great outdoors. The feeling of accomplishment would be great for our citizens.

    This would be good for America.

    Turn a negative into a positive!

  7. John Baurer says:

    Ok, well, the letter lost me right when pary affiliation was mentioned. What does political party have to do with this disaster? Both parties are equally illegitimate and refuse to hear the will of the governed? Sounds more like it.

    Dear President Obama,
    Your consistent unwavering support for financial criminals equals or exceeds that of your predecessor. Your administration and the politicians in DC are largely cronies that work for the benefit of a small number of Americans. Large sums of election funding was coming from Banksters in 2998 and the talk was of appointing the degenerate, Robert Rubin . Instead we get Larry Summers, and an immediate quashing of cramdown. The entire country is questioning whether there is any legitimacy left at all to a Government seized by thieves.

    Homeless American

    • Michael Olenick says:

      Keep reading. This makes clear political party doesn’t have anything to do with it. Republicans and Democrats both did this to us. It’s time for them both to take some personal responsibility and clean up this mess.

      • Bobbi Swann says:

        Nice letter, Michael, but did you REALLY expect an answer??? C’mon, he’s part of the problem – a puppet for the NWO to bring this country down. Here we are on the brink of a new election campaign and suddenly…whosh…Obama has a new jobs plan….WTF was he 2+ years ago when the national unemployment record was already double digits???

        It’s re-election time and he’s out there with his same ole BS…change. Well, we are about CHANGE too….changing who’s in charge!

    • housemanrob says:

      John……your messaging to deaf ears…..impeachment is the answer!

  8. Teri Petit says:

    Hi…I have been trying to reach Carol to no avail…We were talking about doing a follow up show for myself and Robert Stone to answer the myriad of questions out there,,,specifically in regards to securitization and defense…Is there a time you would like to have us back on again? Thanks! Teri Petit Property Rights Law Grp

  9. Mario Kenny says:

    He did not listen the first time, and he would not listen now, he does not have the foresight to see what is happening and what will happen. The only choice we have thus far is Ron Paul and he is actually excellent.

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