Matt Taibbi | Why the Foreclosure Deal May Not Be So Hot After All

Why the Foreclosure Deal May Not Be So Hot After All

So the foreclosure settlement is through.

A few weeks back, I was optimistic about it – I had been worried that it was going to contain broad liability waivers for all sorts of activities, and I was pleasantly surprised when I heard that its scope had essentially been narrowed to robosigning offenses.

However, now that the settlement is finalized, and I’ve had time to think about it and talk to people who know far more than I do about this, I’m feeling pretty queasy.

It feels an awful lot like what happened here is the nation’s criminal justice honchos collectively realized that a thorough investigation of the problem would require resources they simply do not have, or are reluctant to deploy, and decided to accept a superficially face-saving peace offer rather than fight it out.

So they settled the case in a way that reads in headlines like it’s a bite out of the banks, but in fact is barely even that. There will be little in the way of real compensation for stuggling homeowners, and there are serious issues in the area of the deal’s enforceability. In fact, about the only part of the deal we can be absolutely sure will be honored in full is the liability waiver for the robosigning offenses.

Rest here…

~

4closureFraud.org

Comments
5 Responses to “Matt Taibbi | Why the Foreclosure Deal May Not Be So Hot After All”
  1. MARGETTA LANGLOIS PRO.SE says:

    THE WHOLE SYSTEM IS “F” .

    MORE “BULLSHIT”& “FRAUD” COVER-UP BY THE COURTS ,SHERIFF’S DEPT THAAT SAY IT’S NOT A “CRIME” OR “FRAUD” W/ “NO” PAPERWORK THESE “DIRTY” JUDGES TOOK OUR HOMES BUT IT’S NOT “CRIMINAL” ..

    WALK OUT OF K’MART OR WALMART W/ SOMETING & W/ OUT “PAPERWORK” (YOUR RECEIPT) & SEE HOW FAST YOU’RE ARRESTED….

    WHY IS THAT CRIMINAL ??? LET’S GIVE THESE JUDGES $ 1800. FOR THEIR MANSIONS & SEE WHAT A SLAP IN THE FACE THAT IS…..

    THE “BROKE -ASS” SYSTEM GRABBED OUR HOMES ILLEGALLY W/ “NO” CO.’S EXISTED & HURRIED UP &
    “SOLD” OUR HOMES W/ “QUIT CLAIM DEEDS” NOT “WARRANTY-DEEDS..

    1). NULL & VOID THE SALE, FORECLOSURE, & FINAL JUDGEMENT ….& QUIT CLAIM DEED

    2).IF “NO” ENTITY IN FLA. “LEGAL” CALL BRIAN IN O.F.R.(850) 410-9784 TO A “GOLD” SEAL CERTIFICATE
    FROM TALLAHASSEE, FLA. (ONLY) THEY HAAVE “NO” LEGAL RIGHTS TO “YOUR” HOME

    3). JUDGE CAN NOT TAKE YOUR HOME “LEGALLY” HE HAAS “NO” JURISDICTION…

    4). I HAVE 5 APPEALS OUT OF “6” IN LAKELAND, FLA.2D11-6547-TO 2D11-6552
    MARGETTA LANGLOIS VS. “CURRENTLY” UNKNOWN APPELLES (AIN’T THAT SOME “SHIT”????)

    (EXCLUDING 2D11-6550 ANOTHER HOME SAME JUDGES IGORED & ALLOWED SALES & I WAS NEVER “PAID-IN-FULL” & NEVER MADE “WHOLE”..

    5). PASCO COUNTY JUDGES STANLEY MILLS DEF.’S DO NOT APPEAR & ARE NOT FOUND “DEFAULTED”

    6). THEN YOU GOT WAALTER SHAFER WHO COVERS FOR MILLS &

    7). JUDGE BRY WHO SWEARS BY IT …

    8). “3” DIRTY JUDGES NEED “J-A-I-L”

    9). DO NOT GIVE UP

    10). IF YOU LOST YOUR HOME BY PASCO CIRCUIT COURT PLEASE CALL ME @ 727 326-3629…

    WE NEED TO “FIGHT” BACK & “GET” OUT HOMES “BACK” !!!!!

    • lies is all they tell says:

      margaretta…i am in hernando county , what is the word in hernado?? i heard from my lawyer he is tuff. but why be tuff? fraud is fraud. my note is forged and endorsed by a rubber stamp of joan m mills vp wells fargo bank. denied hamp loan. losing my paper work all inducement. fraud. as long as home owners fight we will be heard. we need to find someone to stand up for us. alert these judges to what is happening. my MTD goes out in 1 week. any way to write letters to these judges and let them know the fraud. i feel they just give the homes to banks because they do not know what is happening. i am a NURSE and in 2010 after the bp oil spill the hospital i was working for in st pete (yes 75 mile drive) started caneling nurses due to low census it took me all the way to 2/2011 to find a new job local. well a nurse i befriended there saved my phone# and called me a few weeks ago that chase called her that she was in foreclosure. there was no lis penedens and she has not been served yet. i found out during our conversation she also was canceled during the bp oil spill fiasco and asked chase for a modification in 2010 just like i ask wells fargo. well i tried to tell her all about these websites. to research and when served higher counsel. well she moved out of her house the other day. she told me that this was not worth a heart attack. i sympathize with her. this is quite stressfull to have fraud pulled on you and you cant do anything. so another fine win in chases column. thank you for fighting and let me know what you know about the hernando county judge that will be on my case. thank you please contaxct me here or on foreclosurehamlet i am ” saving my home in florida” thank you but i am worried sheetless these our homes and should never be taken out from underus by fraudulent means

  2. wwt3 says:

    Get back on it Taibbi!

    Stop using the banksters PR words like “robosigning offenses”, this is FORGERY and on a scale that carries very long prison terms, mega fines and IS a cake walk to prosecute.

    This gigantic forgery conspiracy [between our law-persons and the banks]

    is NOT “finalized” or a done deal!

    see

    ‘Missing Settlement Document Raises Doubts on $25B Deal’ at

    [www.americanbanker.com/issues/177_29/mortgage-servicers-settlement-1046574-1.html ]

    and

    ‘Mortgage Settlement as Attorney General Sellout: Deal is Not Done, and Final Version Guaranteed to be Worse Than Advertised – 02/11/2012 – Yves Smith’ at

    [ http://www.nakedcapitalism.com/2012/02/mortgage-settlement-as-attorney-general-sellout-deal-is-not-done-and-final-version-guaranteed-to-be-worse-than-advertised.html ]

    Use your platform to stop this gigantic “forgery conspiracy” perpetrated by the banks and our “law-persons”

    The victims of this mass FORGERY will not take it anymore!

  3. gregory says:

    Lets all hope it falls apart when some Real Americans get wind of what really happened…Greece here we come…

  4. talktotennessee says:

    Robo-signing and its counterparts were key issues! The industry knew they had unlimited liability that could extend for years that investigations, if anyone actually undertook them, would bring major grief. Fraudulent paper is an issue that can be proven. That advantage is gone now. Banks will pay expensive attorneys to challenge the comers now that they have immunity! Let the games begin, they have the weapons to defeat the residual claims. I warrant they may find legitimacy for their offspring, MERS!
    That is the kind of government we have now. Turn your back away as someone puts money in your pocket to fund your election!
    Truth, ethics all for sale!

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