Thalidomide was sold in a number of countries across the world from 1957 until 1961 when it was withdrawn from the market after being found to be a cause of birth defects in what has been called “one of the
biggest medical tragedies of modern times”.[4] It is not known exactly how many worldwide victims of the drug there have been, although estimates range from 10,000 to 20,000.[5]
Since then thalidomide has been found to be a valuable treatment for a number of medical conditions and it is being prescribed again in a number of countries, although its use remains controversial.[6][7] The thalidomide tragedy led to much stricter testing being required for drugs and pesticides before they can be licensed.[8]
One can imagine the headlines back in 1961, just prior to the withdrawal of Thalidomide from the market.
Pharmaceutical Industry: Thalidomide Withdrawal Would Be ‘catastrophic’
The Pharmaceutical Trade Association said Monday that a “systemwide recall on all Thalidomide” would be “catastrophic”.
“It must be recognized that the pharmaceutical market, pharmacies, pharmacists, obstetricians who prescribed the drug to countless pregnant women, the trust and faith Americans have in their doctors and their health care providers are all inter-related,” Tom Rain, president and CEO of PTA, said in a statement. “Pregnant women, American mothers, and obstetricians, — including thousands of perfectly normal, cute, cuddly, cooing American babies–would unjustly be scared out of their minds from these actions.”
Flash forward to today & see today’s Washington Post here.
Wall Street: Foreclosure Moratorium Would Be ‘catastrophic’
The Securities Industry and Financial Association said Monday that a “systemwide moratorium on all foreclosures” would be “catastrophic.”
“It must be recognized that the mortgage market, investors and the health of the economy are all inter-related,” Tim Ryan, president and CEO, of SIFA, said in a statement. “Investors in the housing market — including American workers with pension funds, 401k plans, and mutual funds — would unjustly suffer losses in their savings from these actions.”
Sound familiar?
Look, Wall Street, we didn’t create this mess! YOU DID! Now you’re kicking and screaming like demons being exorcised from the fabric of America? Do you acknowledge the misery and suffering and damage to billions of human beings worldwide? No! In a flagrant show of arrogance and disregard for our constitutional property rights, land records, and judiciary, you Wall Streeters fabricated billions of documents and confettied America with them. What in the heck were you thinking, “Maybe they just won’t notice?”
G-D only knows how we’ll effectuate legitimate property transfer over the next half century since you blighted millions of titles. Well, thanks but no thanks to your propaganda and your voices of doom and gloom about a moratorium. People out of work? Industries in ruin? Economy damaged? BINGO you pigs asses! Who created this mess? Look in the mirror! Hoisted on your own petard!
~
The only catastrophe would be the banks having to take a big hit to their balance sheets when they have to write down the value of their assets.
Why of OCC and the FDIC allow banks to pay dividends while they have so much of their capital at risk is beyond me.
I would like to say thank-you for the highest level of integrity and honesty. But I must say that I am very afraid and don’t know who to turn too regarding my situation. As each and everyone of us is unique so is my situation. I just need help.
O REALLY… well they sure weren’t singing this tune when they were shoving Toxic Loans as fast as they could into the pipeline of the economy a few years back!
“It must be recognized that the mortgage market, investors and the health of the economy are all inter-related,”
Tim Ryan, president and CEO, of SIFA, said in a statement. “Investors in the housing market — including American workers with pension funds, 401k plans, and mutual funds — would unjustly suffer losses in their savings from these actions.”
Let them keep talking they dig themselves in deeper everyday… the investments are a shame, no true assignments, no actual trusts… one big empty hole. Time to put your big boy pants on Mr.Ryan.
Jesus said,
“You shall know the truth and the truth shall make you free”. John 8:32
In the book of Acts, chapter 5 , Ananias and his wife Sapphira were both struck dead for lying about the amount of money they had received in the sale of a possession. In verse 9 Peter asked Sapphira, “How is it that you agreed to test the Spirit of the Lord? Behold, the feet of them that buried your husband are at the door and will carry you out.” She immediately fell down dead and they carried her out and buried her beside her husband.
These bansksters, fraudsters, Wall Streeters, etc. have too long used as their mantra, FREE FOR THE TAKING, as they looked out across our great nation. Greed, lies and deceit have led us here.
Our great constitution guarantees rights for each person and his or her property. The Constitution does not say that whatever the rich, those with tricky, illegal enterprise, manipulating and scheming lawyers and accountants want, is, for THEM, “FREE FOR THE TAKING”. NO, A THOUSAND TIMES, NO!
All the laws in the world are of no avail when the courts themselves refuse to obey and enforce laws and statutes.
UNLESS we know the truth and act on the truth as a nation, how can we expect God to bless us and our great nation?
Since we cannot even take one single breath without Him, let us not pretend that we can violate HIS COMMANDMENTS, THOU SHALT NOT COVET, THOU SHALT NOT STEAL, THOU SHALT NOT BEAR FALSE WITNESS, AND EVER COME OUT OF THIS MESS.
We must humble ourselves, ask God’s forgiveness for our greed and seek His guidance for the future. We must each take a stand for what is the truth, what is honest and not be afraid of those, who are as roaring lions, pretending that it is theirs, FREE (for “THEM” alone) FOR THE TAKING.
The Washington Post article wants us to continue the Great Foreclosure Cover-Up, but no matter how much is covered up the ARTIFACTS ARE STILL THERE. Each one is like a pea under the mountain of mattresses, BUT, WHEN TRUTH, AS THE PRINCESS, LAYS ON THE MATTRESS, THE COVER UP IS OVER, PANDORA’S BOX HAS BEEN OPENED. It has been pried opened by diligent, painstaking WORK of countless men and women who would not agree to falsehoods and lies! They would not, “just keep silent” for the supposed, “good of the country”.
I thank each one who has been investigating, blogging, reporting, sharing. I thank judges such as Judge Schack in New York, who ruled on a case that was as close to mine as a fraternal twin from the same womb could have been. But while Judge Schack kept the courtroom door shut to the pretenders, the judges in my state, did not, thus violating the state statutes and aiding and abetting the conversion of my property.
I am 70 years old and was widowed just over a year ago. I believe that the stress and depressed immune system from frivolous law suits brought my husband to an early grave. I have just removed my case to Federal District Court, pro se, because I cannot afford an attorney. What I do have is the truth, my house was foreclosed on through frau;, one fictitious “fig leaf” of an assignment, not even a pretense of a “chain of custody”; perjury by the filing law firm, same old, same old story. I may not win, but I will fulfill a promise I made to my dying husband when he asked me to promise, “Do not go soft on them.”
We were married just over 49 years, and worked together in business all that time. I have learned how debilitating grieving can be. Many days I had to simply crawl back into bed and sleep. I have sat at the computer, as I do now with tear, trying to see what I am typing.
Why am I telling you this? Because, I believe, if EACH OF US STOPS TRYING AND DOING OUR NATION IS LOST!
As I believe Tiny Tim once said, “God bless us everyone!” and from me, NEVER SURRENDER and NEVER GIVE UP!
Joyoustreelady
HERE HERE!!! Just how do I type the more than appropriate standing ovation? Right ON! And to David Choe I ask… “but just who sat down and figured it out in the beginning? Who laid the plans? And just who was it that hired the best and the brightest to do it in the first place? And now just who’s trying to lay off blame in any direction they can? FOLLOW THE MONEY!”
Here’s a copy of a letter I just sent to Reality Check at CNBC about this:
What about the further FACT being glossed over in all this (and it’s a MUCH bigger story!)
When the Promissory Note is signed at closing, it is immediately cashed with the Federal Reserve for the full face amount of the “loan”, paying off the full amount right away (although the bank never actually “loans” a penny).
THEN, the bank has the “borrower” sign a Mortgage Note to a “Servicer”, and that Mortgage Note is also now deposited with Federal Reserve, but for TEN to TWENTY THREE times the face amount, thus creating even more “new money”,
This entire mortgage industry is a huge scam for the bankers, and they are grossly guilty of fraud and non-disclosure.
And this story has yet to be touched!
Below is a copy, edited for my privacy, of a letter I sent to my mortgage company on 9/7/2010, which if you read carefully, will fully reveal to you the complete extent of this criminal scam taking place nationwide. Although the bank responded to all previous correspondence, I have not received a word in response to this letter, which finally and bluntly calls them out on their fraud.
Here is my letter:
9/7/2010
In Re Mortgage # xxxxxxxxx
Dear Mr. Hughes,
This is in response in re your 8/27/2010 letter (copy enclosed). While your referenced letter claims to respond to my correspondence previously sent to you and to xxx Mortgage, Inc., you did not in any way provide the response I asked for. In fact, your response caused me to wonder whether you actually even examined what I sent, as your letter was nothing more than diversion and lies, and actually NO ONE from xxx Mortgage, Inc., including you, has ever ONCE responded to any of my correspondence in ANY of the detail both requested and REQUIRED of xxx Mortgage. Inc.
You were presented with complete information that described the true nature of my transaction engaged in with xxx Mortgage, Inc. and a detailed response has been repeatedly requested but to date, nothing requested has been forthcoming. Nor have I received a single response to my demand to inspect the original promissory note nor the original deed of trust, signed by both parties, as such presentation is required of you by law. Mailing me computerized copies is simply diversion and does NOT respond to my demands whatsoever, and for you to write that it does is idiocy.
As you have, to date, failed to answer the totality of my correspondence to xxx Mortgage, Inc.in any requested fashion, the facts presented in my correspondence still remain stipulated by you as fact. You and xxx Mortgage, Inc. were told that the only proper way to answer my questions and charges was with a rebuttal that rebuts, point by point, each of the questions and allegations affirmed in my correspondence I provided to you for an answer.
“Indeed, no more than (affidavits) are necessary to make the prima facie case.”
United States v. Kis, 658 F.2d, 526 (7th Cir. 1981), Cert Denied, 50 U.S. L.W.2169, S. Ct. March 22, (1982).
“Silence can only be equated with fraud where there is a legal or moral duty to speak or when an inquiry left unanswered would be intentionally misleading”,
U.S. v. Tweel, 550 F.2d.297 (1977).
In the alleged loan arrangements I entered into, I find that there is no proof of any value being received by me. This was also very clearly spelled out in my correspondence to you.
Please provide copies of original bookkeeping entries, certified by a CPA or auditor for your company, from the inception of the alleged loan.
Can you show any evidence of any consideration being given to me? If so, can you warrant to the validity of that evidence under penalty of perjury, regarding the alleged loan in question? While I may have been led to believe, at the time I signed papers that I thought encompassed a standard home loan, that I actually did borrow funds, I cannot find any evidence that I really borrowed anything at all.
Were any of xxx Mortgage, Inc.’s assets put at risk in the alleged loan made to me? If so, will you please show me the bookkeeping entries for the alleged loan, certified by a CPA or auditor, which would show that? If xxx Mortgage, Inc. truly did provide a loan to me, call reports for the period beginning with the alleged loan might also indicate any risk on the part of xxx Mortgage, Inc. The deposit slip for the note associated with the alleged loan would also be illuminating as to the true nature of the transaction. By the same token, the order authorizing the withdrawal of funds from the note deposit account, or evidence of the insurance policy on the note associated with the alleged loan, might suggest something else.
If xxx Mortgage, Inc. did make a loan of its money or credit, and if xxx Mortgage, Inc. carried an ongoing risk of loss to have made the loan, your bookkeeping entries would certainly show it. I believe, as shown in my correspondence to you, that your bookkeeping entries would reveal that I am not indebted to anyone at all.
At the time of the transaction, xxx Mortgage, Inc. knew that they were required, by Title 12, U.S.C. Section 1831n(2) (A), to adhere to the Generally Accepted Accounting Principles (GAAP). Within GAAP, there is a principle, called the Matching Principle, which works as follows: When a bank or mortgage company accepts cash, checks, negotiable instruments, promissory notes, or some other similar instrument from a customer, and deposits or records the instrument(s) as an asset, the bank or mortgage company must record an offsetting liability that matches the asset the bank or mortgage company accepted from the customer. When this is done, the offsetting liability shows that the bank or mortgage company owes the customer the money that it accepted from the customer.
Officials at xxx Mortgage, Inc. were knowledgeable of the fact that its bookkeeping entries will show that I am the true creditor in this matter and that xxx Mortgage, Inc. is the true debtor. So, for obvious reasons, you have no interest in producing documentation showing accurate bookkeeping entries regarding this alleged loan. To me, it is obvious why you respond as you do and why you do not want it to be made known that xxx Mortgage, Inc. could not loan to me their own assets, the funds of their depositors, or their own credit.
Title 12 U.S.C. Section 24, Paragraph 75, confers upon a bank or mortgage company the power to lend its money, but not its credit. This is further backed by the following court decisions…
In the case of Norton Grocery Co. v. People’s Nat. Bank of Abingdon, Va., 144 S.E. 501, the Court held “National banks may lend their money, but not their credit, and are not eleemosynary institutions.”
In the case of Federal Intermediate Credit Bank of Omaha v. L’Herisson, 33 F.2d 841, 847, “A national bank, even though solvent, cannot lend its credit to another.”
In the case of Farmers and Miners Bank v. Blufield National Bank, 11 F.2d 83, 271 U.S. 669, the Court held, “A national bank has no power to lend its credit by becoming surety, endorser, or guarantor for another.” See also First Nat. Bankof Tallapoosa et. All v. Monroe, 69 S.E. 1123,1124, and Merchants Bank v. Baird, 160 F.642, 645.
In the case of Bowen v. Needles Nat. Bank 94 F. 925, the Court held, “A national bank has no power to lend its credit to any person or corporation.”
In the case of National Bank of Commerce v. Atkinson, 55 F. 465,471, the Court held, “There is no doubt but what the law is that a national bank cannot loan its credit or become an accommodation endorser.” See also Howard & Foster Co. v. Citizens’ Nat. Bank of Union, 130 S.E. 758, 759.
For review, Mr. Hughes, the following is what I believe xxx Mortgage, Inc. and you know about the true nature of my transaction that I entered into on the day I signed the papers used in this transaction.
Officials at xxx Mortgage, Inc. knew that it needed my signed application and note as funding instruments of the transaction.
Officials at xxx Mortgage, Inc. knew that in my transaction, xxx Mortgage, Inc. risked absolutely none of its assets.
Officials at xxx Mortgage, Inc. knew that xxx Mortgage, Inc. was using the note that I signed as a means of “raising” an asset to itself in its bookkeeping entries and then used the face value of the note (called “principal”) to fund the transaction and then falsely referred to the transaction as a loan when, in fact, nothing of the kind actually occurred.
Officials at xxx Mortgage, Inc. knew that xxx Mortgage, Inc. was, then charging me interest under the false premise that xxx Mortgage, Inc. had provided me with a loan in the universally understood definition of the term “loan”.
Officials at xxx Mortgage, Inc. also knew that I was never made aware of these facts; that I had to figure all of this out on my own … which I have.
I further believe that the above five facts equally apply to you, Mr. Hughes.
The book entries of xxx Mortgage, Inc. will show that I am owed the face amount of the note in question, plus interest, and I believe you know this… which is why you sent the uninformative response you did dated 8/27/2010 and why xxx Mortgage, Inc. will fight , and obfuscate, and distract, and delay, and deny, and deflect, and do whatever it feels it needs to do, long before xxx Mortgage, Inc. and you will admit any of this.
I believe xxx Mortgage, Inc. knows that the note was fraudulently obtained by them, as it was used in a way that was not disclosed to me. Officials at xxx Mortgage, Inc. know that this entire transaction was voided due to lack of consideration and that xxx Mortgage, Inc. benefited from the knowledge that I was not aware of these facts.
In light of the above, I have grounds for a lawsuit against xxx Mortgage, Inc. under RICO as provided in USC Title 18. Your response to this letter will determine whether you and xxx Mortgage, Inc. will be included in any further legal action against the parties to this illegal debt.
If you and xxx Mortgage, Inc. are going to maintain that I am fabricating these facts, I make a very simple, reasonable request: show me the documentation that overcomes what I’ve presented here and what I have already sent to you and to xxx Mortgage, Inc.
Copies of a note and deed of trust prove nothing at all. Show me some proof that I actually obtained a real loan. Show me that xxx Mortgage, Inc. did not merely use, as the funding source of the transaction, the monetized proceeds of the note that I provided to xxx Mortgage, Inc.
Please do the right thing, Mr. Hughes, and provide the validating documentation I am asking for. If you do not do so, I will take your non-compliance as your consent for me to proceed with all actions necessary to protect my interests.
Additionally, Mr. Hughes, pursuant to the Fair Debt Collection Practicea Act. 15 U.S.C. §§ 1601, 1692 Et Seq., this letter also constitutes timely written legal notice to xxx Mortgage, Inc. that I, xxx xxxxx, decline to pay the referenced erroneously purported debt unless and until xxx Mortgage, Inc.
1. satisfactorally validates purported debt;
2. validates that purported debt does NOT constitute fraud;
3. produces completely a valid, complete, and detailed response as requested and demanded herein.
And until all the requirements of this letter and the Fair Debt Collection Practices Act have been met by xxx Mortgage, Inc. in full and until xxx Mortgage, Inc.’s claims are validated in fact, case law, and evidence, xxx Mortgage, Inc. has no legal jurisdiction to continue any collection activity on the purported debt that xxx Mortgage, Inc. alleges xxx xxxxx owes xxx Mortgage, Inc.
This is NOT xxx xxxxx’s refusal to pay a lawful debt, but xxx xxxxx IS hereby:
1. disputing the validity of the alleged debt;
2. disputing that purported debt does NOT constitute fraud;
3. demanding that xxx Mortgage Inc. produce the genuine original Promissory Note as signed by both parties and all related documents and answers/rebuts this letter in toto plus answers/rebuts all of xxx xxxxx’s previous correspondence, allegations, questions, and demands in full detail as stipulated by law.
This is constructive notice that, absent the validation of xxx Mortgage, Inc.’s claims and response by a qualified, authorized bank official of xxx Mortgage, Inc. within 10 days,
xxx Mortgage, Inc. must cease and desist any and all collection activity and is prohibited from contacting xxx xxxxx other than through the mail, and xxx Mortgage, Inc is specifically prohibited from contacting xxx xxxxx by telephone, in person, or in public.
Further, xxx Mortgage, Inc. is prohibited from contacting xxx xxxxx’s bank;
And xxx Mortgage, Inc. is prohibited from contacting any other third party regarding xxx xxxxx, as each and every attempted contact as forbidden above is in violation of the Fair Debt Collection Practices Act and will constitute harassment and defamation of character and will subject xxx Mortgage, Inc. and/or board, and any and all agents in his/her/their individual capacities, who take part in such harassment, and defamation, for a liability for actual damages, as well as statutory damages of $1,000,000 for each and every violation.
Further, if I am forced to file charges against xxx Mortgage Inc. or any individual employees of xxx Mortgage, Inc. due to xxx Mortgage, Inc.’s refusal to respond, then I will demand that xxx Mortgage, Inc. marks the subject erroneous purported debt “Satisfied” and “Paid in Full” on the county records books and refunds each and every monthly payment (principal and interest) which I may have inadvertently made toward said fraudulent purported debt; and require xxx Mortgage, Inc’s return of my genuine original blue ink signature affixed upon the genuine original documents that may exist pertaining to the subject erroneous purported debt.
Sincerely,
In closing, do you really have the nerve to take on this REAL story and expose the truth??! There’s probably a potential Pulitzer in this.
BEAUTIFUL PIECE OF HARD WORK! WELL DONE!
Put these bastards away for good !!
They are menace to society and corrupt to the core being.
Don’t trust these crooks, remember if we don’t clean up this mess, the future of our children will be DOOMED !!!
Let’s do the right thing for the future of our kids !!
This is not the legacy I want to leave behind for my children, over my dead body !!!
“fool me once, shame on you. fool me twice, shame on me.”
YOU GO GIRL!!! TAKE THAT WALL STREET!
BRAVO for an honest reply.
David Cho from the Washington Post just said on CNBC this morning that the bigger problem is not the paperwork so much but rather the responsibility of the servicers to the investors. People are starting to get it…