Well said !

If a plaintiff lawyer lies the first time around, why is it OK for them to re-package their lie and serve it to me agaiin?

Very well said! Now is the time to stand up and demand that justice is done!!!

Fraud is a crime, and those who commit fraud have unclean hands which bars foreclosure.

The banksters who caused this mess need to be prosecuted, and their assets need to be seized to repay their victims, both homeowners who had their homes stolen and investors who invested in the bankers’ fraudulent securities.

GMAC is the US Government; Treasury is the majority shareholder.

All the “banks” that played in mortgages at the investment banking level are really just a collection of the offshore SIV’s; only the “super senior” debt was held by some US banks, and even then a lot of that was really just risk they quietly shifted back when it was clear that Treasury was going to bail them out for their incompetent lending decisions.

We’ve broken the market, gutted our court system, allowed crooks to loot the Treasury, and now tried to gut the first amendment to protect a bunch of incompetent bond traders who refused to accept the losses they signed up for.

Of course, the invisible hand always wins; the only question is whether it forces things into place with a gentle nudge, a hard push, or a violent smack. It’s unbeatable, and always has been.

The paper those notes are printed on is virtually worthless: we need to stop pretending otherwise and just let the too big to fail crowd meet the destiny they signed up for. Smarter bankers will take their place who, as real bond traders like Lew Ranieri understand, will work with their borrowers not out of a sense of compassion (though nothing is wrong with that) but because that is what makes the most financial sense.

This country is faced with what is arguably the worst crisis since the civil war; now is the time for real people, no matter what their political persuasion, race, socio-economic class, or anything else — to stand up, meet the challenge, protect one another and our children, and demand that justice be done.

Bout dayn time!

Bankers. Read the first amendment. Think about why the framers wrote it. Then read the next amendment they wrote and think about the message they were relaying should #1 ever be subject to what you just tried.