LYONS: Report on foreclosure’s legal issues is refreshing
Who knew the state Attorney General’s office could be so delightfully snarky?
In what could have been a dry, legalistic account of problems judges are grappling with in foreclosure cases, the AG’s economic crimes division comes off like they are trying out as comedy writers for the Jay Leno Show.
And you have to love it, because the butt of the jokes, oh so appropriately, are major banks and their lawyers who have been filing grossly flawed or flat-out bogus mortgage documents in courts all over Florida and elsewhere.
If you are an outraged follower of what banks have been getting away with, you might already know the nuts and bolts of the material, which the AG presents in a PowerPoint slide show titled “Unfair, Deceptive and Unconscionable Acts in Foreclosure Cases.”
No laughs in that grim topic, you might think.
But actually there are many, especially for anyone who appreciates seeing shoddy lawyering exposed. If you are new to perusing bogus mortgage documents filed in court, you might hardly believe that even lawyers of the kind featured in lawyer jokes would have that much audacity.
The AG shows what I’ve written about before: Bank documents clearly dummied up, falsely dated, and signed with phony signatures, often by people presented as vice presidents of companies who never had any such employee.
Some court filings have crucial portions left empty or filled only with reminder phrases that imply “put bogus claim here,” something no judge was supposed to see. And sometimes, a notary stamp attests to impossible signature dates.
Check out the rest here…
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Each day I watch everything unfold, I can’t help thinking how to profit from the implosion of the banks. Sure bank stocks go up and down 1, 2, 3 percent… but no implosion. What is it that shareholders know or believe that I do not?
Now I get it. It is the Federal Reserve. Here is this independent group of people that keeps creating money to give to the banks each time bad stuff happens. Their goal is to create money and prevent calamity at the biggest banks. This is a noble goal for the economy and society. But what do the banks do with the money. They simply pump up their reserves, buy new legal help, maintain their salaries and “kick the can (of problems) down the road”. In their self preservation mode, banks remain a contributor to our economic problems. As long as the Fed keeps doing this, the banks will behave exactly the same. And, betting against the banks, quite obviously is like betting against the Federal Reserve. That’s a suckers bet.
For all this crapola to stop and to move the economy and real estate along, the Fed needs to pick the big bank it is willing to allow to fail… then cut its cash pipeline and let it fail. Others will get the message and change their “I’m above the law because the Fed is my guardian” stance. Until the Judiciary recognizes criminal intent by bank officers, it is the Fed that holds the cure to the foreclosure problem.
It is starting to look like with every day that goes by these Banks and their Attorney’s are becoming so much more disrespectful of the law, the court, the judges, the homeowner’s property rights that they are becoming more and more outrageously bold, arrogant and sloppy, It almost seems as if they are begging for someone to stop them. So, what is stopping our Government from placing an Indefinite Nationwide Moratorium on all Foreclosures? The rape and pillage of America continues by the same criminals over and over again and the Government continues to refuse to stop them.
Has anyone seriously considered forwarding this to the John Stuart show?
He likes to explain the serious problems of the day with simple graphics and the palm to forehead moments.
Can you envision him doing this live ? It is just his sort of fare !!