Comments on: Adam Levitin | The Multistate Foreclosure Settlement

By: lvent

lvent — Mon, 14 Nov 2011 06:00:32 +0000

Unless they stop powder-puffing the real issue which is the fact that there is no legal fix for what the GSE’s and Wall Street did..the economy will never recover. Time to give the 99% a clean slate and return all of our stolen wealth … Honestly I don’t give a damn about the foreign investors at all…Selling interests to the foreigners in the American People was an act of treason by the U..S GOVERNMENT…and I don’t give a F–K about them..at all..Throw the Wall Street and the GSE crooks in prison and throw the traitor Politicians in Guantanamo that is where they all belong…The American people deserve a clean slate and full monetary compensation for what these crooks have done…. The U.S. GOVERNMENT should seize all of these crooks overseas bank accounts and take back all they have stolen from the 99% and return it to us..

By: Ron Moss

Ron Moss — Fri, 11 Nov 2011 16:33:20 +0000

Fortunately the Attorney General in my state wors for the State and not me. He has no authoritu to settle witrh and big bankers on my behalf.

By: pendinglawsuit

pendinglawsuit — Fri, 11 Nov 2011 15:59:50 +0000

Please visit the following website with a nationwide audience.

http://www.fedup99.com/following-barry-fagan/

IT HIGHLIGHTS ALL OF THE FRAUD BY WELLS FARGO BANK!

Thank you.

Barry S. Fagan Esq.

By: talktotennessee

talktotennessee — Fri, 11 Nov 2011 15:05:17 +0000

Anyone who believes that 20B will trickle down to homeowners, I got a bridge in Brooklyn!
Go ahead and sue MERS, the banks will pull support and leave it as empty as the shell it is. If given amnesty or a free ride look for banks to make a structure change that will leave victims no recourse. I sincerely pray that Biden will expose the MERS shell for what it is, a ‘construct’ to conceal banking crime.

By: Granicus

Granicus — Fri, 11 Nov 2011 11:25:44 +0000

I might add, if this goes through every AG that took part in this settlement should be disbarred.

By: Granicus

Granicus — Fri, 11 Nov 2011 11:21:39 +0000

Wow, how generous, 20B in bad mortages. What a scam. The banks are off the hook and the public gets toilet paper in return. And the best part is that we the public get to sue MERS, that shell of a company with no assets.
I’m speechless……………………………………………………………

By: talktotennessee

talktotennessee — Fri, 11 Nov 2011 06:03:38 +0000

No wonder there is no public discussion on the settlement? Even a rank amateur can see it is fatally flawed and only releases banks with a tip of the hat to their fraud. Where do the 20 billion mortgage backed assets that aren’t really worth 20 Billion, go? Who administers the payout and what is the criteria? This is a farce!
The only answer is to hold banks accountable for their fraud and exact a similar or higher amount in penalties.
No, the banks aren’t too big to fail.
The Government is bigger, at least it is before the Republicans get to it, and the government can take over any bank that can’t handle their business and should!
The housing industry is too big to fail! HOGWASH!!!!
It has already failed! It continues to fall, and even now home values are dropping in areas by 40-50-60%. and more in others. I am appraising houses now where there is NO market value for the improvement (house) on the lot. When one can buy a 2 BR 2 Bth house for $10,000 to 14,000 cash, friends, the lot cost the builder 15K or more than that and the property is currently assessed higher than market. As these continue to default what do people think this does to the city’s tax base?
There are no owner occupant buyers for these homes. The market goes to investor sharks looking for cash bargains at pennies on the dollar. We have interest rate lows below 4% but people can’t qualify that would buy this type home. Foreclosures are escalating again as banks feel they have weathered the robo-signing fraud unscathed. There is no drum roll, no special prosecutor or investigator. After all, all they had to worry about was Washington, DOJ and the Courts or the Attorneys general. Court action is unimpressive, Washington is involved in an election and solely in that endeavor. Attorneys general, showing a hint of political bias. Housing concern is over, at present. Short-sighted and foolish.

It makes one’s blood boil to read the potential settlement and know the banks are laughing all the way to their “bank” because they pulled it off and they now expect to pick up foreclosures while the parties are busy doing something else. Fast forward when the tax base is so gutted cities and states are cutting services plus housing inventory gluts the market and taxpayers are paying to gut or care for derelict housing. Can’t you see everyone wringing their hands saying, if only we had known how bad it would be we could have done something !!! Can you hear the rhetoric now in the inevitable Congressional hearings. “Oh woe as me” bad, bad. Look what you did while we weren’ looking. Wink, Wink!! Slap, slap!!! Now don’t do that again fellas, please. . . .