Is Obama’s ‘Economic Populism’ for Real?
My first thought, when I heard about this deal, was that Schneiderman was deciding to compromise on robosigning and other post-securitization abuses, in exchange for a mandate to go after the much bigger crimes, which took place in the origination/securitization stages.
The securitization offenses were massive criminal conspiracies, identically undertaken by all of the big banks, to defraud investors in mortgage-backed securities. If you’re looking for an appropriate target for a massive federal investigation, one that would get right to the heart of the corruption of the crisis era… well, they picked the right target here.
If they were to do a real clean sweep on securitization, the federal prisons would end up literally teeming with senior executives from the biggest banks. A lot of very big names would end up playing ping-pong and cards in Otisville and Englewood.
The question is, how real of an investigation will we get? The fact that Schneiderman’s co-chairs are Lanny Breuer and Robert Khuzami make me extremely skeptical. I’m actually not sure that both men, in an ideal world, wouldn’t be targets of their own committee’s investigation.
Check out the article in full here…
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I Agree with you IVENT. Homes back to the last person with clear Title THE HOME OWNER/BORROWER WHO WAS DEFRAUDED! I don’t see it as a FREE HOME NO! It is where they COMMITTED THE CRIME! THE CRIME SCENE if you will. If someone breaks into your house and stills all your belongings and the THIEVES GET CAUGHT WITH THE GOODS AND THROWN IN JAIL. The COURTS RETURN ALL YOUR STOLEN GOOD’S AND FINE’S THEM A RESTITUTION FOR THERE PUNISHMENT. In this case THEY STOLE THE WHOLE HO– USE. On top of that they sold the house at an inflated price then SET THE BORROWER UP TO DEFAULT SO THEY COULD COME BACK AND STILL THE HO– USE NOT FORECLOSE IT! You have to have proof of standing or Proper
CHAIN OF TITLE TO FORECLOSE AND THEY DON’T. BY THEIR OWN ENGINEERING THE GREEDY BASTARD’S F*#T THEM SELF’S….. SO THE HO– USE IS THE RESTITUTION TO EACH AND EVERY VICTIM! THE BORROWER! THAT IS THE ONLY WAY IN MY OPINION TO FIX IT AND MAKE IT RIGHT! ALL OTHER HOME OWNER’S THAT THERE LOANS WHERE NOT EFFECTED IN THIS MESS TO EXTENT OF MOST OF US ALSO SHOULD GET RESTITUTION IN THE FORM OF A REFUND IN PROPERTY TAXES FOR THE FALSELY INDUCED INFLATED VALUE THROUGH THE BOOM YEAR’S AND ALSO THE OPPORTUNITY TO RE-FINANCE AT A SPECIAL RATE. ALSO THE INSURANCE COMPANIES THAT HAD TO PAY ON THESE FRAUDULENTLY INDUCED DEFAULTS SHOULD GET RESTITUTION FOR THERE LOSSES! THE PONZI SCHEME IS OVER BOY’S GIVE BACK OUR PROPERTY AND OUR LIBERTY! FANNY AND FREDDY STOP THE CHARADE! YOU DON’T OWN ANYTHING THE AMERICAN PEOPLE OWN IT! WHEN HOME’S FALL BACK TO THESE INSTITUTIONS THEY ARE BACKED BUY THE UNITED STATES GOVERNMENT WHICH IS SUPPOSED TO REPRESENT THE INTEREST OF THE PEOPLE NOT THE POLITITION’S THAT HAVE A SELF-SERVING INTEREST IN THESE. F**# YOUR PORTFOLIO NEWT THE BIG FIG. YOU’VE BEEN BLOWING IT OUT YOUR ASS FOR YEAR’S EX HO– USE SPEAKER. YOUR BREATH SMELLS LIKE SHIT! AND LAY OFF THE GREASY FOOD MISTER CHOLESTEROL! IF WE HAD ANY POLITICAL LEADER’S AT ALL THAT CARE’D ABOUT THE COUNTRY THIS MESS WOULD HAVE BEEN DELT WITH BACK THE EARLY 2000’S. GIVE BACK THE HOMES AND RESTORE THE PROSPERITY TO THE PEOPLE! WE THE PEOPLE ARE NOT DEADBEATS. WE ARE HARD WORKING AMERICAN’S WITH AMERICAN VALUES AND RESPECT FOR OUR HERITAGE AND OUR RIGHTS AS SET FORTH IN THE CONSTITUTION OF THE UNITED STATES! TO THE 1%. GIVE BACK THE PROSPERITY TO AMERICA AND THE REST OF THE WORLD! STOP WITH YOUR GREED OR THE PEOPLE WILL REVOLT AND YOU CANNOT WIN IN THE END! IF YOU WANT TO USHER IN A NEW WORLD ODER. DO IT IN AN HONORABLE AND CONSTITUTION ABLE WAY PROVIDING LIBERTY AND JUSTICE FOR ALL HUMANITY WHERE FREEDOM OF RELIGIONS CAN CO-EXIST. WHERE FREEDOM AND PROSPERITY CAN BE FOUND ANY WHERE ON THE PLANET FOR THOSE WHO ARE WILLING TO WORK HARD FOR IT. AND NO MORE WAR’S ARE TOLERATED . NOT A COMMUNIST TOTALITARIANISM TYPE CONTROL! PEOPLE AROUND THE WORLD WANT WHAT AMERICA ONCE WAS. FREEDOM TO EXIST TO LIVE YOUR LIFE AS YOU CHOOSE. NO ONE WANTS TO BE A SLAVE TO YOUR NWO MACHINE.
Right on Bloodsoaked! They never assigned their lien to cover up for hundreds of trillions in fraud they were committing with our signatures without our knowledge or permission..VICTORY IS OURS!!! All the liars and traitors are being exposed. All of the lies are catching up with them and they are caught red handed in their own web of lies..I could see it in the debates tonight..they all looked exceptionally nervous IMHO…they are all filthy animals..
Ivent IVENT! Listen. LISTEN!! Your 700 trillion number is stupid. You, I know, are not an ignorant person; hence, the number is stupid.
JohnZ
Wanna bet…? It is really $1.2 QUADRLLION IN DERIVATIVES FRAUD..IF IM STUPID THAN SO IS DYLAN RATIGAN AND MAX KEISER WHO SAY THE SAME NUMBER…THERE IS $700 TRILLION IN MORTGAGE DERIVAIVES FRAUD…NO COLLATERAL BACKING THAT UP…GOOGLE IT..THERE IS AN ARTICLE AT DAILY FINANCE ABOUT THE GLOBAL BLACK POOL OF DRRIVATIVES FRAUD…!
Ok.you did not call me stupid you said I am wrong ..Do your homework..The banksters hold so much risk they claim they do not even know how much…but…the shadow knows!
JohnZ….My question for you is ….Who told you that number is false?
CNBC reported Wall Street made $60 trillion dollars in 1999 from mortgage derivatives…..in one year John..AND HOW MUCH COLLATERAL DO YOU BELIEVE THEY HELD TO BACK UP THOSE NUMBERS???
Bring it on..but please…bring some ammunition to back up your claims..!
Dylan Ratigan says it is more like..$708 TRILLION IN DEBT TO BE MORE EXACT…
Looks like the trolls are speechless….
Here is a link to the article JohnZ..One of the worlds leading derivatives experts, Paul Wilmott, who holds a doctorate in applied mathematics from Oxford University, says the risk in the notional value of the Global Derivatives market is 20 times the size of the world economy….The world GDP is betweeen $50 trillion and $60 trillion…here is the link to the article entitled: BIG RISK: $1.2 QUADRILLION DERIVATIVES MARKET DWARFS WORLD GDP
http://www.dailyfinance.com/2010/06/09/risk-quadrillion-derivatives-market-gdp/
Wall Street and the Banksters have way more bets than poker chips…Like possible $1.2 Quadrillion dollars in bets with no collateral to back that up…It is a giant house of cards that all hinges on a trigger…
Don’t forget Matt they defrauded ALL of us to..creating $700 trillion dollars in debt for themselves IN OUR NAMES…FROM OUR SIGNATURES…MULTIPLY PLEDGING THE NOTES HUNDREDS OF TIMES WITH NO COLLATERAL BACKING THAT UP…! THEIR DEBT IS UNSUSTAINABLE…AND BECA– USE OF THAT MASSIVE MORTGAGE FRAUD..ALL TITLES ARE CLEAR BACK TO THE HOMEOWNERS …!!
“Breuer, meanwhile, worked for the hotshot defense firm Covington and Burling, which among other things provided legal help that led to the creation of the electronic mortgage registry system MERS. ”
IMPEACH!