Jamie Dimon Blames You For The Lousy Economy
Jamie Dimon has met the American economy’s enemy, and it is us.
The JPMorgan Chase CEO brayed his thoughts on the sluggish economy to a crowd of employees and probably-bewildered customers at a local Chase branch in Upper Arlington, Ohio, on Tuesday.
To sum up, Dimon’s message was: Aren’t you all ashamed of yourselves for what you have done?
“It’s because of us. We scapegoat each other. We point fingers,” Dimon said, according to The Columbus Dispatch.
Some economists say the economy is limping along because consumers are still too weighed down by debt. Some say it’s because policy makers haven’t done enough to help. Some say it’s because banks just refuse to lend. Dimon knows better.
The real reason the economy is doing poorly, according to Dimon, is because of our constant finger-pointing and asking of unhelpful questions, like: “Why aren’t banks holding more capital?” and “Why aren’t any of you bastards in jail?” and “Who took all of my money?”
Rest here…
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This is my newly discovered SHOCKER STORY OF THE DAY. It even beats out LIBOR, Bid-rigging, robo-signing,. drug cartel money laundering….etc. etc. Perhaps some of you readers have seen it already…I just came across it yesterday.
Wanna Buy a Government-Foreclosed Home? OK. Just Bring $10,000,000.00
Posted on June 29th, 2012 by Mark Stopa
I’ve often expressed my disgust at how Fannie Mae and Freddie Mac frequently pay banks 100% of their judgment amounts in foreclosure cases. It’s an appalling dynamic in foreclosure-world, one where banks often have no incentive to modify mortgages because “our” government will pay the banks in full once the foreclosure is over (and all the banks have to do is convey title to Fannie and Freddie). Incredibly, just when I thought I couldn’t be any more appalled, somehow, my disgust with “our” government reached a new level today.
I have it on good information (directly from someone personally involved) that Fannie and Freddie are selling foreclosed homes in bulk to third-party investors. Not one at a time, not several – dozens – at heavily discounted rates. In other words, many of the homes in Florida and elsewhere that have been foreclosed, with lower and middle-class homeowners thrown onto the streets and title transferred to Fannie or Freddie, are being sold to third-party investors in bulk.
If you think that sounds like an interesting investment opportunity, a chance to purchase a new home after you were foreclosed, let me stop you. Fannie and Freddie aren’t making these investments available to just anyone. To qualify, to even get inside the door to the auction room, you must have at least $10,000,000.00 in assets, and you must be able to prove the existence of those assets via bank statements and the like.
Ten million bucks, just to get in the door.
Is this what America has become? Throwing Americans onto the streets so “our” government pays the banks to foreclose and “our” government sells those houses in bulk at discounted rates to third-party investors with an eight-figure net worth?
Apparently so.
Sigh.
You know what’s arguably even worse? Nobody is even talking about this. No news stories. No media coverage. Nothing. Would you have known about this if Mark Stopa – basically a nobody in the scope of national news and politics – hadn’t blogged about it?
Why such secrecy? Where is the media coverage? Where’s the outrage? Who is running our government, exactly? This is as big an issue as Obamacare – thousands of homeowners getting foreclosed and their homes being sold in bulk to the mega-wealthy. Why is nobody even talking about it? Is America really a land where our government takes houses from the poor and middle class and sells them in bulk at discounted rates to the mega-wealthy – and it does so completely in secret? Does anyone care?
This is why I consider this the biggest post I’ve ever written. This is what is driving the whole foreclosure crisis, and nobody knows about it. Nobody’s even talking about it. Change is not possible without awareness, and right now, all Americans are totally in the dark about this dynamic. Well, all Americans except those who have $10,000,000.00.
May God help us all.
Mark Stopa
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Just $tuff a few grand down his throat so he will shut the hell up. Preference is rolls of pennies a couple of grand will do…copper only please.
@ those quoting scripture:
You may want to cut and paste from a New Modern Day English Bible for 21st Century – most Americans today don’t or cannot grasp or translate 15th-18th Century Old English grammar – if your goal is to convey scripture – do it in Modern day English. The Biblical scriptures were written well over 2000 years ago in Ancient Hebrew – then translated by many languages over the centuries then in English in what 1500-1800’s (??) there is no reason to quote or blog scripture in a language no longer spoken today. Any philosophy you are trying to evince is getting lost – speak or comment in today’s words – or put the messages you want people to know in proper English. And make meaningful comparisons (parables) to Biblical messages in relation to what’s going on in the mortgage mess today – otherwise no one reading this blog has any idea what you are trying to convey?? Otherwise, all you are doing is cutting and pasting religious words with no connection to the article . . .
@papergate
Just because you are smart enough to understand the bible as it was quoted is a problem for you and not for others. Regardless whether it’s from the KJV, NIV or etc, shouldn’t matter. Just because you’re too ignorant to comprehend doesn’t mean anyone else is. Scriptures are scriptures and you and no one else will strip that freedom to quote it anywhere on any blog. Who are you to decide that? No one irrelevant as far as I’m concerned.
That’s why ONLY the PEOPLE NOW must RISE TOGETHER to rewrite HISTORY, and NOT be PUSHED around ANYMORE by this domino chain of FRAUD and DECEPTION.
THE SHERIFF AND POLICE SHOULD BE NOW INVESTIGATING THESE BANKS BECA– USE THE PERPETRATORS HAS BEEN EXPOSED.
THERE HAS ALREADY BEEN NATIONAL NEWS COVERAGE OF THE BANKS BEING GUILTY.
WHY THE POLICE ARE NOT INVESTIGATING THESE BANKS BEFORE THEY COME OUT TO WRONGFULLY EVICT YOU?
THEY TOOK SWORN OATHS TO PROTECT THE PEOPLE, AND THEY’RE BREAKING THEIR OATHS WHEN THEY DO THIS TO YOU.
IT ONLY GOES TO SHOW YOU WHO’S SIDE THEY ARE ON.
SO AMERICAN PEOPLE OF THIS COUNTRY ASK YOURSELF, WHERE ARE THE LAWS THAT SAY THAT YOU GIVE UP YOUR HOME TO FRAUD?
THESE COURTS ARE ALSO TAKING YOUR HOMES.
HERE ARE THE FACTS: CHECK YOUR DEED OF TRUST, AND — USE YOUR COMMON SENSE.
1) YOUR SUBPRIME LENDER HAD SOLD YOUR MORTGAGE NOTE TO WALL STREET WAS PAID.
2) THEN WALL STREET CHANGED YOUR PROMISSORY NOTE INTO A SECURITIZED ASSET CERTIFICATES FOR THE TRUST.
3) YOUR SUBPRIME BANK HAD JUST VOIDED YOUR DEED OF TRUST CONTRACT WHICH MAKES IT UNENFORCEABLE.
4) THIS MEANS NO ONE CAN FORECLOSE BECA– USE CHANGING YOUR PROMISSORY NOTE TO A STOCK CERTIFICATE WASN’T INCLUDED IN YOUR DEED OF TRUST CONTRACT. GO BACK TO YOUR DOT & CHECK PARENTHESIS NOTE.
5) THAT’S A BREECH OF YOUR CONTRACT, AND NOW THE CONTRACT IS CANCELLED.
6 ) AT THAT POINT YOUR SUBPRIME BANK DIDN’T ASSIGN ANY BANK BECA– USE IT’S IMPOSSIBLE TO UNDO WHAT’S BEEN DONE.
7) NOW YOUR SUBPRIME BANK HAS BEEN OUT OF BUSINESS FOR YEARS.
8) ONLY THAT SUBPRIME BANK HAD THE RIGHT TO FORECLOSE, BUT YOUR BANK LOST CONTROL BY SELLING TO A STOCK MARKET WHICH IS NOT A BANK.
9) YOUR BANK HAS ALREADY MISSED THE STATUTE OF LIMITATIONS OF 3-4 YEARS TO COLLECT THE DEBT FROM YOU.
10) YOUR SUBPRIME BANK IS NOW A DEAD BANK WHICH NO LONGER EXIST, AND EVERYTHING THAT YOU ORIGINATED WITH THAT SUBPRIME BANK DIED WITH IT.
11) LATER IN 2008 THE TARP BAILOUT PRIME BANKS GOT GREEDY AND CONSPIRED TO ROBO SIGNING, AND BACK DATING FRAUD WITH MERS, RECONTRUST, & THE TRUSTEE TO HIDE YOUR OUT OF BUSINESS SUBPRIME BANK BY ACTING AS A TRUSTEE FOR A SECURITIZED ASSET TO STEAL YOUR HOME WHICH BELONG TO YOUR DEAD SUBPRIME BANK AND THE CLOSED TRUST.
12) ONCE YOUR ASSET CERTIFICATE WAS PLEDGED INTO THE TRUST, NO TRUSTEE OR PRIME BANK CAN’T TAKE THE PROPERTY BECA– USE IT WILL EFFECT THE TAX STATUS OF THE REMIC.
13) JUST TAKE A CLOSER LOOK AT YOUR PAPERS IF YOU’RE IN FORECLOSURE LOOK FOR IF THE TRUSTEE STATES REFERENCE FOR “SECURITIZED ASSET” IS PROOF THAT YOUR SUBPRIME BANK SECURITIZED YOUR MORTGAGE.
14) THAT’S THE REASON WHY IT’S IMPOSSIBLE FOR THE PRIME BANKS TO PRODUCE THE VALID CHAIN OF ASSIGNMENT BECA– USE THEY WERE NEVER GIVEN ONE BY YOUR SUBPRIME BANK.
15) THIS IS WHEN ALL THE ROBO SIGNING GOT OUT OF CONTROL. NOW LOOK AT THESE PRIME BANKS THAT GOT CONVICTED GUILTY OF FRAUD, AND ALSO SIGNED A CONSENT DECREE TO STOP.
16) DON’T BE FOOLED, IF YOUR SUBPRIME BANK IS OUT OF BUSINESS IS ALSO CONFIRMATION THAT THEY WAS THE RESPONSIBLE PARTY THAT SOLD YOUR MORTGAGE TO WALL STREET.
17) SO NO OTHER BANK, STATE OR GOVERNMENT CAN’T VALIDATE/COLLECT THIS DEBT, BECA– USE THEY WERE NOT ASSIGNED THIS DEBT BY YOUR SUBPRIME LENDER WHO NO LONGER EXIST. IS VOID.
18) THEY ‘RE NOT GOING TO STOP UNTIL THE PEOPLE DECIDE TO WAKE UP AND ALL COME TOGETHER TO NIP THIS PROBLEM IN THE BUD.
19) THERE ARE NO LAWS THAT SAY THE PEOPLE HAVE TO GIVE UP THEIR HOMES TO FRAUD.
WE THE PEOPLE, MUST DECLARE A NATIONAL MORATORIUM ON ALL FRAUDULENT EVICTIONS TO RESTORE THE POWER BACK TO THE PEOPLE…
IT WON’T STOP UNTIL WE DECIDE THAT ENOUGH IS ENOUGH.
BECA– USE IF YOU LOOK THE OTHER WAY, IT WILL SPREAD OUT OF CONTROL TO A POINT THAT OUR CHILDREN, FUTURE MAY NOT EVEN HAVE A HOME.
TO START THIS MOVEMENT, PLEASE SIGN THIS PETITION AND FORWARD IT TO EVERYONE THAT YOU KNOW BECA– USE THERE’S STRENGTH IN NUMBERS BY THE PEOPLE..
http://www.thepetitionsite.com/983/896/071/american-people-lets-all-stop-the-wrongful-foreclosure-fraud/?fb_action_ids=10151001544868292&fb_action_types=og.recommends&fb_source=aggregation&fb_aggregation_id=246965925417366
Charley,
I found your post very interesting, because I have been in forecloser for four years and my original subprime lender went out of business back in 2007 and I am trying to prove, HSBC dosn’t have any standing in court and can’t prove they own my loan. How do I find out if my loan was securitized and put in trust. Thanks Ben
He sure is an arrogant s o b………..Justice has smacked him right in his pocket book, I like hearing him whine 🙂
61 Also every sickness, and every plague, which is not written in the book of this law, them will the Lord bring upon thee, until thou be destroyed.
62 And ye shall be left few in number, whereas ye were as the stars of heaven for multitude; because thou wouldest not obey the voice of the Lord thy God.
63 And it shall come to pass, that as the Lord rejoiced over you to do you good, and to multiply you; so the Lord will rejoice over you to destroy you, and to bring you to nought; and ye shall be plucked from off the land whither thou goest to possess it.
64 And the Lord shall scatter thee among all people, from the one end of the earth even unto the other; and there thou shalt serve other gods, which neither thou nor thy fathers have known, even wood and stone.
65 And among these nations shalt thou find no ease, neither shall the sole of thy foot have rest: but the Lord shall give thee there a trembling heart, and failing of eyes, and sorrow of mind:
66 And thy life shall hang in doubt before thee; and thou shalt fear day and night, and shalt have none assurance of thy life:
67 In the morning thou shalt say, Would God it were even! and at even thou shalt say, Would God it were morning! for the fear of thine heart wherewith thou shalt fear, and for the sight of thine eyes which thou shalt see.
68 And the Lord shall bring thee into Egypt again with ships, by the way whereof I spake unto thee, Thou shalt see it no more again: and there ye shall be sold unto your enemies for bondmen and bondwomen, and no man shall buy you.
52 And he shall besiege thee in all thy gates, until thy high and fenced walls come down, wherein thou trustedst, throughout all thy land: and he shall besiege thee in all thy gates throughout all thy land, which the Lord thy God hath given thee.
53 And thou shalt eat the fruit of thine own body, the flesh of thy sons and of thy daughters, which the Lord thy God hath given thee, in the siege, and in the straitness, wherewith thine enemies shall distress thee:
54 So that the man that is tender among you, and very delicate, his eye shall be evil toward his brother, and toward the wife of his bosom, and toward the remnant of his children which he shall leave:
55 So that he will not give to any of them of the flesh of his children whom he shall eat: because he hath nothing left him in the siege, and in the straitness, wherewith thine enemies shall distress thee in all thy gates.
56 The tender and delicate woman among you, which would not adventure to set the sole of her foot upon the ground for delicateness and tenderness, her eye shall be evil toward the husband of her bosom, and toward her son, and toward her daughter,
57 And toward her young one that cometh out from between her feet, and toward her children which she shall bear: for she shall eat them for want of all things secretly in the siege and straitness, wherewith thine enemy shall distress thee in thy gates.
58 If thou wilt not observe to do all the words of this law that are written in this book, that thou mayest fear this glorious and fearful name, The Lord Thy God;
59 Then the Lord will make thy plagues wonderful, and the plagues of thy seed, even great plagues, and of long continuance, and sore sicknesses, and of long continuance.
60 Moreover he will bring upon thee all the diseases of Egypt, which thou wast afraid of; and they shall cleave unto thee.
40 Thou shalt have olive trees throughout all thy coasts, but thou shalt not anoint thyself with the oil; for thine olive shall cast his fruit. 41 Thou shalt beget sons and daughters, but thou shalt not enjoy them; for they shall go into captivity. 42 All thy trees and fruit of thy land shall the locust consume. 43 The stranger that is within thee shall get up above thee very high; and thou shalt come down very low. 44 He shall lend to thee, and thou shalt not lend to him: he shall be the head, and thou shalt be the tail. 45 Moreover all these curses shall come upon thee, and shall pursue thee, and overtake thee, till thou be destroyed; because thou hearkenedst not unto the voice of the Lord thy God, to keep his commandments and his statutes which he commanded thee:
46 And they shall be upon thee for a sign and for a wonder, and upon thy seed for ever. 47 Because thou servedst not the Lord thy God with joyfulness, and with gladness of heart, for the abundance of all things;
48 Therefore shalt thou serve thine enemies which the Lord shall send against thee, in hunger, and in thirst, and in nakedness, and in want of all things: and he shall put a yoke of iron upon thy neck, until he have destroyed thee. 49 The Lord shall bring a nation against thee from far, from the end of the earth, as swift as the eagle flieth; a nation whose tongue thou shalt not understand; 50 A nation of fierce countenance, which shall not regard the person of the old, nor shew favour to the young: 51 And he shall eat the fruit of thy cattle, and the fruit of thy land, until thou be destroyed: which also shall not leave thee either corn, wine, or oil, or the increase of thy kine, or flocks of thy sheep, until he have destroyed thee.
29 And thou shalt grope at noonday, as the blind gropeth in darkness, and thou shalt not prosper in thy ways: and thou shalt be only oppressed and spoiled evermore, and no man shall save thee. 30 Thou shalt betroth a wife, and another man shall lie with her: thou shalt build an house, and thou shalt not dwell therein: thou shalt plant a vineyard, and shalt not gather the grapes thereof. 31 Thine ox shall be slain before thine eyes, and thou shalt not eat thereof: thine ass shall be violently taken away from before thy face, and shall not be restored to thee: thy sheep shall be given unto thine enemies, and thou shalt have none to rescue them. 32 Thy sons and thy daughters shall be given unto another people, and thine eyes shall look, and fail with longing for them all the day long; and there shall be no might in thine hand. 33 The fruit of thy land, and all thy labours, shall a nation which thou knowest not eat up; and thou shalt be only oppressed and crushed alway: 34 So that thou shalt be mad for the sight of thine eyes which thou shalt see. 35 The Lord shall smite thee in the knees, and in the legs, with a sore botch that cannot be healed, from the sole of thy foot unto the top of thy head. 36 The Lord shall bring thee, and thy king which thou shalt set over thee, unto a nation which neither thou nor thy fathers have known; and there shalt thou serve other gods, wood and stone. 37 And thou shalt become an astonishment, a proverb, and a byword, among all nations whither the Lord shall lead thee.
38 Thou shalt carry much seed out into the field, and shalt gather but little in; for the locust shall consume it.
39 Thou shalt plant vineyards, and dress them, but shalt neither drink of the wine, nor gather the grapes; for the worms shall eat them. 40 Thou shalt have olive trees throughout all thy coasts, but thou shalt not anoint thyself with the oil; for thine olive shall cast his fruit.
15 But it shall come to pass, if thou wilt not hearken unto the voice of the Lord thy God, to observe to do all his commandments and his statutes which I command thee this day; that all these curses shall come upon thee, and overtake thee:16 Cursed shalt thou be in the city, and cursed shalt thou be in the field.17 Cursed shall be thy basket and thy store.18 Cursed shall be the fruit of thy body, and the fruit of thy land, the increase of thy kine, and the flocks of thy sheep.19 Cursed shalt thou be when thou comest in, and cursed shalt thou be when thou goest out. 20 The Lord shall send upon thee cursing, vexation, and rebuke, in all that thou settest thine hand unto for to do, until thou be destroyed, and until thou perish quickly; because of the wickedness of thy doings, whereby thou hast forsaken me. 21 The Lord shall make the pestilence cleave unto thee, until he have consumed thee from off the land, whither thou goest to possess it. 22 The Lord shall smite thee with a consumption, and with a fever, and with an inflammation, and with an extreme burning, and with the sword, and with blasting, and with mildew; and they shall pursue thee until thou perish. 23 And thy heaven that is over thy head shall be brass, and the earth that is under thee shall be iron. 24 The Lord shall make the rain of thy land powder and dust: from heaven shall it come down upon thee, until thou be destroyed. 25 The Lord shall cause thee to be smitten before thine enemies: thou shalt go out one way against them, and flee seven ways before them: and shalt be removed into all the kingdoms of the earth. 26 And thy carcase shall be meat unto all fowls of the air, and unto the beasts of the earth, and no man shall fray them away. 27 The Lord will smite thee with the botch of Egypt, and with the emerods, and with the scab, and with the itch, whereof thou canst not be healed. 28 The Lord shall smite thee with madness, and blindness, and astonishment of of heart:
he keeps spouting off his mouth like that and someone will shut it for him.