It is time that notaries who are notarizing fraudulent documents that allow foreclosures to proceed, be prosecuted. It is time to resolve these banks and kick these banksters out and not allow them to ever do banking in the US again.
Now I know why people want to allow all homeowners to refinance. It is because they know that the banksters have documents that are faulty or may not even have the mortgage iou note at all
, and that these document issues grind the foreclosure process to a halt.
From Ellen Brown's article linked below:
"Denninger explains that mortgages are pooled into REMIC Trusts as a tax avoidance measure, and that to qualify, the properties must be properly conveyed to the trustee of the REMIC in the year the MBS is set up, with all the paperwork necessary to show a complete chain of title. For some reason, however, that was not done; and there is no legitimate way to create those conveyances now, because the time limit allowed under the Tax Code has passed."
So, why would banksters not want to convey the loans to the trustees of the MBS securities? Ellen Brown shows the astonishing reason. The banksters didn't want investors to find out about the crap loans they were ploughing into the MBS's. Rico anyone? From her article, link below:
"The question is, why weren’t they done properly in the first place? Was it just haste and sloppiness as alleged? Or was there some reason that these mortgages could NOT be assigned when the MBS were formed?
Denninger argues that it would not have been difficult to do it right from the beginning. His theory is that documents were “lost” to avoid an audit, which would have revealed to investors that they had been sold a bill of goods -- a package of toxic subprime loans very prone to default."
So then, we have fake MBS securities here, and any purchasers of these should be able to sue and recover from the investment banksters. So, there should be Rico criminal prosecutions as well.
This new plan on Fox Business News, of wanting all homeowners to be able to refinance, and for banks to gain government bailouts yet again, is all about saving the banks. It is time that we not allow these shenanigans, but rather pull out the Rico Laws and go after these patterns of fraud. The notaries being prosecuted should end up with Dimon and these other CEO's being prosecuted and if found guilty, the key being thrown away at lockup. It is time for Rico Laws to apply to these banks. The MBS securities were bogus.
And Tea Party, do you still believe the subprime madness was the fault of the borrowers instead of the lenders, or the investment banksters? Give me a break!
Mr Obama, it is time for JUSTICE!Bankster Foreclosure LinkBankster Foreclosure LinkBankster Foreclosure LinkBankster Foreclosure LinkBankster Foreclosure LinkBankster Foreclosure LinkMy Article on Securitization and Basel 3 Going ForwardMy Article on Foreclosuregate and Judges/UCCArchive Link