Foreclosure Fraud? Obama Looks Forward

FDIC Called On to Put Bank of America Into Receivership

KEY: “The banks that are foreclosing on fraudulently originated mortgages frequently cannot produce legitimate documents. . . .   Now, only fraud will let them take the homes.  Many of the required documents do not exist, and those that do exist would provide proof of the fraud that was involved in loan origination, securitization, and marketing.”

It’s the ENRON Dominoes: They need to repossess – in order to cover the Total Fraud – and to keep the Fraudulent Cycle/Accounting going.

Foreclose on the Foreclosure Frauds?
(No Chance with President Obama.)

“HUD reviewed the ‘paperwork’ problem to see whether it threatened the banks – not the homeowners who were the victims of foreclosure fraud.”  “[T]he Justice Department has not convicted a single senior officer of the large nonprime lenders who directed, committed, and profited enormously from the frauds.”  “Note the language: ‘mistakes,’ ‘errors,’ ‘processes’ (following the initial use of ‘paperwork’).  No mention of ‘fraud,’ ‘felony,’ ‘criminal investigations,’ or ‘prosecutions’ for the tens of thousands of felonies that representatives of the entities foreclosing on homes have admitted that they committed.”

In short/general: What about War Crimes, torture, and worldwide fraud as perpetuated from the Oval Office?  [T]he administration is focused on ensuring future compliance, rather than on looking back.”

But, aside from particular invasions, the torture (like the other War Crimes) was purposely directed and authorized under manipulated veils – documented memos written after-the-fact, for example – as a means to achieve political goals.  Remember the Nuremberg Principles?  “[W]e have not found any evidence at this point of systemic issues in the underlying legal or other documents that have been reviewed.”

There is a volume of undeniable proof!  How could you be so acquiescent?  Don’t you understand that these repercussions will reverberate throughout history – that others will take the abuses as a model?  “When the word ‘systematic’ or ‘systemic’ is used in this context, [we are] not saying that there couldn’t be significant real problems that affect real people in a very, very real way.”

Aside from the utter lunacy and hypocrisy of those responses (which, again, undoubtedly leave us open to escalating future ramifications), will you at least do something to counter the resulting fascist state of our economy?  “This is not a problem for [us] to fix.  This is a problem for the banks and servicers to fix.  They can fix it as fast as they feel like it.”

Too Pig to Jail? Exactly.

Update (2012):And instead of really, at the heart of this, being about accountability and punishment it seems like frankly a political whitewash during an election year.  So it makes the Department of Justice look good.  It makes the attorneys general look good.  The banks are happy because they are going to get all the credit for this settlement while receiving money from the taxpayers.  Really the only big losers are the taxpayers and, of course, the homeowners.”

(“It wasn’t just one individual or two or three individuals, it was branches of individuals, it was regions of individuals.”)

Individual Mandates Bootstrap the Homeless

Obama Put Social Security On The Table

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16 Responses to Foreclosure Fraud? Obama Looks Forward

  1. seaclearly says:

    Re: Familiar GOP Plan Lives: Cutting Social Security to ‘Save It’
    http://www.washingtonpost.com/wp-dyn/content/article/2010/10/20/AR2010102005862.html

    The Deficit Commission, which was never “bipartisan” in goals, “due to issue a report Dec. 1″ ( as a means of bypassing more repercussions of the midterm elections), was “appointed by President Obama.” Remember this, when all the shockwaves and resulting commentaries on the outrages arrive on Dec. 2. Remember this, while reflecting on the following response to a cry for a foreclosure moratorium (50 state attorneys general involved) due to revelations of institutionalized (ENRON) Fraud: “This is not a problem for [us] to fix. This is a problem for the banks and servicers to fix. They can fix it as fast as they feel like it.” Remember this, as our president campaigns against extremist republicans with criticisms of their “Snake Oil Ideas.” Bottom Line: Obama Put Social Security On The Table http://wp.me/phRi4-vn
    And that, once again, reflects his true nature.

  2. seaclearly says:

    Homeowners Get the Boot For Bad Paperwork While Banks Get Millions
    http://www.huffingtonpost.com/2010/10/29/money-first-questions-later_n_776135.html

    “The contradiction highlights what many critics of the past two administrations’ policies have claimed for some time: they exert overwhelming force when it comes to saving financial institutions, but merely modest assistance when it comes to distressed homeowners.”

  3. seaclearly says:

    Let’s Set the Record Straight on Bank of America: Open the Books!
    http://www.huffingtonpost.com/william-k-black/yes-lets-set-the-record-s_b_779031.html

    Faith Groups Press Geithner On Foreclosures
    http://www.huffingtonpost.com/2010/11/04/faith-groups-press-geithn_n_779218.html

    Timothy Geithner: “expressed that there is nothing more that they can do to compel the banks.”

  4. SeaClearly says:

    Obama Wants NY AG Schneiderman to Back Off Banks:
    http://www.commondreams.org/headline/2011/08/22-5

  5. SeaClearly says:

    NY Attorney General’s Dismissal Has “Big Banks’ Dirty Fingerprints All Over It”

    http://www.accuracy.org/release/ny-attorney-generals-dismissal-has-big-banks-dirty-fingerprints-all-over-it/

  6. SeaClearly says:

    New Obama Foreclosure Plan Helps Banks At Taxpayers’ Expense
    http://www.commondreams.org/headline/2011/10/24-12

  7. SeaClearly says:

    Re: MoveOn.org’s petition: Investigate Wall Street Bank Fraud

    Your petition is crucially and seriously lacking. The president has stated openly that, as far as he is concerned, they “broke no laws.” So, rampant, institutionalized fraud, nationwide robo-signing, and worldwide Enronesque activities were only basic free market workings? Further, the “sweetheart deal that would have given broad immunity to the banks” was, and is, wholly supported and promoted by President Obama’s White House. And, Obama’s team are directly opposed to/putting extreme pressure on any Attorney General who rejects the deal/wants an investigation. As a result, your “petition calling on the president to order a full federal investigation” should, in the least, make this context more clear. Without the latter, and only including language like “This is something the president can do on his own right now, without fighting Congress,” it serves to provide cover and obfuscation — as opposed to direct clarity.

    See http://www.commondreams.org/view/2012/01/14-2
    It is an example of of bold truth — as opposed to purposeful vagueness.

  8. SeaClearly says:

    Mortgage Settlement ‘Whitewash’: US Taxpayers Will Pay for Big Bank Settlement http://www.commondreams.org/headline/2012/02/17-0

    “Well I think what it does is it shows that the true intent of the settlement may differ from that which we were told during all the various press conferences. And instead of really, at the heart of this, being about accountability and punishment it seems like frankly a political whitewash during an election year. So it makes the Department of Justice look good. It makes the attorneys general look good. The banks are happy because they are going to get all the credit for this settlement while receiving money from the taxpayers. Really the only big losers are the taxpayers and, of course, the homeowners.”

  9. SeaClearly says:

    “From what I saw, the types of things I saw, it was, it appeared systemic.” “It wasn’t just one individual or two or three individuals, it was branches of individuals, it was regions of individuals.” http://www.huffingtonpost.com/2011/12/05/countrywide-whistleblower-mortgage-fraud-systemic_n_1129637.html

  10. SeaClearly says:

    Wells Fargo Has Blood on Its Hands: Desperate Man Commits Suicide http://www.alternet.org/module/printversion/155442

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