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Count Olaf Donating Member (256 posts) Send PM | Profile | Ignore Wed Oct-13-10 10:27 AM
Original message
Unbefreakinglievable: Industrywide scheme designed to steal homes!
"The mortgage servicers hired people who would never question authority," said Peter Ticktin, a Deerfield Beach lawyer who is defending 3,000 homeowners in foreclosure cases. Ticktin gathered 150 depositions from bank employees who say they signed foreclosure affidavits without reviewing the documents or ever laying eyes on them — earning them the name "robo-signers."

The deposed employees worked for the mortgage service divisions of banks such as Bank of America and JPMorgan Chase, as well as for mortgage servicers like Litton Loan Servicing, a division of Goldman Sachs.

Ticktin said he would make the testimony available to state and federal agencies that are investigating allegations of possible mortgage fraud. "This was an industrywide scheme designed to defraud homeowners," Ticktin said.

In one deposition, a foreclosure supervisor with Litton Loan couldn't define basic terms and testified that she didn't know what the required conditions were for a bank to foreclose or who the holder of the mortgage note was. "I don't know the ins and outs of the loan; I just sign documents," she said at one point.

http://www.tampabay.com/news/business/realestate/foreclosure-robo-singers-testify-they-had-little-financial-know-how/1127777
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Skink Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 10:40 AM
Response to Original message
1. Clear cutting.
a naked land grab.:kick:
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Count Olaf Donating Member (256 posts) Send PM | Profile | Ignore Wed Oct-13-10 10:51 AM
Response to Original message
2. I imagine certain people have an interest in keeping this story buried
I don't have a TV antenna, is this story being reported on?
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TreasonousBastard Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 10:59 AM
Response to Reply #2
4. It's been all over the place. You got a radio and a magazine rack in town?
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Count Olaf Donating Member (256 posts) Send PM | Profile | Ignore Wed Oct-13-10 11:05 AM
Response to Reply #4
6. this story? It just came out.
These recent revelations are in the magazines already?
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TreasonousBastard Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 11:16 AM
Response to Reply #6
9. Well...
TV, but a few weeks ago:
http://www.cbsnews.com/video/watch/?id=6916359n

The Times isn't a magazine, although it has one, but this is a day older:
http://www.nytimes.com/2010/09/30/business/30mortgage.html?scp=8&sq=robo-signers&st=cse

I've heard stuff about it on NPR, and while maybe not called "robo-signers" I seem to remember hearing about sloppy standards for foreclosures at least a year ago.

I'm imagine some magazines must have mentioned it.

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SugarShack Donating Member (979 posts) Send PM | Profile | Ignore Wed Oct-13-10 06:57 PM
Response to Reply #2
27. Flyarm was posting about all of this ...look up Flyarms Journal!
She did most of the research on this that I see on DU...
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Ozymanithrax Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 10:55 AM
Response to Original message
3. Falsification of a legal document is a felony...
If anyone cares, a lot of people could go to jail for this.
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Count Olaf Donating Member (256 posts) Send PM | Profile | Ignore Wed Oct-13-10 11:02 AM
Response to Reply #3
5. Jail is only the beginning
I want them to give everyone their homes back- paid free and clear.

All other assets of these companies are returned to the US government to pay down the debt.
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Ozymanithrax Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 11:16 AM
Response to Reply #5
8. How do you fund that?
What about those of us that haven't had problems with our mortgage? Why should those people have their houses paid in full by other tax paying citizens? I can see stopping their homes from being taken until the paperwork has been cleared, but I don't agree with giving them their homes. We are not going to give millions of Americans who through sacrifice are not about to have their houses taken. We are not going to give renters ownership of their apartments.

How do you go about returning the assets of these companies to the government that had not claim on their assets?

These banks and mortgage companies are a good chunk of the American Economy. We crash them, we crash the economy much harder than happened in 2008.
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Count Olaf Donating Member (256 posts) Send PM | Profile | Ignore Wed Oct-13-10 11:24 AM
Response to Reply #8
11. millions of foreclosed homes, millions of homeless children- these fuckers should pay big time!
Edited on Wed Oct-13-10 11:27 AM by Count Olaf
Companies that blatantly illegally screw over the American people should have their business license revoked and the money they have made stealing from the American people should be returned to the American people.

I think it would be quite a boost to the economy if everyone had their homes paid for, they would have plenty more cash to support our new service economy and buy crap from china.
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Ozymanithrax Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 11:38 AM
Response to Reply #11
12. But how do you pay for it?
Edited on Wed Oct-13-10 11:39 AM by Ozymanithrax
I don't think it is legal possibly not Constitutional to take away property held by one group, banks, and give it to others. The only comparible act was when the U.S. nationalized the Railroads in WWI. These homes still need to be paid for, and the only source would be our budget. Who should we borrow several trillilon dollars from to do this? It may be a boon to mortgage owners, but by destroying the banks, you shatter the U.S. economy. Our system doesn't run without banks, no modern nation runs without banks. In 2008, the system almost froze up, and we are still dealing with the fallout.

I agree that the people involved need to be charged and, if convicted, sent to jail. But giving people title to homes that they owe someone for, even if the mortgage mess means it is dificult to know who they owe, isn't right either. Figure out who they owe money to and require that their mortgages are set to no more than the current worth of the home, then set up terms that they can pay, and if unemployed, freeze their payments until they return to employment.
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Count Olaf Donating Member (256 posts) Send PM | Profile | Ignore Wed Oct-13-10 12:16 PM
Response to Reply #12
14. The banks stole the homes, the people take them back
Some of these stories, the people had their homes almost paid off and they took it. People have been evicted who didn't even have a mortgage. Why would the American people have to pay the banks back for the homes they stole?

These banks are evil. They should be shut down. There must be some decent small banks that are not illegally stealing people's homes that can take over.

I'm not worried that holding the banks accountable will shatter the economy, the banks themselves have already shattered the economy.
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Ozymanithrax Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 02:53 PM
Response to Reply #14
18. Things in life are not free...debts are owed.
It is a fact of our current economic climate that people have lost their homes due to unemployment or underemployment. This is true in all recessions.

But the debt doesn't go away.

A lot of these mortgages were bought as bonds by pension managers. So those pensions will just be reduced, or perhaps worthless, which means that other people unrelated to those mortgage owners loose their pensions. Banks in foreign nations hold these debts as part of bonds they purchased, so we risk wiping out banks in other countries, which raises international problems.

Nothing happens in a vacuum. It is all connected to something else.

Banks are not evil, they are not alive, if anything they are amoral. They are a financial entity created to handle money. They are absolutely necessary to the functioning of our economy. The few small banks that were not gobbled up in the modern financial system can barley handle the banking needs of their small communities. Back in 2009, Anderson Cooper did a story on a small bank in Fargo ND that did not have problems. They are a small community bank that remained solvent, but they could not handle the banking needs for even the state of ND.

The mess now is directly related to the banking crises in 2008. Under Bush's ownership initiative, the government quit regulating banks and pretty much stopped oversight. The laws these companies broke are quite clear, because there are laws and regulations that cover what must be done when houses are bought, sold, or repossessed. For convenience, speed, money, and because they were no longer watched, they ignored them. They should go to jail. Congress will need to step in, but won't because, at best, Republicans will continue to hamstring the government. If we don't handle this, it is quite possible to collapse the economy for a second time.
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Hannah Bell Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 03:37 PM
Response to Reply #18
23. no, fraudulent debt isn't owed.
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Ozymanithrax Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 10:59 AM
Response to Reply #23
52. The debt people owe on most of these houses isn't fraudulent...
They actually owe money to their creditors that they borrowed to buy those houses, and most of them have fallen behind on their payments, which leads to foreclosure. The foreclosure method used by the banks is fraudulent in that they do not follow legal procedures.
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Heywood J Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 05:31 AM
Response to Reply #12
40. It is now.
I don't think it is legal possibly not Constitutional to take away property held by one group, banks, and give it to others.

http://en.wikipedia.org/wiki/Kelo_v._City_of_New_London

States have set limits on how the process can operate, but it was ruled constitutional.
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axollot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 10:20 AM
Response to Reply #12
47. Seriously? It's paid for in the same manner one pays for any injury
Injured party, however they were injured - in these cases throwing someone out of their home illegally is injuring them and once that comes to light the person can sue for up to the amount of the foreclosed home PLUS in some cases.

That's how it's paid for...

Cheers
Sandy
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CreekDog Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 07:10 PM
Response to Reply #8
29. they are crashing themselves
their legal vulnerabilities which could bankrupt them (yet again and yet again by their own doing) are not something that they should be able to escape.

people whom their negligence have wronged have valid claims against them and those claims are legit even if they bankrupt an industry.

the industry in the wake of massive irresponsibility decided to do something incredibly irresponsible to deal with their past mistakes.

stop protecting them.
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csziggy Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 10:37 PM
Response to Reply #8
36. I thought the point was that the banks and mortgage companies sold the mortgages
To the speculators who traded the combined mortgage instruments among themselves. In the process, the actual mortgage documents were lost, misplaced or destroyed. The reason that the program that Obama set up for people to renegotiate their mortgages failed but no one really had the authority or any incentive to do it. In fact as far as I can see, they had every reason NOT to renegotiate since that could bring to light the fraud.

And weren't these "valueless properties" the toxic assets that the TARP program was originally supposed to purchase? No wonder the banks avoided that - they would have been providing the federal government with evidence of this massive fraud.

I say, if the financial companies can prove who actually owns the mortgages and provide the documentation to prove it, they can collect on the mortgage. Otherwise, they have no claim on payments or properties. But first, they should have to pay the state and local governments the transfer fees that are supposed to be paid on every mortgage transaction. No wonder local governments came out so low on funds despite the real estate boom - they were defrauded of an unknown amount of money!
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Ticonderoga Donating Member (489 posts) Send PM | Profile | Ignore Thu Oct-14-10 10:53 AM
Response to Reply #8
51. Let's refer to it as "Punitive Damages"
for being VICTIMS of fraud perpetrated by the Banksters. That was easy.
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SugarShack Donating Member (979 posts) Send PM | Profile | Ignore Wed Oct-13-10 07:05 PM
Response to Reply #5
28. This was collusion among the corporate banks and wall street gang..almost like a ponzi scheme to
Edited on Wed Oct-13-10 07:06 PM by SugarShack
de- fraud homeowners all over this country.

This scheme makes Bernie Madoff look like an angel!

:nuke:

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Count Olaf Donating Member (256 posts) Send PM | Profile | Ignore Wed Oct-13-10 11:11 AM
Response to Reply #3
7. and it is systemic
they will try to blame these grunts but who gave the orders? When and where did a meeting take place where these rich bastards got together to plan this?
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Ozymanithrax Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 11:19 AM
Response to Reply #7
10. The people who knew about this system, and were in charge,..
should be charged for a massive conspiracy to falsify documents. They set up a pattern of bussiness that violated the law.

But this must go hand in hand with regulation of the industry and oversight.
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damntexdem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 12:08 PM
Response to Original message
13. No, what's unbelievable will be if no one goes to jail for such widespread fraud.
But we're becoming used to seeing the unbelievably bad in this country.
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Count Olaf Donating Member (256 posts) Send PM | Profile | Ignore Wed Oct-13-10 12:19 PM
Response to Reply #13
15. yes, is the news covering this and talking about accountability?
The millions of new homeless (former homeowners) are probably pretty busy trying to survive and get their lives together , so it is up to US to fight for them.
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earth mom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 02:33 PM
Response to Original message
16. The bansters are making money on stealing peoples homes! Someone posted this info in a thread
and I can't find it now!

Anyone else have it?

:argh:
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SugarShack Donating Member (979 posts) Send PM | Profile | Ignore Wed Oct-13-10 07:15 PM
Response to Reply #16
30. Here it is EarthMom! Flyarm posted it all and I found it!
Don't want to skirt the posting rules, so you can get the rest at Flyarms journal! Here is much of it....

Edited on Sun Oct-10-10 08:38 PM by flyarm
American people ..and we will sanction it..after bailing your asses out with the American peoples money!

Unfeckingbelievable is all I can say..........other than cuss my brains out..what other can be said?????????

Blow me over with a feather?? ah shucks??

or no damn surprise whatsoever!

Perhaps if people would READ the fraud that took place they might understand what the fraud is!

here >>>>>>>>>>>>>>>>>


I have put much of it together so you can understand what has gone on ..this has been fraud of the highest accord perpetrated on the American people!

Read it all............ go to the links..know what the fuck we are up against and how our congress tried to fuck us the rest of the way..by covering up the crimes of the too big to fail banks and crooks who are destroying this nation and her middle class!

wake... up ... America ! You have been fucked!

What the banks have done is so illegal and so against all our laws..and our congress was attempting to make their crimes legal..to fuck you!

and they still are!!!!!!!!!!!

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


No one knows or can know how many in congress and the senate voted for this bill

It was a roll call vote with no recording of who did or didn't vote for it!

*this was in the comment section of the article by : by Jennifer Brunner

It is a must to read although now almost a week old..to understand what has gone down here..it is a must read!

http://www.dailykos.com/story/2010/10/5/907016/-Preside ...

President Obama Should Not Sign the Interstate Recognition of Notarizations Act

by :Jennifer Brunner
Tue Oct 05, 2010 at 03:31:19 PM PDT

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


Passed by Unanimous Consent - record was not kept


H.R. 3808

Rep. Robert Aderholt sponsored the bill and the cosponsors were: Bruce Braley , Michael Castle , and Artur Davis

Apr 27, 2010: This bill passed in the House of Representatives by voice vote. A record of each representative’s position was not kept.

Sep 27, 2010: This bill passed in the Senate by Unanimous Consent. A record of each senator’s position was not kept.


THE BILL WAS SENT TO OBAMA IN SEPT TO SIGN INTO LAW. OBAMA DID NOT SIGN IT. At the time the Bill was sent to Obama a couple states had begun RICO lawsuits on the Banks and begun investigations.

We do not know who voted for this bill to cover this up and attempt to make this fraud legal, because this congress would not record who voted for this piece of shit bill!

But one thing is for sure..Patrick Leahy was involved in this bill going forward.


Bill may make it harder to contest foreclosures - Business - ...
Story: Foreclosures seen slowing as document flaws emerge ... Judiciary Committee Chairman Patrick Leahy pressed to have the bill rushed through the special ...

www.msnbc.msn.com/id/39556377/ns/business-real_estate - Similar
Senate Shockingly Passes Bill That Could Bail The Banks Out Of ...
Oct 7, 2010 ... phoenix foreclosure The hottest story right now in the banking industry ... Committee Chairman Patrick Leahy pressed to have the bill rushed ...

www.businessinsider.com/bank-foreclosure-bill-leahy-2..... - Similar
Think Progress » Obama To Veto 'Robo-Foreclosure' Bill
Oct 7, 2010 ... 43 Responses to “Obama To Veto 'Robo-Foreclosure' Bill” .... We must call, write , and otherwise pester Patrick Leahy and Bob Casey until ...

thinkprogress.org/2010/10/07/obama-vetos-banks/ - Similar
Obama Pulls a Pocket Veto on Foreclosure Bill - Truthdig
Oct 7, 2010 ... TAGS: bill foreclosure mortgage notary obama pelosi pocket veto subprime ... unanimous consent, Patrick Leahy D VT., the same one who is ...

www.truthdig.com/eartotheground/item/obama_pulls_a_po..... - Similar
How The Controversial Foreclosure Bill Made It Through ...
Oct 7, 2010 ... How The Controversial Foreclosure Bill Made It Through Congress ... This will search the titles of the threads in the Patrick Leahy forum ...


xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Exclusive Bombshell of Foreclosure Fraud – Full Deposition of TAMMIE LOU KAPUSTA
Edited on Sat Oct-09-10 02:08 PM by flyarm
Exclusive Bombshell of Foreclosure Fraud – Full Deposition of TAMMIE LOU KAPUSTA Law Office of David J Stern


http://4closurefraud.org/2010/10/07/exclusive-bombshell ... /

“I personally did not do it because I refused to do it.”
“I wasn’t going to falsify a military document.”
“I was told that that’s fine, somebody else on your team will do it.”

Posted by Foreclosure Fraud on October 7, 2010


***be sure to read this part of the deposition ..and understand what was going on illegally with our military personal's social security numbers to gain documennts on other military people!

......................................................................

PAY ATTENTION TO THIS SECTION!!

They
23 would be stamped and signed by a notary or not. Per
24 floor we had a designated spot to place them and Cheryl
25 would come once a day and sign them.
22
1 Q Sign them as what?
2 A As –
3 Q For the bank?
4 A Correct.
5 Q Or for MERS or whoever it was for?
6 A Correct.
7 Q Would these notaries be there watching her as
8 she signed?
9 A No.
10 Q She would just sit there and sign stacks of
11 them?
12 A Correct. As far as notaries go in the firm I
13 don’t think any notary actually used their own notary
14 stamp. The team used them.
15 Q There were just stamps around?
16 A Yes.
17 Q And you actually saw that?
18 A I was part of that.
19 Q You did it? Are you a notary?
20 A No, I’m not.
21 Q Did you sign as a witness?
22 A I did not. I signed as a witness on one
23 document and after that I decided that I didn’t want to
24 put my name as a witness anymore.
25 Q Tell me about the stamps. You stamped them?
23
1 A Yeah, I had stamps. Each team had a notary on
2 them or notaries that I was aware of. Whether they were
3 or weren’t wasn’t –
4 Q You had stamps?
5 A Correct. We would stamp them and they would
6 get signed.
7 Q Stamp them in blanks?
8 A Yes.
9 Q Who would sign them?
10 A Other people on the team that could sign the
11 signature of the person or just a check on there or
12 whatever.
13 Q Was that common practice?
14 A Yes.
15 Q Was that standard practice?
16 A Pretty much.
17 Q What about the witnesses?
18 A Those would be signed by juniors who were –
19 Q Standing there?
20 A Here, sign this. It has to go to Cheryl, sign
21 it. Then it would go and sit at the desk where Cheryl
22 would sign everything.
23 Q Out of view of the notary and out of view of
24 the witnesses?
25 A Correct.
....
9 A There were people that were responsible for
10 signing Cheryl’s name. Cheryl, Tammie Sweat, and Beth
11 Cerni. Those were the only three people that could sign
12 Cheryl’s name. If you ever look at assignments you’ll
13 see that they are not all the same.
....
1 Q What do you mean falsify a military document?
2 A Well, I’m using the main defendant’s social
3 security number on somebody else’s name, not his name.
4 John Doe and the main defendant was James, I was taking
5 James’ social security number and putting John Doe’s
6 name in there. I wasn’t but that’s what the practice
7 was. The judges started saying we’re not going to
8 consider service completed until –
9 Q There’s a miliary search?
10 A Correct.
11 Q So why wouldn’t they use the right social
12 security number for the right person?
13 A Because you don’t have a social for an NKA or
14 unknown tenant. They wouldn’t enter a final judgement
15 unless the military doc was there.
16 Q So you just used anybody’s?
17 A Correct.



..........................

wonder how many Vets this was used on??
Or perhaps some military with info on illegal activity ..in say >>>IRAQ? or AFGHANISTAN...WHO COULD HAVE BEEN OR COULD BE IN THE FUTURE.. threatened with this????????? Think of the implications of this and the possiblity of the abuse of this against our military??????????? lIKE SAY ENLISTED MILITARY ..WHO COULD NOW LOSE THEIR HOMES IF THEY TOLD WHAT THEY SAW THAT WAS ILLEGAL..OR SAW WAR CRIMES THEY WITNESSED..the ramifications and implications of this could be devistating !


xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


Boiler Rooms, Foreclosure Mills: The Story of America’s Mortgage Industry Boiler Rooms, Foreclosure Mills: The Story of America’s Mortgage Industry
By Michael Hudson | October 7, 2010, 12:33 pm

http://www.publicintegrity.org/blog/entry/2507 /

Updated: 10/7/2010, 3:33 pm | The news about the nation’s foreclosure scandal has been coming fast and furious, driven by tales of backdated documents, false affidavits and “rocket dockets” that push families into the street.

A former employee with one of the nation’s largest lenders testifies that he signed off on 400 foreclosure documents a day without reading them or verifying the information in them was correct.

Ex-employees of a law firm that serves as a “foreclosure mill” for major lenders describe a workplace where speed — not accuracy or justice — trumps all. “Somebody would get a 76-day foreclosure,” one recalled, “and then someone else would say, ‘Oh, I can beat that!’”

Shocking stuff. But surprising? Not for anyone who’s been tracking the recent history of the mortgage machine. Just about every corner of the America’s mortgage industry has been blemished by significant levels of fraud over the past decade.

(read more at the link)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Shi$ Hitting Fan: Tavakoli - Biggest Fraud In The History Of Capital Markets
by Badabing
Fri Oct 08, 2010 at 05:30:39 PM PDT

...As the Foreclosure Mill thugs working for the Banks and Lenders began in earnest to provide false affidavits and have swept throughout American cities like a crazed mass of locusts, picking of the bones of innocent Americans who knew without a doubt, that they were being illegally foreclosed upon, the critical mass of corruption finally reached it's zenith, just as so many of these great leaders warned us about.

I find it absolutely incomprehensible that Timothy Geithner and Ben Bernanke and AG Holder have sat back in silence while these bunch of 'hoodlums' have been allowed to strip Americans of their legal rights to pursue what used to be called 'due process' in our nation's courts, to demand that the Banks and Lenders provide correct origination documentation of the original loans on their homes.

Janet Tavakoli is now saying that every bank is about to shut down all foreclosures, in what she calls the "biggest fraud in the history of capital markets. She is also stating that within a month, all foreclosures executed within the past 2-3 years will be retried, and millions of existing home sales will be put in jeopardy.

What this essentially will mean for what is left of the national housing market is a nightmare, beyond our wildest dreams. We are only beginning to see the final Iceberg coming into view, that could very well finally destroy all homes values, and credibility in our entire Banking system, the could finally go over the cliff, because of their own greed and malfeasance.

MUCH MORE AT: http://www.dailykos.com/story/2010/10/8/908857/-Shi$-Hi ...


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Enthusiast Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 07:07 AM
Response to Reply #30
42. Plus one....nt
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aikoaiko Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 02:36 PM
Response to Original message
17. "I don't know the ins and outs of the loan; I just sign documents," - there's $ to be made that way

sad but true.
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and-justice-for-all Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 03:12 PM
Response to Reply #17
20. I was fortunate to not have done that....
Every turn of a page I would ask "What is this?" "What is this for?" "This is a fixed rate mortgage correct?" It was maddening for them.
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aikoaiko Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 04:41 PM
Response to Reply #20
25. Yes, I'm sure it was.


I remember when I was kid and a neighbor up the street from me was a VP for Merrill Lynch and did quite well. There was a scandal (this was in the 1980s) and my neighbor was fired. I asked my father why he was fired and he responded because he would sign anything and be the fall for for his bosses.

My neighbor made a lot of money in the 1980s. I think his income was cut down to 6 figures after the scandal.


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and-justice-for-all Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 03:10 PM
Response to Original message
19. PNC mortgage will not help me at all...
I have been trying to get in on one of the Government programs that are available. I have tried three times now, and they find some petty excuse (every single time a different reason) why I was not accepted in to ANY of those programs. I have been unemployed since last October, so my income has changed dramatically.

a few months ago I sent letters to my reps expressing my concern over PNC's unwillingness to get me in to a Government mortgage program. One rep requested an additional document, which I took to their office, and while I was there they had PNC on the phone. I think I may file bankruptcy and then turn around an sue the mortgage company, I have kept every single document and communication from PNC.

But the the result was the same, PNC would rather we default on our mortgages then to help keep people in their homes.
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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 03:26 PM
Response to Original message
21. Let's be honest about the situation.
Our country is collapsing. Our economy is completely wrecked. Our government got into bed with the banking industry, but it turns out the banking industry had a raging case of syphilis and now it isn't just the banks who are in serious danger, it's our entire political and economic system.
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DirkGently Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 03:35 PM
Response to Reply #21
22. Yep. "Too big to fail" already did.
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KansDem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 09:51 AM
Response to Reply #21
45. I love your description!
Particularly this statement:

...Our government got into bed with the banking industry, but it turns out the banking industry had a raging case of syphilis...

That about sums it up! Our government had "unprotected" (ie, unregulated) "sex" (ie, cooperation) with the sleazy bankers and now we're all "infected."
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DeSwiss Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 10:40 AM
Response to Reply #21
48. +1
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txlibdem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 03:46 PM
Response to Original message
24. I've had about enough of these wealthy thieves! Anyone else?
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librechik Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 04:45 PM
Response to Original message
26. I wanna hear some of this robo singing. I love electronic music.
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Count Olaf Donating Member (256 posts) Send PM | Profile | Ignore Wed Oct-13-10 08:10 PM
Response to Original message
31. CEO arrested and corporation held liable
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Scruffy1 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 08:20 AM
Response to Reply #31
44. I've been waiting for that headline for fifty years.
It either hasn't happened or I missed it.
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SugarShack Donating Member (979 posts) Send PM | Profile | Ignore Wed Oct-13-10 10:01 PM
Response to Original message
32. Here is another good news article - Robo-signers: Mortgage experience not necessary
Edited on Wed Oct-13-10 10:01 PM by SugarShack
Banks hired hair stylists, teens to process foreclosure documents, workers' testimony shows
ap
Michelle Conlin, AP Real Estate Writer, On Tuesday October 12, 2010, 9:21 pm EDT

NEW YORK (AP) -- In an effort to rush through thousands of home foreclosures since 2007, financial institutions and their mortgage servicing departments hired hair stylists, Walmart floor workers and people who had worked on assembly lines and installed them in "foreclosure expert" jobs with no formal training, a Florida lawyer says.

http://finance.yahoo.com/news/Robosigners-Mortgage-apf-382327091.html?x=0&sec=topStories&pos=main&asset=&ccode=
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axollot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 10:43 AM
Response to Reply #32
50. Yep. 10-12 dollar an hour paper pushers that wont ask questions and
don't know Law. These kids will be the ones to go to jail and take the blame. Like Abu Ghraib where the pictured soldiers were held accountable but the policy makers were not.

Cheers
Sandy
in Flori-hell.
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SugarShack Donating Member (979 posts) Send PM | Profile | Ignore Wed Oct-13-10 10:03 PM
Response to Original message
33. BOMBSHELL- New Subpoenas Issued by Florida Attorney General to Lender Processing Services and Docx,
Matt Weidner Blog


BOMBSHELL- New Subpoenas Issued by Florida Attorney General to Lender Processing Services and Docx, LLC
October 13th, 2010 · No Comments · Foreclosure

"The developments continue to roll out. To those that wonder just how big this crisis is…look carefully at the subpoenas that have just been released. No one can yet comprehend just how deep this goes…."

http://mattweidnerlaw.com/blog/2010/10/bombshell-new-subpoenas-issued-by-florida-attorney-general-to-lender-processing-services-and-docx-llc/

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axollot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 11:00 AM
Response to Reply #33
53. Thanks. Pretty sure that's the company my friend works for here in the Jacksonville FL..
He believes the company line - been telling him since he first started to pay attention. When he told me he pulled documents for banks to prove ownership of the property and I said "you've seen titles" and of course he said no....(I've studied law he did medical/computer).
It's a bummer. My friend is intelligent, with 2 degrees both in areas flooded and he's sitting in this pile of crap.
*sigh* I hope he is paying attention like I've asked and can undo some of the hell he helped wrought (unwittingly, he's a 12hr schlep) by testifying against the company if he has information.

Cheers
Sandy
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Scurrilous Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 10:14 PM
Response to Original message
34. Kick
:kick:
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femrap Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 10:26 PM
Response to Original message
35. I've noticed one thing....
these blood suckers always put a woman, Black or Hispanic in the position that goes to jail.
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Rex Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 10:50 PM
Response to Original message
37. Hey look! Three of the biggest criminal corporations ever!
They took Enrons business model and made it apply to the whole world! JPChase seems to be slightly in the lead for mass criminal activity. Hope the local PD can handle locking up an organzation of that magnitude. What? They don't lock up busniesses? Just give them billions of taxpayer money? Oh, whoops, my mistake.
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spin Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 11:28 PM
Response to Original message
38. I wonder what the founding fathers would have said. (n/t)
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Number23 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-13-10 11:38 PM
Response to Original message
39. Hey Count Olaf, I found you an avatar


cool, huh??
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Count Olaf Donating Member (256 posts) Send PM | Profile | Ignore Thu Oct-14-10 10:41 AM
Response to Reply #39
49. hey thanks!
I feel like a moran but, how do I make this my avatar?
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Number23 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-15-10 04:52 AM
Response to Reply #49
55. Go to Edit your Profile
(The only way I know how to get there is to go to Inbox and on the left menu there is Edit your Profile) then go to avatar and you can upload it.

You have to shrink it considerably though first. I can't remember what the dimensions are but it will tell you when you upload it.
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The Uncola Donating Member (519 posts) Send PM | Profile | Ignore Thu Oct-14-10 07:03 AM
Response to Original message
41. Not really..
...Unbefreakinglievable in the least. Hard-working Americans have been getting ripped off by moneyed multinational corporate interests, with a complicit Federal Government assisting them for about 3 decades now. The house of cards has now started to collapse and it will get much worse before it gets better, IF it ever does.
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procopia Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 07:30 AM
Response to Original message
43. Alan Grayson
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axollot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 10:13 AM
Response to Original message
46. A friend of mine works nights for one of the major companies here in Florida - he..
would never question authority (is also a creationist Christian and part time conservative). Ya know what's amazing is he is super intelligent, the kind of guy that can work code in his head (binary) has several degrees but couldnt find work in those areas. It's amazing that an atheist/liberal tree-hugger =) and a guy like that can find common ground but we do - heck we have hobbies together lmao!

He still questions the questioning of his integrity w/regard to the work he is doing and believes the company when they say that these problems have been sorted out. For all of his degrees, none are in law which I pointed out to him after we discussed the robo-signing.

I hope he can keep his eyes open and pays attention he may end up a great whistle-blower, because at the end of the day he wants to do the right thing.

Cheers
sandy
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glinda Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-14-10 10:30 PM
Response to Original message
54. So how will this affect people proving they can vote?
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