if anyone cares

That is one large nutshell.

It's a very large Ponzi scheme.

http://4closurefraud.org/2010/12/21... -securitization-and-servicing-practices/

The sky really is falling and I'm not the only one who knows it.

http://www.nytimes.com/interactive/2010/02/01/us/budget.html

budget toy. Click

Hide mandatory spending

for an interesting perspective.

http://4closurefraud.org/2010/12/28... de-financial-corp-bank-of-america-et-al/

Meatier and a lot more complex...

More on MERS:

http://www.washingto...0123003056.html

Virginia delegate Bob Marshall, who has proposed tighter recording requirements, said that

the practice of MERS is going to destroy 400 years of guarantees that American law has sought to give people.

In theory it's a good idea because it saves everyone a lot of money,

said Howard A. Lax, a real estate expert at the law firm of Lipson, Neilson, Cole, Seltzer & Garin. But in practice, he added, MERS

relies on all these people from different financial institutions to give them accurate information. Nobody at MERS is responsible for due diligence, to go back and question whether the information they're getting is accurate. It's just like a computer program. If you're going to put garbage in, you're going to get garbage out.

Phyllis K. Walters, a recorder from Illinois who led the opposition to MERS in the 1990s, said that in her district the chain of title for a parcel of land goes back to 1839 and never got broken until banks started recording, and foreclosing, in the name of MERS.

If things had been recorded in our offices,

she said,

we wouldn't be in this mess.

http://mikerooneylaw.com/RoboSigning.aspx

Why Robo-Signatures Are Illegal in California and Other Non-Judicial Foreclosure States

Some thoughts from George Will.

http://www.news-press.com/article/2... r-coal-overwhelms-carbon-control-crusade

http://www.washingtonpost.com/wp-dyn/content/article/2010/12/31/AR2010123104129.html

Pete,
My goodness, have you worried about asassination yet? One mustn't discuss the secret

MERS Plan

.

http://www.bloomberg.com/news/2011-... ica-settles-mortgage-putback-claims.html

Bank of America’s announcement yesterday that it settled claims on at least $4.1 billion in loans from its Countrywide Financial Corp. unit sent the KBW Bank Index of 24 stocks up 2.3 percent to its highest level since May. A willingness by the GSEs to negotiate may let other lenders cap costs from mounting demands they buy back loans that allegedly had bad or incomplete information about borrowers’ incomes, home values or other data.

From the BoA website:

http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NzYzNjZ8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1

Experience –2004-2008 OriginationsGovernment Sponsored Enterprises
•From 2004 through 2008, $1.1T of loans sold directly to GSEs
•Preliminary estimates of repurchase claims as of 12/31/10 reflect:
- $21.6B of repurchase claims received on 2004 –2008 vintages
- $18.2B of resolved repurchase claims on 2004-2008 vintages with loss experience of 27 percent of claim requests (1)

http://4closurefraud.org/2011/01/04... nconscionable-acts-in-foreclosure-cases/

Florida Attorney General's report.

http://www.faireconomy.org/files/pdf/millions_billions.pdf

From

Who Rules America

.

&list=PL984F07122A861C6E&index=1

A very different view than you may be accustomed to.

All 5 videos total 47 minutes. The first 28 minutes are somewhat tedious but informative all the same. It is the remainder which is most interesting, imo.

http://www.dylanratigan.com/2011/01/06/chris-whalen-on-radio-free-dylan/

Chris Whalen's view of the mortgage mess.

http://4closurefraud.org/2011/01/11... -senate-banking-and-insurance-committee/

More from the Florida AG.

http://www.huffingtonpost.com/l-randall-wray/requiem-for-mers-and-the-_b_812940.html

If you've lost property due to foreclosure you may want to give your attorney a call.

http://www.nytimes.com/2011/01/26/business/economy/26inquiry.html?_r=1

The full report comes out tomorrow, all 576 page. But this Times article is an interesting overview.

Imo, this report will be the central issue in the 2012 election. Those of you who wish to cast an informed vote and sort BS from fiction need to familiarize yourselves with it.

Who knew? If you look at the very bottom of the Times piece there is an interesting story on Nabokov and butterflies

http://4closurefraud.org/message-board/#comment-18683

January 26, 2011 at 3:11 PM
I’m a reporter at the Associated Press.

I am looking for people who were the perfect candidates for loan modifications but who, for whatever reason, were unable to get them.

If you fit this category and would be willing to share your story with me, please contact me at mconlin@ap.org.

Thanks very much.

If you were denied loan modification...

http://www.bloomberg.com/news/2011-... -forget-commentary-by-simon-johnson.html

Big Gets Bigger

At the end of the third quarter of 2010, by my calculation, the assets of our largest six bank holding companies were valued at about 64 percent of gross domestic product -- compared with about 56 percent before the crisis and about 15 percent in 1995. Barofsky quotes Thomas Hoenig, president of the Kansas City Federal Reserve, who uses similar numbers and draws the same conclusion: The big banks have undoubtedly become bigger.

See foreclosure via satellite.

http://4closurefraud.org/2011/01/28/a-frightening-satellite-tour-of-americas-foreclosure-wastelands/

Are all these people deadbeats?

..a more direct view.

http://www.businessinsider.com/satellite-tour-foreclosure-cities-2011-1?slop=1#slideshow-start%23ixzz1CHII8G00%23ixzz1CLP0ArgD

http://www.dailyfinance.com/story/c... me-fault/19819619/?icid=sphere_copyright

http://online.wsj.com/article/BT-CO-20110128-713527.html

http://www.reuters.com/article/2011/01/29/foreclosures-deutschebank-probe-idUSN2811753620110129

http://www.stayinmyhome.com/blog/?p=1091

http://4closurefraud.org/2011/01/29... explained-and-the-foreclosures-continue/

http://www.nytimes.com/2011/01/30/business/30gret.html?partner=rssnyt&emc=rss

New York Times synopsis of banking mortgage crisis.

http://finance.moneyandmarkets.com/... ent&gclid=CJ3hluG84KYCFUnt7Qod30G-0g

list of weak/strong banks

http://www.propublica.org/special/fcic-document-dive

http://www.bloomberg.com/news/2011-... -billion-in-disputed-mortgage-bonds.html

The investor group including Pacific Investment Management Co. that is weighing whether to sue Bank of America Corp. over about $47 billion in mortgage bonds agreed to extend talks with the lender for the second time.

http://www.consumerfinance.gov/

New government agency.

http://www.marketoracle.co.uk/Article26109.html

this is what they're saying about us in the U.K.

It has been discovered that most of the loans in the Wall Street MBS packages and those held by Fannie Mae/Freddie Mac, in fact, did not meet federal regulatory standards, not even close. Just about every player in the real estate industry had a large hand in this fraud: mortgage lenders, banks, sellers, buyers, brokers, appraisers, lawyers, middlemen, federal and state agencies, Congress and last five Presidents. The result is a home foreclosure rate that is unheard of already and looking likely to accelerate.

am I the only one still paying my mortgage? one day I'll learn....

http://market-ticker.org/akcs-www?singlepost=2410491

MERS and its partners made the decision to create and operate under a business model that was designed in large part to avoid the requirements of the traditional mortgage recording process. This Court does not accept the argument that because MERS may be involved with 50% of all residential mortgages in the country, that is reason enough for this Court to turn a blind eye to the fact that this process does not comply with the law.

In other words, take your

too big to be judged unlawful

argument and shove it up your butt!

Here is the beginning and end of the problem. MERS cannot prove that the note was transferred properly because it doesn't have it, never had it, and never touched it. It is simply a database.

Therefore, any

assertion

that the note was assigned is hearsay and inadmissible. MERS cannot form the foundation to be able to admit these alleged facts as evidence as you can't lay a foundation without the physical evidence necessary to do so and MERS is bereft of actual knowledge, since once again it never saw the note, never held the note and never negotiated the note. Therefore, all it has is a database entry which under long-standing legal precedent is a nearly-perfect example of hearsay and is thus inadmissible

http://www.globalresearch.ca/index.php?context=va&aid=10489

It is time for Congress to exercise that leverage and make the Federal Reserve a truly federal agency, acting by and for the people through their elected representatives. If the Fed can demand AIG’s stock in return for an $85 billion loan to the mega-insurer, we can demand the Fed’s stock in return for the trillion-or-so dollars we’ll be advancing to bail out the private banking system from its follies.

+1

http://www.palmbeachpost.com/money/wachovia-sued-could-owe-millions-for-role-in-1248696.html