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if anyone cares #225621
12/18/10 08:02 AM
12/18/10 08:02 AM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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It's taken me months to figure out the banking mess. Here it is in a nutshell.

http://4closurefraud.org/2010/12/16...n-facilitating-the-mother-of-all-frauds/


Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

-- Have You Seen This? --
Re: if anyone cares [Re: pgp] #225650
12/19/10 08:13 AM
12/19/10 08:13 AM
Joined: Jun 2001
Posts: 1,911
South Florida & the Keys
arbo06 Offline
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That is one large nutshell.


Eric Arbogast
ARC 2101
Miami Yacht Club
Re: if anyone cares [Re: arbo06] #225653
12/19/10 09:45 AM
12/19/10 09:45 AM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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It's a very large Ponzi scheme.


Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #225762
12/21/10 11:36 AM
12/21/10 11:36 AM
Joined: Jan 2009
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pgp Offline OP
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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.

Last edited by pgp; 12/21/10 11:37 AM.

Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #225983
12/28/10 02:18 PM
12/28/10 02:18 PM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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http://www.nytimes.com/interactive/2010/02/01/us/budget.html

budget toy. Click "Hide mandatory spending" for an interesting perspective.


Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #226012
12/28/10 10:49 PM
12/28/10 10:49 PM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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Last edited by pgp; 12/28/10 10:51 PM.

Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #226100
12/31/10 10:46 AM
12/31/10 10:46 AM
Joined: Jan 2009
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pgp Offline OP
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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."


Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #226104
12/31/10 11:34 AM
12/31/10 11:34 AM
Joined: Jan 2009
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pgp Offline OP
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http://mikerooneylaw.com/RoboSigning.aspx

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



Last edited by pgp; 12/31/10 11:34 AM.

Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #226178
01/03/11 08:53 AM
01/03/11 08:53 AM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #226227
01/03/11 09:51 PM
01/03/11 09:51 PM
Joined: Apr 2002
Posts: 805
Gainesville, FL 32607 USA
dacarls Offline
old hand
dacarls  Offline
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Joined: Apr 2002
Posts: 805
Gainesville, FL 32607 USA
Pete,
My goodness, have you worried about asassination yet? One mustn't discuss the secret "MERS Plan".


Dacarls:
A-class USA 196, USA 21, H18, H16
"Nothing that's any good works by itself. You got to make the damn thing work"- Thomas Edison
Re: if anyone cares [Re: pgp] #226242
01/04/11 08:01 AM
01/04/11 08:01 AM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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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)"

Last edited by pgp; 01/04/11 08:24 AM.

Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #226275
01/04/11 06:12 PM
01/04/11 06:12 PM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #226291
01/05/11 11:47 AM
01/05/11 11:47 AM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #226356
01/06/11 05:50 PM
01/06/11 05:50 PM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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http://www.youtube.com/watch?v=-oeq...&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.


Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #226376
01/07/11 09:58 AM
01/07/11 09:58 AM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #226619
01/11/11 12:25 PM
01/11/11 12:25 PM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #227402
01/24/11 03:53 PM
01/24/11 03:53 PM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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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.


Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #227583
01/26/11 12:15 PM
01/26/11 12:15 PM
Joined: Jan 2009
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pgp Offline OP
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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

Last edited by pgp; 01/26/11 01:31 PM.

Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #227607
01/26/11 04:00 PM
01/26/11 04:00 PM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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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...

Last edited by pgp; 01/26/11 04:01 PM.

Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

Re: if anyone cares [Re: pgp] #227642
01/27/11 10:46 AM
01/27/11 10:46 AM
Joined: Jan 2009
Posts: 5,525
pgp Offline OP
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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."

Last edited by pgp; 01/27/11 10:49 AM.

Pete Pollard
Blade 702

'When you have a lot of things to do, it's best to get your nap out of the way first.

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