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Independence Day | What Can Be Done and What Has Been Done RE: State Wide Moratorium on Foreclosures
What Can Be Done and What Has Been Done RE: A State Wide Moratorium on Foreclosures
As
I sit here on this 4th of July weekend to write this article and
reflect on what is happening in this once great nation, it saddens me
that it has gotten this bad...
If you really take a step back and evaluate where all this madness has taken us, it can really hit you hard...
How did we let things go so far???
We, as a nation, as the people of this nation, need to take back what has been stolen from us.
Again, what is happening here was no accident. It was the biggest ponzi scheme ever perpetrated in the history of the world.
There
are many many reports to back up that claim but you will not find any
in the mainstream media. No, the mainstream media is owned by the same
players that orchestrated the biggest heist in the history of the
world...
Well, I for one refuse to sit back and let this crisis happen without doing everything in my power to make a difference.
Have I?
I like to think so...
Since
I decided to do whatever I could to change the foreclosure paradigm,
amazing things have happened with the help of a very special core
group...
A group of Foreclosure Fraud Fighters that has emerged out of Florida with a power to be reckoned with.
We have done amazing things, and I truly believe, without our efforts, Florida, and the nation, would have a completely different landscape.
Now, I am not saying Florida, nor our once great nation, is anywhere close to where it needs to be, but it is a start.
If we do not keep up the fight, and hard, I am afraid of what the future will bring.
WITH
ALL WE KNOW, WITH ALL THE COURTS NOW KNOW, WITH ALL THE FRAUDS
PRESENTED, WITH ALL OF THE INVESTIGATIONS STARTED, HOW CAN THE JUDGES OF
THIS STATE GRANT SUMMARY JUDGMENTS AT ALL???
With that said, I would like to present a possible solution to the Foreclosure Crisis in Florida...
Below are quotes from an AFFIRMED opinion from the SUPREME COURT OF THE UNITED STATES...
RE: FORECLOSURE CRISIS
(emphasis added by me)
The Act provides that, during the emergency declared to exist, relief may
be had through authorized judicial proceedings with respect to
foreclosures of mortgages, and execution sales, of real estate; that
sales may be postponed and periods of redemption may be extended.
The Act does not apply to mortgages subsequently made, nor to those
made previously which shall be extended for a period ending more than a
year after the passage of the Act (Part One, § 8). There are
separate provisions in Part Two relating to homesteads, but these are
to apply "only to cases not entitled to relief under some valid
provision of Part One." The Act is to remain in effect "only during
the continuance of the emergency...
So it is possible for the courts to protect the people instead of disposesing them...
The
Act declares that the various provisions for relief are severable;
that each is to stand on its own footing with respect to validity.
Part One, § 9. We are here concerned with the provisions of Part
One, § 4, authorizing the District Court of the county to extend the
period of redemption from foreclosure sales "for such additional time
as the court may deem just and equitable," subject to the above
described limitation. The extension is to be made upon application to
the court, on notice, for an order determining the reasonable value of
the income on the property involved in the sale, or, if it has no
income, then the reasonable rental value of the property, and directing
the mortgagor
to pay all or a reasonable part of such [p417]
income or rental value, in or toward the payment of taxes, insurance,
interest, mortgage . . . indebtedness at such times and in such manner
as shall be determined by the court.
Invoking
the relevant provision of the statute, appellees applied to the
District Court of Hennepin County for an order extending the period of
redemption from a foreclosure sale. Their petition stated that they
owned a lot [p419] in Minneapolis
which they had mortgaged to appellant; that the mortgage contained a
valid power of sale by advertisement and that, by reason of their
default, the mortgage had been foreclosed and sold to appellant...
because of the economic depression appellees had been unable to obtain a new loan or to redeem, and that, unless the period of redemption were extended, the property would be irretrievably lost, and
that the reasonable value of the property greatly exceeded the amount
due on the mortgage, including all liens, costs and expenses.
On
the hearing, appellant objected to the introduction of evidence upon
the ground that the statute was invalid under the federal and state
constitutions, and moved that the petition be dismissed. The motion was
granted, and a motion for a new trial was denied. On appeal, the
Supreme Court of the State reversed the decision of the District Court.
It
is this judgment, sustained by the Supreme Court of the State on the
authority of its former opinion, which is here under review.
The state court upheld the statute as an emergency measure.
Although conceding that the obligations of the mortgage contract
were impaired, the court decided that what it thus described as an
impairment was, notwithstanding the contract clause of the Federal Constitution, within the police power of the State as that power was called into exercise by the public economic emergency which the legislature had found to exist.
The court said:
In addition to the weight to be given the determination of the legislature that an economic emergency exists which demands relief,
the court must take notice of other considerations. The members of
the legislature come from every community of the state and from all the
walks of life. They are familiar with conditions generally in every
calling, occupation, profession, and business in the state. Not
only they but the courts must be guided by what is common knowledge.
It is common knowledge that, in the last few years, land values have
shrunk enormously. Loans made a few years ago upon the basis of the
then going values cannot possibly be replaced on the basis of present
values. We all know that, when this law was enacted, the large
financial companies which had made it their business to invest in
mortgages had ceased to do so. No bank would directly or
indirectly loan on real estate mortgages. Life insurance companies,
large investors in such mortgages, had even declared a moratorium as
to the loan provisions of their policy contracts. The President had
closed banks temporarily. The Congress, [p423] in addition to many extraordinary measures looking to the relief of the economic emergency, had passed an act to supply funds whereby mortgagors may be able within a reasonable time to refinance their mortgages
or redeem from sales where the redemption has not expired.With this
knowledge, the court cannot well hold that the legislature had no basis
in fact for the conclusion that an economic emergency existed which called for the exercise of the police power to grant relief.
Sound familiar???
Justice Olsen of the state court, in a concurring opinion, added the following:
The present nationwide and worldwide business and financial crisis has the same results as if it were caused by flood, earthquake, or disturbance in nature. It has deprived millions of persons in this nation of their
employment and means of earning a living for themselves and their
families; it has destroyed the value of and the income from all
property on which thousands of people depended for a living; it
actually has resulted in the loss of their homes by a number of our
people and threatens to result in the loss of their homes by many other
people, in this state; it has resulted in such widespread want and
suffering among our people that private, state, and municipal agencies
are unable to adequately relieve the want and suffering, and congress
has found it necessary to step in and attempt to remedy the situation
by federal aid. Millions of the people's money were and are yet tied
up in closed banks and in business enterprises.
How about that???
We
approach the questions thus presented upon the assumption made below,
as required by the law of the State, that the mortgage contained a
valid power of sale to be exercised in case of default; that this power
was validly exercised; that, under the law then applicable, the period
of redemption from the sale was one year, and that it has been
extended by the judgment of the court over the opposition of the
mortgagee-purchaser, and that, during the period thus extended, and
unless the order for extension is modified, the mortgagee-purchaser will be unable to obtain possession, or to obtain or convey title in fee, as he would have been able to do had the statute [p425]
not been enacted. The statute does not impair the integrity of the
mortgage indebtedness. The obligation for interest remains. The
statute does not affect the validity of the sale or the right of a
mortgagee-purchaser to title in fee, or his right to obtain a deficiency
judgment if the mortgagor fails to redeem within the prescribed
period. Aside from the extension of time, the other conditions of
redemption are unaltered. While the mortgagor remains in
possession, he must pay the rental value as that value has been
determined, upon notice and hearing, by the court. The rental value
so paid is devoted to the carrying of the property by the application
of the required payments to taxes, insurance, and interest on the
mortgage indebtedness. While the mortgagee-purchaser is debarred from
actual possession, he has, so far as rental value is concerned, the
equivalent of possession during the extended period.
In
determining whether the provision for this temporary and conditional
relief exceeds the power of the State by reason of the clause in the
Federal Constitution prohibiting impairment of the obligations of
contracts, we must consider the relation of emergency to constitutional power,
the historical setting of the contract clause, the development of the
jurisprudence of this Court in the construction of that clause, and
the principles of construction which we may consider to be established.
Emergency does not create power.
The Constitution was adopted in a period of grave emergency.
While emergency does not create power, emergency may furnish the occasion for the exercise of power.
Although
an emergency may not call into life a power which has never lived,
nevertheless emergency may afford a reason for the exertion of a living
power already enjoyed.
Undoubtedly, whatever is reserved of
state power must be consistent with the fair intent of the
constitutional limitation of that power. The reserved power cannot be
construed so as to destroy the limitation, nor is the limitation to
be construed to destroy the reserved power in its essential aspects.
They must be construed in harmony with each other.
This principle precludes a construction which would permit the State to
adopt as its policy the repudiation of debts or the destruction of
contracts or the denial of means to enforce them. But it does not
follow that conditions may not arise in which a temporary restraint of enforcement may be consistent with the spirit and purpose of the constitutional provision, and thus be found to be within the range of the reserved power of the State to protect the vital interests of the community.
The reservation of state power appropriate to such extraordinary conditions may be deemed to be as much a part of all contracts as is the reservation of state power to protect the public interest in the other situations to which we have referred. And if state power exists to give temporary relief from the enforcement of contracts in the presence of disasters due to physical causes such as fire, flood or earthquake, that [p440] power cannot be said to be nonexistent when the urgent public need demanding such relief is produced by other and economic causes.
It is manifest from this review of our decisions that there has been a growing appreciation of public needs
and of the necessity of finding ground for a rational compromise
between individual rights and public welfare. The settlement and
consequent contraction of the public domain, the pressure of a
constantly increasing density of population, the interrelation of the
activities of our people and the complexity of our economic interests,
have inevitably led to an increased use of the organization of society
in order to protect the very bases of individual opportunity. Where,
in earlier days, it was thought that only the concerns of
individuals or of classes were involved, and that those of the State
itself were touched only remotely, it has later been found that the fundamental interests of the State are directly affected, and that the question is no longer merely that of one party to a contract as against another, but of the use of reasonable means to safeguard the economic structure upon which the good of all depends.
It
is no answer to say that this public need was not apprehended a
century ago, or to insist that what the provision of the Constitution
meant to the vision of that day it must mean to the vision of our time.
If, by the statement that what the Constitution meant at the time [p443] of its adoption it means today...
"We must never forget that it is a constitution
we are expounding, a constitution intended to endure for ages to come,
and, consequently, to be adapted to the various crises of human
affairs." Id., p. 415. When we are dealing with the words of the Constitution, said this Court;
we
must realize that they have called into life a being the development
of which could not have been foreseen completely by the most gifted of
its begetters. . . . The case before us must be considered in
the light of our whole experience, and not merely in that of what was
said a hundred years ago.
Nor is it helpful to attempt
to draw a fine distinction between the intended meaning of the words
of the Constitution and their intended application. When we consider
the contract clause and the decisions which have expounded it in
harmony with the essential reserved power of the States to protect the security of their peoples,
we find no warrant for the conclusion that the clause has been warped
by these decisions from its proper significance, or that the founders of our Government would have interpreted the clause differently
had they had occasion to assume that responsibility in the conditions
of the later day. The vast body of law which has been developed was
unknown to the fathers, but it is believed to have preserved the
essential content and the spirit of the Constitution. With a growing
recognition of public needs [p444] and the relation of individual right to public security,
the court has sought to prevent the perversion of the clause through
its use as an instrument to throttle the capacity of the States to
protect their fundamental interests. This development is a growth
from the seeds which the fathers planted.
Applying the criteria established by our decisions we conclude:
1. An emergency existed... which furnished a proper occasion for the exercise of the reserved power of the State to protect the vital interests of the community.
The declarations of the existence of this emergency by the
legislature and by the Supreme Court... cannot be regarded as a
subterfuge, or as lacking in adequate basis... the economic emergency
which threatened "the [p445] loss
of homes and lands which furnish those in possession the necessary
shelter and means of subsistence" was a "potent cause" for the
enactment of the statute.
2. The legislation was addressed to a legitimate end, that is, the legislation was not for the mere advantage of particular individuals, but for the protection of a basic interest of society.
3. In view of the nature of the contracts in question -- mortgages of unquestionable validity -- the relief afforded and justified by the emergency,
in order not to contravene the constitutional provision, could only
be of a character appropriate to that emergency, and could be granted
only upon reasonable conditions.
4. In the absence of
legislation, courts of equity have exercised jurisdiction in suits for
the foreclosure of mortgages to fix the time and terms of sale and to
refuse to confirm sales upon equitable grounds where they were found
to be unfair or inadequacy of price was so gross as to shock the
conscience.
5. The legislation is temporary in operation. It is limited to the exigency which called it forth.
Judgment affirmed.
HUGHES, C.J., Opinion of the Court
SUPREME COURT OF THE UNITED STATES
290 U.S. 398
Home Building & Loan Assn. v. Blaisdell
APPEAL FROM THE SUPREME COURT OF MINNESOTA
No. 370 Argued: November 8, 9, 1933 --- Decided: January 8, 1934
Welcome to the Greatest Depression...
Please educate everyone you know on these issues... 4closureFraud dot org
Please
share this with every friend, media outlet, social networking group,
website, blogger, attorney, politician and judge that you can.
Tell them that there are other solutions available to sort all this out besides the current methods of summary judgments to disposes entire communities...
With
all that is now known about what has been done, the frauds that have
been perpetrated on the people of this country, I couldn't see how
there could be any another way than a temporary moratorium on foreclosures until all this can be "sorted out" and the parties responsible for this crisis are prosecuted.
STOP THE MADNESS
STOP THE FRAUDS
STOP THE FRAUDCLOSURES
STAND UP AND SAY NO MORE!!!
Happy 4th of July Everyone...
Full Opinion and Syllabus below...
Michael Redman
www.4closureFraud.org
»
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If I had know I would be able to live rent free for YEARS by simply becoming a home loaner back in 07, I would have done so, like millions of other sheeple.
And I'd be willing to put up with Angelina Jolie's insanity if I could just get my hands on all the rest. Sounds like the hot deal of a lifetime.
Living with it, on the other hand, tends to be a different story.
I Like how the poor people are attacking the poor people!
Mission! Accomplished!!
From Your Leaders!! Don't worry! we will get them out of their houses and before it is all said and done we will get your Social Security too!! Haa haaa haaa Fools!
It's that Gladys Kravitz (the old Bewitched sit-com) mentality. Ironically, many are the first to abhor the "politics of envy."
Fundamentally, it's like bitching that you, too, didn't get screwed into the ground! "Doctor, you say I have cancer but I don't get surgery, radiation and chemo like that guy does? Not fair! He was a smoker."
Look, folks, setting the arguable moral issues aside, if destroying your credit rating is worth it to you, default. That's the very real price of not paying your mortgage: 7 years of NO credit. Don't pretend that there's no "cost" to defaulting, whether deliberately or not.
BTW, this meme that "everybody's doing it" willingly and then going to Disney World is absurd, imo. I know an attorney whose entire practice is debtors. Out of 500 clients, she has only 1 who will listen to reason about declaring bankruptcy before they're penniless. In reality, the vast majority of people under water and in trouble are self-destructively committed to paying those debts. Don't imagine for even a moment that their attachment to their homes is the weakest one of all.
Here you go...this only becomes evident upon default but it's everywhere.
MERS Evidence of Immortal Mortgages Claimed as Active Loan After Fraudclosure or ShortSale
We must all realize something important. All those who dutifully and admirably cite their "Moral Contract" need to understand that your "Moral Contract" is most likely the only one that truly exists.
No one is playing by the rules. If you obtained a mortgage beginning in the early to mid nineties it has more than likey been paid off more than once already with your tax dollars and your children's tax dollars. Further, those involved in the securitization racket avoided paying taxes on their systemic unjust enrichment.
See REMIC.
divide et impera
While we fight amongst ourselves, our common enemy - the phony form of capitalism that now calls the shots - the masters are laughing amongst themselves.
They are laughing at us and there is nothing funny about it.
By the time you really learn what has happened it may be too late.
If you decide to sell your house you are going to need legal title to your property.
Moral Contracts do not count...
Below is a two minute video that is interesting.
The Essence Of The Banking Industry...
Happy and safe Fourth of July to all...
Let's be crystal clear, this entire property business was built by bankers, not homeowners. Homeowners are not 'victims' (please no more excuses) they are sheep and have been herded into a bubble business that really had only one end-game, to saturate the banksters in Benny Bonuses.
That's why State (property) Law was usurped with MERS entirely as a short-cut (rat run) to speed flogging the equally criminal MBS's. Everything was done (very sloppily) for shovelling maximum bonuses into banksters pockets (the clear motive throughout).
The banksters, like all Big Business, didn't give a crap about the customers (homeowners/sheep) who were herded like so many numbers. They actually liked/encouraged the properties were over-valued, that the bubble was bubbling and gave no thought to where it was heading. Greed trumped all other (trivial) matters
So how is our wonderful Judicial system handling this? Well like the banksters they became a part of the business of fraud, by allowing further documentation fraud to continue to favour banks in foreclosures. Now the mass fraud and illegal property processing cat is out the bag they've begun to seize up like treacle.
LucyLulu says above, "Judges are cognizant of the huge potential financial impact of decisions in favor of homeowners." I'd like to know if a Judge has ever stated that because this is not their job. Their job is to intepret the Law fairly and squarely as it stands, not contemplate political or financial ramifications.
Banksters have usurped State property Law: jail them
Banskters have committed documentation fraud and purjery in Court: jail them
Banksters have flogged sugar coated (AAA rated) turds: jail them
It is not for the Judiciary or Attorney Generals to 'make deals' or find compromises 'happy to all parties' when one party is a criminal fraud and a thief. The deals being struck are little more than smokescreens and shams to hide the fact one party is not being prosecuted under simple Laws for their mis-deeds. Do your fuking jobs, the easy one of executing clear Laws on theft and fraud and take out the criminals, jail them... the rest will sort itself out if the market is left to its own devices
"...Law was usurped with MERS" thank you for bringing that up. Frank, a neighbor of mine who died from cancer recently, was a retired Superior Court Judge. I wish he had lived a year longer. He used to stop by my house on his walks and we discussed the MERS issue. He was of the opinion that all the MERS contracts were invalid and should be Null and Void.
all the MERS contracts are invalid, they contravene the US Constitution which gave the States the sole and explicit right to process property ownership documents.. this was done precisely to prevent 'Big Govt' meddling at a national level by making personal property ownership local and therefore seperate and too disparate for national corruption... it was a safeguard aganst Big Govt
the entire (commercial) motive behind MERS was little more than a fast-track paperwork production factory for the big bankers to speed the MBS process. They simply wanted to speed up and reduce costs in the mortgage process (which is fine) but were quite happy (ie. conscious and deliberate) to usurp the Constitution and US States rights and fees in their greedy dash to make fast profits/bonuses (which is not fine)
And look at the MERS shareholders. JP Morgan (who else!). But worse, Fanny and Freddie, 2 US Govt entities. So the US Govts own quangos were usurping the US Constitution of which the US President, Senators and Congressmen are sworn to uphold!!
MERS is what Guantanimo Bay is, a way for an elite group to get around the Law, bending (breaking) the rules by which these hypocrites expect everyone else to comply... in short anarchy (in the property market). This wass fast money making by wilfully breaking the Law, and pissing on the Constitution, which is criminal conduct. Period.
The way you deal with a cancer is to purge the individual cancer cells. None of the cancer cells have been touched to date! The bankers and CRA's for commiting fraud. The shareholders of MERS for usurping State Law and the Constitution. The bankers, lawyers and judges for fraudulent documentation and kangaroo courts.
Nothng has been done to effectively take out (prosecute) the cancer cells while this 'State Moratorium' seems to be little more than a way of whitewashing the criminality out and doing a deal with the Devil. The cancer isn't being purged, it's still growing in anyone signing and endorsing this Moritorium to excuse criminal and un-Consitutional behaviour
+1776
i still side with the homeowners, although i know alot of the possible fallout goes against what i truly believe in.......nonetheless, they were sold a bubble and then had it deflated by the banksters well planned prick , now they are caught in foreclosure fraud against the homeowner is truly mind boggling......and imo, trumps all the other arguments
this is totally backwards. you cannot justify fraud with more fraud or fight fraud with 'fraud'.
a moratorium on foreclosures will simply prolong the arrival of change by mollifying the public.
the public needs to be shocked into desperation and anger to do something to provoke real change in the banking system. middle and working class people must be made homeless quickly and drastically to supply enough tinder and kindling for a true conflagration.
'trying to make things better' for the average person will only prolong this wretched system on life support for another 10-15 years maybe?
in the meanwhile we will be giving people who are seeking opportunities to sell this country out to private investors--a chance to cozy up with cheap money from russia and china and from the american mafia, not even the bankers, staight mafia.
this whole country will be sold out by the time your foreclosure moratorium has proved its effective use as a delay tactic. i'm not saying don't sue the banks, or dont engage in fraudulent 50 state wide federal sponsored 'settlements'. i'm not saying any permutation should or shouldn't be done. i'm just saying the basic mindset is to EMBRACE collapse of debt based asset pricing systems, rather than fight it. fighting it is akin to keeping zombie debt issuing institutions in complete control of our lobbyist owned government. soon enough, we will have a zombie government that is officially in default and yet still attempting to print money to pay down medicare and social security obligations. you are going to use the authority of this institution to regulate property rights? property right's will fall back toward the sphere of state governments, their natural place.
if anything , there should be a federal emergency ACCCELERATION of all foreclosures into a federal foreclosure process. kick people out and write down debt as fast as possible. expose the banks, kick people out. dont even encourage them to save money which they should have paid in rent. this is change. this is freedom, not another socialist program like a property foreclosure moratorium. soon enough you are going to be reccomending a moratorium on property taxes accept for the rich, then you will reccomend taking their property. the list never ends.
you are deluded in your understanding of basic property rights. the problem is cheap debt and the method by which this debt corrupted the mortgage making system, the housing price system, and ultimately the title system by which securitized tranches of mortgages possessed by a combination of trustee/servers/and processor companies corrupted the debt.
do you think that a moratorium is going to change the fact that this system needs to end? no.........no way. ALLOW IT TO BREAK OF ITS OWN ACCORD AND LET THE SUFFERING BUILD FIRE.
:brl: 'trying to make things better' for the average person will only prolong this wretched system on life support for another 10-15 years maybe?
Even my dimwitted neoclassical riemannian junker mate here understands what it means to hide behind the bifurcated convolution that is multiple personalities (aka convenient duplicity and ambiguity).
The whole point of the exercise is to now delay it to oblivian until it can be rebranded into some new Resolution Trust vehicle via some other oversight committee the American way.
If people aren't going to rally the cause since it was revealed $2.3trillion went missing, Enron/Worldcom IndyMac/WaMu Lehman/Bears $145 oil, war on terror, homeland etc then a $few $billion in foreclosures is hardly going to break the camel.
Desensitise, overwhelm and obscure. (adapted from Clint's other famous Heartbreak Ridge verse). You've pissed everything else down the drain, why start to care now? Google "Born Losers".
Well said on the angle of throwing out the bums in their underwater houses. I'm all for taking down the banks, but not to save dumb ass homebuyers that had to have that marble countertop and sub-zero refridgerator. You cant just blame the banks and give these people free houses because in the end you're still just stealing from me. If you are in a house you dont plan on paying for get the fuck out. You're keeping this system alive and I am paying for it. If you took out huge lines of equity on your house during the bubble then get the fuck out. Sell the house. Let the losses be booked by EVERYBODY involved and NOBODY thats not in the middle of this shit. Dont give me that broken title BS. Doesnt mean you get a free house at my expense, by stalling the process you're just slowing the inevitable, and shifting more of the burden off of your greedy dumb selves and onto me. Everyone's crying fraud and pointing fingers but all they're doing is buying time, time bought at the entire world's expense. Hope all you overweight deadweights get tossed out of your worthless paper pushing jobs that create nothing. Hope there's then a shortage of demand for middle aged lazy people with liberal arts degrees so you cant pay your stupid ARM. Wait, already happened didnt it. At least you have a couple years of stalling your foreclosure to keep the system just as bloated as ever, a couple years of unemployment, and of course your 200 bucks a month in snap benefits.
What I cant wait for is when all these people actually roll off the unemployment books, that foreclosure that they managed to stall finally comes, and they realize that their SNAP card only buys them 3 days worth of microwaveable TGIFridays wyngz and digiorno pizzas. My guess is they'll all try and move back in with their parents. That already happened too didnt it?
Hope the next generation does better... they'll have to work tough to keep up with those student loan payments that will soon rise to be a significant part of the GDP. They'll also have to compete with an incompetent workforce that cares nothing about advancement or productivity but about seniority, nepotism, cronyism, and most importantly, simply keeping their jobs. Not only that, but all the entry level jobs will have been shipped off to other countries, guess they'll have to work abroad if they want to even get a foot in the door. Wouldnt it suck if they got taxed an enormous rate for working abroad? Wait, think all of thats already happening too.
Well, there's always odd jobs and construction and such, maybe agricultural work we can do. Oh damn, there's already a huge illegal workforce that has this whole industry on lockdown. Kind of reminds me of my ancestors, shipped into the US on false dreams only to work in rediculously dangerous conditions. The only reason they were brought in was because slaves were considered valuable property and one would hate to have property die on them. Now we're stuck in a modern day version except with liability. Why would I hire someone that can sue me when I can pay this guy who'll work for half and I can treat like dogshit and have no liability over?
/puts down bottle, ends rant
Signed, a 29 yr old entrepeneur with no debt, nice assets in PM's, plenty of fiat, no student loans, yet no opportunity, no future, only a nightmare of a system that Franz Kafka himself could never have imagined waiting to grind me to pieces.
You're an "entrepreneur" yet you have "no opportunity, no future"? That's an ironic paradox. In other words, you're not really an entrepreneur, you're just another whiner, like those trying to keep their houses as you describe.
Let me give you the other side of it, the side that you neglected to consider in your antagonism and perhaps even jealousy of those you deride for trying to stay in their houses. How about the banks that purposely fed these nonviable loans and mortgages into the market to allow people who should have never attained home ownership in the first place to get one, eventually leading to defaults on such a massive scale that your tax dollars and everyone else's in this fucked up system could be pumped into it, skimmed off by the banks, then used to further drive people out of said homes and put a lock on the economy that only a concerted effort by millions of gun owners could rectify. Did you consider that?
Do you also blame the rape victim for dressing like she was asking for it? The murder victim for getting in the way of the bullet? The 9/11 victim for being in the wrong place at the wrong time? Why don't you blame your father for conceiving you and your mother for birthing you?
You're either with Us or against Us, and Us don't include the FUCKING BANKERS THAT CREATED THIS MONETARY DEATH STAR.
So quit your fucking whining and get out there and start a business. Oh, I'm sorry, the "opportunity" is not there because the FUCKING BANKERS DESTROYED IT. But just blame the people they baited with cheap money. It's easier that way. It doesn't dissonate your cognition. Next time, put down the bottle and then pass out. When you wake with a hang over, spend some time sobering up, take a cold shower, drink some cold water, then let your brain mull over the Big Picture and see if you come to the same conclusion as above.
I am Chumbawamba.
There.
+29
+29
Hahaha! Awesome post. Keep the rants coming, dude.
You sound almost as impatient as I feel. Next people will start clamoring for the National Housing Act of 1934, er 2011... to be followed with the Housing and Urban Development Act of 1965 ( 2012). God forbid defaulting borrowers and their hustling creditors go down in flames together so the survivors can move on from this trainwreck.
The Federal Response to Home Mortgage Distress: Lessons from the Great Depression. David Wheelock
http://goo.gl/5CMqI
Or in even more gory detail, America's Great Depression. Murray Rothbard
http://mises.org/rothbard/agd/contents.asp
Good job and Good luck for the future, we must all do what we can to fix this.
In my illegal opinion, this decision could be used to justify decisions both for homeowners and lenders. Lenders could argue the interests of the community were best represented by relaxing documentation standards and clearing the foreclosure pipeline. In 99+% cases, there is valid debt, only difficulty proving who has legal standing to enforce the debt. As noted in pre-trial hearing of Paul(?) v. BofA in CA Appellate Court, judges are cognizant of the huge potential financial impact of decisions in favor of homeowners. OTOH, how can one who has sworn to uphold the laws of the land, opt to discard the protections afforded by centuries-old contract law........ much less ignore the utter recklessness and disregard for our land record systems, if not outright felonious fraud, that has permeated the mortgage industry. Decisions in either direction have the potential of major consequences that extend far beyond the parties in the courtroom.
I don't envy the job of these judges. I am angry though at the lenders for putting the country and its livelihood in this untenable position, and our judicial system for not throwing them all in jail. Two different lenders appear in a court in W.P.B with wet ink notes and the case is dismissed without prejudice.... i.e. come on back in and see me when the fraud isn't quite so blatant? I'm not so sure that in itself wasn't a criminal act. It certainly wasn't ethical or moral. There may not be a "good" solution for the current problem, but there is only one way we can effectively deter it from happening again. The laws were written for bankers too. Hang the bastards.
Nobody goes to jail because you can't send a "corporation" to jail!
The SCOTUS sold us down the river when they made a corporation a "person". It gave the CEOs carte blanche to have their way with us...the taxpayers, the consumers, the customers, the slaves.
Do just the opposite.
Occupy the homes and force the banks to foreclose.
Force the banks to book the loss.
That's when the recovery begins.
Yes. A bit OT - but 'US Independence Day' is now officially a misnomer. It has been bagged and tagged as "US your ass is now owned Day".
... or "US sorry, no longer opened for business Day".
A special 'hi' to all those now paying city parking fees and fines on public holidays. One small step for free market business ...
The housing bubble and the resulting foreclosure problem
have been at the root of this nations financial crisis.
Our government has so far only addressed the lenders
distress with hugh bail-outs, even though they were at
least equally if not more responsible for the crisis. The
time has come for real, serious relief for the homeowners.
There will be no recovery for this nation if millions more
people lose their homes.
NO. The solution is to take back every penny given and loaned and slid under the table to the banksters, lock them away for life, take 100% of their property, throw their families out into the street to fend for themselves, and...
... STOP "SAVING" PEOPLE.
The only way to "save" people (banksters or fools who suckered for the housing bubble) is to destroy honest, ethical, benevolent, prudent, productive and often frugal people who lived a lower lifestyle and saved their money.
To further abuse savers is not the answer. The answer is for everyone who is underwater to stop paying their mortgage, wait for foreclosure, save the money they would have spent for mortgage payments, then rent when they finally get booted out (~3 years later).
That will destroy the banks. GOOD RIDDENS.
The answer is not to steal from prudent frugal savers until nobody has a single penny left.
Let housing royally crash and burn, as it should. When houses are actually cheap (50% lower than today), all those frugal savers will finally be ready to buy. And guess what. At those prices, so can many others.
Too late, this mess has already cost the average American well over 100,000 dollars a head, in bailouts to the crooks that did this, in the form of lost home equity, in the form of lost jobs, in the form of future taxes tht will have to be paid with interest because of the gifting of these trillions to the banks. You do not feel it because so much of it has been borrowed by the government to give to the crooks and so you have yet to get the bills, you do not feel the loss of equity till you need to sell, but collectively we have lost almost 9 trillion in RE equity that will be felt eventually.
There is no way to restart the engines of growth we always had, there is smoke, and there are mirrors, and there are those skilled at making us believe that all will be well, but the truth is the nation was already gutted by the time the real collapse began in 2007, and everything done since that time first by BushCo then by Barry o has been done to buy time to make sure those that did this to us get out cleanly with their dynastic wealth intact.
Burning it all down or blowing it up and starting from sctratch sounds like an attractive idea until you realize how many will lose everything they have left, and it will take a lifetime to rebuild. It is even possible that in this era it can't be done at all, as well as leaving us open to radicals and monsters that make these Wall Street and DC thugs look like fairy princesses.
At this point, given the technology in the hands of the predators-that-be and predator-class, only two possible outcomes exist.
1: We totally blow up the system, eliminate central banking and central government (if not all levels of government, or close to it). Then we all get well armed and skilled with those arms, and become productive and defend ourselves.
2: The predators-that-be and predator-class completely dominate, enslave and abuse everyone. Then they will kill off about 95% of the population of earth as they openly plan, and keep around only as many slaves as they wish. This will make earth a PERMANENT slave planet, because no means will exist any longer for individuals to riot and eliminate the predators.
This is it, folks. The outcome of the next decade seals the fate of mankind forever. Look at the facts, and you'll see this is make or break time for homo-stupido.
4CF - superb effort from you and your Florida Fighters ;)
Dear Sir(s) of 4closureFraud,
Your namesake is the 21st Century equivalent of "Cato", "Centinel", and "Brutus" of the Anti-Federalists.
Bravo, and thank you. Health and Happiness to you and yours on this Independence weekend.
WW
Happy fourth. Remember the lessons of the enlightenment.
I guess anytime a legislative body decides to declare an emergency then they can pass laws to take away our rights. It says so right there in the court's opinion.