• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Is MERS Commercial About To Break The CMBS Market?

Tyler Durden's picture




 
0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 10/11/2010 - 13:53 | 641149 Turd Ferguson
Turd Ferguson's picture

Estimates of QE2 are grossly too low. Try $5T on for size. Got gold?

Now, take this to its conclusion....

The Fed buys all worthless CMOs. The Fed becomes beneficial owner of the vast majority of US residential real estate.

At the demise of the Weimar, the Germans issued new currency backed with the only hard asset they had...real estate. 

Not sayin. Just sayin.

Mon, 10/11/2010 - 13:54 | 641168 Keri at Bankste...
Keri at Bankster Report's picture

The nation's largest title insurance company, Old Republic, is no longer offering title insurance to JPM or Ally Bank foreclosure sales:

http://moneywatch.bnet.com/saving-money/blog/home-equity/old-republic-ti...

Holy smokes.  This is huge!  The title insurance companies even know that they can't trust the banks!

Mon, 10/11/2010 - 14:25 | 641248 Ripped Chunk
Ripped Chunk's picture

Title insurance had to be the next shoe to drop.

Mon, 10/11/2010 - 22:55 | 642369 title examiner
title examiner's picture

Title Insurance should have been the first shoe to drop and it should have dropped years ago.

It isn't like they didn't know at the very beginning and it isn't like Title Examiners around the country weren't complaining--and being squelched via blacklisting.

OK.

You'd best turn your thoughts to a soviet style collapse and how to get through that.  Agriculture and distribution come to mind.

 

 

Mon, 10/11/2010 - 13:55 | 641169 davidsmith
davidsmith's picture

No, as I have said since July, it's $7 trillion, with $5 trillion more in the pipeline for spring.

 

And don't forget the stealth monetization!!

 

By the way, wait til you see the drop in California tax revenues.  Word to the wise!!

Mon, 10/11/2010 - 14:30 | 641260 Conrad Murray
Conrad Murray's picture

Regarding the $7,000,000,000,000 figure:

http://www.cnbc.com/id/39557679

Mon, 10/11/2010 - 14:51 | 641311 davidsmith
davidsmith's picture

"U.S. households have $70 trillion in assets," Sumerlin explained during a live interview. "And the Fed essentially needs to buy enough Treasurys and mortgages that you can get a bid on all those other assets. And when you have leakage in the international system it takes a pretty big amount to be successful. To me, it starts to get interesting at six to seven trillion dollars."

 

Sumerlin is OK, but his focus has ALWAYS been too narrow.

 

For example, Americans do NOT have $70 trillion.  Their realistically realizable assets (and remember, it's Sumerlin's premise that we are talking about the real world here) are about $12 to $14 trillion.

 

That's why I say $7 trillion now and $5 trillion in early spring 2011.  Because, once that is done, Americans will have nothing, really, more to loot.

 

And that's what this liquidationist process is all about: it's about looting the middle class.

 

When will we know that it has been successful?  When the unemployment rate for people with a Bachelor's degree or higher starts to zoom.  I'm using the BLS figure here, which said that unemployment in this class (dare I use the "class" word?), actually DECLINED from 4.6% to 4.4% last month.

 

Meaning?  Meaning that the political system is free to loot to its heart's content, because our useless, fascist overpaid clockwatchers are still trudging to their stations.

 

This class of worms is next in liquidation's crosshairs.  They will lose everything they have: house, job, assets.  It will all be taken from them.  And until the process is complete, they will be unaware of it.  Boiling frog or something like that?  Anyway, this group of ants is doomed.  Bye bye.  The garbage can of history awaits you.

Mon, 10/11/2010 - 17:00 | 641691 SteveNYC
SteveNYC's picture

Those numbers would surely crash all markets, currencies, and economies instantaneously. I don't see this happening at all.....

....and in the chance we do, bye bye Bernanke.

Mon, 10/11/2010 - 13:58 | 641174 cossack55
cossack55's picture

Does that mean I will have to repaint my house to like like a FRN denominated at ???  I do have some Zimbab 100 Trillion bills left to us as a template. High enough???

Mon, 10/11/2010 - 14:02 | 641187 LeBalance
LeBalance's picture

With only 5 $1T bullets in his revolver does Ben feel like a MAN?

Can he say, "Well this is a .44 magum intervention and it will devalue our currency by a clean 2%.  You've got to ask yourself one question, do you feel Trichet? Well, do ya [Vlad/Wen]?"

Of course he can't.

Now with a "until the problem is solved" number of undisclosed denominated bullets, he feels like he has the bulge that delivers.

He can sit down with his compadres and not feel light in the drawers.

Mon, 10/11/2010 - 14:22 | 641241 Keri at Bankste...
Keri at Bankster Report's picture

MERS, Citibank, and Ally sued in civil RICO suit:

http://crooksandliars.com/susie-madrak/citibank-ally-and-mers-sued-civil...

RICO--Racketeering-Influenced and Corrupt Organizations act.  A suitable title for all of them!

Mon, 10/11/2010 - 14:36 | 641272 Bob
Bob's picture

 

Courtesy of user Careless Whispers :

 

let's take a look at who owns MERS:

http://www.mersinc.org/about/shareholders.aspx

here's a deposition of an officer of MERS admitting zero employees for the past five years!

http://stopforeclosurefraud.com/2010/08/27/exclusive-mers-deposition-of-secretary-and-treasurer-of-merscorp-42010/

hey, all you wanna be fraudsters, for $95 per month you too can have a virtual office at the same address where MERS has their "global headquarters" with zero employees; 1818 library street, reston virginia 20190

https://www.davincivirtual.com/loc/us/virginia/reston-virtual-offices/facility-848

 

It looks like MERS is a shell corporation founded and operated by the MBS banks.

Mon, 10/11/2010 - 20:50 | 642162 williambanzai7
williambanzai7's picture

Very interesting. MERS is a server farm.

Tue, 10/12/2010 - 05:27 | 642631 gecko_x2
gecko_x2's picture

this guy found the farm:

http://ppinternational.goldtent.net/?p=235968

 

http://www.ebrinc.com/index.html

from the site:

"EBR is a research, development, and analysis company that focuses on supporting efficient and effective decision making. The company uses extensive scientific, technical, and intelligence expertise to develop relevant, insightful, and effective solutions to critical issues. Since its founding in 1987, EBR has completed hundreds of successful projects for government, private sector, and international clients, including better approaches to command and control for coalition missions ranging from warfighting to peacekeeping and disaster relief; acquisition of actionable competitive intelligence; valid and reliable measurement of organizational and institutional performance; modeling complex phenomena such as irregular warfare and future information technology architectures and systems; designing and executing experiments that link emerging ideas to practical innovation; as well as tracking and forecasting political, social, and economic trends."

 

'ranging from warfighting to peacekeeping and disaster relief '

Seems pretty handy for them to have the complete database of US homeowners..

Mon, 10/11/2010 - 14:50 | 641308 ZackAttack
ZackAttack's picture

At the demise of the Weimar, the Germans issued new currency backed with the only hard asset they had...real estate. 

Yep, and French assignats, backed by seized private (church) lands.

This time, Bernanke Bucks will be backed by MBS paper, and nonconvertible.

 

Mon, 10/11/2010 - 14:55 | 641318 davidsmith
davidsmith's picture

Very good, and very good at building up the links showing us the U.S. government's orchestration of the conspiracy

 

TO HIDE BAD BANK DEBT

 

Keep your eye on the ball.  This is what is going on and it is the ONLY thing that's going on.  The rest--HAMP, MERS, MBS--all the rest of it, is a

 

MEANINGLESS FRONT

 

to blow smoke in your face, so that you don't see that what is really going on is a conspiracy

 

TO HIDE BAD BANK DEBT.

Mon, 10/11/2010 - 15:02 | 641334 Bob
Bob's picture

No shit it's a conspiracy of govsters and banksters to hide and shift bad debt onto taxpayers.  I think most of us assume that.  Common sense? 

The tricky part is finding the evidence and spreading the word. 

Mon, 10/11/2010 - 15:03 | 641340 gmrpeabody
gmrpeabody's picture

Does all this mean that I should start a FAZ position in my portfolio?

Mon, 10/11/2010 - 15:30 | 641424 Bob
Bob's picture

Maybe, but my guess is they'll outlaw the inverse ETF's or close down the markets before that bet pays like it should. 

Mon, 10/11/2010 - 16:00 | 641515 Freebird
Freebird's picture

From the Great Transfer of Wealth and other spine tingling tales...

Mon, 10/11/2010 - 16:02 | 641522 Shameful
Shameful's picture

Could even still sell the ownership society.  "See we are the government and the government owns the houses, so we al own the houses!".  But then that is assuming the Fed hands over assets to the Gov after the currency collapse.  Since it's private seems t me that they will walk the good assets out the back door at fire sale prices.  If it works for hte mob...

As to 5 trillion more, yeah that's feasible.  But it won't end, the trigger for the rapid downward move will be the foreigners realizing "My God their self immolating and keep in pouring on the gas...I don't think they are going to stop..." 

Mon, 10/11/2010 - 13:47 | 641151 tpberg7
tpberg7's picture

One currency to rule them all and in the darkness bind them!

Mon, 10/11/2010 - 13:52 | 641162 breezer1
breezer1's picture

 if this is to be the final nail in the coffin then they will need to get another coffin, too many nails in the first one.

Mon, 10/11/2010 - 15:05 | 641347 gmrpeabody
gmrpeabody's picture

ROFLMAO..;-)

Mon, 10/11/2010 - 15:51 | 641483 TraderTimm
TraderTimm's picture

Yeah, sad thing when you start out with a classy walnut coffin, then it ends up being mostly bent stubby nails. The circular tops reflecting enough light to look like a leaden disco-ball.

The next coffin should be something cheaper, perhaps balsa or pine.

Mon, 10/11/2010 - 13:53 | 641166 davidsmith
davidsmith's picture

When will you realize that this entire fraud scheme--from commercial real estate to residential real estate, from HAMP denials to robosigning--is designed to do one thing and one thing only:

 

HIDE BAD DEBT ON BANK BOOKS.

 

Wait til depositions bring out the fact that this was directed entirely from the top.  Like my friend said who used to work at Wells, after a certain point the bank was crawling with treasury agents.  The entire thing is a conspiracy to defraud directed right from the top.

 

Wait and see.  You mark my words.

Mon, 10/11/2010 - 14:06 | 641196 greyghost
greyghost's picture

well there is another good point....this is why when growing up...THE LIE...THE COVERUP... was always far worst than whatever rule you broke! the punishment was always far worst

Mon, 10/11/2010 - 15:42 | 641460 eatthebanksters
eatthebanksters's picture

Eat the Banksters!!!

Mon, 10/11/2010 - 13:54 | 641167 LeBalance
LeBalance's picture

The analogy of an infinite number of dominoes struck and falling.  Each one carrying with it enough financial momentum to topple countries, but magically never encountering the effect plane.  Magically levitated by the power of sweet nothing.

To join its brethren in purgatory awaiting the death of confidence.

And who knows when that date is?  It is planned surely as then the propagandic floodgates shall blare their Black Swan Song.

War, Bust, Famine, .....

And William Shatner shall overact and call for .... More Power....  More Power to Me or You are All Dead.

The world's dumb masses (dum asses) will respond: "Anything, Save US!"

/excuse me I need to pray to the porcelain god, on knees yet./

Mon, 10/11/2010 - 13:56 | 641171 chet
chet's picture

Remember when people used to go to jail for doing illegal stuff?

Mon, 10/11/2010 - 14:09 | 641203 Bob
Bob's picture

They still do, in record and world-leading numbers.  It's just that they're the incompetent petty criminals. 

Mon, 10/11/2010 - 15:18 | 641390 RockyRacoon
RockyRacoon's picture

It's not what you do but who you are.  But that hasn't changed much has it?

Mon, 10/11/2010 - 13:57 | 641173 firstdivision
firstdivision's picture

TD,

you forgot to highlight the best part, that made me laugh

This product addresses the longstanding industry problem involving missing or improperly recorded assignments, while also substantially streamlining the overall loan transfer process.

Mon, 10/11/2010 - 15:31 | 641427 Bob
Bob's picture

That was a real gem. 

Mon, 10/11/2010 - 13:58 | 641175 Rodent Freikorps
Rodent Freikorps's picture

I'm not paying for this.

I will not comply.

Mon, 10/11/2010 - 14:00 | 641182 greyghost
greyghost's picture

wow...i was asking the other day about the cre market and their paper work. looks like another bad day at blackrock[not the company for the kids out there].  was watching the lame street media earlier, they are not even scratching the  surface yet. one lady was all a flutter about the florida forclosure condo she was buying was halted...not a word about the possiblity the deed might be tainted or that a title company might not want to touch this with a ten foot pole.......clueless in florida!!!!

Mon, 10/11/2010 - 15:45 | 641464 eatthebanksters
eatthebanksters's picture

Most lame stream media reporters aren't smart enough to reallyunderstand what's going on...CNN is at the top of the list...there was some bimbo on last night that basically said the problem would be cleared up in the next couple of weeks...she never even said what the 'problem' was.

Mon, 10/11/2010 - 14:01 | 641183 NOTW777
NOTW777's picture

"Missing interim assignments are eliminated"

how?  by ignoring them?

w/o assignments there is no legal transfer and or gaps in chain of title

Mon, 10/11/2010 - 14:02 | 641186 Rusty_Shackleford
Rusty_Shackleford's picture

All the more reason for SRS to continue it's journey to zero and REIT's to rally.

Mon, 10/11/2010 - 14:10 | 641209 Bob
Bob's picture

Surreal indeed.

Mon, 10/11/2010 - 14:18 | 641233 scatterbrains
scatterbrains's picture

I'm confused.. could it mean the reits might stop making mortgage payments until they figure out who they owe ? That would be bullish no ?

Mon, 10/11/2010 - 14:28 | 641255 breezer1
breezer1's picture

yes.

Mon, 10/11/2010 - 14:51 | 641310 ShankyS
ShankyS's picture

Until the blaoon payment comes due.

Mon, 10/11/2010 - 14:05 | 641195 win
win's picture

Wonder what this will do to GDP

Mon, 10/11/2010 - 14:14 | 641222 Bob
Bob's picture

Just wondering if MERSCommercial is run out of the same post office box that their Residential arm is? 

Mon, 10/11/2010 - 15:47 | 641469 eatthebanksters
eatthebanksters's picture

Isn't their mailing address in Louisiana, right next door to the former ACORN World HQ?

Mon, 10/11/2010 - 14:15 | 641227 Milestones
Milestones's picture

The entire world is now straight out of looney tunes. I suggested that B9D9 do a comic book of yesterdays drawings--man talk about undershoting the mark!!

I have been banging in and around this world for some time but never in my wildest smoked up dreams could I have put something like what has happened in the last 5-7 years together. The Wizzard of Oz couldn't top this.   Milestones

Mon, 10/11/2010 - 14:18 | 641232 gwar5
gwar5's picture

More and more bad news. It looks like things will go south pretty quickly. Word is getting out and going mainstream and won't be long before they cause run on run on banks/dolllar

Do NOT follow this link or you will be banned from the site!