This page has been archived and commenting is disabled.
Very Vocal Hearing On Mortgage Services And Foreclosure Practices In Process
A very agitated hearing on mortgage services and foreclosure practices is currently in process on CSPAN. Lots of screaming going on.
The docket is here:
Hearing on: Foreclosed Justice: Causes and Effects of the Foreclosure Crisis — Part II
Wednesday 12/15/2010 - 10:00 a.m.
2141 Rayburn House Office Building
Full Committee
By Direction of the Chairman
Hearing Documentation
Related News
No related news available
h/t Karl Denninger
»
- 8454 reads
- Printer-friendly version
- Send to friend
- advertisements -
She let them have it with both barrels. Good stuff.
Full replay here.
For some odd reason, my HD is making new highs for the move. I'm very tempted to dump it, but I think there is a continuing rotation out of the high P/E tech stocks and into low beta Dow stocks.
The MSM and J6P only care about the Dow, if there is any link to perception of economic health anymore (I don't think there is - and in fact I would argue it's a negative correlation now as J6P feels Wall Street is leaving them further behind). So a move in Dow stocks is a cheap way to get to "2-year highs" being trumpeted on CNBC.
p.s. I've been watching the move in the mo-mo stocks in the last couple of months, rotate in and out, rinse and repeat. I have to believe there are some late night hedge fund meetings some where...
HD & Lowes is where the new jobs will be created when principal writedowns are finally taken.
Is that a guy or a woman?
Its a "Pat"
ROTFLMAO!
That is Don King's younger, ummm, uh -- sibling....
Shame on you! No man is that ugly.
Lots of righteous screaming and justified anger. Everyone who is awake knows what is happening but nothing is being done. Fannie and Freddie will be stuck with the bill. Translation the American taxpayer will be stuck with the bill.
That black woman lawyer hammered BoA big time! Not one stutter or waiver of vocal conviction.
some of those banker-paid-for committee members were hiding under the desk. if anyone taped her testimony, please post, it would probably go viral.
and please don't delete the part where she beats the shit out of them
Vanessa Fluker is my new hero. Damn, she is just relentless.
http://www.moratorium-mi.org/
WOW ghetto attorney vanessa fluker was awesome
This Utah law professor is DESTROYING MERS!
.
You guys are armchair anarchists. This circus is for your consumption. It's in the playbook, 'let J6P vent.'
No change.
After all: "What is an Attorney?" !!!!!!!!!!
just waiting for the chairman to discuss guam
Could be the hearing tipping point.
+100 (nice assist!)
Holy crap it IS him!! Run for the life rafts!
Now you know what a garbage pail kid looks like when it grows up.
This is some amazing stuff. I can't believe this hasn't caused a revolution yet, tbh.
It will be interesting to see what the network evening news programs do...or do not do...with this testimony.
I have a friend on the BP oil spill commission for the President right now. Very bright guy law degree and a PHD in biology. For 5 minutes my faith in the system was restored hearing he was working on such a project.
Than after my delusion subsided, I realized what group of clowns and corrupt charlatans the report was going to, at that point my faith in the system went back to where it was before he told me he was working. Not a political guy either.
Because no matter how logical, reasoned, and fair my friend is in his report. I doubt the current administration nor the US congress has the reading level required to read what the commission writes on the cover page summarized at a 12th grade reading level.
Your assuming they're going to ATTEMPT to read it? They don't even read the bills they vote on for Gods sake.
Good point. I though maybe one or two of them might read it on the shitter.
They have to pass them so they can see whats inside. Pelosi
http://www.youtube.com/watch?v=hV-05TLiiLU
Damn...James Brown got fat!
if this doesnt/hasnt start a revolution , i am sad to say NOTHING i can see happening in the future will......I can think of nothing more than fraud against a homeowner (who most likely wants nothing more than to be left alone in the life) and allowing the banks to foreclose against their biggest asset (or probably now a liability) but more importantly their shelter for their families safety and well being ......IF THIS DOESNT MAKE PEOPLE RISE UP , NOTHING WILL !
You Americans are a pretty sad sight to behold.
Yeah. We are getting way too European.
Old Europe, as usual, is going to whine until America shows them the way out.
What can we learn from a "non-American" who uses our worthless Fiat symbolism as an avatar?
We learn of his sense of low self worth...or the aproaching lower worth of his currency [guessing Euro], as the EUR/USD is now fully leaning over the railing and preparing to blow some nasty.
That would be the Shekel, and the ILS/USD has been doing great, thanks.
http://www.cnbc.com/id/24431073/
Yeah? How's that Austerity thing going for you?
Being an Israeli, great, thank you very much.
Ok then, how's that whole occupation thing working out for you?
I am Chumbawamba.
Lol
Very well, thank you. Just don't get me started about the Native Americans - mind returning the USA to them?
So your only defense is immoral equivalence?
I am Chumbawamba.
Your hypocrisy was so blatant that it came to mind rather quickly.
Unlike yourself, Jews at least have some sort of half decent excuse in returning to the land they believe to be their ancient homeland. You can disagree with it, but that was the reason.
In comparison - what was the reason of the american settlers for coming to America murdering Indians en masse? Lebensraum, nothing more.
In addition, Israel actually treats the Palestinians better than any other Arab nation. So we might have done harm, but we are doing our best under the circumstances.
if ALL the Jews went back to Isreal, most of the problems of the world would go away as well
Pretty compelling testimony regarding property law transfers predating our constitution. US foundational tenets have been stood on their head by MERS which is at the heart of our current financial crisis.
1. Title = Soul
2. Land / House = Body
3. Promissory note = Spirit
This ethereal Electronic Recordation / Registration System is as nebulous as the soul and spirit it attempts to simultaneously separate and combine. Pretty funny watching legislators trying to wrap their heads around it though.
It took the destruction of the temple in AD70, and with it property recordations that now prevent any of God’s people from tracing direct lineage to ancestral real estate property rights. MERS may very well be the catalyst for US property rights disintegration that Rome was then. imo
And yes, the oral tradition in my family has a great great grandfather of Scottish descent "taking up with an Indian woman". I'm a True American mutt.
"Israel actually treats the Palestinians better than any other Arab nation"
Is that because of or in spite of Israel standing in defiance of 69 United Nations Security Council Resolutions? I like chumba's analysis. Why can't both countries' governments be hypocritical criminal bastards working against their own people's interests?
We defied the UN resolution for the same reasons the Americans defied the decrees of the British. We wanted to live free in a country of our own.
Both governments are a bunch of bastards, but ours is at least smaller and easier to hold in check.
at least we agree with the smaller part. And a big part of why your guys are bastards is because they're in bed with our bastards.
People will rise up. It just takes a lot.
Government should get out of the real estate market. End flood insurance and stop loaning money. Let it die a slow death.
You are listening to SHIT HITTING THE FAN.
The markets should be diving ... they aren't ... I must be receiving this transmission from another dimension.
jal
Its all quantum dude, we are re living how good it was before we became extinct.
We are definitely through the looking glass, Mr. Rabbit.
whenever somebody loses patience during a hearing = YOU LOSE.
I hate it whenever somebody goes on like this. If somebody start to act like that when I'm in a meeting, I stop listening and want that person out.
I don't even care what's it about.
BAC for example has nothing to fear from people like that. I bet they are drawing smiley faces on their papers when they see a lawyer like that.
They foreclosed on a house in Detroit? Why? That whole town is worth exactly nothing.
Lot of copper in those old houses.
That's what you think.
http://www.associatedcontent.com/article/5849872/vacant_houses_in_fernda...
All right, fine. Insure them and have a fire. Ben will bail out the ins. co. It's all good.
dayum, that copper must be valuable
The men were arrested in Beverly Hills when police found the piping in the back seat after they'd been pulled over for a traffic violation.
Those two moved on to greener pastures because there's no copper left in Detroit.
You crack me up Buzzsaw.
It is all long gone by now.
I must respectfully disagree. With all of the back taxes, and clearing costs, I think the net present value is massively negative;)
Yep, City of Detroit has been asking for Federal grant money for years to knock down whole neighborhoods. Problem is that a good chunk of it gets stolen by the political machine and its croneys.
Sorry Mr. Hank, its Mr. Deutsch not Mr. Douche
"Lots of screaming going on."
More to come... in the streets.
This is awesome!!
she let all the cats out the bag spelling out the whole sham game
Hey guys, don't forget about this http://www.ritholtz.com/blog/2010/10/full-text-of-letter-to-bofa-from-ny-fed-maiden-lane-freddie-mac-pimco-western-asset-mgmt-neuberger-berman-kore-advisors/
That letter had a 60 day waiting period which is up on 12/18.
here's Deutch's email: DDOS that bitch
tdeutsch@americansecuritization.com
i dont think i ever hated a guy, that i never heard of, quicker than this fat lying scumbag POS
I wrote Wells Fargo a letter 2 months ago asking for a copy of my note, and have received nothing, heard nothing, and don't expect to see anything. Aren't they required by law to send your note? I even emailed Roy Cooper AG of NC, and have heard nothing. have the AG's been bought off now too?
Aren't they required by law
ur a funny guy
Yes, they are required. There is usually another address other than the payment address to send the request to. Check your bill. It should be something like "send qualified requests to...."
http://www.seiu.org/bigbanks/
Here you can generate a proper qualified request under ERISA. Don't put a real email or address in this form though, the SEIU is not your friend. Just generate the letter.
This is perhaps the best so far, the massive fraud is being culled out big time! From Fannie to MERS and beyond.... best.... hearing... to date.
I'm new here and have a question...
I have a morgtage with BOA... :( How do I go about making them prove that they own the mortgage? Thanks
Stop paying immediately.
Please see my post above.
Yes, but what if you have a HAMP agreement with BofA?
Chances are your mortgage is "owned" by either FreddieMac or FannieMae, BofA is just the "servicer".
Very enlightning on MERS bypassing the documenting of records required by law in local areas for many years, thus taking away revenue from the local government. Also banks managed to insulate themselves with the creation of MERS which expedited the raping of American homeowners . Obfuscating the process makes it harder for the homeowner to understand.
Yeah, that came out a couple years ago. Media has been burying it...
And of course the point of all this overwrought boo-hooing is to try to convince you to pay for them to live in houses they can't afford.
Go for it you gullible leftist dweebs. Drag this thing out and out and out. Not only will the huge backlog of foreclosures take longer to get through, there'll be more of them in the long run after China stops lending the US government money to bail out every single last loser in the whole country.
The government has already bailed out the non-productive industries at the expense of the productive industries.
All of your hyperbole aside, people are entitled to due process. I know right wingers hate the concepts of our founding. Like Christianity, Service to the Country, the 9-11 heroes, you guys talk a shit load about loving things you don't even have a basic understanding of.
China already stopped - a year ago. They are unloading.
That's why we are monetizing....
I thought ZH is all about ridiculing those who don't live within their means. And yet, when choosing between banks and joe shmoe's, TD(or rather, TD's) clearly has his(their) preferences.
IMO, if you bought a house thinking that you can be done with working for the rest of your life, you deserve to be kicked out of your house. How can the society pay sympathy to those financially uneducated but not caring for those who were financially responsible. I am of the latter and I don't feel rewarded so far. What's wrong?
IMO, if you bought a house thinking that you can be done with working for the rest of your life
What?
I thought ZH is all about ridiculing those who don't live within their means
Huh?
I don't think I understand.
Babelfish has trouble translating Martian to English.
That is completely NOT the issue.
The issue is that the banks created an extra-legal entity EXPLICITLY to avoid state real estate laws. They unilaterally rejected the sovereignty of democratic institutions to write laws. This CANNOT BE ALLOWED TO STAND if you want to continue to live in a democratic republic.
The other issue is that they have destroyed the chain of title on millions of properties and thus weakened property rights in the United States. This will have costs and repercussions for decades to come. And it was done so they could make a little more money. This HAS TO BE PUNISHED
not a fair fight.
the match-up, JP Mogan & Goldman's smartest going up against private individuals. Who among you would choose to go into a fight like that. Hell, this whole blog is about just this. ZH has argued the Market is manipulated by the FED & it's stooges, with the advice to readers to GET OUT.
so again i say, not a fair fight & this is why other folks should support this poor soul in Detroit. it's evil when you consider what the Bankers were able to talk this lady into, they should burn for what they did to her.
the solution should be to leave her (read: everyone) in their homes for the rest of her life.
2 cents worth
Kalasend, once the people who have done the indefensible are lined up against the wall, the next in the queue are the defenders of the indefensible.
You clearly don't understand the BIG PICTURE concerning this wholesale mortgage fraud.
Your focus is all wrong. What does it matter to you whether some schmuck gets to keep his house - a place to live, after all - in the face of fraud by the supposed "lender"?
You worry about the "responsibility" of these little people. What about the responsibility of the banksters? The government?
That's the issue. Not what someone else gets that you don't.
Also they've screwed people taking bailout money from taxpayers and saying that they are trying to help people stay in their houses when the opposite is true.
Why don't they accept a partial paymeny from someone when they are in trouble financially?
They took the bailout money but then lie to people and deceive them when it comes to loan modification makng them jump through hoops.
I caught JPM in alie they told me the "investor" on my mortgage doesn't participate in the loan modification program and thereby denied my loan modification although I qualified for it based on my financials(job layoff). I later discovered that was not the truth. I haven't refiled for a modification because I since have increased my income and become employed again.
thanks for a lucid commentary, paz.... I can only scream & rant :)
http://www.c-span.org/Watch/Program/2010/12/15/HP/A/52176/House+Judiciar...
I think he........she.......uh, it broke the camera! Must not have had a powerful enough ugly filter for the Sandra creature shown!
At the end of the video (last 1 minute?) there's some "open mic" comments from one of the attorney's and I heard the words "REMIC's" and "IRS".
Perhaps someone with a better audio setup than mine would care to transcribe them for our entertainment?
deleted by the knucklehead who replied to the wrong question.
Anyone watch the whole video from Cspan? (props to suckapump) No? FF to 2:40ish. "7 trillion......well..........1.5 trillion". Ahem. Most of those people in the room were understandably bored out of their minds at that point.......but........that shrill knows.