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Bank Of America Sends Internal Email Exposing Where The "Occupy" Movement Is Hurting It Most

Tyler Durden's picture





 

While the general media may be ignoring the latest peculiar twist on the "Occupy" theme, or in this case the "occupyourhomes.org", Bank of America is taking it quote seriously. As a reminder, "Tuesday, December 6th is the National Day of Action to stop and reverse foreclosures. The Occupy Homes movement is holding actions around the country in support of homeowners and people fighting to have a home. Find an event near you and join in our day of action tomorrow!. There are actions happening in over 20 cities nationwide. Events are taking place in Brooklyn, Buffalo and Rochester New York; Los Angeles, Oakland, San Francisco, San Diego, San Jose, Petaluma, Sacramento, Paradise and Contra Costa California; Lake Worth, Florida; Atlanta, Fayetteville, and DeKalb Georgia; Chicago, Illinois; Bloomington, Indiana; Minneapolis, Minnesota; Cleveland, Ohio; Denver, Colorado; Detroit and Southgate Michigan; St. Louis, Missouri; Portland, Oregon; and Seattle, Washington." And if you have not heard about today's protest on the conventional media that is understandable: as BAC says internally, this event "could impact our industry." Here are the specific warnings to BAC "field services" agents: i) Your safety is our primary concern, so do not engage with the protesters; ii) While in neighborhoods, please take notice of vacant BAC Field Services managed homes and ensure they are secured; iii) Remind all parties of the bank’s media policy and report any media incidents.

Aside from the superficial implications, what is more important is that the big banks are showing precisely what the weakest links in the system are, and what makes them the most nervous: it is not protesters living in tents in a major metropolitan city: it is protesters disrupting the lifeblood of the broken banking system - the home selling/repossession pathway. Expect many more such protests now that Bank of America has tipped its hand.

 


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Tue, 12/06/2011 - 12:21 | Link to Comment CPL
CPL's picture

Jazz hands!!

Tue, 12/06/2011 - 12:24 | Link to Comment The Deleuzian
The Deleuzian's picture

Happy 91st Birthday Dave Brubeck!!!

Tue, 12/06/2011 - 12:27 | Link to Comment Dr. Richard Head
Tue, 12/06/2011 - 12:44 | Link to Comment NotApplicable
NotApplicable's picture

I'll drink to that!

Tue, 12/06/2011 - 14:53 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

You guys need to get a clue, the Occupiers are a mob of Useful Idiots unwittingly working for people like George Soros.

The enemy of my enemy is NOT my friend, I would have thought a smart bunch like you would have figured this out.

Tue, 12/06/2011 - 15:08 | Link to Comment Cathartes Aura
Cathartes Aura's picture

send Bunk of Amrka your memo - might be a reward in it for you!

Tue, 12/06/2011 - 16:22 | Link to Comment narapoiddyslexia
narapoiddyslexia's picture

Wow! Squatting in BAC Field Services managed homes....

No more camping out!

Did BAC think of this first? 

Or TD?

Tue, 12/06/2011 - 15:30 | Link to Comment AchtungAffen
AchtungAffen's picture

And you're an useful idiot working for people like the Koch Brothers, Ruppert Murdoch, etc...

Wed, 12/07/2011 - 07:34 | Link to Comment thewhitelion
thewhitelion's picture

At first I thought your comment was really stupid, but when you dressed it up with that "enemy of my enemy" shit--WOW!  Really impressive.

Wed, 12/07/2011 - 07:36 | Link to Comment thewhitelion
thewhitelion's picture

At first I thought your comment was really stupid, but when you dressed it up with that "enemy of my enemy" shit--WOW!  Really impressive.

PS  I didn't junk you.  I get unlimited junks at no cost--and your comment still isn't worth one.

Tue, 12/06/2011 - 12:45 | Link to Comment CPL
CPL's picture
Help BAC out by sharing.

Making a pick set
http://www.instructables.com/id/pocket-lock-pick-set/

ascii...the other white meat. Cut and paste into notepad for formating. lol

----
FIRST OF ALL, YOU NEED A PICK SET. IF YOU KNOW A LOCKSMITH, GET HIM TO MAKE YOU A SET. THIS WILL BE THE BEST POSSIBLE SET FOR YOU TO USE. IF YOU FIND A LOCKSMITH WILLING TO SUPPLY A SET, DON'T GIVE UP HOPE. IT IS POSSIBLE TO MAKE YO UR OWN, IF YOU HAVE ACCESS TO A GRINDER (YOU CAN USE A FILE, BUT I T TAKES FOREVER.)
THE THING YOU NEED IS AN ALLEN WRENCH S ET (VERY SMALL). THESE SHOULD BE SMALL ENOUGH TO FIT INTO THE KEYHOLE SLOT. NOW, BEND THE LONG END OF THE ALLEN WRENCH AT A S LIGHT ANGLE..(NOT 90 DEG.) IT SHOULD LOOK SOMETHING LIKE THIS:
#1 \\ \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ \\\\\\ (THIS IS THE HANDLE \\\ THAT WAS ALREADY \\\ (HERE.) \\\ \\\ \\\
NOW, TAKE YOUR PICK TO A GRINDER OR A FILE AND SMOOTH THE END (#1) UNTIL IT'S ROUNDED SO IT WON'T HAN G INSIDE THE LOCK. TEST YOUR TOOL OUT ON DOORKNOBS AT YOUR HOUSE TO SEE IF IT WILL SLIDE IN AND OUT SMOOTHLY. NOW, THIS IS WHERE THE SCREWDRIVER COMES IN. IS IT SMALL ENOUGH FOR IT AND YOUR PICK TO BE USED IN THE SAME LOCK AT THE SAME TIME, ONE ABOVE THE OT HER ? LETS HOPE SO, BECAUSE THAT'S THE ONLY WAY YOUR GONNA OPEN IT.
IN THE COMING INSTRUCTIONS, PLEASE REFER TO THIS CHART OF THE INTERIOR OF A LOCK:
XXXXXXXXXXXXXXXXXXXXXXX\ K # # # # # # \ E # # # # \ Y * * \ H * * * * * * \ O \ L \ E XXXXXXXXXXXXXXXXXXXXXXX\ #= UPPER TUMBLER PIN *= LOWER TUMBLER PIN X= CYLINDER WALL (THIS IS A GREATLY SIMPLIFIED DRAWING) THE OBJECT IS TO PRESS THE PIN UP SO TH AT THE SPACE BETWEEN THE UPPER PIN AND THE LOWER PIN IS LEVEL WI TH THE CYLINDER WALL. NOW, IF YOU PUSH A PIN UP, ITS TENANCY IS T O FALL BACK DOWN, RIGHT ? THAT IS WHERE THE SCREWDRIVER COMES IN. INSERT THE SCREWDRIVER INTO THE SLOT AN D TURN. THIS TENSION WILL KEEP THE "SOLVED" PINS FROM FALLING BAC K DOWN. NOW, WORK FROM THE BACK OF THE LOCK TO THE FRONT, AND WHEN YOU'RE THROUGH..... THERE WILL BE A CLICK, THE SCREWDRIVER WILL TURN FREELY, AND THE DOOR WILL OPEN.
Tue, 12/06/2011 - 13:09 | Link to Comment topcallingtroll
topcallingtroll's picture

YOU CAN BUY PROFESSIONAL LOCKPICK SETS FOR LOCKSMITHS AT AMAZON EBAY AND ALL OVER THE INTERNET.

CHEAP AND MASS PRODUCED IN CHINA.

Tue, 12/06/2011 - 14:09 | Link to Comment astartes09
Tue, 12/06/2011 - 14:53 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

Dopes...

Tue, 12/06/2011 - 13:19 | Link to Comment flattrader
flattrader's picture

http://act.engagementlab.org/event/occupyhomes_D6/search/

To find an OccupyHomes event.

Be there or be square.

Tue, 12/06/2011 - 13:30 | Link to Comment Whatta
Whatta's picture

...and I am having an Occupymypants deal for any phat Kardashians out there!!!

Tue, 12/06/2011 - 14:49 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

You don't fix f-ed up with additional f-ed up.

Tue, 12/06/2011 - 16:01 | Link to Comment CPL
CPL's picture

Any solutions?  No.

 

Shut up and row.  Just pick the boat.

Tue, 12/06/2011 - 12:21 | Link to Comment ZippyBananaPants
ZippyBananaPants's picture

Geithner is leaning forward like he is grunting out a Double Chipolte spicy beef bowl!!

Tue, 12/06/2011 - 12:24 | Link to Comment Calvin Jones an...
Calvin Jones and the 13th Apostle's picture

Maybe this will force BoA to hire people to keep watch over the homes in foreclosure.

Tue, 12/06/2011 - 13:22 | Link to Comment lineskis
lineskis's picture

Here are the specific warnings to BAC "field services" agents: i) Your safety is our primary concern, so do not engage with the protesters;

In the BOA office downtown, the once open counter has just been walled with glasses. BOA is shitting its pants...

Tue, 12/06/2011 - 12:24 | Link to Comment Robslob
Robslob's picture

 

 

As Rodney Dangerfield use to say "Take my home...Please!"

Wait...I think I screwed that up?

 

 

Tue, 12/06/2011 - 12:27 | Link to Comment Peter K
Peter K's picture

It was Henny Youngman's signature line, an it was "Take my wife please".

Roddy's was "I get no respect"

Tue, 12/06/2011 - 12:25 | Link to Comment Peter K
Peter K's picture

The Obama kids trying find a route to relevance:)

Down twinkles bah.....

Tue, 12/06/2011 - 12:25 | Link to Comment LFMayor
LFMayor's picture

It hurts when they pee?

Tue, 12/06/2011 - 12:26 | Link to Comment Pythaes
Pythaes's picture

So today, you have a choice  of a single share of goldman sachs, one barrel of crude oil or 3 ounces of physical silver? All around $100 in one years time, who wants what?

Tue, 12/06/2011 - 12:29 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

I'll take honest money for $100 Alex

Tue, 12/06/2011 - 12:26 | Link to Comment VelvetHog
VelvetHog's picture

Its time for a mass walk-away.  Charge all your credit cards to the maximum then leave your house to the bank and walk off in to the sunset.  Fuck BAC and all the rest.

Tue, 12/06/2011 - 12:44 | Link to Comment J 457
J 457's picture

That's the mindset that caused this economic and housing problem in the first place.  Those that actually own a property typically have a much different opinion.  That is unless you are part of the crowd that decided to buy at the peak in 2006 then take out a HELOC to live a lifestyle you couldn't afford.  Yes, I don't care for BAC either, but I do care about the $$ I'm loosing as my property value goes down because some of my neighbors are deadbeats.

Tue, 12/06/2011 - 12:53 | Link to Comment Deo vindice
Deo vindice's picture

If there was no credit, what would a house be 'worth'?  About 10 cents on the dollar?

I am a homeowner with no mortgage, but if I wanted to sell and could only sell to those with cash, my house would be worth a fraction of what it is.

It is unrestrained credit that has increased the price (but not the value) of my home.

Tue, 12/06/2011 - 13:39 | Link to Comment J 457
J 457's picture

I agree with all you wrote, except perhaps the part about unrestrained credit increasing the price but not the value.  That is a more complicated discussion and would take more than a few paragraphs to explain.  One could argue that home values and credit go hand in hand.

Tue, 12/06/2011 - 17:23 | Link to Comment Deo vindice
Deo vindice's picture

Not sure, but, giving you the beneifit of the doubt, it is possible we may be agreeing on a matter from two different sides of the same question.  However, you are right about one thing; it would take a much more detailed discussion.

I see home 'values' like silver or gold.  Their price has gone up, but has their value?  Not so much. Expressed in terms other than dollars their value  is more or less constant. (Note: I said 'more or less'!)

Tue, 12/06/2011 - 13:14 | Link to Comment topcallingtroll
topcallingtroll's picture

I BOUGHT AT THE PEAK AND PAY MY MORTGAGE ON TIME.

WE ARE ALL FUCKED ANYWAY, DEADBEATS AND RESPONSIBLE ALIKE.

MIGHT AS WELL LEND A HAND TO HELP CRASH THE FUCKER. ITS GOING DOWN ANYWAY AND WE CAN AT LEAST HAVE SOME FUN.

Tue, 12/06/2011 - 13:50 | Link to Comment J 457
J 457's picture

Yes, I agree there is more pain ahead and all will pay a price.  For me personally, I don't want to contribute to the problem- so I try not to.  Interesting perspective thou, and so typical of what we see every day in the US.  On one hand I can appreciate those that bought at peak, are underwater 50%, and see their money going to BAC every month, along with all the other taxpayer support these banks receive thru FED and MBS purchases- toxic asset transfer.... On the other hand, I know that if we "crash the fuckers" any $$ you may still have left in 401k, IRA, money markets, pensions, or cash, will be worth much less. 

So, yea, either way, prognosis is negative.  The boomers legacy is debt, deficit spending, energy dependency, de-industrialization of USA.  I'm Gen X, and I don't want my legacy to be an outright effort to crash the entire financial system.

Tue, 12/06/2011 - 14:15 | Link to Comment MachoMan
MachoMan's picture

As a gen X'er, you're looking at it incorrectly...  your legacy will not be your determination to crash the system, but what foundation is put in place afterward.  We can build another weak foundation or strive for a better one...  No right or wrong answer, and both probably end with the same result, albeit one a little sooner than the other.

We'll probably get to watch our grandkids go through the same thing...  albeit modestly different, but definitely rhyming.

Tue, 12/06/2011 - 14:48 | Link to Comment J 457
J 457's picture

We're thinking alike here. The entire system needs to be purged, its just a matter of how to do it, and how severe the change must be.  Going back to the stone age barter system is not forward prgress, but the financial and political system must be significantly changed from what it is today.  It may very well take a depression to get back to a starting point and build that strong foundation you speak of.

There are some disillusioned kids on this board.  Fact is most couldn't survive a few days without their dad's credit card, free room and board, subsidized government loans for skool, and their XBox.  They are the group that concerns me most, as they have the same mentality as the boomer generation.  Nothing is free.  Remember it.  Where we're at fault is not affording them the same opportunity of past generations. 

Tue, 12/06/2011 - 15:21 | Link to Comment Cathartes Aura
Cathartes Aura's picture

you've got a lot of media memes in your post, I'm afraid.

the "disillusioned kids on this board" is a stinker tho' - how can "they" be simultaneously "playing Xbox in their dad's basement" AND defaulting on their BofA mortgages?

consider that "changing the system" is a massive myth sold to citizens to keep them in a holding pattern while they get thoroughly fleeced BY the system, and then ponder what they'll do with you when you have NO WORTH to them, which is incoming soon.

Tue, 12/06/2011 - 15:43 | Link to Comment J 457
J 457's picture

No, they are two different groups.  Kids, and deadbeats, that is.  The kids are living in dads basement, and the deadbeats are defaulting after living beyond their means and borrowing what they couldn't ever possibly afford to pay back.  They blame it on "the banks" that "gave them" the money for the new BMW while working at TJMax.  It was never a gift, numbskulls.

Tue, 12/06/2011 - 16:02 | Link to Comment Cathartes Aura
Cathartes Aura's picture

there's no reward for letting the media Occupy your mind J.

virtually all of your words are mainstream teevee verbiage. . .

(oh, and by the way, the insult is MOM's basement)

Tue, 12/06/2011 - 16:25 | Link to Comment narapoiddyslexia
narapoiddyslexia's picture

Oh J457, check out this link to Alexa. Look at the "Audience."

Everyone here is an old guy.

Tue, 12/06/2011 - 19:36 | Link to Comment smiler03
smiler03's picture

Define "old"

Tue, 12/06/2011 - 19:01 | Link to Comment Omen IV
Omen IV's picture

457 old old old guy - you need to get life -

the banks committed FRAUD  - end to end  - that is what "cut and paste"  mortgage applications are and synthetic CDO's designed to fail and subsequently shorted in bulk - these practices took a market that would have gone down 20% cyclically to one that went down 50-60% - - at this level the banks deserve NOTHING - especially when it comes to not paying them back and trashing the property to boot  - you had civil disobedience al la 1968 - hell no we wont go - -  

is now  - hell no we wont pay - the kids stopped the draft and then the war in 1970  -  this revolution will happen again and anyone with brains will welcome the coming purge in the system  

Tue, 12/06/2011 - 13:48 | Link to Comment Bananamerican
Bananamerican's picture

"I do care about the $$ I'm loosing as my property value goes down because some of my neighbors are deadbeats"

what a fucking NORM you are, 457...

Your house was NEVER worth "$$"...

Now go crank up that rilly rilly kewl Styx song about how "deep inside we're all the saaaame"

and realize that your dick is only "normal-sized" with a slight leftward bent. Sorry for your loss, Drone.

...and it's "LOSING" ya ignorant internet bastard

Tue, 12/06/2011 - 13:56 | Link to Comment J 457
J 457's picture

Yes, I stand corrected, it is losing.

Homes are worth what price will be paid- market value- you dumb twit. 

You seem frustrated banana, things must not be going your way. 

 

 

 

 

 

 

Tue, 12/06/2011 - 14:00 | Link to Comment Bananamerican
Bananamerican's picture

I'll bet you're wearing a tee-shirt that reads,"I played by the RULES damnit!!" 

Tue, 12/06/2011 - 14:06 | Link to Comment J 457
J 457's picture

If you only knew son, if you only knew......

 

Tue, 12/06/2011 - 17:23 | Link to Comment gina distrusts gov
gina distrusts gov's picture

damn shill for the thieves in the govermet

Tue, 12/06/2011 - 14:56 | Link to Comment Poofter Priest
Poofter Priest's picture

Wrong

Tue, 12/06/2011 - 17:32 | Link to Comment Things that go bump
Things that go bump's picture

You seem to forget the simple fact that, while the principal of all those loans was created at the time of loan origination, the interest never was - thus the snooker.  The con is that as much of the interest as possible is actually collected and when the principal can't be paid the property ends up belonging to the banks in foreclosure.   This whole system is designed to blow at regular intervals.  Some blow ups are going to be worse than others, and this one is going to be the mother of all.  When this one is complete the banks will end up owning all of the real property and anything else of value, including your bank accounts, which will go poof. At this point, anybody with any brains can see where this is going and is grabbing anything they can get before the reset when it all begins again.

Tue, 12/06/2011 - 14:04 | Link to Comment cbxer55
cbxer55's picture

And when you do leave, turn on every frikkin light in the place including those eight 100 watters in the bathrooms. Turn the thermostat up so the heat never goes off during the winter, or down in the summer so the ac runs fulltime. Turn all faucets on and let them run.

Some neighbors just left their home this past weekend, the house is glowing at night.

Tue, 12/06/2011 - 14:30 | Link to Comment J 457
J 457's picture

Another deadbeat bites the dust.  Guess they couldn't handle the responsibility after all.  Although I'm sure they were quite happy to go shopping for their new Hummer and SeaDoo when they had the HELOC and easy credit was flowing.  Maybe instead they should have enrolled in a basic "how to manage personal finance" class at the local JC.  Irresponsibility comes with a price- so now they can go live under a tarp alongside the freeway?  Maybe they can live with you, the smart guy with all the ideas? 

People just don't think things thru anymore.  We're in a country of fools.

When you destroy the home- who pays?  You do.  Who owns the note- probably FHA or FNM. Who is backstopping the GSE's- you are.  Who is backstopping BAC - you are.  Unless you pay no taxes, you will inevitably pay in one form or another.

So when you go to buy your next vidoe game, or whatever it is you buy, and you pay tax for the purchase, you are paying (indirectly) for the damage caused to the home.  Get it? 

Or perhaps the logic is; when you have nothing, you have nothing to lose, so you want to destory everything around you to express your sentiment.  Reminds me of the inner-city ghetto mentality.  Rodney King riots, Katrina riots....that accomplished nothing. 

 

 

Tue, 12/06/2011 - 16:20 | Link to Comment waterhorse
waterhorse's picture

So where do the people who bought what they could afford and then subsequently lost their jobs fit into your narrow categories?

Tue, 12/06/2011 - 18:45 | Link to Comment Omen IV
Omen IV's picture

Ace - #457

so i know a corporation with Balance Sheet  equity of $1.5 billion - that has a subsidiary that defaulted on a RE loan for a strip center and walked - no guarantees /  no cross default - so they did what they did  - because the values and cash flows were upside down

they did what they should do for themselves - so pray tell what is your morality tale on this one 457?

  

Tue, 12/06/2011 - 23:43 | Link to Comment cbxer55
cbxer55's picture

I never said to destroy the home, and they did not. They were good neighbors for many years, with four young children,  who ran into some bad luck. I hated to see them go. They had to file bankruptcy when he was unable to find gainful employment after being layed off. They left the house, but apparently went around the place and made sure every frikkin light was on in the whole place before leaving. Who knows about the gas or water?

I did not say I would like to do this, but if put in the same situation I probably would as a parting shot. My mortgage is up to date and has never been behind, even though I was out of work for 11 months in 2009, and my wife was out of work for 9 months the same year. But it was SO CLOSE to us being in the same situation. Another couple of months and my unemployment was out, no 99 weeks in Oklahoma.

Tue, 12/06/2011 - 14:35 | Link to Comment flattrader
flattrader's picture

I think the whole point of this is to not leave at all.  Get it?  Occupy?

Tue, 12/06/2011 - 14:59 | Link to Comment J 457
J 457's picture

OK Got it. There are zero foreclosed homes in my neighborhood to "occupy" so I'll be there with you in spirit.  But if a home becomes REO, I'll hurry up and let you guy's know so you can dispatch the OWS, rush right over, squat, and fix the place up real nice.  I'm sure you'll be good friendly neighbors and the place will look just like that cool looking park in New York you've taken such good care of. 

Tue, 12/06/2011 - 16:21 | Link to Comment waterhorse
waterhorse's picture

Wow, what a gush of used douche fluid.

Tue, 12/06/2011 - 12:28 | Link to Comment john39
john39's picture

the threat alone is enough to further depress the housing market and the price someone might be willing to pay for a foreclosed house.   also makes it increasingly difficult for banks to sit on empty foreclosed properties.  Seems like OWS is getting smarter...

Tue, 12/06/2011 - 14:11 | Link to Comment flattrader
flattrader's picture

http://act.engagementlab.org/event/occupyhomes_D6/search/

In my urban dwelling days, a number of citizens occupied/squat in homes that had been abandoned and returned to the city for back taxes.  The city had these for sale at riduculously high prices compared to the need for costly rehab to bring them up to code.

A number of my friends decided to squat, clean up the homes, help the neighborhood...etc...

The city was furious and ordered the the housing inspectors and police to cite and evict.  Oddly, the inspectors and cops couldn't mange the citations or evictions as those homes had no addresses posted on them...not to metnion the new squatters were better than the old drug dealers who would party in the vacant homes.  The neighbors thought so too and everyone felt safer...including the building inspectors and cops.

After a few "occupy" events covered by the media, the city quietly "sold" the properties to the "squatters" for a fraction of what they were initially asking.  Everyone involved was told to never speak of it again.

And...they all lived happily everafter.

Tue, 12/06/2011 - 14:16 | Link to Comment 11b40
11b40's picture

Yes, OWS is getting smarter and more focused.  I hope they will stay that way.  Them, along with their counterparts in the Tea Party, have changed the dialog in America.

Right now, the House is debating a bill to make it illegal for Congress and staffers to trade on inside information.  This is not because they WANT to do this, but because they have been called out on it.

All around the country, there is also a movement at local levels to call out the Supreme Court and Congress on campaign finance laws and an attempt to re-evaluate and change the way corporations are treated as "persons".  We still have the power to force change, but the operative word is "force".  It does not have to be through violence; only civil action is required.

http://www.huffingtonpost.com/2011/12/05/move-to-amend-la_n_1129725.html

 

Tue, 12/06/2011 - 14:33 | Link to Comment flattrader
flattrader's picture

>>>Right now, the House is debating a bill to make it illegal for Congress and staffers to trade on inside information.  This is not because they WANT to do this, but because they have been called out on it.<<<

STOCK Act.

http://insidertrading.procon.org/view.resource.php?resourceID=004520

112th Congress - Senate                                                  S 1903 (Nov. 17, 2011) Summary No summary available as of Dec. 1, 2011 Sponsor Kirsten Gillibrand (D-NY) Co-sponsors (12 D, 3 R) Max Baucus (D-MT), Richard Blumenthal (D-IL), Sherrod Brown (D-OH), Benjamin Cardin (D-MD), Richard Durbin (D-IL), Mike Johanns (R-NE), John Kerry (D-MA), Amy Klobuchar (D-MN), Claire McCaskill (D-MO), Bill Nelson (D-FL), John Reed (D-RI), Marco Rubio (R-FL), Olympia Snowe (R-ME), Debbie Ann Stabenow (D-MI), Jon Tester (D-MT) Status Nov. 17, 2011 - Read twice and referred to the Senate Homeland Security and Governmental Affairs Committee
Tue, 12/06/2011 - 19:45 | Link to Comment smiler03
smiler03's picture

Interesting 

 

Tue, 12/06/2011 - 12:31 | Link to Comment RobotTrader
RobotTrader's picture

BAC is going to be broken up and sold piecemeal.

Merrill Lynch will be bought by Travelers

Southeastern banks bought by SunTrust

Texas banks sold to JP Morgan

All other pieces will be gobbled up by foreign banks.

California banks will be packaged up and brought public as a new bank under a new name.

Probably worth about $12/share

Tue, 12/06/2011 - 12:38 | Link to Comment Johnny Yuma
Johnny Yuma's picture

I agree with this. I've been pounding the table about this for a while as well. You would think there are plans in place to execute them. Wouldn't be suprised if they're finalizing all the takers at this point. They've already split the bank in half between commercial and consumer. Some interesting inclusions were that Merrill's brokerage was moved away from the IB technically to the consumer bank side. This would definitely support your theory of an acquisition by another firm that is looking to establish a brokerage presence. Travelers makes sense among a few others. The deposits will most likely be split up by states as BofA's internal deposit systems vary by state any way which makes perfect sense. U.S. Trust (or whatever is left of it) will probably go to Credit Suisse from what I've heard but who knows. The mortgage unit will be crushed and whatever's remaining will be acquired by another bank as well. The IB and commercial bank side may be a new entity run by Montag. He's been frothing at the mouth for a CEO position for quite some time. 

Tue, 12/06/2011 - 14:29 | Link to Comment 11b40
11b40's picture

They might want to hurry up with their plans.

OWS is packing it up for the winter in most places.  After all, living outside in the cold sucks.  But, then comes spring with all it's glory, and 2012 is a politically charged election year.  If their primary focus somehow morfs into "Bring Back Glass-Stegal", Travelrs might not be the one to buy Merrill ;-).  In fact, what will all these pieces be worth if the license to plunder is removed?

Let's face it.  If enough people become aware of the shitstorm released on the public by this one change in the law 12 years ago, Congress may be forced into action....and it could become a campaign trail issue.  What if OWS types start showing up at every major campaign event with chants of Bring Back Galss-Stegal?  The media becomes forced to cover it, and people become more aware.  Once examined, there is no way for any politician to smear lipstick on this pig and sell it.

Tue, 12/06/2011 - 12:41 | Link to Comment mess nonster
mess nonster's picture

All other pieces will be gobbled up by foreign  Chinese banks.

 

Tue, 12/06/2011 - 12:44 | Link to Comment CvlDobd
CvlDobd's picture

Why didn't you tell me when BAC was at $12 so I could get some at fair value.

I still am waiting for my BSC to get back to the $80 book value all the analysts sai it was worth march 1, 2008.

Tue, 12/06/2011 - 12:44 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Don't start making sense now Robo, the sheeple don't want to hear it and are not used to that side of you.

Tue, 12/06/2011 - 12:49 | Link to Comment Stax Edwards
Stax Edwards's picture

That is exactly what I was thinking.  This is obviously different.

Tue, 12/06/2011 - 14:17 | Link to Comment GrinandBearit
GrinandBearit's picture

He's making fairly logical predictions rather than ridiculous hindsight comments. 

Astounding!

 

Tue, 12/06/2011 - 19:54 | Link to Comment smiler03
smiler03's picture
Well somebody else was going to do it. Captain Hindsight! http://www.youtube.com/watch?v=jyb1KYiFkBM
Tue, 12/06/2011 - 12:45 | Link to Comment junkyardjack
junkyardjack's picture

I'm sure it will all work out in such an orderly fashion like that.  When BAC announces sorry everyone we're bankrupt and the masses collapse on the bank to pull their deposits out, I'm sure everything will be under control...

Tue, 12/06/2011 - 12:48 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Capital controls are already in place.  If you can find someone with money still at BofA, have them try to remove all their funds at once.

Tue, 12/06/2011 - 13:34 | Link to Comment Saro
Saro's picture

the masses collapse on the bank to pull their deposits out

They don't call it the "holidays" for nothin'.

Tue, 12/06/2011 - 12:51 | Link to Comment Stax Edwards
Stax Edwards's picture

Is this just more of the usual vomit you are spewing or do you have reason to believe this is being considered?  

Although more intelligent sounding than usual, my money is on vomit.

Tue, 12/06/2011 - 13:03 | Link to Comment riley martini
riley martini's picture

 Which part gets the billions in fraudulent mortages with the  law suits and which part gets the $trillions in derivitives. Answer The American workers, pensions , c.harities, schools  instutional bag holder . The bonsuses and bribes will go to the best politicians and banksters .

Tue, 12/06/2011 - 15:36 | Link to Comment DaveyJones
DaveyJones's picture

I was thinking more, you take the head, I'll take the kneecaps

Tue, 12/06/2011 - 12:30 | Link to Comment SheepDog-One
SheepDog-One's picture

Cancer of America says to not engage the protestors? The protestors should engage the bank 'field agents' and beat the puddin out of them!

Tue, 12/06/2011 - 12:30 | Link to Comment AngryGerman
AngryGerman's picture

The email is a fake one to be "leaked" to the public.

In the original email it said:

1. Your safety is our primary concern. So stay away when police is called in to pepperspray the shit out the hippie-protesters.

2. While in neighborhoods, please take notice vacant BAC Field Service managed homes and ensure they are secured by running over any protesters in front of these properties. Make sure to back up to finish the job properly.

3. Remind all parties of the bank's media policy and report any media incidents to 0800-796-8448 or email at pressroom@bankofamerica.com, so we can intervene and make sure that any reportings related to the above point 1 and 2 do not make it to the public.

Tue, 12/06/2011 - 12:31 | Link to Comment Johnny Yuma
Johnny Yuma's picture

Pavlov's response?

Tue, 12/06/2011 - 12:36 | Link to Comment Mercury
Mercury's picture

"Where's my free shit at?"

Tue, 12/06/2011 - 13:20 | Link to Comment chunga
chunga's picture

"Where's my free shit at?"

Might I impose on you to watch this nine minute video by Neil Garfield and tell me if it changes your opinion on who is getting "free shit"?

Foreclosure Defense - What You Need To Know

Tue, 12/06/2011 - 14:21 | Link to Comment MachoMan
MachoMan's picture

the teets are sucked at all strata of the socioeconomic ladder...  who is getting the free shit?  Everyone...  some just complain their payments are less than others.  Doesn't change their penchant for prostitution.

Tue, 12/06/2011 - 16:09 | Link to Comment chunga
chunga's picture

Key half ass transcript from the video:

The reason they need a default is they have insurance for a default. They have no insurance for a modification.

And, get this, imagine you could get insurance on your house for the full value...and then you could buy another thirty policies just like it.

They call that leverage. They insured those pools that they knew were going to fail, because they created them to fail...they insured those pools 30 thirty times over.

So, if you had a $300k mortgage...courtesy of the US govt. to AIG and AMBAC, they were paid off 9 million dollars on a $300k mortgage.

That is what they are hiding and why they resist discovery efforts.

Tue, 12/06/2011 - 16:22 | Link to Comment MachoMan
MachoMan's picture

Avoiding answering the question.  Moral legitimacy will only be available to those actors who confess their sins before seeking remedy (aside from the fact that, practically speaking, the margins don't want to join efforts spearheaded by people who were prolifigate or unwitting spenders).  I'm not saying all sins are of equal weight, but don't throw stones...

Again, people are simply complaining that others are getting more...  and are gaming the system better...

Fix the system, cure the equity theory whining.

Tue, 12/06/2011 - 16:59 | Link to Comment chunga
chunga's picture

Problem is...one side of that type of transaction doesn't see a problem with the system. It's perfect.

And with the type of money we are talking about - there is plenty of room in there to persuade anyone with the power to change the system to agree...lol.

Tue, 12/06/2011 - 20:06 | Link to Comment MachoMan
MachoMan's picture

Right, the problem is that the plebs don't advocate for a changed system, only different people at the helm.  I'll posit that neither really materially sees a problem with the system...  just like rampaging greeks...  the system is spectacular...  why must it end?  You mean there's like a bill due n stuff?

Why don't we anticipate problems in advance and act to counteract these negative trends?  An ounce of prevention...

I generally don't care to advocate in favor of our founding fathers (being the racist and elitist pieces of shit many of them were), but one thing they did understand was human nature...  they really got the big picture insofar as how human nature interacts with governance.  Ultimately, the system only works as long as people remain vigilant.  The problem is that the plebs have accepted too small of tribute payments and they made a deal with the devil (changing the rules of the game when the dice are in the air).

But no, you should refine your statement...  the only "problem" the plebs see with the system is that their free lunches aren't big enough...  When I hear people saying "I DONT WANT MY FUCKING SNAP BULLSHIT OR I DON'T WANT TO BE DEPENDENT UPON ANYONE ELSE, I JUST WANT A DECENT WAGE AND I WANT TO WORK ALL DAY, ALL WORK WEEK...  I JUST WANT A LEVEL PLAYING FIELD, WHICH CARRIES NO GUARANTEES," then I'll get excited...  until that day, I'll be waiting for the mob to cross the threshold into my home. 

Wed, 12/07/2011 - 04:18 | Link to Comment StychoKiller
StychoKiller's picture

Can I retain your counsel when BAC/Fannie/Freddie aren't able to send me the note on our house when the last payment gets sent out next October?

Wed, 12/07/2011 - 11:12 | Link to Comment MachoMan
MachoMan's picture

Maybe.  Are you in Arkansas?

 

Tue, 12/06/2011 - 14:37 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

"Where's my free shit at," whined Jamie Dimon in a petulant frenzy.

 

Tue, 12/06/2011 - 12:38 | Link to Comment Mercury
Mercury's picture

Tuesday, December 6th is the National Day of Action to stop and reverse foreclosures. The Occupy Homes movement is holding actions around the country in support of homeowners and people fighting to have a home...

Oh great, here comes the  "housing stamps" entitlement...

Just in case there was any doubt in your mind which end of the less<-----> more government spectrum OWS occupies...

Tue, 12/06/2011 - 12:33 | Link to Comment Deo vindice
Deo vindice's picture

Disrupting the Bank's money flow through the lending / foreclosure cycle is like shutting down the distilleries for an alcoholic.

The bankers are going to get the tremors over this.

Tue, 12/06/2011 - 12:58 | Link to Comment chunga
chunga's picture

Good.

Tue, 12/06/2011 - 12:34 | Link to Comment karzai_luver
karzai_luver's picture

They could do BAC and the country a favor and  burn them all to the ground.

If they start in the right hoods they may get a few banksters on the side.

 

 

Tue, 12/06/2011 - 12:34 | Link to Comment SheepDog-One
SheepDog-One's picture

'This could impact our industry' yea the 'industry' of taking free money and lending it out at interest, the only way these worthless parasites know how to make a living, and that is now americas leading 'industry'...lol pathetic.

Tue, 12/06/2011 - 12:37 | Link to Comment Spastica Rex
Spastica Rex's picture

At Bank of America, safety is job 1.

Tue, 12/06/2011 - 12:48 | Link to Comment SheepDog-One
SheepDog-One's picture

After all, it IS an 'industry'...LOL

Tue, 12/06/2011 - 12:39 | Link to Comment Robslob
Robslob's picture

 

 

Lol...and for the rest of America?

 

www.youtube.com/watch?v=OmOe27SJ3Yc

Tue, 12/06/2011 - 12:42 | Link to Comment lolmao500
lolmao500's picture

I suggest we all post this in OWS forums and spread it around... like to Drudge and FARK.com... and that kind of liberal websites. Make this go viral!

Tue, 12/06/2011 - 12:42 | Link to Comment homer8043
homer8043's picture

I'll just leave this here courtesy of Funny or Die.

http://www.funnyordie.com/videos/a67b43df0c/thanks-bank-of-america

 

Tue, 12/06/2011 - 13:16 | Link to Comment sleepingbeauty
sleepingbeauty's picture

Very well done.

Tue, 12/06/2011 - 12:46 | Link to Comment LongBallsShortBrains
Tue, 12/06/2011 - 12:47 | Link to Comment Shizzmoney
Shizzmoney's picture

Nice to see #OWS finally getting out of the occupy spaces and into the streets.  Occupy the homes, occupy Congress, occupy the streets via marches, and take your money out of these institutions.....then we will see how the establishment reacts to a more pro-active political stance. 

BTW, can't BOA do this over a fucking conference call?  PR 101: Don't acknowledge your opponents/competition in a company wide email.  Jesus Christ what a fail bank, glad I took my cash out. 

Tue, 12/06/2011 - 12:48 | Link to Comment Madcow
Madcow's picture

this could become an enormous jobs program - 

the banks will need to hire tens of millions of armed agents to "occupy" all this distressed real estate and keep the squatters and looters at bay -

Tue, 12/06/2011 - 15:28 | Link to Comment Flocking swans
Flocking swans's picture

There seem to be a bunch on this site that look forward to applying as BOA Brownshirts.

Tue, 12/06/2011 - 15:45 | Link to Comment Cathartes Aura
Cathartes Aura's picture

sounds like more overtime for the police FORCE.

Tue, 12/06/2011 - 12:49 | Link to Comment FreeNewEnergy
FreeNewEnergy's picture

Hey, now, I noticed my home town of Rochester, NY on that list, and am somewhat perplexed because I have already been "occupying" a foreclosed home since August 2009.

Actually, it was in default in August 2009, when I, as executor of my father's estate, decided not to continue paying the fraud-laden Cuntrywide mortgage, moved in to the 1600 square foot home in the suburbs and rented out my shit-hole in the city to a couple who needed a place cheap (they're still paying, thanks to food stamps and disability payments - I love the government).

BofA filed foreclosure against the estate in March 2010. Since then, crickets, and, more recently, they sent a letter - inJuly of this year - addressed to my deceased father (talk about one hand not knowing what the other is doing), saying they are attempting to collect a debt. The letter was full of the boilerplate info that debt collectors must include, and it became clear then, when they stated in the letter - in contradiction to their statements in the foreclosure filing - that they DID NOT hold the note, that the note was held by Fannie Mae (yeah, it will take them another two years to get around to even thinking about this property).

So, if I see any Occupy movers or shakers around here, I'll shoo them away should they alert the BofA field agents to my splendid condition. I am paying the absurdly high property taxes, because, in the absence of a mortgage, it's still a pretty good deal. Some day, I might even hold title to the property, but until then, I tell my friends that I don't own the house, I just "occupy" it. Sure beats paying $650 a month for the next 17 years.

True story, and it continues to get better every damn day.

Tue, 12/06/2011 - 15:17 | Link to Comment Almost Solvent
Almost Solvent's picture

Pittsford? Victor? I know several homes out there ready for foreclosure and the neighbors have no clue. Keeping up appearances and stiff upper lip type stuff.

Once the foreclosures start hitting the ritzy areas and impacting those markets, forgetaboutit.

Tue, 12/06/2011 - 12:51 | Link to Comment LeBalance
LeBalance's picture

one just wouldn't make incendiary comments about these BAC "assets." I "wonder" if they are insured. (and who the counterparty in that contract might be?)

Tue, 12/06/2011 - 12:51 | Link to Comment Raging Debate
Raging Debate's picture

I was sick of the soundbyte style interviews from on the MSM claiming OWS consisting of communists or angry militants defacating on cars. I wanted to know the truth and I wagered a lot of other America citizens did too. So I went and filmed OWS at night (and day after) to get the real scoop for the American people: http://ragingdebate.com/browse-articles/government-and-politics/america-meets-the-occupy-movement . The movie is called America Meets the Occupy Movement. It is an 1:15 minutes.

If Tyler wishes to publish the film directly, feel free to grab the YouTube imbed and publish at your own discrection on ZH or email me at founders@ragingdebate.com .

Kind Regards,

Jason Rines

Tue, 12/06/2011 - 13:15 | Link to Comment chunga
chunga's picture

I haven't watched your whole video yet but it looks like you did a nice job Jason. I'll embed it on Foreclosure Hamlet. It's no Zero Hedge but not bad for a bunch of volunteers.

Tue, 12/06/2011 - 14:04 | Link to Comment Raging Debate
Raging Debate's picture

I appreciate that Chunga. "New Media" still requires some more time conducting the learning curve before we have a normalized digital publishing market.

ZH is a specialized brand site. What I build is MIS utilities, kind of like Ning. But in the barbell economy we have now where risk appetite is low an owner has to do more than one job function. I don't bitch about it because it has been building character that has proven useful and will be even more so over the next decade.

Tue, 12/06/2011 - 12:51 | Link to Comment Seasmoke
Seasmoke's picture

dont let them take your homes that they do not own ....EVERYONE needs to stay in your house and fight.........STOP THE FRAUDSTERS IN THEIR TRACKS

Tue, 12/06/2011 - 12:57 | Link to Comment Temporalist
Temporalist's picture
Euro Crisis Uncertainty Anxious Greeks Emptying Their Bank Accounts

Many Greeks are draining their savings accounts because they are out of work, face rising taxes or are afraid the country will be forced to leave the euro zone. By withdrawing money, they are forcing banks to scale back their lending -- and are inadvertently making the recession even worse.

http://www.spiegel.de/international/europe/0,1518,802051,00.html

Tue, 12/06/2011 - 12:58 | Link to Comment mess nonster
mess nonster's picture

in the Depression, at many forclosure auctions, well-heeled auction goers who were not known by the local populace often found their entrance barred by several large men, who, while leaning casually on axe and shovel handles, informed the erstwhile auction-goers that they "weren't invited", and "if they were smart, they'd go somewhere else".

Meanwhile, inside, the auctioneer's starting prices were met with a stony silence, and as he lowered the price further and further, the silence only grew more intense, until the community allowed the farmer to buy back his own property, debt-free, from the bank, for pennies on the dollar.

That would be an Occupy Movement I could support, instead of a fake Rainbow Gathering of dirty hippies who squat in public places and whine about their student loans.

 

Tue, 12/06/2011 - 13:05 | Link to Comment flacorps
flacorps's picture

You'd need a DDoS attack on a county clerk's auction site. How many homeowners wield botnets?

Tue, 12/06/2011 - 13:13 | Link to Comment NotApplicable
NotApplicable's picture

Most counties (all where I'm from) run the auction on the court house steps.So I'd say the old fashioned way is still effective, although I'd expect a large, militarized police force to aid the banksters.

FYI: Many counties do not even yet have a website, or if they do, it's just an info page on a local ISP's (or some non-profit's) server.

 

Tue, 12/06/2011 - 14:13 | Link to Comment farmerjohn2112
farmerjohn2112's picture

I might know someone who could help with that...

Tue, 12/06/2011 - 14:10 | Link to Comment twotraps
twotraps's picture

Mess Nonster, totally agree.

Tue, 12/06/2011 - 14:11 | Link to Comment Raging Debate
Raging Debate's picture

You didn't watch the movie I posted, did you? There was dirtiness sure but no drugs. Out of a hundred people I spoke with one was intoxicated. No weed smells, no people deficating on cars. The number one complaint was the breakdown of the rule of law and how not one criminal went to jail. The second complaint is on jobs and lack of a living wage. The crowd was a lot different than what I expected.

Tue, 12/06/2011 - 14:43 | Link to Comment MachoMan
MachoMan's picture

And for the deficiency judgment?

Tue, 12/06/2011 - 12:59 | Link to Comment monopoly
monopoly's picture

This looks like a double feature. I will supply the Doritos. Can anyone bring some large bowls?

Tue, 12/06/2011 - 13:07 | Link to Comment flacorps
flacorps's picture

Many of your neighbors are not deadbeats, they just fell a little harder for some of the same things you were told (and believed) whether you acted on them at the time or not.

 

1. Housing will increase in value on an uninterrupted basis.

2. Adjustable mortgages can be refinanced later at a lower fixed rate.

3. Your job is secure.

4. You'll earn more as you get older.

The banks have played a very destructive game, using chimerical "relief" while resisting the one reform that would put a floor under the housing crisis and reap them the most dollars: restoration of pre-Nobelman (1993) cramdown of principle balances for primary residences in Chapter 13.

In fact, the widely-dissemenated rant against this by Rick Santelli on CNBC is what prevented it from passing and what has kept housing in a long, slow grind to the bottom. Nose ... spite ... face ... you get the picture.

Chapter 13 is no picnic for anybody, but it is a reliable means of resolving debt problems.

To uphold my part I have written a book "Debt Hope: Down and Dirty Survival Strategies" that shows people how to minimize the impact of debt and pay back only what can be paid back, while getting the maximum relief possible so they can get back to being a functioning part of our economy.

Tue, 12/06/2011 - 13:26 | Link to Comment thedrickster
thedrickster's picture

"the same things you were told (and believed) whether you acted on them at the time or not."

Well see that is thing, I did not believe these fallacies as I have a brain which was used for independant thought in contrast to that of the Sheeple. I endured countless slights, insults and ridicule from my everyone I know including my dentist and geriatric grandmother. I was throwing my money away, I was not thinking long term, I was ignorant etc, etc.

Well I was fucking right and they were wrong, big surprise, pissing on conventional wisdom is my life's work. So here I am sitting pretty without a penny of debt to my name and a pile of cash & PMs to spend should I now choose to buy my asshole neighbor's McMansion complete with a nice 40% haircut.

The sheep need to feel pain lest they never actually recognize themselves as livestock. While I loathe BAC, Countrywide, GSEs and the pimp politicans that enabled the whole mess, the sheep mustn't get away unscathed. The Sheeple disease is as culpable as any of the aforementioned parties but goes far beyond the housing bubble.

If the sheep get off with a new tranche of moral hazard in their pocket societal ruin is at hand. Stupidity, subservience to authority & corporpate media/branding needs to be punished, not enabled.

Forgiving the principal/trangressions of the Sheeple to spite the banks is a leap into the abyss.

Tue, 12/06/2011 - 14:18 | Link to Comment flattrader
flattrader's picture

I see you are all for administering tough love to the Sheeple so they "learn their lesson."

No tough love for the bankster class?

Perhaps we should call you the-dick-ster ?

You certainly sound like one.

Tue, 12/06/2011 - 14:55 | Link to Comment thedrickster
thedrickster's picture

Obfuscate much? False dilemma much?

TBTF should broken up and allowed to fail. All TARP era bonuses should be clawed back.

As for the Sheeple, sheer the bastards. Perhaps then they will see fit to turn off the TV. As for the "lesson", bet your ass. The lesson is twofold, there are consequences to wanton stupidity and virtually everything you have been taught by TPTB since at least middle school is complete and total bullshit designed to enslave you.

Tue, 12/06/2011 - 15:48 | Link to Comment thedrickster
thedrickster's picture

Five, make that seven assholes have voted it down and yet only one has had the balls to respond.

What say you?

Tue, 12/06/2011 - 16:31 | Link to Comment waterhorse
waterhorse's picture

I voted you down too.  So what?

Tue, 12/06/2011 - 16:49 | Link to Comment thedrickster
thedrickster's picture

Bought at the top I take it? 

Tue, 12/06/2011 - 13:01 | Link to Comment topcallingtroll
topcallingtroll's picture

Politics makes strange bedfellows.

This libertarian tea party sympathiser says ROCK ON OWS!!!

Tue, 12/06/2011 - 13:04 | Link to Comment jimijon
jimijon's picture

I have a great idea!!!!

Seriously... OWS should go to North Dakota

 

http://jimijon.blogspot.com

 

Could cause a real peaceful revolution towards renaissance vs. war.

 

cheers

Tue, 12/06/2011 - 13:09 | Link to Comment Gringo Viejo
Gringo Viejo's picture

...Your safety is our primary concern".....   

funny stuff.

Tue, 12/06/2011 - 13:15 | Link to Comment NotApplicable
NotApplicable's picture

Slightly off-topic, it seems that JPM has an insane investment banker (funny, I would've thought they all were).

http://www.dailymail.co.uk/news/article-2070433/Daniela-Rausnitz-stalked...

Tue, 12/06/2011 - 13:18 | Link to Comment Conax
Conax's picture

Before walking away from some over-priced cardboard shack, make sure you release Igon's collection of molds, spores, and fungus into the basement. Flush some soiled pampers down the toilet, loosen a few terminals in the wall outlets, put a dead carp in the furnace duct, shoot 30 or 40 holes in the roof with a .22,  just do what you can to help the poor bankers. Help them to go down. like they did us.

Time to fight back.

Tue, 12/06/2011 - 15:58 | Link to Comment Flocking swans
Flocking swans's picture

....OR... Don't walk away, get a collection of sandbags, batten down the hatches....and get a bigger gun.

Tue, 12/06/2011 - 13:20 | Link to Comment bania
bania's picture

Recent addition to the email:

4. If you see roving bands of homeowners with rope and piano wire... run.

Tue, 12/06/2011 - 13:40 | Link to Comment williambanzai7
williambanzai7's picture

BAC CHRISTMAS CARD

Tue, 12/06/2011 - 13:56 | Link to Comment DaveyJones
DaveyJones's picture

can I use this for my christmas card?

Tue, 12/06/2011 - 14:22 | Link to Comment williambanzai7
williambanzai7's picture

Yes

Tue, 12/06/2011 - 16:18 | Link to Comment DaveyJones
DaveyJones's picture

can I put Tiny Tim in the window?

Tue, 12/06/2011 - 17:15 | Link to Comment chunga
chunga's picture

...I'm afraid Tiny Tim was sent off to Child Services and they lost the poor little fella.

Tue, 12/06/2011 - 14:25 | Link to Comment swani
swani's picture

Light needs to shine on the crimes of the criminal banking syndicates. Anything and everything that keeps bringing the nation's attention to the crimes that these banks have committed, is a good thing. All Americans should support this.

These banks DO NOT even LEGALLY OWN the properties that they are foreclosing on. They sold many of these off as 'securities' so several institutions are claiming they own these titles, not to mention the fact that by not transferring the titles correctly, the ownership of any new owner could come into question. What an unholy mess.  

Land records and transparency are the foundation of a first world country. What these banks have done to make a buck has destroyed these records and eroded confidence in property titles and property rights. They need to pay and if that means having these foreclosed homes 'occupied' and having to pay to prove that they can kick these occupiers out, well, pay up. 

Tue, 12/06/2011 - 14:54 | Link to Comment MachoMan
MachoMan's picture

I've said it so many times I'm sick of it, but the states are the arbiters of their own recording acts.  If they don't want title to be perverted/unknown, then do not expressly pass uniform law that assignments of mortgages need not be recorded...  simple as that.

As for illegal foreclosures, well, there are plenty of attorneys out there who would love nothing else but to sue the banks after they fuck up a foreclosure...  representing either the original homeowner or the buyer at foreclosure sale...  however, practically speaking, people who have not the resources to pay for a home, likewise, do not have the resources to pay for an attorney...  and, they'll just get another month in the house before being in default and getting another go.

The banks' hands will be forced soon with tax sales...  2 years tops.  And this will have the effect of clearing any liens on the title as well...

Tue, 12/06/2011 - 15:52 | Link to Comment TDoS
TDoS's picture

Yawn.  Are people still dragging out this thoroughly debunked nonsense?  And why is it so popular to play "smartest man on the internet" these days?  Yes, they are useful idiots, and you in your shining brilliance, are sitting at home watching Next Generation DVD's, really sticking it to the man behind the scenes.

Tue, 12/06/2011 - 15:56 | Link to Comment DavidJ
DavidJ's picture
Anxious Greeks Emptying Their Bank Accounts

 

http://www.spiegel.de/international/europe/0,1518,802051,00.html

Tue, 12/06/2011 - 16:21 | Link to Comment swani
swani's picture

Light needs to shine on the cockroaches, more focus is needed on the crimes committed by the criminal banking syndicates. Anything and everything that keeps bringing the nation's attention back to these crimes, is a good thing. All Americans that are outraged by the lawlessness of the financial sector should support this.

Let's remind all who oppose these 'occupations', that the bailed TBTF banks like Bank of America, DO NOT LEGALLY OWN a majority of these foreclosed properties. Most were sold off to investors as 'securities' many, many times over. Several institutions and former owners have 'claims' to some of these titles. By not transferring the titles correctly, as required by law, the titles have been lost, and with the lost titles, the 'ownership' of any new owner could come into question. What an unholy mess and abysmal situation for a new owner to find themselves in, having to sue for 'ownership' after 'buying' a home. 

Proper land records are the foundation of any first world country. What these banks have done to make a quick and dirty buck has destroyed these all important records and eroded confidence in property titles and property 'rights'.

The perpetrators should be made to pay, but since they seem to circumvent the law with the help of crooked regulators ,Attorney Generals and politicians on the take, maybe 'the People' will make them pay by forcing these banks to prove that they 'own' these homes in order to kick the occupiers out.

Pay up Bank of America. Maybe this will be a deterrent, and help to show the crooked that crime doesn't always pay.  

Tue, 12/06/2011 - 16:28 | Link to Comment MachoMan
MachoMan's picture

The courts will ensure the proper party forecloses...  the memo has been spread...  everyone gets it now...  standing will be as common of a defense as failure to fact plead or any affirmative defense...  standard language in any answer.

People have to remember that we have an adversarial legal system...  if you default in court, then you forego your right to complain...  simple as that...  the court has no practical option but to rubber stamp the plaintiff(s)' complaint.

As plaintiffs are finding out though...  if that rubberstamp was obtained through fraud or chicanery, watch out...  judge not happy.  But again, it takes someone actually going to court and speaking up on their own behalf...

Wed, 12/07/2011 - 18:26 | Link to Comment combatsnoopy
combatsnoopy's picture

The best comments are almost ALWAYS at the end of the thread for some reason.  so do we call the nationalized bank house theft "eminent domain"?  

BTW, I DID bring this up with an organizer at Occupy movement.  

AS far as I'm concerned- we should've killed the bailouts, Quantitative Easing, let the banks fail, let the credit default swaps cancel at no charge with everyone.  

And as a settlement, all investors should be pooled as the plantiff entitled to a settlement of sorts where they can decide to either foreclose, reprice, adjust or even rent (become landlords) of the said properties then decide whether and on what terms will the mortgage borrowers do in order to squat/vacate/stay in these houses in the interim.  

 

 

 

 

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