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The Epic Farce Continues - US Attorneys General "Robosigned" A Foreclosure Settlement Which Does Not Exist

Tyler Durden's picture




 

It is only appropriate, and so ironic, that a politically motivated settlement whose purpose is to squash any claims of pervasive defective document fraud (and contract law but just ask GM bondholders about that - it's hardly news) is itself found to be... defective. American Banker reports that the reason why the terms of the so-called historic (just ask the Teleprompter in Chief) foreclosure settlement deal are not public yet, is "because a fully authorized, legally binding deal has not been inked yet." Wait, so America's cohort of AGs just all, pardon the pun, robosigned a piece of paper that does not exist? What next: there is a different Linda Green signature on every page of this yet to be produced document making a complete mockery of the rule of law?

Oh and anyone who had doubts that the settlement, which incidentally is paid for by you, dear taxpayers, in the form of bank bailout cash, of which the banks still owe over $10 billion in some capacity, was merely a political ploy to get taxpayers to fund Obama's reelection campaign by subsidizing squatters with $2,000 per vote in the presidential race come November, using banks as intermediaries to make the administration seem oh so powerful and daring to take on the banks, who in fact are the only ones benefiting from this farce, by holding a gun to the head of the hold out AGs forcing them to sign a piece of paper that does not even exist, this should put all those doubts to rest.

American Banker has the story:

The implication of this is hard to say. Spokespersons for both the Iowa attorney general's office and the Department of Justice both told American Banker that the actual settlement will not be made public until it is submitted to a court. A representative for the North Carolina attorney general downplayed the significance of the document's non-final status, saying that the terms were already fixed.

 

Other sources who spoke with American Banker raised doubts that everything is yet in place. A person familiar with the mortgage servicing pact says that a settlement term sheet does not yet exist. Instead, there are a series of nearly-complete documents that will be attached to a consent judgment eventually filed with the court. That truly final version will include things such as servicing standards, consumer relief options, legal releases, and enforcement terms. There will likely be separate state and a federal versions of the release.

 

Some who talked to American Banker said that the political pressure to announce the settlement drove the timing, in effect putting the press release cart in front of the settlement horse.

 

Whatever the reason for the document's continued non-appearance, the lack of a public final settlement is already the cause for disgruntlement among those who closely follow the banking industry. Quite simply, the actual terms of a settlement matter.

 

"The devil's in the details," says Ron Glancz, chairman of law firm Venable LLP's Financial Services Group. "Until you see the document you're never quite sure what your rights are."

 

"It's frustrating," agrees Stern Agee analyst John Nadel. "But it's not unlike anything else that's been going on in financial reform generally, is it?"

That's about right - ever since America became a centrally planned, communist, banana republic with occasional fascist overtones, financial reform in the US is all about frustration: primarily frustrating one out of the will to continue living in a country that would make Stalin green with envy.

American Banker asked The Department of Justice, the Department of Housing and Urban Development, and the offices of Attorneys General in Iowa, North Carolina and Colorado for a copy of the settlement last night. Only Iowa, North Carolina and the Department of Justice have responded, saying that the document would not be available until it is filed with the court on a yet-undetermined date.

Kidding aside, can the bankers who are getting "punished" as part of this deal, please advise the public and the AGs who punished them, just when they plan on releasing the final draft?

All we can say is: Linda Green.

 

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Fri, 02/10/2012 - 16:04 | 2147303 transaccountin
transaccountin's picture

#Winning!

Fri, 02/10/2012 - 16:13 | 2147350 redpill
redpill's picture

Maybe Linda Green is a vampire squid with 15 tentacles and each one writes a bit differently?

Fri, 02/10/2012 - 16:22 | 2147402 LuKOsro
LuKOsro's picture

Doesn`t matter, had mortgage.

 

http://journey-to-alpha.blogspot.com/

Fri, 02/10/2012 - 16:31 | 2147447 Upswaller
Upswaller's picture

All tyranny needs to gain a foothold is for people of good conscience to remain silent.
--Thomas Jefferson

Fri, 02/10/2012 - 17:08 | 2147598 Max Fischer
Max Fischer's picture

 

 

I think it's also important to remember Rick Santelli's rant from a couple years back, which popularized the Tea Party movement.  Struggling middle class families who can't pay their mortgages are "losers." 

Apparently, deflecting the blame away from Wall Street and onto the middle class "losers" really resonated with the Tea Party. They loved it! That rant was the initial spark which flamed all sorts of class warfare rhetoric that ensued afterwards; it got the Tea Party all fired up, like marching orders to go hate everyone.

Fucking Losers! Go Rick!

Identifying the losers is the first step to understanding the foreclosure crisis.  Go Tea Party!

 

Fri, 02/10/2012 - 17:35 | 2147691 zorbathefreak
zorbathefreak's picture

Keep smoking that schwag, homegirl!

Fri, 02/10/2012 - 18:27 | 2147850 Max Fischer
Max Fischer's picture

 

 

I prefer the opium dens in Bangkok and Hong Kong.  I'm there 3 times a year. 

Funny story actually..... in 2005, I was smoking some gooey black tar in a whore house in Bangkok, when a whole group of bankers from Julius Baer, HSBC, and CSuisse walk in.  Apparently, they were having some sort of conference for operations in SE Asia.  Smoked opium with them, got some hookers.......good times. lol  True story.

Max Fischer, Civis Mundi

 

 

Fri, 02/10/2012 - 18:34 | 2147873 AldousHuxley
AldousHuxley's picture

Keep it up. transparency will expose the corrupt elite.

 

Banks try so hard to appear prestigious. Real story is bankers, banking, wall st.  is just all big SCAM! go back to being a government job.

Fri, 02/10/2012 - 22:18 | 2148466 A Nanny Moose
A Nanny Moose's picture

You used whore house and Bankok in the same sentence...Beavith.

Fri, 02/10/2012 - 17:38 | 2147705 tmosley
tmosley's picture

Imma get dat bitch some class warfare.  Bitchez love class warfare.

Sun, 02/12/2012 - 07:04 | 2150518 foofoojin
foofoojin's picture

Where does that play of words come from? I only know the "get that bitch a canon, Bitches love canons!" from the Hellsing parody.

 

NSFW link to the Hellsing parody that makes me laugh till I cry. contains animated violence and amazingly awesome prose intermixed with a lot of f-bombs and graphic language.  http://youtu.be/5uIVkhtU1Ls

Fri, 02/10/2012 - 18:00 | 2147762 Payable on Death
Payable on Death's picture

Max, sorry you made a bad home deal. Please tell us about it. Explain how you need or deserve OPM.

(BTW, the banks should be BK and banksters in jail, IMHO. Whether they are or aren't does not change the culpability of borrowers who entered bad home deals.) 

Fri, 02/10/2012 - 17:15 | 2147630 NotApplicable
NotApplicable's picture

"The devil's in the details," says Ron Glancz, chairman of law firm Venable LLP's Financial Services Group. "Until you see the document you're never quite sure what your PRIVILEGES are."

FTFY!

So I went to the pretend website (http://www.nationalmortgagesettlement.com) to see all the pretty graphics and saw the happy white people tossing their daughter to the street. Then I wondered, just how long has this thing been on the table? So I go over to NSI and look them up (http://www.networksolutions.com/whois-search/nationalmortgagesettlement.com), and see that the domain was registered on 2/1/12. JIT propaganda!

Then there's the registering company, "Moniker Privacy Service" which is out of Pompano Beach, FL. Looks like they're keeping the cover-up op very near the scene of the crime. Must be a family operation, no?

Fri, 02/10/2012 - 17:41 | 2147716 kaiserhoff
kaiserhoff's picture

I thought you and Tyler understood.  This is the new Nancy Piglosi kind of law.

First you sign on the dotted line, then the nice Chicagah thugs decide what you just signed up for.

Fri, 02/10/2012 - 18:10 | 2147802 Obadiah
Obadiah's picture

Good call NA good research!!

Fri, 02/10/2012 - 18:10 | 2147804 Sauk Leader
Sauk Leader's picture

They didn't even spend the money for a higher quality photo of "Cute Young Couple and Child with Beautiful Home"

 

http://www.istockphoto.com/stock-photo-18582809-cute-young-couple-and-child-with-beautiful-home.php?st=01c3d85 

Fri, 02/10/2012 - 22:28 | 2148479 rookie
rookie's picture

Your post is why I love zerohedge...thanks...unbelievable!

Sat, 02/11/2012 - 10:30 | 2149045 FreeNewEnergy
FreeNewEnergy's picture

Nice work, NA, but, just for the record, Moniker is a straight-up organization, a solid registrar (I have five domains registered with them) with excellent prices and great customer service.

Actually, choosing them as registrar was a rare good choice by the boyz from .gov.

Fri, 02/10/2012 - 17:16 | 2147633 three chord sloth
three chord sloth's picture

Foothold? More like stranglehold.

Fri, 02/10/2012 - 18:03 | 2147777 NotApplicable
NotApplicable's picture

I got you in a stranglehold, baby.

And then I crushed your face!

Fri, 02/10/2012 - 17:17 | 2147637 Cole Younger
Cole Younger's picture

Yep...but I don't see Congress (democrats or republicans) complaining or doing anything about this. Tells you where there loyalties lie...with the campaign financers...

Fri, 02/10/2012 - 20:52 | 2148234 PulpCutter
PulpCutter's picture

Uhhhh - no.

Actually, Obama vetoed it, and his veto stuck.  Congressional Republicans voted 167 for, 5 against, in unsucessfully trying to overturn his veto.  Look up HR3808.  That's why it came down to a negotiated agreement with the various state's attorneys general.  Congressional Republicans wanted to give the bankers the pass for free.

Democrats are corrupt, yes, but the GOP is way worse.  There is a difference, and if you ignore it in your voting, you're sending the signal that corruption doesn't matter to the voters.

http://clerk.house.gov/evs/2010/roll573.xml

John Boehner and his GOP made this happen, for their banker buddies.  I'm sure he had a good cry about it first, though.

http://www.creditwritedowns.com/2010/10/hitler-finds-out-obama-wont

Fri, 02/10/2012 - 17:31 | 2147680 Silver Bug
Silver Bug's picture

Wow they just make themselves look worse and worse everyday.

 

http://ericsprott.blogspot.com/

Fri, 02/10/2012 - 16:29 | 2147437 johngaltfla
johngaltfla's picture

She just has to be related to Lloyd somehow. Or the Bernank. It wouild explain everything.

But I thought the M.I.B. crew kept them all contained to NYC?

Fri, 02/10/2012 - 17:15 | 2147627 Stuck on Zero
Stuck on Zero's picture

Linda Green for President.

Fri, 02/10/2012 - 17:38 | 2147704 TruthInSunshine
TruthInSunshine's picture

This isn't about 'free houses.'

Any person with an IQ above 80 knows that they need to pay their bills for items they purchase.

There is an element of priority at stake, which trumps the sentence above - i.e. in other words, could even reward deadbeats, because it's that important.

What is this element of priority at stake?

It's called the rule of law.

Can fabricating documents from wholecloth or materially altering documents pertaining to real property, fraudulenty signing those fabricated documents, thus swearing under penalty of perjury that one is a bona fide owner of title to real estate, not only be able to pass without civil and criminal sanctions, but be allowed to pass AND be given legitimacy, ex post facto?

If so, what other things can/will be treated in such a manner, now and in the future?

Fri, 02/10/2012 - 17:49 | 2147739 WonderDawg
WonderDawg's picture

FTMFW! Couldn't have said it better myself, TIS.

Fri, 02/10/2012 - 18:09 | 2147798 blindman
blindman's picture

http://www.youtube.com/watch?v=_NAR6rrA-Vw&feature=related
Ralph Nader talks with Andrew Napolitano part 1

Fri, 02/10/2012 - 20:59 | 2148279 MsCreant
MsCreant's picture

Like MF Global, it's all that matters. Trust is gone for any one with two or more brain cells functioning.

It's really sad.

Sat, 02/11/2012 - 04:20 | 2148856 The Navigator
The Navigator's picture

Laws and Taxes are for Peons and Peasants.

Just ask Jon ($1.2Billion in customer trust funds "VAPORIZED") Corzine, CONgressman Charlie (oops I forgot about that rental income) Wrangle, Timmah (I don't know how to work TurboTax) Geithner, GE Corp (made $7+ billion, paid no income tax), Leona ("We don't pay taxes. Only the little people pay taxes") Helmsley, former South Dakota Senator Tom (didn't file and pay taxes of $128,203 from 2005 thru 2007) Daschle. You all get the point - now sing in chorus, Baaaaaaa, Baaaaaaaa and let your owners slip your hind legs into their boots.

RULE OF LAW????? The only rule of law we will ever know is having our guns and gold confiscated when Homeland Security takes us away in the middle of the night, with accusations of terrorism for posting on ZH.

Our Homeland has been hijacked by thugs and gangsters, and that's our government.

I look forward to meeting you all at the newly expanded GITMO facilities.

Fri, 02/10/2012 - 16:31 | 2147446 carbonmutant
carbonmutant's picture

The "Henrietta Lacks" (HeLa) of mortgages...

Fri, 02/10/2012 - 16:38 | 2147475 a growing concern
a growing concern's picture

You gotta laugh at the Brent Bagley one.  The first one is clearly left-handed, and all the rest are right-handed.  For the love of God, when can we start the public executions?

Fri, 02/10/2012 - 17:14 | 2147619 fonestar
fonestar's picture

Modern bankers and the polital elites are very busy people.  They cannot be trifled with legacy-legalities such as physically signing something.

 

/sarc

Fri, 02/10/2012 - 20:11 | 2148142 Archon7
Archon7's picture

Or maybe a vampire squid with multiple personalities?

Fri, 02/10/2012 - 16:17 | 2147378 macholatte
macholatte's picture

 

 

During times of universal deceit, telling the truth becomes a revolutionary act.
George Orwell

A dreamer is one who can only find his way by moonlight, and his punishment is that he sees the dawn before the rest of the world.
Oscar Wilde

A government that robs Peter to pay Paul can always depend on the support of Paul.
George Bernard Shaw

America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.
Abraham Lincoln



 

Fri, 02/10/2012 - 16:21 | 2147398 Shocker
Shocker's picture

Wow that really opens your eyes a little.

Great Post ZH, really makes you step back and say WTF.

Amazing all this mess was created, and now everyone has to pay for it, on every level

http://www.dailyjobcuts.com

 

Fri, 02/10/2012 - 17:05 | 2147585 Precious
Precious's picture

BARACK OBAMA WILL BE REMEMBERED FOR ...

THE MOST CORRUPT ADMINISTRATION IN THE HISTORY OF AMERICA

 

When you consider your vote this fall, you are not just voting against Obama.

You are far more importantly voting against all the liberal stooges in his sick administration starting with the DHS and DOJ.

Fri, 02/10/2012 - 17:24 | 2147641 PulpCutter
PulpCutter's picture

How clueless can you get?  The GOP led the charge on this mortgage fraud settlement.

Obama vetoed the bill, and made it stick.  Republicans in the House voted 169 for and 5 against, in trying unsucessfully to override his veto.  http://clerk.house.gov/evs/2010/roll573.xml

John Boehner and his GOP made this happen, for their banker buddies.  I'm sure he had a good cry about it first, though.

http://www.creditwritedowns.com/2010/10/hitler-finds-out-obama-wont-sign-hr3808.html

Your wetdream Romney is being brought in to do for America what he did for every company that Bain bought - stuff all the loose cash in his pockets, drop everyone down to minimum wage, load the place up with debt, and leave town.

Fri, 02/10/2012 - 17:28 | 2147667 NotApplicable
NotApplicable's picture

I was wondering where you've been. What's the matter, get tired of your drum circle?

Fri, 02/10/2012 - 20:51 | 2148248 PulpCutter
PulpCutter's picture

Wow - you can't even construct the vaguest shred of a logical counterargument, can you?

A mental giant.

Fri, 02/10/2012 - 17:27 | 2147662 NotApplicable
NotApplicable's picture

Well, until the next one comes along, that is.

Silly statists. Who else could ever believe that criminals are best suited to run the world?

"Don't blame me, I voted for Kodos!"

Here's a clue. If you believe in the US Constitution then voting is TREASON, as it legitimizes a wholly unconstitutional form of government. By voting, you do nothing but to reaffirm the system of criminality that gained a choke-hold upon everyone in 1913.

Of course, if you believed in liberty, you wouldn't vote either, as there is nothing moral about enslaving one person under the rule of another. It's merely a passive form of violence that you've delegated to others, even though you've never had the right to it yourself.

Sat, 02/11/2012 - 04:38 | 2148864 The Navigator
The Navigator's picture

Two very good, and worth thinking about, points. The 2nd point is easy to digest, the 1st requires more thought.

Still, for all the 'voting' WE do, it seems we get less representation as time passes.

And 1913 was the deathknell of liberty in the USA.

I wonder what put people to sleep in 1900 and 1910 that they gave up being vigilant against tryanny in government.

My father who was born in 1916 totally believed that the government could do no wrong but I believe my great grandfather would be disappointed in me in not acting on Jeffersons words of "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants"

Fri, 02/10/2012 - 16:32 | 2147449 withnmeans
withnmeans's picture

Spot on! I never thought of Mr. Lincoln as being a prophet, now I will put him right up there with Edgar Cayce and Nostradamus.

Thank you for the Quotes

Fri, 02/10/2012 - 17:40 | 2147715 NotApplicable
NotApplicable's picture

Of course, it was his own inability to be bound by a constitution that led him to invoke a war that destroyed the Union, in order to save it. But no, he had to invade, which means he had to pay troops, which means he had to go hat in hand to the banksters begging for cash. They gave him what he considered unacceptable terms, so he printed his own money instead, and they killed him for it.

Meanwhile, a peaceful man would've avoided war, and allowed voluntary secession, then worked to restore relationships in the aftermath (strengthening the Union in the process, as the fraud was dealt with). But no, to him everything was non-negotiable, thus setting the stage for yet another European proxy war in N. America.

So, if only he'd been a man of peace, he wouldn't have even needed to cross swords with the banksters. Instead, he was done in by his own evil.

Fri, 02/10/2012 - 16:40 | 2147486 Goldilocks
Goldilocks's picture

President Obama Contraception Mandate Statement
http://www.youtube.com/watch?v=gRFNeIzkM38 (6:51)

Obama sums up (in Orwellian?) @3:20
"...& that I promised, that before finalizing the rule as it applied to them... "

Really?
i read, i wish you'd shut the fuck up. yah, i get that.
...ahhh,,, that was a tad cruel so here's..
a little gentle something to help balance that out... sort of..
Who loves yah baby?
Think about them apples.

Fri, 02/10/2012 - 17:05 | 2147560 PulpCutter
PulpCutter's picture

Obama? Maybe check with reality? The GOP led the charge on this mortgage fraud settlement.

Obama vetoed the bill, and made it stick.  Republicans in the House voted 169 for and 5 against, in trying unsucessfully to override his veto.  http://clerk.house.gov/evs/2010/roll573.xml

John Boehner and his GOP made this happen, for their banker buddies.  I'm sure he had a good cry about it first, though.

http://www.creditwritedowns.com/2010/10/hitler-finds-out-obama-wont-sign-hr3808.html

Sat, 02/11/2012 - 01:39 | 2148778 StychoKiller
StychoKiller's picture

Look, we get that you have some sort of hard-on for the Obamatron, but yer reply has NOTHING to do with Goldilocks' comment!

Sat, 02/11/2012 - 11:18 | 2149080 DeadFred
DeadFred's picture

Cut and paste function is on autodrive. Sometimes happens with my computer too.

Try tapping on the key pad, sometimes those twinkie crumbs get all mashed up underneath.

Fri, 02/10/2012 - 16:54 | 2147544 grid-b-gone
grid-b-gone's picture

Many AGs are elected and don't want to sign a document that waives $1 trillion of criminality with a mere $25 billion of hush money and no admission of wrongdoing. 

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