First Felony Charges Brought Against Robosigners

Tyler Durden's picture

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prains's picture

go long................rope

ACP's picture

This stuff was made in...NEW YORK CITY?!?

TruthInSunshine's picture

Linda Green may go to the pokey for a while.

Mozilo?

Corzine?

Dimon or Blankfein or any of the parasite lackeys at the Squid or House of Morgue?

Anyone at CRIMEX?

Anyone at Freddie/Fannie, nevermind politicians doing sweetheart deals with them?

Any CONgress scumbags who went short the market upon hearing Hank "Tanks in the Streets Tomorrow" Paulson give his test scare speech prior to the public one?

 

 

Not so much.

A L I E N's picture

contact: J LO.?

Wow they really went after the corporate masterminds

Troll Magnet's picture

am i the only one who thinks nothing substantial will come out of this? i mean, why would eric holder do his job?

TruthInSunshine's picture

The only people who have gone to jail so far are Madoff (who literally gave himself up after running a 50 billion USD Ponzi for decades, maybe he was just too bored to continue), Sanford (who wasn't involved in creating any of the systemic risks that blowtorched the global economy, despite being a clear criminal a la Madoff), and Raj (who was the sacrificial lamb to protect the real scumbags who were simply clever enough to avoid being wiretapped/recorded and caught red-handed in simple insider trading).

 

So, no one who broke a myridad of laws, gamed the system (illegally), particularly having close ties to politicians, regulators, GSEs such as Fannie/Freddie, or conducting activity that would make anything remotely touching on an 'honest system' puke, has been charged with a crime, let alone gone to jail.

Hell, Goldman Sachs, with its Timberwolf/Hudson/Abacus total and outright fraud and criminality on about a hundred levels, merely paid a 550 million dollar fine (which represented a fraction of the profits it booked on the illicit gains it received via those scams) and skated, as just one of many examples of illegal, unscupulous, unconscionable behavior that we even know about.

SWRichmond's picture

Yes, the robosigners need to go to jail.  When do we get to the robosuborners?

waterhorse's picture

Now, now, don't forget Lee Farkas, Taylor, Bean & Whitaker...so that makes a grand total of 4 who have been prosecuted.

Clark Bent's picture

Fannie Mae, in is servicing contract with the banks is sympathetic to this problem. While Fannie's contract very clearly states that at all times the notes they hold are owned by Fannie, and that Fannie is always the holder entitled to enforce the note, they nevertheless want to help out the Servicer whose right to enforce the promissory note is challenged in a foreclosure action. So they have provided Form 2009 so that a Servicer can request and temporarily sign out the original note to assist in litigation. The Servicer can then show the local court the actual note in its possession with a blank endorsement, and tell the court they are entitled to enforce the note. But of course they are not, they are merely the temporary custodian for Fannie which chooses to remain in the shadows so that they cannot be subjected to liability for their agent's actions. Typical bureaucracy to create a form to fraudulently decieve courts about the legal nature of ownership of the instrument. Most local judges in foreclosure willfully refuse to be educated about these issues, relying instead on the bank-friendly theory that nobody is entitled to live in a house and not be payign the mortgage. Where are our prosecutors? 

NotApplicable's picture

"Linda Green may go to the pokey for a while."

Which one? Or should I say, "How many?"

Let them all fail's picture

HAS ANYONE LOOKED WHO LPS's MEZZANINE LENDER WAS PRE-IPO??? 

hint: the squid's tentacles are long and sticky...

Yamaha's picture

Why didn't this start with Congress? They can't tell you what is in their bills - that is robo-signing! Obama care?

ACP's picture

HANG 'EM HIGH!

a growing concern's picture

I get a warm, tingly feeling just knowing that those fuckers are getting a cold, nervous feeling right about now.

Number 156's picture

I see two scapegoats. Bet you it doesnt go any higher.

Remember what Confucius says:

Fish always stink from head first.

SaveTheBales's picture

Indictments can be inspirational things.  For example, they may inspire the defendants to sing.  Good grief the charges are only just now hitting the wires. 

Patience, GrassSmoker.  Big game has to be surrounded by evidence, or the hunter gets trampled...

Andrew G's picture

I really thought robots would be better looking than this

Bunga Bunga's picture

 

 

They did the dirty work for Wall St and now they are just disposed through the judicial system.

Dingleberry's picture

AMERICA.....FUCK YEAH!!!!  IT'S ABOUT DAMN TIME!  Time for a RICO charge.

Lost Wages's picture

First time in nearly 10 years I've been proud to live in Nevada.

RossInvestor's picture

Linda Green was just a low-paid pawn.  Prosecutors should go after the big guys like Mozilla, Ken Lewis, MERS exeutives, etc.  Bill Black should be brought in to direct the heavy lifting on the legal side.

ViewfromUndertheBridge's picture

All the Lindas should be held accountable, as well as the heads of this stinking fish.

That way, the Linda Greens of the future will not sign and the stinking fish-heads will have to go fuck themselves.

"I was just doing my job" was never, and will never, be a valid defense.

Ropingdown's picture

Linda Green et al were by definition weasels doing it for the bucks.  We can expect them to start co-operating with the prosecutors almost immediately.

indio007's picture

The forgot to charge them with uttering.

Civil Shepard's picture

It is about time.   Finally.  

caerus's picture

robo suckit bitchez

 

edit:  crude yes but what else can you say about fraud perpetuated on a massive scale? infuriating...

Conax's picture

No perp-walk video? No jumpsuit and bracelets? Where's the fun, eh?

The OWS people get beaten and dragged on video. What's good for the goose...

vato poco's picture

Hang 'em, hell. Draw & Quarter. Right there on Wall St. And then the heads on pikes.

lunaticfringe's picture

Wow. They went straight to the top. Eh? Nice photos. I'll be happy when I see a photo of that piece of garbage Mozilo.

Fish Gone Bad's picture

Fuck Bank of America. 

OldPhart's picture

Just heard a commercial from Skank of Amurika.  The theme was customer loyalty.  Some guy bragging about how his family had been banking there for over 72 years.

Great, one idiot linking his personal loyalty to Skank of Amurika as if it applied both ways!

I dropped my accounts there in 2005 when it was revealed that they were issuing credit cards to illegal aliens here in California.  Went to a community bank and it was bought a month later by the Chinese.  Still there.

tion's picture

When I closed out my (mostly drawn down) BoAss account, I asked for all nickels.  The teller cocked her head to one side "Really??" and to the other side "Really??"  Yes.  She proceeded to make some strange expressions on her face but obliged.  "Why do you want so many nickels?"  I took my cue from Kyle Bass.  'I just like nickels.'

I still chuckle when I think about it. But seriously though, how epic would it be if everyone closed their TBTF accounts in nickels? Or maybe I just have a lame sense of humor.

azusgm's picture

"between 2005 and 2008"

What is the statute of limitations for criminal fraud? Is it four years?

Anyone?...Anyone?

bombdog's picture

Only if the crime was known about surely?

Kickaha's picture

In Michigan when property is transfered the transferor is required to file a "Property Transfer Affidavit" and pay a fairly benign transfer tax based on the value of the property transferred.  A crook can avoid the tax by swearing under Oath that the property was worth less than $100.

Turns out that MERS does the foreclosure then transfers the property to whatever bankster its records show as the mortgage holder.  They always claim that the value is less than $100.   Two civil suits have been filed by the local tax collectors.

Somewhere some MERS lackey signed those Affidavits.  They, too, need to go to jail, along with whomever ordered them to do the signing.

Miss Expectations's picture

Well, here's where I have to observe that every DMV  that I've ever dealt with was better at preserving title integrity than all these malevolent banksMERS.

Every cash strapped Register of Deeds/Local Tax collector should be screaming bloody murder.  Odd.

CoolBeans's picture

In MI, it'll be interesting because certain of the employers of the signors (Trott & Trott) have basically purchased for themselves a healthy dose of Teflon.  Owner Trott just received an appointment (housing) from the Gov....huge donor...practically ran the former MI AG's campaign.  Really twisted.  One law firm under scruitiny in MI is doing the same thing as Trott's firm -- yet no investigation on Trott's firm yet.

MFI Miami and individual researchers have brought forth several examples of robosigning and other untoward activities by the aforementioned firm -- met with silence thus far from those who took an oath to protect and serve consumers.

Certain MI residents have filed complaints against Trott & Trott (with current AG's office) in the past and they've gone unanswered. 

Finally - a good person started doing some terrific research and presented dozens upon dozens of copies of robo-signed docs and MERS issues...then a MI AG staff attorney took notice and wondered why the original complaint file had been closed.  Hmmmm, because someone from the top ordered the file closed?   

Typical for MI -- I've personally been involved in a non-financial matter where a regulator tried to bury the complaint file -- and it didn't get re-opened until I went straight to the former Gov's office...thereafter the complaint was properly investigated and corrective action was required of the violators.  Several whispered phone calls thereafter ensued from certain people in the regulator's office (those who were not part of the "network" and knew justice was not being done).  It was not a huge matter, by any means - but in the end it caused certain very bad people some real angst.  We didn't give up.

The point is -- MI has had a very poor record in assisting consumers and has seemingly turned a blind eye to many illegal activities.  I ASSURE YOU - THE GOOD OL' BOY NETWORK IS ALIVE AND WELL IN MI AND SURELY IS IN MOST EVERY OTHER STATE.

Scary.  But then again, a well-known attorney told me shorterly after I moved to MI -- that it is a prime state to "rape and pillage" consumers.  Surely, MI is not alone.  So, yes - it'll be interesting to see if the "blind eye" ever wants to really see.

Zero Govt's picture

So the 'Justice' System has started on 2 prawn larvae ...wake me up when they get to the King Prawnszzzz

CoolBeans's picture

Hopefully this will be a successful practice run -- after which they'll go get the bigger fish.

No Mas's picture

And ZH Sheeple, as I (not your Dear Leader the Tyler Durdens) have been saying since the beginning; your tokens have been identified.

To recap:  Nothing is going to happen with this.  Three things are going to occur:

Banks will make money

Lawyers will make a LOT of money

Displaced homeowners will get kicked ot the curb and run to section 8 and maybe even rent the place they just vacated.

And of course, there will be some token convictions, but no one of value.

Now, I know it is hard for the good sheeple to leave the ZH farm but do yourselves a favor and get out and about this weekend.  Take a peek out of you parent's basement or your backyard bunker and see how life is going.  It is a bustling world of people doing stuff, buying stuff and moving around.

Get out and enjoy!!!

Ghordius's picture

do you care to define what a "sheeple" or, even better, a "ZH sheeple" is supposed to be in your opinion?

CoolBeans's picture

FYI - Trolling should only be done while fishing. 

Go darken the doorstep of another site, please.

El Viejo's picture

We are only at Intermission time. This tragedy still has another act to go. Then we will see who the real 'sheeple' are.

chunga's picture

The question remains...why the need to alter so many documents? They are hiding something....

  • Identity theft.
  • Mail fraud (state and federal)
  • Wire fraud
  • Multiple FDCPA violations
  • Multiple state debt collection violations (usually these are similar to or based on FDCPA laws)
  • Unfair and deceptive acts and practices under state law
  • Conspiracy
  • Money Laundering
  • Probable RICO violations
  • Fraud upon the court and/or Bankruptcy fraud
  • Uttering a fraudulent document
  • Fraudulent conveyance
  • Slander of title
  • Financial institution fraud
  • Securities violations

(It appears that many notes both have names, addresses and other personal identifying information on them.  It appears that somebody has stolen identities and used them for unlawful acts without permission).  There are numerous Federal and State identity theft laws. 

SwingForce's picture

Yes, a simple tact is to get the name of somebody who just filed Bankruptcy in Federal Court and print a Quit Deed Claim, making them 1% owner. This stops the foreclosure process immediately, and allows the true owner to continue renting the property for a few months. Not the same issue of robo-signing because its the owner, but a fraudulent Notary Public is as well needed for this scheme.

Seasmoke's picture

forget looking in the casinos for the biggest losers, here are the 2 most unlucky people in Nevada

El Viejo's picture

Bout time. In Nevada no less. Amazing.

CoolBeans's picture

To the top?

Eh, they're entitled to all the justice they can afford.  They seem untouchable.

I can hope...but I doubt this will get anywhere near "the top".  Too much at risk....those at the top seemed inclined to look away and are rewarded in return.

Boo-yah for NV, however!!!!!