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Goldman takes on new role: taking people's homes

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posted on Nov, 5 2009 @ 02:24 AM
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SAN JOSE, Calif. -- When California wildfires ruined their jewelry business, Tony Becker and his wife fell months behind on their mortgage payments and experienced firsthand the perils of subprime mortgages.

The couple wound up in a desperate, six-year fight to keep their modest, 1,500-square-foot San Jose home, a struggle that pushed them into bankruptcy.

The lender with whom they sparred, however, wasn't the one that had written their loans. It was an obscure subsidiary of Wall Street colossus Goldman Sachs Group .

Goldman spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in the business, and packaging them into high-yield bonds. Now that the bottom has fallen out of that market, Goldman finds itself in a different role: as the big banker that takes homes away from folks such as the Beckers.

The couple alleges that Goldman declined for three years to confirm their suspicions that it had bought their mortgages from a subprime lender, even after they wrote to Goldman's then-Chief Executive Henry Paulson -- later U.S. Treasury secretary -- in 2003.

news.yahoo.com...;_ylt=patrick.net.net

Goldman takes on another role/job, and this time is to take the homes of Americans by using any, and every dirty trick they can think of.

Where is President Obama "DEMANDING" Goldman Sachs Group for it's CEOs to resign, or be fired, and denouncing what this group has been caught yet again doing against the American people?.... Just like he demanded CEOs from GM to resign/be fired?...

Where is President Obama's TV speech denouncing what Goldman Sachs Group is doing as "anti-American"?...

But of course it is seen nowhere...




posted on Nov, 5 2009 @ 03:20 AM
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I do have sympathy because of their circumstances - but my feeling is that if you cannot afford to make your payments then one way or another you will lost that possesion. If it wasn't Goldman Sachs, then it would have been some other bank or lender.
I fail to see the conspiracy here.



posted on Nov, 5 2009 @ 04:36 AM
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This is a long shot, but what the heck.


UN's Agenda 21


Agenda 21 mandates that there is to be NO ownership of private property worldwide. The U.N. believes that all land, watershed systems, and natural resources must be owned and administered by government.

President Bush Sr. addressing the United Nations
It is the sacred principles enshrined in the United Nations Charter to which the American People will henceforth pledge their allegience.

Allegience to the UNITED NATIONS, what happened to the ALLEGIENCE TO THE UNITED STATES OF AMERICA?


Here is a video that explains a 'small' aspect of what you are seeing every day, but are unable to connect with what you see, called denial.
As I can imagine, alot of ATS members will claim these people have No idea of what they are talking about,ofcourse..

Video Here

Oh, and it is not called Theft or Imprisonment, it is called : Sustainable Development, which in December get one step closer to this Agenda to be fulfilled.. Have a nice day !!!!!!!



· If you are a rural American, particularly a citizen living in a wilderness or remote farming area, you may have become particularly aware of the taking of thousands upon thousands of acres of land by conservation organizations ranging from The Nature Conservancy, the Wildlands Project, the Conservancy Fund, The Department of Natural Resources, and many other groups that all seem to be somehow connected to each other. They invite locals to attend stakeholder meetings and then envision how your land should be protected from developers. But they facilitate the visions with manipulations such as, "Let us help you preserve and protect your pristine land. Tourists will come and boost your economy. We will help you find the money,” they will say, while smiling and assuring you that they are working for the good of your community. And so, you agree that their ideas are good ideas, and their offers to help are accepted. Unfortunately, their truthful agendas are to expand U.N Biosphere Reserves in the United States where, in the very near future, no tourists or locals will be permitted to go.


[edit on 5/11/2009 by ChemBreather]



posted on Nov, 5 2009 @ 06:03 AM
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Good topic for a thread.

Although it is the most obvious thing in the world, one of the main purposes of this latest economic crash is so the NWO - through its holding company the Federal Reserve - gets to own all the defaulted real estate from the US.

It is stealing all the US real estate - the Fed is buying the mortgages from anyone and everyone - and it is not reselling.

Its obvious - its theft - and they should hang for it.



posted on Nov, 5 2009 @ 06:43 AM
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While sad, this is how it works when you don't pay your mortgage.

The concept of a lender selling their loan is nothing new, it had been going on for years. The difference here is that a subsidiary of Goldman Sachs bought this loan, and many others, and then repackaged them and sold them on the open market to investors. Now, this subsidiary is merely managing their investment. If this was Chase Home Finance, Citimortgage, Wamu, Wells Fargo, etc, they'd be doing the same thing.

I wonder, why didn't the Becker's complain about this subsidiary buying the loan when it was originally sold to them? They make it sound like goldman is the only bank foreclosing on properties and they're evil for it.

The only conspiracy here is why does this one story get any press when a large percentage of subprime loans were sold to be repackaged and many of the management companies that took over the servicing of that debt are now foreclosing on homes as well?

My guess is the family figured they'd weasel out of the debt by bad mouthing the big, bad GS in the press.



posted on Nov, 5 2009 @ 08:17 AM
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reply to post by ElectricUniverse
 



SAN JOSE, Calif. -- When California wildfires ruined their jewelry business, Tony Becker and his wife fell months behind on their mortgage payments ...



Seems their insurance coverage on the home &/or business was insufficient...

the wildfire damage had nothing at all to do with the mortgage loan being sold to a 3rd or 4th party... And those parties which are now demanding payment on their investment ~ or else demanding ownership of the property itself in lieu of the money owed~



sounds straight forward to me... the buyers have enough money to fight the mortgage holders for 6 years...but have no $$ to repay their commitments in buying the residence??


[edit on 5-11-2009 by St Udio]



posted on Nov, 5 2009 @ 12:32 PM
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Originally posted by ChemBreather
This is a long shot, but what the heck.


UN's Agenda 21


Agenda 21 mandates that there is to be NO ownership of private property worldwide. The U.N. believes that all land, watershed systems, and natural resources must be owned and administered by government.

President Bush Sr. addressing the United Nations
It is the sacred principles enshrined in the United Nations Charter to which the American People will henceforth pledge their allegience.

Allegience to the UNITED NATIONS, what happened to the ALLEGIENCE TO THE UNITED STATES OF AMERICA?

................


That is exactly what is happening, and as you can see by the responses of some members to this thread, they can't see the true goal of these corporations.

At the end only the "STATE" and the elites, who own these large corporations will be the ones owning every property.



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