Big Banks are out of control criminals.

reply to post by freetree64

We don't make the rules, so why do we have to follow them!

(Evil laugh.................................) It is almost halloween!

reply to post by Stewie


surprise, surprise, surprise....
obama may have done something right!!!

www.reuters.com...

the congress couldn't grapple with the budget, they couldn't grapple with the tax codes, before they rushed home to plead for your vote....
but they passed a bill that would make everything kosher with the foreclosures....

The bill, the Interstate Recognition of Notarizations Act, cruised through the Senate last week with no public debate and could have shielded bank and mortgage processors from liability for foreclosure documents that were prepared improperly.

obama sent it back to them with a veto.....for reconsideration.........

God, we all need a buddy or two in congress to make all of our illegal deeds magically legal after the fact!!!

reply to post by dawnstar

Yes, that appears to be GOOD for the people. For that reason, I suspect that I don't have the whole story.

Cynical me, what can I say.

reply to post by Stewie


more than likely, it will be passed, after elections, when their is more republicans in washington to blame for letting the banks off the hook! maybe they'll add a few slaps on the wrists so they can say that they punished the evil bankers.
but, I think eventually, they are gonna have to do something, because right now, I think there's alot of title to houses that are rather cloudy if one is to go by the laws that are written today. And, I ran across a story yesterday that sets the date back in the 80's as when the problem started.....

what they should do is just declare that all the mortgages have been officially paid off, try to give some sort of restitution to those who have been wrongfully evicted, and let all the current owners of the houses hold the title...
why not, the bailout already more than paid for any losses that the investors, bankers, and insurers would incur by such a move!! technically these banks were paid for the mortgage when they sold the note to wall street....so, well, why did they get so much of the bailout money?? and well, the reason why we see that so much of this money is going to other countries is that so much fraud has been revealed...so all those securities, by law, must be bought back by the ones who originated the security, I believe.....so, well, the investors are being paid off....
so, well, it's the taxpayers who are gonna be paying for all this bailout money in the end, and those rich taxpayers are making it quite clear that they don't want to pay more for it!! why should those who owe money for the houses have to pay?? seems that everyone HAS BEEN PAID! If anyone should get the payment for the mortgages it should be the federal gov't, who, in turn uses it to reduce that debt that all this has drivien the country into, so that the taxpayers aren't taxed so badly that they can't pay for the bogus mortgages that have no legal standing under current laws...

I read a little clip about this off of cnn, I'm amazed at how much the mess was downplayed!! it's just shoddy paperwork???
it's more like....they decided that what the law says didn't matter, they would do what they likes and well...now we should just accept that because they are banks, too big to fails...the laws shouldn't apply to them!!

we, the people are the gov't.....they are our laws, and well, if any corp entity can get by with ignoring them, then well, the people should be able to also....since, by the nature of our gov't, it's the people who are the biggest too big to fails!

reply to post by dawnstar

There is an end game to this, and I suppose it is the destruction of the dollar.
Consider this example, but multiplied many thousands of times.
Homeowner gets a mortgage from a local bank. The local bank has deposits, and loans this money because said bank HAS money to loan. Local bank turns around and sells mortgage to one of the BIG banks, but they do not have the deposits, but they have the fed. The "assets" of the big banks are all of these other loans they have out.
So essentially, they can "create" the money they use to buy up main street assets.
Sounds good until main street assets go down the toilet, and this ponzi unravels.
Same scenario with credit cards, where the credit card balance becomes an asset for the Big Bank, and they are empowered to build this house of cards without any money at all of their own at risk. Ever.
They have dragged the west down into debt slavery.

reply to post by Stewie


there is only one flaw in what you say.....

it seems that no one can prove that they own the note, so, well, no one has right to demand payment, so, well, no one has the right to foreclose...as the law is written now....
you think that if their plan was to end up owning all the property and having us all in debt, well....
they would have followed the law, made sure that their property was better insured!

reply to post by dawnstar

Yes, but that is why I say that the end game is the destruction of the dollar. If the loans are written off, theoretically they would lose their investment to the tune of trillions. If they have exclusive rights to print the new currency, well what difference does it make?
Anyway, it is only speculation.