The Foreclosure Fraud Fantasy

This article talks about some "pressure" on States to ratify a Wall Street deal to somehow "fix" all those tainted land titles that apparently were boondoggled by banks and lenders to "speed up" the foreclosure process.

The article suggests that the effort itself is a scam.

"The Deal" is some kind of "settlement" between States and banks.

Some States are being "asked" to drop lawsuits against banks and sign-on to the agreement.

As pressure mounts on hold-out states in the U.S. to ratify a shameful deal on Wall Street mortgage-fraud, the mainstream propaganda machine continues to circulate a Big Lie as justification for this despicable sham: that a deal would help to “fix” the U.S. housing market. Not only is this wrong, but it is entirely opposite to the truth.

What the media continues to deliberately obscure is what is actually being negotiated here. You can’t ‘negotiate away’ 10’s of millions of fraud-infected mortgage documents. All that is currently being done with this “deal” is to absolve the Wall Street fraud-factories of responsibility for the this massive, deliberate, systemic fraud – which will permanently cripple the U.S. housing market.

Once a deal is done, all of the fraud will still be sitting in those mortgage documents: 10’s of millions of infected land titles, which can only be purged of their fraud through being litigated one at a time, through a U.S. court system which is already hopelessly clogged with Wall Street fraud.

By simply “sweeping under the carpet” these countless millions of acts of systemic fraud, rather than helping to fix the U.S. housing market, it guarantees decades of massive uncertainty and insecurity regarding land titles in U.S. residential real estate. Put another way, it makes title security in the U.S. grossly inferior to any/every other reputable land title system on the planet.

The Foreclosure Fraud Fantasy

I do not completely understand the problem as we see it today.

But I always had doubts about how some the best educated people in the country could screw up a whole system !!

I think the land title mess was deliberate and intended to actually slow-down foreclosures.

Why? ... to keep the prices of real estate from really hitting rock bottom too quickly. If all those foreclosures were to hit the market all at the same time it would have been a bigger disaster than we currently see.

The educated "idiots" may be smarter than we think. But I still think somebody is crazy.


related article States With Highest Foreclosure Rates Among Bank Mortgage-Accord Holdouts


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