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Forum Post: The Great Looting: Homeowners, Pensioners Robbed by Wall Street; Congress MIA

Posted 2 years ago on Jan. 3, 2012, 10:25 a.m. EST by fucorporatemedia (451)
This content is user submitted and not an official statement

What would you do if you discovered the entire "foreclosure crisis" was nothing more than a Huge SCAM. And upon learning this can be proven - in simple, easy to understand terms - and the President and 99% of our "Representatives" continue to look the other way.

The government is openly bought and owned by the bankers.

The news readers will that tell us robo-signers were hired by the banks to sign hundreds if foreclosures per day, without reading the documents, without any training whatsoever. "It is difficult to get a man to understand something when his job depends on not understanding it. -- Upton Sinclair A deliberate fraud to steal millions of homes from American families, and the corporate news readers on tv smile and tell us it's alright, this kind of thing happens all the time. They should be mad as hell. Politicians should be on tv telling us they're going to fight have have Americans returned to their homes. But they don't, the banks are great campaign contributors. The politicians and news readers don't want to know the truth, as it would mean the end of the career and luxurious lifestyle.

It's important to realise that the bank bailout and mortgage crisis was all a fraud.This was a ponzi scheme set up by the banks for the banks, and the government went right along with it because they ARE the bankers and/or completely supported and co-opted by bankers.

Literally, there is no doubt, that the 'foreclosure crisis' was an engineered scam enabling the fraudsters to scam money on both sides of the equation. Related: New Banking Chairman says Washington is there "to serve the banks".

Rep. wants foreclosure investigation to ignore robo-signer controversy. They used predatory lending practices to encourage people to get loans they couldn't afford. They even cold-called people to get them to refinance a house that was already paid in full. Now a few years later they are trying to snatch that house out from under the family that has lived there for generations. And they did it on purpose! This happened over and over again. Why? The "securitization of loans" deal that allow the banks to bundle the bad loans, intentionally mislabel them AAA, then sell them to pension funds and other duped investors. Millions have lost big money in their pension funds because these fraudsters blatantly stole their money and the government did nothing about it. More on that below, but first an example of how one guy was screwed by the bank, with a little help from the gov't.

Bank uses Obama's Loan Modification program to steal home. Think this happened only once?

Graham said his trial dragged on for 18 months. He said he made every payment until Bank of America

told him in May that he didn't qualify for HAMP, and that he'd lose his home unless he paid about $7,000 to make up the difference between his normal monthly payments and the reduced payments he made during the trial period.

"Each month when I did talk to them I was informed it's still under review -- as long as you

keep making this trial payment everything will be fine," said Graham, 53. "At some point I started receiving notices from my credit cards that they were reducing my credit amount due to recent problems making my mortgage payment on time."

Graham, who faces reduced income after retiring from his job as a shift foreman at a grocery

distribution center, said he never would have bothered with HAMP had the bank not sent him a packet saying he should apply. "I would have found some way to [make my payments] if I had to," he said. "It may even been that we'd have fallen behind a month or two. I certainly wouldn't have been in this sort of shape."

It's the classic HAMP bait-and-switch: Homeowners are told they're eligible for the program

but eventually discover the foreclosure process, triggered by the reduced payments, moved faster than the modification process.

read more http://occupytvstations.com/news/8472

9 Comments

9 Comments


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[-] 1 points by Nevada1 (4835) 2 years ago

Hi fucorp, Good post. Now the big investors (including foreign), can buy up the property really cheap. Best Regards, Nevada

[-] 1 points by 666isMONEY (348) 2 years ago

i totally believe this was an engineered scam to loot America. Bill Clinton signed the enabling legislation in his final daze of office, Libertarian Greenspan pushed it, Obama's cabinet is filled with former Goldman Sachs employees. ignorant politicians signed onto the bills that repealed Glass-Steigall, etc. We should be mad as hell. Perfect example why democracy & capitalism doesn't work. I don't think we'll ever recover and peak Oil will contribute to that failure when the price goes up. . . . We're soooo doooomed!

http://www.flickr.com/photos/666_is_money/3187334305/

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[-] 1 points by aahpat (1407) 2 years ago

Congress was not missing in action in the empowerment of the Wall Street banks. Congress, in 1999, gave them the power to steal the accumulated home equity of America.

SEE: Purge Congress in 2012 --- Plan Now! (Action Plan Proposal) http://occupywallst.org/forum/purge-congress-in-2012-plan-now-action-plan-propos/

[-] 2 points by fucorporatemedia (451) 2 years ago

They did it on purpose too...evil bastards all.

[-] 0 points by vets74 (344) from New York, NY 2 years ago

Google - martha coakley five banks

Read the "complaint.pdf" document. Carefully.

This is filed as a state-level civil suit. It reads like a Federal strategy sheet for a RICO indictment. Every element of the crime.

[-] 1 points by aahpat (1407) 2 years ago

Here is an excellent if long timeline treatise on the evolution of the financial collapse of America.

Financial Regulation Timeline November 29th, 2008 by selise (most recent update on 4/5/09) @ NetRoots Mass Financial Regulation Timeline http://www.netrootsmass.net/selise/financial-regulation-timeline/

The author has visited these threads and is a very cool person.

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[-] 0 points by vets74 (344) from New York, NY 2 years ago

Any system can be corrupted. What is unique about capitalism is its efficiency when corruption does take hold.

Consider ENRON. "The Best Company in America." True, for the sociopaths who ran it. Then we get this:


It took a relatively obscure former British academic to propagate a theory of the financial crisis that would confirm what many people suspected all along: The “corporate psychopaths” at the helm of our financial institutions are to blame.

Clive R. Boddy, most recently a professor at the Nottingham Business School at Nottingham Trent University, says psychopaths are the 1 percent of “people who, perhaps due to physical factors to do with abnormal brain connectivity and chemistry” lack a “conscience, have few emotions and display an inability to have any feelings, sympathy or empathy for other people.”

As a result, Boddy argues in a recent issue of the Journal of Business Ethics, such people are “extraordinarily cold, much more calculating and ruthless towards others than most people are and therefore a menace to the companies they work for and to society.”

Bloomberg News www.bloomberg.com/news/2012-01-03/did-psychopaths-take-over-wall-street-asylum-commentary-by-william-cohan.html


The original article: us.macmillan.com/author/cliveboddy


Them's the rules.

The Manhattan prosecutor went in the tank for these sociopaths. That happened mid-1980s and solidified steadily since. The rest at national level followed as night the day.

Btw: NYSE is a SRO - Self-Regulating Organization.

Another convenience.

[-] 0 points by vets74 (344) from New York, NY 2 years ago

The total smash-and-grab to date EOY 2010 was $7.3-trillion.

$7,300,000,000,000.

7,300-billion dollars.

7,300,000-million dollars.

Politicians are a dime a dozen compared to these numbers.

And avoid small planes.