Welcome login | signup
Language en es fr
OccupyForum

Forum Post: When banks have routinely filed falsified mortgage promissory notes, with tens of thousands of fraudulent documents filed in tens of thousands of cases – “rampant, self-evident, easy to prosecute” fraud – what does it take to get prosecutions ?’

Posted 2 years ago on Dec. 24, 2011, 1:10 p.m. EST by fucorporatemedia (451)
This content is user submitted and not an official statement

Reuters has an outrageous article detailing the absurdity of the lack of prosecution of financial crimes in modern America. It is a shocking to watch the United States, a nation that once followed the Rule of Law, slip into a banana republic.

“Four years after the banking system nearly collapsed from reckless mortgage lending, federal prosecutors have stayed on the sidelines, even as judges around the country are pointing fingers at possible wrongdoing.

The federal government, as has been widely noted, has pressed few criminal cases against major lenders or senior executives for the events that led to the meltdown of 2007. Finding hard evidence has proved difficult, the Justice Department has said.

The government also hasn’t brought any prosecutions for dubious foreclosure practices deployed since 2007 by big banks and other mortgage-servicing companies.

But this part of the financial system, a Reuters examination shows, is filled with potential leads.

Foreclosure-related case files in just one New York federal bankruptcy court, for example, hold at least a dozen mortgage documents known as promissory notes bearing evidence of recently forged signatures and illegal alterations, according to a judge’s rulings and records reviewed by Reuters. Similarly altered notes have appeared in courts around the country.

And it gets much worse.

• Despite laws against it, banks have foreclosed on active-duty U.S. soldiers who are legally eligible to have foreclosures halted. Attorneys representing service members estimate banks have foreclosed on up to 30,000 ACTIVE military personnel, mostly while they were in Iraq and Afghanistan.

• There has been — literally — “tens of thousands of fraudulent documents filed in tens of thousands of cases.” Sworn affidavits have been filed containing false information. This is easily prosecuted perjury.

http://investmentwatchblog.com/barry-ritholtz-when-banks-have-routinely-filed-falsified-mortgage-promissory-notes-with-tens-of-thousands-of-fraudulent-documents-filed-in-tens-of-thousands-of-cases-rampant-self-evident-eas/

5 Comments

5 Comments


Read the Rules
[-] 1 points by PublicCurrency (1387) 2 years ago

Great post !

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

If the Occupy movement could surround the TV stations and demand accountability...every day....in their faces while they still try to lie about the movement....eventually we will wear them down and force them to report the truth.

[-] 1 points by AFarewellToKings (1486) 2 years ago

Seen any of thejuicemedia? They just released a new one #Occupy 2012

http://www.youtube.com/user/thejuicemedia#p/u/4/NXbCwq4ewBU

[-] 0 points by TIOUAISE (2526) 2 years ago

"La verite est en marche, et rien ne pourra l'arreter." Emile Zola

TRUTH is on the march, and NOTHING can ever stop it". EMILE ZOLA, hero and martyr of the famous "Dreyfus Affair".

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

Time to make that truth come out on our public airwaves, by the power of the Occupy movement.

What good is the truth if they lie about you, beat you up and then throw you in indefinite detention?