Tax Apocalypse for States and Federal Government Can be Reversed: Show Me the Money!

SEE states-look-beyond-borders-to-collect-owed-taxes

states-ignore-obvious-remedy-to-fiscal-meltdown

tax-impact-of-principal-reduction

accounting-for-damages-madoff-ruling-may-affect-homeowner-claims

taxing-wall-street-down-to-size-litigation-guidelines

taking-aim-at-bonuses-based-on-23-7-trillion-in-taxpayer-gifts

payback-timemany-see-the-vat-option-as-a-cure-for-deficits

As we have repeatedly stated on this blog, the trigger for the huge deficits was the housing nightmare conjured up for us by Wall Street. Banks made trillions of dollars in profits that were never taxed. The tax laws are already in place. Everyone is paying taxes, why are they not paying taxes? If they did, a substantial portion of the deficits would vanish. Each day we let the bankers control our state executives and legislators, we fall deeper and deeper in debt, we lose more social services and it endangers our ability to maintain strong military and law enforcement.

The argument that these unregulated transactions are somehow exempt from state taxation is bogus. There is also the prospect of collecting huge damage awards similar to the tobacco litigation. I’ve done my part, contacting the State Treasurers and Legislators all over the country, it is time for you to do the same. It’s time for you to look up your governor, State Treasurer, Commissioner of Banking, Commissioner of Insurance, State Commerce Commission, Secretary of State and write tot hem demanding that they pursue registration fees, taxes, fines, and penalties from the parties who say they conducted “out-of-state” transactions relating to real property within our borders. If that doesn’t work, march in the streets.

The tax, fee, penalty and other revenue due from Wall Street is easily collectible against their alleged “holding” of mortgages in each state. One fell swoop: collect the revenue, stabilize the state budget, renew social services, revitalize community banks within the state, settle the foreclosure mess, stabilize the housing market and return homeowners to something close to the position they were in before they were defrauded by fraud, predatory lending and illegal practices securitizing loans that were too bad to ever succeed, even if the homeowner could afford the house.

8 Responses

  1. Just call a Horse a Horse.

    The FANNIE / FREDDIE / MERS Housing model was invented to accelerate the fraudulent Bond Market by means of skirting the RECORDING FEES in the name of technology and efficiency.

    NOTHING COULD BE FURTHER FROM THE TRUTH!!

    MERS was created to be exactly what it is: A shell company to embezzle real assets under the cloak of legitamacy. MERS misuses the courts and other government agencies to unwittingly aid and abet in a criminal scheme having adverse effect on both borrowers and investors.

    Had MERS never been concocted by Phylis K. Sleslinger of The Mortgage Bankers Association along with others, MILLIONS upon MILLIONS of recievables would’ve been collected by municipalities as a result of the Mortgage Assignments that would’ve needed to be recorded in land records to track ownership and conveyances.

    Ironically, as a result of the mortgage fallout, precious MUNI-Bonds are RAPIDLY loosing investor’s because NOBODY wants to be left holding a bag of crap that worthless. Worth less that what? Worth less than originally speculated in the artificial low interest rate “Boom”. Hence, the suffering balance sheet of The Fed and all the corrupt banks its trying to shield from insolvency.

    Nevertheless, FANNIE AND FREDDIE are the originator of at least HALF of all US Home Sales during the Boom. This why they needed $400 Billion un-capped over Christmas 09′ + Access to the Fed’s Discount Window which is still not enough to cover the uncalculable losses aka “Troubled Assets”.

    The TARP was effectivley an $787 Billion COVER UP for the rotting assests of Fannie>Freddie>Countrwide>and B of A; which is now on the Fed’s secretive Balance Sheet.

    The point is; at least half of US Mortgages have this statement:

    “A FANNIE AND FREDDIE INSTRUMENT WITH MERS”

    Meaning Fannie, Freddie & MERS where business partners from the very beginning in this mortgage & foreclosure catastrophe. Fannie, Freddie and MERS all had ACCESS to the same information in the outset.

    Fannie and Freddie had the implied gov’t gaurantee of a Bailout, and MERS had the Job of creating the cloud on title (i.e. “a digital clearinghouse”) to render homeowners dazed and confused while MERS Representatives, mortgage servicers and their Lawyer’s would expidite foreclosure proceedings on millions of helpless Amercan families before the smoke settled or help arrived.

    This entire housing debacle is nothing but a massive RICO enterprise perpetrated by agents working under the cloak of “Government Sponsored Entities” while The Government itself remains absent in its duty to protect its people and their property.

    The Foreclosure crisis is a THEFT crisis and the means of THEFT screams bloody RICO.

    Nobody robs a bank alone and Banks don’t rob the people alone. They needed agents on the ground to aid and that’s the role MERS Played.

    The Federal Government empower’s Mortgage Fraud by not enforcing its laws and letting criminals get away with murder in plain sight.

  2. Rise oh falling fighters rise and take your stance again. Put down that remote control and do your part.

  3. i did this already … months ago.

  4. Patrick well said!!

  5. 1 word money

  6. Neil:

    I highly respect you and this website. Nevertheless, to be fair, the government is ripping us off as much as “Wall Street”. In fact, they fully compliment each other in their mutual thefts against us.

    The banks purposely keep track of our money for punitive and thorough government tax collections, and the government reciprocates by bailing out these same banking corporations.

    Neil, how is you propose we fight M.B.S.’s, when the Treasury and the Federal Reverse claimed to have ‘bought’ with 24.5 Trillion in pretender money the very M.B.S.’s that are unenforceable and toxic?

    When we fight pretender lender B of A, they are acting on behalf of the “holders” of these M.B.S.’s – the Treasury and the Federal Reserve. We will rarely win when various Federal judges pass over the sins of these M.B.S.’s if some bureaucrat declares “public policy” dictates they enforce them regardless of the numerous law violations.

    Governments are broke because they involve themselves in these behaviors – and always have in the sordid history of humankind. Governments do NOT need to be bailed out with further ‘taxes’ for ‘services’. I gladly give to charities of my choice, but not foreign governments, offensive wars, and welfare baby-factories.

    You apparently don’t see the big picture of who is actually stealing our houses: Big out-of-control monopolistic government – the anti-thesis of our founding fathers. This government created the monopolies that these banking corporations did all this pretending lending and insurance derivatives in – bankrupting the world.

    Instead, cancel all $9.5 Trillion in toxic Securitized (not private) mortgages instead for NULLITY. People with free & clear homes don’t need many ‘services’ or inefficient government babysitters. Their pensions are already gone anyway. While we’re at it, reopen the Homestead Act of 1862-1976 up again for everyone else. The ‘Mortgage-backed’ Securities (M.B.S.’s) are either VOID or NOT.

    A tax-fat government is not going to ever fix that.

  7. I would also like to know why the attorney general of the US hasn’t started an investigation of MERS, law firms, and any bank that fraudulently filled out assignments and allonges. Seems that this was both commonplace and widespread.

  8. Neil, PLEASE POST A SAMPLE LETTER to send to our elected officials. I bet Florida’s current attorney general might just sue the investment banks because he is running for Governor. Of course, he is a Republican, so maybe not. Still, it would be a very populist thing to do.

Leave a Reply

%d bloggers like this: