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“someone needs to say the obvious”

If it is right for the investors, pension funds etc. to refuse living the lies of the bankers why isn’t it right for the rest of us? If the investors are not interested in getting involved with the falsely created “loans” and mortgage documentation, why should the banks be permitted to step into the shoes of the creditor and pretend to be the lender? — Neil Garfield


“….inventing reasons not to put the unemployed back to work is neither wise nor responsible. It is, instead, a grotesque abdication of responsibility.”

EDITOR’S COMMENT: If world class economists are “getting it” and trained economic and securities analysts are getting it why can’t the policy makers get it? Suddenly we don’t know what we have always known: that joblessness will drag the economy down. Although Krugman understates the jobless numbers to be perceived as credible, the numbers are staggering even if we use conventional government data. It would not be an understatement to say that more than 30 million people are either out of work, underemployed, want to work but can’t, and the malaise gets worse every time another person just gives up. That means about 10% of the entire population of this nation wants to work but can’t.

They can’t work largely because of two things — either they lack the training necessary to perform the work that employers needs done or they are blocked from working or moving to a job because of the illusion of mortgage debt that does not actually exist and is not really a lien against their property. In turn employers shoot themselves in the foot by using FICO scores to choose employees. The banks created the illusion of credit defaults and delinquencies. It does not really exist on the scale declared by the banks and reported by the government and the media. But we treat it as real and it becomes real for every worker who is otherwise well qualified for a job but turned down because of the dark FICO score left on his/her record by the banks who pushed all sorts of unworkable debt on consumers in lieu of applying our economic resources to real commerce, training and innovation.

Krugman’s frustration is understandable. The truth is plain to see and the solution is just as obvious, but the banks, using billions of dollars of OUR money are using that money against us and our neighbors, bringing down the the economic vitality of the nation. Except for those in high management at the banks, there is not one person who is not negatively affected by this cycle, even if they don’t realize it. What we need is simple to state: unity in the face of all these successful tactics to divide us. I intend to do something about that — stay tuned.

This is not about personal responsibility. It is about a moral imperative in our society to make things right. The plain truth is whether you look at mortgage debt based upon ridiculous appraisals of property values and intentional misstatements of the ability to or willingness to pay, or you look at credit card debt with interest rates that for centuries were known to be impossible to pay and therefore criminalized until the banks got involved in legislation, or you look at the cost of education and the added cost of financing it through a filter of banks that got involved solely for the purpose of increasing the cost of education, we are pursuing untenable policies.

We all know that this house of cards can’t stand on its own, that it is breaking apart at the seams, and that we are being targeted by divisive rhetoric intended to keep us fighting with each other instead of reclaiming a rich national heritage of opportunity and freedoms. Nearly everything the banks have done in the last 10-15 years was considered illegal or even criminal for decades and even centuries before that. The criminal prosecutions should be brought, based upon sound investigation and the pursuit of truth, but more important, we need to realize that it doesn’t really matter whether the conduct was criminal or not.

What matters is that we are all in a hole that the banks dug for us and there is no way out except to do those things that get us out of the hole. If that hurts or helps the banks should be a secondary consideration. If it helps the homeowners a bit more than appears”acceptable”, so what? Continuation of our policy of allowing the banks to create this alternate reality is pure folly.

Allowing the homeowners and other consumers who are under unworkable debt burdens to work their way out of it is pure common sense that until now has always been applied. Real banks who were not gaming the system have been doing workouts based upon current facts and circumstances for centuries. Yet now we see the policy of workouts being pushed to the side as the banks rush headlong into acquiring the largest real estate investment group in history. Is this what we really want, when the price is our survival as a land of prosperity, opportunity and freedom?

Drop the dogma and use the truth, common sense and apply basic black letter law. The truth is already out — the banks didn’t transfer the mortgages into the “asset-backed” pools. There is no way around that fact. The investors were cheated by lies. Their remedy is against the investment bankers who lied to them.

If it is right for the investors, pension funds etc. to refuse living the lies of the bankers why isn’t it right for the rest of us? If the investors are not interested in getting involved with the falsely created “loans” and mortgage documentation, why should the banks be permitted to step into the shoes of the creditor and pretend to be the lender? If the creditor is saying, as they are in dozens of lawsuits against the investment banks, that the mortgages were no good and they have no interest in a remedy against the homeowners, why are we even pretending that there is any substance to the banks claiming that they have some sort of divine right to collect a debt that arose out of an illegal transaction designed to hurt both of the real parties — the investor and homeowner?

Against Learned Helplessness


Unemployment is a terrible scourge across much of the Western world. Almost 14 million Americans are jobless, and millions more are stuck with part-time work or jobs that fail to use their skills. Some European countries have it even worse: 21 percent of Spanish workers are unemployed.

Nor is the situation showing rapid improvement. This is a continuing tragedy, and in a rational world bringing an end to this tragedy would be our top economic priority.

Yet a strange thing has happened to policy discussion: on both sides of the Atlantic, a consensus has emerged among movers and shakers that nothing can or should be done about jobs. Instead of a determination to do something about the ongoing suffering and economic waste, one sees a proliferation of excuses for inaction, garbed in the language of wisdom and responsibility.

So someone needs to say the obvious: inventing reasons not to put the unemployed back to work is neither wise nor responsible. It is, instead, a grotesque abdication of responsibility.

What kinds of excuses am I talking about? Well, consider last week’s release of the latest report on the economic outlook by the Organization for Economic Cooperation and Development, or O.E.C.D. The O.E.C.D. is basically an intergovernmental think tank; while it has no direct ability to set policy, what it says reflects the conventional wisdom of Europe’s policy elite.

So what did the O.E.C.D. have to say about high unemployment in its member countries? “The room for macroeconomic policies to address these complex challenges is largely exhausted,” declared the organization’s secretary general, who called on countries instead to “go structural” — that is, to focus on long-run reforms that would have little impact on the current employment situation.

And how do we know that there’s no room for policies to put the unemployed back to work? The secretary general didn’t say — and the report itself never even suggests possible solutions to the employment crisis. All it does is highlight the risks, as it sees them, of any departure from orthodox policy.

But then, who is talking seriously about job creation these days? Not the Republican Party, unless you count its ritual calls for tax cuts and deregulation. Not the Obama administration, which more or less dropped the subject a year and a half ago.

The fact that nobody in power is talking about jobs does not mean, however, that nothing could be done.

Bear in mind that the unemployed aren’t jobless because they don’t want to work, or because they lack the necessary skills. There’s nothing wrong with our workers — remember, just four years ago the unemployment rate was below 5 percent.

The core of our economic problem is, instead, the debt — mainly mortgage debt — that households ran up during the bubble years of the last decade. Now that the bubble has burst, that debt is acting as a persistent drag on the economy, preventing any real recovery in employment. And once you realize that the overhang of private debt is the problem, you realize that there are a number of things that could be done about it.

For example, we could have W.P.A.-type programs putting the unemployed to work doing useful things like repairing roads — which would also, by raising incomes, make it easier for households to pay down debt. We could have a serious program of mortgage modification, reducing the debts of troubled homeowners. We could try to get inflation back up to the 4 percent rate that prevailed during Ronald Reagan’s second term, which would help to reduce the real burden of debt.

So there are policies we could be pursuing to bring unemployment down. These policies would be unorthodox — but so are the economic problems we face. And those who warn about the risks of action must explain why these risks should worry us more than the certainty of continued mass suffering if we do nothing.

In pointing out that we could be doing much more about unemployment, I recognize, of course, the political obstacles to actually pursuing any of the policies that might work. In the United States, in particular, any effort to tackle unemployment will run into a stone wall of Republican opposition. Yet that’s not a reason to stop talking about the issue. In fact, looking back at my own writings over the past year or so, it’s clear that I too have sinned: political realism is all very well, but I have said far too little about what we really should be doing to deal with our most important problem.

As I see it, policy makers are sinking into a condition of learned helplessness on the jobs issue: the more they fail to do anything about the problem, the more they convince themselves that there’s nothing they could do. And those of us who know better should be doing all we can to break that vicious circle.

45 Responses

  1. […] FOR THE COUNTRY EDITOR’S NOTE: Looks like the divine right of banks is being challenged. See THE DIVINE RIGHT OF BANKS We have a tendency to look at things the way way they are rather than the way they might be in the […]

  2. David:

    What you say is a fact. Just worked with someone who called to tell me they were hired for the job. Two days later the supervisor advised her that they had run a credit report and she owed a couple of bills for a grand total of $350.00. Wow. that corporate was requiring her to contact the creditors and arrange to pay them, otherwise her employment was basically in jeopardy.

    Well two weeks later, they told her she had not taken care of it and they wanted a written explanation, otherwise her job was in jeopardy.

    The employee took care of the $350 and wrote the explanation to the coprorate and all was well.

    I did not know employers were debt collectors for creditors these days. I think we have a serious problem facing the public work force because millions have suffered such financial loss that their scores, etc. will assure they do not get or keep a job if they don’t find a way to pay the bill.

    One of the early morning shows brought it up and I knew it was true.

  3. they are blocked from … moving to a job because of the … mortgage debt that does … exist at twice market. In turn employers shoot employees by using FICO scores to choose employees.


  4. So what happens to banks and ceit card cartel if we can move money ourselves via our iPhones globally for a third of what it costs now by the way wells Fargo charges 3 bucks from ATM think how much that will hurt them. The trust is gone. Move your money don’t have credit card don’t have a mortgage don’t loan money pay upfront. Use non resistance and see what happens we are many! This change we seek must be non violent
    they want us to revolt can’t you see that. That would make things far worse we must help each other not hurt each other. I’m no ” idealist” but this ptoblem is so huge. We live in monumental times I pray we get it right this time because next time around well… There is no next time around we are looking at a very different world otherwise.

  5. cubed2k

    FICO was the way to get homeowners as subprime “loan” borrowers — that is where the money was — high interest rates. Pay the high interest rates — or we take your home. And, crisis PREVENTED these homeowners from even being able to refinance to reasonable rate — or sell there home. There was NO WAY OUT. Finished.

    Mortgage bank “lenders” — (not security investors) — made sure you were low FICO — pump you with credit card debt – they knew you could not afford — and jump the interest rate if you are ever late. (ever hear of universal default??). Then, of course, you are a prime subprime mortgage loan target. They had your number. In fact, they knew everything about you. The higher the interest rate — the higher the profit.

    Targeting — yes. It was the only thing that held the economy together for the past decade. Held together by — fraud. Heck — they sent jobs overseas — what else did they have left??

  6. “The problem is that today there is an abundance of evidence that says we cannot trust our bankers… quite often they lie, commit fraud on the courts, and in general are more than willing and able to fabricate and falsify whatever is required to foreclose on someone’s home… period. They don’t care at all… and they don’t get in trouble for it either, which I find the most disturbing part of the whole thing.

    So, since its become clear that bankers lie, and cannot be trusted, we’re going to need to bring back the old laws about having to prove you’re the right party to be foreclosing on someone’s home before you’re allowed to do so. Several states have already done this… Hawaii and Arkansas, most recently. Arizona tried to pass such a law, but the banking lobby got to them and killed them both.

    California had a bill that would have come close, but the banking lobby killed it in committee, for heaven’s sake. It was too dangerous to even debate in the legislature.”

  7. Thanks Neil. I intend to “stay tuned” and eagerly look forward to whatever you think up in the way of making an impact. If you can find a way for all of us to stand strong and make a difference, please let us know and I will be there with you. After reading “Griftopia” I have no faith in our elected officials anymore.

  8. This sums up my feelings about the good ole USA in these latter days:,_welcome_to_post-legal_america/#more

  9. I think you need to factor in the aging population when you discuss under/unemployment issues. I no longer look for certain jobs because my age makes me pretty much unmarketable, even though I m quite able physically and have 2 degrees. Even if the economy were in a place to improve, you have how many millions of baby boomers going over the cliff? No one wants to hire wrinkles and grey hair, except at walmart maybe. It’s the old image thing my girlfriend was always preaching about. And it’s real.

  10. It does indeed look as though there are those that feel a united organization approaching it in a very peacefable way and without violence can make a difference.

    Do what you can to protect your legal interest in the Courts, but let’s please not lose sight of the fact that we can supplement that effort with a team that must move ahead .

    I know there are those that feel strongly the government has its place in this effort, they do, but we do too. And it is because no relief, reform or reasonable resolution has been made to protect the consumer on this front, we deserve the opportunity to try to make some gains on our turf.

    Elizabeth Warren I know will understand why we would form the organization and I am sure that she would, for the most part, do what she can. But the truth of the matter is, she may end up being a king pin for the feds even though that in my opinion would not be her intent whatsoever.

    Websites going up everywhere – Too spread out under too many sites. One must know who will stand on this issue by reporting in to a common site. No one can commit until we know more about the true mission of the Organization:

    Anybody ready to fill in the blank as to what that mission express. Lot of really good people on this site – that know their stuff.

    Of course we understand and know that is going to happen.

  11. Sorry to blow up this thread but this line is just lovely “it will be nearly imposdible for corrupt governments to steal wealth from their prople”

    and so this system has my vote!

  12. point is there are entrapreneurs out there finding ways around the stronghold of the banks and credit card companies you should all read thus article it’s the shape of the future
    think about paypal
    necessity is the mother of invention!

  13. I’m so serious this guy Ivey has figured he links paypal to Twitter accounts it’s called twitpay
    ( a twit means a stupid person in uk lol) but anyhoo there are 15,000 users at the time if the publication! I am so stoked

  14. Viva ka iPhone we can tweet money to each other

  15. oMG listen to this I have a magazine here calked wired money the front page says ” money wants to be free.. The reign of the bank and credit card cartel is ending a new wave of financial upstarts is liberating your cash – AND the economy”
    this is 2010 vangard group publication. Vangard marketing corporation, distributor
    I found it very exciting read.

  16. Shelley, I do so agree with you. I thought of this a while ago. After getting my ‘free’ credit report, I realized that the Credit Agencies are just as much Full os S–t as all the other agencies. Credit Agencies should be investigated!! They accept Bank’s word as the truth and put it on our credit report, without real proof that the information is “TRUE”. Who/what gives these agencies the right to do this? We truly have a big MESS here in this country. I pray a prayer, daily, for all of us who are victims.

  17. I came to stated in 99 with two suitcases andenough for a small down payment on my first home in united states I have always held a mortgage since I left home and always paid off all my debts each time I sold my home so here I am in the land of the free home of the brave and loving the weather where I tripled my salary in 5 years I worked very hard I paid as much as
    21% interest rate for 5 yr whilst I build a credit/
    fico score ito around 750 I sold the first home
    and paid off all my debt then I bought another
    modest home and the lived there 2 yrs and
    that’s when things went pear shaped induced into a deal at the height of the bubble and
    I became a prize target for the banks or rather the entities I will call their prostitutes I was
    clueless because I have Been in healthcare my
    whole life I had a great fico score and good
    salary so I got into a deal that made me the
    victim of my own success… 10 yrs starting over only to be robbed of everything I had worked for but also everything I had hoped to have and to
    maybe RETIRE one day My fico is now about
    530 snd falling and in there lies my freedom I’m
    opting out because IT DOESNT
    WORK. for me or those people like me, For the
    first time when I tried to pay for car repairs at
    the car dealership I was treated like a second
    class citizen they have a method now of checking if your a risk when you write a Check
    its an insurance ! I asked them ” what you
    doing here? ” Well thats what were doing
    do I guess I better start liking it!
    and shame on me feeling like a deadbeat it
    made me ” a bit cross” and when a Brit is a bit cross they are pretty furious. It’s a shame when ii think of all the taxes they collected from people just like me.

  18. The banks are living off their detor slaves who are paying high interest on credit cards. If everyone would go to cash and cut them off it would be one way of helping our cause and America. Cut off the banksters. They send cards to our 18 year olds as soon as they have their 18th birthday, like sending drugs in the mail to get them hooked and make them their slaves for the rest of their lives. I for one out of curiosity, thinking it was probably lower than it was. We must wean ourselves of these banks. I only have a debit card and I dont like it. They charge for the use of it. I have to order supplies from other states for my business, so I have to have a debit card. I pull cash out of my account and try to buy everything I can with cash . Sometimes I pull cash out of my account and send a 7-11 store or Wall Mart money order.

  19. Carie if you live without credit you are a free person.

    People with a high fico score can’t get a descent loan anyways.

    When the Banks decide to give out loans again you will be able to get a loan.

  20. @cubed2k

    this is so funny (sad?),—you sound like my situation exactly!
    I’m about to go to the dentist (I know it will be a big bill), have no insurance, had to default on everything, living on cash only, don’t even care to know what my FICO score is—I like Dave Ramsey’s take: “A FICO score is just an ‘I love debt score’!”
    Never again.

    BTW, I finally watched the movie “Inside Job” today—WOW…
    …unfortunately I think it made my blood pressure go back up again…but it is definitely a must see, in case you haven’t already…

  21. I believe the credit score companies have been part of the bank fraud. The S& P , equifax, transunion, and experian, all of them. I would like to see the credit score companies investigated also. We should trust no one. I am pretty sure my score is not any higher than yours cubed 2k, the last time I checked it. We should be able to sue the credit score companies for evasion of privacy and fraud, along with the banksters. They are all in it together..

  22. Good News! However I want to see this at the big bankster level now!

    THURSDAY, MAY 19, 2011

    Fed. Court Affirms 29+ Year Sentence For F’closure Rescue Operator In Rackets That Local Cops, DAs, Texas AGs Cluelessly Minimized As ‘Civil Matters’
    The 5th Circuit Court of Appeals recently affirmed a 350-month prison sentence for Texas woman Rosario Divins (aka Rosie Divins), a notorious upfront fee foreclosure operator who, by reason of the length of her sentence, has apparently reached the end of an inglorious, 30+ year career screwing financially distressed people by falsely promising to keep their homes out of foreclosure in exchange for exorbitant fees.(1)

    Congratulations to the Texas Feds for properly pursing this racket that, according to a September, 2009 San Antonio Express News story, local cops, local DAs, and more than one Texas AG washed their hands of, dismissing the complaints as “civil matters.”(2)

    For the ruling, see U.S. v. Divins, No. 09-50855 (CA-5, May 16, 2011) (unpublished). Let this happen soon to all the bankster criminals .

  23. And I will tell you, Ben Franklin bills are a new addition to our family. Sorry banks, you do not get to keep them on your books as credit. They are under our mattress. Yes, we are holding your notes, IOU’s, for safe keeping as bank robbers are no longer. That was another farce.

  24. well here’s another take on that bullshit FICO score.

    From above Neil post:
    “In turn employers shoot themselves in the foot by using FICO scores to choose employees. ”

    I just had a root canal done, 1300 bucks. My insurance covered 300 of it. I have no credit cards having defaulted on them 2.5 years ago. I defaulted on my mortgage 1 year ago. We have been saving money. The dentist reguires full payment up front after the work is done. I did not have a check with me to pay them. they said just send it in and let me be on my way. So in fact, people are good and understand. Never once was my credit at question.

    Oh, does one see the illusion here created by banks. Oh, your FICO score is so important, you must protect it. My god damn FICO score is 520.

    ……..(‘(…´…´…. ¯~/’…’)
    ……….”…\………. _.·´

  25. Sometimes we have to hit the gutter to wake up and change our lives. This is the gutter and people are awake! Change will happen. We need to enforce not to allow it to become violent. Violence will only destroy America. I am concerned about the 800 concentration camps and the money put into Swat forces. I believe these criminals have planned ahead for martial law. Why would there be over 800 prisons built for FEMA,. or illegal immigrants, or what ever there lies are. Dick Chaney’s company Halliburton has been busily building and remodeling prisons all across America. That can hold over 200 million people maybe even as much a 400 million people. I know many of the contractors that have been working on them, here in the Tacoma and Seattle area. The only sensible way is to make public waves, and contact our Representatives and have non violent meetings in the streets with signs. And vote out the crooks. Look into organizing a possible national boycott of stop paying taxes for a month or something. Continue to expose the corrupt and push the main stream media to expose this crime. Contact 60minutes with more exposure. We can do this non violent. Violence should not be an option unless all else fails. I would not promote violence for any reason. Ask everyone to purchase yard signs and bumper stickers stating Americans are making a stand. Like slogans! I have seen some good ones on the web. “Homeowners Won’t Settle for Fraud! Punish the PERPETRATORS of the CRIMES “NOT” THEIR VICTIMS! “Bankers can buy politicians But “NOT” VOTES! Send the Bankster Gangsters to JAIL! If millions of homeowners and businesses had these in their yards the message would be a CLEAR one. Politicians are afraid of loosing their office. Organized people can and will be stronger than the banks. Ask everyone on the internet to organize doing this. We can make a difference. “Stop bailouts of banks! “Make Banksters pay for their Crime, not be paid for their Crimes. And promote NO violence. Violence can put us under martial law and cause deaths of innocent Americans. There has been to much death caused by these banktser and gangsters.

  26. I agree People with means have been screwed. If they have not felt it yet they will. Attorneys afraid of the banks will feel the income loss also. And the attorneys supporting the criminals must be brought to justice as well. These criminal attorneys that seek wealth over moral ethics, that could be exposing the fraud, could be making money protecting the innocent and exposing the partial judges and keeping the American we knew, must be exposed and sent to jail. They are committing the worst immoral crimes on American in our history. Thank goodness for the moral attorneys and media people and everyone that choose a moral path to help us fight this crime. There are evil people and their are good people. We are fighting evil and corruption. We need every American to voice their opinions to our Representative and to vote the corrupt out of office.

  27. We are in a battle to save America not our homes alone. By allowing this crime and betrayal of Americans, the government forgot who feeds the government. The tax payers, the homeowners, the businesses, the investors they government and the banksters screwed. They have betrayed there life support and wonder why their budgets are cut worse than they thought. No jobs, no businesses, no tax income to the government. On top of it they cheated the local governments out of recording money in the millions. With all the banks involved doing the same identical organized controlled fraud, this was no accident. The government puppets worked for the banks. The only ones that benefit from this is the corrupt banks. Obviously the government is hurting from all this stupidity. Only the elite wealthy have benefited from this. Not the wealthy investors that were taken to the cleaners, that keep the economy rolling, not the middle class not a lot of the upper class, not the poor. We have all been betrayed. The corrupt judges in the courts play a large part of the lawless corruption. We need to weed them out and find the judges and government officials that are not corrupt and throw everyone out of there positions that are corrupt. We need to vote them out and stand together sending complaints and proof of fraud. We need our Pro Se cases in States the attorneys will not help, and we need to demand the truth be brought to the surface and demand prosecution of the criminal. Every American needs to be on the phone and e-mail and sending letters to all their representatives demanding justice and to protect the investors and the homeowners and all American families to heal this country. The jobs will not be there if we do not. The corruption and the way this government has been run has OBVIOUSLY NOT WORKED. IT HAS RUINED AMERICA AS WE KNEW IT. WE CAN NOT ALLOW THIS TO CONTINUE. Call your friends and relatives and neighbors and customers. E-mail everyone. All of usare effected and millions of us are in the same boat. It is effecting everyone.I talk to is ANGRY Americans and flat out scarred Americans everyday. Put that anger into something positive and contact our representatives. Public waves work. Especially in the masses. All the bank money to purchase public officials will not get their votes. People are awakened to this atrocity and there is going to be change. I have heard there is a surprise by politicians that there is not a wave of people backing some politicians to be elected as there normally is. IT IS NO SURPRISE TO ME! This crime is so huge it has woke up the sleeping, that used to think being politically involved was radical or not necessary, because they were watching their favorite TV shows in the comfort of their cozy homes, they are loosing now to the few criminals that were happy they were asleep, while the crooks took over our country. We must all be involved and never let this happen to our country again. We must police every move our government makes. We must expose this crime for what it is. Homeland terrorism. We can not leave this mess for our children and grandchildren. American taxpayers have more clout than the banks money. America is to big to fail! NOT THE BANKS!

  28. We have a 2 tier legal system one for the big corporations and banks and one for the people our courts are controlled by the government then
    like health care those who can pay and those who can’t if you get sick and can’t pay well ….

  29. We need to convince.

    What we do have in our favor is that people with means are starting to figure out that they have also been Screwed.

  30. Human Rights is a misleading term.
    Human right is like a Drivers License, it is an earned right or privilege
    You need to earn and maintain it.

    You have to fight for your right to party (human right).

  31. But — working behind scene.

  32. carie,

    Second your post. Human rights?? America is no longer America.

  33. I heard just today wallstreeter blame government… I mean not wallstreet used government I mean government used wallstreet the x wallstreeter investment banker retired years ago very successful without stealing, he was amazing to talk to (ofcourse I couldn’t miss the oppertunity.)

  34. Also, neidermeyer:

    Please don’t say that we cannot successfully organize. We can and we will.

  35. @ The A Man:

    Not to mention creating an extreme human rights violations situation in America, where millions of people are either homeless, penniless, hungry, jobless, extremely stressed and depressed, or dead from a heart attack or suicide…this is the legacy of the GREED and TOTAL IMMORALITY of a FEW…who are now laughing all the way to their off-shore accounts…

  36. neidermeier:

    Enlist AIG as your (our) ally? Sorry, you don’t quite get it yet. AIG cares about AIG, not neidermeyer, not Jim, not bankslastchance. But please, stay with it because you’re getting there…..

  37. Persistent, consistent, revelations of FACTS concerning how LAWS were violated—regarding the whole “fake mortgage” and securitization debacle from start to finish is the only way to win…
    The LAW is the LAW—and because of deregulation the Banksters/Wall Street/ Fed morphed into sociopathic materialistic monsters, and forced their own MADE UP laws on us all…
    But now we know—and we have to keep pushing and fighting back—how ever we can!!!

    Thank you, Neil.

  38. Jim , Bankslastchance, maybe?,

    I came across something I think is ENORMOUSLY powerful , I’ve written about it here but nobody’s picked up the ball (yet) … It could be just what we’re looking for as it is information the true investors and harmed parties such as AIG can use to get GENERAL LEDGER access and bypass NY State trust law…

    We need companies with $Billions to pick up the ball for us ,,, we will never successfull organize the harmed homeowner parties … 95% think nothing’s wrong and the rest of us are too short on funds to get judicial respect… I don’t care where discovery comes from as long as the truth gets out in the public domain ,, e:mail me brian_tracy AT


  40. “What we need is simple to state: unity in the face of all these successful tactics to divide us. I intend to do something about that — stay tuned”

    You lead Neil. I’m in. Enough talk. Time for action.

  41. Jim:

    You said”. I am truly concerned that this entire matter could tip to widespread violence against both institutions in a heartbeat once the issue starts to become common knowledge and herd mentality takes over.

    That is exactly why senior author on the citizens against securitized fraud said what he did –

    Get an organization that can peacefully bring some kind of resolution to the table with the banks.

    why are the people not understanding that they must do something now themselves and not in tandem with federal agencies ? WE deserve our shot at a one on one confrontation taking an affirmative stand – why do we continue to talk talk talk and not do anything ourselves.

    It is what the banks are counting on – no organization to support and represent the people.

  42. Paul Krugman, a very smart guy, is not quite there, but very close to “getting it”. Pretty soon he will get it entirely and so will other respected editorialists like Mr. Krugman, who will explain it in the mainstream media as articulately as Neil did here.

    I am not too confident that once the real truth is understood by mainstream America that the citizen pushback against the banks and the federal government, who are sadly in cahoots with each other, will remain peaceful for very long. I am truly concerned that this entire matter could tip to widespread violence against both institutions in a heartbeat once the issue starts to become common knowledge and herd mentality takes over.

  43. Learned helplessness is a learned behavior like lying and being dishonest.Nobody knows how to do it until they are taught.The banks have been inter breeding this concept to each other for centuries.Difference is before 15 or 20 years ago they were kept in check.That was thrown out the window and they have been allowed to run amok unchecked ever since.Hence the problems we are all now expierencing.Nobody wants to take responsibility for allowing this to happen.Accountability is out the window and repurcussions are not taking place.Why?

  44. The banks also used the FICO score to pretend to approve modification loans, using a score they caused by the economic albatross they dealt Americans. Creating a catch 22. You loose your business or job and you can’t pay your debt,including your mortgage. You need a good score to be saved but the bank gives you a bad score posting you are in the rears on your loans, caused by they banks economic crimes. You become a deadbeat caused by the bank, so you don’ t qualify for the modification loan. Makes the bank happy! Credit scores should not beallowed to judge anything, due to how they bank is responsiblr for the economic disaster and lack of work and business. Americans are not the responsible party for the bad credit scores. The banks and our politicians, the Fed and Fannie Mae are responsible for the losses including the credit scores. I had over a 800 credit score all my years until now.

  45. […] Source: Livinglies’s Weblog […]

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