Advice to Politicans: Run Against the Banks, not Foreclosures


“I will fight to bring the mega-banks under control”
” I will fight for reporting requirements that reveal insolvent banks before they threaten our financial system again.”
” I will fight for audits of reporting to identify exotic financial instruments that are cover-ups for PONZI schemes”

” I will fight to recover the losses that threaten the solvency of our retirement funds.”

I am Neil F Garfield, Esq., author and editor of, now approaching 8 million visits. In South Florida I was a Democratic political strategist and was invited to run for Congress, which I declined. I  would like to brin attention an issue that will help in the polls and the election: housing — without talking about housing. Talking about the banks.

Like most candidates, Candidates staying away from the issue of housing and the relationship of the housing crisis to the economy of the State of Arizona and the nation. The problem is that attacking foreclosure sounds to some voters that you are looking to give a free ride to people who don’t deserve it. It is easier and more effective to attack the banks generally and not the specific subject of foreclosures.

Candidates who have listened to my advice have followed this guidance: run against the banks, not foreclosure. Too many politicians are getting money from the banking lobby and making Wall Street off limits. People are still seething from the bailouts and tricks of “securitization” (which never actually happened) of defective, botched, mortgage closings. I am prepared to bring together hundreds of people in a free seminar at which Carmona is featured as the man who who understands the problem and the man who will fight to correct it. I have a big following.

The facts are that the defaults resulting in actual losses are still less than $2 trillion, but bailouts and purchases are now near $20 trillion (50% more than the principal of ALL mortgages); yet the federal government has failed to act on that because of the fear that if the shadow banking system collapses, it will bring the legitimate banking system with it.

This is not true. There are more than 7,000 community banks and credit unions who can easily pick up the functions of the mega banks thanks to the backbone of electronic funds transfer. All of these institutions are small enough to regulate using existing resources. Leaving insolvent mega-banks alone means that we either increase the regulatory budget geometrically or wait for the next, bigger collapse. 40% of the wealth of  America’s hardworking citizens and retirees was lost, but the question that is not being asked is where did it go?

The shadow system dwarfs the actual monetary system. The shadow system consisting of derivative contracts and insurance amounts to over $800 trillion in private contracts that are treated as cash equivalent. The actual amount of actual, real money issued by fiat by all countries across the globe is less than $80 trillion. Do the Math. But most of the $800 trillion is pure fiction that will not take one penny out of the economy of any nation, state or city, because they are offset by bets in the other direction. Yet the bets are counted cumulatively with the intention of holding a hammer over the heads of government agencies and officials — so their threat appears (shadow) than it really is.

Permitting the shadow banking to stay on the books without adequate reporting and transparency is an invitation to disaster. It is a disaster waiting to happen whenever it suits the banks to go after bailouts again. This is what is allowing the currently insolvent mega banks to show fictitious assets of their balance sheet and leave off $ trillions in liabilities resulting from their diversion of money from innocent investor-lenders and diversion of paperwork from those investors and the borrowers.

Next year, because of the reporting requirements currently allowed, pension benefits are going to get slashed against existing retirees. The “underfunded” status of these retirement funds has already been sent up as trial balloon. The follow up is “no money, no benefits” (or a reduction in benefits). Nobody wants to talk about that until the election is over. Jack Kennedy won the 19060 election because of a perceived missile gap. This is real. There is a gap between the money that should be in the economy and the investors who bought bogus mortgage bonds from REMICS trusts that never had the money or the loans. This gap will result in the inability of these funds to continue payments at current levels or require another federal bailout. Do your fact checking on underfunded retirement funds.

These insolvent banks are going to collapse — a prediction we have made through simple arithmetic, just as I did in 2007 when I predicted the banks that would fail, and the order in which they would fail.  People know it already and will not be surprised by a politician bringing up the fact that our economy is improving despite the downward pressure of sham transactions, sham assets and the non-disclosure of liabilities. A politician who brings the fight to Flake and other Republicans who have voted solidly with the banks, will strike a cord in even the most right wing “Conservative” republican.

Should you wish to receive any further assistance on the economy, housing or Wall Street, I am available by email and my cell phone 954-494-6000. Do a few focus groups, as I have. Include people from all parts of the political spectrum and you will find that one are of universal agreements is that the banks are to blame for our crisis. And government has not failed to properly regulate, they have failed to collect taxes and fees that would go a long way to balancing local, state and federal budgets.

When the American electorate is awake, they are pretty smart. They are awake now and most of them are waiting to hear from someone who wants to deal with the improper reporting from the mega banks who are insolvent but pretending to contribute to the nations GDP and employment. Just try it out — stop people on the street at random. Politicians are missing a golden opportunity to trounce their opponents. The issue is hidden only because everyone is afraid of it and it appears too complex to explain. It can be boiled down to a few simple phrases:

“I will fight to bring the mega-banks under control”
” I will fight for reporting requirements that reveal insolvent banks before they threaten our financial system again.”
” I will fight for audits of reporting to identify exotic financial instruments that are cover-ups for PONZI schemes”

” I will fight to recover the losses that threaten the solvency of our retirement funds.”

22 Responses

  1. Enraged….these crooks are who need a shrinks couch…this goes much deeper than fraudclosure. It is the psychology behind this plan that is evil. What they want to achieve from this robbery of the people is horrendous. No one will want to live under it. If that happens then we will really have problems.

  2. Funny how some people use that site as a shrink’s couch…

  3. When we look at religion with an objective eye, we see they are all being used as cults or radical groups of some sort that use religion to hide their nefariousness. I was raised Catholic…I believe in God…and yes, I do look to the blessed mother for strength. However, the leaders in most cases have an opposite belief from what they claim. That is blasphemous.

  4. Ivent. Re mr lilywhite
    He’s a Mormon and women can’t go to seventh heaven only men. But again weigh up worse of the evils I agree Obama must go simply because it could not be worse.

  5. Oops…I meant as reported by the Chicago Tribune Feb 6, 2007…this man is a fraud…& his agenda stinks.

  6. Read about it here…the black liberation theology belief of “disavowel to the pursuit of middleclassness” was reported on by the Chicago Tribune on February 6, 2012…

  7. I also don’t find it any coincidence at all that our lives are mirroring the oppression of black people and we are all slowly being rendered into slaves under this President. We are living under the worst economic conditions right now that we have ever seen in our lives that are only going to get worse under Obama & Bernanke and people still want to vote for this man…..? They are still drinking the hope & change kool aid …or is it the media who are drinking it? All I know for sure is this is all manufactured and my life & millions of others have been a living hell since this jerk took office & I don’t want 4 more years of his lies. What he & his cronies black, white and every color in between have done to this country is nothing good & they are despicable & disgusting liars..Obamas reign has been unbearable to watch.

  8. I don’t care if Romney is crapping out gold bricks and his dog is hanging from the roof….anythings better than this fraud who is in there right now. The way I see it is….the illuminati bloodlines hate black people and jews more than they hate our freedom. They want him to be the fall guy because hes black and his mother was Jewish…Obama is a Black liberation theology worshipper….they hate white people….Remember Reverend Wrights church…? Obamas mother was a Jewish Supremecist…so there you have their formula in Obama. Romney is not their man. He doesn’t fit the bill for who they want to take down the country. He’s too rich & too lily white to be their fall guy. I say vote for the lily white rich least we will get a chance to recover from the Obaminator.

  9. I read its a total of a quadrillion dollars in credit fraud. The debt they created out of thin air is several lifetimes of debt. However, the wealth they created for themselves is in the quintillions…. It is simply manufactured slavery for mankind. They all need to be sued and hung. The “someone is owed this money” only applies to all of us. Anything else is simply a way to keep their ponzi scheme going to weaken all of us.

  10. My message to politicians is do not tie your dog to the roof rack of your vehicle because he doesn’t fit in the car at the time… I heard Romney did that. No common sense and cruel what do you think he cares for people
    Look at the choices.

  11. “Investors” include people who “invested” in their homes—believing the banks knew what they were doing, believing the appraisals and the truth of the docs they signed, and believing their job was somewhat secure—or that they wouldn’t have too hard of a time finding a new one if it didn’t work out….but then the ponzi fell apart—the docs were lies and the appraisals were lies, and the whole system was built on layer upon layer of fraud and lies….how were homeowners/buyers(“investors”) supposed to know that?
    There are many, many different kinds of stories behind these homeowner victims…anyone who tries to lump everyone together as buying “too much home” or whatever is so far off base as to be completely pathetic and totally insensitive to the reality of what really happened and what is really happening….which includes the President AND Romney. We have a long way to go.
    And guess what—the perpetrators counted on us to do this “infighting”…so when we fight about all this amongst ourselves we are giving the enemy exactly what it wants.

  12. @Deborah Wynn, absalutely strong community banks and credit unions equal strong communities. @neidermeyer, Yes! Yes! and Yes!

  13. @shadowcat ,

    Likely they can pay back neither ,, as in every other fraud I know of the money has been mostly spent either sustaining the fraud or used in the business… the reason the fraud has been upheld by the gov’t is because they are involved and because it became too large. The derivative exposure must be eliminated first… I’d simply ignore it and let anyone who thinks they’re owed anything wait MANY YEARS like the rest of us for a court date.. 99.99% of it will just go away as one party or another will have disappeared.

    If I were king I’d put out the word that the rule of law WILL be enforced in my courts and just let the whole thing dissolve on it’s own. Imagine GS and JPM paying back TRILLIONS in federal taxes on their faked/invalid remics.. that would bring about the end of the fed and give control of the currency back to the treasury. All of “wall street” is corrupt ,, We really just need one good person in charge of regulation to put a few hundred heads up on pikes… cut most of the regulations and enforce the ones that really matter, we did fine with the rules as written from the 1930’s til the 1980’s.

  14. So true.

    NYC: New England Real Estate Agent acknowledges banking fraudclosure.


    2012 Presidential Debate #1: KingCast & Mortgage Movies see Romney and Obama ignore the harsh truth on RESPA and foreclosure fraud: It’s all about the Qualified Written Request responses that Courts allow banks to ignore.

    If a layperson on the street knows the deal with RESPA, QWR and REMIC fraud why aren’t President Obama and Mitt Romney discussing it as a pivotal campaign issue, right. Why are most judges allowing banks to violate Dodd-Frank/QWR with impunity?

    Because too many Americans are sheeple, that is why. We should not have to fight like this for the establishment and preservation of basic rights and some modicum of Justice, but yet we do….. just some of the things they didn’t teach me in law school.


    Sunday 7 October 2012

    Last Update 7 October 2012 3:22 am

    NEW YORK: The days when Wall Street banks could blithely hand out half their revenue in compensation to their staff without a murmur from shareholders have come to an end.
    In an era of leaner times and tighter regulation, big mutual funds and pensions are growing more vocal in pushing executives at investment banks to rein in pay and bonuses and consider more staff cuts. Investors worry that bank employees are getting too big a piece of a shrinking pie, leaving shareholders a much smaller slice.
    So far, much of the jousting is taking place behind closed doors. But the debate over whether investment banks should keep devoting roughly 50 percent of revenue to employee compensation is starting to enter the public realm through proxy battles and as more large shareholders speak out on the issue.
    “Sometimes executives are being rewarded immensely for just sitting in their chairs, just coming into work every day,” said Aeisha Mastagni, an investment officer at California State Teachers’ Retirement System, which manages $ 154 billion in assets.
    “There is a need to conform to truly performance-based compensation.”
    Wall Street pay was not a big concern to investors when investment banks were highly profitable and shareholders were reaping benefits too, Mastagni and other investors said. But large shareholders are becoming more vocal because earnings no longer justify compensation at pre-financial crisis levels.
    Last year, Morgan Stanley executives came under fire during some investor meetings, according to one person who attended those meetings but was not allowed to discuss them.
    At one meeting, he said, “furious” representatives from mutual funds who were among the bank’s 10 biggest investors sharply questioned executives, including the chief financial officer and head of investor relations, asking why Morgan Stanley could not cut compensation to about 30 percent of revenues.

    The rest of the Reuters article can be read at

  16. they just must be stopped the insanity of it. community banks where the share holders are its members. strong communities strong nation

  17. Yes Neil, keep pushing as we all are, you are the beacon of reason for many. Many KNOW and have for years. Yep Yep as I have stated before, waiting and watching and definitely listening, for the right one, and always wondered why they do not get it… although they… do… but refuse to step up, it would be a resounding windfall for whomever stands for the people’s homes and investments and sanity God forbid we loose all of our sanity in this scheme of theft.

  18. The Majic Question? Will the Investment Banks pay back the Investers or the Ins Claims? The Critical Question? Can they sustain either one and remain solvent?

  19. This Mass of Fraud and Greed aka Ponzi Scheme by Politicions must be laid to rest! Who Wants a Shovel?

  20. Amen Neil! Ask Questions before you Vote!

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