Why We Are Not Repairing Infrastructure and Other Matters of Interest

Why and how did we get into the position that the leader of the Western world in innovation, manufacturing and technology is now falling apart and the politicians are fighting to stop the repairs? My answer to most such problems in America is follow the money. If we do it now, like all the other countries around the world, everyone will make money, the economy will be revived to historic levels and we will have a much better place to live with a burgeoning middle class fueling spending and growth like what we have seen in the past.

But if we wait until everything collapses, lives are lost and business grinds to a halt, THEN the price we would be willing to pay for the instant repair (even though substandard from the start), will be open-ended and the vendors who are hired to recreate America will be able to demand ten times the price they could if they did it now. So the smart move by business is to keep America waiting and payoff politicians to invent doctrinaire reasons for why we can’t afford to invest in new electrical grids, bridges, tunnels, highways, water, transportation etc.

It’s sort of like the trick played on us with prescription drug coverage in medicare. The law was passed only when the cost of staying alive was becoming unsustainable. So they passed a law that appeared to cure that but the caveat was that the government was not permitted to negotiate on price with the pharmaceutical companies which meant that they had a blank check signed by Uncle Sam. The result, with co-pays and doughnut holes now costs both the taxpayer and the patient even more than they were spending before.

Why am I writing about this here? Because Goldman, JPM and others are already being fined as they take monopolistic positions in the basic elements and supplies for rebuilding infrastructure for this century. They just can’t resist building their own infrastructure where they can manipulate the price of aluminum, copper and other things that will be needed when the outcry gets loud enough where politicians can say “I don’t care how much it costs, we must save America.”

We found a way to fund $2 trillion off the books for two dubious wars and we we found a way to prop up these banking behemoths through the Federal Reserve that is buying trillions of dollars in “mortgage bonds” that are completely worthless. Of course we will find a way to fund the infrastructure either off the books, on the books or both — as soon as the price becomes open ended like the wars and the drugs.

This is what Thomas Jefferson was afraid of back when central banking became a topic of conversation between he and his rival Hamilton. I always agreed with Hamilton because in my fundamentalist belief in capitalism and the goal of making as much money and creating as much commerce as possible. Upon reading Jefferson again, and reading Hamilton again, I am changing my mind — the Rothschilds were right, to wit: we can pass all the laws we want, as long as they retain control over the purse strings, they will ultimately control everything.

And so we have seen the legislative branch of government bow and kiss the boots of big business and big banking, we have seen the executive branch pretend that nothing bad is happening, and we see the judicial branch being very slow to accept the possibility that the securitization scam was nothing more than a PONZI scheme and that the investors and homeowners are owed a lot of money for theft of money and their identity which was traded as though the money and the identities were the property of the bank. And we even saw an admission from an investigator questioned by Senator Elizabeth Warren that when the truth was discovered the government stepped in to protect the banks and has not shared the vital information that the homeowners who were thrown out of their homes should not have been thrown out and were in fact owed money from the Wall Street banks and their affiliates. Nothing is changing despite a constant drumbeat of revelations that should scare the crap out of anyone who is thinking.

So get ready for round two: as the banks take control of our natural resources in preparation for a bidding war when we can no longer stand in live in a country of falling bridges, collapsing tunnels and blackouts to go comfortably with blackened water supply, we will once again get screwed out of the money that gets harder and harder to make.

Here are some articles to read and think about before you vote in the next election cycle and before we accept the likable guy or gal who is running. Are they running for their country or are they running for the people who pull the strings?

And give up your favorite labels. Labels are not an acceptable substitute for actual thought. Conservatives conserve nothing and liberals have not liberated anyone. Replace labels with a desire to read and get information beyond TV sound bites. Make up your own mind based upon your own information and cast your own vote. Don’t delegate your vote to some slick adman pitching a candidate. As a general rule, if it is on TV it probably is not true — or at least it is not enough of the whole story to make an informed decision.



U.S. investigators uncovered evidence that banks reaped millions of dollars in trading profits at the expense of companies and pension funds by manipulating a benchmark for interest-rate derivatives.


Lawrence Summers’s personal website includes two biographies and traces his career from Harvard University president to director of President Barack Obama’s National Economic Council. The site says he’s now teaching at Harvard and serving on corporate and nonprofit boards.

To read the entire article, go to http://bloom.bg/15ikclD

Banks sued again over CDS monopoly • An affiliate of MF Global sues, alleging 11 banks engaged in anticompetitive practices to keep the company out of the lucrative clearing business for swaps • It’s the third U.S.lawsuit making such claims (previous), and the EU has also filed suit • Those charged: BAC, BCS, C, CS, DB, GS, MS, RBS, UBS • JPMorgan (JPM) is named as a co-conspirator, while the ISDA and Markit are named separately as defendants • One source suggests the 3 U.S. claims could be consolidated into one case

Full Story: http://seekingalpha.com/currents/post/1174832?source=ipadportfolioapp

DOA: crowdfunded foreclosure rescue

BofA faces government lawsuits over mortgage-bonds • Bank of America (BAC) is facing a number of civil lawsuits from regulators over mortgage bonds. • The Department of Justice intends to move against BofA over one or two “jumbo” mortgage bonds that comprised loans which were too big to be guaranteed by Fannie Mae and Freddie Mac. • The SEC may file charges over one of those loans as well. • The agency may also sue BofA unit Merrill Lynch, which is facing charges from the New York Attorney General’s office too.

Full Story: http://seekingalpha.com/currents/post/1189272?source=ipadportfolioapp

GMAC Mortgage to pay $230 million as part of foreclosure review

Colorado Foreclosure Attorney Turned Whistle-Blower Alleges Fraudclosure Abuses

Colorado Foreclosure Lawyers Made $5 Million Overbilling Homeowners, Lawsuit Says


Florida bankers made risky bets, broke the law to make themselves rich before banks failed

31 Responses



    Reconsidering the Application of the Holder in Due Course Rule
    to Home Mortgage Notes

    Mark B. Greenlee and Thomas J. Fitzpatrick IV

    In this paper we investigate the history of negotiable instruments and the holder in due course rule and contrast their function and consequences in the 1700s with their function and consequences
    today. We explain how the holder in due course rule works and identify ways in which the rule’s application is limited in some consumer transactions. In particular, we focus on laws limiting application of the rule to some home mortgage loans. We investigate Lord Mansfield’s
    original justification for the rule as a money substitute, the lack of explicit justification of the rule by the drafters of the Uniform Commercial Code in the 1950s, the contemporary justification of the rule as a means of increasing the availability and decreasing the cost of credit, and the concerns of legislators and regulators about lack of consumer knowledge, bargaining power, and financial resources which caused them to limit the application of the holder in due course rule to
    some consumer transactions. We conclude that changes in policy
    justification, parties to negotiable instruments and the structure of the home mortgage market call for a reconsideration of the continuing
    appropriateness of holder in due course protection for assignees of home mortgage notes. We suggest further analysis based on economic theory and review of empirical research in order to formulate policy recommendations.

  2. What we should really be fearing – this recent push of media-cluster. Comet coming, Embassies Closed, Terror Threat, BOA sued (old news) by the US. It is like the drug trade – they give you enough back and a couple lower lying branches to set the appearance of regulation and authority.

    There is no coming back from what these guys have done – they can’t keep up with the required interest-velocity, and folks are getting tired of the private bank devaluing their dollar reserves.

    Watch for the release of the Chinese draw rights – and the slow transition away from from the dollar policy (lol) ,,, policy..

  3. Iwantmynpv,

    I sure remember. It was a year ago, right before Japan-China trade agreement in their own money, out of the petrobuck. And we both were “insane”.

    Well, I’ve kept on saying that nothing happens on a vacuum… there’s a reason for that! And none of that info was available in this country. I had to dig it out in the French, German, Dutch and Italian press, for Pete’s sake! This country still doesn’t know what BRICS is. It’s not for want of explaining it. Apparently, I’m a commie. Fine. Open minded commie is better than… whatever.

  4. Many demons to battle at every level of their evil game. Like an octopus! The CRACKER!

  5. I meant used to discuss the world bank – watch for competing currencies to start to collapse, gold takes another hit down to 1195, they cover their shorts and start accumulating.

    These guys are all short the market – and they continue to build short positions in US equities – one big snap – hit the currency market and introduce new currency for sovereigns and central banks, devalue dolls in 2016 and peg it to the international currency with less draw rights than China.

    Mayer Rothschild said it best… We never get it here… Most of us still believe that the Revolutionary War was about a tea tax.. check colonial script and see what it was really about.

  6. Chris, remember when we sued to discuss the world bank and BRIC’s,and these folks would call us crazy – even Neil now sees why mortgage fraud is old school – these guys are manipulating the energy markets – and it costs us dearly – and we fight mortgage fraud while the house burns to the ground.

  7. I watched the entire video yesterday Thanks again. And sent it out to everyone. This attorney makes good sense. I truly hope the tables are turned in approximately three months. This gives me great hope. The world can not survive on a con and fiat money. It appears our government has completely gotten out of hand. Lawless in the courts and crime beyond ones imagination. Looks like one judge in my state is going to see her day of reckoning. Due to a mandamus and a case being overruled in the state of WA. this will enable Judge Pechmans cases to be voided. The wicked witch is done! Her court is a crime scene. Pretty much most of the federal courts here are crime scenes. Good attorneys have been circling the wagon to go over her head and demand justice. Several cases in the Appeals courts in WA are on behalf of the Washington homeowners. The tables are turning.

  8. Apologies for interruption – but CA warriors needed to request the Glaski decision be published. See Glaski topic here, or follow link – http://www.foreclosurehamlet.org/profiles/blogs/please-write-a-letter-to-cal-court-of-appeals

    15 days to respond.

  9. Here is an excerpt of that interview of Karen Hudes who, as i mentioned earlier, was an attorney for the World Bank for many years, spoke about the incredible corruption there, became a whistle blower, was fired, arrested, prosecuted and is to be shortly reinstated with her full clearance as a result of in-depth investigations at the World Bank by many of the participating countries (184 out of 188 if i recall correctly).

    If you had any question about where your money has been going, here it is. And she confirms that the entire country along with every state, city and town were incorporated some 30 years ago in order to funnel a maximum of money toward both the Bank of England and Vatican. (Anyone checking SEC Edgar can easily check it out). This entire atrocity is being undone, one country at a time according to her (and i would listen to someone like her before I listen to Obama or Congress) and fiat currency is being completely phased out as we speak. My feeling is that if everyone holds tight for a few more months, major changes will happen and we shouldn’t have to leave our houses.

    One thing is certain: change “we can believe in” won’t happen thanks to government. It has to come from somewhere else.

  10. Don’t think the term “REPARATION cheques was said flippantly- every word in law is loaded. im surprised they did not call them redemption cheques- but that’s a karmic issue and they cant get around that one,
    I wrote back to say I am not in agreement I will not settle and no meaningful investigation was done so the damages are not assessed.

  11. Foreclosure review checks have been called reparation checks by a website.
    Searching for the legal definition of reparation in Black’s Law 2nd Edition,

    Reparation. The redress of an injury; amends for a wrong inflicted.

    So of course, cashing the check doesn’t keep you from pursuing your own law suit, but the check in and of itself is their ‘purported’ amends, or making right what they did wrong in stealing homes.

    at redress(dot)org the definition is
    Reparation is a principle of law that has existed for centuries, referring to the obligation of a wrongdoing party to redress the damage caused to the injured party. Under international law, “reparation must, as far as possible, wipe out all the consequences of the illegal act and re-establish the situation which would, in all probability, have existed if that act had not been committed.”

    There are other definitions at that site.

    There is the article from palmbeachpost entitled
    1.2 million foreclosure checks go unclaimed, 90-day deadline to cash
    Tuesday, July 30th, 2013

    That calls the checks reparation checks.

    If the injured party cannot appeal the amount of the ‘reparation’, then it’s not a reparation. How is it someone can be done wrong and the wrongdoer tells them how bad they had been wronged.

    Let’s see, wrongdoer puts out someone’s eye. Tells them, I ‘may’ have put out your eye. This is not an admission of guilt, but I offer you $10 and you cannot appeal my decision.

    Hardly reparation.
    Someone paying a thousand a month in a mortgage for 10 years should not get a $300 check as a settlement that cannot be appealed.

    Thank the judges for helping people to be robbed multiple times in this scheme. Robbed of the home, and robbed of an equitable settlement, and judges signatures are on all documents that the banks were issuing payments for ‘maybe’ wrongs where they took the real asset and are getting payments from ‘replacement people’ but complain when they have to pay $300. It’s ridiculous.

    Life is protected by their Constitution and their oath if they had one or took one. The situation is the judge used his court to ignore spirit, to ignore the Creator. The judge recognize and served the undead – a body brought to life a by the activity of some representative. Judges want to be immune from their decision to give a corporate body with no soul, that doesn’t produce a darn thing for the living, the shelter that belongs to life. Where life produces everything the people running the corporate body can get with the help of a judge. A judge wants to pretend the corporate body negotiated with life and gave life something for what it took from life. Judges give to owners behind the corporate body. They serve people so deceptive they will not appear in court to state their claim of a loss of right, or injury or loss of property. They send their hired goons to court with fake paperwork from their expensive computers and being part of the good ole boy club, if you don’t pay enough in the witch hunt, you can’t keep what you worked for all your life for.

    Inquisition with a new slant.
    Salem witch trials with a different accusation.

    Shocked by the daily bell article that HSBC gave 40 embassies, consulates and High Commissions until the middle of August 2013 to move all their money, and no other bank will take them as a customer.

    Seems the judges will be tied to the fraud when it all collapses anyway. Their pensions will be worthless, and those bonds they are holding from the court cases will be good wallpaper.

    They served the wrong One.

    The interest of those behind the banks were never for anything that was living, including a living judge. The judge had immunity only if they ‘did not know’ they were causing harm by their ruling.
    There are two years worth of cases 2009 – 2010 where it’s proven by the OCC/Fed review that judges caused harm in their ruling.

    They should NEVER rule a case where they don’t even know the law and how it should apply to both parties, or they accept the status of a party that has none, and ignore the status of a party that has the strongest standing in the suit.

    Meek will inherit.

    Trespass Unwanted, Life, Creator, People, State

    Watch, watch who comments. Ask if they are paid to do so? I know some didn’t like what stripes posted, saying everything posted had to help everyone in similar situations.

    I have been looking at the postings, and some have been way off topic. Is that a distraction? I will not state.

  12. I disagree. They are sick of doom and gloom.
    Heading home for the evening. Thanks again for this information.

  13. Shelly,

    Listen to it first. And then talk about it. Of course it is positive news! But get prepared to get a lot of flack: people don’t want positive. They want doom-and-gloom.

  14. Thanks figured it out before you answered. So good to hear this. Thank you very much. =)

  15. So happy to hear this. I already found the video and put it on facebook and am exposing it to long list of attorneys I am linked to and the emails to all people that are on my email. It is about time we hear some positive help is coming.

  16. Shelly,

    You click on the “Project Camelot…” title on top of the picture. It sends you to the entire interview on Youtube. And right underneath is the title. Now, if you want to post it, you just highlight on the top box of your screen http://www.youtube.com and whatever follows (it’s the link), you hit control C, you got into your facebook page and you hit control V.

    But given that it lasts over an hour, between 5:59 pm and 6:36 pm, you haven’t had time to listen to it. Why would you post on facebook something you know nothing about? Shouldn’t you listen to it first?

    What am I missing here?

  17. W I S C O N S I N I T E S
    please go to Wisconsin Law tab

  18. Christine, do you have a title or http for this video i can put on my facebook?.

  19. Shelly,

    Listen to Karen Hudes and get back to me.

  20. So what is the plan now?

  21. Shelly,

    It is not happening. That was the original plan. Not anymore.

  22. Carie I think this is the plan. They want America to collapse.

  23. Compare this…

    Friday, August 2, 2013, 11:44am
    BofA Tries To Block Class-Action Lawsuit

    By Colleen M. Sullivan

    Banker & Tradesman Staff Writer

    Bank of America moved to block a potential class-action suit in federal district court yesterday, saying the plaintiffs had failed to produce evidence of widespread abuses.

    The case before U.S. District Judge Rya Zobel in Boston involves claims by several homeowners who sought loan modifications from Bank of America under the federal Home Affordable Modification Program (HAMP), an initiative introduced by the Obama administration in 2009 to help distressed homeowners keep their homes.

    Lawyers for the plaintiffs allege that Bank of America deliberately lied, stonewalled, and mislaid documents in order to prevent homeowners who were successfully completing trial modifications from qualifying for permanent mods, enabling the bank to foreclose instead.

    If the plaintiff’s lawyers are successful at turning the case into a class-action suit, a pool of approximately 300,000 homeowners who attempted to get HAMP mods from Bank of America might be covered by the suit, plaintiff’s experts allege, greatly increasing the bank’s liability.

    But lawyers representing Bank of America struck back hard against such a possibility, saying that despite months of looking through documents the plaintiffs haven’t presented any proof that the problems with HAMP mods were part of a policy put in place by Bank of America.

    The plaintiff’s “allegations about how a few employees claim to have treated loans that they handled-even if credited-cannot be extrapolated to establish a common practice across the entire class,” the bank’s attorneys wrote in a filing to the court.

    … with this

    Judge Denies Bank of America’s Dismissal Request Involving HAMP Denials
    Fri, 2011-07-08 17:33 — NationalMortgag…
    Black Gavel Pic/Credit: Brand X Pictures

    Judge Rya Zobel has ruled that Bank of America must answer to tens of thousands of homeowners who say they were improperly denied their home loan modifications under the Home Affordable Loan Modification Program (HAMP). In her ruling, Judge Zobel denied Bank of America’s motion to dismiss the case, and clarified which homeowners could continue to pursue legal claims over the bank’s handling of $25 billion of taxpayer money designed to allow homeowners to avoid foreclosure. Bank of America is obligated under HAMP to offer alternatives to foreclosure and permanently reduce mortgage payments for eligible borrowers struck by financial hardship but, according to the lawsuit, the bank has not lived up to its obligation.

    Same judge, same bank, 2 years apart. Given the first decision in 2011, what do you want to bet that new class action will be allowed to go forward?

  24. This is not going well for HSBC…

    Monday, August 05, 2013

    Florida Appeals Court To Rogue Bankster: Not Only Was Your Foreclosure Action Dismissed, But The Trial Judge Did Not Abuse His Discretion By Sanctioning You For Ignoring His Discovery Orders & Sticking You With The $74K+ Tab For The Successful Homeowner’s Legal Fees & Costs, So Pay Up!

    In Miami, Florida, the state’s 3rd District Court of Appeal recently issued the following ruling affirming a trial judge’s decision to sanction a rogue bankster (it thumbed its nose at various discovery orders) and stick it with the tab for a homeowner’s attorneys fees and costs for a successful defense against a foreclosure action(1) that was ultimately dismissed by the trial judge (by the way, the original foreclosure action was filed some time in 2009,(2) so one wonders how close the bankster is to Florida’s 5-year statute of limitations in the event it refiles the foreclosure action – Sec. 95.11(2)(c), Florida Statutes):

    This appeal stems from a foreclosure case filed by the lender, HSBC Bank USA, N.A., as Trustee for the Registered Holders of Renaissance Equity Loan Asset-Backed Certificates, Series 2007-3 (“the Bank”), against Gayle Williams (“the Homeowner”).

    The underlying foreclosure case was dismissed by the trial court based upon the Bank’s failure to comply with various discovery orders.

    The trial court’s dismissal in that regard was not appealed. In the matter before us, the Bank challenges the trial court’s order awarding the Homeowner $74,429 in costs and attorney’s fees.

    Given the Bank’s history in this case of disobeying court orders, we reject the Bank’s assertion that the trial court abused its discretion in sanctioning the Bank for failing to comply with the court’s scheduling order regarding attorney’s fees.

    Turning to the issue of the amount of the fees, the record contains the following evidence: (1) the time sheets and billing records of the Homeowner’s attorney; (2) the testimony of the Homeowner’s attorney; and (3) the testimony of two attorneys who offered expert opinions in support of the amount of fees.

    Contrary to the contention of the Bank, the record reflects that the Bank had prior written notice of the names of the expert witnesses who testified for the Homeowner on the issue of the amount of the attorney’s fees.

    In light of the substantial competent evidence in the record that supports the trial court’s findings, we conclude that the trial court did not abuse its discretion in awarding the costs and fees in the amount at issue. See Shands Teaching Hosp. & Clinics, Inc. v. Mercury Ins. Co. of Fla., 97 So. 3d 204, 213 (Fla. 2012) (“The standard of review for an award of prevailing party attorney fees is abuse of discretion.”); United Auto Ins. Co. v. Ricardo, 916 So. 2d 44 (Fla. 3d DCA 2005) (same).


    For the ruling, see HSBC Bank USA, N.A. v. Williams, No. 3D12-1784 (July, 31, 2013).

  25. Interesting…

    BBC, AFP, RT and other worldwide press agencies talk about the HSBC debacle. Not a peep from the US press… I wonder how long it’s going to be kept hush hush. Even Bloomberg is mum about it. Talks a lot about the fall of HSBC earnings, the hefty 1.9 B drug money-laundering fine approved by a NY judge and other tidbits. Not a word on that account closing little affair…

  26. Wow, it is really getting closer. The boom is going to be lowered, and the whistleblowers are really coming out.

  27. The beginning of the end. Funny that, a few days ago, I posted the list of all the banks in which HSBC held the majority of the share if not the totality. Strange coincidence…

    Karen Hudes, former attorney with the World Bank turned whistle blower, fired, prosecuted and… just rehired at the insistence of 184 of the 188 members of the World Bank, actually announced in her interview with Kerry Cassidy that the whole system would be done and over “within a few days”. Might we be seeing that…?


    HSBC bank closing accounts for diplomats in Britain

    August 05, 2013

    LONDON – Global banking giant HSBC is closing the accounts of foreign diplomats in Britain and giving them 60 days to move their money, a report said Sunday.

    More than 40 embassies and consulates are said to have been affected, including the Vatican, with the decision being described as creating “havoc” in the diplomatic corps.

    The situation has been worsened by other banks refusing to take their business and the Foreign Office has had to get involved.
    “We are in contact with HSBC and the diplomatic missions affected, and have provided a number of them with letters of introduction, to help in opening a new bank account,” a Foreign Office spokeswoman told AFP.

    However, under the Vienna Convention covering diplomatic relations, Britain has no power to force commercial banks to provide services.
    Bernard Silver, head of the Consular Corps, which represents consuls in Britain, told The Mail on Sunday newspaper: “HSBC’s decision has created havoc.

    “Embassies and consulates desperately need a bank, not just to take in money for visas and passports, but to pay staff wages, rent bills, even the (London road) congestion charge.”

    The London-headquartered bank said its decision was part of an assessment of business customers under which they must meet five criteria: “international connectivity, economic development, profitability, cost efficiency and liquidity”.

    A spokesman told AFP: “HSBC has been applying a rolling programme of five filter assessments to all its businesses since May 2011, and our services for embassies are no exception.”

    The Mail on Sunday said one diplomat told them he thought the bank feared being exposed to embassies after being caught up in a costly money laundering scandal.

    The United States agreed fines with HSBC of $1.9 billion (1.4 billion euros) last year over allegations of money laundering that were said to have helped Mexican drug cartels, terrorists and Iran.
    The bank admitted to having “inadequate” controls in place and accepted responsibility for the group’s past mistakes, as part of an agreement with several US authorities including the US Department of Justice.


    We will NEVER know…they are making sure of that. The “books” with the truth will never be opened.

    Everything will collapse before it gets better.

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