The following article struck my attention because it is a nearly exact replica of false claims of securitization. Bottom Line: They can’t all own the cow.
Anyone who understands securitization fail or false claims of securitization will see the parallels.
Same Cows Sold to Multiple People
CORSICA, S.D. — A report filed last week shows a man involved in a Corsica foreclosure case sold the same cattle to as many as four parties and has not accounted for more than 27,800 head. [e.s.]
Fifty-three interested parties have now been identified in the case against Robert and Becky Blom. An interim report filed March 5 by receiver Lewis Dirks indicated that as of Feb. 14, only 15 percent of the cattle which 29 parties claimed to have under the Bloms’ feedlot were being held between four lots, and some parties had received checks that bounced. [e.s.]
“At the time of the hearing on February 14, 2019, I had not determined a reason for being short so many head of cattle,” wrote Dirks in his report, stating that he had originally planned to start sorting out which cattle belonged to whom by looking for brands. [e.s.]
But the day after the hearing, Dirks wrote, he was approached by someone who said he had seen the same invoice in both his own and another party’s paperwork.
“Investigation revealed that Robert Blom had collected money on the same group of cattle from multiple individuals,” Dirks wrote. “I now have some groups of cattle being sold to as many as four different individuals.” [e.s.]
As of Feb. 14, Dirks reported that between the 29 interested parties he had spoken to at that point, 32,758.6 head of cattle were believed to be under Robert Blom’s feedlot. (The rationale for the 0.6 head is not included in the report). With 4,953 head reported as being on one of four feedlots, that leaves more than 27,805.6 head unaccounted for at the time Dirks’ report was submitted. [e.s.]
Dirks said that while he was at the Blom feedlot on Feb. 8, he was told that up to 35 truckloads of cattle had been removed from the feedlots the previous day, although he has not seen paperwork to verify how many head of cattle that might have included. [e.s.]
He wrote that he had documentation that cattle had been moved back and forth between Robert and Becky Blom’s feedlot and the feedlot run by their son, Taylor Blom. [e.s.]
Filed under: foreclosure |
It’s “The Producers” ,, he just forgotto tell the “investors” that all the cattle died from hoof and mouth…
Good one to share w others who still don’t understand securitization and fiat based fractal banking.
And banksters and their lawyers still get away w calling us internet crazies in their script
Like the guy who sold the ONE motorcycle to 7 different men who said they would only use it on ONE day a week. Everything went along fine as the men came in, each on their specific day, and left the bike at his shop because they didn’t want the wives to know they had bought a motorcycle. The owner relished in his BIG TIME SCORE. He sold that one bike seven times!!!! Except one week all seven men wanted it for a race on Saturday. Needless to say the cycle shop owner is not around to tell the tale.
In the Great Depression after 1929, Congress examined the mixing of the “commercial” and “investment” banking industries that occurred in the 1920s. Hearings revealed conflicts of interest and fraud in some banking institutions’ securities activities. A formidable barrier to the mixing of these activities was then set up by the Glass Steagall Act.