You’ll be hearing a lot more about this on the Radio Show next week with Charles Marshall and Bill Paatalo.
Bill is a private investigator who I compare to a dog with a bone. He never lets go. After years of trying he finally came up with extrinsic proof that the “WAMU” loans claimed to be owned by Chase as a result of the Purchase and Assumption Agreement were neither owned by WAMU nor by Chase as “successor.” Neither the FDIC nor the U.S. Trustee in the WAMU bankruptcy had any control over those loans since they were not in the estate of the entity that went bankrupt or was forced into receivership.
All the documents that were produced by Chase were therefore entirely false, fabricated and fraudulent. Time to write your state legislators and congressional representatives. Until this fraud stops, the economy will continue to hemorrhage money that is badly needed to avoid another recession.
Close examination of Lehman, Aurora, Bear Stearns, Indymac, Wachovia, Wells Fargo, Bank of America and Countrywide and others will reveal the exact same thing. All those foreclosures current, past and future are providing profits to brokerage firms or banks that will never be turned over the the investors who funded the origination or acquisition of the loans.
Theft is not capitalism. The Wall Street firms who engineered this scheme were not capitalists. The capitalists were the investors who advanced the money and the borrowers who signed documents and put up their homes as collateral. Capitalism only works in free markets. Free markets means that there are opposing forces. If information is withheld under circumstances that is is virtually impossible to decipher the true nature of a transaction then there can be no opposing market forces and capitalism fails.
All over the word, starting in the late 1990’s, people, institutions and governmental units have been screwed. But they don’t really understand how it was done and therefore their lawyers have not devised a viable real action to pursue remedies for what is in the final analysis, the greatest economic crime in human history. I think the answer might be disgorgement.
It is my opinion that to this day the original investors still do not fully understand that they are probably entitled to disgorgement of trillions of dollars from Wall Street firms that converted investor money to firm money. It is also my opinion that borrowers are entitled to receive some portion of the disgorgement of compensation and profits arising from origination or acquisition of their loans that were never disclosed.
Filed under: foreclosure |
“JUSTICE ISN’T SERVED UNTIL CRIME VICTIMS ARE”
Kathryn Turman – Director of the FBI’s Office for Victim Assistance
Again, banks do not lend money, instead they issue credit as simple accounting entries based on usurious promissory notes that line their pockets! Furthermore, Banks really sell LOANS, personal loans, that are backed by the mortgage, a debt instrument, which is signed by the so-called borrower, which he/she unknowingly gave the banks permission to buy and sell his/her property over and over again to pay for the Loan, the promissory note. And, is tricked or deceived into thinking he/she has borrowed money from the bank ( the appearance of truth) when instead NEW MONEY is created by the so-called borrower with money based on real value through his/her Mortgage payments and has to make the monthly mortgage payments, principal plus interest, ( the actual truth). (For proof of this, see Money Creation in the Modern Economy, the first page enclosed, the link here: https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy
The truth is: BANKS DO NOT LEND MONEY. They appear to lend money. Most of us have believed they lend money, me included. Since it has been discovered recently that banks do not lend money, all the contracts that make up the appearance that they lend money and all the documents submitted to the courts are VOID ab initio.