Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Listen to the massive media spin to blame the failure to pass the bailout and the spin to blame the Republicans, especially Nancy Pelosi
The market opened about 300 points lower and began declining precipitously around 1:30 pm looks like it bottomed out at around 1:45 and began to climb back about 200 points the bailout bill then failed to pass and  fluctuated +/- 50 points and then a gradual decline to closing.

Lets make the call ourselves instead of letting the news tell us what to think.

The roll call time lists eastern time and the DJIA lists eastern time

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I'm sorry the roll call lists 2:07 P.M. EST.
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Good post, Greg. This is all crapola. They are trying to spook us and too many people are falling for it.

All that is happening is that all the hot air bubble assets that had value ONLY ON PAPER (chopped, sliced, diced CDOs, etc.) are draining out of the market. That is a good and necessary thing. If it had not happened now, it would have happened later.

Of course, a lot of people who had deluded themselves into believing they were wealthy last week are freaking out because their net worth has fallen. Guess they were too dumb to know that the junk was never worth anything in the first place. Being wealthy doesn not mean you can't be stupid at the same time. Most of them appear to be friends of Bush/Paulson, thus the uproar.

These Wall Street guys could probably clean up selling ice cubes to Eskimos. I have always been in awe of how they were able to pull this off in the first place.

Hang tough. No action is what is called for right now. Investors need to learn to study their own investments and not rely on the "experts". The experts turned out to be snake oil salesmen.

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What happened is over the weekend the Street got over the quick fix euphoria of government protection and realized the bailout didn't address the leveraged exposure of the fact that the mortgages themselves control many times the debt of the mortgages themselves. It makes far more sense to add liquidity to the backing of the leveraged debt than to purchase the leveraged debt itself.

The problem is that these mortgages were converted into securities many times the value of the mortgage 30-60 times creating hundreds of trillions in uncollateralized or undercollateralized debt. Paulson and Bush want the taxpayers to pay off the leveraged debt of hundreds of trillions with taxpayers money instead of just maintaining the liquidity of the mortgages.

Wall street knows the taxpayers cannot come up with hundreds of trillions of dollars
and the market oppened about 300 points down and began to crash on the expectation of passing the bailout and began regaining as it looked like the bailout would fail. After the failure the market opened higher.

You heard on the news that Wall street was losing confidence the bailout would work and then they quickly shifted blame for the failure of the bailout for the market collapse though you can clearly see the time-line of the DJIA chart clearly refutes the medias portrayal.

Paulson is trying to force the taxpayers to allow the crooks to keep hundreds of trillions in money they created out of thin air using risking our mortgages as backing for their gambling.

The bailout has been going on for several months now and has failed Paulson used taxpayer dollars to bialout Fannie and Freddie to cover the leverged losses instead of writing them off and liquidating the assets to private interests and that resulted in the government transfering control of Fannie and Freddie to Paulson.

Paulson knows that applying the same plan to the entire countries assets will fail and result in the entire countries assets being under his direct control.

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