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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XRated

Wall Street Hikes Salaries For Top Bankers

Goldman Sachs To Make Record Bonus Payouts

 

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FT is great source. It shocking though they would refer to these banksters as people let alone talent. I found out treason is applicable across national boundaries and that's just what every country should do build a world wide network and declare these banking criminals and their cohorts international terrorists, hunt them down and treat them accordingly.

They don't deserve any better treatment than a deadly contagious virus. It is obscene to even hint that they serve a legitimate business function while the parent corp may very well do legitimate business perhaps even the bulk of it these organizations are corrupt from the top down. The biggest criminals are those at the top.

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Sara
Oh yes, after all their "poor mouthing" all of the sudden here they are into big profits.

And just where did all these profits come from?

S
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There should be a public kaneing, then they go to jail. Our Politicans are so complicit, June Reno on trail and the banksters visit the White House. Where is the Justice.I suggest durning the month of July, an emial campaign like the don't buy gas from Chevron email where everyone is encouraged to take money out of banks, sell stocks, don't pay mortgages, credit cards, buy only necessities. in other words stop the economy until the guilty go to jail, with a PUBLIC KANEING. Maybe with this: ethics could be restored and we could take our country back.

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Sara
James, we love you!!!  smoochies!!!
 
S
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James I think your sentiment is actually a rational response to an extreme and real threat.



Mike H. pointed a key point that we have a snowball effect in a recession or depression where the tax demands become higher while the tax revenue decreases we are seeing this here in California. This is the inherent danger of a pure democracy which the founding fathers warned us about and the reason property rights and sound money are absolute foundations of our capitalist republic.

Free market capitalism in its pure form is really checkbook dictatorship over corporations and the government which naturally seek absolute power and monopolization. In a pure democracy selfish interests create mob rule the end result of is either the poor or the rich seeking to gain absolute power degrades to Fascism, communism anarchy or dictatorship.

The Constitution outlines a self correcting balance it's based on fixed monetary value and the rule of law.

A fixed and stable money supply and absolute property rights are the cornerstone of self correcting economy, government, and society. We have to have a built in incentive for success and acceptable behavior or the natural tendency is for the least productive to use the government to seize assets for themselves.

With hard money the greedier a producer of goods or services is the more they have to serve needs in order to get paid so the harder they fight to get rich they more they give back to everyone else.

We do not have a free market and we do not have capitalism. Fractional reserve money and government regulations and tax code create a predatory environment for multi-national corporations that game the system to their advantage, and the government is only too glad to redistribute assets based on the emotional fancy of the day.

Under fractional reserve lending and monetary system the banks charge interest for lending the borrowers money back to them and charging interest for it and charging interest for allowing the government to print money.

If you think about it both concepts are really insane why do we provide banks with money in the form of the down payment and allow them to leverage or own money and pay back roughly triple the cost of the principle for money the bank borrowed from us in the first place.

Equally insane is the concept of paying the FED (private) bankers to validate notes issued by the treasury.  A note is a debt or promise to pay, the opposite of money which is something of actual value and on top of that the FED asks the government to pay them interest for the privilege of creating debt, well not only is that crazy it's the most highly illegal and treasonous action under the Constitution.

 

It’s not in our best interest for the government to create debt and for a group of private banks granted a monopoly by the government to get rich by collecting interest on those debts. The politicians then have a vested interest on selling us debt in the form of war or social services. It makes far more sense for us to just plain keep all the money we earn and give it to those we choose to start our own businesses with, pay cash for land homes and farms etc.

Only Congress has the authority to regulate money and fix standards the death penalty is mandatory for those debasing the currency getting kickbacks and diluting the money supply that goes for politicians and bankers. Under the law almost all lawmakers and upper level financial services industry leaders are subject to the death penalty for endorsing and implementing the bailout agreement which allowed the banks to keep the assets they letting though manipulation of the fractional reserve system which is already illegal in the first place.

Some people argue that the FED and fractional reserve is legal because it allowed the government to fund emergency needs prior to WWI and was authorized by Congress which has the right to delegate authority. That’s pure non-sense as people like Samuel Bush the Presidents grandfather who become the head of the war dept got rich and gained power using taxpayers to purchase arms and war materials to slaughter U.S. and ally troops for personal profit.

 

Like wise his grandson George Bush had no right using the FED and expanding the GSE’s Fannie and Freddie to create millions of loans designed to be unaffordable and force the taxpayers to bailout out the banks and cover the stolen money trail by shredding the Constitution and establishing a private banking dictatorship and transfer our assets to foreign interests such as China, the Saudis and E.U.

 

The first order of business in restoring our economy and security needs to be bring Bush, Paulson, Greenspan and the supporting cast Phil Gramm, Clintons, Dodd, Frank, Pelosi, etc. to justice and reestablish the rule of law, private property rights and due process. Treasonous offences have occurred it’s a mockery of justice to allow high crimes and treason to go unpunished and force the public into debt slavery, civil and foreign conflict as a diversionary cover-up.

 

We must regain our credibility and stability in order to prevent the snowball effect transforming us into a third world nation ruled by foreign interests. Sorry if I offended anyone by attacking their favorite or favored politicians but we really need to get to the bottom of this mess and let the facts and the rule of law play out and let the chips fall where they may. This issue of preventing economic collapse and ensuing civil disorder immediately is far to important to play politics, inject issues of personal interest and opinions into.

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Ella
James and Greg,
Thanks for the great posts.  I've been watching the news out of Iran for days..here are people who believe they have been wronged and are taking to the streets to express their opinion.  When they march (even peacefully with no chanting), they are chancing death.

We in the US have been wronged by our leaders, banks and a long list of others.  And yet we don't stage peaceful demonstrations even with the certainty that we would not be KILLED.  Each time we see another one of our congress members let someone off the hook who should be prosecuted, we say "well, I can't do anything about it".  Well, we can do something about it and we should.  A day of no purchases across our nation would be a start.  Be taking to the streets would give the world and our govt a visual- and a message.  Who's in?  

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Greg, I think you should run for Congress, you have my support.
Well, I think the email campaign would work. The email would have to be written to tap into the rage felt by most Americans, Liberals, Conservatives, and everyone in between. People are pissed. Hell, even my Republican BKrupcy Attorney is making plans to leave the country and live in Panama. 

What if everyone cashed their paychecks (not deposit them), paid bills via Money Orders, this might do enough damage to get our Politicans to act.
I personally am fond of the "Public Caning" idea. I would love to see the President of Chase Bank Jamie Diamon's ass bared to the American Public.  
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Sara

James wrote:
 

What if everyone cashed their paychecks (not deposit them), paid bills via Money Orders, this might do enough damage to get our Politicans to act. 
 


You know, this is an excellent idea.  It's how people used to pay their bills when using the envelope method of budgeting.  You can't bounce a check that way either.  And you folks know how much the banking industry loves us when we bounce checks $$$! Cha-ching, cha-ching...  No bounced checks = no easy profits!   Banks are very clever on the method they use to maximize the effects of one bounced check so you can pay for several!  

If you folks look at the frugal living websites, you will see many people are going back to this style of budgeting.  I see more people buying money orders these days at the grocery store too. 

The downside of this idea is that in many cities it is hard to cash a check without an account.  But this doesn't mean you have to leave all your cash in the account.  If you totally detest banks, Wal-Mart charges a $3 fee.  And actually paying that fee (even weekly) is cheaper than the service charges at most banks!

We can live without banks and they better start realizing it!!

S


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4 Justice Now
Yes, it's amazing how little we as a group have objected to the many actions taken by so very many of these scumbags, simply to satisfy their own greed. 

I recall there was at one time a usury law that prohibited banks from charging more than 17% for certain types of loans (I don't recall the specifics). Many who are now paying that 17%, for instance for a typical credit card, might actually consider themselves lucky because so many others are paying 29.9%, while the prime interest rate is at a historic low. I know the two may not be directly related, but there should be some level of effect.

This type of activity is criminal, it's domestic terrorism. The banks know it, our government knows it, and most certain of all our politicians aka: the lobby whores without a doubt know it. They should all be treated for what they are... mere CRIMINALS. 

And although bankers may happen to be one of the worst examples of this sort of behavior, they're certainly not alone. Many seem to have forgotten what is meant by the words: ethics, fairness, integrity, morality and honesty, etc.

After all, when was the last time that any company, which, you dealt with made you feel as though you were actually a customer, a person who represented some level of business that was in someway important to them, and not just some jerk who has a pocket full of money, ripe for picking?  

My opinion

R,

4J
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XRated

The Greatest Non-Apology of All Time

“While we regret that we participated in the market euphoria and failed to raise a responsible voice, we are proud of the way our firm managed the risk it assumed on behalf of our client before and during the financial crisis,” he said.

via Goldman Regrets ‘Market Euphoria’ That Led to Crisis - DealBook Blog - NYTimes.com.



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Jame
Lloyd Blankfein needs a Public Caning and a clawback of his personal funds, maybe then he would have real regret!
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Citi to boost employees' base pay by up to 50 percent: report

               
                       

                5 hours ago                
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                                                                        finance-20090624-BUSINESS-US-CITIGROUP-PAY                                                                

A pedestrian passes a logo of Citigroup in Tokyo

                       
       
                                       
                                                                                                                                                                               
                                       
                                                               
                       

(Reuters) - Citigroup Inc <C.N> intends to raise employees' base salaries by as much as 50 percent this year to offset smaller annual bonuses, the New York Times said, citing people with direct knowledge of the plan.

With an eye on retaining employees and neutralizing a drop in the value of their stock holdings, Citi also plans to award millions of new stock options to employees, according to the paper.

Citigroup officials declined to discuss the issue on the record with the New York Times, but told the paper the changes would bring the bank's compensation plan in line with the general Wall Street view that bonuses are a form of deferred salary and not one-time payouts.

In a statement emailed to Reuters, Citigroup said it is continuing to examine ways to ensure its employee compensation practices are competitive.

"Retaining and attracting the best talent is very important to the success of Citi and all its stakeholders," Citigroup said.

"Any salary adjustments are not intended to increase total annual compensation, rather to adjust the balance between fixed and variable compensation," Citigroup said in the statement.

The New York Times added that the Obama administration's new "pay czar" Kenneth Feinberg held introductory meetings this week with Citigroup executives and their counterparts at several other companies that have received federal bailout funds.

                                                       

FOXBusiness - Return of the Big Paychecks at Banks?

                                                               

Feinberg has the authority to set compensation for only the top 100 employees at troubled companies, according to the paper.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Lincoln Feast)

                                               
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XRated

Real Estate Associations Want Appraisers To Inflate Home Prices

 

"Appraisal fraud was an enormous contributor to the unsustainable run up in prices during the boom period. Many (but not all) mortgage brokers and realtors referred buyers to appraisers that ALWAYS hit the number of the home purchase price."

 

National ASSociation of Realtors NAR Lobbying letter

Mortgage Broker’s Anti-Appraisal Reform Lobbying and Effort

 

 

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