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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Where oh where have we heard this before?  Sorry Mr. President, your way too late for the added car and chicken,  If we're lucky, in two years we will be able to buy a can a tuna a week!
 
As a very disgruntled former republican, currently independent, I see no way out of the present economic condition other than rolling up our shirt sleeves and going to work, the "Old Fashion Way"! 
 
And you Mr. President must do your part, investigate the Manufactured Foreclosures'  because thousands upon thousands did make their payments, only to have them lost, discarded or intentionally not credited to their accounts! 
 
Also, investigate companies like CBASS and its RADAR computer systems that "Targeted" mortgage holders and "Forced" them into either Bankruptcies and/or foreclosures.
And finally look at the lawyers who knew their clients did not have the mortgage documents to support their foreclosure claims.  Investigate them, and lock them up and take their wealth that was stolen from the "Equity" of victims. 
 
Then most of us will do our part, get back to work to repair our government, the FED, and solve other problems we need to address, but you Mr. President, need to do yours!!! Make those in the SEC/FTC/FBI/IRS and the others, honor their pledge to our country!!! to "DEFEND and Protect" from foreign or domestic!!!  (Get the Domestic part?) 
 
No bill will solve this crisis without correcting and changing the individuals and the companies they used to create this domestic mess!   So Go to Texas for a week, have lunch and KICK SOME ASS! Before we have to begin doing it ourselves to save ourselves from becoming "Indentured Servants". 

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Bishop

Mr. President, you have a lot on your plate.

However, the problem is solvable with co-ordinated actions from Congress in the way of amending the tax structure as well as executive actions to stem the crisis now looming. Mr. Bernanke is duly scared. His urgency is obvious both on his face and in his voice.

Part of the solution is found in repositioning the consumer's outgo from credit card interest expenditures.

Executive powers inherent to the president's office are necessary to be exercised even more so than ever. YOU MUST ACT DECISIVELY.

The executive orders that should be executed within the next month should be being drafted now. However, I have yet to hear anyone from the financial community suggest anything other than what has been relied upon in the past.

The actions of the past are not a solution to the problems of today. These problems of massive financial fraud are not going to go away without meaningful actions on the part of all three branches of government.

So, Mr. President, you should be thinking of something other than what has been done before. It should be broad in scope and should address the issues of fraud in the financial sector on a scale without precedent.

Because of the framework of our current domestic economy....one that is consumer based and not manufacturing based, you must work within that framework that is currently in place.

However, you should be considering requesting legislation that re-establishes a rounded economy that is not just service/consumer oriented. You should create some economic incentives that encourage domestic manufacturing as well as minimize foreign investment in financial institutions.

You need new ideas that are really old ideas. But, you definitely need fresh new faces putting those ideas in place through a legislative effort that must be underscored by a return to the rule of law. You must act to make it clear that there will be dire consequences for those that have abrogated their duties under the constitution uphold the constitution by defending the individual's right to due process of law.

We, as Americans, will stand behind your efforts if you will confine yourself to initiating actions that re-establish the rights of the individual to obtain due process in the broken court system.

You have a Federal judge at the head of the justice department. The corruption at the state and federal court level must be addressed by an executive order to establish a task force to prosecute state and federal court judges that are depriving the individual to due process of law. If the head of the justice department refuses to implement the executive order, you must garner an explanation. If he cannot articulate a satisfactory answer, you must summarily dismiss him for his inadequacies and appoint someone who will implement policies established by statute and consititutional mandate.

Nothing less will do the trick. Sure, you could convince yourself that it was beyond your ability to act within the limits of your executive powers, but, when you go to sleep in the future, you will know you are deceiving yourself. And, as I believe that you are a good and honest man, you do not intend to abrogate your duties to act in a crisis that is unparalleled in scope. You will be challenged by the old doctrine established by the judiciary that a strong government is based on an independent judiciary. However, I say to you now without any reservation, that it is because of this lack of judicial oversight that the financial institutions of today have embarked on this fraudulent course of action since they knew there would be no consequences for their actions in a court system that protects the corporations and powerfully connected. Court have long averred that oversight over judicial actions will cause irreparable harm to an independent judiciary. It is the old "world is flat" doctrine relief upon by the Portuguese to discourage other sea going navigators from venturing to the spice islands and obtaining all those riches that the Portuguese had exclusive access to. Our justice system will not fall over the edge by establishing another tier of citizens courts for review of unlawful judicial actions. The passe' argument foisted upon the citizenry by the judiciary that alleges that our system of justice will be irreparably harmed by such oversight is absolute twaddle. If you fail to recognize this, you are being unduly influenced by a biased advisor. Your conscious must be your guide here. Think about it...the old platitude that power corrupts and absolute power corrupts absolutely is more apparent now as ever.

Mr. President, I'll pray for you tonight as I have done so many times in the past. God Bless you and keep you and your family safe. Meanwhile, please consider the foregoing and let your conscience guide you in taking decisive action.
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Thanks for this post Gary.

I'm a lifelong Republican and was shocked and outraged to hear the solution to an economic crises caused by deregulation of government/private hybrids, financial crime, and reckless spending/lending habits is to spend our way out of it though tax rebates. More astonishing still the tax payers will be expected to bail out the mess the financial criminals have caused coupled with the public complicity in spending and borrowing themselves into debt slavery and the governments lack of response to protect our common interests.

The sub-primes crises and underlying fiscal policies has stripped too much equity and liquidity from the current financial system for a conventional solution. If a conventional solution was possible under the current internationally supported debt based paper money system the solution would be to hold the financial criminals responsible and recover as much stolen assets as possible and restore confidence in the system, create solvent debt ratios, address the issue of public debt as immediate issues.

Addressing these issues will create a backlash and the politicians are afraid of.  They do not want to be blamed for a recession and trade pressures created by restoring the value of the dollar and the financial strength of our nation, restoring a tax structure which does not drive our jobs, manufacturing and services over-seas. They do not want to address the issue of foreign entities controlling larger and larger portions of our debt and financial services industries.

Did our politicians cut deals based on the reality of the situation or just plain sell us out? Either way we have the same result they did not do the right thing and we suffer as a result.

Our politicians have no problem raising the the tough and divisive issues of security but have done little or nothing to secure our economy, borders, property rights, jobs, trade deficit and don't seem to have any contingency plan for our economy if the current debt based monetary system goes in default or hyperinflation.


We need to have some sort of parallel economic provisions in place where the rule of law can provide order and protection to financial transactions and contracts. Many people argue whether that should be barter, hard money or some other economic system but the bottom line is if the politicians had the least concern for our security, well being, or our rights then they would have some sort of economic backup plan rather than putting all our eggs in the basket of debt based paper money vulnerable to foreign manipulation and trade wars.

It seems the main plan for economic disaster is martial law and shooting and imprisoning those not content to starve to death, or accept slave labor wages in response to an "emergency" situation that is totally avoidable.

The policy of letting the U.S. fall into third world debt slavery so the rest of the world does not hate us for our freedom and prosperity is no way to win.
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