The Fraud Thickens

Did you hear the one about the guy who bought a house, only to have it stolen by the bank, and when he (and millions of others) went to his state's Attorney General for justice, was told, "Don't worry, were are here to protect you." Later a check arrives in the mail. The man opens it - and to his dismay finds it's only in the amount of $2000- his settlement for losing his house.
"How can this be? He screams to the Attorney General, " You told me you were going to help me!" The Attorney General responds, "Oh, I'm sorry sir- I thought you were with Bank of America!"

It's no joke - and no one thinks it's funny. This is the "settlement" offered to those defrauded by the banksters in the mortage settlement offered by the Obama administration.

As punishment for robo-signing and blatent fraud the banks get away with murder, and the defrauded homeowners whose homes were stolen get a slap in the face as a concession prize.

But wait, the fraud thickens.

Recently, the San Francisco County assessor released an audit suggesting that many, many more demonstrable crimes were committed during the foreclosure scam of the past few years.

“It is very apparent that the system is broken from many different vantage points,” Phil Ting, the county assessor, told the New York Times’.  Morgenson describes the audit as such: “About 84 percent of the files contained what appear to be clear violations of law, it said, and fully two-thirds had at least four violations or irregularities.”

That's not a mistake, or oversight on the part of America's biggest criminal cartel- those too-big-to-fail racketeers, masquerading as banks. This was the pre-meditated plunder of the American public.

And cowardly lawmakers and regulators continue to avoid the obvious, and treat the whole ordeal as something they would rather avoid- they are ignoring the devastation in order to sweep it all under the rug. Like indifferent passers-by, they ignore the dead horse in the middle of the road (Detroit). They consistently look for the easy way out of the enormous mess created by the banks - who it seems has them by the balls. The banks went on a greeding frenzy during the housing boom they created, by first offering risky loans to not only those who couldn't afford them, they went so far as to tweak other loans making them affordable only in the short term by manipulating naive borrowers into rising interest rate traps. Not to mention the robo-signing fraud fiasco along with destroying the time honored deed recording system with their invented third party trustee zombie called MERS.

And not one bankster, not a single one goes to jail.

In California it's a felony to create false documents, and squeamish prosecutors are reluctant to even mention the word "prosecute" when it comes to the bankster gangsters who have run rough shod over home buyers and county recording agencies.

As hard as they try to play pass-the-blame the banks can continue to hide behind brokers that sold inflated loans, or assessors who overvalued properties, to the ratings agencies that called a pile of junk bonds supposedly backed by mortgages - gold, they can't deny the fact that all of these miscreants were inspired to loot by the very banks that conspired to make it happen.

There is hope in the work of a handful of state attorneys general who have suggested they’re ready to at least direct one set of dirty words at Wall Street: “civil and criminal complaints.” The recent settlement is a narrow one, because California, New York, Delaware and others held out for the right to sue for fraud committed at the time loans were originated and at the time they were sold to investors.

The fact that those AGs had to fight so hard in the face of such enormous evidence of wrongdoing is proof of how well the banks’ “wasn’t me” strategy has worked. Still, if there remains a chance for accountability—if not restoration—in the Great Recession, it lies in the hands of people like New York AG Eric Schneiderman and California AG Kamala Harris, to whom the San Francisco County assessor delivered his audit. Four years after the foreclosure crisis began, we are all still staring down the bald lie that the nation’s largest banks aren’t responsible.

If the handling of the mortgage crisis has a message for America it could be seen as this:

1. That those who work in financial services are either way over-paid, only modestly intelligent, morally challenged or have fantasies of being a new American class of nobility known as the Oligarchy.

2. Laws are not laws. Laws are merely guidance's to be enforced at the whim of the government and its agents in a selective way OR to be enforced to the benefit of the new nobility.

3. Everyone’s principles have a price including those in government and law enforcement.

4. To be free from risk of prosecution you need to be too big, too connected, too hard to understand so that you can threaten the government with the idea that if they take you down you take down everyone else with you. Alternatively, if you can make prosecuting you too much work or too expensive you can cut a deal for a small portion of what you stole and never have to admit that you did anything wrong so you can still be invited into polite society and keep your golf club membership.

Disgusting.


Did you know that during the great depression in the 30′s no banker could buy a farm at a sheriffs sale? If they attempted they faced getting the pitchfork treatment, so none even tried. In fact no person bid against the farmer being foreclosed upon. He would often have the property for $1. It was possible because people recognized their enemies were dividing them and stood together.

These people were yesterday's 99%er's.


Is there anything left to loot?


How about Social Security - the vulture capitalist's holy grail. It’s what the payroll tax cut extension bill is really all about — defunding Social Security so that it can be served up, with plenty of savory green stuffing, to Wall Street vultures whirling overhead.



We have them out numbered.

 Had enough yet? Get off the couch and take a stand.

May Day 2012 Occupy Wall Street stands in solidarity with the calls for a day without the 99%, a general strike and more!! On May Day, we are calling for: *No Work * No School * No Shopping * No Banking TAKE THE STREETS!


P.S. Don't forget your pitchforks.



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