RSN: Austerity: The Wrong Prescription

 “…the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.”  Take over the mortgages – stupid! SEIZE MERS.

Austerity: The Wrong Prescription

Denise Brunal-Hicks, left, hugs her daughter Samantha, 18, as they stand next to a curb piled with their belongings. Brunal-Hicks was being evicted from her foreclosed home after spending thirteen years at the residence. (photo: Greg Kahn/Naples News)

By Carl Gibson, Reader Supported News
09 August 11

Reader Supported News | Perspective

f you were a patient in intensive care, sick and in pain, what would you say to a doctor whose only recommendation was cutting off your blood supply, meals and therapy, and redirecting your pain medicine to another patient who was already healthy and well? Would you follow your doctor’s orders, or sue them for malpractice?

For the first time in US history, our credit rating has been downgraded, meaning higher interest rates on Americans’ personal debt, like credit cards and student loans. Conservatives have jumped on this as an opportunity to bash President Obama, arguing that not enough spending cuts were made in the recent debt deal to avoid the downgrade. The media has allowed this to be the dominant narrative in the national conversation.

But Conservatives and the media are both ignoring page 4 of Standard & Poor’s research update, published August 5th, which explicitly states, “the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.” In their reasoning for our credit downgrade, S&P specifically attacks the GOP for threatening to not pay America’s bills in order to protect tax breaks for billionaires, corporate jet owners and big oil.

While Republicans and the corporate media bemoan the growing federal debt as our most pressing crisis, very few commentators, with the exception of folks like Allison Kilkenny, have mentioned the necessity of addressing America’s most crucial deficit – jobs. We’re on the verge of entering a double-dip recession, and there’s been surprisingly very little conversation in Washington or on cable-news networks about how to actually get millions of Americans back to work.
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By DEADLY CLEAR
Take over the mortgages – stupid!

“But Conservatives and the media are both ignoring page 4 of Standard & Poor’s research update, published August 5th, which explicitly states, “the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.”

S&P sees the need to create revenue – why can’t our government? Are they too close to Wall Street?  Taking over the MERS mortgages where nearly 50 states are struggling with the validity and legal existence of these questionable documents would be a good start in creating new revenues and jobs at all levels of state and federal governments.  States could start to recover some of their bad securities investments – that they will likely never see as BofA, Citi, Chase and Wells Fargo continue to tank.

What is so difficult about calling this a Tulip Bubble and taking over by eminent domain the MERS mortgages written between 2003-2008?  Seize the mortgages from all of the banks!  Even if you are not in foreclosure and MERS is on your mortgage, you likely have a clouded title as most states are now learning. Controlling law has established that a mortgage and note must travel together as a unit.  Separated the note become unsecured and the mortgage is a nullity.

A Missouri Court of Appeals held:  “Typically, the same person holds both the note and deed of trust. In the event that the note and the deed of trust are split, the note, as a practical matter becomes unsecured.”  In re Box (2010)

MERS has had to STOP foreclosing in its own name because of this unlawful scheme that has defrauded the states our of millions of $$$ of recordation fees and taxes, not to mention the loss of homes, savings, investments, pensions and retirement funds of the majority of Americans.  The anti-competitive MERS mortgage recordation scheme fueled the Wall Street securitization Ponzi scheme that collapsed the U.S.economy.  By its very design MERS created a restraint of trade wherein a lender had to be willing to defraud the regulators, states and counties, as well as the borrowers.

Slowly the MERS scheme is peeling away like an onion – making everyone cry.  Stop the madness and focus on the revenues! The banks have been paid. Remember TARP? AIG? FDIC?  The states have lost pension and retirement funds because they gambled against the law and the team – the public.

67 million MERS mortgages X $900 month mortgage payments = $723,600,000,000 new annual revenue.
Do you want to keep propping up and funding the banks?
Tell our State and Federal Governments to SEIZE MERS MORTGAGES!
(Order your batch of bumper stickers TODAY!) 

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