Just like the judicial pension investments loaded with MBS. NEITHER THE TRUSTS NOR THE PENSIONS EXIST. Won’t those judges be pissed in a few years? And who do they answer to at the end of this life for all the wrongful foreclosures they allowed and homeowners they screwed? Think there will even be any remorse?
It’s always best to start at the beginning. All REMIC Trusts appear to be written up as common law trusts permitted under the laws of the State of New York or the State of Delaware. The problem with the REMIC Trusts is that they are not common law trusts nor trusts of any kind.
Consider the definitions available. Based upon a modicum of research all definitions of common law trusts can be summed up as the following:
A trust is created by a settlor, who transfers title to some or all of his or her property to a trustee, who then holds title to that property in trust for the benefit of the beneficiaries. … Trusts have existed since Roman times and have become one of the most important innovations in property law.
So a common law trust must be created by a settlor.
The settlor is the party…
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