If you really want to revive SAVE the economy… Either the Congressional legislature or the courts are going to have to confiscate the bank patents.
Those on the cutting edge of foreclosure defense realize that the “new” securitization system was completely patented from the cradle to the grave in the USPTO… as if to make it appear legal. From the very inception of securitization starting with the Fannie Mae 1003 loan application software to the Wells Fargo targeted sales system… to foreclosure, REO and beyond …each and every step has been developed by some sharp IT guy and likely the idea and eventual purpose, patent and use was created from an idea by the higher-ups.
If the fraudulent foreclosure scheme, a defunct economy and the lack of any meaningful indictments within the TBTF cabal is bothersome… even in lieu of the huge fines, penalties and settlements for fraudulent activities that would send the average individual to the hoosegow for 150 years (just ask Mr. Madoff), then think about this: Okay, you don’t want to indict them – then confiscate the patents that the banks are using to perpetrate the fraud… ’cause they are still operating business as usual. Continue reading →
This is an interview of David Stockman on Bloomberg Radio today by Kathleen Hayes. David goes into the budget crisis and the downgrade. As usual he pulls no punches. “We have a far worse fiscal situation….by 2012, 2013, 2014… the deficit situation is going to be dramatically worse and our ability to cope will be almost non-existent….”
Chairman Bernanke presented his overview of a weak economy, suffering because investors just don’t want to come back to Wall Street like they had earlier this decade.
Mr. Bernanke, do you think it might be due to the numerous investor lawsuits for securitization fraud and deception caused by [your pals] Wall Street’s greed and Congress’ failure to regulate derivatives?… Maybe, yeah? You ask Congress for an incentive to bring investors back – regulation might be a good start to stabilization…’cause it sure didn’t work the other way! Continue reading →