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barbara hazleton

Why do you call the Pope a gay cross dresser?

Al

She may be right, Elaine. The Pope is a fucking nazi who justifies the Holocaust (not the small against a lot of Jews, the really big one against us in the Americas)but he's not necessarily a cross-dresser. unless you're referring to a Wehrmacht uniform under the surplice.

Frank

The article Elaine cited is just too sweet not to quote further:

This is rampant fraud on every court in America or nonjudicial foreclosure fraud where the securitized trusts are filing foreclosures when they never own/hold the mortgage loan...

That means that the loans are clearly in default at the time of any eventual transfer of the ownership of the mortgage loans to the trusts...

This also means that many securitized trusts don't really, legally own these bad loans... a securitized trust cannot take an equitable assignment of a mortgage loan. It also means that the securitized trusts own nothing.

So with this decision, it appears confirmed that investors in the mortgage debacle may in fact own nothing — not even the bad loans they funded!


Neuro Artist

Let me get this right: in the process of re-packaging and re-selling these loans the deeds of the loans went missing (or they don't know where they are), further some of them were used more than once, IOW a 100.000 $ property deed may have 200.000 $ or more of loans tied to it, is that right?

I wonder what the scale of this fraud is, I guess no-one knows. Not only the people who got loans were deadbeats, also the people issuing them were. And the central bankers who covers for them are.

I think there is a similar siuation in the stock market. Many people believe they own stocks, that sits with a brokerage, but they actually don't, because the brokerage has the stock certificates, they merely have a claim on the brokerage to the equivalent of the value of the stocks they hold. The brokerage may use those stock certificates (if they even bothered to buy the stocks, you ordered and paid for), and borrow money on them. If the brokerage goes bankrupt, first the lawyers get paid, then the state/government, then deed holders of physical property held by the brokerage, then investors in relation to size. Small investors risk loosing everything, you'll get nada of your life time savings. At least hold the physical paper of your holdings, not an IOU from the broker, better yet sell what you have now and buy toilet paper for your money, that will at least have some intrinsic value in the future.....

Elaine Supkis

The past dozen popes were very restrained in their dress. This one loves to trot about in laces and fine fabrics with all sorts of gold trim and pretty do-dads. He is dressed as elaborately as a Victorian whore.

About the payments if someone defaults: the real ranking is very simple. The GOVERNMENT always gets paid off first. This is because power grows out of the barrel of a gun. So they get paid because otherwise they get physical. In the real world, the Mafia gets paid first for the same reason only it isn't legal.


Second is the bank. The holders of the first mortgage are first. The other liens are second. But right after the FIRST bank and second full-mortgage, in America, the EX-WIFE gets her cut! Trust me on this. Then everyone else gets it. The lawyers are nearly dead last. What they do is arrange things so they get paid somehow.

This is why it is VERY hard to find a good lawyer in these bankruptcies.

blues

Deutsche Bank AG — Headquarters — Frankfurt am Main, Germany. (From Wikipedia)

WHAT? Neighborhoods in America will all be owned by Germany and China, etc. America will all be OWNED by foreigners?

Time to stop worrying about the Mexican immigrants who will be renting communist Chinese-owned apartments!

DeVaul

I believe the way the lawyers get paid is by billing the client monthly and getting paid monthly during the proceedings and this is in writing before the lawyer even agrees to take the case. Otherwise, you are right, they would end up with nothing.

Then what happens is the investors who end up with nothing sue the lawyers after the case ends to recover all monies paid to them and of course the lawyers defend themselves and even plan ahead to do so.

We, the citizens and noncitizens, get to pay for the judges, court officers, court buildings and other public facilities that these litigants use to settle their private disputes that have nothing to do with us.

Then, when we go to court, we are treated like dirt because we do not belong to a corporation or government agency or bigshot lawfirm. The court still expects us to pay for everything, though.

I believe this is what being a peasant is all about.

Elaine Supkis

You both hit the nails on the head. :(


Ignorant Old Lady

Were the home owners paying, or not paying, Deutsche Bank for their mortgages? What about all the other foreclosures, past, present and future, where the homeowners have just left(or will leave as they can't afford lawyers)the property because of foreclosures and gone to live under a bridge or whatever? Were those foreclosures legal, do you think?

Can these foreclosed properties no one wants to buy, be sold legally to some other sucker? How could they be if the "mortgage holder" can't prove ownership of the mortgage? How could they have been foreclosed in the first place by some entity like Deutche Bank? Were the foreclosure filings "rubber stamped" by the courts without investigation?

As usual, I don't get it. I don't even understand why anyone would buy someone else's mortgage expecting to make money when life always intervenes when you're making other plans (paraphrasing).

Thanks to anyone who'll explain this to me in terms I can more readily understand, or is there a primer on all this mess you'd recommend?

Elaine Supkis

Dear Ignorant Old Lady,

You are what they fear the most. A person who asks questions and wants answers. The truth is, there is no primer for this mess. I and all the other writers online trying to figure out this mess are constantly astonished by the depth of it all, the mountains of stupidity and venality and of course, outright criminal conspiracies.

We just slog along in this mess, trying to stay ahead of it all.

Ignorant Old Lady

Thanks, Elaine. How about Inquiring, Ignorant Old Lady Who Wants Answers (IIOLWWA)? Too long, huh?

I inquired of NC's two Repugnant Senators, Burr and Dole, if they were financing their wars with borrowed money and how did that work and who did we owe the money to, and if that was what was meant by "deficit" spending? I do sometimes think I'm funny.

A female person from Burr's office called and left a message telling me to go to the Congressional Budget web site that would explain everything. Yeah, sure I will, girlie.

Dole sent me a snail mail explaining why we are in Iraq and should stay there and how important it was, and how she was against Bush in some areas, and for Bush in others. She did not mention money at all. Didn't even want to touch the paper after I read it. Long letter, too. So, I emailed her again thanking her for her letter, but I had asked about the money for the wars, and would she please explain the money.

Our district's Repugnant Dimocrat Rep, Mike McIntyre, didn't answer my question either.

What's an old lady to do? Keep asking, I think, as I'm sure to at least annoy their staff from time to time, as intended, and that's gotta count for something.

I'll have a follow-up for Burr in that I don't understand the budget data and how come we have a $9 trillion debt, and whatever I can throw in there because I don't expect real answers from any of these jerks.

Despicable people, all.

Elaine Supkis

Dear Ignorant Old Lady,

First, may I pour you a cup of tea? It pleases me no end that you actually asked your 'representatives' in our government about money. They usually ask YOU for money.

They need money all the time and spend many hours soliciting bribes.

The Japanese have bought $650 billion in US bonds and the communist Chinese who plan to destroy our military bought over $400 billion in these bonds. The Arab kingdoms that were the same kingdoms that those terrorists on 9/11 came from, hold another $300 billion of these bonds. They are the ones who are making us pay them interest so we can go to war and make oil deliveries from the oil kings safe so they can ship it to Japan and China.

And we get to hold the bag. Isn't that a neat trick? I just wrote a fairy tale about all this, 'The Good Ship Even Keel.'

Carlos

The following clip from Glumbert narrated by George Carlin pretty much says it all...

http://www.glumbert.com/media/wakeupamerica

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