Greg Roy
10-25-2010, 03:13 PM
If you've been reading my emails, you know that the foreclosure crisis is more than just "sloppy paperwork" that was a result of "mistakes" that accidentally arose from an overwhelming number of foreclosures.
The foreclosure crisis is a deliberate fraud to cover up the mortgage securitization fraud.
This is a multiple trillion dollar problem that is very, very likely to cause systemic destruction.
When the banks and the Obama administration talk about "mortgage fraud," they want the public to think that ALL of the fraud came about from homeowners who lied about their income, and appraisers who lied about actual appraised value.
What they don't want you to focus on is the gargantuan lies put forth by those at the very top of the mortgage securitization pyramid.
And that's where the real threat to the financial system lays.
Professor Bill Black, the man who President Reagan appointed back in the 1980's to clean up the fraud in the S&L industry, wrote an excellent story demanding that we close down the giant banks that have committed tens of thousands of felonies (his words, not mine).
If anyone should know the intimate details of this fraud, Bill Black should. When he cleaned up the S&L industry, he received death threats, but was not intimidated and got over 1,000 felony convictions.
He's a professor of law specializing in white collar crime.
He's in the know.
And here is what he says about the Obama administration's efforts to "investigate" mortgage fraud, " 'mistakes', 'errors', 'processes.' No mention of 'fraud', 'felony', 'criminal investigations', or 'prosecutions' for the tens of thousands of felonies that representatives of the entities foreclosing on homes have admitted that they committed. Note that Donovan does not even demand that the felons remedy the harm caused by their past fraudulent foreclosures. Donovan wants them to 'fix' 'processes' -- not repair the harm their frauds caused to their victims.
The fraudulent CEOs looted with impunity, were left in power, and were granted their fondest wish when Congress, at the behest of the Chamber of Commerce, Chairman Bernanke, and the bankers' trade associations, successfully extorted the professional Financial Accounting Standards Board (FASB) to turn the accounting rules into a farce."
How can a multiple-trillion dollar fraud be ongoing right out in the open?
Is anyone even paying attention?
Actually, yes, lawyers are starting to pay attention, and the lawsuits against the fraud are multiplying faster than rabbits.
There are trillions of dollars in losses in the banking system. The question is, who is going to be left holding the obligation for those losses, the public, or the white collar criminals who committed the crimes and ran off with hundreds of billions in "bonuses?"
Somebody is going to have to pay, and one way or another, the trillions in losses will threaten the financial system.
This issue has gone viral, and the damage to the financial system will soon be exposed.
I hope you're ready, in the words of one well-connected source: "it's going to be brutal." Click here to learn how to protect yourself from the coming economic fallout... (http://wealthinsideralliance.com/crash-trader/?aff_id=664)
6333 (http://wealthinsideralliance.com/crash-trader/?aff_id=664)
The foreclosure crisis is a deliberate fraud to cover up the mortgage securitization fraud.
This is a multiple trillion dollar problem that is very, very likely to cause systemic destruction.
When the banks and the Obama administration talk about "mortgage fraud," they want the public to think that ALL of the fraud came about from homeowners who lied about their income, and appraisers who lied about actual appraised value.
What they don't want you to focus on is the gargantuan lies put forth by those at the very top of the mortgage securitization pyramid.
And that's where the real threat to the financial system lays.
Professor Bill Black, the man who President Reagan appointed back in the 1980's to clean up the fraud in the S&L industry, wrote an excellent story demanding that we close down the giant banks that have committed tens of thousands of felonies (his words, not mine).
If anyone should know the intimate details of this fraud, Bill Black should. When he cleaned up the S&L industry, he received death threats, but was not intimidated and got over 1,000 felony convictions.
He's a professor of law specializing in white collar crime.
He's in the know.
And here is what he says about the Obama administration's efforts to "investigate" mortgage fraud, " 'mistakes', 'errors', 'processes.' No mention of 'fraud', 'felony', 'criminal investigations', or 'prosecutions' for the tens of thousands of felonies that representatives of the entities foreclosing on homes have admitted that they committed. Note that Donovan does not even demand that the felons remedy the harm caused by their past fraudulent foreclosures. Donovan wants them to 'fix' 'processes' -- not repair the harm their frauds caused to their victims.
The fraudulent CEOs looted with impunity, were left in power, and were granted their fondest wish when Congress, at the behest of the Chamber of Commerce, Chairman Bernanke, and the bankers' trade associations, successfully extorted the professional Financial Accounting Standards Board (FASB) to turn the accounting rules into a farce."
How can a multiple-trillion dollar fraud be ongoing right out in the open?
Is anyone even paying attention?
Actually, yes, lawyers are starting to pay attention, and the lawsuits against the fraud are multiplying faster than rabbits.
There are trillions of dollars in losses in the banking system. The question is, who is going to be left holding the obligation for those losses, the public, or the white collar criminals who committed the crimes and ran off with hundreds of billions in "bonuses?"
Somebody is going to have to pay, and one way or another, the trillions in losses will threaten the financial system.
This issue has gone viral, and the damage to the financial system will soon be exposed.
I hope you're ready, in the words of one well-connected source: "it's going to be brutal." Click here to learn how to protect yourself from the coming economic fallout... (http://wealthinsideralliance.com/crash-trader/?aff_id=664)
6333 (http://wealthinsideralliance.com/crash-trader/?aff_id=664)