Second, once the government decided (years ago) to help any private company which was failing, because it was “too big to fail”, it became somewhat of an open season on the government. You end up with extremely bad situations.

Third, as with individual mortgages and as there was for Bear Stearns, there must be a very large string attached to the life preserver, such that any firm receiving a bailout has to also accept large losses. If they don’t then it becomes uneconomical to save them.

Fourth, the ties between government, both political and intelligence, and corporations (rich individuals really) don’t always lead to disasters. But, bring in the crazy Neo-Cons and Bushies and Right-Wing ideologies and you have a system which runs amok in a second.

Our salvation, if there is one, is in knowing our friends from our enemies (foreign AND domestic) and keeping enemies out of positions of power. Even the recent stories of Michael Ledeen and Iranians comes to mind. Here was the government associating with or being used by a foreign government. It’s as bad as the dual-citizenship (US+Israeli) Neocons and what they’ve gotten us into.

It’s a Democracy, if you can keep it!

I’ve stated this many times in the past that we are involved in another White House Coup. It’s been in the planning for decades with small changes here and there waiting for a special day they call “The Change”. As they say, “When the Change comes, you’re either with us OR you’re not!” However regarding the Mortgage Fraud question, “Black Op’s” for the Coup are funded in large part by a huge Drug system that my exwife’s family is directly involved in. The Drug system is Globally massive and all elements involved are protected by corruption from the point of origin to each and every destination.

Links:
http://www.madcowprod.com/
http://narconews.com
Reporter: Bill Conroy

My ex-sister-in-law’s brother “Clyde O’Connor” was busted in Seeptember in Mexico with ~4 Ton’s of Cocaine and he is still at large to this day. The family hasn’t shown much interest in wanting to get out probably because they feel as being a CIA Asset, they are exempt. Frankly, this insanity is changing also.

When you sell products ongoing to individuals, there considerations that need to be made since the security of the business is to be able to collect money on a regular basis. Guess who else is involved with making sure the client has enough money to pay?

Marty Didier
Northbrook, IL

Do you know what to do if your lender suddenly says you owed 20$ in back payments and you know this isn’t true. Let’s say you have a sale on a house pending and you just want to pay off your loan and buy your new house. There are stories of people getting a pay off number, having the loan bought out, then buying a house going to pay off the loan and finding out the pay off has increased by 20k. What do you do?? You call the lender, but what if the lender will not take your calls and you blow a week trying to get a hold of someone. Then what do you do?? Contact who? It takes time to figure out the next step. I went to the FDIC (6 weeks turnaround, the attorney general-have to have 4 weeks to investigate before they get back to you, then that takes two weeks) in the end time is money. While all this is going on you will be accruing fees. Do you know there are no laws to protect the you in regard to miscellaneous fees? Congress had it written into several different versions of bills but it was nixed each time.

If you are going through it, it feels like someone walking into your house and stealing your security. It’s an awful feeling. The fight is not easy. And do you know who most people automatically believe when you tell them that the mortgage lenders says you owe more than you do?? It isn’t you. They will put you off assuming that the lenders have better accounting than you do.

They have huge teams of lawyers who have already cut their teeth in class action suits finding every loop whole. There is only one way to end this night mare and it will require a full scale investigation and probably some kind of intervention. On the macro level it’s all a shell game with no pea.(in the pod)

Attorney General Michael B. Mukasey either knows that this is one of the main methods used to launder money by criminal factions within and linked to the Federal Government OR he is being instructed not to go there.

As an example, I know personally from the family that Dubai is heavily involved. Don’t forget that they currently have a huge building boom going on within their country. However back around 1990, I was told that Mandarin Oriental Group has board members who have MOB affiliations and is where a large amount of stolen US Tax money goes. Mandarin Oriental Group is owned by “Sheik Mohammed bin Rashid al-Maktoum” who also owns “Dubai Ports World of Peninsular & Oriental Steam Navigation Co”. Do you remember the Dubai port scandal earlier during Bush’s administration?

The Chicago Tribune did an investigation on Mortgage Fraud that later made it appear when you read it that the culprits were small time lower level administrators. I tried to post what I know and every attempt was deleted. When I find the links I’ll post them because I just tried searching on the Tribunes site and Google and they aren’t coming up. Per the family, the Tribune and Sun-Times both have CIA operatives working within the companies who’s job is to make sure bad news doesn’t surface. My posts explained the relationship the big Banks have with the Newspapers to cover up the huge Laundromat pointing to the inequities described in the article. Beware though that there are also other CIA operatives working at Radio stations and other News Papers as well. It’s important to remember that the NET involved here doesn’t stop with just what was explained above. It’s huge and provides security for all the high level people involved. It continues into other areas that when they surface will totally amaze everyone. Hence because this topic is so huge, it makes perfect sense for Mukasey to steer away from it.

There’s a lot more to this as it also includes protection and security groups who oversee the Laundromat. This is another area for another time and includes many murders and attempted murders. You can ask a friend of mine who’s close friend of 10 years was murdered by this group.

Marty Didier
Northbrook, IL

“JPMorgan Chase memo titled “Zippy Cheats & Tricks”. The Oregonian obtained a copy of the memo, and the memo apparently offers tips on how to get loans through Chase’s in-house automated loan underwriting system:

“If all else fails, the document states, simply inflate the applicant’s income. “Inch it up $500 to see if you can get the findings you want,” the document says. “Do the same for assets.”

One of the biggest players in the mortgage market was UBS.
Phil Gramm is vice chairman of UBS.
Phil Gramm is also the senior economics adviser to McCain.
Phil Gramm is also the guy who rammed through the changes to banking laws which made the whole mortgage mess possible.
Any (honestly done) investigation of the mortgage mess will, inevitably, lead back to UBS, the changes to banking laws and … Phil Gramm.
If it leads back to Phil Gramm, it leads back to McCain.
Mukasey wants to stay in his job as AG in the event McCain wins the election.
Leading an investigation back to McCain, won’t get him to keep this AG job, if McCain should be elected. There’s already a bit of a storm brewing over the investigations of UBS in which they’ve told their execs servicing high-net worth people to stay out of the US lest they get subpoenaed or arrested. There’s likely to be a tax investigation, too. Think how bad it could get if everyone with a mortgage problem wakes up to McCain’s chief economic adviser being the guy behind that problem.

Sometimes, I guess, the simplest explanation might be the right one. That obtains here.

The analogy that I find most helpful to think about the mortgage mess is of a Google Map, where at each level you can zoom in/out. Part of the confused conversation about the mortgage mess arises because different people are looking at different ‘altitudes’. The dynamics at the individual level are very different from 20,000 feet.

In an era when people are viewing ‘investment’ properties over the Internet, and moving money across states and national borders, Mukasey’s approach is about as useful as putting a tricycle wheel on a semi truck and expecting it to haul a 4 ton load from Denver to Miami. Either he doesn’t understand the technical problems, or he’s protecting someone(s).

Financial models aren’t working.
Wall Street and the mortgage markets will bleat to the politicians to keep their bogus businesses on life support; meanwhile Wall Street uses the Fed to try and bail itself out via the commodities markets — a shell game likely to exacerbate the end of the financial era that took form under Reagan, GHWBush, Baker at Treasury, etc.
It’s the psychology of Enron on globalized steroids; driven by speculation and greed.
Consequently, it’s not sustainable.

Maybe the best thing to do is hold a nice funeral, shed a few tears, and then get excited about better economic models.

During the 1980s there were actually 2 banking/s&l crises, one roughly 1981–1982 and the other 1989 into the early 90s. They run together, partly because it took a while for the fallout, such as bank/thrift failures, to play out. In the heart of the eras, 1981–1993, about 2,887 banks and thrifts failed (there were a lot more of them then than now), but no one who had an FDIC- or FSLIC-insured deposit lost their money, and most had very little interruption in access to it. I know there were some losses to uninsured deposits, but don’t have it handy; the feds made good on a portion of those.