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View Full Version : THE HEART OF AMERICA's ECONOMIC WOES!


Rick
11-13-2011, 09:39 AM
Dear readers, It is my belief that the heart of America's economic problems, social discontent and widening gap between the have and have nots began with the Housing Bubble and resulting economic crash in 2007-2008. While the foundation for this event began in the early 1990's, the resulting damage occurred when all the regulations were lobbied away in the 1999 passage of the Gramm, Leach, Bliley Act which allowed banks to merge with non banks and openly use derivatives and swaps to bet against defaults. At this time today, the financial industry has escaped relatively unpunished and the lack of regulation that caused the economic crash still exists. The power of the banks and Wall Street through their intense lobbyists seeps deeply into the politics of BOTH parties and because of this the American public is suffering at the hands of both the Republicans and the Democrats (sad to say but true), and effectively have to deal with puppet leadership (controlled by the Banks and Wall Street) on both sides of the fence. The US financial industry has successfully infiltrated governments highest positions to insure their security at the expense of all Americans.

In a November 14, 2011 article from the Ft. Lauderdale Sun Sentinel, LPS Senior VP, Harold Blecher stated that the longer delinquency rates are more evidence of a foreclosure bottleneck that could hinder a housing recovery. This news article makes Mr. Blecher look like a legitimate analyst, however, in truth, Blecher and LPS are paid minions of the Banking industry which is currently lobbying Governor Rick Scott (medicare fraud millionaire) to pressure the Florida legislature to pass horrific legislation which will allow the banks who caused the problem, to destroy Florida homeowners and the real estate market forever (please read on).............


http://www.lpsvcs.com/Pages/default.aspx?gclid=CODV6-iQsawCFQqb7QodgW9FGA

MISSION STATEMENT

LPS Applied Analytics (LENDER PROCESSING SERVICES

“Lender Processing Services (LPS) clients, include a majority of the 50 largest banks in the U.S., trust LPS’ in-depth experience, high-quality technology solutions and robust data and analytics to support their success.

LPS is the nation's leading provider of mortgage processing services; settlement services; default solutions; mortgage performance data/analytics; and real estate solutions. We are committed to helping clients reduce costs, minimize risk and grow their businesses.”


Effects of the Robo-signing scandal two years later:

1. The robo signing foreclosure scandal of 2010 effective shut down the foreclosure momentum across the USA.
2. Several large law firms were disgraced and punished for the robo signing and as usual, the banks covered their tracks and escaped the blame since their proof of standing was missing and the attorneys were obvious targets as representatives of the banks. Did the banks know of and approve of the robo-signing. If you think not, then you probably still believe in the tooth fairy.
3. Honest judges and attorneys follow the law of the land which requires that any person or entity foreclosing on the property of another must prove beyond a shadow of a doubt that they are the true owner. This proof used to be simple but in the mid-2000’s the big banks and mortgage lenders and the investment bankers of Wall Street teamed up to defraud investors by selling home mortgages as securities.
4. The major mortgage lenders created the MERS Corporation (mortgage electronic registration service) as a means to expedite the multiple transfers of mortgages and notes, and sidestep the taxes due the local counties and states for every ownership transfer which illegally saved the banks billions of tax dollars. MERS also creates a cloud on the titles of nearly 60 million mortgages.
5. The lenders major mistakes were: a. that they lost track of the original notes and mortgages for majority of the properties; b. the lenders and Wall Street were in such a hurry to replicate the securities partnerships that they violated the SEC rules for creating a public security and many of the properties did not follow proper time and placement procedures, rendering the partnerships invalid and ownership in question.

The mass and rapid securitization of the home mortgages of America by the major banks and participating Wall Street investment bankers was the direct cause of the collapse of the housing market because they created a false demand for real estate, falsified many homeowner applications and eventually caused the U.S. economy to fall into a deep recession. While a minority of weak mortgage loans defaulted in 2007 through 2009, the bank housing recession caused the business failures, the job losses and eventually the new wave of foreclosures and defaults which have occurred in 2010 to the present time, and they are still increasing because our elected officials are torn between representing the banks interests vs the peoples interests.

The reason the real estate market is still lagging is because our politicians will not do the right thing and force the banks to pay for the damages to the economy that they caused. While the U.S. Government and several large investor groups have been paid billions in damages from the banks and some Wall Street companies, the individual American citizen equally hurt by the ravaged economy has not been reimbursed for the damages they suffered. Truly the negatively affected American citizens should be allowed to sue the banks and Wall Street participants for the damages suffered and foreclosures as a result of the bank caused economy should be modified. The modifications should range from outright cancellation and forgiveness of mortgage debts to a major reduction of both principal, interest rates along with a long period of mortgage forbearance.
The banks receive money from the government when they foreclose and then sell the properties for prices lower than replacement cost which destroys any new building and sales. Short sales depress the values of homes in good standing and over time are creating more foreclosures as values continue to drop.

The tragedy of the situation is that the banks and their paid for mercenaries, i.e. The paid for politicians and self serving hired help such as LPS Applied Analytics are using incorrect information to deceive the news media and the public to send the wrong message about foreclosure and its effect on the economy. In 2012, pseudo conservative and rich (google his connection with medicare fraud) Florida governor Rick Scott and his puppet congresswoman Kathleen Passidomo (Rep. Naples) will make a plea to the Republican controlled legislature with a proposed bank lobbied bill improperly titled the Florida Fair Foreclosure Act, which is meant to turn the State of Florida into a NON JUDICIAL STATE, meaning that individual homeowners will lose their rights to defend themselves in a foreclosure action and the a the banks will bulldoze their way out of the foreclosure roadblock. The result will be hundreds of thousands of homeowners looking for high priced rental properties and many going homeless. The banks will glut the real estate market with short sales which will cause prices of real estate to fall even further and more foreclosures will happen as a result.

ATTN: NEWS MEDIA – Please do not allow yourselves to be used as a tool for evil power grabbing banks and greedy paid for politicians. We don't need extremist liberal or conservative paid to vote leaders. We need clear thinking leaders who have the best interests in the future of America as a whole and not just for a few and damn the rest. GOT IT? GOOD! Goodnight.