“The rich and powerful, they take what they want. We steal it back for you. Sometimes bad guys make the best good guys. We provide… “leverage”.” — Nathan Ford
In terms simple enough for even a circuit court judge to understand, Nathan Ford explains the mortgage-backed securitization scheme. When the wife of a missing mortgage banking executive said, “Alan said they were seizing properties they didn’t even own and signing foreclosure forms without even reading them…” Ford replied, “Oh yeah, robo-signing… yeah, that’s what they call it. What they do is they sign a thousand foreclosures and they bet that the homeowners don’t have the money to fight the case. Now the courts, they’ll stop it if your husband had proof…”
Maybe it was a premonition that creators John Rogers and Chris Downey constructed an episode where they go looking for a missing mortgage banker… who he ends up dead …as has been happening so often – recently… 3 years later.
Leverage is an American television drama series, which aired on TNT from December 7, 2008 to December 25, 2012 and can now be found on Netflix. The clip above was from Season 4, Episode 1 and called “The long way down job.” Leverage follows a five-person team: a thief, a grifter, a hacker, and a retrieval specialist, led by former insurance investigator Nathan Ford, who use their skills to fight corporate and governmental injustices inflicted on ordinary citizens.
The cast members are extremely talented and perfectly matched – the writing is superb. There is no doubt when you watch this segment you’ll be wishing that we had a Leverage team in foreclosure defense. Boy, could we keep them busy and it would never get boring, yeah?
Think about it …SWAT Team evictions, IT guys suicided with nail guns, bankers “falling” off 30 story buildings and family murder-suicides… Hong Kong, London, Cayman Islands stashed funds, bribed judges and politicians, legislators with “Friends of Al” mortgage deals …and that’s just a few highlights. There’s also money laundering, LIBOR rigging, and of course, all those empty trusts, shadow banking deals… and let’s not forget the patents.
The fellas behind this well-timed caper show are John Rogers, a feature writer who’s had a hand in scripts including the first Transformers and The Core, and Chris Downey, who spent most of this young century on the star-making sitcom The King of Queens. Before that life he was a white-collar criminal defense attorney. Ahhhh… intimate knowledge.
When asked in a interview with Writers Guild of America was the show manna from heaven?
“John Rogers: It is a little bit, but it’s one of those things where, if a writer had pitched a Ponzi scheme in the first season, I would have punched him in the head because, who’s gonna fall for a Ponzi scheme?
Chris Downey: A $20 billion Ponzi scheme? Get real. [Yeah, more like $600 Trillion. DC Ed.]
John Rogers: In a way what it proved to us is that reality is much simpler and cleaner and more ridiculous than anything you can come up with in a writer’s room.
Chris Downey: And, you know, even though this stuff really hit the headlines when we were breaking season two, when we were conceiving the show, it was in the wake of Enron and Tyco. This has really been building for over a decade. I had stock in WorldCom that evaporated. In my previous life I represented guys like this, so this is not a world that is unfamiliar.” [Read more HERE]
The charming Timothy Hutton is Nathan “Nate” Ford (“The Mastermind” or “The Brains” in the opening credits of later seasons): A former insurance fraud investigator for IYS Insurance operated by Ian Blackpoole and the team’s mastermind. The son of South Boston numbers runner Jimmy Ford, Nate originally intended to become a Catholic priest prior to becoming an insurance investigator. Nate becomes a thief to steal back what the wealthy have taken from the people on case by cases for hire basis. Now, doesn’t that open up some interesting angles with AIG, too???
Anyway, the point of this post is that it may take time (and we are seeing more of this) – but the MBS ruse (securitization scam) has made it to the mainline telly in your living room and as the Leverage segment and others air over and over again, more people (and judges) become increasingly aware that there has been a major scam on American homeowners and rip-off of American properties… not to mention deeply embedded corruption.
Watch a few segments and see if you aren’t wishing for Leverage to take on America’s favorite foreclosure bankster Jamie Dimon or for Alec Hardison to wipe out the TBTF main frames and memory of any and all accounts… not to mention some Eliot Spencer clock cleaning.
Hey, Nate – “let’s go steal some patents…”