The Securitization Debacle – A U.S. Pension Shortfall: $3.4 Trillion+ [$3,400,000,000,000]

By Sydney Sullivan

looting the pension fundsShortfall. Unfunded. Underfunding. Sounds like a minimal pension issue – however, it is anything but that. You may have heard the words “shortfall” when your state refers to it’s government budget or pension plan; and, if you are young (say, under 40), you’ve probably not given it a second thought. Just so you know “shortfall” is defined as “a failure to come up to expectation or need” and at 40 it seems like there will be plenty of time and ways to make up a shortfall… not so much when you are 60.

If you’re like many Americans, you’re worried about retirement. Maybe before the new century securitization scheme was launched, a “shortfall” might have been more easily explained and handled. But after 2000, the Wall Street securities system ramped up and took deficits to a new high while lining the pockets of Wall Street traders. How did this happen? Continue reading

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Why When The Truth Be Told – It Falls on Deaf Ears

This video, as our colleague Steve shared, is relevant today. Yes, Steve, it is even more relevant today because in 2010 it had only been 4 years of criminal behavior with no action – in 2016, it has now been 10 years and its like a snowball from hell rolling out of control – TBTF.  “Feed Me, Seymore!”

Georgetown law professor Adam Levitin testifies before Congress regarding the securitization disaster. Continue reading

The Delusional Bench Squad – Collective Insanity?

By Sydney Sullivan

You may not like this movie. Wolf of Wall Street may be too vulgar. But if you are still invested in Wall Street there must be some vulgar demon or wannabe rich guy inside you that is too delusional to get out.
It’s no wonder why homeowners can’t get a fair shake in court because it appears the delusional sit above, behind and on the bench.

wolf LD money“Mark Hanna: We don’t create shit, we don’t build anything.
Jordan Belfort: No.
Mark Hanna: So if you got a client who brought stock at eight, and it now sits at sixteen, and he’s all f**king happy, he wants to cash it and liquidate and take his f**king money and run home. You don’t let him do that.
Jordan Belfort: Okay.
Mark Hanna: Cause that would make it real.

Continue reading

Protesters Take To Streets Demanding An End To Detroit’s Water Crisis – The “City’s whoops” on the backs of the people… Al Sharpton tells it like it is!

CROOKS AND LIARS – Post:
n_sharp_detroit_140718_262853_560x315Friday morning there was a massive protest in Detroit over the water crisis there. Netroots Nation attendees gathered together with National Nurses United to make a statement about how immoral and cruel the water shutoffs to poor people are. Continue reading

LEVERAGE – Exposes Mortgage Securitization Ponzi

“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…”

Continue reading

Dubin Declares DeadlyClear “Best Commentary Foreclosure Blog of 2013”

THE FORECLOSURE HOUR AWARDS

Dubin web pic

Gary Victor Dubin’s THE FORECLOSURE HOUR announced its top 5 awards today including naming DEADLYCLEAR the Best  Foreclosure Defense Commentary Blog of 2013. Continue reading

Fannie Mae Seeks $800 Million In Libor Manipulation Suit

Justice League logo Reblogged from Justice League:

Fannie Mae is staying on the offensive against Wall Street.

Fannie Mae is reportedly suing nine banks for a total of about $800 million over alleged manipulation of the benchmark London interbank offered rate (Libor), the average interest rate estimated by leading banks in London that they would be charged if borrowing from other banks. Continue reading

$High$ Priced Attorneys Don’t Necessarily Buy Truth

crazy HomerThe GLASKI opinion has made the Wall Street banking industry crazy. There was an outcry for publication of this case as it allowed homeowners to challenge fabricated assignments. The Court agreed to publish the opinion.

The securitization case was briefed and argued as a New York law trust case when in fact it was actually a Delaware trust. While the outcome may have likely been the same, the Court’s opinion was based upon New York Trust Law. Thereafter, the banks (that it appears failed to raise these issues during or after the hearings) wanted the opinion to be de-certified for publication. Continue reading

Is the Promissory Note Even Enforceable?

Judge UnEnforceableWhen all is said and done the courts come back to the main premise, “Did you pay?”. That is so injudicious on so many levels. The deeper we get into securitization and contract law we soon realize (after dissection) there is one very basic question being ignored – “Is the Promissory Note even enforceable?”

Sheila Bair’s (former FDIC Chairperson) new book, Bull By the Horns, addresses issues that must be taken into careful consideration when considering the validity of foreclosures – and she does it with impressive candor. Sheila separates the MBS into 2 categories: Continue reading

Money Is Not Safe In The Big Banks

Under the Dodd-Frank Act “losses will be assigned to shareholders and unsecured creditors. …as a depositor in a bank, under the law –
YOU ARE an unsecured creditor.”

banker_debt_web“The Leveraged Buyout of America” by , Author, Web of Debt, Public Bank Solution; President, Public Banking Institute

Giant bank holding companies now own airports, toll roads, and ports; control power plants; and store and hoard vast quantities of commodities of all sorts.

They are systematically buying up or gaining control of the essential lifelines of the economy. How have they pulled this off, and where have they gotten the money? Continue reading