4158 Brookale Av. #A
Online ask, Real Estate Crisis or Government Sanctioned Racketeering?...sign or like the petition.
Oakland, CA 94619
Larry Summers was being considered for the Treasury position. Mr. Summers was the one who instituted the policies that permitted the banks to commit the illegal activities which eventually lead to the economic crisis. Mr. Summers has declined the position.
Janet Yellin has been selected for the Treasury. Ms. Yellin has announced that the stimulus that Bernanky started will continue. This stimulus has sent the stock markets to all time highs. Main street has still been left out. Of the fines that have been imposed on the banks, over $100 million since 2010, none of this money has gone to homeowners who were the victims of the fraud and racketeering that was allowed to be conducted by lawyers and bankers from 06-09.
It's not who runs the Fed but how they run it that counts. Banking practices have not changed.
The Federal Reserve has been sending $85 billion to the banks each month to purchase mortgage backed securities. This money is going to the same banks that were bailed out. JPMorgan has $23 trillion set aside for litigation. Wells Fargo and Bank of America have coparable sums.
The issue of "shadow banking" has not bee addressed. Wells Fargo admitted to handleing $378 billion over an 18 month period for a Mexican Cartell. Banks make money on the money that they hold, by the day. How much did Wells make on this one transaction with this one Cartell? 1000 bilion equals1 trillion. JP Morgan and the other large banks have been engaging in the same, or like, transactions. There are Cartells in every country dealing in more than drugs. Don't forget that diamonds and gold have been considered currency for centuries. Now pltinum is in the mix. There are Cartells for just about every commodity and "shadoew banksing" is being conducted to hide cash transactions.
When it was announced, on THE NEWS HOUR, that Chase had $23 billion set aside for litigation. That was amusing. The fine that they had to pay was $13 billion which would have consumed over half of what they had set aside, the banks has been assessed another $15 or 20 billion since, and there is more to come. The banks have had over a decade to set aside funds for litigation. Deregulation has been in effect since 2004.
If cities like Richmond California win eminent domain cases in court, $23 trillion may not even be enough. The City of Irvington New Jersey has decided to follow Richmond. Hopefully Compton and El Monte California will follow suit.
The banks could be let off the hook, regarding litgation, if they would release the $75 trillion that the three of them have set aside, put it into an account that would be directed to the 99%, and agree not to engage in any future activity that would put the economy in jepordy. Actually, the release of the money could be mandated along with the agreement.
The same people who own these banks were allowed by the Fed, the Justice Department, the Treasury and the Internal revenue service, to keep $35 trillion in offshore accounts according to Congressional records. These same people are using this cash to buy up the "shadow inventory" that the banks they own have created by keeping properties off the market.
Ironically $35 trillion is what it would cost to give each person in the 99% a one time grant for $100g's. The combination of the above mentioned funds that the banks have set aside and the $85 billion per month that the Fed is sending to the banks now, would be more than enough to solve all of the socioeconomic problems that this country faces, and have some change left over!
Let the rich people keep their money. They have to bring it back into the country however, in exchange for the elimination of income tax.
Henry Paulson was Secretary of the Treasury when Lehman Brothers' was filing for bankruptcy. At the same time John Paulson was CEO of a hedge fund that were betting against the sub-prime mortgages that were on Lehmans' books.
The Office of Thrift Supervision was a division of the Treasury. The OTS did not respond to complaints of fraud. The OTS facilitated the partnership, orchestrated by Paulson, between Lehman, Deutsche, HSBC, GMAC and Mortgage Electronic Registration Systems Inc. (MERS).
MERS was permitted to gain control of more the two thirds of the mortgages due for registration on county records in the U.S. These were sub-prime mortgages that became a major part of what came to be know as the "shadow" inventory.
John Paulson made $1 billion as CEO of his hedge fund because he bet against sub-prime mortgages. That bet could not have been made were it not for the partnership that was orchestrated by Henry Paulson.
Another player in this game is the person at the end of the line. Bill Erbey, owner of Ocwen Financial. Ocwen made money as a broker who handled non-performing mortgages. These mortgages were considered underwater or had rediculous terms that could not be satisfied. The underwater mortgages were those that where inflated appraisals had been made by appraisers under pressure to come back with a high value "or else." Other non-performing mortgagees came from "Pick-A-Pay" mortgages with unaffordable terms. These mortgages could not be contested in non-judicial states like California. Every Attorney General, in every state, knew what was going on. Mr. Erbey conducted business without commercial offices and in many cases no employees. Mr. Erbey made $2.3 billion with the complete knowledge of the Office of Thrift Supervision.
Nothing has been said about the poor in this country. Not by the Republicans or the Democrats. Both parties have participated in creating a new class of poor. The elderly and the disabled who have been cheated out of their property will not recover. The banks have been let off the hook.
Politicians would like for us to believe that the banks were clever enough to sneak into town and conduct business for over a decade without thier knowledge. The same thing is happening in the UK and EU real estate and banking sectors that is happening in this country.
20 cities in the U.S. are facing bankruptcy. The City of Richmond is the first to stand up and threaten to file "eminent domain" against the banks. Hopefully many other cities will follow suit. This move will reveal the true nature of the so called "real estate crisis". It all started with the collapse of Lehman and was made much worse by Paulson, Geithner, Bernanke, Brown and MERS.
In California, Fresno, Oakland, Compton, and El Monte, should follow Richmond's lead. A "Whistle-blower complaint" was filed via fax on 7/31/2013 with the Securities and Exchange Commission(SEC). A list of the banks that continued to generate mortgages illegally was provided in the complaint. The City of Richmond was also sent the information.
The American economic system is being tested. Much will be revealed by the LIBOR investigations. Lehman Brothers used Libor to decieve the bankruptcy courts in order to pay JP Morgan Chase. Chase had them on the hook and they had to ask HSBC for help. HSBC didn't want to assume all of the risk and inlisted Deutche Bank as a partner. These two assited Lehman in the use of Libor and were rewarded by being allowed to take over the sub-prime mortgages on it's books. This allowed the largest bank in the UK and the largest bank in the EU entry into the U.S. subprime market.
Lehman didn't repay Chase with cash alone, sub-prime mortgages were in the deal as well. A "shadow inventory" was created. Lehman assumed the identity of it's subsidiary, Aurora, and along with HSBC, Deutsche, and GMAC, held properties that they stole from people, off the market.
Now, the individuals and companies who have been allowed to keep $35 trillion in offshore accounts, are buying this property in cash transactions that are freezing out people in the middle class who were expecting to take advantage of the historically low interest rates.
The "quantitative easing" that the Federal Reserve has been engaged in can be traced back to the collapse of Lehman Brothers. Henry Paulson orchestrated the partnership between HSBC, Deutsche, GMAC and Lehman. The Office of Thrift Supervision, under Paulson, allowed Lehman to assume the identity of it's subsidiary Aurora. Mr. Paulson also presided over the creation of Mortgage Electronic Registration systems Inc.
Mortgage Electronic Registration Systems Inc.(MERS), Lehman Brothers (now Aurora) GMAC (now Ally Bank), Deutshe Bank, HSBC and GMAC were the perpetrators. Henry Paulson and Timothy Geithner allowed the Office of Thrift Supervision to be the facilitator who would not respond to complaints as banks that had closed commercial operations put people onto ridiculous mortgages that they could not get out of. Non-judicial states were affected the most. They were the primary targets.
California was the primary target. In California foreclosures can't be contested in court. California is the largest state in terms of population and the property values are high. Success in California would justify losing in the states where foreclosures are contested.
The first audit of foreclosures was done in California in 2011 by the Treasure for the City and County of San Francisco. The audit revealed that the majority of foreclosures from January 2009 to November of 2011 were illegal.
All of the mortgages that were generated by GMAC, Wachovia, Homecoming Financial and any of the other companies that are on the list that is found at www.thetruthaboutmortgage.com, in the archive for February 2007, should be voided. These companies continued to do business after closing commercial operations from 2006-2009. They could not be contacted by customers.
Loan servicers, in CA, Aurora Loans Services in this case, concealed the identities of the primary players. This was allowed by Mr. Paulson and Mr. Geithner's Office of Thrift Supervision, which is a division of the Treasury Department.
Governor Jerry Brown was the Attorney General in California from 2007-2011. The "Homeowner's Bill of Rights" that Mr. Brown has introduced protects him from indictment. It is the same as the bailout that Mr. Geithner gave to the banks.
The President killed a bill, that had unanamous bipartisan support, for national regulations on electronic signatures. Had this bill been enacted there would be a trail to follow which would allow mortgages to be modified and crooks to be caught. States were allowed to make their own rules and as a result, more than one entity (in many cases a dummy company) was allowed on title and the paperwork is all over the place. If it ever existed in the first place.
Lawyers, as well as the AG's in every state, knew that loans couldn't be modified because they were generated by banks that had gone out of business and the documentation was passed to other banks that were going out of business. Fees were collected from the borrower at each transfer between front companies, but none of this money was ever paid to the cities or to the county. This contributes to the shortfall that cities, counties and states face as they try to retain services.
Mortgage Electronic Registration Systems Inc. (MERS) allowed numerous companies to be on title at the county recorder's office while they held the mortgage and installed themselves, HSBC and Aurora(formerly Lehman Brothers) as the benificiary.
The banks should be assessed fines equal to the money that they have set aside for litigation if they refuse to volutarily give it up. A whole industry was originated to modify loans that could not be modified. The lawyers should be fined along with the rating agencies, regulators and the EU banks that aided U.S. banks in the use of Libor.
Mr. Paulson, Mr. Geithner, Mr. Bernanke and Mr. Brown should be indicted.
The actions of Merscorp ( MERS) in conjunction with Deutsche, HSBC, GMAC, Lehman and a lack of oversight by the Office of Thrift Supervision and the AG's offices across the country, compounded by deregulation, created a "perfect storm" for fraud nationwide.
Qualified employees are in short supply and it's getting worse. The educational system is not keeping pace with business. The highs that the markets are at now will end as soon as the shortage of qualified employees becomes critical. It will take years for the educational system to catch up.
Institute a VAT/Sales Tax. Eliminate payroll taxes on small, medium and large businesses, that create jobs in America. Elminate taxes on all forms of income from individuals and companies, including payroll tax, on individuals and companies. The VAT would cover luxury items. The sales tax would cover every thing else, including high frquency trading. Outlaw all offshore acounts for individuals and comapnies.
The argument that was being made for the health care bill is the same argument that can be made for the VAT/Sales Tax. A broader base reduces the rate. Eliminating income tax on businesses and individuals would act as a subsidy that would encourage full employment.
Give a one time grant of $100,000 to every man, woman and child living in a family with an income of less than $1 million(the 99%). This would cost the crooks $35 trillion. If you only give the money to the adults it would cost less. America would resolve most of it's socioeconomic problems. This one time grant should not result in inflation. (To inform all cynical self serving ingrates out there.)This is not a salary increase.
Those who are already rich would get richer. Jails could be turned into schools. The positive energy and creativity that would be released would be staggering! Let the politicians go on vacation for 6 months. When they return, the country will have solved all of the problems without their interferanc.
The "fat cat bankers" are making more money than they ever were before. The Office of Thrift Supervision, now the Office of the Comptroller of the Currency, has allowed 500 banks that had stopped commercial operations from 2006-2009 to write mortgages. Mortgages can't be modified because these banks could not be contacted by customers. The securities that these mortgages were turned into were found to be defective because of the fraud that was committed. These same banks are being allowed to foreclose and they are on the Foreclosure Review Panel along with the Servicers that originated the problem in the first place.These are the same people who own MERS. The same people who have been allowed to keep $35 trillion in offshore accounts. This is a violation of the Fair Trade Act.
These banks used dummy companies as lenders on the county records. Banks like GMAC, Wachovia and World Savings used mortgage brokers like BrokerSource and MortgageIt, their subsidiaries, to front as lenders while they were on title using other dummy companies to collect transfer fees and servicing fees.
The servicing of the loan was done by companies like Aurora, formerly Lehman Brothers, who changed the terms of the loans and concealed who the true lender was. In 2006 default clauses and higher interest rates were put on these loans after the original documents had been signed. "PICK-A-PAY" loans were introduced and put into the documentation after the loan was transferred to the dummy company. The servicing company knew that the customer couldn't complain.
On 12/19/2011 the Justice Department came on public TV and said that they had been investigating bank fraud since 2008. They never told the State's Attorney Generals about this investigation apparently, because people were being referred to the OTS as late as 6/2011 by California's present Attorney General. On 1/22/2013 the Justice Department told NIGHTLINE that they had never been told about real estate fraud from "whistle-blowers" in the industry.
On 10/06/2011 President Obama said in his speech that "what the banks did was not illegal, just reckless." What the banks did is the same thing that was done by the savings and loan companies and ENRON. The President, the Senate and the Congress as well as all of the States Attorney's Generals refered complaints to the Office of Thrift Supervision. The Office of Thrift Supervision along with Fannie Mae and Freddie Mac, allowed 500 banks to continue to write mortgages even though they had closed commercial offices and could not be contacted by consumers.
The Office of Thrift Supervision, who was funded by the banks, took no action. All of these entities enjoy immunity from prosecution, this is why the President could truthfully say that what the banks did was not illegal. If it was illegal, he would have to go to jail for violating the RECO Act...www.ricoact.com/ricoact/nutshell.asp.
The banks have stolen $1 million from each American family since 2006, and have been bailed out with taxpayer money. Homeowners who have lost their homes have been offered $125,000 to walk away. Most of these people will get a fraction of that amount. This is insulting!Give people the deeds to the property plus the money.
The New York courts and Judge Robert Grossman, have determined that there are 67 million illegal transactions in the system that were generated by Mortgage Electronic Registration Systems Inc.(MERS), HSBC and the gang. MERS is a privately owned company that has been allowed to control the registration of 2/3 of the loans on county records in the U.S. The issue here is that according to the census there are only 75 million mortgages on the books in the U.S. This means that a lot of mortgages were generated for properties that don't exist. That's where the robo-signing comes in. This is also how the "shadow inventory" came about.
The purpose of this site is to explain how this GOVERNMENT SANCTIONED RACKETEERING was done and why. The information contained at this site has been sent to the President, the Justice Department, the Senate and the Congress.
No lawyer would present this in court. Even if they would or could, in California the law would not support a case, this is what make the eminent domain cases so relevant.
Jerry Brown was California's Secretary of State. Mr. Brown was also Mayor of Oakland, the seventh largest city in California,(which had one in seven homes in default or foreclosure when he left). Mr. Brown was Attorney General from 2007-2011, banks were engaged in the most intense racketeering activity in American history from 2006-2009 in California.
Governor, Mr. Brown along with the present Attorney General, Kamala Harris, have come up with a "HOMEOWNERS BILL OF RIGHTS". This bill was not put before voters. This bill is the same as the bailout that Mr. Geithner gave to the banks, it protects Mr. Brown and the banks from future litigation.
The majority of the people who were affected by unlawfull forclosures were elderly and minorities. Mr. Brown, Mr. Geithner and Mr. Paulson know that these people can't afford to retain legal council. They also know that the statute of limitations will run out.
In Japan the stmulus makes provisions for the elderly, unemployed, underemployed and the disabled. Why can't this be done in America?
The objective of the bank bailout and the "HOMEOWNERS BILL OF RIGHTS" is to keep the banks from having to go to court. They also keep Mr. Paulson, Mr. Geithner and Mr. Brown from having to explain to the Judge how all of these banks could continue to operate without opening commercial offices and how is it that these same banks are allowed to foreclose on transactions that were originated illegally? The people should get the deeds.
This is GOVERNMENT SANCTIONED RACKETEERING!
The objective is to give the common man a voice. Even though there is email, FaceBook and Twitter there is still a disconnect between our elected officials and the man on the street.
We must restore logical and coherent communication that can be analyzed and verified.
Occupy Movements and Community Orginaizers must target the media. Picket signs are now carried on Facebook, LinkedIn, Twitter and Skipe. Let's get on it and expose these people!
Fnd this on Facebook.
Sign or like the Care2 petitions found online. The first is entitled, GOVERNMENT SANCTIONED RACKETEERING. The second is entitled, GIVE THE PEOPLE THE MONEY!
100,000 signatures or likes on either petition will require a response from the Securities and Exchange Commission.
4158 Brookale Av. #A
Online ask, Real Estate Crisis or Government Sanctioned Racketeering?...sign or like the petition.
Oakland, CA 94619