BREAKING: SOURCES SAY BANK FIGHTER JAILED TODAY

Posted on June 23, 2014 by eggsistense

Foreclosure fighter Karen Rozier is apparently now in custody. In a Facebook status update, sources close to Rozier say her husband said the following:

“Emergency 20 officers taking down Karen M. Rozier her husband just called they are locking her up.”

Like Mary McCulley, another fighter against US Bank, Rozier has been deemed a “threat to society” with bail set at $50,000 and a temporary restraining order filed against her. This information is subject to correction as more details arrive.

Earlier in the day, Facebook statuses from others close to the situation indicated the following:

“UPdate. ALERT on Karen Rozier : Hearing tomorrow, Tuesday at 1:30 pm
Dept. 30 , judge Korn. Judge wants her to put up $50,000 to stay out of jail on a contempt hearing.”

Sources say Rozier went to court today expecting to have one hearing today and one tomorrow but that her hearing for tomorrow was moved to today, forcing pro se litigant Rozier to deal with two hearings in one day, on the fly.

UPDATE 1–from Maegan Donovan Nikolic:

“I just spoke with David her husband he is pissed paniced and confused. 20 officers a couple took her to ground put her face into floor knees in her back and as she was yelling they were abusing her theymade her husband and son leave court room david said he was outside and could hear her screaming in pain but couldnt go in the ambulance showed up and took her out locked to the chair chair must be used due to elevator they refused to say where they are taking her“

Read more about Rozier’s situation here:

https://libertyroadmedia.wordpress.com/2013/04/15/judge-orders-guns-taken-from-woman-fighting-foreclosure/

https://libertyroadmedia.wordpress.com/2014/01/14/fight-banks-go-to-jail/

Posted in civil rights, Debt Slavery, Foreclosure fraud, Police State, US Bank | Tagged foreclosure fraud, jail, karen rozier, us bank | 2 Comments

AMERICAN EXCEPTIONALISM–EXCEPTIONALLY TOLERANT OF FRAUD

Posted on June 23, 2014 by eggsistense

So this story appeared in my Facebook feed this morning–“Another Banker Dead: IRAN Executes Rothschild Billionaire On $2.6 Billion Bank Fraud ~ Used Fraudulent Funds To Implement Agenda 21 In Buying State Property.” So I check it out with a bit of skepticism, and sure enough (although it turns out that he wasn’t a banker–although apparently he wanted to start one), he was at the center of the largest bank fraud in Iran’s history and for that he was hanged! The Independent tells us:

“A billionaire businessman that was responsible for the biggest bank fraud Iran has ever seen has been executed, Iranian state media has said. Mahafarid Amir-Khosravi, also known as Mansour Aria, was hanged at Tehran’s Evin prison on Saturday after being convicted of a scam that was said to have cost Iranian banks nearly £1.5 bn.”

The amount of the fraud is even bigger when expressed in American funny money: $2.6 billion.

America exceptionally tolerant of fraud, unlike say–Vietnam and Iceland (and Iran, of course)

We need only look to the case of one Bernie Madoff to see that America is exceptional, all right–exceptionally tolerant of fraud. The Iranian dude’s scam only cost $2.6 billion and he got executed–hanged by the neck until dead. Madoff’s fraud cost his victims a lot more than that; most people agree on a figure somewhere between $10-$20 billion. Unlike the Iranian dude, though, Madoff is very much alive and well.

Vietnam executes bankers for less than what Madoff did, as pointed out here:

“In the past five months, at least three Vietnamese bankers have been sentenced to death — though their crimes amount to just 1 percent of Madoff’s haul.

Last month, a 57-year-old director of a Vietnam Development Bank was sentenced to death after he and 12 others approved counterfeit loans in the amount of $89 million. For inking those contracts, he got a BMW, a diamond ring, and $5.5 million in kickbacks. His death sentence follows similar punishments meted out to two other bankers: One was sent to death row in November for his part in a $25 million scam, and the other, banker Duong Chi Dung, got his in December.”

And don’t forget Iceland, who also let banks fail and sent bankers to jail, not to the trough of bailout money:

“An Icelandic court has sentenced four former Kaupthing bankers to jail for market abuses related to a large stake taken in the bank by a Qatari sheikh just before it went under in late 2008.”

America would never do any of that! To the bankers and the financiers and the middlemen, that is. To you and me, they’ll do it all day long. American exceptionalism–doesn’t it just make your heart soar with pride?

We tolerate price-gouging as well!

In a tangentially-related development, notice that America is the exception to the rule of developed countries providing high-quality care to its citizens at a low cost, as indicated here:

“The United States health care system is the most expensive in the world, but this report and prior editions consistently show the U.S. underperforms relative to other countries on most dimensions of performance.“

Maybe this isn’t so tangentially-related, perhaps this healthcare price-gouging is directly related to other financial fraud. Pretty much has to be, doesn’t it?

Against the death penalty?
One last bit–I’m against the death penalty. I don’t believe the state should be allowed to kill anyone. Simply pointing out that other countries are much less tolerant of fraud than we are. In fact, in our great country, people who try to–and do, a la Mary McCulley–expose fraud, the government puts them in jail doing hard time. See, for example: “MARY MCCULLEY IS A THREAT TO FRAUD, NOT TO BANKS OR THE PUBLIC.”
McCulley Prison Meme copy corrected

Posted in Conspiracy, Crap-italism, Everything Is Rigged, Feudalism, Financial Terrorism, Iran, Mary McCulley, Paper terrorism, Police State, Price-fixing, Redistribution, Securities, Wealth transfer | Tagged bank fraud, BBC, Bernie Madoff, death penalty, execution, fraud, healthcare, Iran, Mansour Aria, Mary McCulley, price-gouging, The Independent, Vietnam | Leave a comment

PT. 2: NO ENDORSEMENT, NO NEGOTIATION–NO NEGOTIATION, NO SECURITIZATION

Posted on June 20, 2014 by eggsistense

Revisiting a great Neil Garfield article today on the subject of “ta-da” endorsements and the Wells Fargo manual (posted an excerpt of this article in my last post, which got me to reading over it again). He had this to say:

According to a report from The Real Deal (New York Real Estate News), these are frequently referred to as “ta-da endorsements” a reference from magic acts where rabbits are pulled from the hat.

Such endorsements and other fabricated documents have been taken at face value by many judges across the country, despite vigorous protests from homeowners who were complaining about everything from “they didn’t have the documents before, so where did they get them?” to luring homeowners into false modifications that were designed to trap homeowners into foreclosure.

After 7 years of my reporting on the fact that the documents do not exist, including a report from Katherine Anne Porter at what was then the University of Iowa that the documents were intentionally destroyed and “lost” it has finally dawned on regulators and law enforcement that something is wrong. They could have done the same thing that I did. I had inquiries from hundreds (back then, now thousands) of homeowners looking for help.

Frankly, I think this is the biggest story there is. Perhaps the problem is that so few people know what an endorsement is. I once tried to explain my theories on Michele Sjolander and robo-stamped endorsements to a reporter for a nationally-known news program, and it was clear by the end that this reporter had no idea what I was talking about. Not only was there no story, I never heard from the reporter again.

But again, if these promissory notes aren’t endorsed–they can’t have been securitized. That’s the law, not my opinion (athough I am not an attorney and not giving legal advice, I think I can say what the law is, as in–it’s against the law to commit premeditated murder). As the title of this post points out, you can’t have securitization without negotiation, and you can’t have negotiation without endorsement. And since there were no endorsements on the vast majority of these notes (see earlier post: “No Endorsement, No Negotiation–No Negotiation, No Securitization”) and I believe that the endorsements that are present are “ta-da” endorsements–that is, fake and otherwise legally ineffective–that means that securitization is imaginary. That is, there are no “mortgage-backed” securities (MBS). There is only the illusion of “mortgage-backed” securities.

Everything is rigged

That’s why this lack of endorsement is the biggest story going–all of this has been fake. The MBS, the foreclosures, the bailout, the foaming of the runway, the QE, the ZIRP–all of it. Based on lies and faking. It is becoming crystal clear that if disgustedly saying “Everything is rigged” is an exaggeration, it is a very minor one (like saying “My back is killing me” when in reality it is not actually ending your life but it is merely a source of excruciating, debilitating pain). Sure, a couple things here and there aren’t rigged–you really are overweight and your grandma really does love you. But everything else? Rigged.

Motion in Limine

I mentioned my motion in limine in the previous post that caused Bank of America/Fannie Mae to produce a “ta-da” endorsement in my foreclosure fraud lawsuit against those parties. Thought some people might want to read the text of it, so here it is:

The Defendants have consistently refused the Plaintiffs’ request that the Defendants produce the Plaintiffs’ original promissory note (“Note” or “subject Note”) along with any and all allonges pertaining thereto. The subject Note that has been relied on by the Defendants throughout the instant case– and has been sworn to be a “true and correct copy” of said Note–bears no indorsement, either in blank, or to or from any specified party. Said Note also has no allonge, either indorsed or un-indorsed attached to it.

The Plaintiffs know, and the Defendants are undoubtedly aware, that this lack of indorsement and lack of allonge presents an insurmountable problem for the Defendants to the extent that any or all of the Defendants claim to be any of the following: a) the “Note Holder” as defined in the subject Note; b) the owner or holder of the subject Note; c) the investor of or in the subject Note; d) the creditor of the Plaintiffs; or e) a party with rights to enforce said Note or collect any payments due under the terms of said Note.

The Plaintiffs believe that, to try to overcome this insurmountable problem, part of the Defendants’ strategy is to attempt to produce at trial one or more of the following: a) the actual original Note with an indorsement and/or an allonge (with or without indorsement); b) a copy of the original Note with an indorsement and/or an allonge (with or without indorsement); or c) a copy that will be purported to be the original Note with an indorsement and/or an allonge (with or without indorsement). The Plaintiffs respectfully request that the Court preclude the Defendants–whether separately or as a group–from presenting any of the above-mentioned Notes and/or allonges as evidence at trial as the Defendants have already presented a Note with neither an indorsement nor an allonge as a “true and correct copy” of said Note per the sworn affidavits of Barkley Sutton of Fannie Mae, and Mindy Scheller of BAC (Docket No. 76).

Respectfully submitted this, the ______ day of July, 2011.

This, boys and girls, is how you get a “ta-da” endorsement to show up real quick-like, which is exactly what happened. After this little bombshell, the trial was postponed, and a summary judgment hearing was scheduled. I was told by an attorney friend that a summary judgment hearing was unheard of in my district. The first words out of the bank attorney’s mouth at said hearing? “Your honor, I have done a poor job of presenting the facts in this case…” And I still lost! That’s how you know they’re in on it…

IMPORTANT NOTE/DISCLAIMER: The above article is not legal advice and was not written by an attorney. It is merely a collection of common-sense, rational observations written by a sane, rational layperson with common sense. It is recommended that you consult with an attorney for any and all legal advice and/or action.

Posted in Bank of America, Conspiracy, Crap-italism, Debt Slavery, Everything Is Rigged, Fannie Mae, Financial Terrorism, Foreclosure fraud, Kangaroo court, Living Lies, MERS, Paper terrorism, QE unlimited, Securitization Fail, Wells Fargo | Tagged allonge, bailout, Bank of America, Barkley Sutton, Everything Is Rigged, Fannie Mae, Living Lies, MBS, Mindy Scheller, motion in limine, Neil Garfield, promissory note, QE, ta-da endorsement, Wells Fargo, ZIRP | 3 Comments

NO ENDORSEMENT, NO NEGOTIATION–NO NEGOTIATION, NO SECURITIZATION

Posted on June 20, 2014 by eggsistense

Incredible story making the rounds the last few days about a rather high percentage of unendorsed notes being offered by the Bank of New York in foreclosure/bankruptcy cases. As high as 79%. That’s more than three quarters of the notes unendorsed, y’all! From the Housing Justice Foundation study:

There is a very clear picture of what was supposed to happen whenever a trust wanted to foreclose on a loan in the trust: the servicer was to file a form, and the trustee was to deliver the endorsed note to the servicer to use in the foreclosure. This is what actually happened: in nearly 80% of the cases, Bank of New York used unendorsed notes, and an unsupported allegation that it had the right to foreclose for mortgage-backed trusts.

My personal belief is that the big banks did not endorse notes as a matter of course. The only time notes were “endorsed” was for litigation. Linda DeMartini of Countrywide testified to exactly that in Kemp v. Countrywide. Abigail Field wrote about a survey of Countrywide notes used in foreclosure cases in which the vast majority of the sample–104 of 130–were not endorsed. The 2011 OCC Consent Order with Bank of America acknowledged that Bank of America did not always make sure that notes were “properly endorsed.” Links to all of these stories can be found here: “Bank of America’s Magic Wand.” Note: For more on why endorsements of promissory notes are so important, see this. And this.

Not just BONY or Countrywide–also Wells Fargo

And one can rest assured that if one bank–in this case, BoA/Countrywide–was actively not endorsing notes, they were all doing the same thing. Indeed, news has surfaced that Wells Fargo has/had a manual which explains how to fix problems with promissory notes that come up in litigation, including notes without endorsements. Here’s an excerpt from one of the first stories that I became aware of about the Wells Fargo manual:

“In a filing in New York’s Southern District in White Plains for a local homeowner in bankruptcy, attorney Linda Tirelli described a 150-page Wells Fargo Foreclosure Attorney Procedures Manual created November 9, 2011 and updated February 24, 2012. According to court papers, the Manual details ‘a procedure for processing [mortgage] notes without endorsements and obtaining endorsements and allonges.’”

So unendorsed notes are very much a big issue.

A personal anecdote about endorsements

What I may never have mentioned is this: throughout my entire foreclosure defense lawsuit against Bank of America, Fannie Mae, MERS, and Recontrust, the defendants relied on an unendorsed note. Every time they submitted a note along with a motion, it was an unendorsed note. They even produced two affidavits that the unendorsed version of the note was “true and correct” and attached those to their motion for summary judgment.

In my reply to that motion, I pointed out that the note was unendorsed. I had been hoping that they would attempt to get a summary judgment on an unendorsed note, and sure enough, that’s exactly what they did. In my mind, that was all the proof any judge would need to rule that Fannie Mae could not be the owner or holder of the promissory note I had signed with Countrywide.

After all, every judge and every attorney knows that negotiation is only valid after fulfilling both of two requirements: 1) endorsement and 2) transfer. That is to say, Fannie Mae can only become the owner/holder of my note if Countrywide had endorsed and transferred it to Fannie Mae. And according to their own affidavits, they hadn’t done the endorsing, because they said the unendorsed note was “true and correct.”

Well, the judge didn’t rule on the summary judgment right away. He didn’t rule on it for a month. Or two. We got up until roughly two weeks before the trial was scheduled and the judge still had not ruled on the summary judgment. I’m told this is pretty unusual, but I don’t know that for sure. Whatever.

At no time between Bank of America’a summary judgment and the impending trial was any endorsed note presented to the court. It wasn’t until I made a motion in limine asking the judge to keep any endorsed note, or copy of same, or any note purported to be endorsed, or any “original” note with endorsement, etc. out of the trial that I finally got their attention. In the motion, I argued that, having made their bed with an unendorsed note for the entire length of the lawsuit (which had gone on roughly 2 years by that point), they should now be forced to lie (pun intended) in that bed at trial. I stated that I knew that both the bank attorneys and the judge knew that an unendorsed note was fatal to Bank of America/Fannie Mae’s case. I told them that I knew that, too.

So what was their response? To produce an endorsed note, of course! Ta-da!

Sjolander strikes again

The ta-da endorsement they produced bore the names of Michele Sjolander and Laurie Meder, both mentioned in this Housing Justice Foundation story. As mentioned before in these pages, I deposed Sjolander in 2012. The deposition can be found here: “Robo-Stamped: Full Deposition of Michele Sjolander Executive Vice President of Countrywide Home Loans.” Sjolander testified to the following:

a) she never performs the endorsements (even though her name is used on them),

b) she does not know the names of the people who performed the endorsements,

c) she is generally not present when the endorsements are supposedly done, and

d) she cannot say with any certainty when the endorsements were placed on the notes.

Long story short, Sjolander has no personal knowledge of these endorsements. It is my belief and opinion that, as Linda DeMartini said (as mentioned above), my note was never endorsed and that an endorsement was placed on a copy of my note only because I made such a big stink about it. And that copy with a brand new endorsement–that had never been there previously–was passed off to the court as an original document that had been produced 4 years earlier in the normal course of business. Even if that were the case (which of course it isn’t), Sjolander didn’t/doesn’t have the requisite personal knowledge to testify to the provenance of the endorsement. So what happened, you may be wondering? I lost, of course. The judge bought their story and took the ta-da endorsement to be true. That of course begs the question: “Judges–dupes or in on it?” Hint: they can’t be dupes…you gotta be pretty smart to be a judge, right?

The endorsements they did find in this study are likely fake

This leads me to believe that the 21% of notes in the Housing Justice Foundation’s study that did have endorsements had fake endorsements. That is, they were probably produced like the ta-da endorsement that magically appeared in my case or using the methods described in the Wells Fargo manual. In other words, it is my opinion–based on all of the above–that the endorsements the Housing Justice Foundation did find were made up out of whole cloth because of some pesky pro se litigant or foreclosure defense attorney who just wouldn’t shut up about the endorsements.

The implications are huge

The implications of this non-endorsement of promissory notes are mind-blowing. The securitization that was supposed to have taken place–i.e., the selling of these promissory notes to trusts/pools/tranches to make up “mortgage-backed” securities (MBS)–is completely non-existent and fictional since the majority of the notes were not endorsed (and the ones that are endorsed are likely to be fakes). This is because securitization requires negotiation. And negotiation requires endorsement. And lack of endorsement and securitization means that the foreclosures using these methods shouldn’t be happening. And it is becoming ever clearer, with stories like this one, and the Wells Fargo manual, that banks did not endorse the notes. And I believe that the ones that are endorsed are fakes.

And now that I think about it, maybe that was the point all along: the notes weren’t endorsed and therefore weren’t negotiated or securitized. But there was a pretense that there was securitization to get money in two ways: 1) investors would buy certificates that were empty paper bags like the one pictured above and that gave the banks money, and 2) when it inevitably came to light, the banks knew they’d be “bailed out” and given QE–and make even more money.

But that’s probably just a conspiracy theory…just like the conspiracy theory that banks don’t always endorse and transfer notes…oh wait, that one is quickly becoming conspiracy fact.

Posted in Bank of America, Debt, Everything Is Rigged, Fannie Mae, fiat currency, Foreclosure, Foreclosure fraud, Living Lies, MERS, QE unlimited, Redistribution, Securitization Fail, Wells Fargo | Tagged Abigail Field, bailout, Bank of America, Bank of New York, Countrywide, endorsement, Kemp v. Countrywide, Laurie Meder, Linda DeMartini, Linda Tirelli, Michele Sjolander, motion in limine, QE, robo-stamped, ta-da endorsement, THe Housing Justice Foundation, Wells Fargo | 5 Comments

NO, IT’S NOT YOUR IMAGINATION: YOUR REAL WAGES ARE GOING DOWN

Posted on June 17, 2014 by eggsistense

You know that cold dread that drops into the pit of your stomach when you check your balance and see that you’re down to your last few dollars and payday is still a week away? Too much month at the end of the money? Of course you do–we all do.

And what thoughts go through your head when this happens? “I gotta get more hours,” or “I gotta buy the off-brand peanut butter from now on,” or “I am a worthless piece of shit that can’t provide for myself/my family.” In short, you think there’s something wrong with you–something you’re not doing right. That you’re some kind of profligate money-waster even though you’re wearing secondhand clothes sitting on a Goodwill couch in your rented house in the questionable neighborhood with your near-decade-old used car in the driveway–so you gotta cut back.

You must deny yourself–that trip to the movies, that shirt that’s on sale but you don’t really need, the creamy Jif (which although the generic brands taste more or less the same, they just don’t have the same…creaminess), etc. You’re working, sure–two jobs. It was the best you could do after the layoffs. You’re working longer and don’t make anywhere near what you were making before, but hey–at least you’re working. Still though, your credit score is trashed and you had to cut up the cards a while back.

But then you realize–it doesn’t matter that you’re working. You know the cultural imperative: you must impose austerity upon yourself. The money just ain’t there.

It’s not you

But you should know that it really isn’t you. It isn’t something you’re doing wrong that makes your wages vaporize quicker than a banker will run to the government for a bailout. From Zero Hedge:

…as reported moments ago by the BLS, real average hourly earnings just posted their third sequential decline in a row, dropping from $10.33 in February, to $10.32 in March, to $10.30 in April, to $10.28 in May.

The article also correctly states that:

…nominal wages are meaningless in a world in which food and energy prices are soaring, and where, as even the BLS admitted earlier, food prices have surged the most since 2011. In other words, what matters are real, not nominal wages.

Real wages are, of course, the actual buying power of one’s wage, i.e., the inflation-adjusted wage number. The nominal wage, of course, is the number your employer tells you you’re making. And that number is meaningless–if you make $100/day but a loaf of bread costs $200, you’re not making that much money.

The Zero Hedge article makes one other salient point:

And to put today’s $10.28 real average hourly earnings number in context, this is the same real wage seen last in July 2013, July 2012, March 2011 and then, if one goes further back… the month after Lehman failed!

Which, as you’ll recall, was in 2008–6 years ago. But wait, here’s the punchline:

In other words, while the S&P has nearly tripled since its lows real American wages are…. unchanged.

That is to say, the S & P 500 hit a low of 683.38 in 2009 (after a steady tumble throughout 2008) and is now at 1924.97–the almost-tripling referred to above. Meanwhile the real purchasing power of your wages is back to 2008 levels. Here’s the chart from StockCharts.com:

From Free Chart section of StockChart.com; used without permission

Consolation is good, action is better

Hopefully this information comes as some kind of consolation. But hopefully it is also infuriating enough to inspire action. What kind of action? Not sure, to be honest with you. Could start by educating others, conveying this information to them–that hard work and constant hours spent on the job are not the answer to their personal economic problems or the economic problems of the country as a whole. That’s something we can all do. Stop buying the bullshit. Stop believing that we must impose austerity on ourselves while our “betters” buy up everything that doesn’t have our name on it and then steal the rest through fraud. And then tell us it’s our fault that we don’t have anything and that if we only weren’t so lazy, unproductive, and unskilled, the world would be our oyster.

Yeah, undoing each other’s mind control would be a great start. Realizing that we have to stop chasing the carrot because the carrot has turned into the stick. We have to remember what’s really important–family, friends, health, freedom. All of these ideas were spelled out very well by “joe2” in the comments section of an article I read recently (presented in its entirety):

I’m not. I lost that obsession and drive to become “wealthy” back in 2000. First, Greenspan crashed the economy. I warned my co-workers he was going to crash it, took out my 401k money, and they all ridiculed my and said I was crazy. Six months later they lost over half of their retirement accounts. I lost nothing – at the time.

So I buy a home in Atlanta, where I worked. Mistake. But you know, the wife wants a house. I made $84k a year at the time working for a major telecom equipment company. I lived like a king. I never had to worry about not paying a bill or not having a pile of cash in the bank. My wife did not work. 6 months after I bought the house the whole house of cards came tumbling down.

Then, on the eighth and final round of layoffs, my group got the axe. By the time it was said and done, 50,000 people in that company lost their jobs. Stock went from $90 share to $4. Ok, I thought, I’ve been through two layoffs, and found work within 3 months. I’ll pull through this. Nope. Two months later the government pulls 9/11. My fate was sealed. Things have never been the same. It took me 5 years to begin to recover. I could not find work anywhere doing anything. If you had a degree then nobody would hire you. They thought you’d leave as soon a good tech job opened.

So I lied about my whole resume and work experience, and then immediately got offered a job. Instead, I worked at the University for a pittance, but got my tuition paid for, insurance, and got a M.Sc. degree. That allowed me to get back into real work. But it took me several years to get back to $84k/year. Now I’m at 96k, but that money goes half as far as it did in 2000. I was upper middle class. Now I’m what they’d call middle class, but not really, as it’s been redefined in my opinion.

I should be living quite well, but I am not. That money, with a family, now goes nowhere. Sounds like a lot to a lot of people, but it is NOT. The cost of living is so high now that I live half as good as I did, and basically live paycheck to paycheck. I don’t have a 4000 sq. ft. house like I did before. I don’t have a $50k 3000GT twin turbo and a Toyota Sequoia in my driveway like I did before. I don’t have the expensive hobbies I had before. I don’t have money stashed in the bank. Taxes and inflation have turned my $96k into the equivalent of about $30k back in 2000 and that is not an exaggeration.

Now, they are ready to implode it all again, after already imploding it in 2008. Each time gets a little closer. Now it is 2014, six years since the last engineered crash, and it appears overdue and inevitable. I predicted the crash in 2000, 2008, and now I’m telling you it is time again. So I don’t put much effort into achieving wealth because it just simply cannot be attained legally for the average American. The dream is dead.

I’ve learned health, family, love, kindness, and the free things in life are what it is important and brings happiness. Striving in the rat-race to become “rich” will not bring satisfaction or happiness and it is no longer attainable. I fully expect to be right back to where I was in 2000 again.

But this time, it won’t be over 1,000,000 like it was in my industry who lost it all, it’s going to be far worse. It’s going to be the majority of the population, and when that happens, and after people have rebuilt their lives over and over at the hands of TPTB and the bankers, we will have had enough. Chaos is about to reign supreme.

What? Now I’ll have to finish my Ph.D. so I can find a job when they engineer this coming collapse? Will my pay go down to $60k after that with inflation eating up another 40% of my buying power? Yep, that’s exactly what I expect to happen. So I’m not wasting my time in the rat-race trying to keep up with the Jones’ next door. There is no point in trying to attain wealth as they are not going to allow it unless you are inside their clique or serve them in some way.

There is a great divide, and great disparity in the rich and the average American and that gap gets wider every day. Don’t expect to do anything but “get by” and don’t expect to be able to do that in the coming several years. In fact, I’d expect martial law, chaos, and blood in the streets. As Gerald Celente says, “when people have nothing left to lose, they lose it,” and TPTB thinks they can just keep screwing hard-working people and draining off their wealth with no consequences.

The consequences are coming and they’ve over-played their hand. They have no idea what they are up against when they piss off this nation full of gun toting and angry people. It’s baffling that they think they can take us on, but they damn well are preparing to do just that. Mark my words. Try to enjoy the free things in life, what is left, and look to the important things in life, and stop chasing money and the “dream”. The dream is just that, it is just a dream and cannot be attained now, if it ever could be anyway.

Posted in Crap-italism, Debt, Debt Slavery, Everything Is Rigged, Federal Reserve, Feudalism, fiat currency, Financial Terrorism, Paper terrorism, Price, Price-fixing, Redistribution, stock market, Wage slavery, Wages | Tagged bailout, BLS, Bureau of Labor Statistics, debt slavery, Everything Is Rigged, fascism, Federal Reserve, fiat currency, fraud, Goodwill, inflation, Jif, joe2, nominal wages, Prison Planet, real wages, S&P 500, StockCharts.com, Zero Hedge | 1 Comment

FIGHT BANKS, GO TO JAIL–OR BE KILLED?

Posted on June 12, 2014 by eggsistense

So let’s see…Mary McCulley fights US Bank–wins $6 million–but goes to jail on dubious charges. Other bank fighters are facing the same possible fate, as previously mentioned in a story from almost exactly 6 months ago:

“LOS ANGELES, Calif. – Jan. 13, 2014 – Is it just a coincidence Harvard University alumni Karen Rozier, and her unlicensed Cal-Poly Pomona degreed architect husband and Eagle Scout David Rozier, Sr., now find themselves wrongfully convicted of being ‘uneducated’ and ‘unqualified’ and facing jail—while fighting two of the biggest banks in the United States? Or do Bank of America and US Bank (U.S. Bankcorp, N.A.) have way too much influence to shut down wronged homeowners in this “Too big to fail” banking climate?”

But now they’re killing people who fight back–again, US Bank:

CENTRAL POINT — Two Jackson County deputies were serving an eviction order on an Ashland man Tuesday when he came out of his bedroom pointing a shotgun at them, and they shot and killed him, the sheriff said Wednesday.

Sheriff Mike Winters told reporters at a Wednesday news conference that both deputies fired a total of four times and 73-year-old Earl Carlson Harris was hit at least twice. He was pronounced dead on the scene.

……….

The Mail Tribune reported Harris had waged a lengthy foreclosure court battle and was ordered in May to be removed by sheriff’s deputies. He had posted his property with “No Trespassing” signs specifically warning police to keep out. Court documents showed Harris represented himself in a 2012 federal lawsuit challenging the eviction, arguing the judge was biased and the state had no jurisdiction.

The story also notes that the now-dead homeowner–Mr. Harris–flew an American flag upside down which the writer says was “apparently signaling anti-government views.” In fact, an upside-down flag is a distress signal, when there is an extreme threat to life and property:

“§ 8(a)The flag should never be displayed with the union down, except as a signal of dire distress in instances of extreme danger to life or property.”

So given the outcome of this situation, with the homeowner being shot at 4 times (hit twice) and being outnumbered (story indicates that “four SWAT team members were serving the eviction order, and a total of seven to 10 deputies were on scene”–so at least 11, possibly 14 police to the one homeowner) and facing superior firepower, his upside-down flag was entirely appropriate as he was in fact facing extreme danger to his life and his property.

Well, that’s certainly one way to make sure you can take somebody’s house, right? Just off them. Just send a bunch of cops out to someone’s house, and you know, just fuckin’–take ’em out. Light ’em up. Worked in Fallujah! No reason it won’t work in Oregon. Or any other state. Or any other house. Like for instance–your state. Your house.

Yep, they’ll just come right on in your house–your castle–come right into your bedroom (as this story says) and if you so much as point a gun at armed men who are trained to deal with such situations–they’ll just execute you. It’s the American way!

Jesus Christ, what are we to do…the financial terrorism is becoming physical terrorism…

Rest in peace, Mr. Harris…rest in peace, right to life, liberty, and property (unless you’re a bank)…

Posted in Bank of America, Crap-italism, Debt Slavery, Everything Is Rigged, Feudalism, Foreclosure, Foreclosure fraud, Mary McCulley, Police State, US Bank | Tagged Earl Harris, eviction, foreclosure, foreclosure fraud, karen rozier, Mary McCulley, Oregon, SWAT, upside down flag, us bank | 9 Comments

MARY MCCULLEY UPDATE: HIGH-SECURITY PRISON IN WEST VIRGINIA

Posted on June 9, 2014 by eggsistense

Mary McCulley has a new “home” (to replace the one she was defrauded out of, how sweet)–a high-security federal penitentiary in West Virginia. Wikipedia’s description:

The United States Penitentiary, Hazelton (USP Hazelton) is a high-security United States federal prison for male inmates in West Virginia. It is operated by the Federal Bureau of Prisons, a division of the United States Department of Justice. The facility has a satellite prison camp for minimum-security male offenders, as well as a Secure Female Facility that houses female inmates. A new medium-security facility is under construction at the site, which will have a capacity of 1,152 male inmates when completed.

The facility is located in the mountains of Preston County, West Virginia, in the community of Bruceton Mills, and is approximately 35 minutes from Morgantown, WV, 45 minutes from Uniontown, PA, and 45 minutes from Cumberland, MD.

So this is what you get after proving that a bank commits fraud against you and you win a $6 million judgment. She is in this prison because supposedly she is a threat to society. This is completely absurd, as pointed out in “Banks Are A Threat To Society, Not Mary McCulley“:

Ultimately, this sentence is not about McCulley, even though she surely is the one who will have to do the time. This sentence is about sending a warning to all of us: don’t challenge the banks, because they are terrified that we will beat them like McCulley did. And that is what they don’t want. They don’t want their fraud system challenged. They want you to just lay down and accept it.

Mary McCulley didn’t, and she is now paying the price. But they can’t put us all in jail. Which is where they want us, because it is the banks who are the real threat to society and to public safety. It is the banks, not the Mary McCulleys of the world, who brought the world into financial ruin and have driven millions into homelessness, poverty, bankruptcy, and suicide.

It’s completely backward: the non-threat to society is put in jail while the actual threat to society goes free. Timothy Racicot, the Assistant U.S. Attorney said she needs to “respect the law.” Oh, like US Bank “respects the law?” This is madness…

However, as pointed out here, the only thing McCulley is a threat to is fraud (“Mary McCulley Is A Threat To Fraud, Not To Banks Or The Public“):

Simply put, she [McCulley] is a threat. Not to the public, not at all. Not even close. She certainly isn’t a threat to banks. No, the only thing she’s a threat to is fraud.

And if you happen to be a bank engaged in fraud or who has otherwise incorporated fraud into your business model, then look out! US Bank learned that the hard way when McCulley won a $6 million judgment against them back in February. US Bank, to put it simply, defrauded her (so said the jury) and lied to the court (the judge called it “intentional deceit”–same diff). This is not in dispute.

If it weren’t for McCulley’s tenacity in prosecuting the case, the fraud might never have come to light. Remember, this woman appealed an unfavorable decision from prison and without an attorney. It’s that kind of determination and tenacity that the banks who commit fraud and their puppet courts don’t like.

McCulley can be contacted here:

Mary McCulley

#14704033

US Penitentiary, PO Box 2000

Bruceton Mills, WV 26525

We need to build a movement to help get McCulley out of jail ASAP as well as make sure that this kind of railroading and judicial chicanery is not visited upon others who would dare to challenge the banks…I mean, the government. By which I mean, the banks…or, well (pun intended)…you know who I mean: the Deep State…

Posted in Foreclosure fraud, Kangaroo court, Mary McCulley, US Bank | Tagged #FreeMaryMcCulley, Deep State, fraud, Hazelton, high-security, Mary McCulley, prison, us bank, West Virginia | 5 Comments

FAKE ENDORSEMENTS: JUDGE IN WELLS FARGO CASE ON RIGHT TRACK

Posted on June 9, 2014 by eggsistense

The Wells Fargo “Mortgage Foreclosure Attorney Procedure Manual” continues to make news. Now the judge in the case that brought all this to light is saying the following:

At the hearing, attorney David Dunn said the bank’s note endorsement process “relates to the endorsement by Wells Fargo of notes that are payable to Wells Fargo.”

“Well, I don’t know that for sure,” said Judge Drain, who later added: “I don’t know. If … there is an endorsement team that can retroactively put in endorsements.”

Judge Drain also ordered the bank to provide documents relating to the involvement of a note endorsement team, and any agents or employees endorsing notes by Wells Fargo with respect to Carssow-Franklin’s note.

“How this was actually processed is front and center in this case,” said Judge Drain. “I’d rather have the issue cleared up, and, frankly, I think Wells Fargo probably would too.”

I’d like to believe (but don’t!) that Judge Drain read my article “Bank of America’s Magic Wand,” which, while it’s not about Wells Fargo, it does call for exactly what Drain is trying to get at here, namely–go after the flunkies who are supposedly putting these endorsement stamps on the notes, supposedly before the notes are “securitized.” By now it’s pretty clear that the endorsers named on any of these notes are not actually the ones wielding the stamps, if in fact the stamps are even actually wielded.

Judge Drain seems to be making a very important distinction here: he wants to know how the documents were actually processed rather than how they should have been processed. In the chasm between those two processes lies the potential for the undoing not just of Wells Fargo, but of “securitization.”

Indeed, for an endorsement to be effective and legally sufficient, it needs to have been done prior to “securitization,” because securitization cannot exist without negotiation–that is, the endorsement and transfer of a promissory note. Both endorsement and transfer–not just one or the other–are what defines negotiation, and negotiation is the crux, the lifeblood of “securitization.” And “securitization” is that process that purportedly creates what are known as “mortgage-backed” securities (MBS) that have caused just a little bit of a fuss. Note: For more on why endorsements of promissory notes are so important, see this. And this.

But we know that, in many if not most cases, these all-important endorsements were either not done at all or were done after “securitization” had supposedly taken place. Which, as pointed out above, is impossible. No endorsement=no negotiation and no negotiation=no securitization. No securitization means that some trust or pool has no right to take someone’s house (that’s what it should mean, but–surprise!–courts don’t rule that way).

The flunkies and the temps need to be deposed, post-haste!

But again, Drain is right to try to get to the flunkies, one of which–who worked with Wells Fargo–blew the whistle to Naked Capitalism back in 2013. The flunkies–temps, mainly–are the ones who would have the requisite personal knowledge of what actually went on with the alleged endorsements and the document reviews. A sample of what the whistleblower revealed:

The whistleblower worked with a team of 50-60 temps, one of the two shifts involved in checking documents before and after the “corrections” were made. The temps came via agencies, were required to have a college degree and pass a security clearance, and were paid roughly $13.00 to $14.50 an hour for eight hours (seven hours of work + breaks). The whistleblower said very few people (under 20%) had prior experience with mortgage documentation. Since Wells has a long-standing practice of promoting temps into permanent positions, the workers had a strong incentive to perform well. Our source worked for the bank for nine months.

His unit would review mortgage documents of borrowers who were described as “in foreclosure” which he understood in practice meant they were delinquent but the foreclosure has not not been initiated. When our source arrived (spring 2012), they were in the process of doubling the work capacity of this effort. Wells Fargo beefed up in the wake of the state attorney general/Federal mortgage settlement of early 2012, evidently seeing it as a green light for more aggressive and systematic document fixing.

This team had two tasks. The first was to review documents that were delivered periodically (often daily) to make sure they were in order. The part we’ll focus on is that they would check the notes to see if the endorsements matched up against what the bank wanted them to look like. (Regular readers of this blog will recall that mortgage notes are endorsed to convey ownership, and in foreclosures, attorneys often challenge the foreclosure if the borrower note does not show a complete and unbroken chain of endorsements to the party initiating the foreclosure). The whistleblower estimated that 99.5% of the notes that he reviewed that had been securitized failed the bank’s tests, and roughly 10% to 15% of the bank owned mortgages were tagged as “fails”.

In my view, Drain should hear not from Wells Fargo mouthpieces or any robo-stampers/robo-endorsers (i.e., the people’s names who appear on the alleged endorsements), but from these temps. These are the people that have personal knowledge and can tell what really happened. We already know what really happened, as pointed out above: 99.5% of the “securitized” notes failed the bank’s own tests!

CONSPIRACY FACT, NOT THEORY: WELLS FARGO’S MANUAL

“IF YOU DON’T HAVE THE DOCUMENTS, PERHAPS YOU JUST DON’T HAVE THE RIGHT TO FORECLOSE.”

Posted in Conspiracy, Everything Is Rigged, Foreclosure, Foreclosure fraud, Paper terrorism, Securities, Securitization Fail, Wells Fargo | Tagged endorsement, Judge Drain, Linda Tirelli, mortgage-backed securities, Naked Capitalism, Robert Drain, robo-endorsed, robo-stamped, securitization, Well Fargo manual, Wells Fargo, whistleblower | 2 Comments

PART 2: WHAT “RECOVERY”? WHO CAN AFFORD ANYTHING?

Posted on June 5, 2014 by eggsistense

Who can afford anything? Not many people, it seems. As noted in yesterday’s post, half of America cannot afford the house they are “buying,” while at the same time rents are skyrocketing, with the number of people who pay half their salary in rent has gone up.

Now there’s this–half of the country makes less than $30,000/year. Who can afford anything? Not these people:

If you make more than $27,520 a year at your job, you are doing better than half the country is. But you don’t have to take my word for it, you can check out the latest wage statistics from the Social Security administration right here. But of course $27,520 a year will not allow you to live “the American Dream” in this day and age. After taxes, that breaks down to a good bit less than $2,000 a month. You can’t realistically pay a mortgage, make a car payment, afford health insurance and provide food, clothing and everything else your family needs for that much money.

Wanna keep body and soul together? Dig deep…

Indeed, food prices are up a shocking 19% between December 2013 and March 2014 as indicated by the chart found with this story: “The Real Inflation Fear–US Food Prices are up 19% in 2014.” Granted, prices had dipped to a low for the year by December 2013, but prices are still higher in 2014 than they were in 2013.

But it’s worse than that–since this Zero Hedge story linked above, food prices have gone even higher. In the Zero Hedge story linked above, the spot price was 432.38. If we search for the same chart today, we see that the latest chart is from two days ago, June 3, 2014. The spot price on that chart is 442.85. Steadily climbing, in other words, a few instances of falling (slightly) notwithstanding.

Kiplinger video: Oh no they di-int

Now, there are several directions one could take this story after these revelations. One is this: I watched a Kiplinger video yesterday that so incensed me I could barely write about it. So I will barely write about it–the link I clicked on to get to it was enticing, something along the lines of “3 reasons why you’re broke and how to fix it.” Paraphrased, their solutions were: 1) don’t keep up with the Joneses, 2) don’t keep making minimum payments on credit cards–pay them off, and 3) don’t play the lottery, invest that money in a Roth IRA.

I don’t have the energy to go over each one of these outrageous “solutions,” but suffice it to say that the above bit about half of people making less than $30K a year while food prices keep steadily climbing are at least two reasons why Kiplinger’s advice is not only useless, it’s extremely insulting.

Free money for banks, but not for you

But where I really think this story needs to go from here is to remind everyone that while you have to perform labor for your money, banks get it for free, in at least two ways.

First way: they create it out of nothing when you ask for a loan. They give you a “loan,” which is simply your promissory note being sold back to you. It’s completely absurd–and like the Kiplinger video, extremely insulting. In other words, the bank charges you for the privilege of creating money for them which is only ever debt for you and only ever profit for them. This is not a secret, it’s not controversial, and it’s completely admitted, most recently and publicly by the Bank of England. That’s how “loans” work. See “Unicorns Are Real–If You’re A Bank.”

The second way banks get free money is through good ol’ QE–quantitative easing. According to The Economist Magazine, the Fed creates “electronic cash that did not exist before” and gives it to the banks in “exchange” for “securities” that, by the way, are supposedly “backed” by the promissory notes that we have given them.

Full circle jerk, in other words. Great work if you can get it–but you can’t. So 1 out of 2 people reading this will make less than $30K.

Think about the unlimited money that the banks get–for free–versus the less than $30K you get working full-time. Is this how it’s supposed to be? I don’t think so, do you?

Posted in "supply and demand", class war, Crap-italism, Debt, Debt Slavery, Everything Is Rigged, Federal Reserve, Feudalism, fiat currency, Financial Terrorism, Financialization, Paper terrorism, Price, Price-fixing, QE unlimited, Redistribution, Reverse socialism, Too big to fail, Wage slavery, Wages, Wealth transfer | Tagged bailout, BLS, debt slavery, Everything Is Rigged, Federal Reserve, fiat currency, foodstuffs, inflation, promissory note, QE, The Economist, wage slavery, Zero Hedge | 2 Comments

WHAT “RECOVERY?” WHO CAN AFFORD ANYTHING?

Posted on June 4, 2014 by eggsistense

Scene: a typical American coffee shop. We see two casually-dressed friends sitting at a table, talking quietly and drinking a cup of joe. We notice one has a “grande” while the other has a “tall.”

Suddenly we hear loud guffawing and rude comments, and we glance over to the other side of the shop to locate the source of the disturbance and see that it comes from another two friends, both in suits and ties. They both have “trentas.” Banksters–gotta be.

Get the picture?

Too much month at the end of the money

If not, let me spell it out for you. Half of Americans cannot afford their houses. They have to settle for a tall at the coffee shop while the other half who isn’t–yet–having a problem affording their house can indulge somewhat in a tall. A MarketWatch article (h/t to Justice League Task Force) has the details on the small (er, “tall”) coffee folks:

Over half of Americans (52%) have had to make at least one major sacrifice in order to cover their rent or mortgage over the last three years, according to the “How Housing Matters Survey,” which was commissioned by the nonprofit John D. and Catherine T. MacArthur Foundation and carried out by Hart Research Associates. These sacrifices include getting a second job, deferring saving for retirement, cutting back on health care, running up credit card debt, or even moving to a less safe neighborhood or one with worse schools.

“Affordability issues are real and a major hurdle,” says Lawrence Yun, chief economist at the National Association of Realtors, an industry group. Home prices have increased 20% over the past two years while wages have barely gone up, he says. “Only by adding more new supply, via housing starts, can home prices be tamed,” Yun adds. In fact, construction of housing units has averaged around 1.5 million a year for the past five decades, he says, but it’s likely to be less than 1 million in 2014.

Make sure you get this nugget in particular, from above: “Home prices have increased 20% over the past two years while wages have barely gone up.” So people are forced to do that “uniquely American” thing that George Bush found so heart-warming: get another job. A second job. A third job. They line up outside grocery stores, as I saw this morning:

How about renting, then?

Okay, some will say, don’t buy a house. Just rent, if that’s all you can afford. Yeah, that’d be nice, except for this unfortunate fact–“More Americans fork half their salary over to landlords”:

Renting has become significantly less affordable in recent years, a report released Monday by the Harvard Joint Center for Housing Studies finds. In fact, 50% of U.S. renters spent more than 30% of their gross income on rent (the traditional measure of affordability) in 2010, up a record 12 percentage points from the 38% of households facing such a burden a decade prior. And many of those households, about 27% of renters, spent more than half of their salary on rent, up from just 19% of renters a decade ago.

This comes at a time when more Americans are renting: 35% in 2012 versus 31% in 2004. The consequences for those who can’t find affordable housing can be dire, the report noted, leading families on already tight budgets to spend significantly less on health care and retirement savings.

So renting instead of buying isn’t really the greatest solution (beats homelessness, of course), but thanks for suggesting it, Mr. and Mrs. “I’ve Got Mine and Don’t Think Anything’s Wrong and Why Don’t You Just Get a Job and Stop Whining.”

OK, why not just borrow against the “equity” in your house?

Oh yeah, that’s always a swell idea–always works out great. But here’s the thing: people are taking out HELOCs again. Why? Maybe they already have three jobs and have already spent all their savings and have already borrowed from family and friends. Or maybe they just want to be able to afford to send their kids to college, even if they’re “medical-device scientists”:

Ian Feldberg planned to open a $200,000 Heloc this week with Belmont Savings Bank to help pay his son’s college tuition. The medical-device scientist purchased his home in Sudbury, Mass. for a little over $1 million in 2004, and estimates that its value dipped as low as $800,000 during the financial crisis. However, after applying for the line of credit, he found that its value had completely recovered.

“I’m very pleased about that. My options for tuition fees were either that or to cash in on my pension prematurely,” he said.

Indeed, these loans are really starting to take off again:

“The Wall Street Journal reported yesterday that home-equity lines of credit (Helocs) had increased at a 8% rate year-over-year in 1Q14. Some banks are more aggressive than others, and perhaps we shouldn’t be surprised to see TBTF government welfare baby Bank of America leading the charge, with $1.98 billion in Helocs in the first quarter, up 77% versus 1Q13.“

Always remember and never forget…

All this money that the banks supposedly have to “lend” and that we don’t have and supposedly “borrow” from them is created out of thin air. The banks don’t risk a dime in these transactions. It’s a complete scam. That is the proper place any discussion on these issues should start, yet it never starts there. Trying to change that…

Posted in Asset Bubble, Bank of America, Crap-italism, Debt Slavery, Everything Is Rigged, Federal Reserve, fiat currency, Financial Terrorism, Financialization, Price, Price-fixing, Rent-seeking, Rentier, Wage slavery, Wages | Tagged can't afford house, coffee, grande, HELOC, Justice League Task Force, landlord, money is fictional, money out of thin air, prices, rent, Rentier, salary, second job, tall, third job, venti, wages | Leave a comment

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