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Reply #62: Particularly insightful on the motivation of bankers [View All]

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jeanpalmer Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-26-10 06:13 AM
Response to Original message
62. Particularly insightful on the motivation of bankers
for manufacturing fraudulent foreclosure documents:

We repeat: Foreclosure fraud is the necessary outcome of the epidemic of mortgage fraud that began early this decade. The banks that are foreclosing on fraudulently originated mortgages frequently cannot produce legitimate documents and have committed "fraud in the inducement." Now, only fraud will let them take the homes. Many of the required documents do not exist, and those that do exist would provide proof of the fraud that was involved in loan origination, securitization, and marketing. This in turn would allow investors to force the banks to buy-back the fraudulent securities. In other words, to keep the investors at bay the foreclosing banks must manufacture fake documents....Foreclosure fraud is the only thing standing between the banks and Armageddon.
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  -HOLY SHIT! Scathing charges being laid out on Ratigan - UPDATED w/video Subdivisions  Oct-25-10 03:11 PM   #0 
  - But I can't, so how about a hint?  HereSince1628   Oct-25-10 03:13 PM   #1 
  - I'm beefing up the OP with background info and will post vid when available. n/t  Subdivisions   Oct-25-10 03:15 PM   #5 
  - Charges laid out on Ratigan? What did Ratigan do? Perhaps he meant "by" Ratigan.  Towlie   Oct-26-10 10:11 AM   #78 
  - Can't see it. No TV where I am. Can you give us a hint?  MineralMan   Oct-25-10 03:13 PM   #2 
  - Ratigan and Black reported on the announcement by Bernanke  JDPriestly   Oct-26-10 01:41 AM   #56 
     - So this is still just between the feds and the banksters and no help  jwirr   Oct-26-10 11:30 AM   #86 
     - Still we are trying to save a failing banking system.  AlbertCat   Oct-26-10 12:21 PM   #94 
     - I started reading about REMICs, MBS and traunches, but got side  tsuki   Oct-26-10 10:43 PM   #110 
  - Deleted sub-thread  Name removed   Oct-25-10 03:15 PM   #3 
  - It's about the fraud in mortgages...  glowing   Oct-25-10 03:15 PM   #4 
  - thank you  grasswire   Oct-25-10 03:20 PM   #8 
  - thanks! nt  WolverineDG   Oct-25-10 03:21 PM   #9 
  - An earlier guest referred to "Malicious Bankers With Syphilis"...  pinboy3niner   Oct-25-10 03:25 PM   #10 
  - I vote for swift and stabbing.  MedicalAdmin   Oct-26-10 11:24 AM   #85 
  - What did Ratigan do now?  FSogol   Oct-25-10 03:18 PM   #6 
  - Oh FFS! n/t  Subdivisions   Oct-25-10 03:20 PM   #7 
     - Great OP you need this  madmax   Oct-26-10 03:23 PM   #104 
  - K & R  Better Believe It   Oct-25-10 03:25 PM   #11 
  - LOL! Thanks for the laugh and best of luck to your guys! n/t  Subdivisions   Oct-25-10 03:28 PM   #13 
     - Should be a good series, at least I hope so.  Better Believe It   Oct-25-10 03:32 PM   #14 
        - We're all very excited in these parts. And that it was A-Rod that took  Subdivisions   Oct-25-10 03:35 PM   #16 
           - You mean the Yankees are  femrap   Oct-25-10 07:54 PM   #49 
           - Well good luck to the Texas Rangers. If the San Francisco Giants don't win the World Series ....  Better Believe It   Oct-26-10 10:26 PM   #109 
  - His whole show is scathing - went from mortgage fraud to war fraud...  polichick   Oct-25-10 03:25 PM   #12 
  - Pentagon lost 2.2 trillion dollars  molly77   Oct-25-10 05:25 PM   #46 
     - Hmm...I know a lot went missing after 9-11, presumably given to...  polichick   Oct-25-10 07:35 PM   #47 
        - this was reported right before 9/11....  femrap   Oct-25-10 08:00 PM   #50 
           - Yet  dotymed   Oct-26-10 08:22 AM   #67 
              - We have dealt w/ Robber Barons  femrap   Oct-26-10 09:12 AM   #73 
  - That was a terrific segment. Until there is real accountability in the financial realm, we're F'd.  Parker CA   Oct-25-10 03:33 PM   #15 
  - Finally someone has publicly uttered the "F" word: Fraud!  Vinca   Oct-25-10 03:36 PM   #17 
  - That was the most incredible news segment I've seen since I can't remember when.  Subdivisions   Oct-25-10 03:37 PM   #19 
     - It was astonishing! The woman - Ms. Epstein ? - knew the subject  Vinca   Oct-25-10 03:40 PM   #20 
        - Even Ratigan was making faces and whincing at what Black was saying! n/t  Subdivisions   Oct-25-10 03:44 PM   #22 
  - Will this investigation occur because Bill Black calls for it?  treestar   Oct-25-10 03:37 PM   #18 
  - What the flying fuck are you talking about?  Subdivisions   Oct-25-10 03:42 PM   #21 
  - Fucking Aye! Canceled the unrec.  golddigger   Oct-25-10 03:46 PM   #23 
  - Then why are you so excited?  treestar   Oct-25-10 03:52 PM   #24 
  - Deleted message  Name removed   Oct-25-10 04:14 PM   #35 
  - Joseph Stiglitz, an internationally renowned economist  PA Democrat   Oct-26-10 06:14 AM   #63 
  - I think your response is over the top and uncalled for. The poster just asked a question.  earcandle   Oct-26-10 12:15 PM   #93 
  - They could still your Grandmother's teeth from the glass at her bedside while screwing a pygmy goat  TheKentuckian   Oct-25-10 03:53 PM   #27 
  - "Who is he...?"  laughingliberal   Oct-25-10 11:35 PM   #55 
  - Actually, those three were in their current positions when  JDPriestly   Oct-26-10 01:55 AM   #57 
  - I guess Enron was  Enthusiast   Oct-26-10 03:37 AM   #60 
  - You don't need Black's creds to know how inadequate our gov't's response has been.  snot   Oct-26-10 09:29 AM   #75 
     - I was involved in aspects of the S&L crisis in a very minor way  JDPriestly   Oct-26-10 02:09 PM   #102 
  - it was pretty clear to me, at least  northernlights   Oct-26-10 10:43 AM   #81 
  - Where's the beef?  mmonk   Oct-25-10 03:52 PM   #25 
  - great commentary.  MedicalAdmin   Oct-26-10 11:30 AM   #87 
  - The economy being in ruins isn't "beefy" enough for you  lark   Oct-26-10 12:36 PM   #95 
  - He has spoken the unspoken truth about this whole debacle. Fraud perpetrated on an  Greyhound   Oct-25-10 03:52 PM   #26 
  - Thank you! n/t  Subdivisions   Oct-25-10 03:57 PM   #28 
  - Not everyone in the Real Estate sector.  mmonk   Oct-25-10 04:02 PM   #31 
     - Of course, just doing your job. You never had a clue that selling houses  Greyhound   Oct-25-10 04:53 PM   #41 
        - My evaluations are predicated on previous sales.  mmonk   Oct-25-10 05:10 PM   #43 
           - You may not have cheated, but you were part of a system that cheated.  JDPriestly   Oct-26-10 02:03 AM   #58 
           - OF course you are not personally responsible for the problem.  MedicalAdmin   Oct-26-10 11:37 AM   #88 
  - Don't count on Dylan RATigan to tell you the truth (that is the CONTEXT)  flamingdem   Oct-25-10 04:00 PM   #29 
  - This OP isn't about Wikileaks. n/t  Subdivisions   Oct-25-10 04:02 PM   #32 
  - I fine Ratigan a reliable source overall, and listen to EVERYTHING with caution and skepticism  librechik   Oct-26-10 08:32 AM   #69 
  - It's not just corporate owned,  Mosaic   Oct-26-10 09:53 AM   #76 
  - Well said Liberalchik.......Listen to everything  blackbart99   Oct-26-10 12:39 PM   #96 
     - some folks are helpless against the emotional appeal of propaganda  librechik   Oct-26-10 04:22 PM   #108 
  - You want commentary to be "balanced"?  lark   Oct-26-10 12:40 PM   #97 
  - I Respectfully Disagree  Mark D.   Oct-26-10 02:10 PM   #103 
  - Here's the video...  Subdivisions   Oct-25-10 04:01 PM   #30 
  - Thanks  mmonk   Oct-25-10 04:06 PM   #33 
  - Thank you VERY much!  OneGrassRoot   Oct-25-10 04:18 PM   #37 
  - K&R and thank you so much for posting this  inna   Oct-25-10 04:09 PM   #34 
  - k & r  girl gone mad   Oct-25-10 04:17 PM   #36 
  - K&R! Thanks for this!  JuniperLea   Oct-25-10 04:22 PM   #38 
  - Deleted message  Name removed   Oct-25-10 04:27 PM   #39 
     - You must be on someone's list...  JuniperLea   Oct-25-10 04:35 PM   #40 
     - Yeah... it always seem to be "them."  LanternWaste   Oct-25-10 05:03 PM   #42 
        - Tell me, what was said in post #3 before I alerted on it? n/t  Subdivisions   Oct-25-10 05:11 PM   #44 
  - HUGE K & R !!!  WillyT   Oct-25-10 05:15 PM   #45 
  - knr nt  slipslidingaway   Oct-25-10 07:43 PM   #48 
  - will never happen in the bank owned U.S.A.  ShamelessHussy   Oct-25-10 08:22 PM   #51 
  - But we shouldn't call them banksters. It is so immature.  Warren Stupidity   Oct-25-10 10:27 PM   #52 
  - How about we call them thieves?  txaslftist   Oct-26-10 10:39 AM   #80 
  - How many families have lost their homes while the bankster moles in the administration  EFerrari   Oct-25-10 10:34 PM   #53 
  - "...putting in people who are going to uphold the rule of law."  depakid   Oct-25-10 11:25 PM   #54 
  - Agree, depakid  democrank   Oct-26-10 02:05 AM   #59 
  - Wow, how sickening and disheartening.  spicegal   Oct-26-10 05:43 AM   #61 
  - I feel the exact same way. Disgust, is only the beginning of how...  kjackson227   Oct-26-10 09:10 AM   #72 
  - I am not advocating this, but...  MedicalAdmin   Oct-26-10 11:42 AM   #89 
  - Particularly insightful on the motivation of bankers  jeanpalmer   Oct-26-10 06:13 AM   #62 
  - K&R. It was an excellent segment on Ratigan. eom  NorthCarolina   Oct-26-10 07:18 AM   #64 
  - From The Get-Go, I've Been Watching Ratigan & Have Found Him To  ChiciB1   Oct-26-10 08:14 AM   #65 
  - And what will come of this?  Javaman   Oct-26-10 08:21 AM   #66 
  - +1  kjackson227   Oct-26-10 10:43 AM   #82 
  - Ratigan just gets better and better. REC. nt  bertman   Oct-26-10 08:25 AM   #68 
  - Fire and Proscute, Damn it!  mymomwasright   Oct-26-10 08:50 AM   #70 
  - The systematic theft of America's homes  mstinamotorcity   Oct-26-10 09:01 AM   #71 
  - Wow, powerful post that explains exactly what's happening...  kjackson227   Oct-26-10 10:36 AM   #79 
     - exactly who do we vote for?  northernlights   Oct-26-10 10:47 AM   #83 
     - Critical point. Hurray for our side is not going to fix this in a million years.  TheKentuckian   Oct-26-10 11:44 AM   #90 
     - This is not about a cheer, but a statement that our vote is still THE most powerful  kjackson227   Oct-26-10 01:01 PM   #100 
        - the unanimous voice vote  northernlights   Oct-26-10 03:57 PM   #106 
     - Good question.  MedicalAdmin   Oct-26-10 11:46 AM   #91 
        - You're right. It starts at the local level...  kjackson227   Oct-26-10 12:46 PM   #98 
     - Its worse than that  mstinamotorcity   Oct-26-10 01:04 PM   #101 
  - Good on Ratigan for taking on this hot potato.  avaistheone1   Oct-26-10 09:28 AM   #74 
  - ...  Towlie   Oct-26-10 10:10 AM   #77 
  - A thread from a couple weeks ago  Po_d Mainiac   Oct-26-10 11:00 AM   #84 
  - Holder could be gathering evidence, but he should hand down some indictments soon  yurbud   Oct-26-10 11:55 AM   #92 
  - Mozilla of Countrywide was one of the worst.  JDPriestly   Oct-26-10 12:51 PM   #99 
     - Obama let most corrupt members of Senate take the lead on health care reform too  yurbud   Oct-26-10 04:18 PM   #107 
  - it`s not going to happen....  madrchsod   Oct-26-10 03:35 PM   #105 

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