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Fraud Factories: Rep. Alan Grayson Explains the Foreclosure Fraud Crisis

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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-02-10 08:09 PM
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Fraud Factories: Rep. Alan Grayson Explains the Foreclosure Fraud Crisis
 
Run time: 07:49
http://www.youtube.com/watch?v=AqnHLDeedVg
 
Posted on YouTube: September 30, 2010
By YouTube Member: RepAlanGrayson
Views on YouTube: 27214
 
Posted on DU: October 02, 2010
By DU Member: babylonsister
Views on DU: 778
 
This is Rep. Alan Grayson explaining the crisis of foreclosure fraud and how it links to the entire securitization chain of Wall Street.

http://digbysblog.blogspot.com/2010/10/blighted-titles....

Blighted Titles

by digby

If you've been following this amazing, unfolding foreclosure fraud story then you probably already know that JP Morgan/Chase, BofA and GMAC have all suspended foreclosure processes around the country now that it's been revealed they've been committing massive fraud. And Attorneys General in a number of states have also stepped in to stop the process, for the same reason.

But if you are just coming into the story, as is most of the national press, Alan Grayson has prepared a valuable primer on the crisis that's wee worth watching:

He lays out the history from the beginning when mortgage mills failed to properly file documents, instead using shortcut electronic transfer program instead of the documentation required by law. It's snowballed from there, to the point where nobody really knows who owns what and the crisis atmosphere has given cover to fraudsters, con men and greedy bankers.

more...

http://digbysblog.blogspot.com/2010/10/blighted-titles....
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democracy1st Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-03-10 12:22 AM
Response to Original message
1. K & R thanks for posting babylonsister
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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-03-10 03:01 AM
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2. Great video. Thanks.
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Junkdrawer Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-15-10 05:35 PM
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3. Kick
This video was posted before its time.
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Generic Other Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-16-10 12:44 AM
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4. K&R
Thanks for this!!
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