Saturday, November 13, 2010

"No. We don't do mortgages in my country...I don't have any idea about mortgages when I started here."

We cannot thank the diggers at Zero Hedge enough for their incessant coverage of the biggest-crisis-that-no-one-is-talking about, ForeclosureGate.  Well, perhaps I shouldn't say no one's talking about, because the robosigners certainly are.

Check this out from Zero Hedge:  "The Nine Most 'Inconvient' Robosigning Admission BOA Would Love to Disappear."  You don't have to struggle through the long embedded videos of taped depositions from some of the MERS robosigners--just read the choice parts below each.  Here are my favorities:

"Do you know specifically what you're authorized to do for MERS?"
"Just sign the documents."
"Do you know specifically what you're authorized to do for City Residential Lending?"
"Just sign the documents."

"Why did you sign this document indicating that your address was in California if that in fact was not your address?"
"Because my name was on the document."
"So it was presented to you to sign and you signed it."

"In addition to notarizing assignments of mortgage, do you ever sign assignments as a vice president of a company?"
"For which companies have you signed as vice president?"
"I couldn't list all."
"Could you give me some examples?"
"Chase Morgan. Wells Fargo. I'm on pretty much every corporate resolution."
"Would it be accurate to say that there are maybe an excess of 20 companies or banks that you sign as vice president?"
"That would be fair to say."

"What did you study [in the one year of college]?"
"Nothin'. It was just the basic."
"General courses?"
"Do you have any other additional training or education in banking or finance?"
"Real estate?"

"When you say 'financial' are you referring to matters relating to banking?"
"No. We don't do mortgages in my country. ... I don't have any idea about mortgages when I started here."

This is what our banking system is based on--fraud, fraud, and fraud, and fraudulent documents!  We have no idea who "owns" what!  We have a group of banks who are admittedly involved in a conspiracy to fabricate official court documents and financial records, a group of banks funding a front company, MERS, that is specifically designed to circumvent the law, but don't worry, the recession is over, and everything is fine!  

The only thing more outrageous about this scandal than the acts of the banks are the acts of the so-called "watchdogs" --the media and government--in ignoring and papering-over this fantastically illegal behavior.  At least we have Zero Hedge, and hopefully some relentless lawyers who will no compromise with these fraudsters!  It remains to be seen whether or not the newly-elected AG's replacing some of the AG's involved in the 50-state probe will continue to persue the criminal enterprise known as MERS.  

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