Yes! Robo-Signing Mortgage State Settlement Something to Cheer About
Officials from more than 40 states have signed onto a record $25 billion settlement with the five biggest banks related to foreclosure abuses including "robo-signing" of documents. For the past year, President Obama has advocated for a mortgage relief plan with the five biggest mortgage servicers, Bank of America, JPMorgan Chase, Wells Fargo and Ally Financial, to settle an investigation of foreclosure abuses. Evidence of robo-signing foreclosure documents began to show in 2010 during a record national wave of foreclosed homes. "This enables us to move forward into the very final stages of remaining work. Federal and state officials, as well as representatives from the banks, continue to address matters that they must complete before finalizing any settlement," Iowa Attorney General Tom Miller said in a statement late Monday. – Los Angeles Times
Dominant Social Theme: OK, it's not perfect but it's a beginning. Now let's get some serious regulation focused on the problem.
Free-Market Analysis: The Los Angeles Times columnist David Lazarus has posted a video commentary on "robo-signing" saying that while the pending deal (see excerpt above) with leading mortgage lenders isn't the best possible outcome for homeowners, it's probably the best they can hope for.
Lazarus uses a couple of super-hero dolls to illustrate his points. He explains that mortgage-holders "played by the rules" while the banks did not. The US$25 billion settlement isn't perfect, but at least it will get some money back to mortgage holders and defer some foreclosures.
Banks, he says, will continue to practice shady lending but the way to deal with banks in the mortgage field is to focus on them aggressively with government regulation.
Lazarus's remarks are supported by canny, alternative journalists like Ellen Brown; an article of hers on the mortgage mess has circulated widely recently. In it, Ms. Brown makes the point that the mortgage mess needs SERIOUS investigation to find out what the banks did.
She makes the point that the robo-signing fraud, in which machines, not people, signed mortgage contracts, was implemented to increase liquidity for the largest fund companies even though it wasn't a legal practice.
Like Lazarus, Ms. Brown believes the only serious solution to the mortgage mess is SERIOUS regulation. She states this forcefully in her article, entitled "Why the AGs Must Not Settle: Robo-signing Is Just the Tip of the Iceberg".
Ms. Brown writes: "Hundreds of years of history have demonstrated that the only reliable guarantor is the government itself ... Banking and credit need to be public utilities, operated for the benefit of the public in plain sight of the public."
We have great respect for Ms. Brown and for the myriad mainstream and alternative news outlets that posted her article on Robo-signing. By posting well-written views in cyber-space on a regular basis, Ms. Brown incites both conversation and controversy.
We do, however, disagree with her conclusions, and have disagreed with them – mildly or emphatically – from the point in time when we became fully aware of their ramifications. We continue to be convinced that "bigness" serves no one but the most powerful and wealthy among us.
In fact, as we argue every day, modern Western governments do NOT serve the people. They have been taken over behind the scenes by the same handful of families – and their enablers and associates – that control the world's central banks.
These families are interested, it seems, in creating one-world government. They do this by using mercantilism – conflating government laws and regs with their personal interests – that enshrines their wealth making processes as law.
One can see this with central banking. These families apparently control more central banks around the world printing money-from-nothing.
But in order to facilitate this privilege, the Anglosphere power elite has actually passed laws – almost everywhere throughout the world – ensuring that central banks and their money-printing privileges are the LAW OF THE LAND.
One can see from this example that Western regulatory democracies are prone to manipulation by those with the most money. And if you can print money virtually at will, then the chances are you will dominate the societies in which you live.
Even leaving aside the issue of how pliable regulatory democracy is when it comes to those who want to manipulate it using great wealth, there are probably other reasons why we want to be careful how big we want to make government and how much power we want to give it.
That's because laws and central banking policies are basically price fixes, transferring wealth from those who create it to those who do not and likely won't use it as effectively.
In fact, most reputable economists will admit that price-fixing is a bad, distortive idea that basically makes everyone poorer. So why then, would anyone want to make government even BIGGER and more distortive?
Finally, we just don't trust government. In the 20th century alone, we believe governments (according to studies like Black Book's) may have been responsible for the cold-blooded deaths of up to 150 million.
But beyond the murder and mayhem, there is the idea of what we call directed history. We've come to the conclusion that much of the history of the 20th century was in a sense falsified in order to create a trend toward global government.
We believe the Anglosphere elites that want what is popularly known as a New World Order are behind these events. How else to explain that almost every major disaster and war always ends up in a call for MORE central government, more bigness and more authoritarianism generally?
People are not apt to call for an abnegation of their responsibilities and freedoms, yet for the past 100-plus years at least, this is just what's been happening. As a result, we have in place a full spectrum of global governance, including the UN, NATO, IMF and various trade forums and international criminal and civil courts.
Perhaps this all a kind of "coincidence." But the architecture of global governance has been erected in about 50 years, actually, which is pretty darn fast. Seems like there's a pattern to us.
And that brings us back to this robo-signing mortgage mess. And why we're glad that the big banks are getting off the hook.
We WANT the facilities created by the Anglosphere to keep practicing business-as-usual, along with the regulatory authorities that supposedly supervise them. We want them to do so because it's the only way, in our humble view, that people will ever start getting the idea that something has GONE SERIOUSLY WRONG.
The power elite in aggregate is pretty darn clever (as we would be too if we controlled tens of trillions) and the solutions to the problems that are apparently purposefully being caused are always the same and include the utilization of authorities that the elites have created and continually manipulate.
In other words, you are not going to "clean up corruption" or "get to the bottom" of the robo-signing mortgage mess by having "AGs" look into the matter.
In fact, the US "justice system," with some six million under lock-and-key for a variety of offences such as smoking a marijuana cigarette at the wrong time in the wrong place, is as corrupt and vicious as it gets.
We've made the point over and over now that what will salvage Western society in the long-term is a gradual erosion of the current elitist system. It won't happen through investigations or even violent revolution, however.
It will happen, eventually, when people quietly and firmly decide to "opt out." They will be so sick of the corruption and evil in a system that portrays good as bad and truth as lies that they will not be able to bring themselves to participate in it anymore.
That's the only way in our view. Like the Incans and Mayans before, sick to death of the bloodshed of their own priestly class, people will have to metaphoricaly melt back into the woods and mountains from whence they came.
it won't be so bad. Leave archeologists of the future to argue about whether it was global warming or crop disaster that caused the failure of the current magnificent Western civilization.
Meanwhile people can begin to live again without being endlessly taxed by tithes and "clipping." Their children can grow up drinking raw milk and eating fresh vegetables. They'll have a chance to live rather than to be sacrificed in nonsensical, elitist, foreign wars.
This settlement is merely one more indication that the system itself – in the US and in the European Union, too – is a terminal one. There is nothing that can be done to fix it. There is nothing that can be done to "fix" Wall Street, either, in our view.
There is nothing that can be done to fix the banking industry, which more and more looks to be a large money-laundering facility for drugs and gambling – neither of which should be illegal in the first place.
People need to evolve their systems and societies toward natural law and what worked in the past – smaller, flexible communities and private justice where people solved their problems on their own or with the help of a local intermediary.
Nationalism, globalism, communism, capitalism ... these are all "isms" that serve as distractions from what matters most – organizing society along habitable and merciful lines with an emphasis on local control and the kind of human action that free-markets support.
Sound like a pipe dream? Maybe so. But the Internet Reformation – a broad array of information on the Internet that is challenging the dominant social themes of the elite – continues to make an impact. Global warming, the war on terror, even politics-as-usual have all come under attack thanks to the Internet's alternative media.
It sounds terrible to say it, but we don't want the facilities of the US empire – its fiercesome Intel agencies – to enforce equally fiercesome laws in the name of "justice." Justice, as it is administered today, is nothing more than another elite dominant social theme aimed at further expanding the foundation of world government.
Give us a peaceful sociopolitical evolution away from the monstrous system that has been erected around us. Give us a way out of the matrix of control that distorts our lives from birth to death – and our children's lives and future too.
We do not look for justice from the terminally damaged US system. We look for solutions that are mentioned in the US Constitution and certainly in the US Declaration of Independence. These emphasize natural law, human action and individual liberty. They are the building blocks upon which the US in particular was founded – as a republic.
The idea that the modern-day US Leviathan is capable of providing "justice" for those denuded of houses and treasure by the robo-signing mortgage scam strikes us as unrealistic for all these reasons and more.
Perhaps you disagree with us. Heck, likely you do. We're sure Lazarus does. You can see his video here:
Posted by Bobby7 on 02/07/12 01:30 PM
Why do Americans die in their tens of thousands in countries they should not be in, while in America, no American is prepared to die for their home or their Constitution? What is WRONG with Americans? Are they BRAIN DEAD? What about the future of THEIR children?
It seems to me that Hollywood & Big Media have EMASCULATED the American Male & his country has been taken over by PARASITIC aliens.
Posted by runderwo on 02/07/12 01:49 PM
Gee, how interesting, buried pages deep in an article:
Maldives president quits after mutiny on paradise islands
Click to view link
Gayoom's opposition Progressive Party of the Maldives accused the military of firing rubber bullets at protesters and a party spokesman, Mohamed Hussain "Mundhu" Shareef, said "loads of people" were injured. He gave no specifics.
An official close to the president denied the government had used rubber bullets, but confirmed that about three dozen police officers defied orders overnight and attacked a ruling party facility.
"This follows Gayoom's party calling for the overthrow of the Maldives' first democratically elected government and for citizens to launch jihad against the president," said the official who declined to be identified.
The protests, and the scramble for position ahead of next year's presidential election, have seen parties adopting hardline Islamist rhetoric and accusing Nasheed of being anti-Islamic.
Posted by runderwo on 02/07/12 01:50 PM
Another technocracy on the way?
Romanian prime minister and cabinet resign en masse
Click to view link
The Romanian prime minister and his cabinet have resigned after weeks of sometimes violent protests over widespread corruption and austerity measures.
Emil Boc said on Monday he was quitting "to release the tension in the country's political and social situation".
During his three-year rule, salaries of state employees were cut by a quarter and VAT increased by five percentage points, while the European debt crisis hit Romania's exports hard.
It was a toxic combination in a country that was already the second poorest in the EU, better off only than Bulgaria, which also joined the union in 2007.
The collapse of Boc's cabinet marks the fall of yet another EU government since the euro crisis started to bite. Since 2009, governments in Slovakia, Slovenia, Greece, Italy, Latvia, Ireland and the Czech Republic have imploded before scheduled elections, with economic woes playing a significant role in each demise. Voters in Hungary, Spain and Portugal also signalled their unhappiness with the fiscal policies of their governments, plumping for new leaders at the ballot box.
Posted by amanfromMars on 02/07/12 01:51 PM
[blockquote]amanfromMars wrote: …. in response to Click to view link
Surely the problem which is being studiously avoided because of the crooks it delivers, is that rules which are already in place, and which were earlier specifically put in place to curtail such abuses as are now causing the system to collapse, are being flagrantly ignored by players and the system which is supposed to police them and prosecute the guilty perps who would bend and break and expect rules to not apply to them and their friends, for of course one does need to be a dodgy member of a larger criminal conspiracy to be able and enabled in such dumb shenanigans/crazy crimes/fraudulent transactions/call them what you will?
Steal a dollar, go to jail, ... .. steal a billion or two, collect a multi million dollar bonus, is a rich fools' game in which everyone who plays it, loses everything eventually suddenly. And whenever allied to Ponzis is it a double whammy of a direct hit.
Feb 07, 2012 1:56am EST
Comment successfully submitted.
Your post is pending approval. Published comments can be removed if they do not meet our standards.[/blockquote]
Obviously was that post not approved, for there is still no comment at all on that Reuters' report, which itself is quite odd.
And this is a nice clear 5minute expose on where things are headed with the dollar/fiat currency system ... ... ... http://youtu.be/oGIvw7T0GPI
Posted by amanfromMars on 02/07/12 02:00 PM
I'll see your rubber bullets, runderwo, and raise you some nerve agents ... ... . Click to view link
Time for routine random drugs testing of politicians, methinks, for they are definitely hooked on something which doesn't agree with them.
Posted by Optout on 02/07/12 02:08 PM
Yes, life really can be simple and a pleasure. Especially with all the advancements in technology and division of labor within the last 50 years. But the 'masters' cannot allow that. The majority must be miserable for the few to be powerful. It will take the majority realizing they don't need all the rules and regulations to live and prosper. A large education effort is needed for that to be successful. The internet is leading that for now. Until then I will continue on under the radar and live free in an unfree world as best I can.
Long term savings in gold/silver and no debt (except mortgage) and maybe even some off the books trading. Ignoring the system as best I can and teaching anyone who will listen the same.
Posted by mark on 02/07/12 02:15 PM
Click to view link
Special Drawing rights
Posted by Ichabod on 02/07/12 02:18 PM
"People need to evolve their systems and societies toward natural law and what worked in the past - smaller, flexible communities and private justice where people solved their problems on their own or with the help of a local intermediary."
Well, natural law didn't come by the Gutenberg Press. It was the Reformation that came and changed Europe and established truth and justice based on the Trinitarian God. Not long ago I read a DB article that called attention to that. Good for you.
That's a problem for Libertarians. Not a problem for me because it's a part of the foundation of the Reformation. I can see the reconciliation of all inviduals within a union (E Plurabus Unum. That concept is part of our founders thought with the creation of a Republic, One Nation Under God. It's the God thing that gets in the way of Libertarian in the anarchist camp.
For me there is no neutrality. We can have a union for free citizens that the collectivists abhor. And we can have a union that Libertarians could cheer. So there we are. Caught between two Irreconcilable concepts. I know which side will ultimately win. But I don't know when that will be and how long the period of decline we are in will last.
If Ron Paul were to win this election, there could be a new sunrise for America. Lets give truth a chance.
Posted by Hognutz on 02/07/12 03:21 PM
Smartest damned thing I heard in awhile!!!
Posted by bionic mosquito on 02/07/12 03:27 PM
"The idea that the modern-day US Leviathan is capable of providing "justice" for those denuded of houses and treasure by the robo-signing mortgage scam strikes us as unrealistic for all these reasons and more."
This is quite true. Rest assured, any such "settlement", such as this one, is good for the banks.
Even worse, where will the "money" (digits) come to pay the settlement? The Fed is already in to the banks for trillions, what is a few more digits?
The money will come from the further debasement of the dollar. The wealth will be trnasferred from dollar holders to the states involved in the settlement. The banks won't lose a penny in this deal.
"Justice, as it is administered today, is nothing more than another elite dominant social theme aimed at further expanding the foundation of world government."
This is quite true as well, although, I will admit, emotionally not satisfying.
What a treat it would be to see many of these perpetrators do the walk, right into maximum security prisons with all of the hell that exists in such environments.
But until the Fed can create fiat humans as easily as it creates fiat dollars, I do not see this price being paid...
... at least not before the politicians see that their own necks are on the line. Then the trials will begin.
That will be an emotonally satisfying time - yet I agree, just another building block in "the government stands for justice" falsehood.
Posted by Danny B on 02/07/12 10:54 PM
Oh Great Bell, a few good things to read. It seems that the central bank system has failure built into it.
Click to view link
A good article on why income inequality always results in failure.
Click to view link
This article talks about the decline of central banking.
Click to view link
This is an article talking about the ideas of Paul Baran. America has been absorbing the surplus production / wealth of the emerging world for quite some time. The emerging world is starting to make progress in pulling away.
Click to view link
The Paul Baran article explains pretty well how Argentina went from such wealth to such poverty. Asia is learning how to avoid this trap.
This is an important article that seems to show America losing the cyber war.
Click to view link
Russia has made their position on Iran and Syria VERY clear.
Click to view link
I don't doubt that the elves and gnomes have already read all of this. I post for those who have limited time to investigate.
The long and the short of all this is that the current crop of central banks and the banking / GOV cartel are running out of wealth to steal.
The productive sector that provides nourishment hes either died off or run away.
China did an ICBM launch off of Los Angeles to show that they are not to be trifled with.
The CBs are on the road to ruin and now fighting between themselves for survival. If you read enough of FOFOA, you see the claim from "Another" that the BIS is fighting against the IMF / Dollar.
ASEAN and the BRICs don't plan to be fleeced. MERCOSUR hopes to avoid this.
The Western CBs have used up all the wealth,,, substituted credit for wealth,,, destroyed that and now have nothing left.
While I understand the DB wanting the collapse to come sooner than later, the PTB are trying to postpone it to;
Re-elect obummer and trash Iran.
Russia and China are very aware of the effect of a strategic delay to these plans.
Not just Russia and China.
Lieberman and Netanyahu are foaming at the mouth.
There has always been speculation that the Rockefeller zionists would eventually abandon israel. Morris seems to believe that that time is soon.
Click to view link
Who knows when that time may come?
The European CBs will crash first. The FED will follow.
The elites will make sure that there is a LOT of suffering. Their vision is that all that suffering will cause the masses to cry out for a [global] savior. Should the internet survive, there will be MANY who will demand a departure from a central "everything".
Europe is finally starting to get a sense of what it can do by networking through the net.
Click to view link
The elites are WELL aware of this. THAT is why they are trying to get everything done by appointees rather than elected people. There are 2 possibilities that the West needs to follow. Demonstrations don't look to be very safe.
Click to view link
General strikes and refusal of ANYTHING from the U.N seems to be a good starting point.
Posted by speedygonzales on 02/08/12 12:28 AM
Posted by speedygonzales on 02/08/12 12:31 AM
The funny stuff is that we make globalization! I love globalization. I just do not like those old fashioned guys.
Posted by R on 02/09/12 03:35 PM
The "settlement" is based upon a false premise and is designed to assert and create even more big government and direct wealth into crony-capitalism in all of its varous manifestations.
The matter has become moderately complicated and convoluted with false accusation and many false victims, but broadly stated, Corrupt government and government regulation in conjunction with the tenants of Socialist Liberalism is the proximate and predominant cause of the housing crisis (and many other "Ills").
The real victims are the majority of Responsible homeowners who did not engage in the contrived, government coerced, sub-prime scheme.
To anyone knowledgeable about the real facts, Barry's recent diatribe on the issue is filled with blatant Lies and Misrepresentation.
The matter is too involved to be properly addressed in this forum, and I must get back to work in order to be in a position to respond to even greater Sanctioned Extortion!
Posted by Spectator on 03/08/12 01:33 PM
Thanks for the "Syrian Girl" link. She is very smart and mesmerizingly attractive!
Posted by taleenH on 10/23/12 02:39 AM
Since the five biggest mortgage lenders in the nation issued the mortgage settlement, little has been done in the way of mortgage relief by the states. It is said that the State governments have received $2.5 billion in the mortgage settlement and less than half that is going to anything linked to housing or mortgages. Thus,
[a href="Click to view link"]
mortgage settlement used on little mortgage-related[/a] estimates may vary but still looks bad.