Tuesday, October 12, 2010

Are the Journalists Just Ignorant?

With all the news about the foreclosure mess anyone who actually knows anything about it has to be asking themselves why the media seems so surprised?

I keep seeing articles, blog posts and even tweets from the supposedly-informed reporters who are either incompetent to actually write about a subject or are simply in such a hurry to get the next word out that they don't want to take the time to do anything but sort-of-copy someone else in the feeding frenzy.

An even cursory look into the scams would reveal the major players like Fidelity and DocX and that, of course, would lead to how far back they've been doing the exact same thing.

If a REAL journalistic investigation were to keep digging (and there is still hope they will not be driven off by He Who Has the Gold) they'd find there are people now being set up to take the fall for the major corporate entities and foreclosure mills that designed, colluded, conspired and perpetrated the giant garbage disposal operation for the lending industry.

Any writer that asserts this is some kind of new thing simply demonstrates how the news media players have been much like the lap-dogs at the FTC; as long as "those people" (you know, the ones with supposedly damaged credit or that can't afford their homes or that made bad choices, etc., etc., or that were minorities), letting the industry break the law and take advantage of "them" was OK.

And instead of holding the criminal investigative agencies' feet to the fire and not letting them sweep the scam under the rug, the reporters are content to interview business executives who see all kinds of gloom-and-doom for the economy if the fraudsters are actually penalized.

He Who Has the Gold is obviously making the rules for the coverage of the story and their partners in these crimes, the foreclosure mills, are so above the law they're not even worried.

Any bets on whether there will be disciplinary actions taken against the foreclosure mills? Don't count on it; that would jeopardize too many foreclosure opportunities and only open more doors to challenges from their victims.

The Honorable Judge Roy Bean

Saturday, October 09, 2010

Get Ready for a Legislative Rescue for Foreclosure Perpetrators

He who has the gold is not going to sit idly by after their last-gasp (and only recently failed) attempt to thwart the ability to foreclose without regard to standing.

There are probably millions of people out there who have been energized by the false hope that because their homes were (from a purely legal process standpoint) stolen from them they might somehow be entitled to redress.

The reality of life is they're still screwed.

The justice system doesn't work that way, as perverse as it might seem to the victims. Courts don't go back and fix the damage they allowed to happen.

The victims have no recourse against the court system. All they can do is file suit against the perpetrators of the fraudulent foreclosure if they even still exist. That takes money; lots and lots of money.

Do you see the pattern repeating here - perpetrators of a perfectly-conceived scam not having to worry because victims don't have the resources to go after them even after it's proven to be a scam?

We have what we have because we keep re-electing the people who are content to watch it happen and they're going to let the squaliformes prevail yet again.

The Honorable Judge Roy Bean.

Thursday, October 07, 2010

AG's Leap Into Action! LOL!

If you ever want to see politics at work, just monitor what the various AG's around the country leap into when there's an opportunity to make it look like they're standing watch to protect the citizens of their state.

For over a decade now, the mortgage industry has taken advantage of their relentlessly effective garbage disposal (foreclosure mills) to hide their culpability in shedding themselves of those nasty sub-prime mortgages that they were more than happy to originate but don't want to have to answer for.

Even with tens and even hundreds of millions of dollars worth of judgments and settlements, the Squaliformes were still making so much money that they just couldn't help themselves and had to keep on feeding the foreclosure machine rather than modify loans and keep people in homes.

The dirty "secrets" (which were never really a secret among victims or a handful of determined counsel who would challenge the system) are the convenient "affidavit of lost note" documents that courts were more than happy to accept because the law firms tossing them into the garbage disposal supposedly had a signature and a notary's seal on them.

Now, of course in hindsight, a bunch of people who have been asleep at the switch for so long are supposedly aghast that such things have been going on for years.

Hmmm . . . could it be there's an election just 'round the corner?

If you want to see a political animal at work just look at the Attorney General in any given state.

Imagine having a job that only requires you to do something if some awful thing finally reaches a catastrophic level; one that gives you the opportunity to step in and take advantage of so that you can appear effective and advance your opportunity to higher office.

What a great job! How can you lose?

And the media is thrilled to see them in action! AG does this, AG does that. AG takes perpetrator to task, gets a few million here and there . . . oh, but wait - perpetrator admits no wrongdoing and is still in business.

In other words, the perpetrators of crimes against the citizens of states do little more than pay a pittance for what they did and the AG gets the publicity for the upcoming campaign.

Ain't it just grand?

The Honorable Judge Roy Bean