mick silver
24th October 2010, 03:31 AM
How the second greatest financial fraud in history might end!
by David Chu
“I was quite shocked at what I had learned in the course of making the film [INSIDE
JOB]. Quite shocked. . . . The first [thing that surprised me the most] was how low
Wall Street had sunk with regard to its ethics. When I started making the film if
somebody had told me that Goldman Sachs and other investment banks had been
designing securities to fail so that they can profit by betting against them, I wouldnʼt
have believed it. I would have said, “No, you know, people donʼt do that in the United
States.” But in fact they did [exactly that] with tens of billions of dollars of securities.”
~ Charles Ferguson, Director of “INSIDE JOB”
The avalanche of foreclosure fraud or Fraudclosure [1] is now flooding the lamestream media.
If you havenʼt heard that Fraudclosure has metastasized into the latest financial armageddon
for Wall Street, then you are missing out on some very important news! On the other hand, if
the numerous discussions by bloggers and columnists on the cast of shady and not-so-shady
characters like Mortgage Electronic Registration System (MERS), Mortgage Backed
Securities (MBS), Collateralized Debt Obligations (CDO), class action lawsuits, 50 state
attorney generals, foreclosure mills, robo-signers, rocket dockets, clawbacks, etc. are a bit too
much for you to digest, then what you are about to read might be refreshing, well at least to
ponder. [2-6]
If you had read my book, NO FORECLOSURES!, which was published in August 2008,
especially from pages 95 through 109, you would have had a front-row seat to this
Fraudclosure debacle many months before it hit the lamestream media. And if you had
followed the “Five Cardinal Lessons from the Titanic,” you may be in a better position now to
personally benefit from this Fraudclosure.
In any case, letʼs cut through all the rubbish and talk about whatʼs really important (and fun to
speculate): the END RUN. [7]
The End Run
The $64 billion question that everyone is asking or should be asking is this: “How will
Fraudclosure end?” Or, a better question yet, “Will it ever end?” I am going to try to answer
the first question and leave the latter to your imagination or consternation, whichever the case
may be for you!
There are, of course, several possible scenarios as to how this catastrophic foreclosure fraud
could be brought to an end, or at least out of the public limelight. The U.S. Congress could
pass a law that would legalize all financial fraud involved in Fraudclosure, and, more
importantly, make it retroactively so that their partners on Wall Street and Main Street would
be legally protected in its totality. [8]
But because foreclosures are handled under the jurisdiction of individual states, i.e., individual
state law governs foreclosures and their legal proceedings, such a massive federal intrusion
- 1
by David Chu
“I was quite shocked at what I had learned in the course of making the film [INSIDE
JOB]. Quite shocked. . . . The first [thing that surprised me the most] was how low
Wall Street had sunk with regard to its ethics. When I started making the film if
somebody had told me that Goldman Sachs and other investment banks had been
designing securities to fail so that they can profit by betting against them, I wouldnʼt
have believed it. I would have said, “No, you know, people donʼt do that in the United
States.” But in fact they did [exactly that] with tens of billions of dollars of securities.”
~ Charles Ferguson, Director of “INSIDE JOB”
The avalanche of foreclosure fraud or Fraudclosure [1] is now flooding the lamestream media.
If you havenʼt heard that Fraudclosure has metastasized into the latest financial armageddon
for Wall Street, then you are missing out on some very important news! On the other hand, if
the numerous discussions by bloggers and columnists on the cast of shady and not-so-shady
characters like Mortgage Electronic Registration System (MERS), Mortgage Backed
Securities (MBS), Collateralized Debt Obligations (CDO), class action lawsuits, 50 state
attorney generals, foreclosure mills, robo-signers, rocket dockets, clawbacks, etc. are a bit too
much for you to digest, then what you are about to read might be refreshing, well at least to
ponder. [2-6]
If you had read my book, NO FORECLOSURES!, which was published in August 2008,
especially from pages 95 through 109, you would have had a front-row seat to this
Fraudclosure debacle many months before it hit the lamestream media. And if you had
followed the “Five Cardinal Lessons from the Titanic,” you may be in a better position now to
personally benefit from this Fraudclosure.
In any case, letʼs cut through all the rubbish and talk about whatʼs really important (and fun to
speculate): the END RUN. [7]
The End Run
The $64 billion question that everyone is asking or should be asking is this: “How will
Fraudclosure end?” Or, a better question yet, “Will it ever end?” I am going to try to answer
the first question and leave the latter to your imagination or consternation, whichever the case
may be for you!
There are, of course, several possible scenarios as to how this catastrophic foreclosure fraud
could be brought to an end, or at least out of the public limelight. The U.S. Congress could
pass a law that would legalize all financial fraud involved in Fraudclosure, and, more
importantly, make it retroactively so that their partners on Wall Street and Main Street would
be legally protected in its totality. [8]
But because foreclosures are handled under the jurisdiction of individual states, i.e., individual
state law governs foreclosures and their legal proceedings, such a massive federal intrusion
- 1