Earlier this week I reported on a series of emails that detailed how Wall Street Fat Cats were licking their sticky fingers as the US and in fact world economies were on the brink of collapse. Now newspapers are reporting what myself and others have been saying for many, many months….
THE WALL STREET FAT CATS, ALONG WITH AN INEPT OR UNWILLING REGULATORY AGENCIES, ORCHESTRATED THE COLLAPSE OF THE US HOUSING MARKET AND WORLD ECONOMY AND MADE BILLIONS AS A RESULT.
Next, because they were deemed “Too big to fail”, you and I stepped in and provided the architects of the financial foolishness with bajillion dollar bailouts…under current tax and federal policies, we will continue to pay bajillions of dollars and tax and other benefits for years to come.
I AGAIN ASK, WHY ARE OUR CIRCUIT COURT JUDGES UNMOVED BY ALL THIS?
WHY DO THEY CONTINUE TO GRANT FORECLOSURE TO PARTIES THAT HAVE ENGAGED IN IMPROPER CONDUCT?
GIVEN THE GROWING KNOWLEDGE OF THE IMPROPER PRACTICE OF LENDERS, LAW FIRMS AND ALL PARTIES INVOLVED…WHY WON’T JUDGES JUST TAKE A DEEP BREATH AND STOP GRANTING FORECLOSURES UNTIL WE CAN SORT ALL THIS OUT?
Now newspapers are beginning to report on a law review article I first published months ago which points out the real problems caused by MERS in the system….here is one of the first, but many more newspapers and outlets will pick this article up.
“This is one of the buried, yet-to-emerge bombs in the whole mortgage crisis,” said Christopher Peterson, a University of Utah law professor and author of the first scholarly analysis of MERS and its underpinnings, to be published this spring in the University of Cincinnati Law Review . “This has the potential to fundamentally affect the trajectory of our recovery.”
‘A tax evasion broker’ » MERS officials vigorously disagree, but Peterson contends the MERS system has violated a deep-seated principle of American law — transparency in land-ownership transactions — by effectively removing much of that information from the public record. In so doing, Peterson says, MERS also has served as “a tax evasion broker,” denying counties millions of dollars in recording fees — revenue that might otherwise have funded essential public services. And now, by allowing actual lenders to pursue foreclosures under MERS’ name instead of their own, Peterson says the company is acting as a “foreclosure doppelganger.”
The full text of the article ( lawreview ) can be found here in this post. Read it now so you know what news media is talking about later.
THE QUESTION I ASK IS….WHY ARE OUR LEADERS FROM ACROSS THE COUNTRY ALLOWING BIG BUSINESSES TO AVOID BAJILLIONS OF DOLLARS IN TAX REVENUE?
