As an attorney who defends consumers in mortgage foreclosure cases and who is helping consumers with mortgage modifications, I sometimes hear opponents or other parties argue that the people who ar in foreclosure should just be thrown out of their homes…who cares about any other issues about what the banks did wrong. One consumer who gets the problem and is doing something about it is Paul Muckle, who filed a federal lawsuit, Muckle v. USA. In this lawsuit, he sues Bush, Obama, Geithner, Paulson and the governors of all fifty states….but more on that later.
Widespread and Systemic Fraud
Problem is the individual foreclosures are just the tip of the iceberg. The real issue is the systemic fraud that went from the top to the bottom of the entire world economic system. Banks, mortgage companies, Wall Street, Washington DC and world financial centers all conspired to take billions of dollars in shift it from the general population and concentrate those billions in the hands of a few. If the initial fraud and scheme wasn’t bad enough, the bailout and billions that are being poured right back into the system represent a second bajillion dollar heist.
It’s difficult to explain the intricacies of such a wide ranging systemic fraud, but here are the basics.
1.Mortgage brokers begin the fraud when they concocted information about income/assets and value of property on the individual loan applications. (Brokers pocket thousands on the individual loans.)
2. Mortgage lenders pool thousands of the fraudulent loans into packages then sell them to brokers on Wall Street. (Lenders pocket millions on the packages.)
3. Wall Street brokers sell the packages of mortgage loans to retirement funds and investment groups around the world. (Brokers pocket billions on the packages.)
4. The investors who purchased the packages discover the pools of loans are fraudulent. (Investors demand millions in refunds and some are made whole with US taxpayer dollars.)
5. The institutions and individuals that started and perpetuated the fraud are paid millions (billions?) allegedly to help correct the problems they created. (They shove millions in their pockets.)
MUCKLE V. USA
The link that appears here will take you to a 106 lawsuit that a private consumer filed that lays out in painstaking detail exactly how the fraud worked and explains a bit of the long term consequences. It also makes a compelling argument against the continued pursuit of foreclosures that are part of the problems as explained above. Give it a read, then contact me if you have any questions.
It is an honor to be featured by so great of an attorney who is spending his time helping the less unfortunate who got caught off guard in this great financial armageddon America is facing.
Thank you Mr Weidner.
sincerely,
Paul L. Muckle
Great to hear from you and thank you. I really do admire your piece of work….there is a lot of really good stuff in it. It’s going to get bounced, but you’ll raise some important issues along the way. I have shared it with a group of hundreds of foreclosure defense attorneys in Florida and am getting some good feedback. Your case is even more compelling in light of the obscene profits Wall Street is reporting and tying that together with what you allege in your lawsuit really drives the points home.
I want to talk more with you and write more about the suit…..I view your lawsuit as a rough and tumble outline of what good lawyers are coming around to across the country….you’re like the Paul Revere of the Coming Collapse!
Paul Revere! Perfect!
Just wait…there’s much more to come!
Paul’s work is indeed a masterpiece.
What comes next has the potential to have a very wide ranging impact.
Notwithstanding, it’s mostly legally incorrect.
I agree wholeheartedly. The technical legal stuff is all wrong, but the conceptual expresses a sentiment that we are all developing. Any comments, articles or insight you would like to submit, please forward and I will tag and attribute to you. My site is in top 60,0000 in US and good articles help your exposure and my continued rankings!
Actually, I do not expect the case to get bounced at all. Judge Woodlock is a very reasonable judge. He has helped me in ways that, technically, he should not have. This case was filed on April 23, 2009; I spoke to his clerk a few days ago to find out the status of the case. The clerk informed me that the judge has appointed a panel to look into the matter and report back to him. He said they are expecting something back soon. The are taking my threats very seriously; If they do not take the people seriously, we will flood the system with suits and cripple it.
Mr Weidner, I think you are looking at this case from a legal point of view, when you said the technical stuff is all wrong. What’s going on in America is no ordinary matter, people are actually suffering. Therefore, it is moral and ethics that will win the argument, not legal wranglings. This is a people’s suit therefore, if this judge ever let us get a verbal hearing, I already know him enough to know I can get through to him.
This guy has hit the nail on the head! Amazing what insight this uneducated consumer can have. He is not only Paul Revere but probably Robin Hood! Keep up the good work Mr. Muckle. Maybe Attorney Weidner will champion your case and correct the legal underpinnings!! Good luck in your battle with Goliath.!!
YES, I do wholeheartedly agree that Mr. Muckle is the Paul Revere of our day.
It has been a hard road for me personally to get to HERE. I attribute a large portion of my enlightenment to my Brother.
Ace