I love Mandelman. He’s the Hunter S. Thompson of the whole Fraudclosure thing. And I love it when he (and other writers) pull back posts from the way, way long ago bin and republish them….re-posts offer a disgusting retrospective on where we are today…and show us just how bad things are.
I remember back to 2009…like many others I had hope and dreams and ideas about how to move things along. But here we are like, I don’t know ten years later and it’s deja vu all over again. Another gubment program, another failed shot at doing anything and continued stories of corporate fraud and corruption…all on the backs of the American people.
The paramilitary forces are out in the streets and the First Amendment, along with the entire Constitution fades into the background….some distant memory of what this country once was. Kids are being shot at and violently attacked by these poorly-trained paramilitary forces but the great mass of people stand fixated, too drug addled and paralyzed to do anything.
And leadership is a concept that has been removed from our lexicon, replaced with a homo(sub)genius groupthink…..the White Collar Criminal Oligarchy has programed the bots, desensitized the minions to the point where their neighbors humanity is just as disposable as that thing called The Constitution, the last copy of which was recently thrown into the woodchipper. (Such an interference that whole Constitution thing was anyway what with all that blathering on about FREE SPEECH and DUE PROCESS and SEARCH and SEIZURE) Anywhoo, the document is gone now and they’re moving quickly to move all trace of those words and concepts from our lexicon and thought process……
But now for Mandelman….
Okay, first of all”¦ you’re not buying any of this ” the recession has ended” nonsense, are you? Because if you’re one of ” them,” then I’m really not sure there’s a whole lot I can say to you except maybe”¦ well, no”¦ actually there’s nothing I can say to you that you’ll find interesting. Just go back to trading your stock portfolio, buying REOs, and loading up on Citigroup, or whatever it is that you guys do these days.
To everyone else”¦ I have a question: At this stage of the foreclosure crisis, is there any doubt that we need some sort of lender and mortgage servicer reform? I’m only asking because it’s hard for me to imagine that there’s anyone, at this stage of what’s definitely not a game, that wouldn’t readily agree, the American Bankers and Mortgage Bankers Associations, Financial Services Roundtable, and American Securitization Forum, et al, notwithstanding.
In point of fact, I don’t think there can be any doubt that lenders and mortgage servicers in this country are working solely in their own best interests, and it should be just as clear that those interests are not aligned with the interests of anyone else; not the investors they’re supposed to protect, not the borrowers whose lives have been torn apart but will someday recover, and certainly not our nation as a whole. The Obama administration has tried to address this situation, but to be entirely candid, their efforts to-date have been limited to a voluntary program, offering what many would describe as meager financial incentives, some stern language and a few public relations efforts. And let’s not dress this thing up”¦ it’s not working.
In August, the administration made public the servicer ” report cards,” the thinking being that the servicers would be publicly shamed into improving their performance relative to their peers, and were the servicing industry capable of shame, or in other words, if the servicers gave a hoot what regular people thought of them, it might have been effective to some degree.