“Fake news” is now the dominant form of spreading disinformation in our marketplace. The banks are in control of media outlets — some created by the banks — that keep spewing out false data about the foreclosure crisis being over. It isn’t true. It never was true. We still have millions more to go and that doesn’t include the new “delinquencies” that will hit the shores as the race continues to move money through false claims of securitization.
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While most of the banking sector is claiming that the mortgage mess is over, the data shows that we (a) never hit any bottom and (b) that foreclosures are beginning to spike again.
The threat to the economy and market indices is a clear and present danger to our national economy and to the geographical areas that have yet to be decimated by declarations of default, foreclosure filings by strangers, and the wholesale sweep of once vibrant neighborhoods.
As we have seen many times in our history, Wall Street is one big selling machine. And the players on Wall Street will continue to sell anything that they convince others to buy regardless of quality and certainly regardless of social cost. Despite the lessons that could have been learned from the 2008 crash, the banks continue to retain ill-gotten gains siphoned out of the American economy and continue to pursue more ill-gotten gains.
The goal was and continues to be foreclosure because once the foreclosure judgment is signed there is a presumption of validity to everything that preceded the foreclosure judgment or sale. In fact, though, in nearly all cases where the “owner” is portrayed as a REMIC Trust, the trust was never used in any capacity except for invoking the name of the trust, whether it existed or not and whether or not the trust ever had any business or assets. The trust was cover for global theft. Read more