Title Law goes back over 5000 years and is literally the foundation of Law and the concept of Property and Ownership itself. It’s highly ironic that Banksters and their excuse making apologists are so willing to dispense with it, otherwise how do you assert any privilege over those Communist Occupier types?
I mean, if anyone can forge a scrap of paper and foreclose on you…
Robosigning = Smoking Gun
By: Cynthia Kouril, Firedog Lake
Tuesday January 31, 2012 9:53 am
There are a few voices emerging suggesting that the current iteration of the %) AG settlement is somehow wonderful, or at least OK, because it only immunizes robosigning. “Only”, as if robosigning was some benign peccadillo, instead of a massive conspiracy to commit forgery and perjury that is systematically driving our population into homelessness AND continuing to drive down the value of our homes.
Peter Henning writing for NYTimes Dealbook thinks… that most of the bad guys will get off for lack of evidence.
(T)here certainly is a smoking gun, thousands of them, actually. They are the robo signed documents forged after the fact to try to create the false impression that the mortgages and notes were transferred to MERS and into REMICs in a timely fashion. Add to that the formation documents for MERS and the Pooling and Servicing agreements for the REMICs and you have a case that is VERY easy for a judge and jury to understand.
Even the normally laser visioned Matt Taibbi doesn’t get it. He thinks that robosigning immunization will only hurt the homeowners trying to stave off foreclosure from an entity that has no standing to foreclose, as if that wasn’t enough all by itself.
What both Henning and Taibbi are missing is that the easiest way for the pension funds and the hedge funds to win in court is to have a narrative that the jury can understand. Critical to that narrative is that the robosigned documents are of no legal effect; just like a forged dollar bill is of no legal effect and has no value once you realize that it’s counterfeit.
If this horrendous settlement is allowed to go through and sprinkle magic pixie dust on these forgeries and perjuries and by some alchemy that eludes me turn them into documents that can be used to “prove” what’s contained in them (thereby turning everything I ever knew about the rules of evidence inside out) then the pension funds and other purchasers of MBS will not be able to prove the truth, namely, that the REMICs they bought were empty or largely empty and that they are entitle to rescind that purchase.
If robosigning is immunized you screw millions of homeowners, but you also screw the very banks and hedge funds and pension plans that the 1% are so interested in protecting.
The deal sabotages everything because the robosigning is the smoking gun. No one resorts to creating fabricated documents unless they are desperate and know they have no other hope of winning. It’s the legal strategy equivalent of a Hail Mary Pass. Had the robosigning never been exposed, they might have gotten away with winning through perjury, but now that it is exposed, the idea of immunizing it is preposterous.
Each and every robo signed document is a crime. A FORGERY! There is no need to investigate, the document is right there in front of you.
Any Sort of Robo Signing Immunity Is a National Tragedy
By: Cynthia Kouril, Firedog Lake
Tuesday January 31, 2012 3:21 am
I am a HUGE fan of Matt Taibbi’s. HUGE. So it pains me to write this:
WTF is he calling giving a pass to massive -and easy to prove- fraud like robosiging a/k/a FORGERY, a “Victory” for the public? I think the man has lost his mind.
Look, the securitization frauds are important, no doubt about it. However, the entities harmed by the securitizations, other banks, big pension funds, etc. all have armies of very competent lawyers to protect them in civil suits. In contrast, homeowners trying to stop a bank that doesn’t even have the paper work to show it has a right to throw them out of their houses have very few resources with which to fight. They also often face state court judges who are disinclined to believe the homeowners. Without both civil AND CRIMINAL cases proving the robo signing, they will continue to be swindled out of their homes.
It’s not like robo signing is a thing of the past, it’s still going on. I’ve seen examples of robo signing executed within the last few months. The document mills have not closed down; what do you think all those people do all day long?
If Schneiderman signs on to this then the question of who rolled whom with this second mortgage task force is answered and all Americans will know that the last roadblock to banksters getting away with the biggest heist in history has been removed. We will also know that foreclosures will take off at breakneck speed and more homeowners than you can imagine, and their children, will be homeless.
That’s not my idea of a victory for anyone, except the 1%. No, Matt, immunity for robosigning will be a Tragedy For The Public.
Not even for the 1% Cynthia. That’s my Rolex motherfucker. Hand it over.