EU wants bondholders to share bank bailout costs
By: UKSecrets
Tags: ECONOMY EUROPE
http://news.yahoo.com/s/ap/20110106/ap_on_bi_ge/eu_eu_bank_bailouts%3B...
BRUSSELS – The European Union is moving ahead with plans to shield taxpayers from having to bail out big banks in the future, but there are substantial obstacles to making bondholders share losses.
The EU's executive Commission on Thursday presented plans that could give national regulators the power to force the owners of bank bonds to accept so-called haircuts — a reduction in the amount of money they are owed.
Foreclosure-fraud class action lawsuits are starting to pile up against major banks across the country, threatening a besieged industry with billions more in potential losses.
http://ftalphaville.ft.com/blog/2011/01/07/452081/a-court-case-to-challenge-securitisation-standards/
Webmaster's Commentary:
Actually, about $16 trillion divided equally among Americans, and the return of all those stolen homes, might just return us all to status quo anti.
Anything less, it;s time for the tar and feathers. I have had enough of this "we'll steal a dollar and give you back a dime/if you forgive us" crap!
BANKERS GONE WILD - HOW THE US GOVERNMENT HELPED WALL STREET
GANG-RAPE AMERICA'S MIDDLE CLASS
http://whatreallyhappened.com/WRHARTICLES/wildbankers.php
The mortgage bundlers had stuck key financial institutions with fraudulent mortgage-backed securities, and Congress voted to loot the public to purchase the useless paper and hide it from public scrutiny. Why? Because the members of the US Congress had their own fortunes invested in those fraudulent mortgage-backed securities.
This is why, even though the public opposed TARP, members of Congress were so happy when the bill finally was forced through the Congress.
WALL STREET'S MORTGAGE-BACKED SECURITY FRAUD
DESTROYED BOTH THE US AND EU ECONOMIES!
As cash left the nations financial system to cover the repurchase of the fraudulent mortgage backed securities, banks found their balance sheets slipping into the red.
The banks were being driven into insolvency making good on the bad paper and this is what triggered the epidemic of fraudulent foreclosures. Banks needed real assets on their balance sheets as quickly as they could to get their balance in the black and their banks out of insolvency.
http://whatreallyhappened.com/es/content/ever-wonder-why-european-banks-were-so-angry-us-something-about-not-making-good-some-toxic-g
So shortcuts were taken which became known as "foreclosuregate".
US Bancorp and Wells Fargo & Co. lost a foreclosure case in Massachusetts’s highest court that will guide lower courts in that state and may influence others in the clash between bank practices and state real estate law. The ruling drove down bank stocks.
The state Supreme Judicial Court today upheld a judge’s decision saying two foreclosures were invalid because the banks didn’t prove they owned the mortgages, which he said were improperly transferred into two mortgage-backed trusts.
“We agree with the judge that the plaintiffs, who were not the original mortgagees, failed to make the required showing that they were the holders of the mortgages at the time of foreclosure,” Justice Ralph D. Gants wrote.
Anatomy of Foreclosure Fraud
Awesome slideshow presentation - Takes 2 Minutes
You will see several examples of ACTUAL fraudulent documents that were submitted by large, well known banks in court proceedings.
We're talking crazy-ass, over the top, ridiculous fraud here -
Fake people, fake signers, fake documents, false notaries,
fake affidavits and EVEN fake banks...
STOP - DO NOT SKIP THIS ONE - CHECK OUT THESE PICS
http://dailybail.com/slideshows/foreclousre-fraud-documents/8167464
U.S. Bank Completes Acquisition of Securitization Trust
Administration Business..from Bank of America, N.A.
http://phx.corporate-ir.net/phoenix.zhtml?c=117565&p=irol-newsArticle&ID=1512648&highlight
U.S. Bancorp (NYSE: USB) announced today that its lead bank, U.S. Bank National Association, has completed the acquisition of the domestic and European-based securitization trust administration businesses of Bank of America, N.A. The transaction closed on December 30, 2010.
Webmaster's Commentary:
Looks like BofA dumped the whole securitization mess on US Bankcorp just before the Massachusetts Supreme Court dropped the bomb on the fraudulent mortgages!
And JUST in time to distract the corporate media from today's Massachusetts Supreme Court Decision invalidating all foreclosures whose mortgages were sold into mortgage-backed securities!
A piece of mail ignited Friday at a U.S. Postal Service distribution center in Washington, a day after several suspicious letters "flared up" at state government buildings in Maryland, authorities said.
Police said no one was injured.
aint it all just too predictable..?
Caught By MISTAKE
In Web Of Foreclosure
http://dailybail.com/home/caught-by-mistake-in-web-of-foreclosure.html
Tags: CURRENT EVENTS DICTATORSHIP ECONOMY VIDEO
Christopher Marconi was in the shower when he heard a loud banging on his door. By the time he grabbed a towel and hustled to his front step, a U.S. marshal's sedan was peeling out of his driveway. Nailed to Marconi's front door was a foreclosure summons from Wells Fargo, naming him as a defendant. But the notice was for a house Marconi had never seen — on a mortgage he never had.
Tom Williams was in his kitchen thumbing through the mail when he opened a letter from GMAC. It informed him that the bank would confiscate his house unless he immediately paid off his mortgage balance of $276,000. But Williams had never missed a mortgage payment. And his loan wasn't due to mature until 2032.
And we're just getting started...
Robo-Signing Is Child's Play Compared To This -
http://www.youtube.com/watch?v=t7qTBkA8X_E&feature=player_embedded
Bank Of America Allegedly LYING To State & Federal Courts
About Fraudulent Foreclosures In Kentucky
http://dailybail.com/home/robo-signing-is-childs-play-compared-to-this-bank-of-america.html
This sort of abuse
http://dailybail.com/home/lenders-selling-foreclosed-homes-without-obtaining-title.html
is far more serious than robo signing.
The steps undertaken here look to be a deliberate, concerted effort for the bank to get its way, the law be damned.
This means the odds are awfully high that Bank of America committed MULTIPLE frauds on the court, first on the state court in the foreclosures process, and now on the Federal bankruptcy court.
Details are inside...
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