Department of Justice

ForeclosureGate Deal - The Mandatory Cover Up

Michael Collins
wsholiday1.png

The Federal government is about to settle the ForeclosureGate affair, according to a report in the New York Times on April 9. The Times noted that twelve million homes will be lost by 2012. Home equity values are down by $5.6 trillion since the real estate crash.

The draft agreement released to American Banker shows another corporate-friendly deal designed to maintain the incumbent perpetrators at the expense of the people. (Image: zoonabar)

The proposed settlement culminates an effort by federal prosecutors to address strongly supported allegations of widespread mortgage fraud perpetrated on as many as sixty percent of current mortgage holders. Homeowners were sold mortgages, serviced for the loans, and, in some cases, subjected to foreclosure and eviction based on fictional contracts and collections practices that violate the most basic principles of contract law and specific federal code pertaining to fraudulent debt collection.

The Road to Predatory Capitalism

We have repeatedly heard over the past decade how “things just happened.”

How “…nobody could have foreseen that.”

Or, how everything came about due to “..unintended consequences.”

Conscious actions have intended consequences.

While at the same time we have repeatedly witnessed how the major perpetrators, culprits and predators go unscathed, facing no consequences for the abominations against the public.

In fact, we have observed them to be unjustly rewarded again and again and again.

Then there are those of us who must hustle endlessly for the next month’s mortgage payment, or rent due, or the next meal, are constantly chided with the admonition that “…we must innovate our way out of this!”

We, Kimosabe????

“We” have innovated endlessly, only to find ourselves bereft of employment while the technology we developed has been transferred, along with our jobs, offshore!