TYT: Obama Plan Helps Bank Fraud at Taxpayer Expense

[The Northerner]

Run time: 04:42 https://www.youtube.com/watch?v=P6wyLCHUQyQ   Posted on YouTube: October 25, 2011 By YouTube Member: TheYoungTurks Views on YouTube: 5686   Posted on DU: October 25, 2011 By DU Member: The Northerner Views on DU: 934

 
A new proposal by the Obama Administration is supposed to help homeowners facing foreclosure but The Young Turks host Cenk Uygur shares the dirty details. Read more here: http://www.huffingtonpost.com/2011/10/24/foreclosure-plan-obama-harp-refinancing_n_1028554.html

[sabrina 1]

1. After the Mass. ruling last week, if that happens in other states

US Attorneys will no option but to investigate the Mortgage crimes. The risk in buying homes in Foreclosure now became a reality, at least in Mass. All Mass homes foreclosed on over the past five years, have been ruled by the Mass court to have been illegal.

This mess cannot be covered up. There are far too many victims and still some judges and US Attorneys willing to do what is right for the people.

Any help to homeowners would have to include establishing actual ownership of the mortgage note. Unless it's all going to be covered up.

[russspeakeasy]

2. "This mess cannot be covered up" I hope you are right,

but if history is any indicator, this administration will do what they are told to do by "big money/big donors".

[sabrina 1]

3. Maybe I am just being optimistic, but that ruling was a stunning

blow to the criminals. Now if other judges have the courage to do the same thing, then there is hope of some accountability. There are several huge civil cases going on, in NY and the Florida Civil suit revealed a lot of the corruption and criminal activity that led to the Mortgage crisis. I believe there is one in Kentucky also.

None of this has helped with any cover-up as there is now court documented evidence of actual criminal activity which hopefully will lead to criminal investigations.

I realize how powerful they are, having Congress in their pockets etc. But too many people were hurt by this massive crime and it is proving to be more difficult than it used to be, to protect the criminals. But, I am probably being overly optimistic and I am aware of the ridiculous civil fines etc. meant to alleviate the anger of the people. So far, they have not, if anything they probably contributed to the OWS movement as people realized they could no longer depend on their government to what is right.

[nineteen50]

4. Any

Debt that is a result of fraud should be dismissed!

[sabrina 1]

5. Yes it should. And that is why the judge ruled against

foreclosures where the fraud has been the most evident. They destroyed original mortgage notes eg according to many of the cases that have made it to courts. They forged and rubber-stamped foreclosures that never should have happened.

In a few cases, judges gave the intended foreclosed-on homes to the homeowners, free and clear BECAUSE they regarded the fraud involved in the foreclosures to be worse than the struggle of a homeowner to pay their mortgage paymens.

You are right, that would be the moral thing to do. And in a few remote cases, that has happened.

[pam4water]

6. :(