Peaceful protest against the banksters

[MDK]

The banks are broke... take any money you have out of the banks, they give you nothing for it, yet they lend it out at loan shark rates.

 

That is the first step of the protest... if you can.... do it...

The governments cannot guarantee the money in the banks, it is all a complete con because they haven't got enough money anyway... look at what I have said about IMF

Stop this madness, they are bailed out banksters and bankrupting the ordinary person and their grandchildren.

It has to stop

 

I will get a template letter for people to send to their MP

message me what you would like to include in it...

[MDK]

Banks protesters and Irish parliament

Protesters have marched against government plans to inject billions of euros into the country's banks.

 

 

Come on the French, you are very good at this.

 

UK? Let's at least organise some sort of peaceful protest??? Stop letting the banksters rip you off and making your life miserable

Edited May 11, 2010 by MDK

[MDK]

In response to the bankers and governments’ global rape, pillaging and plundering of people’s assets and freedoms, we are starting a series of essays that we call “The Liberation Essays” in an attempt to educate the masses about the true nature of the global financial system. We will continue to write our essays until we feel we have achieved our goal of education and eventually liberation from the racketeering firms that call themselves Wall Street and Central Banks.

In honor, courage and liberty,

Solon, Lindbergh, and Don Killimunati

 

Essay No. 1: All Fraudulent Roads Lead Back to the World’s Central Banks

 

The Liberation Essays, No. 1 | zero hedge

[MDK]

How To Brainwash A Nation

 

This amazing interview was done back in 1985 with a former KGB agent who was trained in subversion techniques. He explains the 4 basic steps to socially engineering entire generations into thinking and behaving the way those in power want them to

[MDK]

http://www.zerohedge.com/article/china-proudly-demolishing-buildings-completed-pursuit-great-housing-bubble-perpetual-engine

China: Proudly Demolishing Buildings Before Completed In Pursuit Of The Great Housing Bubble Perpetual Engine

[MDK]

Now THAT Is Protest

Gotta chuckle....

A 41-year-old man has been arrested after a concrete mixer truck was driven into the gates of Leinster House.

The words 'Anglo Toxic Bank' were displayed on the drum of the truck and a billboard on the back of the truck said 'all politicians should be sacked'.

Sacked as in fired, or sacked as in "thrown in the sack, which is then disposed of?"

One wonders, given that the person involved was willing to get arrested expressing his opinion....

http://market-ticker.org/akcs-www?post=167786

[MDK]

‘Robo-signer’ controversy spreads

 

J.P. Morgan’s Chase unit stops some foreclosures to review process

 

 

 

 

Banks JPMorgan Chase & Co

 

 

 

By Alistair Barr, MarketWatch

SAN FRANCISCO (MarketWatch) — Controversy about so-called “robo-signers” in the foreclosure process, during which staffers sign thousands of mortgage-related documents a month, is spreading across the U.S. banking industry.

On Wednesday, J.P. Morgan Chase & Co. /quotes/comstock/13*!jpm/quotes/nls/jpm (JPM 38.40, -0.01, -0.03%) spokesman Thomas Kelly said that the bank’s Chase unit is stopping some foreclosures to review how employees in its mortgage-foreclosure operations sign affidavits about loan documents.

The news comes about a week after GMAC Mortgage, a unit of Ally Financial, stopped foreclosures in 23 states to deal with a similar problem. Read more about how GMAC Mortgage hits speed bump in foreclosures.

At the center of the controversy are employees of mortgage lenders or servicers who sign affidavits supporting foreclosures that have to be cleared by judges in many states.

 

With so many foreclosures to process, there’s concern that such affidavits are signed without verifying whether loan documents and other records have the correct information. The integrity of the process is a key component in how judges decide that people’s houses can be taken and given back to the bank.

Dustin Zacks, an attorney at Ice Legal PA — a firm based in Royal Palm Beach, Fla., that specializes in foreclosure defense — is representing some homeowners who are trying to stop their houses from being seized through foreclosure.

Zacks said he deposed a Chase document signer called Beth Ann Cottrell who said she and eight others in her department signed about 18,000 foreclosure-related documents a month, including affidavits of indebtedness.

“Our first question was whether she had personal knowledge of the documents she was signing about,” Zacks said in an interview. “Her answer was no. It’s shocking that they would use this as evidence to seize someone’s property.” Read the May 17 deposition of Cottrell.

J.P. Morgan Chase’s Kelly said that in some cases, employees in Chase’s mortgage-foreclosure operations “may have signed affidavits about loan documents on the basis of file reviews done by other personnel — without the signer personally having reviewed those loan files.”

‘Our first question was whether she had personal knowledge of the documents she was signing about. Her answer was no.’

Dustin Zacks, Ice Legal

“As a result, we have begun to systematically re-examine documents we have filed in current foreclosure proceedings to verify that the affidavits and other documents meet the standard of personal knowledge or review where that is required,” he added.

Kelly also said that J.P. Morgan Chase believes the loan information in the affidavits wasn’t affected by “whether or not the signer had personal knowledge of the precise details.”

“The affidavits were prepared by appropriate personnel with knowledge of the relevant facts based on their review of the company’s books and records,” according to the spokesman.

Still, J.P. Morgan Chase is working with outside lawyers to review its affidavit preparation and signature process to confirm that it satisfies all documentary and evidentiary standards. “We have requested that the courts not enter judgments in pending matters until we complete our review,” Kelly commented.

The review should be done in a few weeks and J.P. Morgan will submit updated affidavits to the courts if needed, he said.

Jeffrey Stephan, an employee of GMAC, said in a deposition taken by Ice Legal that he and a team of 13 others signed an estimated 10,000 foreclosure-related documents a month. Read the deposition of Stephan.

Erica Johnson-Seck, an employee of OneWest Bank, estimated in a deposition taken by Ice Legal that she signs about 750 foreclosure-related documents a week. A team of eight people at OneWest sign about 6,000 a week, she said.

Johnson-Seck said she spends about 30 seconds on each document, according to the deposition. Read deposition of Johnson-Seck.

OneWest is a bank that was formed from the remains of IndyMac Bank, which failed during the mortgage crisis.

http://www.marketwatch.com/story/robo-signer-controversy-spreads-2010-09-29?dist=afterbell

 

[MDK]

Senator Franken Sends Letter To Bernanke, Bair And Holder Demanding Criminal Charges For All Responsible For Biggest Alleged Mortgage Fraud In History

 

 

 

The biggest financial story which continues to get absolutely no mention on CNBC just got its latest multi-step escalation: Senator Al Franken has just blasted a letter to Tim Geithner, Shaun Donovan, Secretary of Housing and Urban Development, Eric Holder, John Walsh, Controller of the Currency, Sheila Bair, and, drumroll, Ben Bernanke, telling the recipients that "each of your agencies has an important role to play in addressing this egregious situation and holding all appropriate actors fully accountable. As such, I respectfully request that you collaborate to conduct a thorough investigation into the alleged misconduct. As part of this investigation, it is crucial that Ally and its employees are held fully accountable for any criminal misconduct." Since if this pervasive mortgage fraud is more than just alleged, the stink will reach to the very top of places like JP Morgan, Ally, and possibly every single bank that has been in the mortgage origination business, something tells us that Ben Bernanke, whose job is precisely to protect the banks' interests will not rush into any investigation for the duration of FASB's existence. It gets better: "Additionally, all homeowners who may have experienced illegitimate foreclosure sales, those who have been forced to defend against illegitimate foreclosure actions, and those who have been harmed must be identified. These individuals must received proper restitution and compensation, as provided for under the law." And the punchline: "It is critical to confirm that no loans provided through the FHA or in conjunction with the HAMP program were associated with Ally's misconduct." Yes, oddly enough the government is about to lose even more credibility once it is discovered that it worked in collaboration with the biggest mortgage fraud scheme in history.The letter concludes:

"Concerns have been rasied that Ally's practices are not an anomaly in this industry, and that these bad practices are used by numerous other companies as well. Therefore, I request that you report on the actions your agencies are taking (and plan to take) to improve oversight of mortgage servicers overall. In particular please inform me of steps that you will take to ensure that similar misconduct is not currently occurring within other mortgage service companies and how future improper activity can best be prevented."

full document can be read here:

http://www.zerohedge.com/article/senator-franken-sends-letter-bernanke-bair-and-holder-demanding-criminal-charges-all-respons

[MDK]

Fraud factories... the banksters and the mortgage industry

And what about the UK and the trail over here, with CCA agreements and DCAs! the same thing is going on but until people are made aware they can't fight back...we need to fight back against these fraudsters ripping us off and then demanding that taxes are increased to pay for their losses!!!!!

[MDK]

And just look at this... they want to steal from the people AGAIN!

"More taxpayer support is needed to ensure global financial stability despite the billions already pledged, the International Monetary Fund has warned, as banks remain the “achilles heel” of the economic recovery. "

 

http://www.telegraph.co.uk/finance/economics/8043800/Banks-4-trillion-debts-are-Achilles-heel-of-the-economic-recovery-warns-IMF.html

[MDK]

[video=youtube;9kPCYcBm-C8]

[MDK]

Even President Obama was a victim of robosigners!!!

http://4closurefraud.org/2010/10/10/4closurefraud-exclusive-president-obama-falls-victim-to-chase-robo-signer/

[MDK]

http://www.zerohedge.com/article/gonzalo-lira-mulligan-mortgages%E2%80%94-banks-only-way-out

 

Gonzalo Lira on Mulligan Mortgages—The Banks' Only Way Out

 

 

 

Submitted by Gonzalo Lira

Mulligan Mortgages—The Banks’ Only Way Out

 

“Would you give this man a mulligan?”

Photo by Mark Pain of the Daily Mail. The man with the cigar was an actual bystander.

We’ve seen this movie so many times already, we can practically recite the ending: The Too Big To Fail banks are once again in the middle of another crisis—another mortgage crisis—that’s breaking like a bad rash. And this new scandal has so many moving parts!

 

Robo-signings!—Foreclosure mills!—Forged documents!—Attorneys General huffing and puffing!—Too Big To Fail banks tottering!—Foreclosures suspended!—Bond holders freaking out!—Credit default swaps shooting the moon!—

 

Aaaaaahhhh!!!!! Again.

 

As I explained in a long piece discussing the current Mortgage Mess, all of these different issues are all symptoms of the same disease: The Mortgage Backed Securities—America’s Herpes: The gift that just keeps on oozing.

 

Because of how the MBS’s were structured, there was an inherent ambiguity as to who actually held the mortgage notes. This is crucial, because only the note-holder has standing in court to foreclose and evict a delinquent homeowner. No tickee, no laundry applies doubly to mortgage loans: No notee, no standing.

 

The banks, MERS and everyone else in the sausage factory that created the MBS’s were sloppy and/or greedy, which led to them failing to cross the I’s and dot the T’s. (Did you catch that? Just checking.)

 

They realized this screw-up during the current Global Depression. In order to foreclose and evict the massive number of delinquent homeowners, the banks hired “foreclosure mills”—bottom-feeding law firms that specialized in foreclosures.

 

Since the documentation was either hinky or lost, the foreclosure mills routinely and systematically fabricated and falsified documents: The “robo-signing” scandal is a part of this part of the Mortgage Mess scandal—the thing is as complicated as a Rube Goldberg device on acid. (Yves Smith at naked capitalism has been all over this; the woman should get the Pulitzer—not just for her reporting, but for keeping it all straight in her head!)

 

Anyway: In the piece I wrote, I argued that we could quite likely be seeing this Mortgage Mess turn into a Foreclosure Crisis, whereby homeowners refuse to pay their mortgages, let alone accept a foreclosure, unless and until the banks produces the note of their mortgage loan. Show Me The Note, Mo-Fo!!, could become the rallying cry of this homeowner revolt.

 

Since the chain-of-title on many of these notes is broken because of the process that created the Mortgage Backed Securities, and because in many cases the foreclosure mills irretrievably tainted so much of the documentation, the litigation could draw out for years, not to mention multiply like a cancer.

 

This of course would affect Mortgage Backed Securities. After all, MBS’s got their moniker for a reason: Because they’re backed by mortgages. If the bundled mortgage loan notes that created the Mortgage Backed Securities are no longer legally tethered to them, then the MBS are secured by nothing but air.

 

All the TBTF banks still have boatloads MBS’s on their balance sheets. There are literally tons of Credit Default Swaps that were written on these MBS’s. So you see, this Mortgage Mess could well get the banks to teetering and tottering once again—it could be the trigger for Global Financial Crisis, Part Duh!: Bigger!—Wider!—Uncut!

 

Like I said: A movie we’ve seen before, and whose sordid ending—TARP-2 anybody? Maiden Lane CCLXVIII?—we can very well predict.

 

In the zoo called Washington, everybody’s making loud noises about this blossoming crisis—but nobody in that God-forsaken town is coming up with a practical solution that would actually work.

 

The pundits are doing no better: Paul Krugman—who advocated a housing bubble back in 2002—can hardly contain his glee at the Mortgage Mess, even as he condescendingly tut-tuts about the bad banksters who caused it.

 

From the Department of I’m-So-Not-Surprised: The solution Krugman proposed in a New York Times op-ed is a vague lunge at giving “mortgage counselors and other public entities the power to modify troubled loans directly.” In other words, he’s arguing for more government intervention, while blithely ignoring the fact that government regulators—Treasury, the Fed, the SEC, etc.—helped create this mess by not doing their jobs in the first place.

 

They didn’t regulate before—so now according to Krugman, they’re gonna get bright magic and Solomonic wisdom, and all of a sudden do their jobs right? Puta huevón, please . . .

 

(And please don’t bother telling me that Krugman’s the smartest economist in the world. That’s like saying, “He’s the smartest moron in the world”: Impressive, until you stop to consider that a bright 12 year-old makes more sense than him.)

 

From the Department of I’m-So-Even-Less-Surprised: The Left might be putting out stupid ideas, but the Right is putting out no ideas.

 

Anyway, it’s an open secret that the politicians on the Right are all in the banksters’ collective back-pocket. Who do you think tried to make law the Interstate Recognition of Notarizations Act, which would essentially have made it legal for banks to commit perjury in order to foreclosure on a homeowner?

 

Talk about violating the Rule of Law! By passing that act (via a cowardly voice vote, so as to collectively hide their hand), the Republican senators and congressmen didn’t just try to violate the Rule of Law—they tried to gang-bang it, murder it, and leave it in a heap by the side of the road!

 

The American political Right is corrupt—beholden to the banksters and the money men. There’s really no other way to look at it.

 

Whatever the politicians might say, no solution is going to come out of Washington. Intellectually, both parties are exhausted—they have no new ideas. The only idea both parties cling to is Spend Money!—and that’s no idea at all.

 

Washington can’t throw money at the TBTF banks, to fix this problem: Politically, another bailout of the banks is untenable—I think. Actually, I’m not sure. In any other country, I’d say with confidence that another bank bailout would cause widespread rioting. But with the fat, slovenly, slatternly, pathetic American people? Placid as cud-chewing cows, peacefully going through Temple Grandin’s curving contraptions, on their way to their slaughter without a thought in their pretty little bovine heads . . .

 

Come to think of it, another bank bailout might fly.

 

But while the pundits and political riff-raff hee-haw and trumpet like donkeys and elephants, but with none of the sense of those fine animals—lo and behold!—the banks themselves are quietly fixing the problem.

 

They’re doing it through Mulligan Mortgages.

 

I got a first sense of it with the story of Brian and Ilsa—my retired friends in the Southwest, whose home had gone underwater. I wrote about them here, as well as here.

 

Brian and Ilsa qualified under HAMP, the Home Affordable Modification Program—yet though they were at first allowed to modify their loan, they had been later denied the benefits of the program after three months.

 

HAMP in many ways has turned out to be a [problem] for the banks and servicers to make money off the Federal government: For every mortgage accepted into the HAMP, the banks and servicers received a fee from the government. But after 90 days, the banks and servicers could claim that a person did not qualify for HAMP—and therefore exclude them from the program, while keeping the Federal government fee.

 

Brian and Ilsa were caught in the middle of this HAMP [problem], when they decided to demand to see the note on their home loan—this nice suburban couple said, Show Me The Note, Mo-Fo!!

 

Suddenly, frantically, a loan officer from their bank appeared, and magically, their problems were solved: They qualified, they qualified! And soon, they were signing a new mortgage loan—and a new note—with a new mortgage payment close to $700 a month less than before the loan modification.

 

I wrote about this—and a flood of other people wrote telling me similar stories.

 

For various reasons—occasionally for no reason at all, just out of the blue—the TBTF bank would suddenly expedite a mortgage refinance. The principal would remain the same, but there would be a substantial decrease in their monthly mortgage payment.

 

One of these stories came by way of Lars Larson, the terrific radio host in Portland, Oregon. A listener of his, Tim Hope, had had the same thing happen with his mother’s loan. As he told it: “No costs, simply fill out the paperwork (I think they offered to do everything), and ‘presto’ new mortgage and new lower monthly payment (I believe by several hundred [dollars] — $200, $300 — per month).”

 

Tim Hope’s story wasn’t exceptional, but he did come up with a wonderful name for it: Mulligan Mortgage.

 

The clever turn of phrase captures it exactly: A mulligan is a golf term. It’s when your first shot pretty much sucked—so your golf partner lets you take another shot, with no penalty. It’s the gentlemanly thing to do, as it were. A way to keep a lazy Sunday afternoon game interesting.

 

Mulligan Mortgages seem to be how the TBTF banks are keeping their own game alive: They seem to be chasing mortgage holders—whether in default or not—and offering them an expedited refinance of their mortgage loan.

 

In order to convince homeowners to sign on the line which is dotted, the banks have to give them something: What they give them is lowered monthly payments of at least a couple of hundred dollars a month. The banks can offer this without touching the principal of the loan by either refinancing the mortgage at a lower interest rate, or a longer term of repayment, or usually both.

 

In other words, though the homeowner might still be underwater after signing the Mulligan Mortgage, they’ll still get a reduction in their monthly mortgage payment.

 

Now there are several advantages to these Mulligan Mortgages:

 

From the banks’ point of view, the Mulligans automatically fix the chain-of-title issue by creating a new note. The whole problem with the current scandal is that a lot of home loan notes were either lost, destroyed or mishandled, or else irremediably tainted by foreclosure mills’ unsavory business practices.

 

But all of that goes away, with a new note courtesy of the Mulligans.

 

(There are, of course, a whole host of administrative and legal steps that must be followed, in order for this to happen. In this post as well as in my previous post on the Mortgage Mess, I skipped a lot of these legal and administrative steps for two simple reasons: One, they add no insight to the issues at hand, and in fact clutter up the view of the overall situation; and two, the administrative and legal steps are often different in each state.)

 

A new note by way of a Mulligan Mortgage clears up the issue of standing, which would allow a bank to foreclose on a delinquent borrower. So once a homeowner signs a Mulligan, the bank will have clear standing to foreclose, if the homeowner becomes delinquent.

 

For bond holders of Mortgage Backed Securities, Mulligan Mortgages are also a fine idea: By re-establishing the chain of title, MBS holders are once again holding secured bonds—they’re not holding paper which might well be worth nothing.

 

This is a non-trivial issue: Considering how PIMCO and the New York Fed started making noises yesterday about the bonds Bank of America sold, I’d say there are a lot of bond holders and CDS underwriters who are very nervous about how this new outbreak of America’s Herpes will affect their MBS positions.

 

Mulligan Mortgages are the unguent that will keep bond holders happy—until they realize the cost that they’re payng (I’ll get to this in a moment).

 

These Mulligans are also great from the Federal Reserve’s and the Obama administration’s point of view: Mulligan Mortgages mean people will pay less for their home mortgages, and therefore have more disposable income. There’ll be a bump in consumer spending.

 

Mulligan Mortgages, of course, can’t fix REO’s that may or may not have been foreclosed illegally—but they’ll get the rest of the housing market back on track.

 

But it’s not all sweetness and light—there are some issues with Mulligan Mortgages:

 

First of all—and most obvious of all—the homeowners the TBTF banks are targeting for Mulligans are probably the very homeowners whose original note is lost or irretrievably ruined by someone in the sausage factory that created Mortgage Backed Securities. I’ll bet a buck to a nickel that they’re precisely the ones where the bank likely has no standing to foreclose.

 

So the banks have to do the Mulligans quickly, before people get wise. Homeowners can’t be allowed to realize what the banks are up, or why. If homeowners understand fully why the banks are suddenly so nice to them, they’ll realize that they’ve got the banks by the short-hairs—and then they’ll realize that they can have their way with them, up to and including doing the Show Me The Note, Mo-Fo!! dance. If that happens, the banks are screwed.

 

The second obvious issue is, Mulligans represent a severe hit to the TBTF banks’ revenues.

 

How much of a hit? Nobody knows—at least not yet—because nobody knows how many mortgages are affected by the current Mortgage Mess.

 

CoreLogic says there are something like 11 million underwater mortgages in the United States as of late August. The Wall Street Journal says about $154 billion worth of mortgage loans could be affected by the Mortgage Mess.

 

We could extrapolate ‘til the cows come home, but simply put, there is no way to know how many mortgages might be getting a Mulligan. The TBTF banks are completely opaque, ever since the Fed basically rescinded sane accounting rules in March of 2009; when the banks officially turned into zombies.

 

But any way you look at it, the Mortgage Mess—even with all the Mulligans needed to fix a lot of this mess—is going to take a bite out of revenues—

 

—and not just on the balance sheets of the TBTF banks: On the MBS bond holders too.

 

Nobody ever said Bill Gross was stupid: Regardless of how effective the Mulligans are, the Mortgage Backed Securities—and the CDS’s written on them—are all going to take a hit. That’s why PIMCO started making noises, trying to bully BofA into taking back the mortgage bonds: Even with the best solution to the Mortgage Mess, bond holders are going to take a forced haircut. Or a buzzcut, as the case may be.

 

Since the Federal government really does not have the political will or inclination to go for yet another round of bank bailouts, and since the bond holders have the political muscle in this corrupt system to get their bacon saved (where’s all that bull**** talk about “capitalism’s creative destruction” now, huh?), it’ll be up to the Fed to make MBS bond holders whole—just like they did the last time.

 

So although a lot of people are predicting that the Fed will start buying Treasuries when QE2 is anounced, I beg to differ: I think they’re going to load up on even more Mortgage Backed Securities. In fact, I think a big piece of QE2—maybe a trillion dollars’ worth—will be directed at Mortgage Backed Securities. And I think the Fed is going to pay top dollar for that garbage.

 

I think the way the Fed is going to do it is, they’ll go for another round of Stealth Monetization: Buying MBS and other toxic assets off the banks for newly conjured cash, the banks then taking that cash and parking it in Treasuries, thereby funding the Federal government’s deficit.

 

Because of the Currency Wars going on around the globe right now, I don’t think the Fed wants to be perceived as accelerating any weakness in the dollar. I think Bernanke and the Lollipop Gang at the Fed want to weaken the dollar, sure, but I don’t think they want the perception to linger that they are out-and-out trashing the dollar.

 

Also, I don’t think Bernanke has the votes on the Federal Reserve Board anymore. I think a lot of Board members are discreetly coming to the conclusion that Benny Boy’s strategy of ZIRP, propping up assets, and extreme market liquidity, is a losing one.

 

But they’ll be forced to vote in favor of a massive MBS buy, in order to keep the American Zombie banks on their feet. As predicted back in 2008 when they were saved rather than allowed to fail, the TBTF banks really have become “too big to fail”—because they’ve grown, like a cancer.

 

So you see, it all goes back to the Mortgage Backed Securities. America’s herpes. See, the problem with herpes is, once you get it, you can never be cured. At best, you can alleviate the symptoms—but the disease is always there.

 

 

[MDK]

This is for the US but what about mortgages in the UK? Have they been diced and sliced and problems with fraudclosures, same with asking for documents for credit cards that the banks can't produce in the UK?

"Where's The Note" Update

 

Submitted by Tyler Durden on 11/01/2010 22:03 +0100

 

 

• Bank of America
  
• Total Mess
  

 

 

SEIU or not, here is a status update from Where's The Note, as the recently launched campaign to request proof of mortgage note existence approaches the 20 day limit by law within which banks have to respond to all properly-submitted verification claims.

Heard Anything?

When news broke that Wall Street had made a total mess of our mortgages, we launched a website that let homeowners ask their bank a simple question: where's my mortgage note?

 

By law, banks had 20 days to respond to your request. We're coming up on 20 days - can you give us a few minutes to tell us what you've heard? Click the appropriate link:

 

• My bank sent me what they claim to be the original note.
  
• My bank responded, but did not send me my original note.
  
• I haven't heard back from my bank.
  

We've already started to hear back from some of the 200,000 homeowners that have gone to our site. So far, the responses are troubling.

 

Some banks claim they have no idea where the note is. Others have sent what they claim is the note, but closer inspection shows that it's a completely different document.

 

But, the most troubling of all is the response that many homeowners have gotten from Bank of America. They're telling customers they have no legal right to see their own note. Think about how absurd that is; your mortgage note is a contract you signed with your bank - and they're telling you that you can't see it?

 

Did your bank give you a similar response? Click here to alert your state attorney general: http://action.seiu.org/page/s/investigate

 

We aren't going to get to the bottom of Wall Street's mess overnight. But step one is alerting the authorities if your bank fails to honor your request in a way that you think is acceptable. And if there's any hint of possible fraud, it needs to be investigated immediately.

 

I'll send you another update once we hear back from other homeowners in the same boat as you. If we're going to keep paying thousands of dollars to these banks, we have every right to demand some shred of accountability from them.

[Nita]

Why do we not boykott the banks for a week to let them know how much they need us?

Maybe a day would even be enough!

[MDK]

And that is exactly what is being organised for 7 December 2010!

Join in and tell everyone about this... we can hit there where it hurts... after all the government are not bringing any of those responsible to justice and allowing them even bigger bonuses this year.

 

7 December Is The Unofficial Pan-European Bank Mutiny Day

 

Go to this website for more details:

http://www.zerohedge.com/article/december-7-unofficial-pan-european-bank-mutiny-day

 

and various facebook support pages:

• Italy
  
• France
  
• Germany
  
• Holland
  
• Great Britain
  
• Greece
  

[MARTIN3030]

Cantona's suggestions will be counter productive.

So everyone in France withdraws their cash from the banks ......this leaves them in a state of collapse.

It means that again the European bank steps in to stop a collapse...which in turn means that every European country is affected-markets crash,prices go up,speculators have a field day.

Not a very clever idea really is it ?

[MDK]

The banks ARE in a state of collapse, it is all a complete fraud and they are trying to pretend they are solvent when they are not. If you keep your money, if you are lucky enough to have any that is, then it is not safe in a bank. They keep the con going by more bailouts from taxpayers money, they take from hard working people to fund their [problem] and pay themselves huge bonuses in the process.

We have waited long enough for governments to bring people to justice and they have done nothing. They haven't even fixed the broken system so it won't happen again. Basel III liquidity requirements will not be put in place until 2018!!!! and even then that is a pretty lenient and pathetic regulation

[rebel11]

When the government said they didn't want to own a 'bank', thats exactly what they should of done. Become the biggest bank in the land, that would have kept the

other banks competitive and treat their customer the way customers should be treated. They missed a huge opportunity.

[charlie*]

There are forces at work now that will change the banking system.... from a Fractional Reserve to Full Reserve.... the proposals are already in the hands of leading authorities on the subject and the building of an army IN THIS COUNTRY to 'help' the prime minister make up his mind is also underway. (university students will be hard to stop once they realise what the future holds for them).

 

The most evil confidence trick the world has ever known started in this country hundreds of years ago - it survived because the natives (us) were not educated and those who started it were able to bribe, blackmail or murder anyone who stood against them.... it was later put into America with the signing of the Federal Reserve Act in 1913 and from these two countries it has spread to pretty well every country in the world.

 

John F Kennedy declared his intent to repeal the Act and print debt free money out of the US Treasury - (presidential order 000001) but, before he could do it, he was assassinated (they still don't have a water tight reason, the only one that makes sense is that he intended to close the Fed and revert the control/issuing of money free of debt to the people.

 

Abraham Lincoln went the same way when he challenged the earlier versions of the Fed, when they were still independent of each other - he was assassinated too - and they still make lame excuses.

 

As we allowed it to be 'exported' so the banksters could become richer than Croesus himself, it is only right that from this country the solution to fiat debt money created when a loan is made should originate.

 

See Bank Charter Act 1844 (The Peel Act)

Edited November 19, 2010 by charlie*

[MDK]

Joe WägesMusing of a Bank Run

 

If ever there were a sign of the times, one can clearly see the desperation of the establishment upon reading Andrew Clark's "Eric Cantona's bank protest isn't very wise". After reading the article and comments it becomes painfully clear that most people, the author included have no idea how the monetary system works.

 

How does Mr. Clark propose with that "There's nothing evil about the concept of banks – they exist to look after our savings and to provide investment for businesses", given that banks create money out of thin air based on deposits as a multiplier. One cannot say (with a straight face) they are looking after our savings as the very purchasing value of those savings is being diluted through legalized counterfeiting known as leverage and or the money multiplier. I do not think Mr. Cantona is arguing against the concept of banking, but rather organizing the end of the current predatory casino model paraded around as capitalism. Calling this model capitalism is an insult to capital, as it is after all savings. True capitalism cannot exist in a system where money is based on debt, not value; a printing press and not from savings. On the point that the concept of banking is not evil, one concedes that an idea cannot posses any characteristics of a living entity as it is an idea. That said debt based monetary systems utilizing a fiat currency, are historically used by oppressive régimes as the system itself is a giant wealth transfer and consolidation mechanism.

 

Ask yourselves how can it be that I, my friends and family, businesses and corporations, states, nations and indeed every entity created by man be in debt all at the same time? It is because of the banking and monetary system itself. The assets of the people are transferred to banks by creating ever more "reserves". There is no hope for savings in a fiat currency as the nominal value can be maintained, but the actual purchasing value is devalued at an exponential rate. Most importantly in this type of system you can never be out of debt as the system is based on debt. Banks create principal and not interest, which is why there is a minimum payment on credit cards. This is the interest payment. Banks do not care if you ever liquidate debt and it is in their best interest that you don't. If you round up every last dollar both physical and digital, and apply it to all of the debts, there still will not be enough money as it has yet to be created. In short is a [problem] and once trapped inside, it is very difficult to escape. Mr. Cantona is only showing us one possible exit.

 

The crisis we are facing is that exponential growth of debt, also known as the money supply, is an unsustainable function and the banks knew this. They only had to refer to the "small" history of banking spanning the last 500 years. Every person, corporation, state and government is well beyond prudent debt saturation levels, and has been so for some time. In short we cannot take on more debt, and this breaks the entire system forcing all to liquidate assets at a fraction of their value as no new value is being created by the banks in the form of debt as the exponential monster requires. This is how banks transfer wealth, for pennies on the dollar, from the aggregate to the few with little to no personal cost to them, as their money is a created based on a multiplier of our money.

 

The solution is to strike first and cripple the banks by removing our money and using it to buy physical assets. A demonetization of the system if you will. Precious metals and essential commodities are naturally the best investments. The banks will cry wolf, but this time there will be no bailout. The people must insist on their sovereign nation issuing its own debt free currency, as it is the only real purpose for a national government to begin with. We don't need private currencies anymore and fractional reserve banking is the largest hammer in the toolbox of tyranny. Banking and indeed money should be based on value not debt. Lets make this the end of debt slavery and the beginning of a renaissance of liberty by withdrawing all of our money and restoring the power and prerogative of the nation-state by reinstituting the practice of issuing debt free money and full reserve banking based on fees and not interest. All debts must be repudiated as illegal instruments without exception.

[MDK]

20% of the Irish 'bailout' is from the Irish PENSION fund.... they are robbing the pensioners to pay the banksters bonuses.

 

Protest against the banksters on 7th December 2010 and take your money out of the banks.. or take it out now.. and keep it out. They are forcing a debt on the Irish people they don't want.

Bailouts..next is Portugal, Spain, Italy and then... UK, Germany will fall like dominos. You want the banksters to force us to swallow more debt and slavery?

Edited November 29, 2010 by MDK

[MDK]

And to save the banksters:

"Ireland first must run down its own cash stockpile and deploy its previously off-limits pension reserves in the bailout. Until now Irish and EU law had made it illegal for Ireland to use its pension fund to cover current expenditures. This move means Ireland will contribute euro 17.5 billion to its own salvation."(should really read DESTRUCTION!)

 

[hamsterk]

i just want my money back

[MDK]

Count down to take your money and run day..

they give you virtually NO interest and charge exhorbitant interest to those they give YOUR money to...

take your money away from them.... cancel direct debits, use cash only... hit the banksters where it hurts them.... in their end of year bonuses.

They are getting record bonuses, yet the people have their pensions robbed illegally to bail out the bondholders (Ireland, pensions, bondholders, and other countries doing the same) It is ILLEGAL to use pension funds

 

Tuesday 7 December 2010 go to your cash machine, go to your bank, demand YOUR money and protest, show you are a person not a number