Dreamli Zs Deadly Clear on December 24, 2011 at 6:35 am said: The Congressional Oversight Panel has already given the green light to prosecute these banks and highlighted the RICO clues. With that said there is a Supreme Court case, ROBERT G. HOLMES, JR., PETITIONER v. SECURITIES INVESTOR PRO-TECTION CORPORATION, ET AL., 503 U.S. 258; 112 S. Ct. 1311; 117 L. Ed. 2d 532; 1992 U.S. LEXIS 1947; 60 U.S.L.W. 4225; Fed. Sec. L. Rep. (CCH) P96,555; 92 Cal. Daily Op. Service 2460; 92 Daily Journal DAR 4030; 6 Fla. L. Weekly Fed. S 89 (Decided March 1992), where O’Connor, J., joined by White and Stevens, JJ., con-curring in part and concurring in the judgment, expressed the view that “a plaintiff need not be a purchaser or a seller to assert RICO claims predicated on securities fraud, given that the relevant predicate offense is 32 of the 1934 Act (15 USCS 78ff(a)), a criminal provision as to which the purchaser-seller standing requirement is of no import.” And Scalia, J., concurring in the judgment, expressed the view that “(1) the purchaser-seller limitation applicable to private actions under Rule 10b-5 does not apply in civil RICO cases alleging Rule 10b-5 violations as predicate acts, given that the action under 18 USCS 1964 is con-gressionally created, unlike the action under Rule 10b-5, which action was created by the court itself;” The question asked on Appeal: was “the Ninth Circuit correct when it held that SIPC need not be a ‘purchaser or seller’ of securities to sue under Section 1964(c), which provides that ‘any person’ may sue for ‘injury to his business or property’ ‘by reason of’ ‘any offense … involving fraud in the sale of securities … punishable under any law of the United States,’ wire fraud, or mail fraud in violation of Section 1962?”;” Let’s face the facts – this was a scheme that was even patented. It wreaks RICO! Qui Tam if we must. The investors have sued for “inflated appraisals, systematically abandoned underwriting guidelines, and over-rated bonds – the homeowner had no control over any of these issues. In fact the investors had more opportunity and disclosure of the scheme than the homeowner who unwittingly participated and made his decision to borrow based upon the [fraudulent] appraisal. By 2006, the banks were no longer using appraisal as their basis for lending. They patented a process that used the borrower’s credit score, “ability and willingness to pay” to come up with a figure and then went shopping for an appraiser to meet the figure in a fraudulent inflated appraisal. Homeowners thought they were making a good investment and when they hesitated, there was a patented speech contrived by the banks that assured the homeowner he could refinance if he kept his credit score up. The majority of homeowners had stellar credit. 8 out 10 called the banks for help before they missed a payment. They were told they had to miss 3 payments in order to get help – but that actually put them into default – where insurance monies kicked in and paid off the banks. There was never any plan to help the homeowner to anything, but out of their house – so the banks could continue to churn and burn. They wrote more loans than they can hold – the jig is up. To allow foreclosure and eviction to continue knowing that there is no where for these mortgages to go is to aid and abet the fraudulent activity – whether it is Obama, Holder, Geithner or Congress. There are more loans than the banks can legally hold – modification is a ruse just taking up time to get past the statute of limitation for fraud. Because that is exactly what this mortgage securities scheme was – a Ponzi scheme. A Ponzi scheme that created $700 TRILLION of debt. The homeowners did not do this – Wall Street did. So, when it comes to the question of “can a homeowner point to the PSA and the forged and fraudulent assignment of mortgage?” We know that the banks know it is forged and fraudulent – push the fraud and RICO button because this was a securities fraud and the homeowner and his collateral are certainly unwitting indispensable 3rd parties. Damage to the homeowner: fraudulently inflated property value, inability to sell the property, inability to enjoy the property, inability to refinance the property, loss of equity and investment, clouded titles, and this scheme caused the economy to collapse – loss of jobs, hours, wages; all causing stress, divorce, health issues, death – this was a (literally patented) financial force majeure.
Posted on: Fri, 14 Jun 2013 21:58:46 +0000
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