Will the Biggest Banks Finally Go the Way of the Gambinos?
One state has finally found the guts to go after the banks that created the MERS monster, invoking RICO laws. Yes, MERS was part of a vast criminal conspiracy by the biggest banks (including the GSEs) to cheat counties out of property recording fees and to speedforeclosures while destroying the Western property law tradition.
The banks do not have title to the properties they are stealing. Because MERS destroyed the chain of title. But Washington sees foreclosure as the only way out of the mess created by Wall Street.
The banks want to take the homes, quietly package them into bundles, and then sell them to thehedge funds at cents on the dollar. That will allow Wall Street to complete the transformation of our country to the “ownership society” sought by former President Bush...Yes, the plan all along was to transfer all ownership to the top 1%...
http://www.levyinstitute.org/publications/?docid=14)
But the little state of Louisiana is throwing a monkey wrench into that scheme. It recognizes that MERS was at the very center of the criminal conspiracy. The state is invoking the Racketeer Influenced and Corrupt Organizations Act alleging wire and mail fraud and a scheme intended to defraud parishes out of recording fees.
http://agbeat.com/real-estate-mortgage-economy/mortgage/louisiana-sues-banks-under-rico-laws-for-mers-scheme/
http://www.economonitor.com/lrwray/2012/04/21/louisiana-sues-banksters-under-rico-laws-will-the-biggest-banks-finally-go-the-way-of-the-gambinos/
The banks do not have title to the properties they are stealing. Because MERS destroyed the chain of title. But Washington sees foreclosure as the only way out of the mess created by Wall Street.
The banks want to take the homes, quietly package them into bundles, and then sell them to thehedge funds at cents on the dollar. That will allow Wall Street to complete the transformation of our country to the “ownership society” sought by former President Bush...Yes, the plan all along was to transfer all ownership to the top 1%...
http://www.levyinstitute.org/publications/?docid=14)
But the little state of Louisiana is throwing a monkey wrench into that scheme. It recognizes that MERS was at the very center of the criminal conspiracy. The state is invoking the Racketeer Influenced and Corrupt Organizations Act alleging wire and mail fraud and a scheme intended to defraud parishes out of recording fees.
http://agbeat.com/real-estate-mortgage-economy/mortgage/louisiana-sues-banks-under-rico-laws-for-mers-scheme/
http://www.economonitor.com/lrwray/2012/04/21/louisiana-sues-banksters-under-rico-laws-will-the-biggest-banks-finally-go-the-way-of-the-gambinos/
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