Friday, March 11, 2011

bank foreclosure

On Monday night, I watched my first, The Previous Phrase host Lawrence O’Donnell.
Even while O’Donnell laudably experimented with to target the audience’s focus onand hopefully last, Charlie Sheen trainwreck interview, courtesy of the tragic undertow that threatens to pull Sheen underneath for superior, I used to be overtaken, not by the pulling about the thread, as well as the voracious audience he serves. It didn’t make me sad, it designed me angry.

When it comes to celebrities, we are able to be a heartless nation, basking in their misfortunes like nude sunbathers at Schadenfreude Beach. The impulse is understandable, to some diploma. It could possibly be grating to pay attention to complaints from most people who have fun with privileges that the majority of us can’t even visualize. If you happen to cannot muster up some compassion for Charlie Sheen, who would make far more income to get a day’s deliver the results than the majority of us will make within a decade’s time, I guess I can not blame you.



Using the speedy tempo of events on the net plus the facts revolution sparked from the World-wide-web, it is highly easy for the technological innovation business to presume it is exclusive: repeatedly breaking new ground and carrying out details that no one has actually accomplished before.

But you will discover other sorts of internet business that have previously undergone some of the same radical shifts, and have just as terrific a stake inside the long term.

Take healthcare, for example.

We regularly consider of it as being a vast, lumbering beast, but in fact, medicine has undergone a series of revolutions during the past 200 a long time that are at least equal to all those we see in engineering and advice.

Less understandable, but nonetheless within just the norms of human nature, would be the impulse to rubberneck, to slow down and find out more about the carnage of Charlie spectacle of Sheen’s unraveling, but of your blithe interviewer Sheen’s daily life as we pass it within the proper lane of our each day lives. To become honest, it could be difficult for most people to discern the variation concerning a run-of-the-mill consideration whore, and an honest-to-goodness, circling the drain tragedy-to-be. On its own merits, a quote like “I Am On the Drug. It’s Identified as Charlie Sheen” is sheer genius, and we can’t all be anticipated to consider the full measure of someone’s lifestyle every single time we listen to something humorous.

Rapidly forward to 2011 and I'm seeking to take a look at means of becoming a bit more business-like about my hobbies (largely new music). From the end of January I had manned up and began to promote my weblogs. I had put together plenty of diverse weblogs, which were contributed to by colleagues and colleagues. I promoted these actions because of Facebook and Twitter.


Second: the little abomination the Gang of 5 about the Supream Court gave us a yr or so in the past (Citizens Inebriated) genuinely comprises a little bit bouncing betty of its individual that can highly perfectly go off with the faces of Govs Wanker, Sacitch, Krysty, and J.O. Daniels. Considering this ruling extended the concept of “personhood” to equally companies and unions, to consider to deny them any best to run inside of the legal framework that they had been organized under deprives these “persons” with the freedoms of speech, association and motion. Which implies (once yet again, quoting law college skilled loved ones) that possibly the courts have to uphold these rights for your unions (as person “persons” as guaranteed through the Federal (and most state) constitutions, or they have to declare that these attempts at stripping or limiting union rights really need to utilize to important companies, also.

"No TKO's will be accepted"

~

Check out this letter sent from "Foreclosure Stoppage" Attorney George Babcock to opposing counsel Mark Harmon...

Dear Mr. Harmon,

Please 
be advised  that  I have been retained by Mr. Conley  regarding  the
notice of illegal foreclosure  you mailed  to him on February 4, 2011.
The chain of title to this properly and  the note is like a walk down 
the yellow  brick road.  Is Harmon  Law the Wizard of Title? You
display  extreme  indifference to the law by noticing a foreclosure  on
this property. As you know,  I take great pride in defending my
clients  against  the evil forces that guide your actions. Mr. Conley 
is a personal friend. It is my intention to be even more pugilistic in
this matter.  It is disgusting  and  I will make sure  that whoever 
violates  his property rights is knocked out of the ring. No TKO's will
be accepted. A full  fledged,  right cross to the chin of the beast.

I
look  forward to a response although  I am quite certain  you will not
engage me as is your habit. Send your minions that  I may  lay waste 
to them before me.

I hope  that this letter  is circulated  as
has been your habit in the past. I like my enemy  to know  that I am at
its doorstep.

Very  truly yours,

George  E. Babcock, Esquire

Actual letter below...

But first, some background on Mark Harman...

AG investigating Newton law firm's foreclosure work

Harmon
Law Offices, a Newton firm that specializes in foreclosures, is being
investigated by the state attorney general's office for allegedly
unlawfully evicting residents from bank-owned properties.

State
officials want to determine whether Harmon Law failed to comply with a
new Massachusetts law that protects tenants living in foreclosed homes
from eviction, a spokesman for Attorney General Martha Coakley said
today. more here...

Plantation foreclosure company's director quits amid investigation ...

Mark
P. Harmon has resigned as a director at the Plantation foreclosure
processing company with ties to David J. Stern's law practice, as the
Massachusetts Attorney General said it is investigating whether
Harmon's firm illegally evicted tenants from repossessed homes in that
state.

Harmon's resignation, announced by DJSP Enterprises Inc.
on Monday, comes as the beleagured company said it is laying off
another 198 employees, bringing the total to 300 within the past two
weeks. more here...

For more on "Foreclosure Stoppage" attorney George Babcock click here...

 

4closureFraud.org

 


Foreclosure Fight Club Lawyer Letter





Comments


Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.


28 Responses to ““Extend & Pretend” Practices Attracting SEC Scrutiny”







  1. JimRino Says:



    March 3rd, 2011 at 7:54 am

    Rewarding Failure, allows Wall Street to afford to prop up the “Republican” party.

    Failure rewarding failure..








  2. Petey Wheatstraw Says:



    March 3rd, 2011 at 8:08 am

    “3) Banks are carrying lots of housing inventory waiting for a better residential market to emerge 5 or 10 years down the road.’


    The might as well be waiting for Jesus to come back.


    From PA to GA there are thousands upon thousands of homes — new and previously occupied — being left to molder. I’ve driven the towns and back roads, and I’ve seen it all.


    Every now and then, someone on the internets tubes will suggest that unoccupied houses be bulldozed in an act of “creative destruction.” In a sense, that’s already happening, only Mother Nature is being allowed to do very slowly what the dozer would do in a matter of minutes.


    Recently nice/occupied homes missing shingles and/or siding due to weather. Windows broken and letting in the rain and snow. Downspouts eroding soil away from foundations. Gutters pulled down by the weight of rotting leaves. Trees, grass, and critters encroaching on lawns.


    Inside, appliances and fixtures have been taken or simply trashed and left behind, along with anything the previous occupant didn’t want to move, including trash and rotten food. Walls have been smeared with food (and probably feces).


    Many of these houses are REO, but not on the market. Many are already in such poor shape that they will never be sold. Even houses on large chunks of acreage (10+), the only value left is in the land, and any developments (well, septic, electric and other utilities — including the ubiquitous satellite TV dish), won’t find a buyer because the structures themselves have become a liability and a barrier to the sale of the property, as tear-down is required in order to replace a dangerous structure with a habitable one.


    Extend and pretend has a result that the SEC can’t reverse.








  3. SCTTD Says:



    March 3rd, 2011 at 8:20 am

    John Hussman had somewhat scathing comments about status of FASB 157 and the Boards unwillingness to actually hold their constituents to a reasonable standard in this weeks commentary.


    http://hussmanfunds.com/wmc/wmc110228.htm


    Scroll down to the open letter to the Financial Accounting Standards Board section.








  4. Alaric Investments Says:



    March 3rd, 2011 at 8:26 am

    Surprising to think that anyone in the investment community believes that the banks are not intentionally “kicking the can down the road” – of course they are.


    In fact, this is explicit government policy: is not a major reason for Federal Reserve’s negative real interest rates to help recapitalize the banks so that they will eventually be able to write off the remaining bad debt?


    Also, by “going Sweedish”, do you mean a Mises-like clearing out? I would have thought that “going Sweedish” would conflict with the left of center agenda, no?








  5. Mark E Hoffer Says:



    March 3rd, 2011 at 8:27 am

    this: “1) Banks are slowly rebuilding their capital by borrowing from one branch of government and lending to another. This is a slow process, but its less well unerstood (and hence more politically acceptable) than merely giving Banks capital outright…”


    as an explaination of: “…the arbitrage between the the Fed’s ZIRP policy and Treasury’s 10 year bonds…”


    is complete, and utter B*******.


    for further reading…


    http://www.humblelibertarian.com/2009/08/77-reasons-to-audit-fed-and-end-fed.html

    http://www.monetary.org/federalreserveprivate.htm

    http://www.barefootsworld.net/banking-fed-quotes.html








  6. Alaric Investments Says:



    March 3rd, 2011 at 8:28 am

    SCTTTD –


    Talk about scandalous accounting: remember that Buffet did not use mark to market accounting on a portfolio of publicly held securities and was able to get away with it with a mere verbal slap on the wrist from the SEC….


    http://alaricinvestments.blogspot.com/2010/10/us-is-banana-republic-part-2.html


    Shocking?








  7. curbyourrisk Says:



    March 3rd, 2011 at 8:35 am

    Mark…when you say that is B********…do you mean the act is B******, or you do not believe it?????


    For the GSE’s….give me a call….I have a crap mortgage you have as well.








  8. curbyourrisk Says:



    March 3rd, 2011 at 8:37 am

    Forget going swedish. Let’s all go Iceland on their asses.


    Collective middle finger to the banks….








  9. constantnormal Says:



    March 3rd, 2011 at 8:43 am

    “2) FASB 157 allows banks to carry all of these structured products made of bad mortgages on their books indefinitely.”


    Indefinitely? Surely not forever … what happens when these toxic mortgages mature, and still have huge unpaid balances?


    Don’t they have to be written down then, or can they continue to be carried on the books as “assets”, with a mountain of “good will” in the form of unpaid principal & interest, penalties, and fees?


    Why do the banksters EVER need to work again, if they can mine nothingness in perpetuity?








  10. KentWillard Says:



    March 3rd, 2011 at 8:44 am

    I think the SEC’s focus is on the largely forgotten commercial real estate (perhaps construction too), not single family mortgages. Although commercial real estate prices have fallen almost as much as house prices, we haven’t seen the spike in defaults (yet?).


    The bigger question is why the SEC is pushing this rather than the obvious regulators: OCC and FDIC. Would be interesting to know if all the SEC Directors support this action, or if it is a partisan choice.








  11. constantnormal Says:



    March 3rd, 2011 at 8:52 am

    Mary Shapiro is gonna get herself in a lotta trouble, if she’s not careful … this is what happens when the head of a regulatory agency is not a former bankster …








  12. Mark E Hoffer Says:



    March 3rd, 2011 at 9:00 am

    curb,


    if I’m reading that, correctly, the GSEs aren’t involved in this statement: ““…the arbitrage between the the Fed’s ZIRP policy and Treasury’s 10 year bonds…”


    and, to restate/try to clarify, this : “1) Banks are slowly rebuilding their capital by borrowing from one branch of government and lending to another. This is a slow process, but its less well unerstood (and hence more politically acceptable) than merely giving Banks capital outright…”


    as an explaination of: “…the arbitrage between the the Fed’s ZIRP policy and Treasury’s 10 year bonds…”


    is complete, and utter B*******.


    or, differently, the idea that the FedRes is a ‘branch of Government’, akin to the Legislature, Executive, and Judiciary is, quite, inane..


    http://www.thefreedictionary.com/inane








  13. b_thunder Says:



    March 3rd, 2011 at 9:14 am

    I bet the next budget will have SEC defunded even more than the wettest GOP dream would be.


    But this time it will be courtesy of the Obama/Dudley/Geithner cartel.








  14. wally Says:



    March 3rd, 2011 at 9:25 am

    “Banks are carrying lots of housing inventory waiting for a better residential market to emerge 5 or 10 years down the road.”


    A self-defeating act; they’ll be a drag on the very market they hope will improve.








  15. curbyourrisk Says:



    March 3rd, 2011 at 9:42 am

    Mark…my GSE comment was not related to your comment at all…..just something completely different.


    As for the rst of your comment……… The FED RESERVE has been controlled by the government for some time…effectively making a exetnsion of a branch (or multiple branches) of government.


    If you do not believe that the actions taken are not complicit in allowing the banks to mock america and fill their coffers at our expense, then you sorely are mistaken….








  16. stopGOVTwaste Says:



    March 3rd, 2011 at 10:03 am

    stopGOVTwaste

    stop_govt_waste@hotmail.com

    68.205.104.52

    2011/03/03 at 9:38 am


    I thought the banks wanted defaults… so they can obtain the Credit Default Swaps, right?


    Isn’t this why they tell people to stop making payments (must be 90 days late in order to receive assistance)?




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