 |
|
Add to My Group
|
September 27, 2008 at 01:41:49
America into becoming a Third World Nation within bailout by D'Anne Burley Page 1 of 2 page(s) 
|
|
|
1
1
1
Band aid Politics leads By D’Anne Burley In the 80’s HUD properties which DID NOT EXIST on paper, in reality were given lots of money for repairs. The only issue was that the property was there indeed, but no Public Housing existed on those sites! Instead of a federally funded property with housing on the grounds for the poor, the property was on a vacant lot, and was used to create financial shells. The Federal Government paid to fix equipment and apartment(s) via privately held shell businesses which received Government contracts via HUD to do the work. Money out, money gone, but the poor received nothing. The tax payers paid for this nightmare. Poor families lost children and loved ones who stepped onto elevators which never arrived to their floor, and without looking they fell to their deaths due to non-working equipment. This was massive contract fraud and corruption. Was this money ever repaid to the system? 
America into becoming a Third World Nation
Housing and Market Crisis We need to Speak out now
Catherine Austin Fitts, served as managing director and member of the board of directors of the Wall Street investment bank Dillon, Read & Co. Inc. As Assistant Secretary of Housing/Federal Housing Commissioner at the United States Department of Housing and Urban Development in the first Bush Administration, and as the president of Hamilton Securities Group, Inc., an investment banker and financial software developer, she knew about the theft within HUD years ago which was impacting public housing.
The issue of Real Estate, Housing and Mortgage Banking fraud began years ago and many watched from the inside with horror. The Mortgage guy and gal who were just attempting to do a service as the middleman in these loans were placed at risk. The consumers needed affordable housing growth. The condo scare was on, whereby many available rentals were converting over night. Renters with moderate incomes were being forced to purchase homes due to condo conversions, and housing availability in good areas. Then the conventional Mortgage Loan Market Place opened up to the subprime market. In the beginning you still had to have 20% down and at least a 560 credit score. Many of the banks required you to pay off your credit card debt prior to purchase. Then as time passed the requirement got weaker and weaker for consumer credit guidelines. In the mid 90’s the interest only program came out whereby loans were being done with the interest being 1,2,3% and very little being paid onto the principle. Properties were assessed within future value appraisals which no one speaks of today.
I know about these loans, because I was in the Mortgage Industry and was a Director of a Gold Coast Mortgage LLC. Money was being made. Greed factors were present. The real estate market became a playground for developers and others getting your mother’s and father’s property for $200-300k which they had originally purchased 20 years earlier for under $50k. The $50k homes were being replaced by $500k to 1 million dollar properties which offered up a large bank roll for all involved. For everybody except the consumer who is now the fall guy in the mortgage mess.
The game was to State Your Income on the Mortgage Application called the 1003.The consumer stated what they made in earnings, which was in many cases certified by CPAs. The game was to get the income bumped up so they could qualify for these new lending products. The consumer was not really aware of the money owed on the loan and how the adjustment worked after the loan was granted, or that it would be adjusted based upon being on an arm and that the adjustment figure would cause the loans to go from, for example, a 3% interest rate to maybe 6 or 10%. The increase added more to the mortgage payment as well as making it hard for many to pay back the debt to the bank! This meant that you had nothing built in to pull from if there was a crisis. No equity. The appraised value was on future values of property within your area, and you paid nothing into the principle of the loan. Your monthly payment mostly went directly into interest! The money was flowing in and out of the hands of the people within the banking industries and your property was being sold to security firms who held onto the paper making more and more money off your new debt. Those who owned property were no more than just glorified renters.
The secondary market had the homes, they held your paper, and served your debt, and this is where Freddie Mac and the other entire Mac businesses made there money when your loan defaulted. There was a value to your home on resale within the secondary market, if the home was foreclosed on then. But today they claim they cannot determine the value of these properties. The consumers are left on the doorsteps of the court house faced with administrative judgments known as "Summary Judgments" whereby you are already guilty of something. You cannot argue your case before the court because within this type of judgment the contract has determined, prior to your case, that you defaulted in payment, therefore failure to pay doomed your basic rights to fight your case.
A few weeks ago I visited a Chicago courthouse and saw 3 paralegals with at least 40 cases a piece on their desks, all within this hearing of just one courtroom calendar hour. That means, 120 people lost they’re homes in 60 minutes. Only three people, home owners, came to attempt to get some rights within the system. Because they had no money to fight with due to the loss of a job, lack of income and/or being in a home they could never have afforded, the judge granted them between 30-60 days to vacate. They were being evicted on to the streets. These people are Americans, middle class, the people who work everyday just getting by in today’s economy. They have children who are now being thrust into becoming the poor over night.
There is no bailout.
Those involved did not use common sense within their high finance world! Or did they and this is just a new Y2K Game being played? They claim the consumer needs to go to money management classes in order to get a mortgage, but look at the real mess and where it came from. This issue is not coming from the Millions of Americans who are losing their homes. It’s coming from Wall Street! Many of those people in that courtroom that day when I visited were minorities! They had no attorney, nothing, and are now in the streets.
The housing issue is outrageous! Condos are all over the place with fewer apartments available at affordable prices. Please note that the housing nightmare has only just begun. The 700 to 987 billion dollars needed is just a bandage to next weeks shortage.
The Game
It will make a lot of people lots of money. When the stock market opens on Monday of next week, you see that the game is that you the consumer are frightened and selling your stock, getting out of money market accounts, and markets in general. Everyone is being told of failing markets. While you sell, they are buying! YEP! They are buying your stock at little or nothing due to panic! If these billions of dollars are released by Friday, then that means on Monday the market will go to a new high due to increased and inflated revenue from all the new business transactions, like Lehman Brothers, bailed oil, and others being sold. This will increase the stocks on the market. But, they refuse to help bail out the people by freezing foreclosures. Why? You think about it, and look to what else may happen to the dollar within the coming weeks from consumer mortgage property buy-outs by foreign nations and businesses. So who needs money management classes? Or is it just a game to get more money out of your pocket and into their hands?
Look at Halliburton never paying back a dime of the money they used while over stating military invoices! We ate that one! Yep, Joe public that is, we sent water and food to our military men and women when there was no money available to do this via the military budget! Don't you recall? And no one asked them to pay the money back! If in fact there was an accounting for over stated invoicing and it was paid back to the Feds, how much of that refund could have been used to recoup the stock market today without asking the tax payers for a dime!?
Our military was placed at great risk and no one did anything. Bunny Greenhouse, of the Army Core of Engineers, lost her job over this one. For coming out and speaking the truth! There are millions of insiders, whistle blowers, who are still talking and filing suits. The Department of Justice did nothing but ruin their lives and caused them to be followed, harassed, investigated, harmed, bankrupted and/or murdered. I was one of them. I could not get work and was medically rendered. Yes, they control the hospital via peer administrators who are backed by the pharmaceutical industry who have direct ties into those who are within the White House! These folks can use clout against you! We (whistle blowers) saw, warned and spoke out when we were being called conspiracy nut cases.
1 | 2
Take action -- click here to contact your local newspaper or congress people:
America into becoming a Third World Nation within bailout
Click here to see the most recent messages sent to congressional reps and local newspapers
http://www.danneburleyshow.com
The views expressed in this article are the sole responsibility of the author
and do not necessarily reflect those of this website or its editors.
 Contact Author |
Contact Editor |
 View Authors' Articles |
|
|
|
|
| 3 comments |
|
I Agree 100%
Superb article. I too am a 911 truther, who has been supporting Ron Paul. America is in a downward spiral, thanks to the criminal activity of the Federal Reserve and the politicians who do their bidding. I urge everyone to watch Aaron Russo's "America Freedom to Fascism". We have lost our way and lost sight of the Constitution. The New World Order has us on a fast track to worldwide corporate fascism. by ronheri (0 articles, 0 quicklinks, 0 diaries, 256 comments [45 recommended, 0 rejected]) on Saturday, Sep 27, 2008 at 9:22:25 AM  (0+)
|
|
The truth
The middle and working poor classes will lose their property. The rich will buy the distressed properties up at fire sale prices, aided by government subsidies and bond issuances. When the right people own the right property, then federal funds will be avilable to help them renovate them. Our elected officials are shielded from prosecution due to violation of insider trading laws. Whatever happens, they make money. They are all heavily invested in the oil industry, the weapons industry, and the pharmaceutical industry. I would like to know how many of them are guilty of the same transaction that they sent Martha Stewart to prison for. by Matthew Peters (0 articles, 0 quicklinks, 2 diaries, 171 comments [4 recommended, 0 rejected]) on Saturday, Sep 27, 2008 at 10:04:08 AM (0+)
|
|
Reply: Inside Traders - Reverse the judgement on Martha Stewart Now
Thank you for your comment! The fact is that on the issue of bailing out Wall Street, those in the know are picking up stocks for $1.41 a share, they are waiting for the $700 Billion Bailout plan to go into effect where once it is done they will make a killing off the hands of the people again! People who are frighten to death with media hype on Wall Street's lack of ability to manage money! We are quickly moving into a third world environment they are allegedly as we are told the smartest people in the United States, who project 20 yrs into the future on the day to day functions of Government, World Finance and balance in the Ecomony within the USA based of factors Business, Trade, and our money but they are claiming they had no knowledge of what was happening until just a few weeks ago - please! We are being played and again we need to vote those folks out of office who had hands in this! Those who head "The Ways and Means committee, Financial Commitee, and the office of Checks and Balances. Look at how much money was spend to hear the case of steroid use in baseball! and other issues they tabled while the housing industry was collapsing all around us! Yes indeed the collapse was going on then and years before I knew this was happening reported housing fraud in the Chicagoland area and was just denied right from those within the Government and investigative agencies to look into fraud and corruption it was covered up lots of money was being made. Then on my daily radio program I had victims on with their stories who took their information into the justice system, filed motion after motion whereby the courts allow fraud within the courts by not ruling on cases where those who claimed to eviction were involve with theft within the mortgage industry. I got the statement of WE DON'T HABDLE THAT! FROM EVERY OFFICE I CONTACTED FROM THE POLICE ON UP and they those within insider clout attack me and my family using the police to traffic us, and defraud my bank to make me out as a criminal. I was told by those within and knew that loan officers were being killed over speaking out about the mess which was going on year back! Again no real investigate was done, those who had the position within the government to investigate did nothing, just fluff a few arrest here and there, but nothing that touch on were the money, so of which was being used in real estate to fund terrorist! Yep before and after 9/11 the treasury had within its records of investigation of money in real esate being used for terrorism read the stories about James White the business partner of James Bath it made Time Magazine! and how the borrower was being played within other schemes I saw them and reported it to the Attorney General of Illinois and gtot no where on a house I rented with a option to buy in Hinsdale Illinois the woman who rented it to me never owned the property lied about her real name, married a man who was using another false name and then got a mortgage from a company against the home they falsly rented to me as a first time buyer program used my phone number which I had reported and received over $100k after the loan was made to them! The man her husband had no job but a 700 credit score which was used to get the home for 340k which was really then only $254K and they got the different in hand on that house and three others in the area! from a mortgage business operating out of a beauty salon with the corporate offce which was inside a doctors office in Chicago! This was under the name of well known Mortgage Corporations! I went to court the there was an illegal conveynce pf deed allowed fraud on the court and I got evicted. The office of banks and real estate did nothing they claimed I did not own the home even after I told them that I had a rent to own contract. Then it got worse there were loan officers being murdered all over the US some arrest and those who loss homes within massive frauds within the courts were evicted to the streets with Judges allowing one sided Summary Judgements in housing courts. And these issues were tied into the later nightmares which ended up on wall street because on the secondary market borrowers paper was moved within stocks, and futures markets making millions and billions for others on the backs of the consumrer who knew nothing! We need to clean house adn get people in office who care about the rights and issues of the people! Americans spoke out to the justice system then and they refused to listen and or commit to the people that they served. They could care less again those who voted them into office. They want us to believe that not one of them had the ability to forecast this Mortgage Crisis prior to Wall Street, nor were they interested years back in starting to cleaning up the mess before it happened. Yes, 9/11 was an insider trader job too, look into what happened within insurance companies owing the binder on the WTC center, look at the bail out from the 1993 WTC bombing which almost made NYC bankrupt alone with one of the top insurers in the world. They were all bailed out all of them reformed and who paid for that one we did again. If this government sought the repayment of Haliburton over stated invoicing and all the other money which was paid out to privately held clouted earmarked businesses that were getting special treatment and contracts via our goverment did you know that we would have over a trillion dollars in revenue that could be used to bail out alleged Wall Street problems within this crisis!. Again the people need something back on this one, President Roosevelt backed citizen based ecomonic loans by giving war bonds which had interested added to them, today we get nothing! Not even a bail out program for those losing their homes within foreclosures who were placed at risk from these mad loans offered up to them. The people need to request that within this bailout program that bonds are issues to every American so that once this nightmare turns around the people will have something in return not in a rebate but something that gives them shares in the US, real voting power over the land itself. We need to stop NAFTA NOW! bring back industry and make manufacturing within the United States afordable for the medium and small size business to afford commerce here in the USA, which will create jobs and getting America's Back to work. Freeze Foreclosures in the USA, stop them now! ON all of the Millions of America's homes! In case matter they claim that the failure of Wall Street was based on the Mortgage Industry and fraud within the industry so therefore if they are investigating this issue with the FBI there should be a stay of all pending foreclosure action in the courts system, and reopening of previously cases heard due to the fraud on the court! The people have a right and course in this matter to be a party to the lawsuit, and investigate made by the FBI, and Justice Department this should include all previously heard cases in the courts going back as far at 20 yrs. There should be filings of Summary Judgements of the bases of BREACH OF CONTRACT. The violation of contractual act and civil rights violations due to acts of fraud on court record and other issues that occured within many of the cases judged whereby the arguments of the people were not allowed in these cases within many courts across the US. We need to go to Congress and the Senate, and requesting a meeting bring a group of people with on this issue and get those had investigative powers on the floor of Congress to considering creating a new Homeowners Protection Policy. Thanks for your comment call me at 1-630-666-8528 I am looking to form meet-up groups state by state on this issue. Goto http://www.danneburleyshow.com I would love to have your comment and lets work together on this one! Thanks D'Anne by DAnne Burley (11 articles, 0 quicklinks, 4 diaries, 3 comments) on Saturday, Sep 27, 2008 at 12:06:40 PM (0+)
|
Want to post your own comment on this Article? 
|
||||
|
||||||||||||||
Well Said (0) 
Touching (0) 
Funny (0) 
Supported (0) 
Interesting (0) 
Inspiring (0)
|
|
|
|
|
|
|
|
|
Tell a Friend:
|
Copyright © 2002-2009, OpEdNews |
