It seems our government, for a change, has neglected to inform the homeowners in distress and foreclosure of their related investigations against the institutions which could have saved over 1 million homes from foreclosure. In the last 3 years Federal prosecutors have amassed 700,000 tape recordings and 125 miliion pages of documents. These are staggering numbers all leading to the same conclusion, the Defendants in Foreclosure are really victims.
In previous blogs I have informed homeowners of the investigations against Law Offices of David J. Stern, P.A. and Florida Default Group. This investigation was a joke, the person investigating for the Attorney General’s Office was not only a former employee of Florida Default but was working part-time for them, with the permission of the AG. ( You just can’t make this stuff up even if you tried) There were the investigations started by a Judge Boyko, a Federal Judge in Ohio against Deutsche Bank in which the judge dismissed the foreclosures. Similar actions have occured in NYC courts as well, in questioning the relationship, and sometimes the mere physical existance of, signers of sworn Affidavits. Last week the investigators in the Stern matter found that Stern’s title company’s subsidary, DocX, LLC, had filed papers with the Courts in Florida, Assignments of Mortgages and other legal documents, some of which were dated seven years ago, but notarized by a notary public that got their notary & stamp less than a year ago. ( see Videos) The abuses have become so obvious and flagerant, always based on the assumption that the average homeowners is either stupid or won’t fight back. The institutions, and attorneys have seemed to adopt the attitude that since they have been doing this for so long, unchallenged, this practice equates with legal compliance.
Now it appears that among the institutions named by federal prosecutors after the three-year investigation are Wachovia, JP Morgan Chase, Citigroup, UBS, General Electric, and other industry giants. Bank of America, which was also involved but will not be prosecuted under an amnesty deal, announced in a press release that it had voluntarily informed the government of its illegal actions and was cooperating with the Justice Department. One of the firm’s employees is a key witnesses in the case and reportedly explained the whole scam to investigators. What was the price tag of all this illegal activity you may ask? The answer is an unconceivable amount of $2,800,000,000,000 ( $2.8 TRILLION), and that is only one investigation over a three year period. Where will this end, the only answer I can give you is this: THE LARGEST TRANSFER OF WEALTH IN THE HISTORY OF MANKIND.
Yet, the amazing part of this is the fact that these institutions are permitted to continue to operate and take people and families homes away from them and utilize the money to “fan the fire”. They fuel the fire with Federal Bailouts, Off-Shore Banking, and Tax Evasion. Yet, the American homeowner continues to receive the brunt of this bureaucratic mess, an illegal one at that.
April Charney of the Jacksonville Legal Aid said it best, ” No good will come from bleeding the American homeowner“. There is an “army” of abused and victimized homeowner in America today with no government help in sight. The aforementioned institutions, by the time the “wheels of justice grind” the top executives and other “criminals” involved will have taken their “golden parachutes” and be long gone, again leaving the American taxpayer and homeowner defenseless and probaly homeless.