The Great U.S. Housing Market Foreclosure Robbery Of The 21st Century
Housing-Market / US Housing Nov 05, 2009 - 02:07 PM GMTBy: Robert_Singer
The Center for Responsible Lending estimates that there have now been 1,000,000 foreclosures filed so far in 2009 and the group expects the foreclosure number to double before the end of the year.
U.S. Home Vacancies Hit 18.7 Million on Bank Seizures (Update2) [1]
Thanks to our controlled and uncontrolled media, we know when you take the derivative of the foreclosure crisis you get those greedy predatory lenders at AIG, Goldman Sachs and Bank of America plotting to steal our tacky (I mean tract-y) houses.
Conventional wisdumb and the media always blame the usual suspects and FOX News wraps it up: "It's the age-old Wall Street vs. Main Street smackdown again"
Is this foreclosure for profit?
Michael DisInformation Moore thinks so.
Florida’s up and coming real estate “whiz”, Condo Vulture Peter Zalewski is featured prominently in his latest fake, muckraking film, “Capitalism, A Love Story.”
Moore explains that Zalewski specializes in foreclosed homes that his clients buy and later sell at a profit.
But in June, with 18,700,000 empty houses, Zalewski and all the other vultures found only 32,000 bottom feeders to buy them.
“Mortgage Modification could avert the crisis but then why are…Mortgage Modifications Still Uncommon Despite Huge Losses From Liquidation Sales”? [2]
“In June, the total loss from the write-downs on 3,135 loans was just $45 million. But the losses incurred in foreclosures because the industry refuses to modify the loans in the same period were a staggering $4.59 billion.” [3]
"There is 100 times as much money lost in foreclosure sales as there was in writing down balances in modifications." said Alan M. White, an assistant professor at the Valparaiso University law school in Indiana who analyzed data on 3.5 million mortgages held by some of the nation's largest loan services companies, such as Bank of America, Chase Home Finance, Litton Loan Servicing, and Wells Fargo -- the companies responsible for putting these mortgages into large securitization pools.
White’s take on the foreclosure crisis: "That is not rational economic behavior."
Given losses like these, White said he was “perplexed that lenders and their representatives were resisting reducing principal when they modify loans.”
His data shows how rare it is for lenders to reduce principal.
The foreclosure paradox: Foreclosures breed foreclosures. Cutting you a deal to keep you in your home is a win-win-win, the lender would keep getting payments, the housing market and the economy might begin to recover.
The American Dream, an environmental nightmare, fueled our consumer society. The American Nightmare, an environmental dream, is fueling the foreclosure crisis.
October 2008, to anyone not in denial, marked the last day the men behind the Federal Reserve, all connected to the House of Rothschild will create money out of thin air so the middle class can “trash the planet” with houses, second houses, cars, RVs, TVs and DVDs. [4]
So who is directing the mortgage industry to foreclose on houses they don’t want, can’t sell, and in the process are adding huge losses to their bottom line?
“Brian Deese, special assistant to president Obama for economic policy shuffles back and forth from the West Wing to the Treasury Department dismantling the US Home and Auto Industry and rewriting the rules of American “capitalism”. [5]
Why?
Full Foreclosures and Full Un-Employment is on track to happen before 2012.
"Capitalism, No Love Story" a Call for Revolution
Should we trust Michael Moore to tell us who our enemy is?
The truth about Michael Moore was at www.moorelies.com but someone took it down.
No problem, as of today you can still get the book: Michael Moore Is a Big Fat Stupid White Man.
Michael “white tennis shoe” Moore has seen the enemy and it is Wall Street and Goldman Sachs.
Bob and Harvey Weinstein produced the Love Story with a $1 billion fund from you guessed it….Goldman Sachs. [6]
The purpose of the movie is no secret. Moore lays it out in terms even a child can understand: “grab your torches and pitchforks... and rise up or else—“he's (Michael) done making movies.”
If you find his films incoherent and disjointed you’re not alone. Michael makes films according to “The Parallax View.” Joe Frady (Warren Beatty) in the 1974 is subjected to a film that conflates positive images with negative actions in order to brainwash him into becoming an assassin.
We are being conditioned, brainwashed and manipulated to rise up against The Powers That Be (TPTB).
Michael Moore is fomenting a middle class revolution. Or at least acts of violence.
Is it possible TPTB want a revolution against…themselves?
Yes, it would give them an excuse for …Martial Law.
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Robert Singer is an Entrepreneur and the author of a forthcoming book on the Federal Reserve. His articles cover politics and the financial and environmental implications of our consumer society. The articles have been main headlined and can be found on numerous popular websites: Marketoracle, Silverseek, Goldseek, disinformation.com, Daylife, LAprogressive, Canadafreepress, Opednews, Daily.pk and many of the Wordpress sites. Richard Daughty, The Mogambo Guru, proclaimed him a Junior Mogambo Ranger (JMR).
Footnotes:
[1] U.S. Home Vacancies Hit 18.7 Million on Bank Seizures (Update2), Bloomberg.com, Kathleen M. Howley
[2] Mortgage Modifications Still Uncommon Despite Huge Losses From Liquidation Sales, The Huffingtonpost
[3] So Many Foreclosures, So Little Logic, July 4, 2009, The New York Times
[4] “We don’t want your tired, poor, huddled masses yearning to trash the planet” The Federal Reserve, 2009, Robert Singer
[5] The 31-Year-Old in Charge of Dismantling G.M., David E. Sanger, The New York Times: May 31, 2009
[6] How Goldman Backed Moore's 'Capitalism' Movie, www.futureofcapitalism.com/2009/09/how-goldman-backed-moores-capitalism-movie
By Robert Singer
Robert Singer is an Entrepreneur and the author of a forthcoming book on the Federal Reserve. His articles cover politics and the financial and environmental implications of our consumer society. The articles have been main headlined and can be found on numerous popular websites: Marketoracle, Silverseek, Goldseek, Daylife, LAprogressive, Canadafreepress, Opednews, Daily.pk and many of the Wordpress sites. Richard Daughty, The Mogambo Guru, proclaimed him a Junior Mogambo Ranger (JMR)
Dem Bones is Connected To De Debt Bone by Robert Singer, an analysis of the Federal Reserve, can be found on numerous popular websites including G. Edward Griffin’s Unfiltered News. Edward Griffin is the author of,the definitive work on the Federal Reserve, The Creature from Jekyll Island.
Meat, Milk and Motors: The New China Syndrome by Robert Singer, an essay about China first released in February 2009 has been widely posted and read on the Internet. Quotes from the article can be found in The Wall Street Journal Digital Network and the essay was the Top World Story on the Pakistan Daily website for over a week.
© 2009 Copyright Robert Singer - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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