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The information on Groklaw is not intended to constitute legal advice. While Mark is a lawyer and he has asked other lawyers and law students to contribute articles, all of these articles are offered to help educate, not to provide specific legal advice. They are not your lawyers.

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Operation "Cleanscrub" | 130 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
Catch 22 for Homeowners
Authored by: Anonymous on Saturday, January 05 2013 @ 12:07 PM EST

I don't live in the United States, but I heard a lot about the Foreclosure
Crisis. The main thing that bothered me was how consistent the stories
were across the country, and ow many complaints you heard.

Large numbers of consistent complaints usually indicate a systemic
problem. Remember how Microsoft used to claim that most people didn't
experience Windows crashes, but how almost everyone knew someone
who had the problem?

The point everyone is missing, is that Capitalism worked perfectly this time.
The customers (the Banks) got exactly what they paid for.

Wayne
http://madhatter.ca

[ Reply to This | Parent | # ]

That's why complaints are handled differently here (UK)
Authored by: Anonymous on Saturday, January 05 2013 @ 12:26 PM EST
We don't need to know the law because we can refer to the regulator(s) etc. who
do. My own bank has been quite helpful in correcting errors when they have been
pointed out. Like trying to charge me for a mortgage change which they
themselves stated in writing would be free (to correct an earlier mis-selling
error).

[ Reply to This | Parent | # ]

Operation "Cleanscrub"
Authored by: Anonymous on Saturday, January 05 2013 @ 12:41 PM EST
The banks and lenders had these deep diver teams go in, flag possible procedural
errors that were then 'corrected' so the banks and lenders were off the hook.

Nice.
not.

[ Reply to This | Parent | # ]

Thomas Jefferson predicted this behavior - and the source!
Authored by: Anonymous on Sunday, January 06 2013 @ 05:28 PM EST
Thomas Jefferson said in 1802:”I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered".

This starts at the Federal Reserve (who under mandate from Congress controls the money supply - since Andrew Jackson), where they have printed too much money (to meet the demand for the dollar for international banking and trade). China, Oil states, Rusaia, Europe, S. America, Africa, all use the dollar. The total money supply, or the hyper-inflated world-wide dollar supply potentially EXCEEDS the actual domestic need, driving up the cost of living, taxes, etc inside the US. There simply is too much money per citizen in circulation. To make US labor more competative, we need less money, meaning what each earns becomes worth more... When worth more, then don't need to earn as much to live. Wages could go down as the standard of living goes up (to the point were labor cost in US then matches Asia, but, we still can then afford a home per worker due to the benefit of more work bwing done in US vs other places...and a good life then is the result for more here). Jefferson was right. There still is time to fix this, but the banks would not like what we would need to do, starting at the Federal Reserve. But, over the long term - real people not the banks will benefit. And, that is better for all, world-wide in the end.

[ Reply to This | Parent | # ]

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