California Court of Appeals Rules For David & Against Goliath

In March 2009, Mrs & Mr Merritt filed a federal law suit against Bank of America, Countrywide, Wells Fargo and more than 100 “Doe” defendants for fraud, unfair business practices and other predatory lending allegations.

Mrs & Mr Merritt in March 2006 purchased their first home. The Merritts were set to put 5 to 10% down payment on $719,000 place in Silicon Valley which is about 2 miles from yahoo headquarters, 5 from ebay and google etc.

One of their 3 banks was Wells Fargo who the Merritts asked to fund their property; however, Wells Fargo referred them to Countrywide Home Loans, saying that they would serve their needs better. Their credit rating was above 700. Two other lenders were willing to set them up with a loan running about $3,800 a month installments which would be applied in part to build up equity.

Countrywide Home Loans in Menlo Park California manager Mike Colyer, convinced them that he and Countrywide would provide a loan that would beat out their competitors. The installments were guaranteed to be between $1,800 and 2,200. The Merritts fired those other lenders that they were working with, removed their loan contingency and looked forward to closing on their new home.

As a back drop, this was their first home, and just 4 months before David and Salma were married. What happened next, they described, “was akin to feeling like you’re being flushed down the drain of a toilet.”

Two days before close of escrow, Colyer presented them with a 5,200 monthly which compeled them to promise to walk away. Coler then switched up and claimed claim that a subordinate made a mistake. He swore that he would take care of it and give them the originally promised $1800-$2200 deal.

On the day of Close of Escrow, instead of inviting David and Salma into Countrywide’s or the Escrow offices, Colyer and others told First American Title Company agent First Financial Title, to send someone to their Mountain View California apartment and convince them to sign documents which later turned out to be blank and filled in later by Colyer and others. On top of this they left the Merritts with a blank set of documents.

Being first time home buyers, the Merritts had no idea what information they were supposed to receive. Consulting a lawyer did not even occur to them because they presumed that those in the business of originating home loans were honest, or at least regulated by government. Their own agent was less than helpful. Nonetheless The Merritts were promised that filled-in docs would be sent their way, but those would not come until 3 years later after The Merritts stopped making mortgage payments and threatened litigation.

Well, once David and Salma received the filled-in docs, The Merritts consulted a lawyer who explained in simple words that they had been defrauded out of more than $200,000.

David and Salma now stopped making mortgage payments and David stopped spending 70 hours a week on his own corporation that was manufacturing and marketing products, his book marketing efforts as well as a W2 job, and he plunged deeply into jurisprudence. i.e. the study of the law.

The Merritts filed a federal lawsuit in San Jose District Court dismissed entitled Merritt v. Mozilo, Countrywide, Bank of America, First American Title, MERSCORP, Sambol, Colyer, Wells Fargo and others, Case No. 09-1179. The complaint charged the defendants with federal RICO, TILA, RESPA and state law violations. Former Judge Ware dismissed the case and it is current schedule for Oral arguments before the 9^th Circuit Federal Court of Appeal’s November 9, 2012.

In December 2009, David and Salma brought a State of California lawsuit against the same parties, including Angelo Mozilo, the chief fraudster who walked off with over One Billion from Countrywide as its CEO. Since then, the Merritts have witnessed all of the states attorneys generals and federal prosecutors cut deals so that no prison time would be served and so they would all keep the bulk of their money intact.

Their California lawsuit, Merritt v. Mozilo et al, 109cv159993 (Santa Clara Superior Court) was filed and their first judge, kevin Murphy, dismissed Wells Fargo from the case and so the Merritts appealed. In the meantime The Merritts received a new judge Mark Pierce who, although he dismissed MERSCorp and First American Title Company, the judge has held that Countrywide along with its CEO Mozilo, President David Sambol, Mike Colyer and others shall face Fraud and several aspects of Unfair Business Practices. Trial setting conference is set for November 2012.

Significantly, the California Court of Appeals called for David to come to its chambers to present oral argument. Unlike the wealthier Federal counterpart, they did not appoint counsel to argue, but David had to give oral argument.

It was his first ever standing before Appellate Justices. And it was surreal.

The Courtroom itself felt futuristic, kind of like Judge Dread’s courtroom that Sylvester Stallone played in. There were three respectful and serious faces. One female and two males. It was actually an inspiring, nervous encounter for the Merritts.

On December 6, 2011, David presented their case and Wells Fargo $800 an hour lawyer presented theirs. By December 19, 2011, the California Court of Appeal’s reversed judge Murphy’s dismissal of Wells Fargo.

Three days before X-mas the Merritts received the Court of Appeals decision.

The Justices rejected his 3 procedural grounds for reversal, one of which was the first time the issue has ever come before it, and one issue that focused on “the merits” of the case. i.e. whether or not the factual allegations of the complaint were good enough to go to trial.

The most important part of the opinion is found from pages 31 to 35, which holds that the Merritts lawsuit shows that Countrywide committed fraud and that it had co-conspirators, one of which is clearly Wells Fargo. That judge Kevin Murphy made an error in dismissing Wells Fargo from the case and the trial court must add them back into it to face conspiracy to commit fraud charges.

Now the Merritts understand what it actually means to declare “HALLELUJAH!”

Yes, David and Salma Merritt are facing the 1% all by themselves, with, they believe, with the help of God.

The case is currently back before the California Court of Appeals on four other issues.

Enemies Within The United States

What has become very very clear is the fact that while our attention is focused on “enemies” outside of our country – e.g. Al Quaeda, Iran, North Korea and even Mexicans – a far more destructive group of persons are attacking the United States from within. They are causing more destruction from within than any enemy can achieve without.

These internal Enemies Of The State, are not Arabs, Mexicans or the thugs who steal, rob and kill throughout our land, but are those who have penetrated each White House administration since Nixon with Double Agents who have not only gathered  intelligence for their masters, but have been selected by presidential administrations to actually design, write, implement and enforce federal and state policies which directly taps into our national treasury for their own and their masters personal gains.

The United States is the envy of most of the world in regards to the material advancements that it has developed for the vast majority of its citizens. Wherever I travel throughout the world I always find many who wish that they had my US Passport in order to leave their home for mine. Nonetheless, there are wonderful things about other cultures and places that we no longer have. E.g. tight and respectful family relations, appreciation for soft bed, clean air and endless supply of food to choose from every day.

What I also find in every country I visit is that there are those who see the US as a dominating tyrant who interferes in other country affairs in order to enslave them or transfer their resources to the US. It is certainly no secret that we make up less than 5% of the world’s population here in the US, but we consume at least 30% of fuels, about 50% of food and of course 60% of world’s energy. There are no other people who are fatter than Americans on average. We also have some of the worst health rates. All of this translates into tremendous waste of our finances.

Ironically, the so-called “Main-Stream” media keeps us focused mostly on the state of affairs of others outside the country or when they report on things within, they are the very small petty bad guys. You know, the guy that’s doing petty robberies or killing locals out of their suffering human condition. Very little effort and attention is actually paid to those who have very effectively enslaved us, our children and our children children. When it comes to those who actually kill and murder Americans, not out of individual suffering, but out of greed and motivation for money, the media simply repeats whatever they are told to report with no verification.

We know from history that our two recent Bush presidents was influenced by their grandfather Prescott Bush who was officially an American Nazi who supported Hitler’s Germany and wished for this racist rule to come to America. We know that our US Military was involved in the assassination of the Kennedy brothers who were the first presidents since Eisenhower to stand up to the Military and not tow its line. There are examples after examples, but what remains consistent is that the evils that continuously rise up in America always comes from groups who have infiltrated our government and taken over decision-making. If they cannot buy you out, they will kill you.

President Obama is not destined to be killed by plotters simply because he is not denying these infiltrators access to the US Treasury. In his heart I am sure that he would love to stand up to these groups, but he reasons that he can do more good staying alive than being assassinated.

Back in the 1930s, President FDR and decent Americans from the West and South stood up against the North Eastern Banking brokers and took away about 80% of their power to enslave Americans. Inherent to banking is the need to have others who are in debt to you. If there are no debtors, there is no way to make money. Bankers do not have the mind to produce things which can actually benefit or enhance society, they simply wish to make money and have no real moral or ethical interest in how that is achieved. If cocaine was legalized tomorrow, Bank of America, Chase, Wells Fargo and the rest of the 13 major banks would become the largest drug pushers in the US.

Glass-Segal was a major piece of law that prevented bankers and other financial folks from getting too big to fail. The reason FDR and others in the 1930’s enacted laws to keep banks and financial institutions small was due to the inherent fraud that arose, the enslavement of Americans and more importantly, how it always took down the US economy.

The solution to the financial industry was to follow the Military, Medical and other industries by training men to penetrate into governmental positions where decisions would be made that affected banking. Of course billion of dollars was targeted federal and state officials, but it was the infiltration of spies into the White houses successfully, and congress, since at least President Nixon’s administration. They have only gotten stronger since.

Our Federal Reserve, Treasury and other key regulatory institutions are run by Wall Street and Banking trained persons. They do not have any allegiance to the Constitution nor the American People. They are hired by bosses who simply wish to suck money out of US coffers and have Americans forever in debt to them. And a small majority of Americans have consistently hired US Presidents who hired these types of folks. I am not only referring to the Bush’s, they obviously duped us – the son even stealing the presidency from Gore – but this small majority did not either have the sense to see through Carter, Reagan and Clinton who each kept open doors to Wall Street and Bankers, or this majority did not hold these leaders feet to the fire.

If you can not relate to this, then ask yourself who in the hell does the US owe so much money too? How can banks and Wall Street firms who commit thievery in public day light receive over 2 trillion dollars and counting?

There is more however.

The real treachery is not simply enslaving us, but  taking our money and creating a very artificial way for making money. Namely, Real Estate.

The real estate bubbles that have been recurring since 1980s is a direct growing result of our dollars being focused on the real estate market and not other industries. Before Reagan and the Democratic and Republican congresses tore down Glass-Segal Act which prevented depressions for 50 years, most investment dollars went into American industries which actually produced products and things that could be sold to ourselves and the rest of the world. By taking 80% of our investment dollars and putting it into real estate simply because the top 1% of Americans can make billions more quickly and die with billions more in a trust, we have supported a model that dramatically inflates the prices of our homes while at the same time setting most home owners up to never be able to actually pay off their home and in many cases end up ultimately in foreclosure.

Imagine that: we can all have homes but with no strong companies to employ us or no real way to have our own business unless it’s in home development.

Am I really missing something here or is this plain stupid?

The American People are truly under attack. Our enemies are others who say their Americans, but are in fact traitors. They have duped us into voting them into political offices – the Bush’s, Clinton, Reagan, Carter – and they coerce those with ideals such as Obama, into their camp with a mixture of death threats and lots of money and promised rewards.

We need to pray for insight and a spirit to fight back. We are selling our children off as slaves. However, what is more critical is that we must stop voting for officials and expecting them to do the right thing. At least 80% of the people who surround Obama are pushing their own or another’s self interests and not those of American People. Americans need to infiltrate these Americans in order to overpower the traitors who are in there now.

Bank of America Predatory Strategies

In January 2008, Bank of America officially announced that it would buy out Countrywide Home Loans and its mother or Holding company Countrywide Financial Corporation with all of its subsidiaries.

Countrywide had perfected predatory lending. It held itself out as being America’s number one home lender which could be trusted to do more for the home buying consumer than what any other lender could.

In the 1950’s and 60’s Angelo Mozilo grow up in the Bronx New York witnessing how the Italian, Jewish and other Mafia performed racketeering crimes upon New Yorkers. Key among the crimes was loan sharking, where loans were afforded to people who were usually desperate for funds and had no other means of securing such.

In fact Mozilo’s father was targeted with efforts to export him as a butcher. It is not clear whether the Mafia controlled his butcher father, one thing is clear today, Mozilo learned how to butcher fellow Americans through loans which transferred over a trillion dollars in equity away from Americans and into his and others pockets.

The real news is that Bank of America is quietly turning Countrywide in not out of a sense of duty, but to divert attention away from the reality that BofA itself is, and has mostly been since 1988, a predatory lender.

The strategy is to ask Attorney Generals of various states where Countrywide ran its predatory operations, to prosecute Countrywide civilly. BofA bought Countrywide for pennies on the dollar, made a sweetheart deal with Bush and Obama to have the FDIC unofficially guaranty that it cannot have any lost for taking on the Countrywide mess, and in exchange, the Feds and States will settle for very small penalties, relative to the gains, which do not directly help any of the consumers, but resets them up to default later so BofA can take their homes.

I do not like conspiracy theories, so I did some deep digging through the Freedom of Information Act and employed several investigators which in all pieces together a circumstantial puzzle that reflects these and more things.

It is quite clear, for instance, that each Attorney General who sued Countrywide had already planned with BofA lawyers before the lawsuits were filed in respective state courts, what the settlement dollar amounts would be. Just a month ago, the FTC filed a fraud and other charges lawsuit against Mozilo, Sambol, Countrywide et al, before 30 days passed, the settlement was filed for 108 million.

This clearly indicates, from a legal perspective, that BofA clearly sees that it has liabilities out there. The genius of this strategy is that mitigates the impression that it is a Bad Guy or that it has anything to do with predatory lending. Ironically, BofA has consistently been one of the top 20 de facto predatory lenders by way of owning subsidiaries, just as Wells Fargo and others, which targeted unsophisticated loan purchasers, minorities and elderly folks.

What very few lawyers have recognized that BofA and other lenders, including Federal puppets Freddie Mac and Fannie Mae, are feverishness working to cover up MERS, the Mortgage Electronic Registration System, which is a Racketeers wet dream come true.

Throughout early American history, property become the most important aspect of being American. In Europe all the land was hoarded by the folks who called themselves nobility. Everyone else were serfs, or slaves. Coming to American meant that you could get some land and be a Noble unto yourself. What developed here was the recording of who owned what property. Later on, when folks started putting up their land for loans or for supplies, the Public Policy formed whereby if you wanted to have a viable claim to a land, and you wanted to have it in the turn in which you had a right to, you had to record your property publicly.

This not only maintained a record to which subsequent lenders could refer to in order to determine whether their was any of the pie left for them to carve up and lay claim to, thereby preventing the land owner from committing fraud on lenders, but just as importantly, it was designed to prevent lenders from committing fraud by making claims on property to which it had not bona fide lien or hold on.

Fast forward to 20th Century Wall Street/Bankers. MERS was created to be a private, not public, recording bureau not only to record, but to maximize revenue.

Publicly MERS pretends it simply helps lenders save money by avoiding local public recording laws. What evidence now shows is that it allows lenders to create many loans out of one and resale them over and other so they can supply mortgage backed security pools and to evade billions in federal taxes. The IRS actually started and investigation on this, but the Bush Administration called them off. Why? AIG of course was a major Bush stronghold and they were belly deep in MERS and the gang.

The savings and loan frauds of the 1980’s was actually the Bankers and Wall Street firms test run on massively stripping equity out of Americans. The set the stage with Reagan, the Democrats and Republicans by first getting rid of Roosevelts Glass-Steagal Act which prevented depression for 50 years then Bush-Republicans-Democrats to get rid of the authority that bankruptcy judges had from that same 1930s era, to reduce a home owners principle on their home, structure affordable payments and tell the banks to accept the lost.

The American Dream of Home Ownership is literally just that, a Dream.

Americans cannot own their home now unless, and only if, they purchased their homes before the 1980s or they are millionaires or otherwise have the straight cash to buy the home.

The bankers, Wall Street and mortgage lenders have designed loans where there is no making money off of a 30 year fix rate loan, but only short 5, 10 or maybe 15 year terms, and even then they are adjustable rates in order to maximize their profits and to compel home wanna be owners, to be forever enslaved to the Dream of working to pay off a loan that is impossible to pay off short of the foregoing exceptions.

We must come together and form a real team against this threat. I remembered reading in high school how our forefathers warned about the threats that have now over powered us, but I use to believe that it could never happen in modern sophisticated times.

I personally see now how most Senators and many Congressmen are actually treasonous traitors. I believe that they have acted worst then any terrorist has, for they are Trojans who gain our trust but sell their very souls to bankers who positively aim to always enslave us. Just as they are intentionally creating foreclosures on individuals, they have collectively foreclosed on America.

The Sophiscated American Slave

How many of us can actually wake up tomorrow and say: “The hell with it! I’m not going to work another day for that company. In fact, I’m simply going to take off a few years and wait until something comes along that I truly like”?

If you are one of the few who can truly say this, and do it, then you are several degrees better off then today’s American Slave.

When one has a relatively decent knowledge of history, not just American history, but human history, every current event taken by top public players take on a meaning that is far beyond today’s issues.

Walking my 2 miles back from 24 hours fitness, I was struck by just how right things were going in the United States before these massive trade deals like NAFTA and the 1999 WTO deal with China that would give China free access to the US market, but not give the US free access to the Chinese one.

In both 1992 and 1996, Ross Perot ran for president of the US warning Americans that their politicians were selling their and their children future away. He clearly predicted that the trade deals that were being worked out by state and federal leaders would cause a sucking of jobs right out of the US and harm American life styles.

Of course he stated a lot more than this, but this is the jest of it.

Before Perot we have always had Ralph Nadar who has been one of the most sincere advocates for Americans in the late 20th Century. He truly tried his best to pick up where the Civil Rights movement had dropped the ball. When so many became complacent with the successes of the Civil Rights era, he became embolden and forced politicians to allow consumer protections that have been attacked by corporations ever since.

What truly gets me is how the grown up adults in the 1980s through 2010, have not only voted in to the Presidency and congress men who either owed their allegiance to big business, or became influenced by such, but more importantly, quietly sat back and let these political parasites strip away freedoms of life and the pursuit of happiness.

America is pretty much close to a very large Slave Plantation. That’s right. What the southerners of old practiced as a way of life, has now become the most sophisticated social machine in history. We are all sucked into this notion that freedom is simply the ability to roam around without physical chains, to have properties we call “The American Dream,” and amass as much debt as we like to. But is this truly being free?

When I first visited Dubai, part of the United Arab Emirates, about 4 years ago, I was impressed with amazement at how such a modern wealthy world was being erected in the desert of Arabia. But after staying just across the Indian Ocean for a couple of months in Pakistan where the poverty is in some cases is less than what I’ve seen in India itself, I was now disgusted that so much wealth could exist so close to so much poverty.

Then I spent more time in Dubai where I learned the arrogant, Master like attitudes of many of its native men and women, and also the defeated Slave like attitudes of those who were imported to do all the menial work.

Upon further investigation I learned how the government of Dubai had very tight controls on who could set up shop in the country for doing business and more importantly, who can hold political office. Unless you are part of an elite ruling class who is prepared to tow the line of just a few dominant families, political office is out of reach. The main purpose of this is to ensure that the very few are always being served by the many.

Similarly the same model is being applied in the US, only in a much more sophisticated form. The irony is that in Dubai it is done through a kind of monarchy cloaked in an attempted Democratic facade. The US is a bona fide democracy where its people have the direct power to choose whom they want, in theory, but in practice most main stream media manipulates Americans into behaving as the American elite wish them to.

There is no question that vast majority of politicians either end up by becoming corrupt once in office, or do not exert the well to truly advocate for the actual people who vote them into office. Once in office, they see that the corporate, military, prison, health and other interests’ wields so much power over common people – holding a kind of sword to doom them to hell or raise them to heaven – that they become the stooges of these interests’.

How is it that the adults today, particularly those above 40 years old, have the ignorance of allowing governments to saddle future generations with their debt? It is absolutely a sign of insanity. If today’s youngster’s and those unborn, could actually see their future, they would throw a real, out right revolution.

The only real viable solution is for people to have at least one strong moment and push representatives to enact laws which allow any common citizen to sue their own representatives in Federal and State courts and to enact a law that lets those who voted for their choice of political leader, suffer the consequences of their choice. Why should everyone suffer the mistakes of the ones who voted in incompetent or insensitive politicians?

Case in point: Social Security is doing so poorly precisely because certain previous presidents as Bush II and Reagan cared only for the most wealthy. They both opened the doors to the US Treasury as if it were the elites personal bank. Well, in fact it is their bank. The build banks and Wall Street firms directly on the backs of common Americans, holding up a dream of wealth that is granted to only relatively few, while the majority become the slaves supporting them. Should those who do not vote in such political characters suffer their wrongdoings?

It’s a travesty of justice.

Everyone who voted for Bush II and Reagan should not be getting SSI today. They really should be pulling themselves up by their own Bootstraps and not relying on such a Governmental Welfare Plan. Americans should be calling for the government to shut down Bank of America and all the Wall Street firms that stole billions from them and liquidate assets for distribution to local honest banks and The People. And most of all, our right to sue the representatives who are setting us and our children up to be modern slaves.

National Home Loan Recall

There needs to be a commonsense act where all mortgage lenders from Mom and Pop banks up to B of A are ordered to recall every single loan that they issued to home owners just as auto producers and other manufacturers will recall products or produce that are known to be defective.

I truly do not understand why this has not been a central part of the Government plans.

Evidence is mounting more and more which shows that real culprits behind our economic ills has been individuals at the helms of Wall Street firms as Merrill Lynch, Lehman Brothers, Moody’s, Dune and Bradstreet and lenders as Wells Fargo, Countrywide, B of A and others, who conspired to strip the equity out of American homes and transfer most of it into their own hands and other investors who are not Americans. That’s right. American investment firms sold off American property to hedge funds and other negotiable instruments that were picked up by many American institutions and foreigners. Instead of industry and the things it produce being the backbone of Wall Street investment, they pushed Reagan and other administrations to deregulate the money industry so they could sell American property. The results have been horrible for the common folks more than any other.

The Center on Public Integrity has found over 75% of the loans issued in the last decade were defective products in some area. Contracts were made which were in fact illegal. Falsified loan and other documents just scratches the surface.

Bottom line: we need for President Obama to begin mandates that directs all lenders to recall their loans and redo them. This is where the bail out money should be going. Modifications are not working because they are keeping home owners in the same predatory loans that we need to escape from. We need to go back to traditional loans, and simply stop penalizing borrowers with higher fees. If a person is such a risk on borrowing, then why lock them into higher loans? This means that you’re making them even a greater risk. It’s insanity!

Slavery Still Alive In America Through Wall Street and Mortgage Companies

What is absolutely extraordinary is the fact that there is a constitutional ban on slavery yet our government has authorized it by way of creating laws (or striping laws away) which gives free rein to non bank and banking mortgage companies the freedom to not only strip the equity from american homes, but to additionally siphon off trillions that we and future generations will have to pay.

When you evaluate our history in this area, one truly thinks that its banking perpetrators are very hostile enemies of the common American. For their actions are actually trapping us in a mess not of our own choosing, but a trap orchestrated by financial masterminds who have an insatiable greed to suck money from us.

The mortgage industry in general is a good thing when it is your local community bank or Credit Union. Theoretically it can be good if under real regulatory control, but politicians and bureaucrats typically do not put the common people first. They put those with the largest purse first. When quantity and the elite are the focus we have repeated financial failures. Capitalism itself is not evil, but American capitalism truly is.

Back in the Carter administration, the door was opened to non-banking lenders to not only issue mortgages, but mortgages that could be sold on Wall Street. It would take a couple of decades for Countrywide and its elk to exploit the new laws, and for Reagan to deregulate or not regulate at all, but in principle once the non banking mortgage companies began to run out of folks who could afford to put 10 to 20 % down on a home purchase, they identified people who could not afford such as their next frontier. The problem was where would they get the money to finance these people, the government wasn’t going to back them.

Then came Wall Street and its rating agencies.

Wall Street is a parasite that never dies. It has an insatiable appetite to consume. It would be no exaggeration to characterize it as the metabilism of a capitalistic society. When you do not feed it, just as our bodily metabilism would eat our own bodies internally if not feed, Wall Street eats its society when it appetites grows and there is not enough external food for it to consume. Those politicians who pushed to invest Social Security on Wall Street were bought out by Lobbiest who worked for Wall Street firms who knew this.

In the late 90’s through 2000’s, large Wall Street firms began courting non banking mortgage companies and working out agreements where mortgages would be put together in “Securities” that could be rated by the rating agencies Moody’s, Standard & Poor’s and Fitch as investment quality securities which investors could buy. For the sake of simplicity: Imagine if you received A’s throughout your college or school years, you would be a good risk for a company to take in hiring you to do a job for them. Whereas getting F’s would be a poor investment.

Investors relied on the rating agencies to grade securities so they could weight risks’. What they did not know was that the heads of Wall Street firms had conspired with the heads of rating agencies to give A’s to mortgage securities that deserved B’s, C’s, D’s and yes, even F’s. Politicians know this but have been threaten by Wall Street and rating agencies power over there economic lives. For example, only Georgia and New Jersey have been bold enough to pass anti-predatory lending laws that prohibit sub-prime loans with financial liabilities and otherwise protected the consumers. The rating agencies downgraded these states Rating in order to make it difficult or more expensive for them to get loans and other benefits on the world market until these state politicians reversed their laws, taking away the liability for predatory lending.

This opened the door wider for greedy businessmen such as Countrywide Angelo Mozilo and others to train thousands of employees to falsely portray to Americans that subprime loans were the best choice for them, when in fact conventional loans or no loan at all was. The reason for this was if they could get Americans into sub-prime loans, they would then be assured in transferring, or stripping, the equity from American homeowners and taking it for themselves. This mortgage crisis was nothing sort of transferring equity from millions of Americans over to a few.

Angelo Mozilo, Kenneth Lewis of Bank of America, John Stumpf of Wells Fargo and all their lower lieutenants have walked away with BILLIONS of dollars. Each one of them had no more than a few thousand dollars when they first started out. The same is true, and even worst for Wall Street King Pins. Wall Street gave these incompetent greedy men billions of dollars of American money, knowing that it would all crumble at some point. They were never concerned about losing other people money, just like Bernard L. Madoff who intentionally stole over 50 billion of investor money. In fact, the culture on Wall Street is to STEAL others money if they are not capable to increasing it through Wall Street’s gambling techniques.

The bottom line is that we are not being protected by anyone in Congress or our state houses. They are using 90% of Americans as slaves. They set up these games for us to play in, with the cards stacked against us, and ensure that we end up in debt collectively if not individually. Not only do we have to pay our way out of these trillions that are being stacked up, but our future children for the next hundred or more years. At some point a generation is going to raise up who has enough guts to revolt collectively. Only a few are ready to do so now. We are all like the frog who is getting cooked ever so slowly, not knowing that we’re heading towards a boil that is going to kill us.

Victims of Predatory Lending Are Being Preyed Upon Again

The Center for Public Integrity has reported in their 88 page report entitled “Who’s Behind the Financial Meltdown?” that billions upon billions of dollars were poured into the coffers of John McCain, George Bush, Cheny, Hilliary Clinton and many other public officials, in order to influence them to deregulate the mortgage industry and allow a kind of financial orgy to ensue. Countrywide, Bank of America, Wells Fargo and others were major contributors.

We all now know how their investments resulted in our global crisis; what few are pointing to is how it is continuing.

Ironically our Change President Obama has supported and even helped push through spending Bank bail out measures that exceeds One (1) trillion dollars. The short of it is that 1 trillion dollars could have actually been committed to an entirely new, independant banking system which could have extended refinancing to every single qualified home owner throughout the US; refinanced them at their home’s current market rate; extended credits/loans to every single small business throughout the country who was struggling with payrolls and new equipment purchases and lifted the economy at least 20 times more than where it stands currently. This new bank could be the U.S. People’s Bank ran by citizens on a credit union model. After all, it is all of our money, not theirs alone!

Obviously this would have called for the bankruptcy of all those poorly ran organizations and the denial of millions of dollars in payments which have been, and continue to be made, to key persons who were part of creating this mess.

This entire drama is illustrating just how corrupt humans, particularly men are. There is very little regard for the average citizen and a complete disregard for honesty and ccaring. Our public officials are voting for the interests of multimillionaires and has obviously corrupted President Obama.

Now the banking and mortgage industry are not the only culprits here. Oil companies had the most perfect timing in stabbing our economic heart with their outrageous oil and gasoline prices. Yes, yes Europeans and others pay much more, however, American people have and continue to subsidize the oil industry in numerous ways which makes their empires possible. Even the Saudias owe their current abilities to America who took down Saddam Hussein.

There is now an entire Cottege Industry which has sprung up where persons are calling themselves loan auditors, loan modifiers and more. They are contacting the very citizens who were already victimized by this all, to trust them to help them out for several thousands of dollars. The government is doing very little to notify the Public about these dangers and are condoning the culprits. Disperation breeds ignorance.

The only way to get out of this nightmare is for all of us to take conscious efforts to wake up and take actions with our representatives that calls them on their alliances and to become representatives ourselves in some form.