Butt-Reaming On Foreclosures - In Process - UPDATED in [Market-Ticker]

Posted 2010-12-15 10:53
by Karl Denninger
in Foreclosuregate

Butt-Reaming On Foreclosures - In Process - UPDATED

Watch here: http://c-span.org/Watch/C-SPAN3.aspx

(Active right now)

This committee page on this hearing is here:

http://judiciary.house.gov/hearings/hear_101215.html

Amazing stuff.... a litany of abuses and frauds....

Incidentally, if you wish to believe Deutsche's nonsense, read the following first:

http://market-ticker.org/akcs-www?post=174590

And particularly:

http://market-ticker.org/akcs-www?post=174164
("On The Empty Box Defense from the ASF")

and

http://market-ticker.org/akcs-www?post=173831

Discussion below (registration required to post)

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User Info	Butt-Reaming On Foreclosures - In Process - UPDATED in forum [Market-Ticker]
Vegasradar Posts: 8721 Incept: 2007-07-11	that lady is giving them a bitch-slap HOLY CRAP! ---------- Be the change you want to see in the world. ~Mahatma Gandhi 2010-12-15 11:00:49 Permalink
Etz Posts: 13921 Incept: 2007-06-26 LA	Good for her. Those stooges in congress deserve to be in jail as much as the banskters. ---------- Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora. 2010-12-15 11:07:58 Permalink
Gates Posts: 6350 Incept: 2008-01-29 Scottsdale	HOLY **** - they are just ripping the GUTS out of the banking complex it will be VERY telling to see how these asshat congressmen react to what is being said - 100% damning testimony Last modified: 2010-12-15 11:11:33 by gates 2010-12-15 11:10:27 Permalink
Tallystick Posts: 2264 Incept: 2009-09-20	**** Tom Deutsch. He's made the alpha thug list. Last modified: 2010-12-15 11:13:28 by tallystick 2010-12-15 11:13:05 Permalink
Jal Posts: 519 Incept: 2009-03-25	http://judiciary.house.gov/hearings/pdf/.... Statement of: Tom Deutsch Executive Director American Securitization Forum HE IS SPEAKING NOW Get a rebuttal ready 2010-12-15 11:14:06 Permalink
Bigsapper Posts: 2471 Incept: 2010-06-25	Glancing through Deutsch's prepared remarks, it appears he's calling out Karl. This will be fun. 2010-12-15 11:19:13 Permalink
Genesis Posts: 131440 Incept: 2007-06-26	Deutsch has run the exact same testimony three times now. And I've screwed him to the wall, as has Yves and others, twice already. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2010-12-15 11:20:24 Permalink
Fatso Posts: 3239 Incept: 2008-02-03 Mars Hotel	Wow, Christopher Peterson is laying out the problems with MERS, bitch slapping the banksters! YEAH BABY! 2010-12-15 11:20:25 Permalink
Genesis Posts: 131440 Incept: 2007-06-26	Updated. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2010-12-15 11:24:43 Permalink
Vegasradar Posts: 8721 Incept: 2007-07-11	who is this guy running the hearing? WTF he doesn't know who MERS is? ---------- Be the change you want to see in the world. ~Mahatma Gandhi 2010-12-15 11:27:25 Permalink
Genesis Posts: 131440 Incept: 2007-06-26	Deutsche was just called "Mr. Douche" - TWICE - by one of the Reps!!!!! ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2010-12-15 11:31:39 Permalink
Cobradriver Posts: 90 Incept: 2009-08-04 Port Charlotte,Fl	Just how ***ed up are the banks??? I bought a short sale from JPMChase in September. September. Yesterday at the house the doorbell rings. UPS dude. Drops an overnight letter on the porch and leaves. I look at it and yell to him..."It is for the previous owner!!!". He told me to trash it...So the nosy bastard I am,I open it up... It was a HAMP approval from JPM !!! I have been in the house almost 2 months...talk about having your head up your ass... Chris 2010-12-15 11:32:29 Permalink*
Gates Posts: 6350 Incept: 2008-01-29 Scottsdale	LOL - PERFECT! we are so ***ed 2010-12-15 11:34:10 Permalink*
Tallystick Posts: 2264 Incept: 2009-09-20	Very impressed by Hank Johnson's performance today. Seems he lowered his dose and he's thinking about stepping up to the plate. He's getting some nice testimony on the record today. Hank on heavy meds..... 2010-12-15 11:35:20 Permalink
Vegasradar Posts: 8721 Incept: 2007-07-11	what is that lady's name?? Ms FLUKER? we have a Douche and ***er on the panel ---------- Be the change you want to see in the world. ~Mahatma Gandhi 2010-12-15 11:48:24 Permalink*
Argos Posts: 6442 Incept: 2008-03-23 The Green Mountain State	And a Cox, if you must. :) Peterson and Fluker are rockin' the house. And Deutsch was just called a liar by Cox. 2010-12-15 11:50:09 Permalink
Truthseeker Posts: 8505 Incept: 2007-10-07 NorCal	Hey Vegas, there's been at least one ***er and Douche on every .gov panel I've ever observed! Just sayin'... ---------- "...But people better realize that the worst-case scenario could actually happen.9/11 happened. This can happen. An economic 9/11, the likes of which we've never seen." Gerald Celente 2010-12-15 11:50:52 Permalink*
Steph4liberty Posts: 1727 Incept: 2010-10-22 Raleigh, NC	And there we have it...two different securitized trusts through two different servicers alleging that they each own the same note and are trying to foreclose on the same house at the same time. Karl - you and others have been right on in your analysis so far. ---------- "Man will never be free until the last Banker is strangled with the entrails of the last Politician" - unknown "This isn't a market anymore, it's a computer game." - Drench Last modified: 2010-12-15 11:52:17 by steph4liberty Reason: spelling error 2010-12-15 11:51:37 Permalink
Corn1945 Posts: 4167 Incept: 2009-04-30	Will this be available later for viewing? 2010-12-15 11:53:23 Permalink
Vegasradar Posts: 8721 Incept: 2007-07-11	..bank doesn't have to realize the loss right away if they foreclose but do if they restructure ---------- Be the change you want to see in the world. ~Mahatma Gandhi 2010-12-15 11:53:53 Permalink
Otiswild Posts: 5677 Incept: 2009-03-09 Inside you, the force is!	@Cobra: holy crap, I got a UPS overnight letter the other day not addressed to me at my rental.. I don't think it's addressed to my landlord (I rent thru a property mgr) but I haven't bothered to open it.. Maybe I should check? 2010-12-15 11:54:19 Permalink
Vmooper Posts: 1826 Incept: 2007-11-30 Bailout ville	Rep. Scott just called it fraud for the banks to keep assets on their books at an inflated value. I think he meant to say farce, because FASB made this legal. Now whether those banks footnotes are communicating portfolio risk appropriately and legally is a whole different story. ---------- "If you don't know where you are going, speeding up is not the answer." -Jeff Macke "If you bail out everyone, nobody gets bailed out." -Jeff Macke "Those who make peaceful revolution impossible, make violent revolution inevitable." -JFK 2010-12-15 11:55:10 Permalink
Drench Posts: 28631 Incept: 2009-11-10	Quote: Will this be available later for viewing? Yes, C-SPAN will archive it here. http://www.c-spanvideo.org/program/29709.... Last modified: 2010-12-15 11:56:00 by drench 2010-12-15 11:55:33 Permalink
Otiswild Posts: 5677 Incept: 2009-03-09 Inside you, the force is!	IMO the FASB is a farce and the mark-to-magic is still fraud.. 2010-12-15 11:55:57 Permalink

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