Where's The Restitution?
The Market Ticker ® - Commentary on The Capital Markets
Posted 2013-02-13 09:19
by Karl Denninger
in Corruption
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Where's The Restitution?
 

All those who were dispossessed of their homes..... when do they get them back?

GRAND RAPIDS — The former president of a mortgage document processing company has pleaded guilty to a racketeering charge in Michigan.

The state attorney general's office says Lorraine Brown pleaded guilty Monday in a Kent County circuit courtroom. She faces up to 20 years in prison when sentenced on May 2.

The state says that the 51-year-old Brown orchestrated a robo-signing scheme in which employees fraudulently signed another authorized person's name on mortgage documents to expedite foreclosures.

So about all those titles that were fraudulently transferred away from the owners of the homes, and the subsequent resales by banks which are factually void as you cannot convey that which you never had lawful possession of.

We're going to see that addressed..... exactly when?

Why do I know this is going to be crickets, despite the fact that now we have a criminal racketeering guilty plea on the table?

The reason for that, of course, is simple -- if the banks had to unwind these transactions and cover the damages of everyone harmed by them they would collapse instantly.

Therefore it won't be done, even though this individual and the firm undertook this at those institutions' behest!

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User Info Where's The Restitution? in forum [Market-Ticker]
Raxon
Posts: 69
Incept: 2011-08-23

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When the SHTF the banks won't be forgotten. Well, I certainly won't forget what they have done to this country.
Ktrosper
Posts: 1500
Incept: 2010-04-06
Silver
ft collins co
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Me either.

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The unexamined life is not worth living.-Socrates
The only stable state is the one in which all men are equal before the law.-Aristotle
Liberty exists now in the spaces government has not yet chosen to occupy.-Doc Zero
I anticipate that 10 Dallas Cowboys Cheerleaders will blow me this evening.-K.D
R2judge
Posts: 576
Incept: 2008-04-13
Green
Burbank CA
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"GRAND RAPIDS — The former president of a mortgage document processing company has pleaded guilty to a racketeering charge in Michigan.

The state attorney general's office says Lorraine Brown pleaded guilty Monday in a Kent County circuit courtroom. She faces up to 20 years in prison when sentenced on May 2."


20 years? Yet no banker is in prison for even a day for participating in the greatest criminal financial fraud in the history of the country. A tremendous injustice.
Kamath
Posts: 1539
Incept: 2009-04-04

Sweden
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Like I asked in the Dorner threads: How many disgustingly criminal banksters and other "protected classes" members (including criminal police that randomly try to murder newspaper ladies) are still at large, while the cops burn someone to death?

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"Yep - and that ****er didn't want to light either. I had to soak it in gasoline for a full day before that rat bastard thing would combust." - Karl Denninger
""We could not be more ill served if we had some South American tribal witch doctor shaking monkey bones at us. "
- Infidel
Bsfootprint
Posts: 965
Incept: 2011-02-27
Green
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Wouldn't victims need to sue in civil court, or is restitution automatically granted as part of a criminal case?

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When I hear central bankers are blowing bubbles, I like to picture a large, happy and well-endowed male chimp named 'Bubbles'...
Steelhead23
Posts: 2042
Incept: 2008-09-09
Green
Portland OR
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Why, its perfectly rational to screw poor people. After all, they have virtually no access to the courts. Many could not pay counsel and the idea of the government standing behind them is patently ridiculous - they're busy enabling the thieves. After all, if some poor schlub in Detroit goes broke, nothing happens - but if these costs were to be put back on the servicers - they would go broke and the prime directive of the Obama Federation is to NEVER ALLOW A MAJOR FINANCIAL INSTITUTION TO GO BROKE. So all those Michiganders who illegally lost their homes, Obama wishes you would just get over it. After all, in America we always look forward, not back.

As for my view of these large banks, please read my sig lines.

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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
Andysvw
Posts: 1745
Incept: 2010-06-26
Green
Tujunga Ca
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1.This needs to go viral.
2. Oathkeepers need to hook up with all the honest folks.
3. A candle light vigil for the rule of law.

Breach of contract, clean hands and possession is 9/10ths.

One way or the other they need a hanging judge or two. Make it clear hang the crooks or hang in their place.

Michigan needs a state land bank.

Thats how this gets unwound.
Catinflorida
Posts: 68
Incept: 2011-03-03

florida
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"We The (little) People" are expected to slink off with our tail between our legs. Civil court is a joke and our justice system is a travesty.

My first attorney charged us 30K to "mediate" with the bank and when the bank told us to sue them, our attorney informed us he would need an additional 100K retainer to START a lawsuit! Good luck finding an attorney who doesn't have a "conflict of interest" or the means to fight the extremely deep pockets of the banks!
Aveteam
Posts: 18
Incept: 2010-06-26

Fort Collins, Colorado
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Hell with 'em. Let those banks go under.

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This IS the government our founders warned us about.
Hotmess
Posts: 5
Incept: 2012-12-26

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Catin--sounds like exactly what happened to me and I wasn't confident the lawyer even understood the complexities involved in real estate law. Overly confident in bluster and bull but not shy about asking for more money. I sometimes think I might get a nice payout from the independent foreclosure fiasco but then reality bites me.
Mannfm11
Posts: 3545
Incept: 2009-02-28
Gold
DFW, Tx
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What started the other day that hasn't been started for a long time? My best guess is the backlash to all the nonsense they have brought out the door to make it appear we had a future.

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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
Namor
Posts: 94
Incept: 2007-10-12
Green

Banned
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Quote:
My first attorney charged us 30K to "mediate" with the bank and when the bank told us to sue them, our attorney informed us he would need an additional 100K retainer to START a lawsuit! Good luck finding an attorney who doesn't have a "conflict of interest" or the means to fight the extremely deep pockets of the banks!


Pro Se FTW! If everyone who was screwed by the system exercised their right to represent themselves in court it would be a huge thorn in the criminal class's side.
Catinflorida
Posts: 68
Incept: 2011-03-03

florida
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Namur,

Your kidding right? Pro se gets you squashed like the annoying little bug you are to them. It ain't like tv where justice always prevails, you don't have a chance in hell. All you do is give them a good laugh.

Hot,
I'm sorry to hear that and wish you luck in seeing anything from the settlement. Even that is not an option for me, we have a clear cut case of breach of contract and sheriff investigated proven fraud in a construction loan. The bank gave the builder all the money and after 4 and a half years of paying perfectly, the bank called the entire note. The house was only 60 to 65% complete!

Of course LE would only investigate the builder, they said it was not their jurisdiction to look at the bank"s involvement. The investigator did tell me off the record he thought the bank was the guiltiest party.
Cvdoc
Posts: 163
Incept: 2009-06-11

Washington, DC
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We all watched Chris Dorner burned alive. Drudge has a link to the youtube video of a cop screamig to "burn the house down". One man with a grievance who acted inappropriately is murdered by cops (no surprise). Not one bankster in jail. My liberal friends just shrug. Obama has blinded them.

This will end badly.

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Few men desire liberty; most men wish only for a just master.
Sallust
Vitchilo
Posts: 4615
Incept: 2011-04-27

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Well then, one convicted for robo-signing means that ALL ROBO-SIGNING ARE ILLEGAL.

That means HUNDREDS OF THOUSANDS deserve their house FOR FREE or A BIG FAT CHECK for the value of the house back when it was seized from them + a check for compensation for all the troubles they have been through since then from the banksters.

If there's justice, that's gonna cost the banksters TENS OF BILLIONS at the very least... not to mention hundreds/thousands of people going to prison.

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"Every normal man must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats." -- H.L. Mencken

Pika-steph
Posts: 54726
Incept: 2007-09-11
Gold A True American Patriot!
Live Free Or Die; US Army Est. 1775
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And look what foxes they just put in charge of the hen house!

Big Banks Are Told to Review Their Own Foreclosures

http://www.fedupusa.org/2013/02/big-bank....

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Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org/
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"The only regulation that really works is failure."--Rick Santelli
Azusgm
Posts: 2408
Incept: 2010-12-02
Green
East Texas
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Texas is a nonjudicial foreclosure state. Citibank seems to make a habit of taking their foreclosures through the judicial process in this county. There aren't very many, but the few judicial foreclosures seem to be Citibank's. The bank is represented by one of the out of town foreclosure mill law firms that also does substitute trustee sales. The house that is going to the courthouse steps in March had a default judgment last summer. Don't know why it has taken so long for a sale.
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