Fraud* According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain *As defined in Wikipedia
What exactly does it mean when the Fed bails out a number of American corporations, including Goldman Sachs (for $590 Billion), and does not ask them to help reform the financial system or to keep a lid on humongous executive bonuses? In fact, Goldman Sachs sent many lobbyists to Congress to make sure that the financial reform would not be too onerous for them (and succeeded)! Something is rotten in the State of Denmark that won't be made fresh soon.
Eliot Spitzer of Parker/Spitzer on CNN asks Independent Bernie Sanders about the legislation that was passed requesting that the Fed disclose all of the recipients of bailout money:
You can read more about the bailout at The Daily Bail here
5
COMMENTS:
Anonymous
said...
You're right...something is not right!
Thursday, December 2, 2010 American Securitization Forum Tells Monstrous Whoppers in Senate Testimony on Mortgage Mess
The problem is that the pooling and servicing agreements, which governs the formation and operation of securitization trusts, have very specific provisions for how the notes were to be conveyed to the trust. The notes were to be conveyed through multiple entities, which each transfer being a “true sale” before getting to the trust (this was to create “bankruptcy remoteness” so that if the originator failed, its creditors would not be able to take notes back from the trust to satisfy their debts).
The PSA called for the note to be endorsed by the intermediary parties (either in blank or specifically to the next party). The notes were also to be conveyed by a specified date, which in nearly all cases was no later than 90 days after the closing of the trust. The trusts were required to be organized under New York law, and New York trust law is unforgiving. Trusts can operate only as specifically prescribed; if the notes were not conveyed to the trust in the manner set forth in the PSA, it cannot deviate from its instructions and somehow make exceptions (it would be deemed a “void act”) .
But the brazen part is to assert, Humpty Dumpty style, that “complete” or “unbroken” chain of endorsement means something other than what it obviously means. This language is not difficult to parse. Deutshce’s prevaricating is simply an insult to the reader’s intelligence. The parities CLEARLY intended for the notes to be conveyed through intermediary entities; that was critical for bankruptcy remoteness. And they CLEARLY intended for them to get to the trust by no later than 90 days after closing; that was necessary to get the desired REMIC tax treatment. But Deutshe is trying to engage in revisionist history and hope his audience is too uninformed to see through it.
Well, are we to conclude that there is only one honest man in the whole Senate and that man is Bernie Sanders? Bernanke at least had the grace to squirm when he was asked questions that he really didn't want to answer.
Why is that man (Bernanke) still in his job when it is so obvious that he doesn't know what to do and doesn't have the intelligence to understand that he doesn't know what to do and should leave the job for someone who does know what to do?
What should be moved on to, is the fact that digital money is what runs the world. The population of earth is tricked into thinking that money is real, it is not, it is digital computer keystrokes and no doubt this is a universal. But, the US tried to get every human to matrix on up. Did not work. However, safe to deduce that the world population cannot survive on gold, silver or any metal as money. Digital computer keystrokes as credit make sense, absent the Zionists' evil usury. Trades and exchanges of real property and legitimate value luxuries, of course real money and that is what the world demands of the US, no more fraud.
5 COMMENTS:
You're right...something is not right!
Thursday, December 2, 2010
American Securitization Forum Tells Monstrous Whoppers in Senate Testimony on Mortgage Mess
The problem is that the pooling and servicing agreements, which governs the formation and operation of securitization trusts, have very specific provisions for how the notes were to be conveyed to the trust. The notes were to be conveyed through multiple entities, which each transfer being a “true sale” before getting to the trust (this was to create “bankruptcy remoteness” so that if the originator failed, its creditors would not be able to take notes back from the trust to satisfy their debts).
The PSA called for the note to be endorsed by the intermediary parties (either in blank or specifically to the next party). The notes were also to be conveyed by a specified date, which in nearly all cases was no later than 90 days after the closing of the trust. The trusts were required to be organized under New York law, and New York trust law is unforgiving. Trusts can operate only as specifically prescribed; if the notes were not conveyed to the trust in the manner set forth in the PSA, it cannot deviate from its instructions and somehow make exceptions (it would be deemed a “void act”) .
But the brazen part is to assert, Humpty Dumpty style, that “complete” or “unbroken” chain of endorsement means something other than what it obviously means. This language is not difficult to parse. Deutshce’s prevaricating is simply an insult to the reader’s intelligence. The parities CLEARLY intended for the notes to be conveyed through intermediary entities; that was critical for bankruptcy remoteness. And they CLEARLY intended for them to get to the trust by no later than 90 days after closing; that was necessary to get the desired REMIC tax treatment. But Deutshe is trying to engage in revisionist history and hope his audience is too uninformed to see through it.
http://www.nakedcapitalism.com/2010/12/american-securitization-forum-tells-monstrous-whoppers-in-senate-testimony-on-mortgage-mess.html
Sen Bernie Sanders Amazing Speech!
http://www.youtube.com/watch?v=H5OtB298fHY&feature=player_embedded
Well, are we to conclude that there is only one honest man in the whole Senate and that man is Bernie Sanders? Bernanke at least had the grace to squirm when he was asked questions that he really didn't want to answer.
Why is that man (Bernanke) still in his job when it is so obvious that he doesn't know what to do and doesn't have the intelligence to understand that he doesn't know what to do and should leave the job for someone who does know what to do?
What should be moved on to, is the fact that digital money is what runs the world. The population of earth is tricked into thinking that money is real, it is not, it is digital computer keystrokes and no doubt this is a universal. But, the US tried to get every human to matrix on up. Did not work. However, safe to deduce that the world population cannot survive on gold, silver or any metal as money. Digital computer keystrokes as credit make sense, absent the Zionists' evil usury. Trades and exchanges of real property and legitimate value luxuries, of course real money and that is what the world demands of the US, no more fraud.
The gov't is in bed with tbtf...the only way to clean the sheets is this:
Ok, Maybe They Should Do It (Run The Bank)
http://market-ticker.org/akcs-www?singlepost=2292771
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