Posted in Financial

“Too Big To Fails” Have Stopped Being Banks | Zero Hedge

In reality, big banks aren’t really acting like banks anymore.  Big banks do very little traditional banking, since most of their business is from financial speculation. For example, we noted in 2010 that less than 10% of Bank of America’s assets come from traditional banking deposits.

The big banks are manipulating every market.   They’re also taking over important aspects of the physical economy, including uranium mining, petroleum products, aluminum, ownership and operation of airports, toll roads, ports, and electricity.  And they are using these physical assets to massively manipulate commodities prices … scalping consumers of many billions of dollars each year (more here and more).

The evidence demonstrates that the big banks have essentially become huge criminal enterprises …  waging warfare against the people of the world.

Read more -> “Too Big To Fails” Have Stopped Being Banks | Zero Hedge.

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3 thoughts on ““Too Big To Fails” Have Stopped Being Banks | Zero Hedge

  1. HELLO, I READ ALL YOU SEND, QUESTION

    but there is still a QUESTION that no one has been able to answer for us .SO if you could just read the following and give american, as to what would be the correct answer to the question.

    1/ the 3 day/3yr rule of law on rescission. so if a homeowner has just found out, i.e as what i have said below, in last few yrs, even if closing was done in 2005, i would say the closing was not done to the standards of the law, and until all the facts and disclosures are done proper , the closing is not complete? so if not completed, then i would say am still under the 3 day clause/ and diffidently under the 3yr clause. ????

    that is the question sir.

    thank you

    from all home owners that have had there homes stolen, and by the way, its in the millions and still going on today. but what you have done will be helping all us now. what i don’t get is , it was all common sense, really. it was just that. so how could judges all over the country, see that??

    1/ do you think that any bank/originator/or pretending lender, sold your application,appraisal,credit score,to someone that would give them the money to close the refi,or mortgage??, ahead of you signing the note?

    2/ at the time of closing, the attorney is told BY the closing instructions to fax over ASAP AFTER HOMEOWNERS SIGN NOTE!! TO PRETENDER LENDER? WHY??? also attorney is told to send them 3 certified copy’s of the note. why???? so really how many copy’s of the note is needed, and why do they need 3??? so know there are 3 or more copy’s of my note going who no where. and to whom???

    3/ what do you say about this. i have 3 different copy’s of my note, that i have gotten from 2 different servicer’s. ??

    4/ first note is clean nothing on it.

    2nd note, sign over in blank from gmac mortgage corp.. no date,or signed by anyone, only a robo name acting for gmac mortgage corp, his name is D. CHIODO, BY STAMP AND HIS SIGNATURE??, AS ASSISTANT SECRETARY

    3RD, NOTE, AND MOST IMPORTANT I FEEL. READY FOR THIS.

    PAY TO THE ORDER OF
    DEUTSCHE BANK TRUST COMPANY AMERICAS
    WITHOUT RECOURSE
    _________________________ SIGNED,DATED, AS OF 8 NOV 05
    D.CHIODO
    ASSISTANT SECRETARY
    GMAC MORTGAGE CORP,INC

    THIS WAS DAY OF CLOSING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    NOW I also have the BANK WIRE FUNDING WIRED ADVICE OF CREDIT. FROM WHO FUNDED THE REFI OF THIS MORTGAGE/NOTE.

    WELL ITS NOT THE LENDER ON MY MORTGAGE OR NOTE..

    BUT IT IS FROM THE SAME NAME ON THE THIRD COPY OF NOTE I HAVE. DEUTSCHE BANK TRUST COMPANY AMERICAS..

    YOU DO SEE THE DATE RIGHT. NOV 8,2005…!!!

    OH BY THE WAY , IT WAS ALSO SECURITIED IN A TRUST ALSO, THAT HAD A CLOSING DATE, FOR TRUST TO GET MORTGAGE AND NOTES, ON 27 FEB,2006

    THE FIRST ASSIGNMENT ON RECORD IS THIS.

    MERS TO TRUST, DATED AUG, 2012. WITH THE AUTHORITY OF GMAC MORTGAGE CORP.

    NOW- GMAC MORTGAGE CORP, STOPPED EXSISITING AFTER 2006.

    SO WERE WOULD MERS GET ANY AUTHORITY FROM, IN 2012 TO ASSIGN ANYTHING??????????????????????

    AND REMEMBER RESCAP/GMAC WERE IN BK AS OF MAY 2012!!

    Revolution1,
    please i have question for you. simple i think, but would like what you think.
    i have spent 10’s of thousands so far, i would consider myself a expert on securitization of mortgages after 5yrs of working on my stuff,
    i’am having marie mcdonnell looking into all this also, spending $$$$$. with her, and have found stuff she didnt know exsisted in this fraud. anyways
    over past few yrs i have ask my servicer to send me copy’s of what they have, and i have been sent 3 differant copys of my mortgage note??? from them. them meaning. GMAC MORTGAGE CORP/ AND THIS DEBT COLLECTOR OCWEN MORTGAGE.
    FIRST MORTGAGE NOTE, HAS NOTHING ON IT FOR ASSIGNMENT.
    2ND NOTE HAS A ASSIGNMENT THAT SAY PAYED TO THE ORDER OF ——— NOTHING THERE!NOT SIGN OR DATED,FROM GMAC MORTGAGE CORP.
    3RD MORTGAGE NOTE, SAYS PAYED TO THE ORDER OF, DEUSCHUER BANK AND TRUST AMERICAS,INC,WITHOUT RECOURSE, SIGNED AND DATED . AS OF THE CLOSING DATE OF 8 NOV 2005..
    NOW WE ALL KNOW GMAC MORTGAGE CORP NO LONGER EXISTED AFTER 2006.BUT NEW ENTITY WAS BORN, CALLING ITSELF,GMAC MORTGAGE,LLC. THEN THAT WENT BY THE WAIST SIDE IN 2009, WITH ALLY BANK, AND GMAC MORTGAGE AND RESCAP WROTE OFF 22 BILLION IN MORTGAGE LOANS????? I WOULD SAY MAKING THEM UNSECURED DEBT?? AT THAT TIME??
    NOW COMES BK FOR THEM IN MAY 2012, IF MY MEMORY IS CORRECT, NOW COMES THE FIRST ASSIGNMENT ON RECORD IN THE REGISTRY OF DEEDS FROM. MERS, TO SECURITIZED MORTGAGE TRUST. DATED AUGUST 2012. 4 MONTHS INTO BK?
    FIRST HOW COULD A DEAD,NON EXISTENT CORPORATION GIVE MERS ANY AUTHORITY TO ASSIGN ANYTHING AT THAT POINT IN 2012,TO A TRUST THAT CLOSED 27 FEB 2006, BY THE PSA.
    AND SO HOW COULD GMAC MORTGAGE SAY ANYTHING AFTER THEY SIGN THE MORTGAGE /NOTE TO DEUSCHUER BANK IN 2005, WITHOUT RECOURSE. RIGHT.

    SO UNDER THE RECSISSION, I DO BELEIVE I HAVE A CASE, TO SAY WE WERE NOT TOLD THEY SOLD OUR MORTGAGE THE SAME DAY WE SIGN IT, AND THAT THE SAME BANK THAT GMAC MORTGAGE ASSIGN IT TO. WAS INFACT THE FUNDER OF THE MORTGAGE LOAN, REFI WE DID, AS I HAVE THE BANK DOC’S SHOWING THIS BANK AS THE FUNDING BANK TO CLOSING ATTORNEYS BANK ACCOUNT. HUM FUNNY ISNT IT

    NOTE: THERE ARE ACTUALLY THREE LETTERS OF OBJECTION AND RESCISSION THAT COULD BE SENT: (1) THREE DAY NOTICE OF RESCISSION, (2) THREE YEAR NOTICE OF RESCISSION AND (3) GENERAL CLAIMS NOTICE OF RESCISSION OR NULLIFICATION. IN ALL CASES, THE NOTICE SHOULD CONFORM TO STATE LAW AS TO FORM, SUBSTANCE AND METHOD OF MAILING. GENERALLY IT SHOULD BE SENT CERTIFIED MAIL RETURN RECEIPT REQUESTED. IN ADDITION, A FILING OF LIS PENDENS OR NOTICE OF PENDENCY TOGETHER WITH YOUR NOTICES AS ATTACHMENTS WOULD GUM UP THE WORKS ON THE PROPOSED SALE AND PROBABLY FORCE THE ACTION TO CONVERSION FROM NON-JUDICIAL SALE TO JUDICIAL SALE. THE ADVANTAGE IN CONVERTING TO JUDICIAL SALE IS THAT THE TRUSTEE OR “LENDER” MUST FILE A COMPLAINT AND ALLEGE THINGS THAT WILL EXPOSE THEM TO LIABILITY BECAUSE THE ALLEGATIONS ARE NOT TRUE. IT KEEPS THE BURDEN WHERE IT BELONGS — ON THE “LENDER.”

    The three day rescission letter should go out to everyone you know or think has anything to do with this loan. The pretender lender who is on the note, the mortgage broker, the trustee, any attorneys, any name you have for mortgage servicer, aggregator, investment bank, SPV, etc. Even if they respond with ‘we have nothing to do with this loan’ you have narrowed it down. More likely you will get a more tentative (we are looking into it) because they don’t know whether a specific loan is tied to a specific pool, SPV or mortgage backed security.

    The point being that failure to disclose the real parties in interest at the loan closing and failure to disclose the fees paid to those real parties behind the curtain that the borrower didn’t even know was there, they deprived the borrower of the knowledge of who he should send his rescission letter or other claims and objections to.

    They can argue that the rescission letter is effective if sent to the pretender lender. But is it? And if they do argue that, have they opened yet another door? How do we now that beyond them just saying it? At best they have placed the borrower in the untenable position, now having discovered that there was a real lender and that the lender he had at closing was a pretender lender paid a fee for pretending to be the lender in what is referred to in the industry as a table funded loan of not knowing who to pay, not knowing who has authority to communicate with him, and not knowing for sure to whom he should address objections and claims.

    By having insurance contracts, credit default swaps, cross guarantees, and buyback provisions as the ‘note’ moved through the chain of securitization, combined with the right to replace one loan with another, all mixed in with the fact that the buyback/substitution requirement is rarely enforced, there is no way for them to know with certainty whether the specific loan, even if initially assigned to a specific pool, is still in that pool, or has been supplemented with another note, or has been satisfied by one of the third party guarantee contracts.

    In addition, the overcollateralization and reserve pools, and the hierarchical pledges between divisions (tranches) of the SPV corporation means that contractually, hundreds (perhaps thousands) of people had their loan payment assigned to pay off your payments if they were in a tranche below the one to which you were assigned without your knowledge or consent.

    And even if you did make payments, your payments might just as well have been allocated to other loans in tranches above the one your loan was assigned to. With the AIG Federal reserve bailout, there is no question that there is insurance coverage on a lot of these loans. Why should ANYONE get paid twice? Is AIG asserting the right to recover under the note and mortgage? No

    djabelanger@hotmail.com

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