Monday, June 06, 2011

Unveiling the depths of banksterism

Every American needs to read this story:
Have you heard the one about a homeowner foreclosing on a bank?
Well, it has happened in Florida and involves a North Carolina based bank.
Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff's deputies foreclose on the bank.
It started five months ago when Bank of America filed foreclosure papers on the home of a couple, who didn't owe a dime on their home.
The couple said they paid cash for the house.
The case went to court and the homeowners were able to prove they didn't owe Bank of America anything on the house. In fact, it was proven that the couple never even had a mortgage bill to pay.

The key question, of course, is how did BoA even initiate foreclosure proceedings if a mortgage never existed on the home??  Shouldn't the court system have rejected their claim without the couple having to go to all the trouble of proving their ownership?  Add this to the robo-signing controversy, and it's clear the entire financial sector is one big game of smoke-and-mirrors where the large financial institutions simply grab whatever they can get away with.  Are there deadbeats that bought more house than they could afford?  Absolutely.  But the behavior of the banks, who are willing to accept government bailouts on the one hand, while simultaneously squeezing every homeowner they can, reminds me of the parable of the unmerciful servant.  Worse, even, since in that parable the servant was at least owed the money he was badgering the debtor for!

This assessment is further reinforced by the actions of BoA upon losing their fraudulent claim:
Bank of America was ordered, by the court to pay the legal fees of the homeowners', Maurenn Nyergers and her husband. ...   After more than 5 months of the judge's ruling, the bank still hadn't paid the legal fees, and the homeowner's attorney did exactly what the bank tried to do to the homeowners. He seized the bank's assets. ...  After about an hour of being locked out of the bank, the bank manager handed the attorney a check for the legal fees.

Most people reading this story via Drudge will simply laugh at the irony, and think "someone got to stick it to THEM."   Not me.  I see this as an exception proving a rule -- that there's a cabal of business and government who are running roughshod over individual citizens.  Financial systems have become a game of "heads I win, tails you lose" unless you're very fortunate.  The more people realize the game is rigged, the less they're going to be willing to play.

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