Matt Taibbi: Courts Helping Banks Screw Over Homeowners

Categorized | STOP FORECLOSURE FRAUD

Matt Taibbi: Courts Helping Banks Screw Over Homeowners

Matt Taibbi: Courts Helping Banks Screw Over Homeowners

Retired judges are rushing through complex cases to speed foreclosures in Florida

By Matt Taibbi
Nov 10, 2010 2:25 PM EST

The following is an article from the November 11, 2010 issue of Rolling Stone. This issue is available Friday on newsstands, as well online in Rolling Stone’s digital archive. Click here to subscribe.

The foreclosure lawyers down in Jacksonville had warned me, but I was skeptical. They told me the state of Florida had created a special super-high-speed housing court with a specific mandate to rubber-stamp the legally dicey foreclosures by corporate mortgage pushers like Deutsche Bank and JP Morgan Chase. This “rocket docket,” as it is called in town, is presided over by retired judges who seem to have no clue about the insanely complex financial instruments they are ruling on — securitized mortgages and laby­rinthine derivative deals of a type that didn’t even exist when most of them were active members of the bench. Their stated mission isn’t to decide right and wrong, but to clear cases and blast human beings out of their homes with ultimate velocity. They certainly have no incentive to penetrate the profound criminal mysteries of the great American mortgage bubble of the 2000s, perhaps the most complex Ponzi scheme in human history — an epic mountain range of corporate fraud in which Wall Street megabanks conspired first to collect huge numbers of subprime mortgages, then to unload them on unsuspecting third parties like pensions, trade unions and insurance companies (and, ultimately, you and me, as taxpayers) in the guise of AAA-rated investments. Selling lead as gold, shit as Chanel No. 5, was the essence of the booming international fraud scheme that created most all of these now-failing home mortgages.

© 2010-14 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.






Comments

comments

Related posts:

  1. Wall Street's Naked Swindle by: Matt Taibbi Short-Selling Vs. Naked Short-Selling: An Explanation In “Wall Street’s Naked...
  2. MATT TAIBBI: Goldman Sachs "VAMPIRE SQUID" The first thing you need to know about Goldman Sachs...
  3. Homeowners strike back at banks: The Daily Tribune “None of the named defendants have the right or authority...
  4. Florida Ruling Might Further Complicate Loan Crisis RULING MAY COMPLICATE LOAN CRISIS Ruling might further complicate loan...
  5. NO. THERE’S NO LIFE AT MERS NO. THERE’S NO LIFE AT MERS By DinSFLA Mortgage Electronic...

This post was written by:

- who has written 7033 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

2 Responses to “Matt Taibbi: Courts Helping Banks Screw Over Homeowners”

  1. mogle says:

    Awesome article! I’ve passed it along. Thanks!

Trackbacks/Pingbacks

  1. [...] This post was mentioned on Twitter by Mario, DinSFLA. DinSFLA said: Matt Taibbi: Courts Helping Banks Screw Over Homeowners http://goo.gl/fb/Allr5 [...]


Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Chip Parker, www.jaxlawcenter.com
RR Compliance Consulting Inc was established to provide training and support services to the Loss Mitigation Consulting Community.  There is a huge void in the market for this training since those who are truly practicing in the field have neither the time nor interest in providing this training.
Jamie Ranney, www.NantucketLaw.pro
LATEST TOP FORECLOSURE FRAUD CASES OPINIONS
Advertise your business on StopForeclosureFraud.com

Archives

Please Support Me!

All Of These Are Troll Comments