Attacking the foreclosure crisis New York's attorney general pushes back on recent reports


Attacking the foreclosure crisis New York’s attorney general pushes back on recent reports

Attacking the foreclosure crisis  New York’s attorney general pushes back on recent reports


In the last decade, the United States experienced the biggest housing bubble in the history of the world. When the bubble burst, Americans lost $7 trillion in household wealth, millions of jobs disappeared and the nation was plunged into the deepest and longest recession in 70 years.

There have recently been some mischaracterizations of the mortgage-backed securities working group created in January by President Obama to investigate the roots of this crisis — a working group I am proud to co-chair.

Here are the facts.

My office — along with the Justice Department, the SEC, the Consumer Financial Protection Bureau, the IRS and our other partners — is working aggressively to provide accountability for any misconduct that contributed to the bubble and crash in the housing market. More than 50 attorneys, investigators and analysts have already been deployed to support our investigations, with many more on the way. The President has requested a congressional appropriation of an additional $55 million to ensure that we have the resources to do a thorough job.

However, this is a law enforcement exercise, not a public policy decision, and must proceed in a rigorous and deliberate fashion. Like any ongoing investigation, the details about the scope of our inquiry are confidential. But I remain committed to following the facts wherever they may lead.

Read more: [NY DAILY NEWS]

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5 Responses to “Attacking the foreclosure crisis New York’s attorney general pushes back on recent reports”

  1. nydeemarie says:

    Source Code § 935, 936

    § 384. Conveyance and record as evidence.

    4. If it appears that the proof was taken upon the oath of an interested or incompetent witness, the conveyance, or the record or transcript thereof, shall NOT! be received in evidence until its execution is established by other competent proof.

    § 385. Searches by title insurance and abstract companies.

    Searches affecting property situate in any county in which the office of county clerk or register is a salaried one, when MADE and CERTIFIED!! to by title insurance, abstract or searching companies, organized and doing business under the laws of this state, may be used, in place of an with the same legal effect as such official searches.

  2. nydeemarie says:

    Geesh, isn’t the MERS it’s own usurping/interfering/interested business record?


    Title search..

    What do they search and CERTIFY?

    The clerk records or MERS???

    If they use MERS how do they certify something that SHALL NOT be received into evidence?

    Weird.. isn’t it?

  3. nydeemarie says:

    Bank of NY v. Silverberg, 86 AD 3d 274 – NY: Appellate Div., 2nd Dept. 2011


    In a dissent, former Chief Judge Judith S. Kaye posited that the MERS system raised several concerns, including the ELIMINATION of the PUBLIC RECORDS which document mortgage loan ownership (id. at 100-105).

    Standing requires an inquiry into whether a litigant has “an INTEREST!! . . .

    Have the TITLE INSURERs, ABSTRACT and SEARCHING Companies become JUDGES?

  4. nydeemarie says:

    Article 75


    §1217. Action by attorney-general for unlawful exercise of corporate rights. The attorney-general may maintain an action upon his own information or upon the complaint of a private person.

    1. Against one or more persons who act as a corporation within the state without being duly incorporated; or exercise within the state any corporate rights, privileges or franchise not granted to them by the law of the state.

    2. …,or which within the state has violated any provision of law, or , contrary to law, has done or omitted any act or has exercised a privilege or franchise not conferred upon it by the law of this state, where, in a similar case, a domestic corporation in accordance with section one hundred and thirty-one of the general corporation law, would be liable to an action to vacate its charter and to annul its existence; or which exercises within the state any corporate rights, privileges or franchises in a manner CONTRARY TO the PUBLIC POLICY of the state.


  5. nydeemarie says:

    hmmm… Interesting…

    SPOLIATION, torts. Destruction of a thing by the act of a stranger; as, the erasure or alteration of a writing by the act of a stranger, is called spoliation. This has not the effect to destroy its character or legal effect. 1 Greenl. Ev. Sec. 566. 2. By spoliation is also understood the total destruction of a thing; as, the spoliation of papers, by the captured party, is generally regarded as proof of. guilt, but in America it is open to explanation, except in certain cases where there is a vehement presumption of bad faith. 2 Wheat. 227, 241; 1 Dods. Adm. 480, 486. See Alteration.

    I wonder…

    Article 76

    Action By People Founded UPON the Spoliation or other Misappropriation of PUBLIC PROPERTY

    § 1222. Action by people in the state courts for illegal receipt or disposition of public funds or other property.

    …without right obtained, received, converted, or disposed of, an action to recover same, or both,

    § 1226. Limitation of action. The people of the state will not sue for a cause of action specified in this article unless it accrued within ten years before the action is commenced.

    § 1227. Ultimate disposition of proceeds of action in courts of state.

    § 1228. Application for custody or disposition of proceeds of action. Any corporation, board, officer, custodian, agency, or agent, in behalf of any city , county, town , village, or toehre division, subdivision, department, or portion of the state, which was not a party to an action, brought as prescribed in this article, and which claims to be entitled to the custody or disposition of any of the money, funds, damages, credits, or other property….

    § 1229. Attorney-general MUST bring action.

    … whenever he deems it for the interest of the people of the state so to do; or whenever he is so directed, in writing, by the governor.

    If MERS is a private business record, why is it hooked up in the office of the clerk??

    sharing custody of records and converting would be fees to their profit?


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