For instanceposted by The Vidiot @ 8:21 AM Permalink Let's just say, for the sake of argument, that I went around taking money out of people's wallets. I pretended to have the authority to do so, people believed me, handed me their wallets, I emptied it of all its cash and handed it back to them. Obviously, the people consented, but I was still taking their money using only my manufactured authority. They were fooled or coerced in some way, but they still consented and I still took their money. They thought that it was working out for them because I wasn't beating them up, everyone else was doing it and I had somehow convinced them the empty wallet was actually an asset; I hadn't taken their credit cards or their drivers license. Just the money.
After a while though, folks would get pretty pissed that I was taking their money. Additionally, when folks didn't have any money in their wallets, THEN I'd beat them up and take their credit cards and ID. General unpleasantness ensued and folks started screaming for my head. The "real" authorities, however, saw what I was doing as good 'ole American ingenuity. Not only that, they really appreciated that I gave them a percentage of my weekly take. So what did they do? The decided to give me that ACTUAL authority to do what I was doing. In addition to that, they made that decree retroactive so that all the money I had taken before, which obviously included the money I had given them, was in the free and clear and I could proceed with my business, unhindered by such things as lawsuits and arrests.
Of course, this scenario sounds incredibly silly, right? Surely aspects of it are, but....
After years of negative judicial decisions about the use of a straw-man on mortgages, MERS was about to lose its existence as well as its credibility. But now all of that is set to change as Wall Street money is pouring into the coffers of those who are receptive (i.e., almost everyone in Congress). The legislation is already being drafted under the interstate commerce clause to ratify MERS and everything it did retroactively. It appears that the Obama administration is ready to pardon all the securitization deviants by signing this bill into law. This information is corroborated by several people who are in sensitive positions — persons who would be the first to know such proposals.You might want to also read Matt Taibbi's new article in Rolling Stone:
Courts Helping Banks Screw Over HomeownersNo worries. It's all good. Go back to your stupid TV and chips. There's nothing to see here.
Retired judges are rushing through complex cases to speed foreclosures in Florida