Mortgage Meltdown: Consensus versus Intervention

• I’ve been working on this problem for over a year. 
• No act of prescience or brilliance was required to know that if you pour water from a pitcher, eventually it will be empty even if you splash some more in from time to time. There isn’t enough money in the world to save us from a crash. 
• The ONLY thing that save our economy and the many other economies of the world that are tied to our fortunes is by consensus: 
• Stop the foreclosures and evictions, 
• redo the mortgages with incentives for people to stay in their houses, 
• create a payment pattern that is possible even if it is not ideologically congruent with your philosophy, 
• restore CDO values as close as possible to par, 
• enlist the culprits who created this mess because they are the ones with the open channels to get this done, 
• add to the recent moves to accept CDOs at or near par for valuation purposes (thus increasing capital reserves and allowing the release of billions in loans that are waiting to be made), 
• change the rules of civil procedures in each of the states on foreclosure to stop or slow them down, 
• change the rules of civil procedure on pleading to force the foreclosing party to state its case more clearly — especially as to ownership of the loan, 
• change the rules of civil procedure to stop or slow evictions, and 
• change the rules of civil procedure to require mediation after the issues are joined, thus providing some breathing room for this all to get worked out. 
• Legislation can’t do it, executive leadership won’t do it. That leaves the rest of us and hopefully the judiciary, without sacrificing due process and protection of property rights. 
• It can ONLY happen with consensus. Without agreement, this will crash, inflation will destroy what is left of the middle class and a good part of the upper class and drive the U.S. into third world status before you can say “$30 per gallon.”

Obama Consensus Vs. McCain/Clinton Military Force

Get with the Program: Challenge for the Obama Presidency. Fundamentals vs. Brute Force

American policy should be changed to reflect the paradigm shift — to determine ways in which we would be an acceptable member of the European Union and gradually shift to the Euro as the currency of choice. In order to accomplish this, U.S. leaders must guide the country back on track toward production, rather than perceived “productivity” and purchasing power rather than perceived “corporate earnings.” Rather than the old methods of brute force, Obama’s message of consensus will do more to stabilize our economy and foreign affairs than any of the proposals of his opponents or prospective opponents. Far from being in the clouds, Barack Obama, reflecting his experience at ground level on the streets of Chicago, understands the true dynamics of achievement, especially when it comes to peace and prosperity.

The European Union and the creation and adoption of the Euro as a competitive currency to the U.S. dollar was an inevitable bi-product of the Bretton Woods agreement and an American policy that pursued brute force and meddling in the affairs of other nations rather than the rather simple logic employed by such countries as Ireland, Brazil and Venezuela who have all achieved status by investing in their greatest resource — their own people. As nations join the European Union and the Euro gains increasing market share, the perceived safety of the judgment of a council of nations rather than dominance of a single nation is becoming apparent.

Things change. While the definition of “money” has not generically changed, the character of money has fundamentally shifted in every conceivable way. Agreement, acceptance and faith are elements of human interaction and society. They are also the cornerstone of “money,” by which we measure the value of things, store value and exchange goods. 

It is common theme that the perceived dominant world player has had its currency adopted by most of the commercial world and the governments of other sovereign nations. 

Prior to the dollar, it was the pound sterling. Over centuries the main currency of world commerce has shifted from the fiat money of one country to another depending upon world perception of the strength of their economy and their political and military strength to maintain their position. 

Everyone has their “fifteen minutes” and then it is up — but nobody gives up their position without a fight. Sometimes the fight is world war, extended regional wars or other military confrontations. Other times it is a diplomatic and commercial battle in the marketplace of ideas and the relative strength and weakness of competing treasuries. 

In the end, for better or worse, a new consensus arises and the currency of the dominant country shifts along with the enormous economic, political and social power and influence that commercial dominance endows the creator of the most favored currency.

In 1944, world leaders, prompted by “economists” and pure commercial interests came up with the forerunner of the new world order emerging today. It was the Bretton Woods conference. It was a formal meeting of sovereign nations and a negotiated agreement as opposed to “market forces” or competing unilateral sovereign agendas coming into balance. It was consensus of the kind that Barack Obama proposes and which even our enemies embraced as they have ever since scurried to enhance their holdings of U.S. dollars.

This event marked the beginning of a process that would pacify the U.S. and its ever-expanding ambitions, but ultimately end up with a shared unity that was NOT tied to whims of a single government. It was a relinquishment of sovereignty that could not and would not become undone. It would grow and evolve causing pervasive changes in business, banking and relations between countries.

The Bretton Woods Agreement did two things — set a gold standard, which was a temporary measure that only the the most forward thinkers understood, and set the currency for international (world) commerce as the U.S. dollar which was tied to Gold at $35.00 per ounce. 

Using gold is a standard that was hardly new. Yet the process of formal agreement was new and that process would emerge as the only lasting impact impact of the conference. 

Gold was valued because of its scarcity, its beauty and mythic reverence that was in the minds of believers from the dawn of commerce. It worked because of two factors — on the one hand a subjective set of factors including agreement, acceptance and faith and on the other, a scarcity that was somewhat controllable by additional mining. Periodically, gold strikes wreaked havoc with the price of gold but on the average it has been a relatively stable influence on commerce. 

The weakness of Gold was in its relative scarcity to population growth and related growth of commercial activity on the one hand and in the meteoric changes in the nature of money which has become increasingly symbolic tot he point where now most of it merely exists in electronic data files that nobody can touch, feel or roll around in their hand. There is no slight of hand coin trick to display for amusement because there is no coin.

Putting these factors together brings us to the inescapable conclusion that the supply of gold could not possibly keep up with the growth of human society. Indeed that was the precisely the issue when Nixon and Volcker, in 1971 decided to withdraw from the Bretton Woods agreement, and NOT promise to back every dollar with gold valued at $35 per ounce. 

While viewers of the popular show Bonanza were doubly disturbed that their favorite program was interrupted by the President on a lazy Sunday evening and that their currency was suddenly in free fall, the Nixon-Volcker decision was merely a statement of the obvious — the U.S. already was out of balance three to one (gold on hand versus dollars issued) and the situation was clearly permanent and getting worse. We had in fact passed the point of no return very soon after the Bretton Woods agreement was signed.

This decision eventually brought the U.S. back to dominance of the the perceived leader on world affairs. But lurking underneath was the positive knowledge of other world leaders and people who would become world leaders that an agreement was not only possible but inevitable. As long as the dollar was useful it would remain the currency of choice. Now the dollar’s usefulness is in doubt — the result of “creative schemes” from wall Street, overspending, failures to invest in itself and the inevitable downfall of the two engines of any economy — production of goods and services that people want, and the ability of people to pay for them. 

The European Union and the creation and adoption of the Euro as a competitive currency to the U.S. dollar was an inevitable bi-product of the Bretton Woods agreement and an American policy that pursued brute force and meddling in the affairs of other nations rather than the rather simple logic employed by such countries as Ireland, Brazil and Venezuela who have all achieved status by investing in their greatest resource — their own people. As nations join the European Union and the Euro gains increasing market share, the perceived safety of the judgment of a council of nations rather than dominance of a single nation is becoming apparent. It is proof positive that Obama’s perception of the world is right and that the other candidates are clueless as to the realities.

This represents a fundamental but entirely logical shift. It is a change from the acceptance of brute strength to consensus — a somewhat democratic consensus that captures the spirit of the American experiment if not its announced policies and secret agendas. 

It logically follows that the tide is changing with such force that it is unlikely that any one nation, no matter how strong, will gain world acceptance of its currency as the currency of choice for world commerce regardless of its military or political power. In the end it is people who determine agreement, acceptance and faith in the marketplace.  

When people start making distinctions of their own as to which “band” of dollar has greater value (recently issued or older) and discounting the dollar based upon their own individual perceptions the currency is in trouble. There are places where the signature of one U.S. Treasury secretary over another results in a discount of 10% or more. 

Thus it is the either the Euro that will eventually overtake the dollar or some other emerging union that will find acceptance. The dollar is in free fall and no amount of bailouts, regulation or creative solutions will suffice. The goal post has been moved. 

American policy should be changed to reflect the paradigm shift — to determine ways in which we would be an acceptable member of the European Union and gradually shift to the Euro has the currency of choice. In order to accomplish this, U.S. leaders must guide the country back on track toward production, rather than perceived “productivity” and purchasing power rather than perceived “corporate earnings.” There are plenty of examples around the world as to how to do this — they all amount to the same thing — education of every man, woman and child, in skills, culture, knowledge and analytical ability. The words are very simple and have already been written: “The pursuit of happiness.”

Reality Check: Where are the Checks, Balances, and Restraint?

Reality Check

Before we go forward with who called who a monster, or Ken Starr, bringing back memories of deceit, sex, lies and and videotape, let’s do a reality check. People are hurting and the candidates are getting information from advisors who simply don’t get it: the monster here is the economy, reflecting society decisions that are having screamingly negative consequences in people’s daily lives. 

Whether some adviser made an off the cuff remark does not address the real issues. We are bleeding all over the place — housing, jobs, the dollar, earnings, wages, purchasing power, and of course the Iraq war which represents an expense that cannot be covered and will drive up inflation to incomparable levels. 

But more than anything, it is the story of people, one at a time who are trying to make it. The stories are heart wrenching as the American Dream fades away from them while the Judiciary, the legislatures, the congress and the President do nothing but argue over ideology. While I don’t agree with everything this reader says, I agree with 99% of it. As we do pause for our fallen heroes in Iraq, take a moment and read this, a story of the fallen heroes who fought for, achieved and lost the American Dream.

Neil,

I had drafted a reply to your message many days ago. In it I had waxed so eloquently in regards to our situation, the same or similar, as that so many others are finding themselves in. 

It being that which may well prove to be our ultimate destruction…

…Despite our unwavering decision to fight the good fight for all that we’re worth!

It is an overwhelming and discouraging thing, to find one and ones family the target of such an attack by predatory lucre loving vermin, disguised as lawyers, bankers and “real” human beings! 

Vermin who have made it their goal to rob millions of people of billions of dollars and property, by manipulating and coercing the uninitiated public into forfeiting, not only their wealth and the fruits of their toil and tears, but also their very homes, and sense of sanctity, safety and security… 

…All in the name of “business” and “making a profit”!

It behooves us to comprehend how “making a profit” can be considered “profit”, when the “rewards” come from theft and deception?

In our obviously defective perception and understanding of the term “profit”, it has always meant the reward of gain that was received through the investment of something that one had right to, or had earned, and which had yielded fruit from being so invested.

Profit cannot, by our understanding, come from theft or guile, only the exact opposite can be claimed as being the reward for such negative and patently evil acts!

Thus, the manner in which these evil beings has contived and conspired to strip, not only us, but everyone who lives, as we all have need of shelter and sanctuary, as is offered by a “home”, and a “dwelling”, of every bit of the fruits of our labors, is completely and unspeakably reprehensible and unconscionable!

This is especially compounded when the thefts are then converted into “legal” business transactions, through the deft manipulation of the so-called judicial system by these vermin!

There once was a time when the term “legal” was synonymous with “right” and “just”. 

But that comparison is more of an exact antonym now. And it has become completely unsettling and deeply disturbing to see how wrong has become right, and that right no longer exists…

…Outside of some imaginary quality of character. and illusionary precept for a standard of personal conduct that is but a fading memory of another era, and which has died, or become extinct through lack of use, or belief.

To have watched, over the years, as the sole motivation for the peoples of a society, of which one is a member, has become the pursuit of personal enrichment for oneself, and damn the cost or expense that ones own gain of lucre may cost another, is like watching one’s own death while millions stand by, able to intercede and to stop the untimely demise, but whom remain unwilling to do so, without being compensated for doing so.

The fact of the matter is that we’ve become so acutely aware that the rampant greed which is consuming the people that were once considered fellow countrymen and women of ours, that it has resulted in our own awareness of being as aliens in a strange land! 

Not one of the multitudes of persons and businesses that we have paid out thousands to, for aid and assistance in our attempts to turn the tide of the onslaught against ourselves, and that against multitudes of others, also, has served to buy us one bit of genuine and effective help, or provided the least amount of effect in stemming or diminishing the effect or result of this attack.

On the contrary, the greed has so overcome this society and it’s more`s and morals so completely compromised, that no one seems to feel compelled to even try to live up to their promises of providing the services and/or results, for which they all demand to be paid so handsomely for, in advance!

One becomes painfully aware that the entire society, as a whole, has become nothing more than a pack of predators. All of whom, seek to devour the individual and consume all of their resources, with as much compassion and finesse as that exhibited by a feeding school of piranha’s!

We’re fought the good fight, so hard and for so long, that we’ve now been completely drained of resources, and our very spirit’s have become consumed and are nearly extinguished by the multiple manifestations of oppression and evil that have engulfed us and our lives!

It becomes easily understandable what should so motivate those poor deranged individuals, whom one hears about on the evening news, with increasing frequency, whom go into some public place, somewhere, pull out their arsenal of armament, and begin mowing down “innocent” victims, in droves!

One can easily imagine that these poor deranged individuals were once normal and compassionate person’s, also… 

…And, in fact, the true “innocent” “victims” of that self-same society, which they seek to lash out at…

… In a futile and self-destructive last dying act of self- defense!

For so long, now, we have held the belief that we would be able to overcome this onslaught against good, right and decency. 

And that, in so doing, we would be able to become members of a vanguard wave of change. 

Whereby, we could assist others in winning their own battles in this cause. Helping to guide them through the mine field, obstacle course, pitfalls, snares and booby-traps that await them, and, thereby enable many to reach that same elusive (and apparently imaginary) goal that we have fought so diligently and faithfully to attain.

Unfortunately, those opposed to us have been doing what they do for so long, that they have become far too efficient and proficient, from experience and practice, for the efforts of those like ourselves, taken in response to their greed and aggression, to be of any genuine use, or effect.

It has become impossible to continue to resist any longer and still retain sufficient strength, and barely adequate resources, to even move one’s physical presence and property to some other location… 

…Though God, alone, knows where that might possibly be, and He seems to have no concern, regarding us in this matter, any more…

We’ve exhausted far more money, and all of our time, spirit and attention, in fighting these thieves and crooks, than ever would have been required, had they not taken the initial illegal steps of wrongly declaring us in default, and then manipulating the payment history and records, thereby making it impossible to determine even who had actual possession of the note and right to initiate the foreclosure proceeding, or who, in fact, actually had begun it?

Through deception, sleight of hand, and hiding behind so many facades and fronts, the bankers have perfected the mechanism by which they do steal all of the wealth of the people, and once they have wrongfully taken that, then they take the people’s homes, also!

This country is being destroyed, even as I write this, by these evil people… 

…And, all of the wealth and fruits of our labors were, so long ago, traded off by traitors to our country…

… Those who were elected to serve and protect, and now we have all become serfs to the elite, the European banking cartel, which owns and controls the entire wealth and governments of the world, and especially America!

For three years we have fought valiantly to make our stand for what is right…

But, when faced with the unlimited resources at the disposal of our enemy, it finally becomes a matter of nothing more than defeat by attrition, in the end.

Even our faith in the Omnipotence and Omnipresence of God, has served to provide no reconciliation nor reprieve in the matter, and we feel that we are merely living out then last dying nervous twitches of a corpse that has already had it’s head detached and it’s heart removed from within it’s chest.

It is easy for one, whom has not been subjected to such evil and oppression, to encourage those whom are, to hold on and continue to fight.

But you have no idea the toll that it takes upon one, when one’s entire life becomes focused on defending oneself, and ones family, from such a relentless, heartless and continual onslaught and never ending attack, being made by far too many persons, on far too many fronts…

… Nor the depth of despair that engulfs one, when they realize that they’ve effectively wasted the last years of their life, in futile resistance to a lost cause, and an impossible to win, in their own strength, against such organized and specialized forces, battle for their rights and property, not to mention morals and ethics!

At this point in time, we’ve been reduced to having to declare an emergency bankruptcy, in order to temporarily stay the enforcement of a Writ of Restitution, and of having only approximately $3,000 worth of the Federal Reserve debt notes in our possession, which we can either exhaust by throwing them in with all of the others we’ve given in vain to save ourselves from this grievous wrong.

 Or, to finally admit defeat, and drag ourselves off into some dark corner, to hide and lick our wounds, hopefully to survive to fight another day.

Our lives have been irreparably damaged, our peace of mind destroyed, and our personal resolve and resources bankrupted.

The only thing good that has come of this, is that those behind the banking cartel that controls this country, and the entire world, for that matter, have earned themselves one more dedicated enemy, whom shall expend every possible avenue available to them to disrupt, harm, hinder or destroy anything and everything that those evil and demon controlled and inspired excuses for humans ever say, attempt to do, claim to possess, or stand for, and to encourage anyone who will listen to do the same.

Alone, we may not have been able to stop them from destroying our lives and stealing our home…

But, thanks to the power of the internet we’ll be able to multiply the effectiveness of our responses to their thefts and attacks, and we are certain that we shall cause them far more harm, damage and expense than they could have incurred, if they’d not sought to steal our home by fraud and deception.

We possess one thing that they can never steal, nor rob from us….

…The absolute knowledge that ours was, and is, a noble and righteous cause, and that, in the end, we win!

Despite any appearances to the contrary in this material world, here and now.

Thank you, kind sir, for your encouragement and attempt to solicit some assistance for us. We’re afraid that it’s far too little, and far too late, to be of any good or effect.

I never thought that I’d say this….

..But, we give up!

It’s become the only choice left..

… If we are to even survive at all!

And I won’t subject my wife to the humility of being forcefully ejected by the sheriff’s from what is rightfully our home….

I’ll put the match to it as we walk out the door, before I’ll let those bastards steal it, though!

The shame of it all is that we have a winning case, but no longer possess the outrageous retainer fee that any competent counsel demands before accepting our case…

…And our window of opportunity to defend ourselves in the matter closes on April 20th of this year!

Goddamn it, all to hell!

With that, I close.

Good day, Neil,

NAFTA-GATE: An Opportunity for Debating Real Issues

NAFTA-GATE

The mortgage meltdown is a by product of many different unsavory things. One of them is the effect of NAFTA and our complete lack of control over our borders which has suddenly sliced into the ability of middle-class to keep their job, get a job or earn enough to pay the mortgage and other expenses, even with multiple incomes. 

NAFTA-GATE is a good thing. It focuses attention on a central problem. When President Clinton signed it, congress loved it, Hillary praised it right up until 2 years ago despite the obvious loss of jobs, and the American public didn’t understand it. Now that we are starting to understand it, and we don’t like it. The more we learn about how it is being executed, the less we like it. Executive ability again comes front and center. 

Canada has its own problems with lower wages and loss of economic power. They have their own interest in seeing changes in NAFTA. It is quite likely that they reached out to find out what specifically the candidates had in mind. 

Obama’s people, according to the latest reports simply repeated what he had said in public. 

Clinton’s people apparently did two things according to the very latest information — [a] reassured Canadian officials that campaign rhetoric is not policy and [b] got someone in Canada to leak anti-Obama memo that would give Clinton an advantage in Ohio and Texas. Clinton admits that the untruthful NAFTA leak gave her an advantage. This eliminates Obama as a likely player in the creation of this script.

With investigations started in Canada, demands for resignations, accusations of meddling in American politics, apologies and finger-pointing we are once again left with dishonesty on the part of SOMEONE in the Canadian government, SOMEONE in the CLINTON campaign, and at least confusion in the Obama Campaign. It seems obvious that the one with the most likely access to Canadian officials would be Bill Clinton as former President since Obama had very little to do with Canada until now.

Once again we are dealing with a failure of executive leadership on the part of the Prime MInister, who should have had a handle on this if neutrality was the objective and a failure of executive leadership and judgment on the part of Hillary Clinton who was either dishonest or didn’t know what was going on).

Once again we are diverted from the real issues of renegotiating or opting out of NAFTA. In theory it was a great idea. In practice it is killing us. Canada could start with publicly stating its position on NAFTA, what it likes and what it doesn’t like.

The Candidates have started that discourse, but whether Clinton means what she says now or intends to return to her consistent praise of NAFTA and pride in her husband’s achievement in signing NAFTA is anyone’s guess.

Mortgage Meltdown: Send this NOW to your State Supreme Court and Local Court

The problem for homeowners is that however many ideas are put forward they won’t be effective in time to save most people, they won’t be in time to save the economy, and they won’t be in time to save our currency from further wrenching devaluation. It is the fierce urgency of now that cannot even wait to the election or January 20, 2009. There is only one place where immediate relief can be achieved — the Court System. There are constitutional impediments to interference with the mortgage foreclosure process. Yet there is authority in the judicial system to change the rules as long as it does not significantly impede or in this case, it should enhance access to the courts and the ability to mount a credible defense to foreclosures on predatory or fraudulent loans. 

These are the rules that could be enacted by each court in the land that would [a] slow down the process and [b] protect borrowers from the steamroller of lender foreclosures and [c] protect lenders, investment bankers and investors from themselves. These rules preserve and enhance due process so that the unsophisticated borrower is not wiped out again by his or her lack of knowledge. 

 

Emergency Provisional Rules

Mortgage Foreclosures

These emergency rules of civil procedure apply to all foreclosures on all property, real or personal, initiated on or before January 1, 2007. No Judgment shall be executed, or if already executed, enforced, and no order of removal or eviction or seizure related to foreclosure shall be executed, or if already executed, enforced unless a Court of competent jurisdiction shall have executed an order finding as a matter of law and fact that the foreclosing party(ies) have complied with each and every provision contained herein.

1. Every Petition for Foreclosure and/or every action undertaken by a foreclosing party prior to seeking recovery or seizure, or occupancy of property, shall require the foreclosing party(ies) to file a verified complaint or affidavit alleging the facts supporting the claim for relief, executed by a person with actual knowledge of all facts alleged. The executing party on said verified Petition or affidavit shall affirmatively allege and actually be available for the taking of testimony by deposition or at an evidentiary hearing in the jurisdiction in which the property is located.

2. Each such Petition or Affidavit shall state the names and addresses of all parties involved in the loan transaction and shall be served under the rules governing service of process upon each of said parties as third party non-party litigants, if such parties were not the lender or borrower.

3. Each such Petition or Affidavit shall account for all funds that were passed through or to each party named in the action, the disposition thereof, and the manner and time in which the passage of said funds were dispersed, together with a citation to the mortgage documentation, including a quote of the relevant passages in the body of the Petition or Affidavit wherein said funds are disclosed and wherein said funds are authorized. 

4. Each such Petition or Affidavit shall state with particularity whether any changes occurred after the closing of the subject loan transaction in which parties or persons were changed including the names and addresses of all parties and persons related to the transactions subject to the mortgage.

5. With respect to sale or assignment or any joint or sharing arrangements concerning ownership, distribution of risk, or securitization in which the subject loan was referenced as collateral or otherwise, each such Petition shall state with particularity the details of each such transaction, the distribution or re-distribution of funds, and the documents employed by said parties after said closing.

6. Each and every such Petition or Affidavit shall affirmatively state that the foreclosing party(ies) have standing and authority to bring the action, defend counterclaims and answer affirmative defenses. The signature of the attorney on said pleading shall be mandatory and shall constitute a representation to the COURT that the filing attorney has performed proper due diligence to ascertain the truth of the allegations of legal standing and all other allegations.

7. Each such Petitioner or Affidavit shall be accompanied by attachments of the referenced documents to be included with the first service of such Petition or Affidavit.

8. Each such Petition or Affidavit shall state with particularity and specificity each disclosure made to the borrower and any third parties involved in the transaction under the Truth in Lending Act and the corresponding provision of the mortgage documents executed by the borrower which supports said disclosure.

9. Each such Petition or Affidavit shall state with particularity and specificity each disclosure made to the borrower and any third parties involved in the transaction under the Truth in Lending Act and the corresponding provision of the mortgage documents executed by the borrower which does not support said disclosure. If any allegation other than “none” is made under this paragraph, the foreclosing party(ies) shall state with specificity the law or fact upon which they should be excused from compliance.

10. Each such Petition or Affidavit shall attach a full and complete accounting of all money, value or funds transmitted, paid or or promised between all parties involved in the loan transaction before or after the loan transaction. In the event the borrower has been overcharged, undercharged, or charged correctly, the Petition or Affidavit shall so state affirmatively, providing a full accounting of said funds. 

11. No answer or response from the borrower shall be due unless and until the foreclosing party(ies) are in complete and full compliance with the provisions of these rules. Any prior answer or response may be amended by the borrower after a determination is made that the foreclosing party(ies) are in full compliance. No prior Judgement, order or other document or rule shall prevent the borrower from filing a response or answer after the foreclosing party(ies) are found to be in compliance with these rules.

12. In the event that the foreclosing party(ies) fails or refuses to comply with these rules, the foreclosure shall be barred with prejudice and until the terms of the mortgage are determined with certainty by the Court by clear and convincing evidence, no payments to the mortgagee shall be due. This provision that not apply to payment to taxing authorities. In such event of delay caused by the the foreclosing party(ies) the court may fashion such equitable remedies as the Court deems fit in its discretion. for example, the Court could apply delinquent payments to the end of the mortgage, thus extending the terms. 

13. In the event of non-compliance with these rules wherein the foreclosing party(ies) demonstrate to the Court the probability that they could amend their filing to conform to the requirements herein, the foreclosing party(ies) shall file an amended Petition or Affidavit on or before thirty (30) days from the date of the order of the Court allowing the amendment. Failure to file within said thirty period shall be grounds for a mandatory immediate dismissal with prejudice. 

14. In the event of the filing of a verified amended Petition or Affidavit, Borrower shall have sixty (60) days in which to answer or respond. Failure to answer or respond shall not relieve the burden of proof of the foreclosing party(ies) in compliance with state, local and Federal law, and in compliance with these rules.

15. The Court may grant attorney fees and costs to the prevailing party in each case where a motion or other filing occurs, wherein a determination is made in an adversary proceeding that the filing is in or out of compliance. 

16. In the event a foreclosure has already been completed and all subsequent and customary actions have occurred and no bona fide third party has taken control or occupancy of the property, these rules may applied retroactively. 

17. Once compliance has been established and the issues are joined, the Court shall enter an order requiring the parties to enter into a process of mediation. The purpose of the mediation shall be to fashion a settlement which provides relief and incentives to all affected parties, including non-party litigants. Mediation shall take place no earlier than thirty (30) days after the entry of the mediation order, and not later than is reasonably possibly given the volume of cases and the availability of competent mediators.

These rules are subject to review by the Court but are effective immediately. Comments and applications to be heard shall be available in keeping with the usual and customary methods of proposed rule changes. Said rules shall be effective unless and until stated otherwise by the Court.

 

Goodbye Reagonomics, Hello Obamanomics

Money is basically a form of religion. Like God it cannot exist without faith and confidence of people whose actions are governed by their trust in the future. Fiat money predominates now which means that our currency like many others, is entirely dependent upon the degree to which we trust each other to accept the currency as a uniform  and stable store of value.

Without that faith, money, with or without fiat from the government that issued it, is worthless. Other forms of exchange would predominate (like barter systems or vouchers) or other currencies would become accepted — like wampum, tobacco, rice and even stones and shells have been accepted for thousands of years in some parts of the world. Without directly referring to the true nature of money, Edwards helped define the discussion, Clinton pandered to it, and Obama lived it, breathes it, and makes it happen. So what can we expect from this improbable man? What will be result when he is President?

America is never “just right.” The pendulum always swings too far in both directions. we are at that point where the corporatocracy gives way, willingly or unwillingly, to populism. The day will no doubt come for the pendulum to swing the other way. What we get with Obama is the opportunity to restore faith in the U.S. economy, trust in American policy, and a chance to at least minimize the damage to the U.S. dollar. Somethingshave changed forever so we should not look for a return to the good old days.

It’s a new world out there and the United States does not really dominate it the way it once did. We have gone from half the world economy to less than a quarter of it. Militarily we are stretched thin, dealing with many radical regimes whose agendas undermine commerce, safety and human rights. Our middle class, what is left of it, is on the ropes — in an economy that depends upon the middle class to fuel it with consumer spending. Over-reaching by unregulated lenders, investment bankers, and institutional rating and insurance entities has resulted in the largest case of economic fraud in human history.

The next President, in all likelihood Obama, will face a series of urgent challenges to the country. If he is true to form in his personal history American jobs, healthcare and middle class income will be the centerpoint of his first year in office. If his programs work, the effect won’t be apparent until some time after that. In every economy there must be some referee to bring some sort of equilibtrium to the marketplace, allowing growth, success, innovation and and an equal opportunity for distribution of wealth and upward mobility. When the scale becomes unbalanced — like when the corporate interests forced us into the Spanish American War, it is time to break into that power base and allow the populace access to the levers of power.

Like many democrats before him, Wall Street’s predictions of doom and gloom will be proven vastly overstated. Only the corrupt need fear the new administration. Those that created the mortgage meltdown, CDO fraud, and credit crisis have plenty to fear. They needed an environment where, with impugnity, they could trick unsophisticated borrowers into signing their own financial death warrant, and where they could trick money managers and other investors into buying what appeared to be very safe, triple-A rated, insured investment vehicles giving a higher than normal return on investment. 

If Obama succeds in restoring faith and in getting money into the hands of American consumers, and if those consumers both spend and save, eschewing steadily mounting debt, the economy will recover, the financial foundation of our society will improve and Wall Street will do very well in an environment where investment vehicles from America are trusted again.

This blog is devoted to analyzing the U.S. and world economy in the context of populist U.S. President. Your comments are invited and appreciated.