Massachusettes Supreme court rules agains foreclosure

[Toma]

In case you don't know.... US banks lend imaginary money on ratios over 10:1 of cash holdings, more like 1000:1 when you count leverage and re-investment.

So they lend it out on interest, you pay it back. They take your loan, bundle it up with other loans, and sell it to wall street as various investment vehicles.

Now, that the foreclosures are trickling in, they want to be paid back, or foreclose, but they don't actually physically hold the mortgage anymore. It's out in lala land.

Their bluff was called, and the courts are ruling in the peoples favour.

http://www.bloomberg.com/news/2011-01-07/us-bancorp-wells-fargo-lose-pivotal-massachusetts-foreclosure-case.html

Here is a clip from Capitalism: A love Story, Moore's brilliant last film.

Here Rep M. Kaptur tells the American people "Be squaters in your own homes!" and they dont have your mortgage!

http://www.youtube.com/watch?v=kYLLqoVqouU&feature=related

Awesome!

[ZenOps]

Yup, you can squat your own house if they lost the paperwork to it... Better yet - find another person in your dire mortgage situation and cross-squat.

Which is possible considering the numbers of foreclosures that are going through. And that that singular mortgages are owned by literally hundreds of investors at a time.

They can't foreclose on houses if they don't have the dollar equivalent to cover the value. Its a little like shorting the market (like what JP Morgan recently tried to do with paper silver, and has since given up and moved to more affordable copper) When it works - banks get rich, when they screw up - citizens get rich.

Sad though, that JP Morgan doesn't even have the strength to manipulate silver and had to try it on copper. JP won't even touch mortgages anymore.