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View Diary: 60 Minutes uncovers the blatant Fraud, behind Mortgage Foreclosure Document Mills (204 comments)

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  •  what about DOCX? (16+ / 0-)

    According to the 60 Minutes piece, they hired people to provide fraudulent signatures as "bank vice presidents" and as "notaries" who "notarized" that the "bank vice presidents" really were bank vice presidents.

    That's criminal fraud conspiracy and forgery and making false statements to the courts, on a mass-production scale.  Think of it as the legal equivalent of a conspiracy to commit perjury, multiplied by tens of thousands of incidents.  

    I can't imagine any way on Earth that the people who ran DOCX aren't going to be prosecuted and sentenced to long prison terms.   To tolerate that level of forgery and fraud would undermine our entire system of justice in a way that nothing else could possibly do.   And in that case the only recourse would be vigilante justice meted out by enraged victims against the responsible parties.  

    Do we really want to go there?

    •  It's also RICO eligible. (9+ / 0-)

      Jus' sayin'..................................................

      (Gee, seize BofA and Chase ??? I wanna see the SNL skit about that one.)

      Angry White Males + Crooks + Personality Disorder psychos + KKKwannabes + "Unborn Child" church folk =EQ= The Republicans

      by vets74 on Mon Aug 08, 2011 at 05:56:46 AM PDT

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    •  I can imagine. (2+ / 0-)
      Recommended by:
      esquimaux, neroden

      Step 1: Obama gets reelected or whichever GOP wacko gets elected.
      Step 2: No prosecutions of wealthy and powerful offenders.

      The two things Teabaggers hate most are: being called racists; and black people.

      by Punditus Maximus on Mon Aug 08, 2011 at 08:31:22 AM PDT

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    •  I *expect* us to go there. (0+ / 0-)

      I do not want us to go there, but everything I've seen indicates that the people who ran the document forgery company are going to get away scot free.  

      And that's the least of it.  If you actually dig back through the Naked Capitalism or Barry Ritholz archives you'll find out that this is a well-documented nest of systemic fraud.  MERS is a complete fraud, and every major bank in the country was in on it.  DOCX was simply providing cover-up services!  And that's before we start explaining servicer fee fraud or the fraud against the investors....

      Frankly, I expect the Obama/Bush government to do everything it can to help the criminals.  Luckily, real property law is a state matter, so some state governments may properly arrest and imprison the criminals.  However, others (like Iowa) appear to be making efforts to protect them and give them blanket immunity for their crimes.

      As you say, when there is no other justice, people will mete out vigilante justice.  I don't want it, but I expect it -- we've had national systemic frauds well-documented for over 3 years and the reaction of most of our elites is to attempt to help the fraudsters.

      There are exceptions.  NY AG Eric Schneiderman is doing the right thing.  (Which matters a lot because the MBS were all supposedly organized as NY trusts, so he effectively has national jurisdiction over part of the fraud.)

      Read pp. 1-7 of Krugman's _The Great Unraveling_ (available from Google Books). NOW.

      by neroden on Mon Aug 08, 2011 at 05:55:26 PM PDT

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