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Ellen Brown on Max Keiser: MERS to REMICS to Robo-Signers

03 Nov

Ellen Brown is one of the most cogent thinkers and speakers in this financial crisis.

We were thrilled to find this October 19th 2010 Max Keiser Report with special guest Ellen Brown.

Pay close attention to Ms. Brown’s explanation of how the banks manipulated the housing bubble to rake in trillions ‘off the top’ in fees and bonuses.

The multi-trillion dollar derivatives black hole continutes to swallow up America.

Firms hire hair-stylists and BurgerKing workers to sign foreclosure documents…

More on MERS – bankruptcy remote – merely a ‘conduit’… Except that oops, MERS has been foreclosing in its own name – but as it doesn’t own anything, then it cannot foreclose on anything – so, well, we’ll just affidavit these notes and mortgages into Trusts – but, these Trusts are REMICs and they cannot have properties added to them after they are created…

Enter the Special Purpsose Vehicle – heh heh where we can put our money on a daily basis – is it a sale or is it a securitization?  Whoops, broken chain of title – no security instruments – Oh but there might be 30 synthetic credit default swaps riding on the property – just waiting for the foreclosure – hmmm  as the layers of toxicity rise and are sold as ‘securitization’ – ponzi in its latest form.

 

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