The LaRouche Plan
The Basement Project
Forget any recovery in sales of new or existing homes, based on the 10% increase in sales of existing homes in May 2012, or anything else, says Gretchen Morgenson in today's New York Times.
Ohio Attorney General Richard Cordray has blasted the big banks trying to restart evictions in Ohio after claiming they've fixed the problems in their foreclosure processes. Cordray ridiculed Wells Fargo's efforts to replace affidavits in 55,000 foreclosure cases that, it admitted, did not "adhere" to the law.
On Wednesday, Illinois' Cook County Sheriff Thomas J. Dart announced he is suspending all foreclosure evictions. Cook County includes Chicago.
While the Obama Administration made a big deal of launching a "task force investigation" of foreclosuregate, and "holding the banks accountable," the top housing official made clear that it was all a pre-Election Day show and a lie. The Obama White House "sees no fraud, hears no fraud, speaks no fraud" — and wants millions more American households foreclosed as fast as possible.
All 50 State Attorney Generals announced Wednesday that they, and the state banking regulators, have joined forces to investigate systemic bank mortgage fraud, as calls for a national moratorium on foreclosures are increasing.
A majority of Americans surveyed in recent polls want President Obama to impose a national foreclosure moratorium — which he opposes in his continuing defense of the bailed-out banking fraud known as Wall Street.
Julia Gordon, Senior Policy Counsel for the Center for Responsible Lending, told members of the Troubled Asset Relief Program (TARP) Congressional Oversight Panel on Wednesday:
Several more Congressional Democrats have called on President Barack Obama to use executive authority to declare an immediate national moratorium on foreclosures, even while Obama's enthusiasm for what he calls "valid foreclosures" has become clear.
In August, 2007, the LaRouche Political Action Committee (LPAC) announced a mass mobilization to force Congress to enact the Homeowners and Bank Protection Act of 2007 (HBPA).
"Foreclosuregate" is the name now spreading across Internet blog sites, to describe the rapidly escalating crisis and scandal around the phoney mortgages and MBS derivatives. The Obama administration has weighed in heavily with the dictum that the foreclosures must go ahead, regardless of the illegalities or the human consequences.