Foreclosure-Gate: The Blessing (And Curse) That Is The "Linda Green" Signature

05-27-2011 • ZeroHedge.com

When we presented our follow up post on Sarah Palin's recent house purchase, various elements from the Pavlovian fringe decided to make the idiotic assumption that the post, and the one preceding it, were some hit piece targeting the presidential candidate. Actually, no. Frankly, we have absolutely no opinion of Ms. Palin, and as such have no intention of writing "hit pieces", or any pieces, targeting her. The whole point of the posts was to demonstrate that even a person, who soon may or may not be president of America, could have fallen for what is now the most massive mortgage fraud scheme in the history of this country (which will certainly cost banks tens if not hundreds of billions of dollars to ultimately resolve). And while we will have many more discoveries on the matter soon, as we pointed out, the key link in the whole story is the mythical entity known as "Linda Green." While the backstory is by now very well known by most, for those to whom the reference is still unclear, we present the following investigative reporting piece by WHDH.com which explains why the Linda Green signature appearing anywhere in one's mortgage doc history, is a "blessing" and comparable to winning the lottery. Furthermore, we make no ethical judgments about whether strategically defaulting on one's mortgage is "good" or "bad" - the reality is that we are where we are. As Marie McDonnell, a Forensic Mortgage Analyst says, "I'm speechless. The scope of the problem is unimaginable, the depth of the fraud is shocking." And therein lies the rub: when all is said and done, banks will ultimately be saddled with another massive round of losses, which will then necessitate another round of taxpayer bailouts, which will then likely be orchestrated by the mainstream media machine as a conflict between those who pay their mortgages and those who don't, instead of focusing on the core problem: unimaginable greed by the financial system to do whatever it takes to fatten the bottom line, which includes breaking the law. And the longer we pretend the problem does not exist, the bigger the ultimate bail out (see Greece).