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IPFS News Link • Housing

Karl Denninger on Stealing Houses

We have had two sequential administrations - Bush and now Obama - that have intentionally refused to prosecute any of this lawless behavior. This refusal continues to this very day with admissions in depositions under oath of the commission of literal tens of thousands of felonies per month (each instance of falsely swearing before a court is a separate count of fraud upon the court and, in the case of "robosigning", forgery - affixing a notary's signature by other than the actual notary.) Yet despite this having been confirmed in multiple depositions going back several months not one indictment has issued thus far and Attorneys General talk about not wanting to "upset" the banks or the "economy." The message could not be more clear: So long as you make lots of tax revenue (and money for yourself), it's ok to rip people off, subvert justice and mislead courts and we won't send you to prison even though your conduct is felonious. The media and others wish to spin this as "technical errors." Nonsense. These are serious crimes. They do not become "technical errors" because some large financial institution committed them. Breaking and entering is a felony irrespective of who does it - the offense does not suddenly disappear if a monster bank is the perpetrator who directs an agent of theirs to commit the offense. Until and unless all of these lawless acts receive indictments in response I will not condemn anyone who chooses to act in exactly the same form and fashion as is done to them, and in my opinion neither should anyone else. It's that simple - either the law applies to all or it applies to none. There is no middle ground. I cannot countenance what the Earls' have done. But at the same time, a trial by jury is a civil right respected in the US Constitution. The moment they were denied their civil rights they were left with no recourse through lawful behavior and thus had only the choice of a stick in the teeth or to act with the same lawlessness that was served upon them. They decided upon the latter course and I argue that was their right to do in the instant case. The government can change my opinion on that any time they'd like - it can remove the Judge who refused their right to a trial by jury, restoring same, and it can indict and place in the dock the robosigners who forged documents in their original foreclosure. Due process of law and Constitutional Rights are not suggestions, and until they apply to all I refuse to selectively endorse their application against only "little people." Forgery and fraud are not complicated offenses, nor is breaking and entering. The lawless behavior began with the financial institutions involved and if lawless acts resulted in an alleged conveyance of a title from a standpoint of justice - whether a gavel banged or not - from an ethical and moral standpoint it simply never happened. No person should be buying Real Estate or proceeding with foreclosures until (1) the lawlessness stops and (2) those who violated the law all the way back to the origination of these securities are indicted and put in the dock for their offenses. The conveyance of real property interest is both a state matter and subject to strict scrutiny - so says 200+ years of jurisprudence in The United States. Those who buy allegedly in good faith but have received nothing due to these "robo" enterprises have no gripe with the people who did not get their fair day in court - their gripe is with the firm(s) that contracted with the robosigning outfits along with the quite-possibly bogus title chains they were trying to cover up.

1 Comments in Response to

Comment by Ned The Head
Entered on:

On a kinda similar note, the world just learned there's favorites in NATO. Yeah, the treaty is one of mutual aid but the unwritten rules are "unless your aggressor is Israel in which case you can all go to hell". Turkey found this out recently. For more understanding, we go back to the playground.

When the rules keep changing to favor a few, everyone else stops playing the game.