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News Link • Corruption

Bill Black, Part II: Close The Big Banks. Now.

What to do? We suggest an immediate moratorium on foreclosures and a requirement that all notes be produced by purported holders of mortgages within a reasonable length of time. If they cannot be found, the mortgages -- as well as the securities that pool them -- are no longer valid. That means that the homeowners are not indebted, and that the homes are owned free and clear. And that, dear bankers, is a big, big problem. It is also the law -- without evidence of debt, there is no debtor and no creditor. Yep. Either show up and prove up your alleged claim, or it doesn't exist. Force the fraud out into the open and force those who committed it to be held to account for it. The "collateral damage" inflicted by the SDIs is now endangering tens of millions of American families -- most of whom played no role in the speculative euphoria. Almost half of American homeowners are already underwater or on the verge of going under. In short, it was Wall Street that turned our homes over to a financial casino -- and so far virtually all the losses have been suffered on Main Street. Why of course. The man on Wall Street looks like this, although he tries to convince you he doesn't. So what to do? Well that's simple: Arrest them all.

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