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The Deutsch Bank-DOJ Dance

livinglies.wordpress.com | September 20, 2016

By Neil Garfield

The DOJ continues to participate in this PR scheme to keep people from asking — “if everything was so illegal at the top of this food chain, why are we treating the bottom of the food chain as presumptively legal.”

THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.
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In the continuing charade that covers up the true nature of the crimes committed by the major banks, the DOJ has made a demand for $14 billion from Deutsch Bank for its issuing and underwriting of bogus mortgage bonds. The demand probably should have been 1,000 times higher and against all the connected banks --- i.e., the fact that the major banks, while appearing to be competitors, were actually participating in an illegal "pool."

The demand is meant for public relations so it looks like the department of justice is doing its job. They are not. And that is what Senator Elizabeth Warren is complaining about. And everyone on the inside knows that Deutsch will pay only a fraction of that demand, which satisfies investors.

The DOJ continues to participate in this PR scheme to keep people from asking --- "if everything was so illegal at the top of this food chain, why are we treating the bottom of the food chain as presumptively legal." The top is the investment banking and the bottom is the alleged "lending." [I have recently come to the conclusion that the alleged "closings" were not loans, in any legal sense --- something I am sure by critics will say is patently absurd. But there are many legal theories and doctrines between the words "loan" and "gift."]

The dance and the music keep playing because nobody wants to stick a pin in the giant bubble known as the shadow banking market, where approximately $1 quadrillion dollars in nominal value is stored or traded. That market depends entirely upon the facial validity of the mortgage bonds and other instruments issued by nonexistent trusts. If it leaks out that the Government and the banks know full well that the nominal values in the shadow banking market are an illusion then the entire market collapses like a black hole in physics. The fear is that if that happens all financial markets will freeze up and everyone will go broke.

My view is quite different but nobody can prove anything without acting. My view is that by sticking a pin in the bubble the major banks will collapse, the thousands of smaller banks will pick up the slack, and panic will only be as large as the Government lets it. In any event when the dust clears, the major banks will be gone and the financial landscape will once again be returned to a freely competitive level playing field. The living lie that is the financial market will be removed.

The "loans" will be temporarily be some sort of unsecured liability and if the Government steps in and does what is right, the GSE's will step in and create a viable creditor to enforce the liabilities of homeowners on a level playing field where the interests of the original investors are protected and where the retention of the property is at least possible for the homeowners. New notes and mortgages will be executed and title and protected interests will clear for at least a substantial portion of the public (homeowners and pensioners) that has been dragged into the quagmire by the tricks of arrogant bankers on Wall Street. Our economy would be based in truth instead of compounding lies and we would have the ability to restore household wealth the way Iceland did it, producing a robust economy. But what do I know --- I could be wrong.

 

 

 

 

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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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