Collarspace Discussion Forums


Home  Login  Search 

Brooklyn Beatdown! Judge Shack Slams Citi "The Court does not work for CITI and cannot wait for


View related threads: (in this forum | in all forums)

Logged in as: Guest
 
All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion >> Brooklyn Beatdown! Judge Shack Slams Citi "The Court does not work for CITI and cannot wait for Page: [1]
Login
Message << Older Topic   Newer Topic >>
Brooklyn Beatdown! Judge Shack Slams Citi "The C... - 12/16/2010 1:25:11 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
Brooklyn Beatdown! Judge Shack Slams Citi "The Court does not work for CITI and cannot wait for CITI to get its "act" together"
Profile   Post #: 1
RE: Brooklyn Beatdown! Judge Shack Slams Citi "T... - 12/16/2010 2:41:47 PM   
DarkSteven


Posts: 28072
Joined: 5/2/2008
Status: offline 		If I've read it right, there is a new law requiring a foreclosing entity to read its own paperwork and affrim that it is correct prior to filing for an instant judgment.  I wouldn;t consider this so much a victory for justice as much as one for decency.

Not so much a beatdown as a "tut tut"!


_____________________________

"You women....

The small-breasted ones want larger breasts. The large-breasted ones want smaller ones. The straight-haired ones curl their hair, and the curly-haired ones straighten theirs...

Quit fretting. We men love you."

(in reply to pahunkboy)
Profile   Post #: 2
RE: Brooklyn Beatdown! Judge Shack Slams Citi "T... - 12/16/2010 3:39:31 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: DarkSteven

If I've read it right, there is a new law requiring a foreclosing entity to read its own paperwork and affrim that it is correct prior to filing for an instant judgment.  I wouldn;t consider this so much a victory for justice as much as one for decency.

Not so much a beatdown as a "tut tut"!



I had not thought of that.  Like why wouldn't one read the paperwork they sign?



(in reply to DarkSteven)
Profile   Post #: 3
RE: Brooklyn Beatdown! Judge Shack Slams Citi "T... - 12/16/2010 9:03:02 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		Because they thought they didnt have too, pa. They were signing, in some institutions, 600 affidavits a day. Clearly, no one could read that many and sign them. Which is why so many foreclosures were put on hold. Not reading and then signing them is fraud.

_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to pahunkboy)
Profile   Post #: 4
RE: Brooklyn Beatdown! Judge Shack Slams Citi "T... - 12/17/2010 2:08:42 AM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		FR

As far as I know this is just like suing someone. You are going to court to get it to enforce tort law. You must substantiate your claim of course.

In this case we have a giant as a plaintiff, and the giant is like a bully, "You BETTER be on my side".

It sounds like in this case the judge did his job.

In FL they put pressure on to just forego the court proceeding altogether, and in many cases people really didn't pay. But if I do something for someone whether it is loan them money or perform a service and they fail to pay me I sue them right ? Well the court would want to see proof that I am owed the money right ? It's been fucked up for a long time now, with whoever has the most resources winning alot of cases. Yes it is not always the case but did you notice you only hear about when the little guy wins against the big guy in court ? That is because it is noteworthy. Really, millions of lawsuits are filed every year.

T

(in reply to tazzygirl)
Profile   Post #: 5
RE: Brooklyn Beatdown! Judge Shack Slams Citi "T... - 12/17/2010 2:39:14 AM   
DarkSteven


Posts: 28072
Joined: 5/2/2008
Status: offline
quote:

ORIGINAL: pahunkboy

quote:

ORIGINAL: DarkSteven

If I've read it right, there is a new law requiring a foreclosing entity to read its own paperwork and affrim that it is correct prior to filing for an instant judgment.  I wouldn;t consider this so much a victory for justice as much as one for decency.

Not so much a beatdown as a "tut tut"!



I had not thought of that.  Like why wouldn't one read the paperwork they sign?



That's the whole point, hunky.  The mortgage companies thought they had found a source of easy money.  As long as real estate prices rose, their collateral (the house itself) meant that they could not lose money in making loans.  So the mortgage companies:

1. Sold mortgages to people that were not creditworthy.  In one of the more egregious cases, a gardener making minimum wage was given a mortgage on a home worth some $700k (IIRC).
2. Forced appraisers to make fraudulent appraisals to justify loans.
3. As tazzy said above, had people sign hundreds of papers a day, if not an hour, stating that they had read the papers.
4. Spread the risk by slicing and dicing the loan instruments in collateralized debt obligations (CDOs).
5. Got risk agencies to issue AAA ratings on these pieces of crap CDOs.

In other words, they committed massive fraud.  When the crap hit the fan and RE prices fell, they got the government to bail them out using tax money.  Yep, you and I and all of us paid off the criminals for the crimes they committed, so they could continue to earn seven figure salaries.

The latest problem is that these greedy criminals have no way to deal with foreclosures on the scale they have caused.  So they're trying to continue business as usual - rush things through without doing proper paperwork or looking at what they've done - and they were told that they have to actually DO THEIR JOB.



_____________________________

"You women....

The small-breasted ones want larger breasts. The large-breasted ones want smaller ones. The straight-haired ones curl their hair, and the curly-haired ones straighten theirs...

Quit fretting. We men love you."

(in reply to pahunkboy)
Profile   Post #: 6
RE: Brooklyn Beatdown! Judge Shack Slams Citi "T... - 12/17/2010 3:45:31 AM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		And what happens now DS ? They want what they can afford to hold onto and reap a bit more in the future. It'll probably take 6 - 8 years before prices get back up into the reasonable range so now I see they are going to have to pick and choose. In time they'll be sitting on alot of properties and once the time is right they will again make money renting the money to buy it to those who want it. Thus the process repeats, unless the system collapses.

Damn shame, alot of us are sharp enough to see the scam, but dammit, to come up with the scam was impressive. Eventually we will, by inflation and deflation, wake up as serfs and paupers in a land that was fought and died for. Jefferson was right.

T

(in reply to DarkSteven)
Profile   Post #: 7
Page:   [1]
All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion >> Brooklyn Beatdown! Judge Shack Slams Citi "The Court does not work for CITI and cannot wait for Page: [1]
Jump to:





New Messages No New Messages
Hot Topic w/ New Messages Hot Topic w/o New Messages
Locked w/ New Messages Locked w/o New Messages
 Post New Thread
 Reply to Message
 Post New Poll
 Submit Vote
 Delete My Own Post
 Delete My Own Thread
 Rate Posts




Collarchat.com © 2025
Terms of Service Privacy Policy Spam Policy

0.063