Fraud Factories: Rep. Alan Grayson Explains the Foreclosure Fraud Crisis

[babylonsister]

Run time: 07:49 https://www.youtube.com/watch?v=AqnHLDeedVg   Posted on YouTube: September 30, 2010 By YouTube Member: RepAlanGrayson Views on YouTube: 27214   Posted on DU: October 03, 2010 By DU Member: babylonsister Views on DU: 778

 
This is Rep. Alan Grayson explaining the crisis of foreclosure fraud and how it links to the entire securitization chain of Wall Street.

http://digbysblog.blogspot.com/2010/10/blighted-titles.html

Blighted Titles

by digby

If you've been following this amazing, unfolding foreclosure fraud story then you probably already know that JP Morgan/Chase, BofA and GMAC have all suspended foreclosure processes around the country now that it's been revealed they've been committing massive fraud. And Attorneys General in a number of states have also stepped in to stop the process, for the same reason.

But if you are just coming into the story, as is most of the national press, Alan Grayson has prepared a valuable primer on the crisis that's wee worth watching:

He lays out the history from the beginning when mortgage mills failed to properly file documents, instead using shortcut electronic transfer program instead of the documentation required by law. It's snowballed from there, to the point where nobody really knows who owns what and the crisis atmosphere has given cover to fraudsters, con men and greedy bankers.

more...

http://digbysblog.blogspot.com/2010/10/blighted-titles.html

[democracy1st]

1. K & R thanks for posting babylonsister

[JDPriestly]

2. Great video. Thanks.

[Junkdrawer]

3. Kick

This video was posted before its time.

[Generic Other]

4. K&R

Thanks for this!!