Bank of America Fighting to Reverse Foreclosure Freeze in Nevada « naked capitalism#comment-311098

Of course they are fighting to reverse the ruling!.......Why? Because they will be busted for years of fraud and illegal foreclosures if the ruling does not get reversed. The issues is not just about rule of law. It is about property rights in our country. The rights that have been trampled by the banks with the creation of MERS. The other issues is that the banks are the creators and cause of the finanical meltdown. They were not subject to rule of law when they were bailed out or when they were allowed to use phatom accounting to appear solvent. They have done everything including breaking the law to stick it to the home owner, who was not the root cause of the meltdown. However, the banks continue to push this theory because the politicans are afraid to stand up to the money. They are so scared to hold the banks accountable because they want money as bad as the banks. This is more than a trasfer of wealth to Wall Street it is also turning into the biggest Land Grab ever in the country. If the fraud by the banks is allowed to continue the banks could have claim to everyone's home whether the mortgage is paid off or not. People are sadly mistaken if they think these issues regarding chain of title, mortgage and note transfer etc have no adverse effects on the country and all of our property rights. They banks now are following up their law breaking by refusing to do the right thing now that they were bailed out. The right thing being loan restructuring to keep families in their homes and keep the housing market from going deeper the foreclosure vortex that could lead to a 10 or 15 year housing stagnation. I have seen statitics in parts of the country that had seen 11 years price stagnation even without this massive housing meltdown. So it certainly is possible for it to happen again. Bank of America Fighting to Reverse Foreclosure Freeze in Nevada « naked capitalism#comment-311098 Make big money in penny stocks today