Huge Pay & Bonuses for Fannie & Freddie Executives! Cover-up attempted by using Holiday eviction delays

In an attempt to "cover-up" the insidious and outrageous bonuses they had planned to award themselves, a Fannie Mae insider was told to leak word that a "goodwill announcement" (press release) is imminent. This Holiday Goodwill is purported to be a two week (Dec 19th - Jan 2nd) "temporary suspension" of scheduled foreclosure evictions. It's intended to show the companies compassion, for homeowners, during the 2011 December Holiday season.   REALLY?...Compassion? Homeowners - expect the below 2011 Holiday Greeting Card.

The timing of this hollow & bogus gesture coming from the collapsed and failed Fannie Mae should cause OUTRAGE to all homeowners. It will surely be followed, by a similar announcement, from the other step-child, also in government foster care - Freddie Mac. The planned Holiday Announcement (yet to be made) was originally scheduled to be released two weeks ago and was supposed to give an additional 3-day eviction reprieve and encompass the Thanksgiving Holiday period of Wednesday Nov. 23rd - Friday Nov. 25th.
I can only imagine the excitement that would have been expressed by many homeowners. Something like..."Wow...your kidding...a whole 3-days...what a life-saver!"

Art Work by Pete Graff

However, after their outrageous pay and bonuses were made public, it was decided to temporarily delay the phony announcement good news about the 3-day Turkey eviction reprieves. Instead the top 2 executives heading the seized housing fiance giants were dragged "up the hill" (to Washington) and forced to explain, to members of a Congressional committee, why they deserved a combined $12 MILLION in salary and bonuses for 2011. Yes, you read it right, theses two axxholes (below) want a mere.... $12 million for 2011.
            Photo Courtesy of LATimes
12 Executives at the 2 firms received roughly $35.4 Million in salary and bonuses in 2009 & 2010. Fannie CEO - Michael J Williams reaped $9.3 Million in 2009 and 2010
Freddie CEO - Edward Halderman Jr. was paid $7.8 million in 2009 and 2010. Apparently that type of income was not enough, and all this "came to light" and was further exposed when Fannie & Freddie asked US taxpayers to ante up another $13.8 BILLION to cover losses for their 3rd quarter (July 2011-Sept 2011) mismanagement. These two companies, owned by you and me, continue to act as "mortgage garbage cans" for the large banks. The Too Big To Fail (TBTF) banks repeatedly sell their bad and non-performing loans to Fannie & Freddie in order to clean-up their balance sheets and "Dump the Debt" onto the backs of hardworking Americans. To date - U.S. Taxpayers were forced gave about $169 BILLION Dollars to rescue Fannie and Freddie. They have easily been the most expensive bailouts of the 2008 financial crisis and keep hemorrhaging massive amounts of money. The government "cost estimates" to maintain these two trash barrels, along with the high-priced executive payrolls, could reach $220 billion ...and that guesstimate is to support them...only through year 2014!

Even more amazing - watching these "tone deaf" executives attempt to JUSTIFY - under oath - their insane compensation. (C-span testimony below) It is truly - Sickening to watch
Listen to U.S. Representative Elijah Cummings (MD) at 34:15 point
Listen to OHIO Representative Dennis Kucinich beginning at the 50:01 point
WARNING: Watching may cause nausea and vomiting....or temporary turrets syndrome.

Regardless of the outcome, of the congressional review, be looking for the 2011 bogus PR announcements from Fannie & Freddie along with other carefully crafted statements from all the Big Banks gifting Holiday Goodwill. 

Below is an Actual Statement Released by Fannie Mae President & CEO Michael J. Williams on December 17, 2009 when announcing that evictions would be suspended for a 14 day period (Sat Dec 19, 2009-Sun Jan 3, 2010) of which 8 days were either a holiday or weekend.

"No family should have to face the prospect of being evicted during the Holiday Season"

Williams efforts to make a short eviction reprieve appear as "A Gift" is really an effort to disguise and deceive. In fact, the Holidays are simply an untimely delay to execution of the eviction process, which is usually dumped on local law enforcement. They (police) don’t want to be the “bad guys” or to be seen as throwing families "out on the street" during the Holidays. These bogus announcements, as Holiday eviction delays, are simply giant orchestrated PR moves "spoon-fed" to the media COVERING UP the on-going FRAUDclosures & Evictions that happen 3,000 times every single day. Well...except ...you know... not during the soon to be announced... Holiday Eviction Delay

And stay tuned....as we will be posting these ridiculous PR statements... as they're released by the two government wards (Fannie & Freddie) and the various other criminal enterprises banks and lenders.

OccupyWallStreet leaders had seen enough and released information for a Day of Action

D-Day is coming...Occupy our Homes

DECEMBER 6th - National Day of Action

OCCUPY OUR HOMES 

The OccupyWallStreet movement and brave homeowners around the country are coming together to say, "Enough is enough." We, the 99%, are standing up to Wall Street banks and demanding they negotiate with homeowners instead of fraudulently foreclosing on them.
 
Everyone deserves to have a roof over their head and a place to call home. Millions of Americans have worked hard for years for the opportunity to own their own home; for others, it remains a distant goal. For all of us, having a decent place to live for ourselves and our families is the most fundamental part of the American dream, a source of security and pride.

In 2008, we discovered bankers and speculators had been gambling with our most valuable asset, our homes--betting against us and destroying trillions of dollars of our wealth. Now, because of the foreclosure crisis Wall Street banks created with their lies and greed, millions of Americans have lost their homes, and one in four homeowners are currently underwater on their mortgage.

Not only do we have thousands of people without homes, we have thousands of homes without people. Boarded-up houses are sitting empty--increasing crime, lowering the value of other homes in the neighborhood, erasing the wealth that lifts families into the middle class. For more information:

National Website: http://occupyourhomes.org/
On Twitter: @OccupyOurHomes
Facebook page: http://www.facebook.com/events/304693926222145/
In Ohio our contact email: ohiofraudclosure@gmail.com

A growing number of homeowners & supporters are standing up to the banks & demanding that the banks correct the mortgage principal to fair market value. 

 I will:

Resist attempts by the FRAUDsters (banks & servicers) to "steal" our homes. 

Take necessary action(s) to Support American Homeowners. 

• If they attempt to foreclose, I will not go

• If they attempt to evict, I will not go

• If they attempt to "Steal" my neighbors home, I will stand with my neighbor in solidarity

I will:

- sign petitions

- make phone calls

- contact caring - local and national organizations

- join efforts of local and national organizations that help with foreclosure defense & to help stop evictions

- help spread the word

TAKE THE PLEDGE: IN DEFENSE of AMERICAN HOMEOWNERS: (CLICK HERE)


OCCUPY Minneapolis formed a human chain around Sa'ra Kaiser's foreclosed home, preventing the officers from boarding it up, and ultimately forcing the police - who had no legitimate legal pretense for preventing occupiers from being their in the first place - to give up. US BANK wanted to evict another homeowner and blight another house and neighborhood.

Breaking News - Foreclosure Crisis Solved

OK - I admit - the headline is a stretch .....but at least I have your attention. Look everyone... we've been in this FRAUDclosure Mess for about 4 years now and sadly nothing has changed! We've tried to expose the outrageous and illegal behavior exhibited by the all the "banksters." We've tried to show the Asleep-At-The-Wheel government entities..... from the White House.....to the courthouse...to the outhouse!! Yet - Nothing changes.

Today, I decided the best course of action is to let a couple "Einsteins" tackle the subject. These two outstanding writers Martin Andelman & Abigail Field have uncovered the "dirty little secret" about this whole foreclosure mess and ....IT WAS NOT CAUSED BY............IRRESPONSIBLE BORROWERS !!!



IRRESPONSIBLE BORROWERS

The IRRESPONSIBLE BORROWER is a "stereotype" being reinforced by those who benefit by blaming the borrowers. In other words - IRRESPONSIBLE BORROWERS did NOT cause the foreclosure problem! As Martin explains....describing Homeowners in foreclosure (i.e. delinquent borrowers) as "IRRESPONSIBLE BORROWERS" is just "labelling." This is NOT accidental, but instead.... a coordinated and highly sophisticated communications initiative being implemented by motivated experts.

Over the past year, and especially in the last couple days I've spoken to Martin. (Yes !! he was working on a solution and talking by phone - even on a SUNDAY!).     And to be honest....I've never heard him so upset. But, his emotions were contained and overridden with his equally passionate efforts  - to get the truth out !! We discussed the possibility of attempting to get all the major bloggers - as a group - to get the message out - together - jointly. Well... read the part of his post (below) that address that component:

.....Bloggers:  We don’t compete with each other, Abigail and I write articles, we don’t sell advertising, so cross post this article and ask your readers to send it to everyone they know.  And get in touch, because we’re building a list of “thought leaders” and we need your name and contact information on that list.

That way, when we produce an article or research report intended to address the “irresponsible borrower” stereotype, we can email it to you so you know to post it.  We need to get this one message out as far and wide as possible.

.....and to the Attorneys:  ....You have Websites and blogs, but more importantly you have clients you talk to everyday that are a part of this fight.  I know how busy you are, but I need you to spend the extra 10 minutes it takes to not only post this and other articles to come, but to tell your clients about what we’re doing over here… tell them to read it on Mandelman Matters or on your site, or anywhere else.

To that end -  Do not just read this....and then say....WOW...what a great piece of work. Instead Tweet, Link, Facebook, and/or Forward this (by email )to at least 10 people who ARE NOT IN FORECLOSURE. I repeat - forward THIS communication to 10 people...you know.... THAT ARE NOT IN FORECLOSURE. Don't worry, we already have the homeowners' reading, tweeting, and linking - that are suffering ....IN FRAUDclosure.

We need to educate the public.... on the truth .....and we need to do it now!

I have tried, in the past, to use a simple dictionary DEFINITION:

However - TODAY - I ask that you sit back and carefully read - probably the best researched and most complete picture...that explains......how we got here.... and.... what message we need.... to educate....in order to go forward so that history ......DOESN'T repeat itself !!

The TRUTH and great post from MY FRIEND -  Martin Andelman - is linked below & titled:

Our future hinges on just ONE thing…

MERS on Life Support - legal rasping - Death is near

MERS legal department: "DEATH RATTLE" & "RASPING" has begun as
MERS CORP. CEO prepares a "DNR" order (See picture below)
GOVERNMENT entities* said to assist patient (MERS) with dying wish
                              DNR = Do Not Resuscitate

*DELAWARE = Attorney General Beau Biden SUES MERS (see above video)

Read the press release announcing the lawsuit 

Download a MERS Fact Sheet
Read the complaint

What is MERS? **
Who is MERS CORP? **

Mortgage

Eliminator

Rip-off

System     

          of

Corrupt

Officers &

Repugnant

People

OUR WHOLLY OWNED & MONEY MAKING rip-ff SUBSIDIARY

Money

Enrichment &

Reward

System  
**Any similarity of acronym or name(s)... to a real business... is purely coincidental

MERS CORP. CEO signing patient (MERS) -  Do Not Resuscitate order

* Federal Government entities prepare for the disconnection of MERS "life support"
while individual STATES* (below) respect the "DNR" request for NO "heroic efforts"
(Translation: NO FEDERAL money or bail-outs - NO settlement $$$ with state AG's)

County Recorders vs. the MERS Machine

Deed keepers say they’ve lost millions to the mortgage industry

*PENNSYLVANIA:  Montgomery County Recorder of Deeds Nancy Becker
Recorders generally don’t make headlines, but Becker’s public protests did. (See Below). She says she was thrilled when she received a flood of “You go, girl!” e-mails cheering her on. The mini-movement’s main champions are John L. O’Brien, keeper of land records in Salem, Mass., and Jeff L. Thigpen, the register of deeds in Greensboro, N.C. In April they asked Iowa Attorney General Tom Miller, who heads a group that’s negotiating with banks over wrongful foreclosures, to press for reform. When O’Brien’s and Thigpen’s letter to Miller made national news, the men began teaching other recorders how to get what they say they’re due.
Counties in Kentucky, Ohio, Oklahoma, and Texas have filed suit for back fees. In one of the largest cases, Dallas County sued MERS in October, saying the company owes it as much as $100 million. (Read the full Bloomberg Businessweek story HERE)

Montgomery County Recorder of Deeds Nancy Becker is urging registers of deeds across state and the country to withdraw public money from any banks affiliated with the Mortgage Electronic Registry System (MERS), which she claims is undermining the practice of accurate land recording.

"In recent years, mortgages have been assigned and reassigned multiple times, and when a bank or other entity doesn’t properly report these transfers, it makes it very difficult for homeowners to determine who holds their mortgages. It clouds the chain of title, and it’s prohibiting (officials) from recording revenues they should be recording," Becker said.

Since 2004, she estimates the county has lost $15 million in fees from 139,798 mortgages recorded via the MERS system - which fails to reflect assignments

*MICHIGAN = University Law Professor slams MERS in AMICI brief  (Thanks Hamlet)
*NEW YORK = Attorney General subpoenas the MERS bogus spreadsheet registry
*OHIO = A small rural county (Geauga) prosecuting attorney SUES MERS
                  or the CrainsCleveland article also....
                  "MERS has trouble, right there in OHIO, with a capital 'T' "
Great read (above) by national blogger Martin Andelman w/quotes from Marc Dann
....“This case asks court very directly whether the MERS system complies with state law.  If it doesn’t then I’m going to go back and reopen all of the foreclosures alleging that the transfers were invalid,” says Dann without hesitation
*ARKANSAS = Hot Springs County Clerk sues MERS for TAX EVASION 
*FLORIDA = Florida Clerk of Court Sues MERS (HERE)
Oct 31st: Jim Fuller, clerk of Duval County, filed suit against Merscorp Inc. and its wholly owned subsidiary, Mortgage Electronic Registration Systems, Inc., claiming civil conspiracy, unjust enrichment, as well as FRAUDulent and negligent misrepresentation. The suit also seeks a hearing to determine the validity of tracking note transfers on the MERS System and a court injunction to prohibit the use of MERS in Florida.
“MERS has usurped the rights and privileges of the Florida Clerks of Court by establishing, maintaining and inducing lenders to use its private recording system, which unlawfully interferes and competes with the public recording system,” the suit, filed in state circuit court, reads.
*TEXAS = Dallas County District Attorney Craig Watkins SUES MERS
also see MERS bogus robo-signed recorded then rescinded "release of lien"
(11-1)update from friend Housing Doom - Dallas DA expands MERS SUIT to CLASS ACTION!
   El PASO - NEWSChannel 9 - great six minute story/report (VIDEO HERE)
Texas Attorney Richard Roman: "MERS has...single-handedly taken the American dream of home ownership and turned it into a nightmare,”
*MASSACHUSETTS = Recorder (Hero!) John O'Brien Sues MERS for $22 Million
Click here to read the Press Release
On March  7: NBC News Reports: Counties Seek Millions From Mortgage Giant. 
Click here to read the story
On February 23: MERS may owe Commonwealth $200 million. 
Click here to read the Mass Lawyers Weekly article from 2/23/11  
*KENTUCKY - County Clerks v. Mortgage Electronic Registration System(MERS)
* NORTH CAROLINA:  Register seeks 1.3 MILLION from MERS in
"Lost Revenue" from FAILED unrecorded or bogus robo-signed assignment

REGISTER OF DEEDS JEFF THIGPEN REFUSES TO ALLOW MERS CRIME SCENE

*TENNESSEE = vs MERS (SCRIBD DOC)

MERS most famous employee (LPS "Robo-signer") "I'm LINDA GREEN" (All 3 of her!)

WHAT? Are you Serious? Certainly all three Linda's are in Jail......Right? NO ?
Oh-nothing illegal-just some everyday Forgery, Fraud, & Corporate Money Laundering

NYE LAVELLE - Letter (about MERS Fraud) to all 50 Attorney Generals