Blackrock and Maiden Lane Entities in Trouble?

Editor’s Note: TELL THE TRUTH! And thanks for this submission. That message is directed to government, banks and big business. Avoiding it is getting us deeper and deeper in the hole. Confronting it and doing what is RIGHT will restore equilibrium to our economy. These entities are riddled with toxic waste, non-existent mortgages, non-existence loans and non-existent receivables. The reason Obama crashed and burned last week at G-20 and Korea is precisely because he lacked credibility. For in his own country under his administration, we keep side-stepping the truth. AND the really stupid thing about it, is that everyone knows already. Why do we insult them by continuing to pretend we can get over this mess without taking bold steps?

Lucy

Thanks for the great post!!!

By the way, heard Friday that Bank of America – which has huge investment in and affiliation with Blackrock – wants to pull out. Congress questioned Bank of America about Blackrock during TARP hearings. Nothing came of it.

For those that are interested – check out 2007 article about Third Point hedge fund – distressed debt buyers – and subprime mortgages
http://tickerforum.org/akcs-www?post=106659

Many many many more like this – including Blackrock. – manager for US Government’s Maiden Lane
See 2008 article on Blackrock

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOmly3NUtYh4

Point is this – these distressed debt hedge funds (debt buyers) have proprietary relationships with hedge fund and distressed debt buyers. This was also an issue during TARP hearing. Nothing came of it.

The SPVs only questionably held securities because they were not properly conveyed. The trust DID NOT hold derivatives – derivatives are not securities and are only contracts derived from securities. Therefore, the derivative holders have their issue with the security underwriters that manufactured the derived contracts – – and the trustee to trust cannot foreclose on behalf of unnamed derivative contract holders – that are not part of the trust.

This is a high court issue – and nearly every court across America has prevented path to highest court – by either denying discovery, summary judgment, or toss out on technicalities.

This is why the assignments/endorsements/affidavits are all bogus – they are manufactured. But, equally important – the derivative contracts are never disclosed as part of the chain. The derivative contract holders ACCOUNT for foreclosure proceeds – not income pass-through security holders.

Every foreclosure case should be tossed out of court with restitution provided for those cases that have already proceeded.

Posted in bubble, Corruption, Eviction, securities fraud |