Katherine Ann Porter, Author of 2007 Study Revealing the Destruction of Notes, Is Running for Congress

Ms. Porter was the first person who broke through the ruse of securitization and confirmed what I thought, in 2007, leading to the creation of this blog. As a Professor at the University of Iowa she conducted a study that revealed that, at a minimum, 40% of all executed notes were destroyed shortly after the “closing” of a home loan. Negotiable notes are the equivalent of cash. I was left with the question “why would anyone shred money?”

Now in California, this former protege of Elizabeth Warren is running for Congress. I think she deserves all the support she can get. She is one of the few people running for public office who understands the mortgage meltdown and who will keep fire to the feet of fellow legislators as the country continues to sort out fraudulent loans, fraudulent “meltdowns,” and fraudulent foreclosures.

Ten years ago, when I was a lone voice in the wilderness, she was there to help. Now it is our turn to support her candidacy. Her election to the House of Representatives will benefit all Americans — not just those in her district.

The Intercept (by David Dayen): An enemy of the Wall Street foreclosure machine is foreclosure machine is running to unseat a GOP lawmaker in California

New York Times (by Gretchen Morgensen):  http://www.nytimes.com/2007/11/06/business/06mortgage.html?mcubz=1

Original study: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1027961

Washington Post: Emily’s List backs Elizabeth Warren acolyte in California congressional race

SacBee: Elizabeth Warren protégé runs for Congress in Orange County: ‘Katie is a fighter!’

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