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This is James Corbett of CorbettReport.com
And this is James Evan Pilato of MediaMonarchy.com
coming to you from Portland, Oregon and
we both send you a huge hearty welcome
to the fiftieth episode of New World Next Week.
We've now been doing this for just about a year
the growth of the show and I think
the way things have worked, James, it has really worked out well. I think we have been
a good balance of each other.
we also have NewWorldNextWeek.com
where you can get high quality
downloads of these episodes you can share and burn and they look fantastic.
However, there's a lot of
what we basically called "Scary *** News"
for this fiftieth episode
I'll mention that it's still the thirteenth here in the states. James it's already the fourteenth
there in Japan
but so far I've not seen any massive alien attacks that all the chatter and rumor mills
have been abuzz about.
But what we're going to get you here is a far more probable, imminent events
and we're going to start off with an article simply called ForeclosureGate
coming from the fantastic BlackListedNews.com and cross posted
on theeconomiccollapseblog.com. Michael Schneider
gets into ForeclosureGate about to explode.
It's been alleged that many prominent mortgage lenders have been using materially flawed paperwork
to evict homeowners.
Apparently officials at quite a few of these firms have been signing thousands upon thousands
of foreclosure documents without even looking at them.
In addition it is being alleged that much of the documentation for these mortgages that
are being foreclosed upon is either
improper or is actually missing.
As lawyers start to smell blood in the water, lawsuits challenging these foreclosures
have already started springing up from coast to coast.
In fact, some are already calling ForeclosureGate the biggest fraud in the history of the
capital markets.
JPMorgan Chase, ally banks GMAC Mortgage and
PNC Financial, have all suspended foreclosure
in the 23 US states where foreclosures must be approved by a judge.
Bank of America, B of A -- B very of "a" --
has actually suspended foreclosures in all fifty states. Now law enforcement authorities
from coast to coast are calling for investigations into this controversy
and it could be years before this thing gets unraveled
and it gets worse with each passing day and there are a lot of links contained in this
article that we, again, implore you and we
provide you with the links to go
reading these articles for yourself and source these things out for yourself.
We want to make mention of just two examples of what is bringing ForeclosureGate to light now:
One, GMAC mortgage official admitted during a December 2009 deposition
that his team of 13 people signed approximately
ten thousand foreclosure documents a month
without reading them.
One Bank of America employees confessed during a Massachusetts bankruptcy case
that she signed up to 18,000 foreclosure documents a month and typically did not look at them
because of the volume. James?
Corbett: This is insane and I think we've only just begun to to see the tip of the iceberg
of this ForeclosureGate and I think people are just beginning to understand all
the ramifications of what's going on here
but.. I just... My mind boggles at this. I mean, just two years after
the meltdown on Wall Street and the bailout scam which has stolen 23-plus trillion
dollars out of US taxpayers' pockets, you thought that Wall Street couldn't get any
more bald-faced in their
scamming and scheming and lying and manipulation and fraud in order to
squeeze another few cents of the public and that that's where they're not even reading
the foreclosure documents.
People are being foreclosed on that don't even have a morgage and bank agents are breaking
into people's houses as you might have seen on my last Sunday Update. It's getting insane.
I don't know. There's got to be a breaking point at some point.
I don't know when it's coming but it's not going to be pretty. This isn't good for anyone.
This is not good news even if there is a foreclosure moratorium,
it's still going to wreak havoc. There are some mortgages that
they can't even sort out the paperwork now because there are so many different derivatives
and swaps and trades going on behind the scenes, they don't even know who is the
title owner any any more. It's going to take years to sort this mess out.
It's not pretty for anyone and it's really scary.
Pilato: It really is and it does seem to feel... Maybe I take this on more because
I spend too much time looking at all this stuff, but there does seem to feel a general tension
level that's rising
as we reach elections. Every day, it's unbelievable things.
So [Corbett], we'll quickly move into our second story which is actually
a group of stories that I posted on mediamonarchy.com
under the headline and post title
"EconoCrash: welfare, debtors' prisons & dying communities"
and we'll start it with the piece from USA today,
hat-tip to the fantastic cryptogon.com
who puts the fantastic almost horror movie title to it
"Wal-Mart swells with poor people once a month at midnight,
when the government's electronic dole payout goes through.
Once a month, just after midnight, the beeping checkout scanners at a Wal-Mart
just off Interstate 95 come alive
in a chorus of financial desperation
here and a grocery stores across the country the chimes come just after food stamps and
other monthly government benefits drop into the accounts
of shoppers who have been rationing things like milk, ground beef and toilet paper and can finally
stock up again.
Shoppers mill around the store after 11 PM,
killing time until their accounts are replenished.
When midnight strikes,
they rush for the checkout counter.
I'm almost speechless in that. It kind of brings to mind that there's
that horrible "People of Wal-Mart" web site and these things that are sort of made fun of,
but are becoming more and more manifest
and real in all our faces.
Some of the other things posted along this that again, are all inextricably linked
We get one from allgov.com - "Debtors' prisons make a comeback in the US"
Both the Brennan Center for Justice and the ACLU have issued reports on the rise of debt
related incarceration
noting that courts are administering more fees
these days as a way to make up for budget shortfalls
and another one from the Associated Press - "Dying communities see salvation in new prisons"
we also have
a little bit of an update again from USA Today: "Tight budgets lead to more civilians used
for policing." James?
Corbett: if I recall correctly, the last episode of Media Monarchy mentioned that the government
is going to start
making it so you can't buy sugary drinks with your food ration credits.
Pilato: New York is talking about moving on that.
Corbett: As we see, the economic collapse is proceeding apace. We see now it's
been engineered by by the banks turned to benefit from it and now the social engineers
can come along and
tell people what they can and can't do with their food rations and it becomes
a completely controlled society. You're right, the people who are making fun of the Wal-Mart
people, you have to know that
what goes around comes around. It's not a good thing to have a growing number
of desperately poor people in society and anyone who doesn't understand that really
needs to get their head examined.
Pilato: We can even get slightly esoteric with it and overlay
"As above, so below"
The same sort of recklessness from our mis-leaders and elites that have gotten us
to this situation,
now we're going to have masses of people replicating that because we're all told,
"What difference does it make? It's all falling apart anyway. I may as well get mine."
Corbett: Yeah, the feces trickles down from the top and we're just the emulating what
we see happening up there. I see that.
Pilato: So, it feels like even for me the that tension level ratchets up
because it's ridiculous.
This is the way will go out as this
comedy of errors ratchets up to-- Again, you almost have to
kind of laugh to not cry and lose your head
over all of this
because ultimately, that's the thing. It's the war on consciousness
that all of this is about.
We're just reporting and telling folks about
the developments as it goes, hoping to lead to
something.
Something better than this.
When I saw this headline,
it immediately grabbed my attention.
However when I figured out it was talking about
the very county I live in
I of course perked up and paid attention. From Raw Story, Steven Webster writing,
"It's crunch time for many municipalities across the United States, but for one county in Oregon
that means a little more than in most.
The district attorney in Multnomah County,
the state's most populous area with over seven hundred and ten thousand residents,
announced recently that it can no longer prosecute dozens of crimes thanks to a shrinking budget.
Caught with small amounts of ***, coke or ***?
It's a ticket.
So is a hit-and-run accident.
Small time shoplifting? You'll get arrested. It's still just a violation.
For these and other lesser crimes the district attorney will simply refuse to prosecute.
Still, police have been directed to continue operating as normal,
making arrests as they see fit and it'll be up to the county's attorneys to decide what
gets prosecuted.
In spite of the relaxed penalties for numerous crimes, chances are the drunk driver who recently
rear-ended the county sheriff
in a drunk driving incident will see the business end of the judge's gavel.
But it might take a while."
Schrunk, who is the DA here,
his staff was recently cut by 27 percent, according to a statement provided
again local media here, katu.com,
"In a perfect world you'd commit a crime, you'd be prosecuted for what it is," district attorney
Mike Schrunk told The Oregonian.
"We don't have unlimited funds."
Other crimes which the county will adjust to violation level include
trespassing on noncommercial property,
theft or forgery in the second-degree, harassment, interfering with a police officer,
interfering with public transportation,
(Which, I fear,
is going to become far more popular here in a city that has formerly had great public
transportation.)
Resisting arrest, non-injury,
and criminal mischief in the second degree. All of this is available with a PDF link.
In spite of this whole
budgetary rue, Multnomah County is one of the few in the nation piloting a program
that affixes GPS tracking bracelets to youths convicted of gang-related crimes,
a practice widely criticized by civil rights groups.
This is where I live, James.
Corbett: Well, good luck with that.
It's crazy isn't it. This is what an economic collapse looks like and unfortunately
we're going to be seeing more of this and we've already seen this in various counties where
the sheriff is basically said get a gun, because I can't protect you.
Pilato: But there're not going to say that in Obama Town,
here in LiberalVille.
Corbett: There you go you. A gun! Oh my God, no.
Unfortunately this is an economic collapse, it is happening
right in front of our face and it's not pleasant for anyone and these are some
some pretty
interesting times as the old proverb goes. I don't know what to say other than good luck.
Pilato: The last thing I'd say is
possession of drugs that's one thing.
Some of those things that are in there --
Shoplifting, breaking and entering, noncommercial
That's the thing there. Now if you start to break into
our corporate enclaves will then of course we're going to throw you in jail
but if you guys are just robbing from each other,
carry on.
Corbett: Let the cattle fight amongst each other. Exactly.
This just goes to show that people have to
start building those communities and getting off the grid that has oppressed us
because that's when the is no longer taking care of you in any way or even pretending
to take care of you
so building self-reliant communities -- it's so important and that's what we've
been talking about for a long time that's growing importance with each passing day
Pilato: Absolutely.
James, as we close this fiftieth episode, we didn't talk about this but I just want
to throw out here at the end,
how totally proud and stoked I am to
be hooked up with you to work on this show
and to be able to go through these things in a great kind of dialogue away again
it's opened up to everybody else out there to love or hate or share a comment
and just get this information and get the discussions going to people.
It's been nothing but a privilege and a pleasure and I appreciate it.
Corbett: And I'm sure we have many more to come.
All of that right back at you. People, stay tuned, we have many more episodes to come
and we will be documenting
the economic crash and everything else that's taking place, one episode at a time.