Quotes of the day
"They promised us transparency and they kept their promise. We can see right through them!" ~ Carole Bending

"The great enemy of clear language is insincerity. When there is a gap between one's real and one's declared aims, one turns as it were instinctively to long words and exhausted idioms, like a cuttlefish spurting out ink." ~ George Orwell

---

Ah! . . . the dream. The American Dream. Sadly it's much more of a fixture in the dream world than the real world and it's getting more so every day.
The original American Dream was a simple dream, a dream for a life in the middle class. It offered the possibility to rise to any height if you worked hard enough but mostly it was a vision of a life where you could have a nice home, enough money to raise a family and a life of leisure in your waning years. I'm sure most of you have noticed the ruling class has had enough of that so they are now wiping out the middle class and the American Dream right before our eyes.

One of the prized goals of the American Dream is owning your own home and your own property.

Our nation gave birth to the largest middle class in the history of the world and as a result we became the most powerful nation on the planet.

Unfortunately the ruling class has a problem with a large middle class. A large strong middle class has power and this is the exclusive domain of the ruling class. So, the ruling class had to do something about it. One thing they did is distort the meaning of the American dream.

The American Dream has become what the ruling class dreams for us. And their dream for us stinks! It has become the description of how the ruling class sees life and their relationship to everyone else. The American dream has become one
where you step on everyone and everything you have to in order to rise to the top of the heap. It's time to remind everyone that this is not the real American dream. The real American dream is a dream of a good life for everyone, a decent job and the ability to live our lives free of other people telling us what we can and can't do. Most of us have no need or desire to "have it all." We just want enough to live a comfortable, simple life.

My American Dream Is Being Threatened

You've probably noticed I'm behind on putting out this newsletter. The reason I'm behind is because, like millions of Americans, I'm fighting a bank that's trying to steal my home.
It has been the most difficult, time consuming and stressful thing I've ever gone through in my entire life!

I haven't been able to do much of anything else because our court system is so complicated that the average person stands zero chance of being able to use it to achieve justice. It requires an enourmous amount of time and effort to even begin to understand how the whole thing works. From my direct personal experience the courts do not like people representing themselves.

They make it very clear they are not going to make it any easier for you. Even though the courts are supposed to account for a citizen's lack of experience and knowledge of court rules and procedures . . . they don't! That's why most people don't even try to fight in court because they simply don't have the time, aptitude or emotional strength to wade into our ruthless, merciless court system. It's clearly been set up to be nothing more than the means for those with the most wealth and power to steal whatever they wish by force. Our court system is nothing but a collection agency for the ruling class.

It's a total crapshoot for the average person to achieve justice in our court system without a lawyer and often still a crapshoot if you have one. It's a fact that judges have very little understanding at all about what really goes on in the mortgage industry if any at all. The diagram to the right shows you what most people, including judges, think about the mortgage transactions that are brought before the court.

The bankers waltz into court and con the court into believing the homes they are foreclosing on involve simple straightforward transactions.

In my case, the original bank I dealt with, IndyMac bank, went bankrupt. The FDIC shut them down and took them over. Eventually the so-called assets of IndyMac were purchased by a new group of Wall Street Insiders (George Soros being one of them) for a great deal (of course) under the name of OneWest bank. I've read that the deal OneWest made with the FDIC was that the FDIC would share in the loses. HA! In other words, OneWest can sell a home for whatever the heck they can get for it and the FDIC will make up the difference. There is absolutely no incentive for this bank to help anyone stay in thier home. None!

So, I read that IndyMac went inder and all of a sudden I get notice that a new bank now owns my loan. The problem is, I've studied the banking system and I knew this was total baloney. So I decided to challenge their claims. I knew that not only did the new bank, OneWest Bank, NOT own my note, IndyMac didn't own it either. I learned that IndyMac most likely sold their interest in my property a long, long time ago. They just failed to tell me anything about all the deals they made, all the money they made off the promissory note to my home.

Check out the next diagram to the right. This is an actual flowchart of all the transactions someone else's home mortgage promissory note has gone though . . . all the banks, trusts, hedge funds, etc. that have had their hands in the pie.

Wall Street invented something called the "secondary mortgage market" in which they take the promissory note for your home and sell it to investors. In other words, soon after you sign your paperwork the bank turns around and sells your promissory note to other people. The bank gets paid in full for your home and remains as a "servicing agent" for the group of investors that bought your note. For a fee, usually a percentage of the monthly payment, (plus any fees they can gouge you with) the bank continues sending you bills. The bank never tells anyone about what is really going on and to all appearances everyone believes the banks are still owed money for all the homes they wrote mortgages for.

Why would they do this? Greed of course. In order for a bank to make more money off your home you have to sell it. How quickly do homes usually turn over? Not very often. So they decided not to wait around for a home to sell. They just "made up" another scam in which they could just sell the note. And they did. Over and over again. I've spoken to several people that have told me their mortgage has changed hands three, four, sometimes five times! The problem is, none of this is really legal. They just decided they get to do this. Just like they get to say they have more money than they actually have through the fractional reserve banking scam I've spoken about in previous issues. They just make up fictional markets and "financial products" and do whatever they want. They created all these bogus nonsense that represent nothing but pure unadulterated FRAUD on every level. Thankfully, like all the frauds that have been perpetrated by these greedy lunatics, it's being exposed.
I'm one of the first working hard to expose it.

To summarize most banks have sold their interest in our property a long time ago. In my case, the bank that's claiming to own my note, OneWest Bank, is presenting themselves to my little county court as if they are the sole owner and lender. Sadly, the judge is inclined to believe them primarily because the judge has no idea about what a mess the bankers have made of the mortgage industry. The banks have deliberately created a nightmare of convoluted transactions so that it's extremely difficult to figure out who actually owns what if anything!

Combine this with the fact that judges don't want to deal with the complexity of anything and you have one of the most difficult challenges imaginable. Judges would rather pretend mortgages are handled like they used to be, just a simple,
straightforward transaction, bang their gavel and let the banks steal people's homes they've already been paid for multiple times already.

One of the ways banks are being paid multiple times for the same home is through fraudulent insurance policies called "credit default swaps". CDO's pay the bank the full value of the home if the homeowner defaults. Remember the government
bailout of AIG? Well, AIG issued those bogus insurance policies and all that public money that went to AIG went right out to all the crooks on Wall Street to pay off the credit default swaps. Now the banks are stepping up to collect yet again on the same homes by posing as the original lender and foreclosing. The fraud that is being committed is as monumental as every other Ponzi scheme Wall Street has cooked up!

Here's a brief explanation of what most likely happened to the promissory note to you home. In the majority of cases the notes were sold into trusts where literally thousands of mortgage notes were "pooled" and sold to investors. These are the infamous "mortgage backed securities." Quite often the notes were sold multiple times, into multiple trusts, usually without even registering any assignment to the new owners that were buying them. An assignment is done when property is sold, the ownership is transferred and assigned to the new owner and then it's supposed to be properly registered at your county clerk. Since the notes are sold to multiple investors involved in the trust, the banks couldn't directly assign ownership to anyone so they did it in "blank." In other words, nobody is clearly assigned any ownership rights.

The original bank I had my mortgage with was IndyMac bank. When they went under I started looking into the mortgage industry. I soon discovered the massive amounts of fraud Wall Street had made of it that I decided to confront and challenge the new bank that was now claiming to own my note. Since I don't have much money, I decided to do it on my own. I bought a course on how the court system works, how to file pleadings, make objections, the whole nine yards. I've written all my own pleadings and went in front a judge twice so far. Guess what I learned after only two times in front of a judge? I had to face the cold hard truth that there's no way in hell I'm going to be able to learn enough about the way the court works and how to handle a judge in just a few months time.

While I have been able to thwart the banks efforts to sell my home so far on my own, I've realized I need an attorney that knows how to handle the courtroom and the judge or I will not be able to thwart them much longer. I cannot go into the courtroom again without an attorney that has the knowledge, skills and backbone to handle a judge. I just don't have the knowledge or skill necessary to make sure the judge doesn't do things he's not supposed to do, which turns out to be most of what they routinely do.

Gee, sound familiar doesn't it? Sounds like what our members of Congress do . . . whatever they want regardless of whether it's legal or not.

I'm going to have to bite the bullet and cough up $160 an hour for a lawyer because our court system makes it totally impossible for us to use it effectively without one. No doubt, by design. If any of you wish to help me battle the bank please contribute to my legal fund so I can fight and beat these lying predators. You can send a donation to Bruce McDonald @ P.O. Box 1086, Crestone CO 81131.
I assure you when I win I will make every detail of what I did and how I did it available to everyone. I will beat these criminals . . . especially with your help!

Stay tuned for the ongoing drama as I take on the liar lender bank, OneWest Bank and trounce them into the dirt as well as the law firm that is actually nothing but a debt collector posing as legal counsel for the bank! I'm going to be filing a federal case against the law firm as well and getting my local district attorney to file charges against the law firm (debt collectors) that have violated multiple counts of the Fair Debt Collection Practices Act. The bank and this law firm are committing fraud. It's happening just as it is with me all over the country. Most every foreclosure going on is criminal fraud!

Bruce McDonald


If you'd like to blog this article, you can find it posted here.