Foreclosure Hamlet

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Credit Default Swaps: The Insane Problem and the Radical but Sane Solution

Posted By DEADLY CLEAR on October 30, 2011

With nearly 4 solid years of foreclosure injustice spewing from the courts and millions of homeowners continuously getting skunked, it has become a necessity to figure some way to explain to even the brightest (judge) on the bench the answer to, “[D]id you pay?” 

It doesn’t matter what state (although some are a lot worse than others) or what faction of the judiciary, state, federal, bankruptcy, appellate – the question they always ask, “[D]id you pay?”  We’ve all heard the standard answers:

  • “I don’t know who to pay…”
  • “I owe someone, but it’s not these guys…”
  • “I lost my job, but I can pay now and they won’t take my money…”
  • “All I need is a little reduction in my monthly payment…”

The list goes on – but the real answer if there is a trust involved might be, “Well, your honor, I don’t think I’m in default.” And of course the judge is going to say, “why is that – did you pay?” And the likely response might be, “your honor, there’s these things called Credit Default Swaps and my note is Continue reading on DEADLY CLEAR→

Views: 81

Tags: $62, AIG, Bailout, Chuck, Credit, Default, Foreclosure, Fraud, Hank, Mortgage, More…Paulson, Simpson, Swaps, Trillion, Wall Street, cds, man, straw

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