FORECLOSUREGATE…WHO WHAT WHEN WHERE WHY HOW?

Via Foreclosureblues.

There’s an old-school journalism standard – it’s called the “Five Ws”:

  • Who?
  • What?
  • Where?
  • When?
  • Why?

We know the answers to five of the six “W”s on Foreclosuregate:

  • Who: Major financial institutions, including all of the “big banks” and investment banks, both in the United States and overseas.
  • What: First, they failed to perfect their security interests as required by law, and they included bad loans in securitization pools on purpose, both of which are violations of either fiduciary duty, old-fashion fraud, or both.  Now they’re filing bad paperwork with courts across the land, constituting perjury, fraud upon the courts, counterfeiting and more.
  • Where: Everywhere.  There are now 40 State Attorneys General that are looking into coordinated action on the second part of this scandal, as it is resulting in people being evicted from their homes under questionable pretense.
  • When: The first part took place from 2003 to 2008, roughly.  The second is happening now.
  • WHY: The question nobody is asking – or answering.

I’ll take this one, because it’s simple, it’s obvious, and it’s documented. …

Read on to find the answer.