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Bank Crimes of Humanity: Economic Genocide Of The Lower Classes Rewarded With $2000.00 Per Property Theft Fine

February 12, 2012 4 comments

Let me explain my title. Here is the definition of genocide according to Wikipedia:

Genocide is defined as “the deliberate and systematic destruction, in whole or in part, of an ethnic, racial, religious, or national group”,[1] though what constitutes enough of a “part” to qualify as genocide has been subject to much debate by legal scholars.[2] While a precise definition varies among genocide scholars, a legal definition is found in the 1948 United Nations Convention on the Prevention and Punishment of the Crime of Genocide (CPPCG). Article 2 of this convention defines genocide as “any of the following acts committed with intent to destroy, in whole or in part, a national, ethnical, racial or religious group, as such: killing members of the group; causing serious bodily or mental harm to members of the group; deliberately inflicting on the group conditions of life, calculated to bring about its physical destruction in whole or in part; imposing measures intended to prevent births within the group children of the group to another group.”[3]. It can simply also be known as the intent to destroy a group, in part or in whole. Intent must be proven, otherwise the crime cannot be identified as genocide.

I put the foreclosure economic genocide under the label “national”. It’s a social status, but the middle class and working class has historically been the engine of our country.

Let’s reflect on the numbers. It’s estimated 8 million foreclosures have occurred so far. Not people, individual mortgages. If we estimate at least two people in every dwelling, that number is 16 million humans affected, so far, since 2006. Seven trillion in wealth has been drained from the economy, largely based on the decline of housing prices, since 2006. A conservative analyst at Amherst Securities suggests that 11 million more foreclosures are projected to happen through 2016. Again, let’s say only 2 people are in every home. That would be TWENTY TWO MILLION people added to the SIXTEEN MILLION people affected by foreclosure. Now, if the trend continues, that means in ten years almost FORTY MILLION people will be affected by foreclosure. The 2011 US Census puts our country at roughly 310 million people. Now, let’s forget that 2011 average household size is 2.46 people. In other words, I am rounding down, not up. If we used 2.5 people the numbers would be 20 million already foreclosed on and another 27.5 million through 2016, conservatively. That total would be almost 47.5 million people affected by foreclosure in 10 years out of 310 million.

If those numbers don’t bring to mind the words “economic genocide”, I don’t know what will. Let’s look at the top ten VIOLENT genocides in history.

According to this blog, the numbers affected by the US economic genocide would fit between the Cambodian genocide at number three (1.7 million) and the Russian genocides in slot number two, between 25 million to 60 million. Both of those regimes had far longer time periods to kill those parts of the population the dictators found to be expendable.

You maybe thinking, “Jakes, isn’t it a little bit extreme to compare wholesale brutal killing under the color of law (or law), to a couple dozen dead beats?”

At first, I thought I was being alarmist. I kept the phrase to myself. Over the last six months I have watched judges and financial commentators marginalize the homeowner fighting to stay in their homes WHILE MAKING PAYMENTS! I have seen time, and time again a judge ask a pro se, or a consumer defense attorney “Did you get the money? Did you miss a payment?” and that is the basis for millions of foreclosures. Not, “Did you try and work out an arrangement with the bank? Did the bank still foreclose on your home? Did the bank fulfill their side of the agreement? Do we have the right party bringing a foreclosure action? Did the bank servicer follow the agreements it made with it’s employer?  Did the bank follow the law?”

No, those questions apparently, are unimportant. So the new rule is “Miss a payment, lose your home. Now.” I don’t recall getting that memo. Oh, wait a second, I did. It was hanging on my door last February 2009. The eviction notice. I was paying my mortgage, and US Bank, or Citigroup, or Fein Suck and Kahn wanted my home.

Constitution? What Constitution? Our Constitution? That’s not important here. What’s important is systemically dangerous financial institutions. We need them, and they need us…well, they need our homes, and frankly, we don’t need them. We have plenty of banking power without Goldman Sucks throwing another country under the bus. Let them go back to being private, they made far better decisions when it was their frickin’ money at risk.

I now must comment on a man that has been on my mind, the “F” word comes to mind, A LOT, but, not in a good way. That said, I do hold him at the bottom of my heart. Mr. Dick Bove. Banking analyst and the moral compass of Wall Street (oxymoron?),  was interviewed this passed week. He should give up wearing a staid banking suit. He should consider a cheerier color scheme that comes replete with a pleated mini skirt, pom-poms, a twirling baton, and matching streamers. Mr. Bove is still cheering from the sidelines the bank rallying cry “Deadbeat homeowners are the real cause of all economic woes! Get them out of their homes NOW, NOW, NOW!!! YEAHHHH!!!! HAY! HO! OUT THE DOOR YOU MUST GO!”

He said, “These people were not making payments.” Does he know that for sure? Let’s give him the benefit of the doubt, people missed some mortgage payments. Then no home for you? Period, end of story, get out of your home, and get out now!? His unenlightened self interest (coined by Yves Smith) has everything to do with his rallying cry. I’m betting Mr. Bove has a fetish like love for the Jimmy Stewart classic “It’s A Wonderful Life”.

The banks have admitted they made mistakes. The government is ‘punishing’ five banks, with a $2,000.00 fine per illegal land theft.  Mr. Bove, sees that as ‘rewarding’ deadbeats for missing payments and losing their homes. Let me tell you something Mr. Bove, the government just made land theft a crime on par with a drunk and disorderly misdemeanor! If you think that will benefit you in the future, think again. You think your beloved banks are going to stop at 47.5 million people affected by foreclosure, or do you think they will press on, pay the chump change $2,000. and work their way up the ‘food chain’? You think they will stop the economic genocide, just before they get your home? I think you are a fool to think so. And any one else like you (Rick Santelli, Mitt Romney).

Maybe I’m wrong, maybe we can shove 47.5 million out of their homes. Greece is handling the crisis well. The police are striking for the next couple of days. Who knows, maybe a Fourth Estate New Millennium will work out more betteror than it did for Loius Vuitton and his babe Marie?

Read more about Dick.

“Apres Moi Le Deluge” Dick “Madame Pompador” Bove

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