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RED Herring: VOID, VOIDABLE — What difference does it make?

Livinglies's Weblog

Just a short note this Holiday extended weekend.

The banks have raised the whole issue of void or voidable based upon the potential for ratification. That is a red herring. The fact that something COULD happen does not mean it DID happen. What is even worse is when a court decides based upon the absurd notion that the act could have been ratified already despite the nonexistence of any evidence or even a claim that such ratification occurred.

So when Trust XYZ makes a claim then homeowner files the defenses or a lawsuit stating, for example, that the cut-off period has expired and the allegations or evidence shows that the paper documents all show the same thing — an effort to transfer the loan after the cutoff date.

So in plain English, the Trust is saying we own the loan and the Homeowner is saying you don’t own the loan…

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Spanish bank Banco Popular has collapsed

Editor’s Note: The collapse of Spanish megabank Banco Popular happened this month after government and regulators assured investors it had passed a stress test with the European Banking Authority. The failed bank was taken over by Santander, another megabank, but the shareholders lost everything as did the suppliers of contingent capital in the coco bonds. […]

via Too Big to Fail, Not too soon to Tell — Livinglies’s Weblog

This article is just more proof that you cannot trust any big bank, or any supposed government banking regulators. Nothing will change until they start jailing the top executives of the big banks after they have had to do the “perp walk” on live nationwide television.

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