The scandal of the Mortgage Electronic Registration Systems (MERS) broadens into other courts, as more and more judges agree with the "produce the contract" push against home foreclosures. This issue was mentioned on last night's Radio Free Kansas during my conversation with Dave Lindorff, after Ks. Rep. Bill Otto [R-9th Dist.] was on.
Rep. Otto's candid remarks on RFK about gathering state legislator's suppor
t against loan sharks preying on poor peoples' car titles was very interesting. He also had some pretty sharp remarks about bi-partisan corruption and influence peddling through campaign contributions in Topeka, Ks. Is a progressive form of populism for the people on the bottom rising, as happened before in early Kansas history? One of the Kansas Peoples' Party governors came from the very town Rep. Bill Otto hails from!Who will help the Banksters push back against us?
The welcome news this morning that multi-millionaire banksters on the taxpayers' dole are going to have their salaries and bonus packages cut and policed by feds is leading on many news outlets this morning. Readers might be wary of how the foxes guarding these hen houses will push back. Would they make another financial crisis in the casino on Wall Street?
Some think so, and they might have already circled the White House to ambush President Obama, watch the latest PBS Frontline documentary "The Warning" on-line and decide for yourself.
Beware the millionaire big shot "Libertarians" telling you to worship anything to do with the "free market." Their "free market" might be designed to turn your children into minimum wage-slaves for their global corporations.
Pam Martens writes from Counterpunch "The Next Financial Crisis Hits Wall Street, as Judges Start Nixing Foreclosures " :
I’m trying to imagine how the American taxpayer is going to be asked to put more money into Citigroup as it continues to bleed into infinity.
Citigroup is far from alone in financial hits that will be coming from the Qualifying Special Purpose Entities. Regulators are receiving letters from Citigroup and other Wall Street firms pressing hard to rethink when this change 
will take effect.
She is writing that other courts are ruling in similar fashion and that it is producing a "second round of financial tremors."
Should have listened to the little red rooster?
Of course, one our regular contributors, Ellen Brown, sent word of this development to the Flyer back in Sept. 19, as a Kansas judge ruled in what she wrote:
A landmark ruling in a recent Kansas Supreme Court case may have given millions of distressed homeowners the legal wedge they need to avoid foreclosure. In Landmark National Bank v. Kesler, 2009 Kan. LEXIS 834, the Kansas Supreme Court held that a nominee company called MERS has no right or standing to bring an action for foreclosure. MERS is an acronym for Mortgage Electronic Registration Systems, a private company that registers mortgages electronically and tracks changes in ownership. The significance of the holding is that if MERS has no standing to foreclose, then nobody has standing to foreclose – on 60 million mortgages. That is the number of American mortgages currently reported to be held by MERS. Over half of all new U.S. residential mortgage loans are registered with MERS and recorded in its name. Holdings of the Kansas Supreme Court are not binding on the rest of the country, but they are dicta of which other courts take note; and the reasoning behind the decision is sound. She writes from California and thinks state governments should make their own "publicly owned banks." Read about the big Kansas court decision and more here.
Now if all Kansans would wise up to the big shot politicians' latest horrible bribe-scam, and stop the germ warfare research monster from being built at Manhattan, Ks. -- talk about a really sick worm in the "Little Apple."
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