Commentary on Milwaukee Journal article Ex-leaders of mortgage firm indicted published by Milwaukee Journal Sentinel on 10 06 2013

Ex-leaders of mortgage firm indicted  by Cary Spivak
 
http://search.jsonline.com/Search.aspx?k=mortgage+firm&s.x=0&s.y=0

Commentary on the above Milwaukee Journal article

The active creators of this great financial fraud were,

“Well regarded in the Milwaukee Business community and the mortgage industry.”

Of Jungen, “He had been a director of the Wisconsin Mortgage Bankers Association and was involved in numerous civic groups in Wauwatosa, including the city’s economic development corporation and tax review board.”

What is this hinting at?  Often mortgages are sold in packages.  This man being the head of these industry groups might be evidence that the entire mortgage fraud that almost sunk this country into another great depression was a “prepackaged fraud idea?”  Do you see what I mean?  The scheme was not only used by him but the entire industry?  That’s how it reads to me today as it did back 2007-2009!

And with this many insiders involved we are very lucky to have caught a single one of them!  Those books were cooked good!  Extremely good!  Not only that, who is going to tell when they have just been given a new $500,ooo.oo house they don’t have to pay for!  From a yearend bonus or a portfolio liquidation distribution?

So we need to know who this man had communications with in other areas of the country.  We are well respected when we are networked and create income for others through fraud?

So what we learn from him should indeed be applied in investigation of every company involved in the mortgage fraud!  What you are seeing unfold is conviction evidence of similar mechanism as to how the great depression was created!  Any honest student that went to business school knows when people are attempting to weed them out or eliminate their confidence in what their financial acumen really is!  That is how these criminals walk the earth scott free for so long!

The Mortgage Company “Central States” was launched in 1992.  That is about the exact time I was “dis-locuted”

Another point that this brings up is a further impetus to abandoned buildings on a banks books be torn down!  Why?  So that they cannot be used in schemes to overstate the value of assets and receive loans to be divided up fraudulently!  Also a lot of office buildings have a great deal of vacant space in them.   Some of them are indeed large banks!  Those facades create an element of trust that we see via prima fascia evidence above is not warranted.  We might be better of tearing down quite of few of those too and recycling the steel!  Some form of iron road invention comes to mind, something that will last 200 years and has rust proof technology.

“Many white-collar crimes have a five-year statute of limitations.  Certain crimes in which a financial institution is the victim however, have a 10-year statute of limitations”

That is not enough time to catch well orchestrated and hidden financial fraud by those who were indeed supposed to be at the heart of such fraud.  As this is prima fascia evidence of such abuse there should no longer be any statute of limitations with regard to financial fraud.  Financial fraud that could create another great depression could indeed lead to many deaths from starvation and hunger, therefore no statute of limitations should be permitted!

It appears that the very buildings the banks are in are used as false collateral?

To understand who would perpetrate a crime like this read my last article today titled Alcohol, Schizophrenia and Judah.

Copyright 2013 Thomas Paul Murphy

Originally published on 10 06 2013 at: www.themilwaukeeandwisconsinnews.blogspot.com