How the Private Banking System Pushes for Foreclosures as Part of the Debt Cycle

Executive Summary

• Foreclosure fraud was legitimized when Steve Munichen was made Treasury Secretary.

Introduction

During the 2008 subprime mortgage crisis, private banks took advantage of foreclosures and many banks produced fraudulent documentation that would allow them to foreclosure on houses that were not delinquent. Private banks have created foreclosure mills that specialize in foreclosing and creating false assertions about the right to foreclose. This is explained by Alan Grayson in the following video.

Companies that engage in foreclosure fraud are not prosecuted. And one of the people involved in foreclosure fraud was Steve Munichen, who after engaging in foreclosure fraud became the Secretary of the Department of the Treasury.