Monday, December 5, 2011

Half of the publicly traded corporations are registered in the state of Delaware. Also, our vice president’s son is the Attorney General in that state, yes a new promotion for him. Is this insider politics as usual? It is a good job for him because you know the corporations will be treating him well. After all, corporate America doesn’t want to ever be prosecuted for anything. Papa Biden has been in the old boy’s club for many years. Make room for his son Beau Biden.
Beau Biden is an Iraq War Veteran and recently became the Attorney General for the State of Delaware and the son of our present Vice-President. He is trying to also be a here by being the face of the Wall Street Protestors. He plans on suing the banks of Wall Street. Beau is not the only one filing lawsuits. Catherine Mastow of Nevada is suing, Eric Schneiderman in New York and others are beginning to look further into the banking processes.
Beau Biden calls himself a prosecutor and a consumer protector. He recently filed against a small company called Mers. It is a Delaware corporation that only has 50 employees. What is in a Delaware corporation anyway? It is obviously one of the loopholes in our system that half of the publicly traded corporations that have operations in America have their mailing address in Delaware are registered in Delaware even though there is nobody in the office but a fax machine. Look at your mail from any stock or credit card company you own. Chances are that they are based in Delaware. Yes, our paper corporations. America manufactures practically nothing.
Beau Biden says that the reason that corporations are in Delaware are because he has the best courts in the country in terms of dealing with complicated business matters. Bull crap, they are probably lining his pockets with cash right now. He filed the complaint against a 50 person company in the Chancery Court which he considers to be the finest court in the nation.
He is alleging that Mers was created by the banks and Fannie and Freddy. In 1995, they privatized our mortgage residential recording system. They are making people who are desperately trying to keep their homes crazy. Trying to get the payments down to reasonable levels based on the poor economy, our paycheck have decreased. Lower our payments! The Mortgage foreclosure so called help doesn’t help anyone. It is a constant shuffling of papers where banks require more proof of income Papers get lost and constant delays solve nothing for all. Why?
Why Mers? He is the Attorney general of Delaware. Merse is a tiny corporation based in Delaware. It has 50 employees that are in charge of keeping track of 30 Million mortgages in America. This is why we have a foreclosure crisis! The banks sold the mortgages to other banks who sold it to other banks without the homeowners notice. They were simply told make your payments to this new bank. Meanwhile each bank has a different terms and conditions to abide by. Yes that damn fine print.
The privatizing of your mortgage failed because those 50 people cannot possibly manage that work load of mortgages. Yes greed and inefficiency prevailed before any type of common sense. Everyone literally lost track of who owns what. His investigation found that 1 out of 4 foreclosures are foreclosing for the bank that doesn’t even own the mortgage anymore. It is so bad that the banks themselves don’t even know who holds the mortgage anymore they are just grabbing for your investment for quick cash.
He calls it a straight up deceptive trade practice and a violation of Delaware Law. Good luck new Biden to try to straighten out this mess. It is probably just an attempt to help his own political career for even trying with a lawsuit. Besides, why does Delaware have anyone in it? The population of Delaware doesn’t even have a million people in it. New York sneezes out that many people just on the weekends.
It is obvious Delaware has become a corporate haven because it is small and taxes are low. Beau Biden’s attempt to clean up anything is futile because the mess is too big. He should just be happy that daddy got him a great safe job and enjoy the ride.

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