Friday, November 19, 2010

Foreclosure Fraud and Washington Oddness

I find myself perplexed by what I have discovered today concerning a bill that has been floating around Congress since last fall.  The extremely baffling realization that the Obama Administration may have actually done something right.  I say that with the utmost of caution.  However, unless I misunderstand the implications, I must hold to my inclination.

House of Representatives Bill H.R. 3808, the full text of which you may find here...

Basically, the bill would make it a requirement for "any Federal or State court to recognize any notarization made by a notary public licensed by a State other than the State where the court is located when such notarization occurs in or affects interstate commerce."

 The proverbial "fly in the ointment" being Section 1.2.B of the bill where it states  
"in the case of an electronic record, the seal information is securely attached to, or logically associated with, the electronic record so as to render the record tamper-resistant."

Before your eyes glaze over, think about the "robo-signers" situation. Essentially there was notarization of thousands of mortgage documents without anyone ever having reviewed the documents.  HR 3808 would essentially legalize that sort of practice and give homeowners one less legal option to fight against the fraud being engaged by big corporate financial institutions.

President Obama actually vetoed the bill as you can read about here...

However, the House recently attempted to override the veto by a 2/3 vote which failed on Nov 17, 2010.  You can see the results here...

What I find to be very odd, is that all but 16 Democrats voted against the bill while all but 5 Republicans voted FOR the bill.  At this point I was struggling to understand why my view would be against the Conservative party.  However, once I noticed that Ron Paul, the very bastion of true conservatism in Washington, was one of the 5 Republicans who voted against the bill, I found solace in my conclusion.

In summary, I grow ever more distrustful of either party in Washington and less hopeful that my freedom is safe while the two party system continues in perpetuity.

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