First of all none of this goes to question of whether Stu and the rest you use sock puppets... Who that hell is byteme anyway?
Quote from byteme:
Is it to do with his own failed attempt at creating/understanding the concept of a sock puppet?
http://www.elitetrader.com/vb/showthread.php?s=&postid=2914812#post2914812
Jem lost all credibility when he proceeded to write about Jem in the third person - when it was him doing the writing as "res judicata"
if I recall correctly, it later transpired that the whole reason was because he didn't know how to log in to ET with the same username on a different computer.
Inability to log in to a website speaks volumes.
It was an office "stock puppet" not a sock puppet. I used to have multiple people using the computer which logged in as Jem at work.
So, when I decided to end that practice in my new office I logged out of elitetrader and made a new name. And I outed myself.
To this day, I now only login on my home computer.
In one post even Free Thinker understood it was a joke when I spoke in the third person.... I said JEM told me to write this.
here was a quote in which you can see I was not hiding my jem identity.
here is that post: Where I mention that Michael Pines... called me. He latter got in trouble for telling clients to move back into foreclosed houses.
"This is jem.
I know the lawyer telling people to move back in.
I spoke with him on the phone a few months ago.
My website was one of the very first talking about using a RESPA request to gain leverage with the banks in short sale and loan workout negotiations.
Mr. Pines lectures on the litigation route.
First send the RESPA request asking the bank to prove they have the rights of ownership or servicing. they almost never provide the proof.
After that he likes to sue them.
I prefer to gain a loan workout result.
I suspect these are clients who do not litigate to conclusion, but have proof the banks violated Federal law by not providing a response under RESPA.
Most foreclosures in CA are non judicial. There is a very real problem with a non judicial foreclosure in that property is taken without due process. Due process is exactly what is needed to determine if the banks have standing to take the property. (can they prove to a court they are the owner or the servicer of the loan.)
This is going to take years and years to unwind properly if clients start paying lawyers to jack up these lenders.
If you think the lenders are innocent businessmen you have to learn more about MERS and why it was designed. MERS in itself is pretty close to a criminal fraud.
by the way if the investors in these loans get stuck with losses because MERS proves to be a sham.... the wall street banks and our major banks will be left holding the bag."