4/12/2007

The Casey Serin Project

I was incredibly moved by a posting at ExUrbanNation a couple of days ago. A poster wrote to say that he had called law enforcement to point out Casey Serin's blatent fraud blog.

He was compelled to make this call, he said, because he is a real estate agent. He had recently been working with some clients who worked their asses off and barely qualified for a mortgage. By the time they found a house in their price range, that mortgage was no longer available to them.

In a moment that should give all of us pause, the client looked at the agent and said, "What about that guy in California who bought eight houses with no money down?" Well, what about him, indeed?

Many of us have been speculating that the subprime mortgage 'crisis' will soon be fought in the halls of Congress, where ill-informed legislators will enact regulations akin to Sarbanex-Oxley in the wake of Enron.

The fear is that thousands of mortgage fraudsters like Casey and Galina Serin will fall under this umbrella, granting a form of financial amnesty to willfully fraudulent borrowers, lenders, and brokers.

We've already heard the opening shot from Senators cum Presidential candidates Chris Dodd and Hillary Clinton. Now, Chuck Schumer and Jesse Jackson have joined the mix.

Right now, these folks' have louder voices than those of us who have been watching a different sideshow at the same circus. But they're not hearing from us. They're reading biased articles about "predatory lending" and "Casey Serin as Victim" in nationally-syndicated news outlets.

The time has come for rational voices to enter the debate. With that in mind, I'd like to start "The Casey Serin Project" to highlight the frauds, phonies, and felons that the high-profile mouthpieces don't seem to be hearing about.

We'll be using the power of user-generated media to draw attention to this situation like no glossy ads or television commercials ever could. In other words, thank you, YouTube.

If you would like to participate, please make a 30-second to 2-minute long video and upload it to YouTube. In your video, please address issues such as,

"How mortgage fraudsters like Casey Serin have affected me/my family/my neighborhood."

"Why mortgage fraudsters like Casey Serin need to be held accountable for their actions."

"Why 'small-fry' felons like Casey and Galina Serin need to be prosecuted."

"Why multi-state felons like Casey and Galina Serin do need to be held accountable for 'every dirty penny.'"

"Why a 'subprime mortgage bailout' is a bad idea."


Take a video of yourself, or, if you don't want to show your face, maybe you want to narrate your video as you drive or walk your neighborhood. The possibilities are endless.

The videos will be compiled and forwarded to members of Congress, particularly those in districts where Casey and Galina Serin had properties, and those who like to hold press conferences about subprime mortgage bailouts. The videos will also be forwarded to District Attorneys in the cities and counties where Casey and Galina Serin briefly owned their foreclosed properties.

I hope that you will join "The Casey Serin Project" and spread the word.

5 comments:

Schnapps said...

I think its a great idea.

Unfortunately, I don't think I'll be of much help, living north of the 49th

Anonymous said...

This is a nice idea.

What gets me worked up is the fact that it just wasn't the mortgage loan fraud, but Casey and Galina had to have been untruthful about their earnings to have gotten so much credit card debt, etc.

If they are not held accountable, what will keep others from getting credit cards, going on luxury vacations and then coming home and claiming poverty and bankruptcy.

I have the "ability" to run up $100,000s in cc debt because of my good credit - but how much do I owe on my credit card? Maybe $900.

I'm on an all cash basis. The only things I buy with credit are those with lasting value - i.e., real estate.

What is killing us is the availability of credit and the "get it today and pay tomorrow (or next year)" lifestyle.

People are up to their eyeballs in debt and continue to spend money they don't have. While it may seem this keeps our economy going, it is just one big ponzi scheme.

Nigel Swaby said...

What are you talking about? There is no subprime meltdown. Sales in Salt Lake City are the best in the country thanks to me. I am the greatest, see here, here, here, here and here. Oh, and by the way, go here also.

Aspeth said...

Hi Schnapps...We'll see if anything comes of it. The idea was a result of that EN post and Stephanie J pointing out the 'stats' of Casey's readers. That's the side that the legislators and the folks allowing him positive press aren't seeing, but should be.

@Anon...Not just that, but ten days after he's begging for money from his readers to pay a $220 note to CashCall, he's somehow paid down a $4,500 loan to establish at least 1 shell corp. So he's obviously going to continue to scam and fraud until he's forcibly stopped.

@Nigel Swaby...Spoken like someone on the wrong side of this mess

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