PEEP 6: The Full Body
January 2005

Mortgage fraud
Those who do it
(See Ben Stewart*)

Burma Shave

A bubble balances on the tip of a pyramid as Ponzi rules the housing market. Mortgage crooks dance the flim flam and flip each other off. Some leave on their own steam. Inflated funeral costs to be footed by others. Ponzi is a chiseler god. Plus a greedy gus. More More More sings the Church of HUD choir. I insure the dead, booms Father FHA from the pulpit. Fannie Mae & Freddie Mac roll their eyes upward, checking Heaven's gate for a "Sold" sign. While non-profit prophets say eminent domain is the best way to handle that location location location. 'Cause when souls are appraised at true value, it can make the whole market go south.

Carola Von Hoffmannstahl-Solomonoff

*Ben Stewart was mayor of Union Point, Georgia for 24 years. He also ran a massive real estate related scam. Stewart defrauded hundreds of people in his home town area, cheating many of them of their life's savings. He applied the money to vacation homes, country club memberships and Las Vegas gambling debts. Eventually, a multi count indictment came knocking and on May 13th, 2004, Ben Stewart shot himself. During the past year the mortgage industry has been marked by violent incidents. Including murders sparked by unraveling frauds.

PEEP 6 Content


Mondo QT

Peep #6 Cover