Know Any Whistleblowers?
By Jerome Doolittle
Created May 9 2008 - 8:30pm
In all the coverage of the subprime mortgage mess, there has been a key
element missing: the sales pitch.
This is where the rubber meets the road, where the actual swindle goes
down,
where the trap snaps shut and the sucker is held fast till he can be
skinned
alive. It is the Glengarry Glen Ross moment.
We must understand these moments when we listen to the head hogs -
Countrywide, Merrill Lynch, Citicorp, AIG and the other giant loan sharks
-
as they whine that the whole disaster is all the fault of deadbeat
borrowers
who should have known better.
And these moments are all committed to paper somewhere, except I don't
know
how to get my hands on it. So I'm asking for help. Does anybody out there
know somebody who was or is involved with a subprime mortgage outfit?
These moneylenders don't just send their high-pressure sales force into
battle unprepared. Like any other high-pressure sales outfit, mortage
brokers must use work sheets, talking points, training manuals and even
scripts. These are to be followed, sometimes word for word. That's what it
means when the voice on the phone says, "This conversation may be recorded
for training purposes?"
Every reasonable objection the prospect may raise has been anticipated,
and
a suitably deceptive answer prepared. Every evasion and obfuscation and
misdirection has been scripted. And I'd like to put this stuff on the
internet where it belongs - not to expose or embarrass any individual, but
to expose the shabby trickery upon which the huge banking firms are built.
The most likely source for such do***entation, it seems to me, would be a
remorseful or disgruntled former employee of a mortgage broker who hasn't
bothered to throw out the old scripts and manuals.
Do you know any such person? I would offer him or her, and you, complete
anonymity of course. Written backwards, my phone number is 0075793068. In
the same way, I can be reached on line here: moc.liamg@[EMAIL PROTECTED]
NOTICE: This post contains copyrighted material the use of which has not
always been authorized by the copyright owner. I am making such material
available to advance understanding of
political, human rights, democracy, scientific, and social justice issues.
I
believe this constitutes a 'fair use' of such copyrighted material as
provided for in section 107 of the US Copyright
Law. In accordance with Title 17 U.S.C. Section 107
"A little patience and we shall see the reign of witches pass over, their
spells dissolve, and the people recovering their true sight, restore their
government to its true principles. It is true that in the meantime we are
suffering deeply in spirit,
and incurring the horrors of a war and long oppressions of enormous public
debt. But if the game runs sometimes against us at home we must have
patience till luck turns, and then we shall have an op****tunity of winning
back the principles we have lost, for this is a game where principles are
at
stake."
-Thomas Jefferson
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