• Renee Ramos Yamagishi

Whitaker writes, “[A]t this point, it is not clear whether or not it will be possible to have a true



R. David Whitaker is quite a character: He and his cronies essentially wrote the legalese that codified and made "legal" a shell game rife with opportunities to defraud and deceive by those on the inside who may sometimes be just a tiny bit tempted by greed and lawlessness but certainly needed a good cover to pull it off with anonymity and impunity.

Learning this from blogger of Deadly Clear: https://deadlyclear.wordpress.com/2013/10/05/is-the-promissory-note-even-enforceable/

Whitaker participated in the drafting of the Uniform Electronic Transactions Act, where he chaired the Task Force on Scope and served as reporter for the Task Force. A former reporter for the American Bankers Association, in 1999 he wrote an interesting paper called: Rules Under the Uniform Electronic Transactions Act for an Electronic Equivalent to a Negotiable Promissory Note.

He apparently concedes in this paper that pandering ELECTRONIC SIGNATURES [of parties in contract, such as "borrowers" to whom such pandering was NOT disclosed], could become .. ummm, er... problematic? Shall we say? With regards to now obliterating any "unique self-contained physical token." We now understand that the original wet-ink signed notes were shredded: who needs literal mega-warehouses holding tons of paper notes when everything was done electronically anyway? I mean, as long as every single person along the way NEVER fudged a thing or two, always were impeccably honest with each keystroke. Everything's in order, why of course! Right?

Sure, no one EVER profited from selling and reselling the very same promissory note IN ITS ELECTRONIC form, duping everyone who had no reason to believe they had anything less than the TRUE original electronic version of THAT note. I mean, why wouldn't they? There it is right there: in the inbox through the secure encrypted company terminals! All is in order... boy this is a great job! .

Actually the ones on the inside of THAT particular derivation (derivative) never punched keystrokes with their own fingers -- no doubt they simply directed managers to mandate policies for their underlings -- and each employee in a cubicle did their little part -- ONLY a very few either knew what the back-end structure was; or recognized it earlier than most everyone else and positioned themselves to profit from the fat non-stop returns coming off that conveyor belt as it rolled out.

Whitaker is a clever writer isn't he? "Token." What a great word-choice! Just a trinket, a trivial little thing.... Yeah, right. But the Note is the physical tangible wet-ink signature that PROVED the indebtedness TO the Creditor FROM the borrower. And for HUNDREDS of years it is precisely this "physical token" and evidence of "Seal by Signed Hand," when it is sold for value, i.e. when the Note is "negotiated" from one party and to the subsequent party who paid for value to own THAT Note.

But never mind, the industry is simply upgrading, improving, streamlining its business practices to keep up with modern-day technology! Who can claim any harm comes of that!? Sigh.

If you just look at it logically, having one original wet-ink promissory note is FOR GOOD REASON: when you have to PROVE it's YOUR money or property that someone owes you, then you make sure no one else can wave around the same electronic copy of it. If you never worried about collecting on it because you had a back-end "credit default swap" payout coming on that note with no one knowing your true identity, then you're fine about letting multiple electronic copies of the note out there -- you got yours and those who got there too late can just get scrappy and duke it out in the streets

Well, in 1999 what was "theory" has now played out in the physical material universe in which living beings such as human beings actually dwell; where the sun rises and sets and the months turn round into years; and in the flesh of people and their children and their parents and their pets; friends, relatives, neighbors and community leaders .... we now KNOW the end results of the cleverly disguised plague and scourge.

HOW? WHY? Answer: Because one Electronic Promissory Note looks EXACTLY like another. In fact, one Electronic Promissory Note IS EXACTLY LIKE ANOTHER. Oh! Well, then, let's just sell 2 or 3 or 10 Electronic Products, who would ever know? "Oh, no way, Wall Street traders and brokers wouldn't EVER do such a criminal thing ... I mean if others caught on, it would be crazy! It could kick off a global financial crisis!"

Well here on Main street we have a PUBLIC HEALTH CRISIS -- the deeper true core wrapped up inside the financial crisis of "foreclosure," a word that may initially elicit a reaction like, "Oh, that's about banks and people signing loan documents ..." Well, then lets name it what it actually IS when it comes to the EFFECTS on living human beings: A MAN-MADE KILLER TORNADO THAT RIPS AWAY A HOUSE AND HOME FROM THE PEOPLE WHOSE PROTECTION FROM THE HARSH ELEMENTS OF NATURAL ENVIRONMENT AND WHOSE REFUGE FROM THE BIG NOISY WORLD OF OFFICE BUILDINGS AND CRAZY PEOPLE AND HONKING CARS AND COLD STEEL RAILS -- USED TO BE THAT VERY HOUSE AND HOME.

Duping homeowners isn't slick and clever like it used to be is it?

Are we ready to have more conversations across the divide? And get some Reset Buttons clarified, so we can reset them already??


counter added 6/1/2018

All Rights Reserved,  Renee Shizue Ramos Yamagishi, 2016

Nothing on this site is to be taken as "legal advice," and content here is presented by a non-BAR non-lawyer and researcher / writer, who is self-represented Sui Juris when seeking remedy from the judiciary.