PUBLIC TESTIMONY
Testimony by Karen Greenwood, Member of the Public, on Deed Theft and Foreclosure Issues
2:19:02
·
8 min
Karen Greenwood provides passionate testimony about ongoing issues with deed theft and foreclosure in New York City, particularly affecting Black and Brown communities. She criticizes the lack of effective action from various government bodies and officials since 2019, despite multiple hearings and promises of investigation.
- Greenwood traces the roots of the current crisis back to the 2008 real estate market crash, detailing the roles of various financial institutions and government policies.
- She calls for immediate action, including an executive order from the mayor and an injunction from the Attorney General to stop wrongful evictions and property theft.
- The testimony highlights the frustration of community members who feel their concerns are not being prioritized, despite paying taxes and repeatedly raising these issues.
Karen Greenwood
2:19:02
Good day.
2:19:03
My name is miss Greenwood.
2:19:08
I'm my heart is full right now because since 2019, we had our first hearing of deed theft, foreclosure theft with Eric at with with Eric Adams, with Carnegie, with Richie Torres.
2:19:27
We've been having, like, I would say, a hamster ride going on here.
2:19:32
Bamboozle, hanging fruit, hijacking of land, and it's gonna continue to go on.
2:19:40
I see this.
2:19:41
Because if we would've had a resolution from then, we wouldn't be sitting here.
2:19:46
It's not a priority.
2:19:48
We've asked for an executive order with de Blasio.
2:19:52
It never happened.
2:19:53
Governor Cuomo signed a bill for an investigation through Department of of Finance.
2:19:59
Department of Finance, HPD, no transparency of investigations have ever occurred.
2:20:06
The district attorney, Eric Gonzalez, no approaching the homeowners the way that he should.
2:20:16
You go to the building, you don't even know if it's a DA's building in Brooklyn.
2:20:23
Every other borough, they've been able to help the homeowners.
2:20:27
Right now, we have many homeowners that their properties has been stolen.
2:20:32
Every Thursday, we have a hanging fruit.
2:20:35
Every Thursday, illegally, wrongful foreclosures.
2:20:39
These judges, which is now they they have themselves as god to take people's properties.
2:20:45
A rubber stamp is called complex homeowners foreclosures, a wrongful eviction, housing court.
2:20:54
Everybody, trust and believe.
2:20:57
No one is sleeping.
2:20:58
We all see what's going on.
2:21:00
This is land hijacking.
2:21:03
And I'm gonna give you I'm gonna give you a little rundown from where we know this has occurred and why it isn't why it hasn't stopped.
2:21:12
Because first and foremost, we know this is a white collar law.
2:21:16
The 2008 real estate market crash was caused by a combination of irresponsible lending financial speculation, inadequate leg regulatory oversight involving key politicians, banking institution, major financial institutions such as Lehman Brothers, Bear Stearns, AIG, Countrywide Financial Fueled, the crises by issuing, investigating, investing high risk subprime mortgages.
2:21:43
These loans are often bundled in a complex financial products like mortgage backed securities and collateralized debt obligations marketed as a safe investment despite their underlying instability.
2:21:58
Government sponsored enterprises like Fannie Mae, Freddie Mac further amplified the problem by buying and guarantee large volume of these risk risky loans.
2:22:11
One pot political side policies promoting home home ownership pushed by lead leaders like president George w Bill Bush and president Bill Clinton encouraged lenders to loosen standards.
2:22:24
The appeal to the Glass Steagall Act in 1999 championed by senator Phil Graham and signed into law by president Clinton, allowed banks to merge cur commercial commercial and investment activities increasing risk.
2:22:38
The regulatory agencies like the Securities and Exchange Commission and the Federal Reserve under Allen Greenspan and later Ben Barneke failed to act on warning signs.
2:22:50
Greenspan prolonged low interest rates in early 2000 spurred excessive borrowing and speculation in real estate.
2:22:59
Congress also played a role with bipartisan resistance to stricter oversight of institution like Fannie Mae and Freddie Mac.
2:23:06
When housing prices fell, default surge leading to massive losses and the collapse of institution like Lehman Brothers, the financial crisis triggered global economic turmoil and required governmental bailouts including the trouble asset relief program, TRP, signed into law by President Bush and I'm gonna say something.
2:23:29
This homeowner protection, I don't know if you wanna call it bamboozle protection program because since 2011, 2010 no, 2010, 2011, Schumer, Hines ordered that there be a legislation for funds implemented to help with these crises, with litigating in the courts.
2:23:52
That wasn't done.
2:23:54
Money to track all the the the the cases for deed theft and foreclosure theft, there was supposed to be data tracking.
2:24:03
No funds was provided for you to hire task force for these issues because it's not a party.
2:24:09
Because why?
2:24:11
It's black and brown again.
2:24:12
Black.
2:24:13
We're under the attack.
2:24:15
We're under the attack.
2:24:17
We're under siege.
2:24:18
Mhmm.
2:24:19
And it has to stop.
2:24:21
We should not be suffering like this.
2:24:23
There needs to be an injunction.
2:24:26
The the AG herself and I'm gonna give homage to the first attorney general because there, he gave funds to all homeowners and tenants who were being wrongfully evicted.
2:24:39
You can't tell me she can't do it because she can.
2:24:42
She's the one who could do an injunction in the Martin Act right now in the courts and stop the bleeds.
2:24:47
Stop it all.
2:24:49
But everybody again have their own priorities.
2:24:52
And I would say to my brothers and sisters as democrats, when you were in the house for what you're in control of the senate, you're in control of the housing, you will control everything.
2:25:03
We shouldn't be fearing nobody right now, even the new administration coming in.
2:25:09
None at all.
2:25:10
This is disgrace, and it has to stop because people, We The People, are for the people.
2:25:17
But the congressmen, the senators that keep knocking on our door, begging for donations, we don't hear you anymore.
2:25:27
Mhmm.
2:25:28
We don't hear you.
2:25:30
You're gonna have us displaced.
2:25:32
You're gonna have us, deported, and we know what next is gonna occur.
2:25:38
But if you guys woulda did a stronger legislation to protect us on all folds, we wouldn't be sitting here to have a panic button to fear for our lives right now.
2:25:48
We pay taxes.
2:25:50
311 doesn't help.
2:25:51
City council, we're asking you to do an executive order with Eric Adams right now.
2:25:58
Stop bamboozling the people.
2:26:00
The people are hurting.
2:26:02
You have mental health even housing, people who right now as tenants are having a problem because there's no regulations, there's no policies of helping them.
2:26:14
So you can't blame health mental health either.
2:26:18
Nobody's doing anything.
2:26:20
We should not be sitting here every single year petitioning, fighting, arguing, begging for the rights of the people.
2:26:29
We pay taxes, and money is going overseas every month, every year, and people are hungry here.
2:26:36
People are starving.
2:26:38
That should not be enough already.
Crystal Hudson
2:26:42
Thank you for your testimony.
Rachel Ciprian
2:26:43
This is reminiscent of Tulsa because she said black and brown, the only people that are hurting from deep theft that I've seen in all the rooms that I've been at are black people.
2:26:52
This is reminiscent of Tulsa, Oklahoma.
2:26:55
Our our wealth is being stolen.
2:26:58
It's disgusting.
Crystal Hudson
2:26:59
Thank you.
2:26:59
I have to move on to the next I'm sorry.
2:27:01
Witness.
2:27:02
Roger Rowe?
