Silicon Valley Bank didn’t even make it to the Weekend much less through it!! There’s no stopping the collapse now. Just a matter of time for the 18,400 Regional Banks to suffer the same fate. May the Road you choose be the Right Road.
By Ellen Brown / Original to ScheerPost DeadlyClear Research and Editorial Staff
Financial podcasts have been featuring ominous headlines lately along the lines of “Your Bank Can Legally Seize Your Money” and “Banks Can STEAL Your Money?! Here’s How!” The reference is to “bail-ins:” the provision under the 2010 Dodd-Frank Act allowing Systemically Important Financial Institutions (SIFIs, basically the biggest banks) to bail in or expropriate their creditors’ money in the event of insolvency. The problem is that depositors are classed as “creditors.” So how big is the risk to your deposit account? Part I of this two part article will review the bail-in issue. Part II will look at the [UNREGULATED] derivatives risk that could trigger the next global financial crisis.
From Bailouts to Bail-Ins
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 states in its preamble that it will “protect the American taxpayer by ending bailouts.” But it does this under Title II by imposing the losses of insolvent financial companies on their common and preferred stockholders, debtholders, and other unsecured creditors, through an “orderly resolution” plan known as a “bail-in.”
The point of an orderly resolution under the Act is not to make depositors and other creditors whole. It is to prevent a systemwide disorderly resolution of the sort that followed the Lehman Brothers bankruptcy in 2008. Under the old liquidation rules, an insolvent bank was actually “liquidated”—its assets were sold off to repay depositors and creditors.
By Holly Barker, Legal Reporter Additions by DeadlyClear Research and Editorial Staff
We don’t expect to have to determine if our lawyers are in cognitive decline when we are looking for representation. However, in many states the bar associations lag behind the need to have or require annual health certificates, especially after age 60.
This article explains that in an older demographic, dementia and Alzheimer’s rates increase accordingly – even in the legal profession. While we all want the attorneys with the most experience, the best and the brightest sometimes fail at a slow and undetectable rate.
More and more lawyers practicing past 65 years old
Colleagues struggle to intervene in face of dementia
Robert Fritzshall had to be pushing 80, Bethany McLean thought, so she was a little surprised to hear him talk about expanding his law practice.
His office was a bit dusty and cluttered with papers. There were files on the floor. She was concerned that he didn’t see the need to carry malpractice insurance. But she doesn’t remember anything being a red flag.
If this case has taught us anything – its that the Rules of Evidence lag well behind digital technology and forensics creating a need for the current state and federal legislation to be updated concerning the inspection, interpretation and collection of, digital evidence along with digital devices – and proactive digital evidence and forensics
educational programs for local and state government employees need to be instituted and/or significantly updated.
In the Doc Bekkum case, iPhone text messages were used to support the complainant’s narrative. She had no witness of her own to support her allegations. The only known witness was Dr. Bekkum’s daughter who completely disputed the complainant’s testimony in a declaration, but it was after the trial. Being able to decipher real from fabricated screenshot digital text messaging is paramount in this case. From the collection to the Exhibit – the pathway must be squeaky clean.
Even the 2017 Authenticating Digital Evidence by Daniel Capra of Fordham University School of Law is now, only 6 years later, somewhat outdated as technology rapidly advances. The white paper notes:
It’s doubtful there has ever been a case that we’ve investigated this thoroughly that has been so fraught with misrepresentations, fabrications, suspense and intrigue as this one you’re about to see. A good and kind community doctor was accused of sexual misconduct by a woman who claimed to be a “hospice” caretaker.
The story starts in the summer of 2016 when a general practice physician was asked by a local State Senator to be the doctor of record for a gentleman that was later found to be under the unwanted control of the senator. The doctor had no reason to decline since the gentleman was already his patient through the community clinic.
Fake news, false identities, and phony emails – in today’s digital world, it is becoming increasingly more difficult to detect fact from fiction.
Fake Texts Are Easy To Create, Difficult To Detect
For lawyers, judges, juries, and investigators, discerning what’s real when dealing with digital evidence is more difficult than ever. This is due, in part, to how easy it is to create fake evidence. Specifically, a rise in fake text message apps makes it almost effortless to falsify all types of instant mobile communications – iMessage, SMS, MMS, and chat. Nearly every aspect of the text message can be fabricated, including the sender and recipient, time stamp, and delivery status.
iDiscovery Solutions (iDS) was founded in 2008, and is a professional services consulting firm that specializes in Digital Forensics, e-Discovery, Structured Data, Cybersecurity, Data Privacy, and Information Governance. Of the many services iDS provides is the ability to examine, dissect and provide legal testimony as to the validity of digital evidence produced in court proceedings.
Some of the best tools we have ever encountered as litigation paralegals are on Bombards Body Language, a collection of dissected videos where the goal is to teach people to be able to identify and see deception in body language. Having watched Bombard’s video channels for several years – it recently became time to move up to tutorial instruction.
Very interesting how the 80,000 “deadwood” voters in Honolulu’s DIRTY voter rolls that the City Clerk just admitted to in this video aligns very well with the in-depth analysis of @RealSKeshel who estimates that we had 90,000 imaginary votes in Honolulu’s 2020 election. But “that’s typical of Hawaii” the City Clerk tells everybody… 🙄
Follow and volunteer with @AuditTheVoteHI if you want to do something about this and assist in the local grassroots efforts for free and fair elections. 🤙
Also, check out the abnormally high blank votes in 2020 for Maui County Council.
(OP-ED) —The opinions expressed herein reflect those of the author and should not necessarily be construed as legal advice; however, the material has been vetted by an attorney who loves the thought process behind what is expressed here.
While everyone is getting the “rope-a-dope” from the banks and their mortgage loan servicers, no one’s looking to the enforcement arm of Wall Street … the revolving door into the United States Securities and Exchange Commission (“USSEC”). The author will abbreviate this agency, who is supposed to enforce violations of securities laws; however, seemingly, apparently hasn’t been doing so to the extent that We the People need them to.
The author of this post held off posting this article for the sake of clarification, insomuch that jumping the gun and sending the readers of this post on a wild goose chase for nothing would have been totally discrediting and thus, non-productive…