Monthly Archives: May 2014

JPMorgan, Goldman Sachs Claim Currency Suits Fall Short

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Plaintiffs need to expose the patents…licensing … Intent and restraint of trade… Gotta use or you can’t play. See Ocwen v. MERS (an early case)…

justiceleague00's avatarJustice League

JPMorgan, Goldman Sachs Claim Currency Suits Fall Short

Case Title

Haverhill Retirement System v. Barclays Bank PLC et al

Case Number

1:13-cv-07789

Court

New York Southern

Nature of Suit

Anti-Trust

Judge

Lorna G. Schofield

Law360, Los Angeles (May 30, 2014, 10:42 PM ET) — A group of financial institutions accused of manipulating foreign exchange rates asked a New York federal judge on Friday to throw out the charges, saying the complaints don’t specifically allege any concerted efforts by the banks to restrain trade.

Nearly a dozen banks teamed up in a bid to dismiss the investor suits, which claim they worked together to manipulate the massive currency market to their own advantage. The banks say the investors haven’t adequately alleged that the banks entered into an agreement in restraint of…

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BREAKING NEWS: Newark Votes, Approves Use of Eminent Domain to Fight Foreclosures–First Domino Falls

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Bravo! If only more states and cities had the same testicular fortitude!

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BREAKING NEWS: Newark Votes, Approves Use of Eminent Domain to Fight Foreclosures–First Domino Falls

Newark, New Jersey has become the first city in the country to officially approve a controversial plan that uses eminent domain to fight foreclosures and neighborhood blight. 

Newark’s new mayor, Ras Baraka, introduced the resolution and the Newark Municipal Council, which passed it unanimously, according to a press release issued today by New Jersey Communities United (unitednj.org), which describes itself as a progressive grassroots community organization committed to building power for low and moderate income people, predominantly in Newark.

According to the release…

“Newark Council Unanimously Approves Resolution Supporting Local Principal Reduction Program for Families Facing Foreclosure
Mayor-Elect Ras Baraka Leading Fight Against Foreclosure Crisis in Newark”

The program would allow homeowners trapped in certain type of mortgage, known as a Private Label Security or PLS Loans, to voluntarily participate in a program where the City purchases…

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Chris Christie can’t afford to pay public teacher pensions… but still hands education megacorp $82m in subsidies

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Chris Christie can’t afford to pay public teacher pensions… but still hands education megacorp $82m in subsidies.

It’s not because NJ “can’t afford” to pay pensions – it appears its because NJ carelessly invested in fraudulent securities without thorough due diligence like nearly every other state in America. They gambled away the retirement funds of their employees.

In the NY Times today SEC Mary Jo White announced the use of Section 20(b) of the Exchange Act – indirect culpability … It’s time to grill the finance directors on who gave the orders to buy these crappy securities because they had to know (especially after 2004) that these were questionable investments. What promises were made by the investment banks in exchange for the pension fund investments?

Robo-signing is over. But robo-suing is growing.

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Until the USPTO patents are confiscated the business process will continue and remain corrupt. Fines are merely a cost of doing business that ultimately are worn on the back of the consumer – but confiscating the patents might curve the corruption.

justiceleague00's avatarJustice League

Robo-signing is over. But robo-suing is growing.

A small group of debt collectors are robo-suing people who default on their credit cards. Now, state and federal authorities are cracking down.

Remember the term “robo-signing”? You know: what all the mortgage companies were doing a couple of years ago when they kicked people out of their homes without following the process of law. Did you know that robo-signing is still happening tens of thousands of times every day?,

Most people don’t know. But it is true. This time, it involves buyers of credit-card debt who are robo-suing. Every day, about a dozen of these companies take this procedural shortcut by filing lawsuits to try to use the courts to force people into paying back the debt they’ve defaulted on. These suits have no true legal standing because they violate the most basic principle of theburden of legal proof. That’s…

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Podcast: How to Protect Yourself (and Your Data) Online

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FRONTLINE > Government / Elections / Politics > United States of Secrets >
May 20, 2014, 3:53 pm ET by  and Michelle Mizner

FRONTLINE LISTEN NOWOur personal data is everywhere online. Much of it we post ourselves on social-networking sites like
Facebook and Twitter.

But much more is gathered, stored and even sold without our knowledge. We wanted to understand how much of our data is out there, who collects it — and whether, in today’s world of oversharing online — privacy even matters.

FRONTLINE asked two privacy experts to help answer these questions, and talk about what they do to protect themselves online. CLICK HERE FOR THE PODCAST.

Does it affect your ability to achieve a mortgage modification? Just something to consider.

“Bankruptcy court corruption is not just a matter of bankruptcy trustees in collusion with corrupt bankruptcy judges.” — AG John Ashcroft

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By Sydney Sullivan

gavel moneyEvery day I hear more stories about alleged corruption in the courts, not only when it comes to foreclosures, but also bankruptcy – especially when families are trying to protect their homes. It is more than obvious that the system is flawed.

Judges are not necessarily adept, specifically educated or predisposed to this new form of securitization…these quasi-securities called NTMs (nontraditional mortgages). Nor are they willing to risk their investment portfolios and mutual funds to protect the average citizens in America. Continue reading →

Sense on Cents: Message for Tim Geithner On the Release of Stress Test

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By Larry Doyle

Dear Tim,

Geithner bookCongratulations on the release of your book. I assure you that I will read it and review it here at my blog.

Given your positions formerly as head of the New York Federal Reserve and Secretary of Treasury, you will certainly receive enormous media attention and exposure in touting your book and your take on dealing with the crisis of 2008. To wit, I see just this morning that The Wall Street Journal is running your editorial entitled The Paradox of Financial Crises.

Tim, let’s cut the bull$hit.  Continue reading →