Robert Kraus lost his job in 2006 after he says he raised red flags about questionable activities in the corporate and investment bank at Wachovia, now part of Wells Fargo. Since then, he says he has fallen behind on his mortgage because he hasn’t been able to find work in financial services.

“It’s impossible to support my family,” Kraus said in an interview. “I’m unable to find work in my field.”

Wells Fargo started foreclosure proceedings against Kraus and his wife, Julianne, in December, according to court documents. The Krauses are behind on payments on the $515,000 mortgage for their Waxhaw home. A hearing before the Union County Clerk of Superior Court is scheduled for June 9.

It’s not unusual for whistleblowers to fall on hard times, said Fred Alford, a professor of government at the University of Maryland who has written a book on whistleblowers. About half lose their…

• More than seven years after the global financial collapse, regulators and investors are still working through a mile-high pile of lawsuits and other civil actions, and it seems like the fines keep on coming.
• Since the crisis, banks and other institutions have paid more than $150B in fines, settlements and other penalties, according to a tally by FT. That compares with the roughly $700B in profits generated by U.S. banks between 2007 and 2014.
• So where have all the payments gone? The biggest have landed in the Justice Department, which has collected some $50B. Other heavy collectors include the FHFA, Fannie Mae, HUD and the SEC.
• Among the banks paying the biggest amounts, BofA (NYSE:BAC) tops the list – with nearly $58B, followed by JPMorgan (NYSE:JPM) ($31.3B), Citigroup (NYSE:C) ($12.8B) and Wells Fargo (NYSE:WFC) ($9.7B).

THE HIDDEN TRUTH

Behind the collapse of the economy in the U.S. and around the world is the massive loss of pension and retirement funds belonging to government employees, union workers and corporate 401k beneficiaries – these were the “investors” in the securitization fraud stemming from the unregulated derivatives.  Hordes of lawsuits have been filed by investors against Wall Street banks, but it’s pretty obvious the money is gone.

For more information please call 954-495-9867 or 520-405-1688

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see http://www.courant.com/opinion/letters/hc-go-after-mortgage-fraud-perps-20150427-story.html

It appears that the statute of limitations might be running out this year on any claim against the officers of the banks that created the fraudulent securitization process. Eric Holder, outgoing Attorney general, made an unusual comment a few months back where he said that private suits should be brought against such officers. The obvious question is why didn’t he bring further action against these individuals and the only possible answer I can think of is that it was because of an agreement not to prosecute while these officers and their banks “cooperated” in resolving the mortgage crisis and the downturn of the US economy.

People keep asking me what the essential elements of the fraud were and how homeowners can use it. That question involves a degree of complexity that is not easily addressed here but I will…

In re Betchan, 524 B.R. 830 (Bankr. E.D. Wash. 2015) –

A mortgagee was the highest bidder at a foreclosure sale that took place shortly before the debtor filed bankruptcy.  The lender requested relief from the automatic stay in order to evict the debtor on the basis that transfer of the property was completed prepetition so that it was not part of the debtor’s bankruptcy estate.

Submitted by Pater Tenebrarum via Acting-Man blog,

Banks Increasingly Refuse Cash Withdrawals – Switzerland Joins the Fun

The war on cash is proliferating globally. It appears that the private members of the world’s banking cartels are increasingly joining the fun, even if it means trampling on the rights of their customers.

Yesterday we came across an article at Zerohedge, in which Dr. Salerno of the Mises Institute notes that JP Morgan Chase has apparently joined the “war on cash”, by “restricting the use of cash in selected markets, restricting borrowers from making cash payments on credit cards, mortgages, equity lines and auto loans, as well as prohibiting storage of cash in safe deposit boxes”.

This reminded us immediately that we have just come across another small article in the local European press (courtesy of Dan Popescu), in which a Swiss pension fund manager discusses his plight…

Originally posted on Raging Bull-shit:ByEllen Brownand cross-posted from Common Dreams (Photo: CWA/cwa-union.org) “The United States shall guarantee to every State in this Union a Republican Form of Government.” —Article IV, Section 4, US Constitution Arepublicanform of government is one in which power resides in elected officials representing the citizens, and government leaders exercise…

http://awaken-longford.com/2015/04/25/the-trans-pacific-partnership-and-the-death-of-the-republic/