Congressional scheming exposed by CREW and 60 Minutes

This is not surprising – but it is disgusting… A bit over minimum wage, yeah?

justiceleague00's avatarJustice League

Watch 60 Minutes this Sunday. H/T to CREW:

Over the past few months, CREW has been working with 60 Minutes to expose yet another scheme by members of Congress to fill their families’ pockets with other people’s money.

And here is a snippet video from 60 minutes investigated by Steve Kroft on CBS This Morning. Click here. And here is the report of Congressional members in all states that use political action committee funds to employ family members:

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Lawmakers call for banks to rescue federal employees

How do we distinguish between government worker who lost their paychecks and employees of major corporations that laid off personnel or the construction industry that lost their jobs when Wall Street crashed the economy? If you work for the government you deserve special treatment? Ummm…???

justiceleague00's avatarJustice League

Lawmakers call for banks to rescue federal employees

Lawmakers urged financial institutions to work proactively with borrowers facing financial distress because of the government shutdown. For three weeks, federal employees have been out of the job without pay.

As the nation enters day 14 of the federal freeze, many government employees are beginning to feel the early signs of financial hardship.

Rep. Maxine Waters, D-Calif, spearheaded a concurrent resolution, along with 30 other policymakers, urging institutions such as banks and consumer reporting agencies to work with customers affected by the shutdown.

“The shutdown of the federal government has forced thousands of people into financial distress through no fault of their own,” Waters said. “Financial institutions should not penalize — or profit from — those affected by these difficult circumstances.”

The proposal calls on institutions to identify customers affected by the government halt and asks the entities to adopt flexible…

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US banks no longer ‘too big to fail’, says Tucker

Can’t argue his thought process – probably 300 million Americans feel the same way.

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US banks no longer ‘too big to fail’, says Tucker

The deputy governor of the Bank of England has declared an end to the era of taxpayer bail-outs for the world’s giant lenders.

Almost five years to the day since the collapse of Lehman Brothers triggered the worst financial crisis since the 1930s, Paul Tucker claimed that America’s biggest banks are now in a position to go bust without state intervention.

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DOJ Said to Open Criminal Probe of FX Market Rigging

They forgot the “I” in FX… This is why every homeowner with an ARM or LIBOR based rate loan should incorporated a rigged LIBOR rate claim and argument into their Answer…and serve discovery with it!

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DOJ Said to Open Criminal Probe of FX Market Rigging

The U.S. Justice Department has opened a criminal investigation of possible manipulation of the $5.3 trillion-a-day foreign exchange market, a person familiar with the matter said.

The Federal Bureau of Investigation, which is also looking into alleged rigging of interest ratesassociated with the London interbank offered rate, or Libor, is in the early stages of its currency market probe, said the person, who asked not to be identified because the inquiry is confidential.

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$High$ Priced Attorneys Don’t Necessarily Buy Truth

crazy HomerThe GLASKI opinion has made the Wall Street banking industry crazy. There was an outcry for publication of this case as it allowed homeowners to challenge fabricated assignments. The Court agreed to publish the opinion.

The securitization case was briefed and argued as a New York law trust case when in fact it was actually a Delaware trust. While the outcome may have likely been the same, the Court’s opinion was based upon New York Trust Law. Thereafter, the banks (that it appears failed to raise these issues during or after the hearings) wanted the opinion to be de-certified for publication. Continue reading

Wall Street Bank Attorneys Are Sour Grapes Over Glaski

Oh Boo Hoo Morgan Lewis! 

garfield_butt_by_garfieldcat2012-d6ijytvYesterday, Bernard J. Garbutt III (really), a partner with NY firm Morgan Lewis, sent a letter to Chief Justice Tani G. Cantil.Sakauye and the Associate Justices of the Supreme Court of California representing Deutsche Bank National Trust Co., following an October 4, 2013 letter from AlvaradoSmith (representing JPMorgan Chase) requesting depublication of Glaski v. Bank of America, N.A.

Apparently, Glaski makes the banksters uncomfortable enough that they want the decision to be removed from publication based on the fact that the “PSA states explicitly that the Trust is a Delaware Statutory Trust, organized under the Delaware Statutory Trusts Statute, 12 Del. Code Ann. §§ 3801 et seq., and governed by Delaware law. See, e.g., PSA § 10.05 (governing law).” So, the Wall Street banks hired high priced firms to pen letters to the appellate court begging to hide the Glaski decision.

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KISS MY FANNIE MAE

ROAD TO LIBERTY in July 2013 wrote

FANNIE MAE, BY ITS OWN ADMISSION, OWNS NOTHING …”

fannie-mae-cartoonLIBERTY continues:  “[Judge] Schack correctly concludes that “FANNIE MAE’s Servicing Guide, with its deceptive practices to fool courts, does not supercede New York law.”  I had the same thought when I first encountered this fiat decree of Fannie Mae’s when researching my own lawsuit against Fannie Mae and others a couple of years ago.  It is a relief to hear a judge articulate this so starkly.”

The LIBERTY post inspired a Honolulu attorney’s client who penned a tribute to ol’ Fannie: Continue reading

State AGs settle with LPS for $113 million; Only Nobody Knew

cluelessIn an investigative post, MSFraud.org exposed an unknown state Attorneys General settlement with Lender Processing Services (LPS) for $113 million dollars in an El Paso district court.

One would wonder how, for example, the State of Hawaii (who received a pittance compared to the damage to titles LPS has caused) could even begin to agree to a settlement when they have NEVER even bothered to audit its own Hawaii Bureau of Conveyances! Hawaii is a mortgage lien state where the homeowner holds the deed, unlike a Deed of Trust state where the deed is held by a (fishy) beneficiary.

Millions of homeowners never knew that LPS fabricated and falsified documents that could still cloud their titles for years to come – even if they received a modification. The point here is that many states, including Hawaii where land rights are a very precious subject, have turned a blind eye to fraudulent assignments of mortgage or the fact that the mortgage   Continue reading

Glaski Decision Appears to Place Lenders on Notice to Verify Accuracy and Effectiveness of Loan Assignments

It is the premise that counts. The CA appellate court restores my faith in judiciary intelligence. Write good law, write a book, make a movie (you’re close to Hollywood) – in the long run it’ll be worth more than your stock portfolios.

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Glaski Decision Appears to Place Lenders on Notice to Verify Accuracy and Effectiveness of Loan Assignments

 

by:
Duane Morris LLP – Philadelphia Office
 
September 11, 2013

Previously published on September 10, 2013

The recent decision in Glaski v. Bank of America, National Association, et al., 160 Cal. Rptr. 3d 449 (2013), may, at least in certain circumstances, impact the ability of residential mortgage-backed security and commercial mortgage-backed security lenders to keep pooling and servicing agreements out of two-party borrower-lender disputes, and appears to place lenders on notice to verify the accuracy and effectiveness of their loan assignments.

In Glaski, the borrower’s residence was foreclosed upon (due to nonpayment) by the successor to a securitized trust. After the foreclosure, the borrower filed a complaint for fraud, quiet title, wrongful foreclosure, declaratory relief and cancellation of foreclosure documents against the successor to the securitized trust, among other entities…

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Is Borrower Bashing a Disease or Psychotic Disorder?

Scott Stafne goes to Dallas

By Scott E Stafne of Stafne Trumbull, LLC

Scott042-850x422-580x333In search of Continuing Legal Education credits I wandered into a different world last Thursday and Friday at the American Conference Institute’s Residential Mortgage & Regulatory Conference, Dallas, TX. The people at the conference, mostly lawyers for institutions seeking to eject people from their homes, were clearly human beings; Mostly youngish (under 55). Except for a token two-person panel representing home owners and a group of judges, most of the speakers seemed to agree that there was little need for meaningful judicial involvement in throwing home owners out of their homes. Indeed, many appeared indignant that families would not simply march Continue reading