Watch it – Nothing else needs to be said.
Thanks Shawn – LOL
Because Obama
3
Orlando couple wins $3M award from Citigroup, one of largest in recent years
Orlando couple wins $3M award from Citigroup, one of largest in recent years
A federal regulatory panel has awarded more than $3 million to an Orlando couple in a case that accused banking giant Citigroup Global Markets Inc. and a former local broker of negligence in getting the couple to invest in ill-fated land deals.
The panel found the Citigroup unit liable for its broker’s actions and said the company must pay $3.1 million in compensatory and punitive damages and other costs, according documents released this week by the Financial Industry Regulatory Authority.
CFTC not part of settlement – pursues own probe of JPM
It’s unraveling at lightening speed – compared to the past…
CFTC not part of settlement – pursues own probe of JPM
- Not a part of JPMorgan’s (JPM -0.3%) reportedly nearing settlement with regulators on both sides of the pond over the London Whale incident, the CFTC is pursuing its own probe, reports the WSJ. Feeling its oats thanks to new powers granted to it by Dodd-Frank, the CFTC is zeroing in on aggressive derivatives bets made in early 2012 as traders tried to contend with growing losses in the bank’s credit portfolio.
Mr. Potter and the State of Washington Legislate No Need for Original Note – Just Take the Land; Bye Bye
By Sidney Sullivan
The history of Washington includes thousands of years of Native American history before Europeans and Americans arrived and began to establish territorial claims. The region was part of Oregon Territory from 1848 to 1853, after which it was separated from Oregon and established as Washington Territory. In 1889, Washington became the 42nd state of the United States – and was recently screwed by its own legislature. [Source: Wikipedia]
On Tuesday, March 19, 2013 the Washington SENATE FINANCIAL INSTITUTIONS, HOUSING & INSURANCE Committee met to discuss SB 1435, a law that excludes the need for the original promissory note – as a convenience to lenders, title insurance companies and the Washington Bankers Association – Mr. Potter Eliason.
PHOENIX LIGHT SF LIMITED vs CREDIT SUISSE AG | NYSC – investors are only now becoming aware that, while they thought they were purchasing “mortgaged-backed” securities, in fact they were purchasing non-mortgagedbacked securities
Maybe now they are realizing that as investors they were only leasing the revenue stream. Does that make them owners or even holders?
Trusts are unable to foreclose on loans because they cannot prove they own the mortgages, due to the fact that defendants never properly transferred title to the mortgages at the closing of the offerings. Moreover, investors are only now becoming aware that, while they thought they were purchasing “mortgaged-backed” securities, in fact they were purchasing non-mortgagedbacked securities.
Here is the court document:
No balloons and cake for Wall Street: Larry Summers pulls out of running to be Federal Reserve chairman
Hallelujah.
Maybe there’s a God above.
But all I’ve ever learned from love
Was how to shoot at someone who outdrew you
It’s not a cry you can hear at night
It’s not somebody who has seen the light
It’s a cold and it’s a broken Hallelujah
Hallelujah, Hallelujah
Hallelujah, Hallelujah
WASHINGTON — Former Treasury Secretary Lawrence H. Summers has withdrawn his name from consideration to be the next chairman of the Federal Reserve chairman, President Obama said Sunday.
Summers had been a leading contender to replace current Chairman Ben S. Bernanke, whose term expires in January, and in recent weeks had appeared to be the front-runner.
His withdrawal opens the door for the other leading contender, Janet L. Yellen, the Fed’s current vice chair. If nominated and confirmed, she who would be the first woman to head the central bank.
Summers, a former top economic advisor to Obama, had faced strong opposition from many Democrats. He is known for being difficult to work with and has been criticized by liberals for his support for some financial-industry deregulation in the late…
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Merritt v. Mozilo | The … judgments in favor of Bank of America and Lewis are REVERSED… In sum, the Merritts stated a cause of action for conspiracy to commit fraud against Bank of America and Lewis
The truth (and sometimes justice) takes time to surface – but like karma it usually does.
We conclude that this court lacks jurisdiction to consider the appeal as to Countrywide defendants and that the trial court did not err when it sustained the demurrers of First American and MERS. We also conclude that the trial court erred in sustaining the demurrers of Bank of America and Lewis. Accordingly, the judgments in favor of First American and MERS are affirmed and the judgments in favor of Bank of America and Lewis are reversed.
Here is the court document: http://stopforeclosurefraud.com/wp-content/uploads/2013/09/Merritt-v.-Mozilo-CA6-H037414-Cal.-2013.pdf
This is a complete list of Wall Street CEOs prosecuted for their role in the financial crisis
“But it’s shocking that for a crisis that drove the global economy off a cliff, caused millions of people to lose their homes and generally spread mass human misery to almost every corner of the earth there is no defining prosecution. No man or woman who led one of the firms directly culpable for the catastrophe has been put in a prison-orange jumpsuit. You might think that by now we could say that orange is the new charcoal pinstripes. But we can’t.” [Oh, so true…DC Ed]
Five years after Lehman fell, taking the global economy along with it, a roll call of Wall Street CEOs serving time for their role in the crisis looks something like this:
So, yeah. Zero Wall Street CEOs are in jail. But we did promise you a list:
1. No one.
2. LOL.
3. Wall Street’s lawyers are amazing.
4. Etc. Etc.
It’s not that federal government tried to prosecute a bunch of them but lost the cases. There were no serious efforts at criminal prosecutions at all.
PHOENIX LIGHT SF LIMITED vs THE GOLDMAN SACHS GROUP, INC | NY – Goldman Sachs disseminated offering documents containing false and misleading information regarding collateral quality and underwriting standards
Just one more example of empty trusts… the judiciary needs to take note.
Defendants’ failure to ensure proper transfer of the notes and the mortgages to the trusts at closing has already resulted in damages to investors in securitizations underwritten by defendants. Trusts are unable to foreclose on loans because they cannot prove they own the mortgages, due to the fact that defendants never properly transferred title to the mortgages at the closing of the offerings. Moreover, investors are only now becoming aware that, while they thought they were purchasing “mortgaged-backed” securities, in fact they were purchasing non-mortgagedbacked securities.
List of SEC Enforcements Actions Published
Brilliant compilation. Needs to be sent to every Congressional representative and US Senator with a link to OpenSecrets.org and a note of advice for them to seriously reconsider their investment portfolios.
