FDIC – Hide & Sneak …and Seal

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The Federal Deposit Insurance Corporation (FDIC) chairman serves at the pleasure of the President of the United States. During the financial crisis of 2008, Sheila Bair was chairman of the FDIC and was a member of a very small club: competent crisis-era financial regulators. Bair was one of the primary policymakers in Washington, DC during the 2007–2009 financial force majeure.

company-doeIt was during that time many banks and pretender lenders failed, including IndyMac Bank, FSB and Washington Mutual aka “WaMu”. Deals were contrived between banks by the FDIC as it stepped in as receiver to peel off assets making Master Purchasing Agreements between parties.

In some cases, like IndyMac and WaMu, these deals were struck before a bank could seek reorganization under bankruptcy protection. These “deals” included sealing documents that it appears pertain to sale agreements and the operations of the banks that probably should have led to a Securities and Exchange Commission investigation – rather than covering up the potential for fraud under court seal of, as it appears, the “Unassigned Records” as in the case of IndyMac. Continue reading →

California public employee union calls for investigation of JP Morgan Chase, other banks for LIBOR scandal

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The time has come. LIBOR rates were inducements. It was rigged. All homeowners should be suing! It should be in every single Complaint and defense. It’s time that our decent attorneys band together and file a class action. Maybe then we could strip the interest from the loans and apply all of the payments to the principal.

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California public employee union calls for investigation of JP Morgan Chase, other banks for LIBOR scandal

Fallout from the financial scandal that hit the interest-rate setting measure, known as LIBOR, continues to affect borrowers and investors. Some of them filed lawsuits after the banks’ wrongdoing came to light in 2012, including suits by the city of Baltimore and a group of homeowners. Now, California’s largest public employee union wants the state to investigate JP Morgan Chase and other major banks linked to LIBOR and consider suing to recover billions in lost investment dollars. From Sacramento, FSRN’s Max Pringle reports.

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Wells Fargo Closes My Account After $32,000 Fraud, Allows Bogus Payment To Go Through On New Account

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This is just another example of the failure of electronic transfer. Technology has advanced but so has the criminal mind…however, business has not caught up with either – except that banks have taken steps to protect themselves instead of the consumer. Who knows maybe the banks are floating fake checks like the Federal Reserve is printing fake dollars?!

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Imagine waking up one day to find your bank account has not only been compromised, but that more than $30,000 in fraudulent checks have been written on it. Then to make matters worse, once things seem to be resolved, another bogus charge is placed on an entirely new account.

This is what happened to Consumerist reader Lisa, who recently received a call from a Chase bank because someone there believed a newly deposited check was a fake.

It was. Then Lisa looked at her Wells Fargo bank statement and found that in a matter of a couple days, a total of $32,526.27 had been drained from her account, putting her more than $30,000 into overdraft.

The Wells website had scans of the 30 scammy checks, which Lisa had obviously not written. The checks were fakes that had been created using her name and account number, but Lisa knew these weren’t…

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Homeowners Protest At Justice Department: Hold Banks Accountable

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PROTESTERS DEMANDING PROSECUTIONS OF WALL STREET ARRESTED OUTSIDE DEPARTMENT OF JUSTICE

FORECLOSE ON BANKS“Initial report from Grace and Vivian of SF ACCE from the Occupation today of the Justice Department demanding that Attorney General Eric Holder jail the banksters:

Between 400 and 500 protesters rallied at the Department of Justice (DOJ), closing Constitution Avenue and the three main entrances to DOJ.  Folks demanded that Attorney General Eric Holder “Jail the Banksters” and “Not to Big to Jail.” Continue reading →

Kathleen Furey v. SEC: Wow, Just Wow!

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Posted by Larry Doyle, SENSE ON CENTS on May 16, 2013

CORRUPTION SOCFor those with an interest in learning how our financial regulators fail to perform in upholding both the law and their duty to protect investors, the SEC is “the gift that keeps on giving.”

As if we did not already know that the SEC has all too often failed to protect investors, let’s navigate and learn about the case of current SEC employee Kathleen Furey. From a recent complaint brought by Ms. Furey against the SEC: Continue reading →

How Soon They Think We Forget…

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Obama bullshit

This quote is actually on the Change.gov Ethic’s page… No, really it is! Maybe President Obama just forgot it was there… ya think?

Obama Nominates Congressman to Lead Mortgage Agency Continue reading →

Theft is Legal for Big Banks – and Your Money Will Never Be Safe

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The new rules for keeping too-big-to-fail alive: use creditor funds, including uninsured deposits, to recapitalize failing banks.

falling_dollar-410x350April 29, 2013  | “[W]ith Cyprus . . . the game itself changed. By raiding the depositors’ accounts, a major central bank has gone where they would not previously have dared. The Rubicon has been crossed.”

—Eric Sprott, Shree Kargutkar, “ Caveat Depositor”

The crossing of the Rubicon into the confiscation of depositor funds was not a one-off emergency measure limited to Cyprus.  Similar “bail-in” policies are now appearing in multiple countries.  (See  Continue reading →

MERS – TOO MANY DEAD DUCKS

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patent_officeWhile fishing for bank-related patents this gem surfaced and jumped into the net.  At first it wasn’t apparent it was a keeper because the UETA issue has not been in the forefront of foreclosure defense. However, taking the time to dissect the document it became apparent that, as some of us have suspected, there is a mandatory methodology from the origination of the mortgage loan on a trip to the securitized trust that includes the EXPLICIT CONSENT of the obligor (homeowner).

Yup… It appears the road to securitization needs an electronic record that the “issuer” aka the “obligor” has explicitly consented to at the time of origination. Yeah, ya think maybe that was the real intention of MERS aka Mortgage Electronic Registration Systems, Inc.? But it looks like it didn’t have all its ducks in a row. This is a lot to digest – but you need to know and understand this information in order to plead your case correctly before the courts. Continue reading →

HAWAII PRO SE PLAINTIFFS BEAT BONY’S MOTION TO DISMISS!

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BONY MOTION DENIEDIn a Second Amended Verified Complaint filed against the Bank of New York Mellon (“BONY”), fka The Bank of New York and U.S. BANK NATIONAL ASSOCIATION, as Trustee for J.P. Morgan Mortgage Acquisition Trust 2006~WMC2 to Quiet Title, Hawaii Pro Se Plaintiffs Melvin Keakaku Amina and Donna Mae Amina won a big round #1 admirably defeating Defendant BONY’s Motion for Summary Judgment. The case, CIVIL NO. 11-00714 JMS/BMK, was originally filed on November 28, 2011 in Hawaii U.S. District Court and heard by the Honorable Judge J. Michael Seabright. Continue reading →

MONEY VAMPIRES, BANKSTER PIRATES AND THEIR OFF SHORE TREASURE CHEST!

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By Shelley Erickson

The Pirate Pilfering!

Wall-Street-PirateBankster piracy is so horrific even though the 50 US attorney generals agreed to let the banks off the hook with a pittance in refunds to homeowners, the fraudclosure money vampires sailed on assaulting and wrongfully seizing our properties.

It was business as usual set out to steal even more properties the exact same way and adding millions more homeowners to their fraudclosure list Continue reading →