It’s getting real. Can you feel the burn? Don’t you love it when someone besides American Homeowners knows the fraud? Yeah, Baby!
MERS Declaration of Wyler & Powers for Congress/FBI/SEC/DOJ investigations
“Mortgage Electronic Registration System Inc. (MERS) is the focus of the research that is the foundation of this Declaration. Renee Wyler and Billie Powers are registered whistleblowers with the Security & Exchange Commission bringing forth the material evidence of their findings and proprietary work.
The Two come forward in peace as protectors of the American (wo)men, The President, The Treasury and US Inc. They seek remedy for all who are touched by the Ponzi Scheme known as the MERS software database.
The Securities and Exchange Commission (SEC) has recently announced it is discontinuing their enforcement program requiring admissions of wrongdoing and the prosecutorial approach they were supposedly taking after the 2008 financial crisis. Steven Peikin, co-director of the SEC’s enforcement division, said the SEC would drop the “broken windows” strategy of pursuing many cases over even the smallest legal violations, and may also pull back from trying to make some companies admit to wrongdoing as a condition of settling with the SEC.”
Remember in 2013, under Mary Jo White’s leadership, the SEC announced it would make companies and individuals admit wrongdoing as a condition of settling civil charges in certain cases. Continue reading
United States District Court, E.D. California.
GENET HABTEMARIAM, Plaintiff,
VIDA CAPITAL GROUP, LLC; US MORTGAGE RESOLUTION; PNC BANK, NATIONAL ASSOCIATION; and DOES 1 to 50, inclusive, Defendants.
February 13, 2017.
Some three years later, PNC notified Plaintiff by mail that its SDOT was discharged, apparently due to a settlement agreement PNC had reached with various agencies of the United States government. PNC effectuated that cancellation by sending a 1099-C form approved by the Internal Revenue Service for cancelling a debt. Plaintiff received the Form 1099-C on or about June 29, 2010. According to Plaintiff, because the 1099-C cancelled the amount she owed on the second mortgage, she believed it legally released her from any further obligation to pay Continue reading
The Bad CHOICE Act
I’m testifying before House Financial Services tomorrow regarding the “CHOICE Act,” the Republican Dodd-Frank alternative. My testimony is here. It’s lengthy, but it doesn’t even cover everything in the CHOICE Act–there are just too many bad provisions, starting with the idea of letting megabanks out of Dodd-Frank’s heightened prudential standards in exchange for more capital, then moving on to a total gutting of consumer financial protection, and ending with a very poorly conceived good bank/bad bank resolution system executed through a new bankruptcy subchapter. The only good thing about the Bad CHOICE Act is that it has little chance of becoming law any time soon.
Excerpt: “The CHOICE Act also has numerous provisions that make it difficult for the SEC to pursue enforcement actions and achieve meaningful relief. These provisions reduce the SEC’s deterrence ability and thereby embolden financial fraudsters whose malfeasance can reverberate throughout the financial system. Among other provisions, the CHOICE Act:
- requires the SEC to make additional findings before levying civil monetary penalties against issuers.24 Thus, while the CHOICE Act increases financial fraud penalties with the one hand,25 with the other it ensures that those penalties will rarely be imposed.
- repeals the SEC’s authority to issue officer and director bans.26 This means that even the worst fraudsters will continue to be able to participate in securities markets.
- eliminates automatic bad actor disqualification from securities law exemptions even for firms that have been convicted of felonies. Apparently a convicted felon cannot be trusted with the right to vote, but can be trusted with pension funds and retirees’ savings. [CHOICE Act § 419]”
WASHINGTON — Bank regulators got a sense Thursday of how their lives will be slightly different now that Elizabeth Warren sits on a Senate committee overseeing their agencies.
At her first Banking, Housing and Urban Affairs Committee hearing, Warren questioned top regulators from the alphabet soup that is the nation’s financial regulatory structure: the FDIC, SEC, OCC, CFPB, CFTC, Fed and Treasury. Read more on Huffington Post. Continue reading
By FLOYD NORRIS
“At what point does this stop?” asked Gary Lynch, the former director of enforcement for the Securities and Exchange Commission who has gone on to jobs with many leading Wall Street firms and is now global general counsel at Bank of America.
He was referring to the escalation in penalties being levied on banks, culminating in the $13 billion JPMorgan Chase was forced to pay for a series of transgressions. Continue reading
Published by VPRO on Nov 4, 2013
The Wall Street Code: a thriller about a genius algorithm builder who dared to stand up against Wall Street. Haim Bodek, aka The Algo Arms Dealer.
From the makers of the much-praised Quants: the Alchemists of Wall Street and Money & Speed: Inside the Black Box. Now the long-awaited final episode of a trilogy in search of the winners and losers of the tech revolution on Wall Street. Could mankind lose control of this increasingly complex system? Continue reading
The New York Times with an insightful review.
WEEK IN REVIEW NOVEMBER 1, 2013 BY ERIC OWLES
[Editors’ note: Please do not read this if you are a junior banker at Goldman Sachs.]
Sit back and enjoy eating your children’s Halloween candy. Looking ahead to next week, we face possible settlements for JPMorgan Chase and Steven Cohen’s hedge fund as well as Twitter’s initial public offering. Continue reading
When a unknown bank named as a Trustee for a securitized trust (usually Deutsche Bank, Bank of NY Mellon, US Bank National, etc.) sends you a letter stating you owe them money and you are in default, the first thing you should do is contact a local title company and have them look for an Assignment of Mortgage under your address or tax key number (it won’t likely be under your name). Chances are the Assignment of Mortgage is fabricated and void; however, this is the breeder document that allows the banksters to foreclose.
The following information will assist you in searching the Securities and Exchange Commission (SEC) for the alleged trust. Continue reading