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Breuer is sleazy. But remember, he takes his orders from Attorney General Eric Holder and President Barack Obama. This administration refuses to prosecute.
Breuer responds: “we looked very hard at the types of matters that you’re talking about.” He doesn’t deny that there were no investigations; no subpoenas, no document reviews, no wiretaps. Instead, he tries to shift the subject to his pointless insider trading cases, his Ponzi cases, the Lee Farkas case (the mortgage firm Taylor, Whitaker and Bean), and a few hapless mortgage originator cases, and even a policeman defrauded by some fraud or other. Smith won’t let that pass. Eventually we get to the heart of the problem to Breuer:
If you've got a Marshall Watson Fraudclosure Case- Contact me IMMEDIATELY!
HOT OFF THE PRESSES!
(If you have a Marshall Watson case, contact my office IMMEDIATELY!)
The owner of the Fort Lauderdale-based Law Offices of Marshall C. Watson has agreed to plead guilty to offenses found during a Florida Bar investigation in what is believed to be the first disciplinary action taken by the regulatory group against a so-called foreclosure mill.
The consent judgment, which still requires approval by the Florida Supreme Court, would suspend attorney Marshall C. Watson for 91 days _ a move that means the closure of his firm _ and require him to pay $30,000 for a record-keeping analysis, plus $5,931 for the Bar investigation.
All suspensions of 91 days or greater require proof of rehabilitation and approval of the Florida Supreme Court before a lawyer may be reinstated to the practice of law.
Signed in December, the agreement accuses Watson of failing to develop foreclosure policies for firm employees and includes charges that the firm routinely filed court documents alleging a mortgage note was lost without confirming that its clients had in fact lost the note.
The head of one of Florida’s well-known so-called foreclosure mill law firms has agreed to state bar discipline that will require him to close down his law office.
Marshall C. Watson has also agreed to a 91-day suspension, which will require approval by the state supreme court before he can be readmitted to practice, the Palm Beach Post’s Real Time blog reports.
The consent judgment, which must be approved by the state supreme court before it takes effect, says Marshall did not properly supervise his law firm employees and failed “to develop, implement and maintain acceptable policies and operating practices for his firm,” the newspaper reports.
See that image up there….it’s Themis, the pictoral symbol of our nation’s legal system. She sits out in front of many courtrooms and her image is plastered all about courtrooms and papers all across this nation. Now, conceptually at least our nation does not have two legal or judicial systems. Themis does not stare down only in “major” cases or “real” cases. She does not sit only in felony trial courtrooms…leaving misdemeanor courtrooms to some other God, some other standard. She is not absent from small claims or family law courtrooms, cedeing those courtrooms to some inferior Goddess….
At least in theory.
But what we see, all across this country, is a judicial system all too willing to quickly cede the high ground of a judicial system that was thousands of the years in the making for the political and economic expediency of criminal enterprises commonly known as, “The Banks”. The Banks committed crimes. Forgery, fraud, perjury and worse. But rather than be held to account, they have gotten away with their crime spree. And in so many areas not only do we have a judicial system that fails to hold them accountable, we have a judicial system that is failing to fulfill its sacred duties.
When we have judges who are intently focused on “moving these cases along” or “clearing the docket”, we risk losing our justice system. We risk trading it for some grossly out of control administrative process goverened not by law but by numbers on an excel spreadsheet. For those that think, “It’s only foreclosure” and “What difference does it make, they haven’t paid their mortgage!”, I ask you to consider,
“What happens to our court system when the next crisis comes along? What happens when there is a family law crisis or a crisis involving or nation’s military or criminal justice system? Remember, conceptually at least, our nation has only one justice system. And if we are all so willing to stand aside and toss this system into the dustbin of history just to fulfill some perceived short term necessity, what will happen the next time there is some real crisis or tragedy?”
I’m proud to say I practice in an area of this state that does not suffer from these failings. The citizens and voters here in West Central Florida should be quite proud and supportive of the good judges who preside over courtrooms and cases with exactly the same standard of care, strict adherence to laws and rules and eyes and minds firmly focused on the essential principals embodied in the very real symbology of Themis. Our area, with good and dedicated Officers of The Court….Bank Attorneys, Defense Attorneys, Judges and Staff..are working through this, “crisis” in a way that strengthens our communities, forges compromise and resolution but most importantly it protects and strengthens our area’s legal system….
And now for the other side of the story:
(But before you read the story, there’s one aspect that after reflection, I believe deserves commentary. Who are the proponents and antagonists in this story? Note that there are no representatives from the banks or from Fannie Mae or Freddie Mac or the Wizards that all of this is being done on behalf of. Instead, we have…on one side of a debate the dedicated advocates for homeowners and consumers…and on the other side, court officials who have adopted very adamant and strident positions that advocate policies that can only be read to be quite opposed to those interests of the consumers, citizens, the litigants against whom the awesome power of our nation’s court system is being directed.. Keep that in mind as you read the story….)
Florida’s foreclosure courts have made almost no progress in clearing an overwhelming backlog of cases from their dockets despite a $4 million stipend awarded by lawmakers this year.
As of Oct. 31, there were 377,272 pending foreclosures in Florida’s 20 circuit courts, a net reduction of just 435 cases since the money became available in July, according to the state courts administrator.
Judges say new foreclosure filings have nearly outpaced the number of cases they’ve been able to close as banks work on clearing defaulted loans on hold since the robo-signing freezes and pending the National Mortgage settlement, which was finalized in March.
While the $4 million has helped courts statewide close 69,513 cases in four months, 69,078 new cases were added during the same time period.
“Obviously, we hoped to make a bigger dent, but it seems like we’re just treading water at this point,” said Palm Beach County Chief Judge Peter Blanc, who has 32,434 pending foreclosure cases in the 15th Circuit. “I’m disappointed in the numbers, but the reason for them is pretty clear.”
Wow….this is interesting…
A New York federal judge may rule imminently on a case that could reverse the General Motors (GM) bailout and send the company back into bankruptcy, according to sources close to the case.
At issue is a backroom deal hatched by GM to fulfill the Obama administration’s demand for a quick bankruptcy, draining the automaker of nearly all of its cash on hand and leaving it in worse shape than it was when it collapsed in 2009.
One condition of GM’s bailout was to shore up its overseas subsidiaries. On the eve of entering bankruptcy, the company cut a $367 million “lock-up agreement” with several major hedge funds to prevent GM Canada from failing. The agreement ensured that GM could spin-off its liabilities to “old GM,” while using a multi-billion dollar bailout to create a new company.
All of that could be reversed if bankruptcy Judge Robert Gerber reopens the process and rules in favor of old GM trustees, who are suing the hedge funds at the center of the lockout agreement.
“In this particular situation, there’s $1.3 billion in liabilities, but that’s just what’s officially back on the table if the court rules for old GM,” said a bankruptcy expert close to the negotiations. “If those go back on the table then everything could be back on the table and [new GM] would have to address them.”
The Massive Screw Job That Is The GMAC Bankruptcy…and the Billions of Dollars that taxpayers are being gouged….WILL IT EVER STOP?
From Naked Capitalism:
Every time it appears that the OCC foreclosure reviews have hit bottom they sink further into the morass. Our latest example comes from a petition GMAC/ResCap filed as part of their bankruptcy. This example shows how banks are spending simply staggering, implausible amounts of money on foreclosure “reviews”, and how keen they are to enrich anyone other than wronged borrowers. Given that some of these foreclosure reviewers are also in the business of “scrubbing” loan files and creating (as in fabricating) allonges, you have to wonder whether the amount of money being spent is not on review but also “remediation” and is being bundled in with the review costs. Think of the twofer: you get to call your chicanery something else, and blame the cost on the banks’ favorite scapegoat, those big meanie regulators.
This information comes from a petition GMAC/ResCap filed as part of their bankruptcy and exposes the multiple and pricey roles being played by PriceWaterhouseCoopers (hat tip friend, colleague, and foreclosure defense super lawyer Matt Weidner).