Posts Tagged ‘non judicial foreclosure’
Will The Attorney Generals Sell Out The Pension Funds?
Author: Matthew D. Weidner, Esq.
From Abigail Field:
A shocking aspect of the proposed foreclosure fraud settlement among Bailed-Out Banks, the state attorneys general, and the Feds has rightly gotten a lot of attention, namely the Bailed-Out Banks’ ability to use other people’s money to pay their “penalty.” I confess, when I first heard about it, I figured it was a testament to the federal government’s craven capitulation to the Bailed Out Banks. (Let’s call them the B.O.B.s, rhymes with S.O.Bs.) But now I know it’s much worse than that, thanks to excellent reporting by David Dayen. The federal government really wants the B.O.Bs to use pension fund money to pay their “penalty.”
Now, readers know I’m not exactly a Pollyanna, but I feel like one now. See, I thought our federal government understood that the right way to penalize someone with a fine was to actually make them pay the bill. I thought the feds realized the best way to punish the banks was to have them cough up cash into a BP spill-type fund, and have 50 special masters (one per state) use it to pay down mortgages, thereby punishing banks and helping homeowners. I just figured the Feds had rushed things so much, doing essentially no investigation, that they didn’t have the goods to leverage a better deal. But no. The Feds see the banks’ ability to spend firefighters’, teachers’ and cops’ money as a design feature, not a flaw.
EMERGENCY- FLORIDA (un)Fair Foreclosue Act On The Move!
Author: Matthew D. Weidner, Esq.
It looks like the Florida House of Representatives will move on Wednesday, February 8 to hear the Florida (un)Fair Foreclosure Act.
The bill number currently under consideration is Committee Substitute for House Bill 213. Please take the time to read the bill in full here.
PLEASE, PLEASE, PLEASE CLICK HERE AND CALL THESE LEGISLATORS
It is expecially important to call the chairperson Dorothy Hukill and make sure she knows this is a bad, bad bill:
Capitol Office
204 House Office Building
402 South Monroe Street
Tallahassee, FL 32399-1300
Phone: (850) 488-6653
But make sure you hit all the legislators on the committee. They need to know that this bill it toxic and will be very, very controversial. It is still being amended and more bad news is being thrown into this every day. The bottom line is it is a reward to the banksters that caused all this mess, paid for by the little guy.
Among the most disturbing aspects is that it would turn some foreclosures into “show cause” proceedings that could deprive a homeowner of the right to raise defenses and could result in a sale in as little as 90 days!
The bill would require some Defendants to make payments to the pretender lender as a condition of having their voice heard in court.
The bill would apply to all foreclosures currently pending
DO IT CALL THE MEMBERS OF THE COMMITTEE BEFORE WEDNESDAY
Taibbi- Half of Wall Street Could End Up In Jail….
Author: Matthew D. Weidner, Esq.
Well, at least someone gets the full scale of all of this…
“If they do this for real, you could see half the luminaries on Wall Street going to jail.”
AMERIKA IS A CRIME SCENE- DON’T LEAVE YOUR HOME!
Author: Matthew D. Weidner, Esq.
Visit msnbc.com for breaking news, world news, and news about the economy
PLEASE WATCH THIS ENTIRE VIDEO
Eric Holder, Obama and A Government Committed To Serving Banksters- And Abusing Americans
Author: Matthew D. Weidner, Esq.
Good morning. Today, I’m pleased to join with so many key partners – including Director of Enforcement for the U.S. Securities and Exchange Commission, Robert Khuzami; Secretary for the U.S. Department of Housing and Urban Development, Shaun Donovan; (OFFICIALS WHO HAVE ALREADY SHOWN WILLINGNESS TO DO ABSOLUTELY NOTHING) Attorney General for the State of New York, Eric Schneiderman; United States Attorney for the District of Colorado, John Walsh; Assistant Attorney General for the Justice Department’s Civil Division, Tony West; and other critical leaders – in announcing an important step forward in investigating the financial misconduct – and, specifically, misconduct in the market for mortgage-backed securities – that contributed to our nation’s recent economic crisis.
Along with Lanny Breuer, Assistant Attorney General for the Criminal Division (ANOTHER OFFICIAL WHO HAS DONE NOTHING)– who, unfortunately, is traveling today and could not be here – the team standing with me will be leading a new initiative: the Residential Mortgage-Backed Securities Working Group, which will operate as part of the Financial Fraud Enforcement Task Force. This Working Group brings together a variety of federal, state, and local partners – including HUD, the FBI, IRS, Consumer Financial Protection Bureau, Financial Crimes Enforcement Network, and Federal Housing Finance Agency Office of Inspector General. These, and many other, Task Force members have been conducting investigations into the residential mortgage-backed securities market – as well as related aspects of the housing market – for some time. And they’ve seen firsthand how massive failures in this market were a driving force behind the nationwide housing collapse that has had devastating effects for investors, consumers, and entire communities. (THEY’VE ALL SEEN FIRST HAND FOR YEARS BUT HAVE DONE NOTHING)
Beginning with its first full meeting – which will take place immediately after this press conference – the Working Group will streamline and strengthen current and future efforts to identify, investigate, and prosecute instances of wrongdoing in the packaging, selling, and valuing of residential mortgage-backed securities. I am confident that this new effort will improve our ability to ensure justice for victims; help restore faith in our financial markets and institutions; and allow us to answer the call that President Obama issued earlier this week, in his State of the Union address.
On Tuesday night, the President referenced this initiative, asking us to, “hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans.”
That is precisely what we intend to do. And the good news is that we aren’t starting from scratch.
Over the past three years, we have been aggressively investigating the causes of the financial crisis. (AND WHILE DAWDLING ON WITH THESE “INVESTIGATIONS” TIME TO BRING CHARGES IS SLIPPING AWAY) And we have learned that much of the conduct that led to the crisis was – as the President has said – unethical, and, in many instances, extremely reckless. We also have learned that behavior that is unethical or reckless may not necessarily be criminal. (AND AGAIN, THIS IS THE FUNDAMENTAL “OUT” THEY WILL TAKE…THEY WILL INVESTIGATE, SHRUG SHOULDERS THEN WALK AWAY.) When we find evidence of criminal wrongdoing, we bring criminal prosecutions. When we don’t, we endeavor to use other tools available to us – such as civil sanctions – to seek justice. (JUST HOW MUCH MONEY HAVE YOU CLAWED BACK FROM THESE CRIMINALS? NONE…CORRECT) My number one to commitment to the American people is that we will continue to devote significant resources to combating financial fraud and be as aggressive and creative as we can be in holding accountable those who, in violating the law, contributed to the financial crisis. (THIS TOO IS ONE OF THE FATAL FLAWS HERE, STAFFING THIS “BIG” GROUP WITH 55 PEOPLE IS A JOKE, THE S & L INQUIRY HAD MORE THAN 1000)
For example, in just the last six months, the Department has achieved prison sentences of 60, 45, 30, and 20 years in a variety of financial fraud cases charging securities fraud, bank fraud, and investment fraud. And, just last month, I announced the largest fair lending settlement in history, resolving allegations that Countrywide Financial Corporation and its subsidiaries engaged in a widespread pattern or practice of discrimination against minority borrowers from 2004 through 2008. (REALLY CHIEF, WHAT DID THIS DO FOR THE MILLIONS OF AMERICANS THAT ARE SUFFERING FROM COUNTRYWIDE ABUSES?)
With this new Working Group, we will marshal our civil and criminal capabilities to build on these efforts – by focusing on abuses in the residential-mortgage backed securities market. I am pleased to report that this Working Group has considerable Department resources behind it as it builds on activities that have been underway through the broader Task Force.
(I wanted to especially call this next statement out…it shows just how absurd this whole theater is….the few number of people involved show just what a joke this whole thing is…)
Currently, 15 attorneys, investigators, and analysts – here at Main Justice and throughout our U.S. Attorneys’ Offices – are supporting the investigative efforts that this Working Group will be focusing on going forward. And the FBI has assigned 10 agents and analysts to work with the group immediately. In the coming weeks, another 30 attorneys, investigators, and support staff from U.S. Attorneys’ Offices will join the Group’s work.
We are wasting no time in aggressively pursuing any and all leads. THE BIGGEST LIE OF THIS WHOLE THING…IT’S BEEN YEARS NOW AND NOTHING HAS BEEN DONE. In fact, as part our current investigations, the Department recently issued civil subpoenas focusing on issues related to the market for residential mortgage-backed securities to 11 different financial institutions – and you can expect more to follow.
Of course, I can’t go into detail about our existing investigations. But I can tell you that significant efforts are moving forward, by both federal and state authorities. And I can assure you that, if we uncover evidence of fraud or other illegal conduct, we will bring the appropriate criminal or civil charges. (NOT ALL STATES MIND YOU, THIS PLACE CALLED FLORIDA FOR INSTANCE WILL NOT INVESTIGATE, NO MATTER WHAT YOU SAY)
I’m also pleased to report that these teams will be able to hit the ground running. Already, the Working Group’s co-chairs have met to discuss the structure of our investigative efforts, how teams should and will be organized, and how information can be shared more effectively.
With this focus on collaboration – and by bringing our government’s full enforcement resources to bear – I have no doubt that we will improve our ability to recover losses, to prevent fraud, to bring abuses to light, and to hold those who violate the law accountable. That’s what the challenge before us demands. And that’s what the American people deserve.
I want to thank all of our Working Group members for their participation – and their dedication to this effort. And, now, I’d like to turn things over to one of the leaders of this important work – Director Robert Khuzami.
AND THERE YOU HAVE IT FOLKS, NOW MOVE ALONG AND DO NOT PAY ANYMORE ATTENTION HERE
BOMBSHELL- Your Honor, We Don’t Represent The Plaintiff….EXACTLY!
Author: Matthew D. Weidner, Esq.
The following is a transcript from a hearing when I was sitting in a courtroom where a most extraordinary exchange occurred.
The Plaintiff in the case is, “US Bank“. “US Bank” is suing a homeowner, trying to throw them into the street. There is an attorney standing in the courtroom arguing on behalf of “US BANK”….the judge is upset because she’s been trying to figure out who to hold responsible when the Plaintiffs who are foreclosing are ignoring rules of the Florida Supreme Court, abusing homeowners and just generally making a real mess of things and the responses out of the Plaintiff sound like an Abbott and Costello Routine called, “Who’s On First”….
Who owns the note? We don’t own the note, “they” own the note. Who’s “they”? “They” who? The who that owns the note.
And then that’s when this exchange occurs:
“U.S. Bank is not our client. We have no communication with them on this loan.”
Whoa, say what?
“U.S. Bank is not our client. We have no communication with them on this loan.”
WHICH IS PRECISELY WHAT IS WRONG WITH THIS ENTIRE STINKING SYSTEM CALLED THE AMERICAN LEGAL, FINANCIAL AND FORECLOSURE MESS.
A bank, US BANK, is foreclosing, but they are not represented by an attorney. US Bank is the Wizard Behind The Curtain, somewhere there’s someone else calling the shots. Someone else deciding not to accept a modification. Someone else not accepting a short sale. Someone else pulling the strings. To which my friend Rand, quite correctly responds:
MR. PEACOCK: Your Honor, I’m a little bit
troubled because plaintiff’s counsel just said
that the plaintiff — she is not their client or
vice versa. That makes a real representation
issue. If they are not represented by her firm,
she cannot advocate on their behalf, and they
can’t continue this lawsuit.
This is precisely what is wrong with this country. Exactly what what is wrong with what is choking our court system. Exactly why our court system has such problems with what is happening.
Full transcript below:
