Every day I see how the deck is stacked against the little guy and how the big banks and institutions are permitted to play by their own rules….rules that they make up as they go along.
It’s way past just disturbing or troubling or worrisome…it’s terrifying. It’s terrifying to me because when they are permitted to get away with all they are doing here at the ground level, I extrapolate that out into the much larger national and international financial, legal and regulatory system and I see catastrophe. I see worldwide economic collapse.
I fight like hell for every single client because their case is a life of death case for them. I fight like hell on every single motion and every single issue because if I don’t beat back the banksters and their attorneys in every single case and on every single issue, they’ll know I’m soft. They’ll know they can start to push me around. But I’m not soft and every bank, every attorney knows that I’m coming to every single hearing prepared, the full file in hand and with every intimate detail of my client’s case right at the forefront of my consciousness. No matter how well I’m prepared, I’m going to lose….sometimes. On some motions, on some issues I should lose. Many times I’ll concede..it’s a matter of professionalism and living to fight another day. But some motions and issues I lose, not often, but when I do, that “loss” is tucked away, carefully documented….and ready to get its own special place in the appeal at the end of the day…..if ever a Final Judgment of Foreclosure is granted.
Now Final Judgments in properly defended cases do not happen all that often….and even the Plaintiffs know that they take one helluva risk to walk a Final Judgment through the minefield…the far more prudent course is to work out a reasonable solution…..a modification, a short sale, a deed in lieu…..it’s just insanity for the banks not to……
But wait, I was diverted….what I really want to talk about is MF Global and the mysterious case of the missing $600 million. Now if I had one dollar in my trust account go missing, the Bar would come swooping down in their black helicopters to take me away to the secret Star Chambers…and if one of you stole twenty dollars from Wal Mart, they’d send you away to the adjustment camps.
So how is it that a well-connected firm can “misplace” $600 million of client money and allow 150,000 customer accounts to be frozen and the con men at the top of the pyramid are still walking around. Oh, right. When the con men are connected, ex Goldman Sachs alumni…
Everyone should understand the details of the stunning collapse of MF Global….but MF isn’t really the story. The story is how (once again) the big boys playing at the grown up table play with other people’s money like it’s confetti….and get away with it. Where is the SEC, FBI, OCC, CFTC, ABC, PDQ or any other letters in the alphabet soup? Right….nowhere.
Which brings me back to my larger unease….
What if any percentage of Americans who are invested in the stock market or who believe in the fantasy of the amount listed on their 401k statement decided they wanted to convert that statement balance into cold, hard cash?
What if any percentage of Americans who had money sitting in a traditional banking account and who believed in the fantasy that all their cash was readily available to them decided they wanted to convert their bank account statement into cold, hard cash?
Right. We all understand the entire financial system would collapse. Because the statements are a lie. Bernie Madoff and Corzine are two bit, small time carnival barkers. The real goons are playing the exact same game, but they’re able to keep the balls in the air….because you and I, the American people are unknowingly propping them up with our work, our industry, our labor. Bernake, Paulson, Geithner, Blankfeld, Dimon. It’s not just that they are all con artists playing a con game…..the entire game is a con.
So what happens when the wheels come off the wagon? What happens when the world realizes that the international banking and indeed the entire world financial system is a fiction?
Nov 8 (Reuters) – The hunt for the missing $600 million in customer money at MF Global Holdings Ltd may begin with Harris Bank, a Chicago-based lender that often holds client money for many large futures brokerage firms.
A Harris Bank branch office in downtown Chicago was the main repository for money from many of MF Global’s 150,000 customers, according to customers and representatives with smaller investment firms that introduced clients to the New York-based brokerage.