Dimon Threatens Obama: Investigate and Lose Settlement


COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary CLICK HERE TO GET COMBO TITLE AND SECURITIZATION REPORT

Editor’s Comment: If there was any doubt in your mind about who thinks they run the government, it was dispelled yesterday when Reuters reported that Jamie Dimon, CEO of JPMorgan Chase warned Obama that if the new investigation team actually does anything, there won’t be any settlement.

The sheer arrogance of a possible criminal demanding that the government stop investigating him or else the too big too fail bank won’t participate in settlement talks is unfathomable. It demands a response from Obama and it demands a re-thinking at the White House about its relationships with the big banks.

The real investigations are just getting started, with considerable support from already published instances of robo-signing, surrogate signing, forgery, fabrication and fraud in the foreclosure process.

Dimon reacted because of one major risk: the entire securitization scheme will be revealed as a scam from beginning to end. This would mean that the banks would have enormous liability to virtually all MBS investors, enormous tax liability for the REMICs and potentially to the investors, and enormous liability to homeowners who were duped into thinking that they had been through conventional loan underwriting when in fact it was jsut a marketing scheme to justify the movement of money.

As stated on these pages before, the result will be

  • (1) that investors, as creditors in these transactions are owed 100 cents on the dollar not by the homeowners, but by the Banks, who took investor money and either didn’t invest it all in loans, or invested in loans that they knew ( and were betting on) would fail
  • (2) that potentially trillions of dollars in unreported income went untaxed amounting more than any bailout
  • (3) that the mortgage documentation was so defective as to defy reformation or correction, leaving the loans unsecured and possibly non-existent and
  • (4) that the homeowners who have been foreclosed and dispossessed still own their properties with an unclear debt or obligation that is unsecured.

Dimon is trying to block reality from entering into the picture. Selling the loans multiple times through exotic instruments that looked like hedge products has its consequences. It leaves the creditor or its agents filled with money obtained through multiple payments on the same debt. All this seems counter-intuitive, I know. And it sure puts a crimp on the foreclosure plan that takes homes to satisfy a debt that has already been satisfied multiple times.

Beyond that, it provides a blueprint for correcting the corruption of the title registries across the country. Once the loans are shown to be defective beyond recognition, and once securitization is shown to be a word and a plan that was never actually executed, the whole thing boils down to one simple fact: there were loans but there were no mortgages. Papers was signed that meant nothing, disclosed nothing and violated every industry practice in place for hundreds of years.

There is no greater fiscal stimulus to the economy than returning ill-gotten gains to the investors and homeowners who were victims of this scheme. It will save pensions and allow people to recover the wealth that was siphoned out of the economy instead of the job Wall Street was meant to fulfill — pumping liquidity into the economy for expansion, innovation and prosperity. The answer is right there in front of us. The Banks have attempted to place false ideology in front of the requirements of law. The only question is whether the government will let that happen.

See Full Story on Reuters

JPMorgan Chase & Co Chief Executive Jamie Dimon said President Barack Obama’s decision to expand investigations into home lending and sales of mortgage securities could stop settlement talks with the states over foreclosure practices.

“It has a pretty good chance of derailing it,” Dimon said in a televised interview with CNBC from Davos, Switzerland on Thursday.

Obama, in his State of the Union address Tuesday, said he has asked his attorney general to create a special unit of prosecutors to expand investigations into home lending and packaging of mortgage-backed securities. It is not clear how the new unit will be different from earlier investigations.

JPMorgan is the largest U.S. bank and one of the larger servicers of mortgage loans. JPMorgan, Bank of America, Wells Fargo & Co, Citigroup and Ally Financial Inc have been in talks with state attorneys general for months about settling allegations of foreclosure abuses.

The banks and states have been discussing a plan that would have the banks pay $25 billion to homeowners through reductions in principal on mortgage loans.

“I think it would be better for America if that settlement took place,” Dimon said. “If this thing derails that, so be it.”

(Reporting by David Henry; editing by John Wallace)


96 Responses

  1. thanks for that, Nora. right on point.

  2. @ Abby

    I need you. New Century/Ocwen issues. Many say you are the gal, that can assist me, if you would.

  3. yep

  4. Schneiderman has no more objections to the multi-state foreclosure settlement (friday nite)

    ALBANY, N.Y. (WTW) — New York Attorney General Eric Schneiderman says one of his major objections has been resolved in a proposed settlement between U.S. states and the nation’s biggest mortgage lenders over deceptive foreclosure practices.

    Schneiderman, named Friday to help lead a nationwide probe of wrongdoing in the mortgage-backed securities market, says his issue with the multistate settlement was that it shouldn’t interfere with a comprehensive investigation.

    He says he’s confident those liability releases for the banks have been “narrowed.”


  5. Here’s the thing: Never underestimate the power of one. Your lucid voice (via text of course) is a barometer of public sentiment. They monitor these forums for that reason; “how much opposition do we really have amongst the peons we’ve infected, injected and force fed GMO’s to?” Apparently a lot.

    We are brave and passionate, whether we spit in their eye and say we are Nora Claypool or Fred Flintstone, our voices truly make a difference. Resistance is how we defeat them since the truth has an infectious quality that grabs the ear of those who hear it, recognize it, pass it on. If you have children to protect, use a screename, but let your voice be added!

    They track us through our IP addresses, credit card purchases, red light cameras, cell phones, both wired and wireless surveillance, GPS tracking devices…ad infinitum. When they’re ready to shut me up, I will be ready to shoot until I’m out of ammo. The evil’s gotta go.

    Our timidity and non-aggressive response to their tyranny and bravado is exactly why they have gotten as far as they have. If you want to conquer a foe, make sure he can’t shoot back. Based on the number of guns sold here in the U.S. in December 2011, I would say I’m not the only one who is gonna shoot the bastards if the situation arises where it’s kill or be killed. I’m not hunting them down, that’s falling to their level of depravity. Defense is my duty against enemies foreign or domestic, or just plain whacko. If you’re an enemy reading this, I’m a farm kid, and a damn good shot. So are forty of my close neighbors, who know me, but are suspicious of YOU.

    The Second Coming is my backup plan.

  6. @USED

    “They can’t sue you if it’s the truth, can they?”

    If you have somehow gotten into an unimited non-disparagement–yes they can sue you for telling the inconvenient truth.

    And also something that is confidential.

    This is where public policy gets ripped apart–where the 1st amendment gets beaten down—-where even the raising of issues in a suit can get you sued under a non-disparagement provision.

    Thats where the 4th amendment and right to seek redress of greivances is thrown overboard–broad issues of public policy involved. A fellow I worked with years ago used to say “there must be a martyr for every cause” —i suppose that martyr should be someone already dying.

  7. Hey, if I win, do they pay to get me scrubbed from…the universe?
    They can’t sue you if it’s the truth, can they?
    Maybe I’ll go away for awhile.
    I got an e-mail that started out in red letters, all caps, that said
    “This is not an automated response.”

    And, yes, dip shit, they can always find you.

    I think I’m done here.
    Thanks Neil.

  8. @Nora,

    Reminds me of my grandma. Eventually (and it took a few years) she was diagnosed with organic dementia of the Alzheimer’s type. If you look at the behavior, it goes up and down and up and down without rhyme nor reason. Probably the same thing…

  9. DCB,

    I like dogs AND people…except for you dipshit. Go blind some other forum with your brilliance!

  10. I have no pony in this race, but I’ll just bet any government agency can find out who any of us are? So, let them go at it. It doesn’t change the truth.

    Quite frankly, I am surprised this site hasn’t been blocked or shut down.

    My $.02

  11. I think confidentiality is overrated. I’ve plastered my name all over the free world fighting this battle. I was never embarrassed, only suspect of the enemy I faced. Now, I don’t care anymore. This is good versus evil, right vs. wrong, and if you don’t have the balls to put your name on this blog, you shouldn’t be shooting your mouth off.
    Enough said.

  12. @Enraged at 1:41

    LOL! dunno who shit in his wheaties, but ignore him. He likes to say nasty things about people he doesn’t know and that kinda craps on his credibility. (knuckle bump, sister!)

  13. PHUCK YOU Jamie Dimon. Come on down to Tampa and threaten me you rat bastard!

    “Fight The Good Fight”
    Every Minute, Every Day


  14. “The more I know about people, the better I like my dog.” – Mark Twain

  15. I rest my case… Lots of loose canons in the world.

  16. thankyou for your answer—–federal questions it appears confer jurisdiction

  17. @ DCB

    “is the atty a defendant? do you live in different states? why did you file in fed ct?–how does it compare in cost do you think?”

    I say yes, he is the Defendant, made himself that. In some way he is saying he is injured, as he has a loss. BS…he assigned himself trustee under the guise of his own company. We both live in NC. I filed in Federal Court for the Fraudulent Conveyance and Cloud on Title, as it is my understanding the District Court only deals with Quiet Title issues. Federal Court here only deals with “tainted” title issues and damages from TILA, RESPA, RICO Statutes, etc…the Quiet title is not the place you can get that heard. The Federal Court is tantamount to a judicial foreclosure, more evidence is required by the Defendant to prove authority. The cost is more, however, there are some lawyers who will allow you to pay as you go, which helps you in the extended time frame, so you can accumulate monies. The Federal Case is lengthy.In my personal opinion, much more comprehensive, most all of your case can be heard, the judges are generally more sophisticated and discovery is tantamount, where this is very difficult to get in a District Court setting. You can also get damages, where they are unlikely/not allowed in District Court with a quiet title action.

    My $.02


    Supposedly you are an ex-AIG employee who does work for somebody in this sector and have ties to Ohio—–20 years with AIG —proud of your investigative skills—-and you want us to believe that you are carefully concealing your identity????

    BS——you are arrogant—–you are a foreignor—–where’s home India?

    You sure sound and act like a collection agency agent.

    I feel dirty just responding to you. I will not directly respond hereafter—i may warn people —so I guess its time for you to assume another identity—-i have noted that the worst liars are the boldest–it fits you to a “T”——-you jumped on me to demand MY DISCLOSURE OF IDENTITY but conceal yours—people look out for this mole in this and other guises

  19. @CHRIS

    So here is the trap. at some point the court presses as it usually does that the parties try to reach a settlement.

    Now the general business rule for good faith negotiations is that the “negotiations” are confidential. Corporations in big deals or resolving big conflicts dont like to see the counteroffers and offers on the front page of the newspaper before they start next day’s negotiations. That is the reason for confidential settlement negotiations. Is there a valid reason for that sort of treatment in context of one of millions of such neotiations over a few thousands–is any newspaper going to be so engrossed in your case they will do stories on it–no. its not unique–its common–its not news.

    so why do collection agencies attemt to impose confidentiality in discussions of settlement? Well for one thing they can insert patently and blatantly overreaching demands w/o public scrutiny—-you cant even complain at dinner to your kids–why they are being thrown out–why they cant go to school at their school next term–why you cant vote next election. you cant warn your neighbor what to look out for after the doors close on you.

    It also invites subbornation of perjury. Your atty chats with opposing counsel. Next thing you know the opposition files a motion to compel settlement. You say “what settlement”-“I never agreed to a settlement”

    Answer “Your attorney [in the closed door session] agreed that YOU would do this or that. Say for example your attorney SUPPOSEDLY agreed that you will vacate tomorrow in exchange for $1800 as is contemplated by the AG settlement. Then the court ORDERS you to vacate the house–or pay money—or throw your wife into the street without prior notice—anything that the collection agency said was agreed by your atty

    . The collection agency then subpoenas YOUR attorney to testify about this behind closed door supposed agreement. Now your attorney is mildly impaired—who is representing you while your atty is testifying?–what if the attorney actuall states he did agree–verbally–nothing in writing?.

    Now all of this is spooky stuff—–so opposing counsel asserts in the accompanying memo soething like—the subject matter of the verbal agreement by the sucker’s atty is covered by the confidentiality agreement re the settlement negotiations–so all these other things about him saying this or that behind closed doors is also confidential and the contents behind the motion to enforce a supposed settlement is also SECRET. FURTHERMORE as part of the supposed agreement your atty supposedly agreed that you would not DISPARAGE the poor collection agency.

    Then the whole record of the overreaching is secret–all stemming from the original supposedly benign negotiations confidentiality.

    Then the settlement as enforced is secret–not shown on ct records–sealed

    then if the deal was say your atty supposedly agreed that you would vacate tonite in exchange for that $1800 payable in 90 days–because it takes time to process the check——

    in meantime the collection agency says Gee–Iv already got the house lock stock and barrel—–so im in no hurry to actually pay the $1800——-and dont meet the promised delivery of the check—-no reasons–just dont do it

    now you sue saying you have been cheated–breach of contract maybe tort on top–now you cant diclose the settlement agreement that your atty supposedly agreed because its a secret—–so just stating that they breached the non-disparagement part of the agreement ????

    This is indeed how far this can go……..1st amendment destroyed–due process destroyed–how do you investigate anything in this straightjacket?—on your tiptoes—on thin ice–you have to secretize everything having to do with the antics of the collection agency—and you have no right to complain about secrecy–only the press does and you cant tell them why they should care—-

    think long and hard –never agree to anything secret–never


  20. @DCB,

    You’re really paranoid to the core, buddy. I don’t know what was done to you but the result ain’t pretty!

    Nope, I ain’t gona post my name. Not until my case is resolved. I’m not stupid and I won’t jeopardize anything simply because DCB is frustrated and can’t control himself.

    Also, “Confirm what I wrote please” isn’t some kind of a code or anything like that, dummy, and it certainly doesn’t mean to be intimidating. All I was asking Chris to do is to refute if what I had written was not correct.

    Holy S*^#! Have you considered therapy lately or has your case been declared too hopeless for that?

  21. @DCB, What was that?

    “Now tell me how ignorant and backward I am one more time—since its Saturday–the collection agency hasnt been able to beat on me today–so its your turn—come on earn your money you piece of S….”

    Some kind of a flare up or something?

  22. Hey Harry! I got Wells to step on another land mine I threw at them in a BK filing. Too funny! Those high-priced lawyers are not as smart as they think they are.

  23. voluntary dismissal came from the attorney for the servicer. Looks like foreclosure mill, dubious behavior. He filed a motion in District Court for a hearing to foreclose on the property, all while we are in the discovery part of my action in Federal Court of Quiet Title, Fruadulent Conveyance, Cloud on Title

    is the atty a defendant? do you live in different states? why did you file in fed ct?–how does it compare in cost do you think?

  24. guy should be disbarred

    has he filed diciplinary complaint?

  25. @ DCB

    The voluntary dismissal came from the attorney for the servicer. Looks like foreclosure mill, dubious behavior. He filed a motion in District Court for a hearing to foreclose on the property, all while we are in the discovery part of my action in Federal Court of Quiet Title, Fruadulent Conveyance, Cloud on Title…which includes RESPA, RICO, TILA, etc…

    He is in fact self-assigned as the trustee, assigned himself-his company (1 owner, him) as the substitute trustee and his agents/employees are working as employees for the servicer and the law firm, while the notary is an employee of the firm.

    Lawyer looked at it and said “this fu@kin” guy should be disbarred. BTW: this attorney never uses expletives, ever. He is the one who pulled the documents from the Secretary of State on this lawyer.

  26. Bloomberg
    Proposed Mortgage Deal Said to Be Limited to Foreclosures

    Lorraine Woellert, ©2012 Bloomberg News

    Saturday, January 28, 2012

    (Updates with exclusions starting in third paragraph.)

    Jan. 27 (Bloomberg) — A proposed multistate settlement to resolve probes of flawed foreclosure practices won’t release banks from criminal liability, according to a person briefed on the talks.

    Any final agreement will be narrowly focused to release banks from claims related only to documentation errors and other so-called robo-signing conduct, said the person, who declined to be identified because the talks are ongoing.

    U.S. regulators including the Federal Deposit Insurance Corp., Federal Reserve, Securities and Exchange Commission, Consumer Financial Protection Bureau and Department of Housing and Urban Development would be free to pursue cases related to securities fraud, loan origination and other practices, the person said.

    Banks wouldn’t be released from tax or fair-lending claims. They also wouldn’t be freed from liability related to Merscorp Inc., a registry for real estate deeds and liens that acts as a proxy for banks that pool and sell mortgages.

    Claims by state pension funds, including those related to their purchases of mortgage-backed securities, also wouldn’t be affected by a final settlement, the person said.

    Streamline Investigations

    In a separate announcement today, U.S. Attorney General Eric Holder said a new multiagency mortgage unit will help streamline investigations into mortgage-backed securities and the subprime lending collapse.

    Federal regulators and attorneys general from all 50 states have been investigating foreclosure practices for more than a year after the discovery that banks, faced with a flood of loan defaults, used flawed documents in seizing homes.

    Attorneys general disagree over the scope of a final accord, which could be worth $25 billion in aid to homeowners if all states join in. Yesterday, California Attorney General Kamala Harris called the latest proposal “inadequate.”

    Banks have used the robo-signing talks to push for a broader release of liability, including protection from claims related to the sale of mortgage-backed securities to investors including pension funds.

    Under the draft agreement still being negotiated, banks would get credit for helping borrowers refinance into less- expensive loans and forgiving mortgage debt on homes that have fallen in value. Banks also would agree to improve their foreclosure practices.

    Iowa Attorney General Tom Miller said in October that the settlement, under negotiation for since April, wouldn’t prevent state and local officials from pursuing other claims, including those related to packaging mortgages securities.

    Harris and others, including New York Attorney General Eric Schneiderman, are conducting their own investigations into bank practices related to mortgage lending and securitization.

    The nation’s largest mortgage lenders and servicers, including Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc., Wells Fargo & Co. and Ally Financial Inc., are participating in the negotiations.

    –With assistance from David McLaughlin in New York. Editors: Gregory Mott, Maura Reynolds

    To contact the reporter on this story: Lorraine Woellert in Washington at lwoellert@bloomberg.net

    To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net

    Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/01/27/bloomberg_articlesLYGVL007SXKX01-LYH04.DTL#ixzz1kmcoPQRl

  27. @enraged
    Come on post your real name so I can find you and depose you–if you are clean you have no problem–if you are the piece of S… mole i think you are—then you wont and well all know

  28. “@chris, By the way, confirm what I wrote please”

    This post is an example of a misleading effort to intimidate you Chris–beware of them putting words in your mouth.

  29. @ALL

    This site is loaded up with moles–people who spend lots of time saying little of substance. They incite–they suck up your time following their BS———they solicit your statements which they can then use against you in court–think of slander–lible–disparagement–breach of confidentiality.

    when they make statements–use opaque names—but never answer questions about their own cases–always evasive—ditracting–you probably can home in on them–they will tell you —and me that you and i are paranoid—its not—they are paid to go out and tie you in knots—

    remember the title of the site LIVING LIES

    not to say that all are that way–but watch out–test them–trust nobody

  30. @ENRAGED
    “They literally smoke the entire house within 6 months and it kills them to know that it is raising their bottom line so much, they won’t recover a dime!”

    Yes that is true–but what you are not taking into consideration is that the collection agency with collection rights is building up its offset against proceeds that might be received upon eventual liquidation of the “collection rights”.

    The agency wants to be able to make a sweetheart sale to an entity under common control–or at least a buddy of the property manager calling the shots for the collection agency. THEY DO NOT WANT RESIDUAL paymnents to investors–that requires an acctg—–if they book a fat loss on the sale vs collections–they get less scrutiny—again what we are really seeing here is a continuation of the investor fraud——but its so subtle and hard to prove—that it virtually requires govt threat of jail to get the lower level guys to testify.

    the interaction of original loan brokers, property managers, preservers, and flippers is paramount—-let em flip and then put the criminal spotlight on em –the investigations have retained that area of jurisdiction.

    Now tell me how ignorant and backward I am one more time—since its Saturday–the collection agency hasnt been able to beat on me today–so its your turn—come on earn your money you piece of S….



    Any final agreement will be narrowly focused to release banks from claims related only to documentation errors and other so-called robo-signing conduct, said the person, who declined to be identified because the talks are ongoing.


  32. @ Chris
    “got a voluntary dismissal, w/o/ prejudice, which means they could try another tactic and I am ready”

    Whose action was dismissed “voluntarily” —-you said you were doing a pre-emptive action—??? did you dismiss your complaint–or did they in fact file an action in foreclosure and collection on note 1st?

    I have some insights into where they might come back at you eventually–but your procedural standing is important???

  33. @chris,

    By the way, confirm what I wrote please. When you filed, what kind of law firm did they retain to defend themselves? A foreclosure mill (I doubt it…) or a very serious and expensive lawfirm?

    The thing is: banks believe (naively) that the best attorneys are in the most expensive lawfirms. This is far from the truth. So, when you attack a bank in court, their knee jerk reaction is to hire the most expensive lawyers in town, guys who cost them $600, $700 and hour (and sometimes as much as $1200!!!)

    They literally smoke the entire house within 6 months and it kills them to know that it is raising their bottom line so much, they won’t recover a dime!

    But that’s ok. Won’t stop Dimon from getting $20 million again this year… for a job so well done!

  34. @chris,

    That’s the attitude! When a number largfe anough of us gets it and starts attacking, watch out!

  35. @ Enraged comments:

    The originator/phony-baloney lender, is what I believe she is speaking of.

    I too, have learned being in a offensive position is far better than a defensive one. My filings include breach of-contract missing/unapplied payments, inflated interest and fees, forced placed insurance with an escrow waiver in place and never lapsed, etc…then here comes the Federal Suit of Fraudulent Conveyance and Cloud on Title, trying to keep them busy. So far, filed a Lis Pendens, Injunction and restraining order and got a voluntary dismissal, w/o/ prejudice, which means they could try another tactic and I am ready.

    For me, this is a lot for a laymen, but so far I am keeping them spending and aware the fight has just begun. I am certainly not as sophisticated in the wranglings of trusts and such, but I can tell you, when they meet me face-to-face, they will know, this will continue as long as I have breath in me. Before it is all said and done, I may end up arrested. I hope if you folks are around for that, someone here can get a media outlet to spread the word! I have the documents to evidence what has happened, in black and white. Irrefutable!

  36. You are so right but the damn courts are still way behind and when presented the evidence refuse to take it. I have to move because the judges,fbi sec, sheriff and police wont do their job.

  37. @DCB,

    I don’t shoot from the hip. I learned from the very best, working for them for 20 years. Why do you think I investigated everything?
    The house means nothing. The implications are everything.

    Banks held out bonuses before our noses while we couldn’t fight. And we thought we had to swallow and absorbe them.

    No way. My tax money. My actual damages. Greenberg taught me everything I ever needed to know. The tide is turning (as I predicted it would. Hence my filing first). They went for the jugular and nearly destroyed America. I’m going for that same jugular. I learned from the best.

    And my accounting is still a tad below. Doesn’t matter. When people start looking at real damages, the banks are gone. I’m not out for Dimon’s $20M bonus: I wouldn’t know what to do with it. I want the restoration of my dream, at the level I was at when it was stolen.

    See why I don’t suscribe to paranoia? We were taught very well over the past 30 years. Up to us to claim it.

  38. @chas404,

    The only way to get near what your actual damages really are is by adding a count of negligence to whatever claim for statutory damages you have.

    Negligence? You bet. Negligent accounting. Negligent training. Negligent hiring. Negligent supervision. Think of how many “servicers” employees you dealt with in person and over the phone, each one more inept than the other, each one promising more than the other, each one leading you on and on and on. You have names, right? How many different people did you talk to? Over how many months? How many years?

    If you’re really vicious (and I was brought there by my own ordeal), you add mail fraud. How many different states did whatever communications you received from your servicer come from? What about the phone calls you received and made? How many different area codes? Did you keep envelopes?

    Chas, it is very, very big. Anywhere you look at, it is big. It was huge from the banks standpoint. Hence the bonuses. When homeowners wake up, they’ll see how huge it really is.

    Fight for it. It is yours.

  39. AIG taught me all about it for 20 years and I’ll stick with it.

    ok i got it now—–but gee that advice is shockingly accurate—its not generated bs——-the health effect is very real—-and what you said is very much understated actually—–

  40. @Chas404,

    My point exactly. Reread what you wrote: you are being held hostage. You speak about 1, 2 years before you can move on.s of freedom.

    Think about it that way: 2 years, times 365 daqys, equals 730 days
    If you’re like me, you thing about it day and night. You can’t function. You can’t have a family life. It’s on your mind all the time. You can’t even have decent sex! (Don’t blush. It’s part of any claim for damages. Damages impact your entire life). Actually, your spouse has a loss of consortium claim as well. He/she hasn’t been able to enjoy your company since that ordeal began. How many hours? At what rate?

    Anyway… 730 days, times 24 (hours) equals 17,520 hours

    How much does your employer pays you per hour? That’s your value when courts calculate damages. Multiply it. Then, add your spouse’s loss of consortium. And your kids’ loss of consortium. (Yes, your kids. You’re the parent but you couldn’t parent during the ordeal).

    Does that amount to a few millions?

    That, my friend, is how bankers bonuses are calculated. That’s how insurance companies calculate direct (medical bills and repair bills) and indirect (disability, loss of function, loss of enjoyment of life, loss of consortium) damages.

    It’s a science. AIG taught me all about it for 20 years and I’ll stick with it. That’s how they calculate insurance premiums. A real science.

    I learned from the pros.

    Get out of that small mentality. Remember, we’re dealing with trillions and gazillions and what not. There is a science behind it.

  41. Enraged,

    Thanks for commentary. Helps us newbies better map things out. I came to realization that staying in the house is only way to ‘win’ but i agree that being in limbo I dont think is so great psychologically. Hard to move on. I plan to stay a year or so if I can and try to put something together to move on and get this behind me.

    I like idea of attacking bec I dont think big banks are set up for it. They are barely set up to foreclose let alone defend. I think you are attacking them at their weakest point. Good luck!



  43. Oh but what a tangled web we weave when first we practice to deceive.

  44. The HP—seems to neglect the part about giving loans to flippers–thats how you know its REALLY bad

    OBAMA ADMINISTRATION WANTS TO UNSUCK HAMP – Loren Berlin: “The federal government is taking another stab at helping struggling homeowners keep their homes by expanding its failed loan modification program. Many in the housing community said they think it’s too little too late. Under new guidelines for the Home Affordable Modification Program, more borrowers will be eligible. The government will also encourage mortgage companies to forgive chunks of the debt borrowers owe, according to a statement Friday by the Treasury Department and the Department of Housing and Urban Development. Yet the program remains voluntary both for banks and for mortgage finance giants Fannie Mae and Freddie Mac. Without compelling these institutions to act, the program is likely to remain impotent, most observers said. ‘I view this as nothing more than election-year grandstanding, an attempt by the [Obama] administration to look like it’s doing something to help homeowners,’ said Melissa Huelsman, a private attorney who has represented homeowners for more than a decade.” [HuffPost] For an angrier take: Naked Capitalism

    Don’t be bashful: Send tips/stories/photos/events/fundraisers/job movement/juicy miscellanea to huffposthill@huffingtonpost.com. Follow us on Twitter – @HuffPostHill

  45. @DCB,

    The way I read it, Dimon belongs to Class A (representing the BANKS). Have you noticed that he speaks on their behalf?

    And I agree with tnharry: his statement is only a statement of fact. If government wants to go after the banks, the settlement doesn’t have any reason to be anymore. There is no threat in there. Banks would be pretty stupid to threaten anyone with anything at this juncture.

    I can’t stand Dimon and his yearly bonuses. I can’t stand what the banks have done to us. But I think they’re as much at a loss to find a fix for it as anyone else.

  46. @Chas404,

    When I mention “lender”, I mean the mortgage broker/lender on my closing papers, the guy who had pursued me for 2 years, trying to get me to refinance. That lender is also the title company. Different corp. but same CEO and officers.

    That lender subsequently “assigned” the debt to a servicer whom I paid for about a year. Then, that servicer transferred it to another one (recording missing in the county recorder’s office, of course) and that’s when I started really having problems. They lost my payments. They charged me late fees when they shouldn’t have. They refused to modify me because I wasn’t behind (!?), etc. etc. You know the drill. I spent 2 years on the phone and at their branch, talking to people in 6 different states plus Panama and some island I forgot. I had to get the AG to intervene (he did nothing), I got BBB involved (helped a little but not much).

    Anyway, they really got me pissed. Very, very pissed. I asked them (RRR) to show me the note. No answer. I QWR’d the hell out of them via RRR. Ignored. I consulted with an attorney and I told him I wanted to attack and I was stopping all payments, which I did. We reviewed all the accounting, the exotic fees listed nowhere on the recap of fees they were allowed to charge (you know, those “corporate fees”, and “misc. fees”). My payments had been going into a “suspense” account. A nightmare. I finally attacked in federal court on Respa, Tila, Fdcpa, Cspa, etc. Plus a claim of negligence for good measure since that’s where most of the damages are… The rest is peanuts: statutory $1,000 here, $5,000 there, you can’t really score with that.

    They haven’t received one payment from me for about 2 years but they haven’t countered. Tells me what I need to know: they don’t have the note. I pay my attorney monthly, much less than what my mortgage was.

    I advocate to attack rather than defend because, when you attack, it is on your own terms and the element of surprise is very important. You already have all the answers you need. They have to scramble to answer discovery requests. They try to delay every single response, it can become stressful for them. They just don’t have the papers to answer a lawsuit. I also strongly recommend to attack in federal court because it costs a lot more to servicers to defend those actions and they eat the entire value of the house in no time. And to insist on a jury trial (even more expensive!)

    I really, really want to be deposed because their attorneys haven’t met me yet. I want them to realize that I absolutely mean business and I’m willing to go all the way. Nothing to lose. The way i see it: for over 4 years, they’ve held me hostage. And even now, I am not free to pack and go anywhere as long as this is not resolved. Better believe I am in a rush to get it over with. But I’ve calculated how much I am willing to settle for. And I won’t budge.

  47. @NPV–am i reading this correctly??? Jamie Dimon represents ME?

    “Jamie Dimon (bio) 2012 Chairman of the Board and Chief Executive Officer JPMorgan Chase Vacant Class B elected by member banks to represent the public “

  48. @dcb I would like to note; I would be equally discouraged and enraged if any of those Board Members including the Chair, whom also lives in the same commonwealth in which the supply side FRC is incorporated. The is why Puerto Rico never becomes a State. Need that federal charter!!!

    Down with Chase, Down with Dimon, this whole damn court is out of order!

  49. @ dcb

    Class A
    elected by member banks to represent member banks
    Richard L. Carrión (bio) 2013
    Chief Executive Officer and Chairman
    Banco Popular de Puerto Rico

    Jamie Dimon (bio) 2012
    Chairman of the Board and Chief Executive Officer
    JPMorgan Chase


    Class B
    elected by member banks to represent the public

    Glenn H. Hutchins (bio) 2012
    Co-Founder and Co-Chief Executive
    Silver Lake

    Alphonso O’Neil-White (bio) 2013
    President and Chief Executive Officer
    HealthNow New York, Inc.

    Terry J. Lundgren (bio) 2014
    Chairman, President and Chief Executive Officer
    Macy’s, Inc.

    Class C
    appointed by Board of Governors to represent the public

    Lee C. Bollinger (bio) Chair, 2012
    Columbia University

    Kathryn S. Wylde (bio) Deputy Chair, 2013
    President and Chief Executive Officer
    Partnership for New York City

    Emily K. Rafferty (bio), 2014
    The Metropolitan Museum of Art

  50. Did anybody else read elsewhere how Obama has appointed NY AG to co-chair in some new task force he created to investigate banks fraudclosures and MBS peddling?


    For one way too many actions Obama has taken have blurred the lines that seperate the Federal and State Governments, and this is unacceptable. For another if the NY AG actually takes the position, that will be a VERY strong indicator that he’s been playing the part the whole time fooling the public. Which VERY much likely raises the possibility that ALL the other AGs that broke from the deal have been playing the part too.

    And really come on, WHAT THE HELL HAVE THEY DONE SO FAR?

  51. @TH
    Ill bet this particular little piece does work–its amazing–but I guess it means –HURRY UP THOSE DAMN FORECLOSURES SO WE FLIPPERS CAN GET THOSE CHEAP LOANS—otherwise we might have to take short term capital gains

  52. @carie – good one. i like that picture of them. she really looks like she’s reading him the riot act

  53. @dcb – bizarre. why are we protecting flippers?? of course, it’s under HAMP, so it won’t work anyway…

  54. why are these financial talks held around the best ski slopes in the world.

    better attendance





  56. @TH–hey youll love this aid for flippers—every time I think they have hit a new low–they surprise me—no loan to homeowner–but yes to flipper-i can see where this is going—

    “The Obama administration has announced changes to its flagship foreclosure prevention initiative – the Home Affordable Modification Program (HAMP). Among the changes, borrowers who are struggling because of debt beyond their mortgage will be eligible for a secondary evaluation with more flexible debt-to-income criteria, and eligibility will be extended to investor-owned homes that are used as rental properties. The administration is also giving principal reductions a bigger role within the program, tripling incentives for investors that agree to write down an underwater borrower’s principal balance and offering these same incentives to the nation’s two biggest mortgage investors – Fannie Mae and Freddie Mac.

  57. @TH
    “who would advise their client to make a deal and still leave liability open??”

    Any atty WHO would agree to do a DIL in exchange for a promise to remove a loan from a credit report—without explicit recourse if it doesnt happen—

  58. @tnharry

    Jan Brewer’s finger is far bonier than Obama’s…

  59. I assumed ENRAGED that you did your investigation–what I was wondering is if you did an explicit affidavit?

    Is it on an open site?

  60. “…(1) that investors, as creditors in these transactions are owed 100 cents on the dollar not by the homeowners, but by the Banks, who took investor money and either didn’t invest it all in loans, or invested in loans that they knew ( and were betting on) would fail

    hes correct–the investors are the bank’s creditors and the homeowner notes are banl assets—that are secuity for the mbs–bank debt

  61. To show how little these people know about this stuff, and how much they need to be educated, I met with a “Senior Mortgage Fraud Investigator” at my (large) county attorney’s office (think DA). The guy even had a cute plastic badge with that printed on it over his name. Halfway through my presentation detailing some fairly detailed and significant criminality concerning assignment fraud, he blurted out, “Have you heard about that robo-signing they talked about on TV?”

    We were on the 20th floor and all I could think about was jumping and taking him with me.

  62. @DCB said, “OK that is consistent with the Federal Reserve statements about the role of civil litigation….”

    Yes, it’s consistent with civil litigation, but I was at the county attorney’s office specifically because they can bring criminal prosecutions, not just civil. I’d spent my entire morning with my AG going over what I believe to be crimes worthy of the civil actions which they can bring. I can flat out guarantee that if you or I signed a document and then filed it at a county recorder’s office, a document in which we stand to make several thousand bucks, and someone could show proof that it’s fraudulent, we’d be standing before a judge before we could say Bob’s your uncle.

    It’s my belief that with the caliber of knowledge exhibited on this site, if everyone here was to organize their thoughts and files and present the same to their AGs and local crime-fighters, the table would slowly start to shift back towards level. At the very least, the prosecutors high and low would start to understand that this is big and getting bigger, and that their actions are being tallied.

    I firmly disagree with the claims made in comments here that because Dimon says this or that, the tide is turning. I’ve been hearing that sort of talk for several years on this very site, and have seen very little in the way of significant change. It will be up to us, one way or another….the government has shown its hand, and they’re all in with the banks.

  63. @ET
    “We’re not interested in crimes of that nature,” he said. “We are after brokers who defrauded the banks.”

    OK that is consistent with the Federal Resrve statements about the role of civil litigation—-also Schneierman–only investor fraud–at least some logic is that the investors are our everybody’s pension funds—too bad those are managed by Blackstone’s secretive Schwartzman. so the AGs etc are working to put money into Blackstones hands so they can try to divert the money in a more imaginative way–in Ohio our state fund managers liked rare coins [some non-existent] and interest rate swaps [bad bets] through Caymani counterparties–Ohio just write a check please? yes $100 million will do nicely today.

  64. @ian – i’m not commenting on the adequacy, morality, or propriety of the settlement. i’m just saying that, like many other things we’ve seen, Obama’s administration doesn’t have any idea what it’s talking about. you can’t expect to settle with people on one hand while the other hand develops additional investigations and prosecutions of the same issues and acts. it’s simply preposterous. and likewise Neil’s characterization of Dimon as the antichrist for his statement that it puts the settlement in jeopardy is just silly.

    i suspect what’s really going on is that Obama promised the new investigations, the banks back out of the settlement, and then Obama can point his bony finger at the banks as the bad guys…

    but then, who really cares? it’s not like anyone on this site really wanted the settlement anyway.

  65. The fact that a hoodlum like Dimon has publicly made threats just shows that we’re beginning to force their hand. The walls are about to come tumbling down, so it’s just a straw-grasp as the TBTF banks get sucked down the vortex because angry Americans are pulling the plug on these dirty criminal’s whole operation.
    There are too many people who actually know what is going on and can testify as State’s Evidence to save themselves. The banks have huge exposure there, and in the few people who quit the business when they realized how unconscionable their behavior was and how badly they hurt innocent people.
    I get more hopeful everyday that this chapter of unchecked criminal behavior that has gone unpunished and un-investigated will draw to a close soon and those who have been a part of this criminal enterprise will get their just deserts. It is obvious that Americans have had enough and mean business; no slap on the wrist and fines this time. “Angry Mobs With Rope Storm Wall Street” will be the resulting headline if there aren’t proper criminal charges, convictions and jail sentences that reflect the severity and scope of the crimes imposed.

  66. “its just plain extortion”——no its really bad advice

  67. Judicial notice shall be taken of the following:
    f) Facts and propositions of generalized knowledge that are so
    universally known that they cannot reasonably be the subject of

    Arguments in motions, are just that, arguments.

  68. Reblogged this on Ronmamita's Blog and commented:
    MORE PEOPLE are seeing the corporate-governments ties to criminality, corruption and deception…

  69. Enraged

    When u say lender please say who it is? you mean servicer? In my case Wells Fargo is servicer and owns 22% of Stewart Title who controlled/affiliated with local ABC title agent in Florida.

    I have read the PSAs where some have argued convincingly that the Wells Fargos (big servicers like Bank of America) etc as Master Servicer controlled the whole deal from the beginning to end (ie advancing payments etc).

    In my case it looks like WF advances payments of tax/insurance etc and then submits to Fannie Mae for reimbursal through the process but before final foreclosure. FM has to advance payments to the Trust/investor.

    Not sure where you are going with this but I like the idea of Neil’s one transaction meaning that I believe that the whole origination was funded temporarily by the Wells Fargo not by the piddly originator meaning the note/mortgage is void.

    However playing devil’s advocated my originator did have their own warehouse entity and ABCD entities on paper to go to the trusts.

    Also, I have read Countrywide master purchase agreements with small originators that essentially have in place that they will buy all loan originations from the originator the day of settlement (how this side agreement is not disclosed to the buyer I dont know its just terrible).

    Regardless, there is no doubt there are things going on behind the scenes that may affect our outcomes.

    I like your idea of attacking the bankers rather than sitting back playing defense. My lawyer has me in defense and personally I HATE it!!!!

    Give us details Enraged!! but u can keep them vague as needed!


  70. sorry, that should be ‘reputation’ and ‘toilet’

  71. tnharry- of course they want a settlement with no more litigation. However, the terms of the ‘settlement’,with no cash out of pocket, is so infintessimally miniscule as to be irrelevant. Anyone with half a brain can see this, based on millions of fraudclosures. Judge Jed Rakoff in NY refused to sign a recent settlement, because as he said,(sic) ” I have to hear the case, I don’t know what the charges are, so I cannot in good conscience allow the settlement to proceed”. I believe that the PINO case in FL is at the same juncture. The judge wants to hear the facts of the case. The plaintiff and defendant, “but your honor, we have reached a settlement” The judge doesn’t care. Nor should he. The ‘without admitting nor denying guilt’ mindset has plagued the courts for 40 years. I think that’s long enough. We don’t need any more settlements. What we need are investigations, followed by convictions, followed by penal servitude. These actions, which the AGs are ‘settling’, have brought down the global economy, created misery and despair, caused over 1000 documented suicides, and thrown the reputatio of the USA (that’s us) into the toiled. I don’t like that.
    Some people will do anything for money. I’m not one of them. I am getting some reponse from various state and federal agencies, which I will continue to get. They can’t say no to me. Why? I won’t let them, that’s why.
    By the way, if a fraudlosure homeowner commits suicide due to an action which cannot legally take place, who is responsible for their death(s)? The fc mill? Judge? Debt collector? Trustee for the ‘trust’? Robosignor? And is this accessory to murder? Murder one? Please tell.

  72. so strange – why would you include a press release from the Massachusetts Register of Deeds in a motion to compel in California? I’m sure you have some good arguments, but they’re overshadowed by the irrelevant stuff. just my .02

  73. Barry Fagan v Wells Fargo Bank

    Reply Brief with Expert Opinion of CPA Shawn P Adamo and Forensic document examiner Dr. Laurie Hoeltzel concerning Wells Fargo’s bank fraud.


  74. of course they want the settlement. i’m sorry, but this post is nothing more than fanning the flames of bitterness and anger among the users of this site. in what universe does it make sense for them to settle only to continue to be investigated and prosecuted? call me a bankerster b*tch, but who would advise their client to make a deal and still leave liability open??

  75. @DCB,

    Rephrase. How do you thing I found out CoreLogic has been paying all along and still does? That’s why I want to know where the CoreLogic money is coming from. It sure a hell isn’t coming from me!

  76. Don’t get so excited! I’m nowhere near there. I just want to get there in a hurry. I attacked the servicer in federal court almost 2 years ago. Got through the motion to dismiss without one bit of a problem. In the discovery phase. I’m just so damn impatient to get it over with!

    And yes, DCB, I have done my homework. How do you think I found out my lender was also the owner of the title insurance company and CoreLogic has been paying for my taxes and homeowner insurance eversince I stopped making my monthly payments?

  77. If Dimon says go East, it’s to make you think you should go West, so yes, go East. This is just more drama and psychological warfare. The banks WROTE the settlement. They just want us to THINK they don’t want it. Why it’s a fantastic deal, for them! They’re going to have to decide which one of them will give up their bonus to cover the fine, though.

  78. @NPV

    You might want to publish the composition of the Board of the New York Fed—is Dimon a sitting member–what percentage big banks?

    wouldnt it be a lot easier to make money if you sat on the board of the operator that induces rate changes? and sets the schedule?

  79. @ENRAGED

    By whom do you expect to be deposed? If you want to explain in most artful detail your facts found–then an affidavit-expert report would help a lot—–you can refer to specific paragraphs in your report and schedules when they ask you questions. Its easier to brief it that way as well as keep things on the track you want to follow–at least the one you want somebody else to follow. Their strategy is to make you look on paper confused–they play around—they really get a score when they can make you sound angry or accusitory –it pops off the transcript–because its not bland—it should remain very bland–factual.

    have you done your homework—do you experiences that point to a pattern involving any party that is common to other cases other than MERS.???

  80. enraged, Who is deposing you?

  81. http://www.huffingtonpost.com/2012/01/27/justice-department-subpoenas-financial-firms_n_1236739.html

    Eric Holder: Justice Department Issued Subpoenas To 11 Financial Firms

    “WASHINGTON, Jan 27 (Reuters) – Attorney General Eric Holder said on Friday that civil subpoenas have been recently issued to 11 different financial institutions, as he announced new efforts to investigate the residential mortgage-backed securities market.

    Holder said at a Justice Department news conference that he could not go into the details…”

  82. Obama is asking the American people to send him our requests and questions. Apparently, he’ll address the most recurrent ones on Monday, at 5:30 pm.

    It wouldn’t hurt if all of us asked him why, given what we now know of banks’ fraud, he hasn’t declared a nationwide moratorium on foreclosures pending completion of the investigations into every aspect of said fraud.


    Go ahead. Send your Request. “President Obama, in view of the extensive fraud committed by banks at every level of mortgage loans for the past ten years and extensively documented by individuals and by the media, why haven’t you declared a nationwide moratorium on foreclosures, pending completion of all investigations into the biggest financial scandal ever visited upon the American people by the banks? And why haven’t you yet pushed for the dismantlement of TBTF?”

    According to Neal Garfied, there are 1,166 members registered on this site. There are probably another 15,000 or 20,000 regulars who visit it daily. If everyone of us sends this, we have a crack at getting something done.

  83. not sure where the righteous indignation from the editorial comments is coming from. this shouldn’t be a big surprise. and frankly, isn’t that the point of a settlement? hate him or love him (and I can’t imagine anyone loves Dimon), the sentiment of drop the investigation or i won’t settle make perfect sense. what else is the incentive for the bank to settle if not to avoid further discovery and litigation???

    put yourself in DImon’s $2000 shoes – “you want me to pay a bunch of money to settle but you’re going to keep coming after me??” no thanks

  84. As much as I detest these people, I couldn’t wish that continental breakfast on anyone, no matter how criminal.

    The real investigation should be on what that yellowish mass is they pawn off as eggs….as a matter of fact, is the serving of that breakfast criminal?

  85. “…(1) that investors, as creditors in these transactions are owed 100 cents on the dollar not by the homeowners, but by the Banks, who took investor money and either didn’t invest it all in loans, or invested in loans that they knew ( and were betting on) would fail…”

    Neil—why, why, WHY do you continue to say that the investors are in any way, shape, or form some kind of CREDITOR??? This LIE is what they use to FORECLOSE and STEAL HOMES. Why do you perpetuate this lie? Whose side are you on? Why do you continue to do this? Absolutely inexcusable, after everything else you have done here. Sickening, really. Shame on you. Just STOP IT.

  86. Hey, one quick note, however irrelevant; why are these financial talks held around the best ski slopes in the world. If they truly want to become more transparent we should insist they hold all global banking discussions in Detroit. The Hotel 6 has a great conference facility overlooking what is left of their securitization scheme.

    If we can’t jail them, at least expose them to the suffering that hopefully their families will see if we are lucky enough for anyone to prosecute them.

  87. Why doesn’t anyone mention the conflict between Chase & The New York Fed. Now we know that Jamie ripped Timmy in public, but did he rip him as a board member of the NY Fed or the CEO of Chase Bank.

    Why is there no investigation of why Chase got the sweetheart Maiden lane deal for Bear Stearns, when clearly a sitting seat guy at the Fed was able to assume an insolvent bank into his insolvent bank. Was Chase on the wrong end of the swaps. Why did he have to go back-room with Stumpf to stop the public bickering over Wachovia, when he knew Stumpf securitized the majority of the Wachovia mortgages.

    Are they hiding the fact that they receive the cash flow on the defaults and public disclosure would reveal that nothing either of the them alleged happened within the Shelf Registration actually occurred.

    The power these two men have over our treasury and other level of government is frightening. Moreover, their power disallows the justice department to indict anyone, because the crimes would climb its way back up the ladder to the real criminals.

    So, everyone gets a free pass and the American taxpayer eats the losses through FRC facilities. The to big too fail banks have grown 29% since receiving this moniker, or this cool catch phrase.

    Ireland has now said it will default on its debt if bondholders don’t take a haircut. The people of America would be better off taking the hit now, breaking up the reserve system banks and all the National Associations. The criminal liability is obvious and our injustice department does nothing. We the people must demand the change we want, prior to the banks setting the change will will be left with.

  88. If Dimon says east, go west young man.

    As to the REMICs, the white house has already clearly stated that the IRS would not be a part of this.

    I witnessed this very same thing at my county attorney’s office yesterday, when I laid out a case of obvious and undeniable widespread fraud on the part of the lender, but more specifically, on the part of the attorney filing the fraudulent notices on behalf of the lender, which is a felony. “We’re not interested in crimes of that nature,” he said. “We are after brokers who defrauded the banks.” Anytime a government agency cherry picks which laws to pursue, the game’s over. The same thing applies to the federal judges as we’re witnessing across the country. Two tiered justice, cash only.

    Don’t hold out any hope whatsoever that change will come from within. It will have to erupt from millions of people in the streets calling for and demanding that the Dimons of Wall Street be prosecuted to the fullest extent.

    Short of that, which banker would you like to cast your vote for this election cycle?

  89. noooo… i don’t want to lose my $1800.00 settlement check!!! please , how can they be so mean!!

    no, no, nooo…

  90. Let him threat! Does he really understand the position he is in? Or is he in self denial? There are two bills similar to the Nevada bill that helped stop 80% of foreclosures. We need the suppport of Washington people at Olympia on Tuesday morning: STOP BANK FRAUD:
    PASS SB 6199
    This bill would make it a felony for beneficiary (or
    bank) in washington state to claim they have the
    power to auction a home at a foreclosure sale
    when, in fact, the beneficiary (or bank) does not
    have such authority. A $10,000 monetary
    damage is also attached per occurrence of
    This is about stemming illegal foreclosures* and
    the assurance that the public is entitled to have
    clear title when they purchase property in the
    state of washington. The homeowner needs to be
    sure that the entity foreclosing is the true beneficiary
    (owner of the note).
    *When nevada passed assembly bill 284 illegal
    foreclosures went to near zero.
    SB 6070
    Requires all property transfers and assignments
    to be recorded in the county’s recorders office
    where the property is located. Currently in our
    state, the Big Banks use MERS (Mortgage
    Electronic Registration System) – a private company.
    The introduction of MERS has caused lack of
    transparency to the homeowners. MERS has
    never been given authority by any governmental
    agency to replace the land record title system that
    resides in all the counties of our nation.
    This bill would require all transfers to be recorded
    locally given property owners the transparency they
    need. In addition this will bring millions of dollars
    into the counties, currently cutting vital public
    service jobs, via recording fees paid for by the Banks.
    Education opportunity shouldn’t depend on the
    size of your wallet of your zip code. Poor districts
    would lose twice as much on average as richer
    districts with cuts to LE. Some districts, like
    Marysville, losing $491 per student, compared to
    Mukilteo losing zero dollars.
    Call your Senator and Representatives NOW at
    1800-562-6000 and tell them to pass
    SB 6199, SB 6070 and not to touch levy equalization.
    You can also find their email here leg.wa.gov
    Contact Organization United for Reform Washington
    (OUR Washington) for more info 206-414-0537 *
    http://www.ourwashington.net *
    Organization United for Reform Washington
    (OUR Washington) 206-414-0537 *
    http://www.ourwashington.net *

  91. Neil,
    I’ve been reading your posts for a long time now and I must say that your summary of this latest bloviating and arrogance – in this example Dimon – and then of the entire situation is as concise and right on as ever.

    We can only hope by continuing to send messages and making statements such as these that eventually and finally the real nature of the situation and the actions by the banks will be dealt with in the proper light.

    The best thing that could happen is a scuttling of the AG deal, btw. Let’s hope Dimon is right!

  92. Its all smoke and mirrors.
    The timing was for re election purposes only.i
    If Obama is elected again ,any findings and the investigation
    will be dropped.
    Contributions from Wall Street will now start pouring in.,
    its just plain extortion.

  93. The sheer arrogance of that guy will never cease to amaze me! Can’t wait to be deposed. I have so much info and so much to say!!!

  94. me thinks the boy protests too much

  95. “that potentially trillions of dollars in unreported income went untaxed amounting more than any bailout”

    the realized gains on the partnership units [default if trust fails to meet remic status–which relies on the syndicator meeting se reps—-fall out if the investors are pension funds[nontaxable] —but domestic vulture capital could be subject to tax—so i would expect a lot of holdings by offshore hedge funds–see blackstone for example

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