Screw the Pooch!!??

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Editor’s Comment:

Do some research, think about what you know and what you need to know. Come to my seminar or any seminar on securitization and you will understand the significance. Naked short-selling is the same as selling forward. In both cases you sell to an “investor” something where you have no asset and no money to back it up. You take the money from the investor and use it pretty much any way you like and account for it as “trading profits.” Then you take what is left and you create the illusion of transactions when in fact the documents refer to a virtual transaction in which the parties were different than those described on the closing documents and the terms of repayment of the loan are different than the terms disclosed to either the  investor or the borrower.

This sort of thing is unfathomable to most people, except those who spent a lot of time on Wall Street or doing Wall Street-type things, which is an adequate description of my background. If you sold a car to someone when you didn’t have the car or the money to buy it and then you took the money and put part of it in your pocket as your fee and then went out and bought a junker, you might be charged with civil or criminal fraud. Don’t you think? But on Wall Street these behaviors are permitted in the name of increasing liquidity.

What a country!

Joe Floren Screws the Pooch

by Patrick Byrne

The first time I heard Joe Floren speak I was standing behind him in an elevator in his law firm’s San Francisco office tower  as another lawyer informed him that the subpoena Joe Floren had served the previous day on a colleague of mine had reached her in the hospital, after a difficult delivery of her first child, while she was breastfeeding for the first time.

“Really? That’s beautiful. I love it!” He replied with glee.

Joseph E. Floren, Esq., is a lawyer at Morgan Lewis, the white shoe law firm defending Goldman Sachs against Overstock’s prime broker litigation, and tonight I celebrate the mistake Joe Floren made yesterday.  In filing Goldman’s response to Overstock’s motion to vacate the trial court judge’s decision to stay his own decision to unseal various documents related to this litigation (in more straightforward English: the trial court judge decided to unseal some documents while also deciding to delay acting on his decision, but we objected to this delay, and Goldman responded to our objections), Joe Floren screwed the pooch. He filed something containing an attachment he forgot to redact. That attachment is a previous filing of Overstock’s, a filing which contains but a sample of the shenanigans at Goldman and Merrill that has turned up over the course of five years and millions of pages of discovery, but which filing we had redacted when we made it (as good litigants do).

Fortunately for the cause of all that is good and right about America, Joe Floren’s goof came to the attention of a diligent 1st amendment attorney in California named Karl Olson, who represents the Economist, Bloomberg, the New York Times and Wener Publications (owners of Rolling Stone magazine) in their efforts to obtain the documents.  Karl Olson provided Joe Floren’s sloppy filing to his clients. Tonight these stories appeared:

Rolling Stone: Accidentally Released – and Incredibly Embarrassing – Documents Show How Goldman et al Engaged in ‘Naked Short Selling’

Bloomberg: Goldman, Merrill E-Mails Show Naked Shorting, Filing Says

Economist: An enlightening mistake

Really, Joe Floren?  That’s beautiful.  I love it.

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41 Responses

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  7. Kathy,

    I’d be suing in a jiffy. Especially since we know what kind of hanky panky is still going on. Get an injunction until it has been figured out and obtain damages for negligence (and/or fraud). What I wouldn’t recommand them to do is wait until the servicers figure it out themselves and get behind in their payments. A pre-emptive strike is always better.

  8. All three statements have different payment amounts….

  9. Update …. Perspective homeowners purchase and close home in May 2012. They have since recieved three statements as to whom and where to make their 1st mortgage payment, all from three differant parties. I can see where this is heading already …… where does it stop?

  10. To bobhurt @5:38 a.m. – a very big thumbs up

  11. The judges know all the loans are void. They know that they are depriving us of due process and that banks create money out of thin air, don’t kid yourself. They know about the government profiting from it’s mind boggler sized investments and hiding the profit from the dumb public. Their lifetime appointments are funded this way. They don’t want us to know that Wall Street provides their salaries and pensions through trading profits in rigged markets dominated by insider trading, because we would loose respect for them or worse yet, we might demand that the entire legal system be disposed of and that they be sent to jail for their failure to uphold the law. Lookup The Bankruptcy Club. Lawyers pay $3 grand a month to belong to it. The scandal is nationwide. There is no such thing as justice in this country anymore, only whatever outcome you pay for. So since the banksters can afford to pay for their desired outcome–everyone being made homeless who made the mistake of doing business with financial criminals–they (judges) give our stolen houses to them and go home to their own mansions with their fat expense accounts. The judicial system is corrupt, the legislative branch is corrupt, and the executive office is the most secretive and anti-constitutional we have ever had the misfortune of suffering. The three branch system of government was too easily corrupted by a few powerful men, as our founding fathers warned. Bankers are only part of the problem, our system of government failed because money and politics don’t work together.

  12. ToLLe,

    Taibbi cracks me up. He zeroed in on the comical. That was better than Chaplin’s Modern times!

    That (Indian) guy at Goldman Sachs got 11 1/2 years. And he was not the No.1 guy. There is hope the No1s will get it and get it good…!

    Oh and that precison about the guy being Indian is just ‘cuz I’m not sure exactly why he got that much for his teeny participation in the fraud that he didn’t create but simply jump on… Can’t tell if it’s because he wasn’t Jewish enough or American enough (whatever the hell that means).

    Other than that, no UFO today other Columbus-by-the-Sea. Maybe we’re too good to need rescue…? What, with Kasich, DeWine and cohort!

  13. @ Enraged, I hadn’t read Taibbi’s take on the televised foreplay that we were privy to on the TeeBee. Good stuff. I’m sure these jerks satisfied Dimon fully in exchange for yet more cash in the senate chambers after the really big show, in the fitting fashion of highly paid senate brothel babes that they are. What a truly embarrassing display. Corker is too much! No, I mean that literally….Corker is way too much.

    All of these guys remind me of Baghdad Bob, remember him? Just so sure that he and Saddam and Saddam’s offspring could get by with anything they wanted with no peril. They sang a completely different tune when faced with the only way down the stairway via a taught rope. Our so-called representatives and their bankster friends need to be impressed with a distasteful image of the dangersome justice awaiting those who sell out our republic as well. These thugs will just keep at it until they get that they’re vulnerable.

    As you’re well aware, I’m not quite the optimist that you are. I believe we need to start tying nooses on street corners in order to impress these guys. Or, how’s about the loud “SCHLING” of a sharp metal blade hitting just above the catch basket reverberating through Manhattan every few minutes?

  14. That wasn’t a pooch; that was an elephant!

  15. The Pooch has left the room ……

  16. @ToLLe,

    I know, honey. Well, if you watched that award-winning performance our reps put on with Jamie boy Thursday, might have got your blood really boiling. Matt Taibbi described it so well, I had to laugh out loud.

    You know what keeps me going? That inner conviction that, in the end, it will work out and we’ll see the culprits punished as they deserve. Even if it goes through a bout of martial law and FEMA camps first, we’re way too numerous for them. They cannot, physically, control the entire discontent world population. Simple mathematical principle. And in the meantime, if people get comfort in policing grammar and it gives a sense to their life, let them! Why give them any power over you?

  17. Enraged, I get really tired of and have zero tolerance for folks curtseying around the real paramount issues here…..who gives a shit about grammar under these conditions? This is a war to the death, and bob there is worrying about using doggie-sex terminology!

    The same goes for those who would ascribe these actions to satan….oh for Christ’s sake! Please spare me the religiosity….there’s enough lunacy coming from on high in D.C. without needing to point towards middle age dogma or puritanical correctness. This elite takeover of the planet knows no sects, or sex, for that matter.

    If we don’t change directions here and decide en masse that we’re going to forcefully yank those White House cufflinks off of Dimon and replace them with stainless steel attached models, we’re all screwed, with or without the animal kingdom.

  18. Anyway,

    Still old news and nothing came out of it, right? Except that, since then, I had the out-of-body experience of watching a bunch of elected officials genuflect before money-God while NOT asking any of the questions we can all answer by now without being paif for knowing it all, mind you.

    Dimon got to flaunt some cuff links people are heavily commenting on and which are sure to resolve the economy as we speak.

    Every other website is too busy talking about Europe to remotely tackle our own problems here.

    ToLLe is being his usual instigator.

    Everything is going just faaaaahne! I think I’m gona go UFO chasing today. Gives me hope for some change. ‘Cuz it ain’t coming from people, for sure…

  19. @ bobhurt said, Beside all that, what fault do you find with encouraging people to write nicely?

    Besides the fact that you just used a few hundred zeros and ones defending your stance that “screw the pooch” is offensive to mankind?

    Oh please bobhurt. In the same amount of time and space you could have solved not only the nationwide foreclosure problem, I’d be willing to bet that you could have also made big inroads towards whirled peas for all the time you went off on a simple turn of a phrase that everyone knows is not about pouring your poodle a bowl of Shiraz and turning on some Enya in a candlelit kennel prior to some four-legged heavy petting.

    I’d like to ask you about your free commentaries, but I’m late for a romp with a nicely coiffed shi-tzu. And before you go off on me, I’ll explain that I believe vulgarity is a learned trait, and one that varies widely. Case in point: The way I was raised, it’s flat out immoral to purchase congress and introduce old ladies to the curb after setting them up to fail with a fraudulent (fraud-you-lent) financial contract that might as well be written in Sanskrit. As a matter of fact, I once met a Great Dane I’d like to turn loose on Jamie Dimon for a rough tryst, if you know what I mean. Screwed by the pooch? I’d pay congress myself to see that. Pay for view?

  20. While I do take issue with fractional reserve banking, I don’t take issue with middle men. I believe something fundamental goes wrong when a foreclosure defender neglects basic frauds, torts, breaches, and legal errors underlying the mortgage, and starts arguing about robo signing, securitization. and the like. And I want to know why more foreclosure defenders don’t DEMAND SANCTIONS against adversaries who deceive the court. Look at the MOdel Rules of Professional Conduct at the American Bar Assn site, and the topic under Advocate entitled Candor Toward the Tribunal. Lawyers have to be honest with the court about material facts. And judges can sanction them for contempt for dishonesty. Furthermore, attacking appraisal fraud could provide an opportunity to obtain a settlement or get the house free and clear. Most foreclosure edfenders utterly ignore that opportunity.;WHO IS TRAINING THESE LAWYERS?

  21. There’s a difference between a typo and an inapplicable, vulgar expression. Neil says to relax and have a little fun. Life’s tough enough as it is with all the seriousness. I don’t know about you, but I know that Neil gives of himself tirelessly, educating others when he could play golf. Yes, he does seminars and other things for money but he does Livinglies, for better or worse, free. And in general he expresses himself elegantly, with good will, good humor, and tolerable typos and spelling errors.

    I ribbed him about the screw-the-pooch comment which he only echoed from another vulgarism that the writer misused. So in making fun of Neil, I made fun of the original author as well.

    As for me, I spend most of my time reading law, writing commentaries (http://bobhurt.blogspot.com), and helping people see clearly the best approach to solving problems in life. I do it free.

    And I guess my readers appreciate it because they seldom complain against me. I imagine you wouldn’t complain much if you familiarized yourself with my free work.

    I write so prolifically that I’ll surely make mistakes from time to time. Anyway, I apologize for my typo. But I don’t apologize for encouraging Neil to clean up his expressions. He doesn’t need to borrow vulgarisms from malapropists to make his points.

    In case you wondered “screw the pooch” means “f___ the dog” which means “kill time” or “I don’t have anything worthwhile to do and I’m bored so I please myself with my dog.” So its use in the sense in question constitutes an extreme vulgarity and a contextual error, just as your use of it does.

    Beside all that, what fault do you find with encouraging people to write nicely?

  22. Should we just put an * by our Foreclosure Era?
    by Chip Parker, Jacksonville Bankruptcy Attorney

    Baseball had the “Steroid Era,” and the law has its “Foreclosure Era.” The two phenomenons are so similar, but the latter has shaken our confidence in our system of justice.

    Major League Baseball, Congress and the media found the ultimate solution to the Steroid Era of our “National Pastime” – put an asterisk by it and forget how baseball became professional wrestling. I can barely remember how an entire sport and its heroes became just another bunch of cheaters chasing hollow glory and big bucks. Yeah, Roger Clemens is still being prosecuted for perjury, but who cares?

    Our Nation is facing the same situation today with the Foreclosure Era of law, and for the sake of history and restoring faith in our system of justice, we must decide how we shall deal with this.

    In foreclosure cases, lawyers who swore to uphold the United States Constitution and to never misrepresent facts and evidence to our trial courts lie with regularity and purpose. There is no question that most lawyers handling foreclosure cases on behalf of mortgage servicers have routinely misrepresent critical facts to judges and have presented fraudulent documents in the process of extracting a citizen from his home. I have personally seen dozens of examples of this, and I have heard of hundreds more. The Florida Bar has never disciplined one foreclosure mill lawyer for manufacturing and submitting knowingly fraudulent evidence, but The Bar DID investigate me and other defense lawyers for talking about it to the press.

    And there is also no question that judges, whether they be retired senior judges or duly elected officials, routinely ignore fundamental rule of law in foreclosure cases. Our Courts have set up an alternate reality in foreclosure cases, focusing on homeowners missed payments rather than restoring confidence that mortgage servicers and banks will be held to the same standard as every other plaintiff who brings a lawsuit. I have personally seen dozens of examples of this, and I have heard of hundreds more. For instance, Senior Judge Sandra Taylor was admonished for conducting illegal communications with the bank’s lawyers outside the presence of the defendant, but in the end, Judge Taylor was never disciplined.

    We all know its there. The 5 largest banks admitted to this fraud when they signed off on their $25B sweetheart deal with the Attorneys General from throughout the USA. Plus, there are only pockets of resistance at the appellate court level, where some appellate judges are reversing only the most obvious examples of trial court misunderstanding of basic law.

    All in all, the truth does not matter because we are all but cattle to the banking industry. Just look at Jamie Dimon’s testimony before the Senate Banking Committee. The panel is comprised of the biggest beneficiaries of Dimon’s campaign contributions, and it shows. These senators were practically apologizing for “our government’s role” in JPMorgan’s estimated $7 Billion loss in the risky hedge funds market. “We’re sorry, Mr. Dimon. Shame on us.”

    According to the media wonks, we’re all apparently tired of hearing about it. Two years ago, CBS News interviewed me about a foreclosure case, and the executive producer told me off camera, “The Country has foreclosure fatigue.” TWO YEARS AGO!!

    Heck, I get it. I know I have foreclosure fatigue. I’m ready to put the foreclosure crisis behind me and move on to our next national undoing: student loans! Sadly, foreclosure fatigue does not translate into foreclosure prevention or foreclosure cure.

    We cannot bury this crisis in the litter box of history until we recognize how foreclosures have changed the way most Americans look at our judges, our political leaders and our banking system – all of whom have justifiably lost respect from the rest of us.

    I am not speaking of individuals as much as I am speaking of institutions. As there were those ball players with integrity who refused to cheat just because “everyone is doing it,” there are those rare judges and politicians who insist the law is greater than this manufactured foreclosure crisis. But they must fight harder against an unfair system, lest they be branded with the same scarlet letter.

    The response to the Foreclosure Era we are seeing emerge from our elected leaders, our courts and the media is a page right out of Steroid Baseball. There is a subtle shift changing the vocabulary used to describe the illegal conduct that has shaken the foundation of our judicial system. More and more, we see words like “fraud” being replaced with “error” and “mistake.”

    Consider the latest article from DSNews.com. In the first sentence, the author asks, “If a lender produces a fraudulent document when attempting to foreclose on a borrower, should lenders be able to voluntarily dismiss the foreclosure then re-file the case after fixing the error?”

    In one sentence, the author suggests that the intentional act of fraud is a “fixable error.” Imagine if JPMorgan got caught shoplifting a book from Barnes & Noble. Apparently, the Bank could “fix the error” by putting the book back on the shelf. No harm, no foul, right?

    The author of the DSNews propaganda continues by explaining that holding the banking industry to the same standard as the rest of us would harm everyone by causing even greater delays in foreclosures. The banks and our judges are merely protecting us from ourselves.

    Thank you, Mr. Dimon. Thank you Foreclosure Court.

    In the end, the American People and The Truth have suffered permanent injury at the hands of the people who were sworn to protect us: lawyers, judges and politicians. The story has become so large that the media is no longer interested in it. So, the game plan is to follow Major League Baseball and just put an asterisk by the Foreclosure Era* and move on.

  23. Has anyone ever tried to refinance a mortgage without collateral (not talking about equity here)? No title ins .. no collateral..no mortgage refinance. They have you locked in where they want you ..ARMs, high intrest rate fixed loans. Its just not the folks who are underwater (negitive equity) having problems….

  24. @ Enraged. Retaliation, threats, intimidation,harassment , (computer error>>Hahahaha)… anything to get what they want. This country is run by computer software created for the benifit of the Greedy. Its a mistake if you do it one time. It is a choice if you do it again! Or you can just blame it on the computer software to avoid prison. I know of cases where the pretender purposly and willfully trashed titles …( if they can not have it …. neither can you!) Where does that leave the rightful owner (Investor) of the collateral and debt? Where does that leave the homeowner ? With an unsecured debt for a mortgage purchase to witch they will never own or can never sell. but must legally repay the debt. 🙁

  25. We know what to do. What its it going to take before it is implemented? Common sense hasn’t died. Common sense WILL prevail. Since we also know that much, why wait further?

    A Full Proof Solution to Fix the World Economy

    Posted on June 15, 2012 by Henry Shivley

    The Federal Reserve was created in 1913 in the middle of a depression and quickly brought the country out of the depression through World War I. It is called massive spending and incurring massive debt to bolster a false economy. Following World War I there was a series of depressions, including the so called Great Depression and this cycle was not broken until World War II, which as far as spending was concerned, made World War I look like a trip to McDonalds.

    Of course the debt accumulated was just as ginormous. In fact the debt was so huge it could not be paid. We all know how compound interest works and when you are financing using a fiat debt dollar, there reaches a point when it is mathematically impossible to discharge a debt. The truth is it has been mathematically impossible to discharge a debt from the creation of the first fiat dollar because of the interest attached.

    Enter in the Marshall Plan which was a mass forgiveness of debt, which in reality was just a mass forgiveness of the interest the international bankers compiled through the finance of the war. Of course there has been one depression after another here in the United States and around the world since World War II as depression is a natural consequence of dealing in fiat debt dollars.

    If you look up the depression of 1913-1914 in Wikipedia, it and all the other depressions except the Great Depression are called recessions. The word “recession” was adopted in the 1970s, I guess so the people would not get so depressed over the depressions.

    Think about it, looking out across a flat field there is a one foot dip in the ground. Now is that a recession or is that a depression? It is both. It is one and the same.

    What we are in at present is a deep crater, much like that that existed in Europe after World War II. The international bankers do not want the crater to end, as the people of the world seem content to endure it and indeed be brought into slavery by it.

    A furtherance of the status quo through a Romney or Obama administration will only serve to make matters worse. Mathematically, there is only one solution to this problem.

    Delete the fraudulent debts from the computers, round up all the bankers, and use their thieving carcasses to fill the crater they created.

    God bless the Republic, death to the international corporate mafia, we shall prevail.

  26. This article really gets to the TRUTH about what is still going on. Wall Street continues to sell BAD Loans to the Investors and they are still closing BAD loans with homeowners and buyers alike. For the past year I have pondered for a solution, I spend many hours studing what others have suggested. I’ve come to the conclusion that Neil has. We must bring the TRUE CREDITOR/Investor and Homeowners to the table and Cut Out the Greedy middleman. Why on Earth would you do business with an unregulated monster? Do not borrow, do not Bank with them. Do NOT invest or contribute anymore to your 401k or pension. Stash your Cash! Don’t Feed the Monster! And for Heavens sake……. Read, Study, and Comprehend, Understand before you sign a contract!!!!! As you all have discovered they’ve made the fine print and wording to where not even all Attorneys/Judges get it. Educating the Judges and Attorneys is a step in the right direction. The bad apples need to be idenified and you need to be demanding their resignations.

  27. Worth reading. Another take on the future of America. When is the picture going to become so unbearable to envision that we do feel compelled to take to the streets? If we don’t do it, no one else will. Europe won’t do it for us. BRICS won’t do it for us. Australia won’t do it for us. Africa… can’t even do it for itself, for Pete’s sake!

    So, what will it really take?

    http://www.huffingtonpost.com/richard-zombeck/wells-fargo-retaliates-by_b_1595308.html?utm_source=Alert-blogger&utm_medium=email&utm_campaign=Email%2BNotifications#postComment

  28. @ 3:05, bobhurt said, “Give us a break (Neil). You’ll killing our language.[sic]”

    Way to go bobhurt. Nothing like electing yourself Grammarian’s police chief, only to be charged with a felony yourself. You sure screwed the pooch with that silly-ass remark, Mr. Malaprop.

  29. Thanks Carie .. I could blame my spelling on the concusion or I could tell you it was sticky keys on my keyboards from my spilled diet coke and coffee, but I will tell the truth. Spelling is not one of my strongest abilities … I’m still stuck at the preschool level. But what I lack in spelling I make up for in reading comprehension. Knowledge is Power. I apolagize for being rude to you, … I’m old enough to know better … just not old enough to control it all the time. ( My Mouth ) .. 🙂 I get fluffy when people label “Judges, Attorneys, Notaries, Law Enforcement ..etc…” as all “Bad Apples”. Every basket has bad apples … that does not make the whole basket bad. If you through out the whole basket … you get nothing.

  30. Senator Saunders is nseeing red. Very, very red. And rightfully so.

    http://readersupportednews.org/news-section2/318-66/11895-sanders-releases-explosive-bailout-list

    Jamie Dimon Is Not Alone

    During the financial crisis, at least 18 former and current directors from Federal Reserve Banks worked in banks and corporations that collectively received over $4 trillion in low-interest loans from the Federal Reserve.

    US Senator Bernard Sanders (I-Vt.)
    Washington, DC
    June 12, 2012

    1.Jamie Dimon, the Chairman and CEO of JP Morgan Chase, has served on the Board of Directors at the Federal Reserve Bank of New York since 2007. During the financial crisis, the Fed provided JP Morgan Chase with $391 billion in total financial assistance. JP Morgan Chase was also used by the Fed as a clearinghouse for the Fed’s emergency lending programs.

    In March of 2008, the Fed provided JP Morgan Chase with $29 billion in financing to acquire Bear Stearns. During the financial crisis, the Fed provided JP Morgan Chase with an 18-month exemption from risk-based leverage and capital requirements. The Fed also agreed to take risky mortgage-related assets off of Bear Stearns balance sheet before JP Morgan Chase acquired this troubled investment bank.

    2.Jeffrey Immelt, the CEO of General Electric, served on the New York Fed’s Board of Directors from 2006-2011. General Electric received $16 billion in low-interest financing from the Federal Reserve’s Commercial Paper Funding Facility during this time period.

    3.Stephen Friedman. In 2008, the New York Fed approved an application from Goldman Sachs to become a bank holding company giving it access to cheap Fed loans. During the same period, Friedman, who was chairman of the New York Fed at the time, sat on the Goldman Sachs board of directors and owned Goldman stock, something the Fed’s rules prohibited. He received a waiver in late 2008 that was not made public. After Friedman received the waiver, he continued to purchase stock in Goldman from November 2008 through January of 2009 unbeknownst to the Fed, according to the GAO. During the financial crisis, Goldman Sachs received $814 billion in total financial assistance from the Fed.

    4.Sanford Weill, the former CEO of Citigroup, served on the Fed’s Board of Directors in New York in 2006. During the financial crisis, Citigroup received over $2.5 trillion in total financial assistance from the Fed.

    5.Richard Fuld, Jr, the former CEO of Lehman Brothers, served on the Fed’s Board of Directors in New York from 2006 to 2008. During the financial crisis, the Fed provided $183 billion in total financial assistance to Lehman before it collapsed.

    6.James M. Wells, the Chairman and CEO of SunTrust Banks, has served on the Board of Directors at the Federal Reserve Bank in Atlanta since 2008. During the financial crisis, SunTrust received $7.5 billion in total financial assistance from the Fed.

    7.Richard Carrion, the head of Popular Inc. in Puerto Rico, has served on the Board of Directors of the Federal Reserve Bank of New York since 2008. Popular received $1.2 billion in total financing from the Fed’s Term Auction Facility during the financial crisis.

    8.James Smith, the Chairman and CEO of Webster Bank, served on the Federal Reserve’s Board of Directors in Boston from 2008-2010. Webster Bank received $550 million in total financing from the Federal Reserve’s Term Auction Facility during the financial crisis.

    9.Ted Cecala, the former Chairman and CEO of Wilmington Trust, served on the Fed’s Board of Directors in Philadelphia from 2008-2010. Wilmington Trust received $3.2 billion in total financial assistance from the Federal Reserve during the financial crisis.

    10.Robert Jones, the President and CEO of Old National Bancorp, has served on the Fed’s Board of Directors in St. Louis since 2008. Old National Bancorp received a total of $550 million in low-interest loans from the Federal Reserve’s Term Auction Facility during the financial crisis.

    11.James Rohr, the Chairman and CEO of PNC Financial Services Group, served on the Fed’s Board of Directors in Cleveland from 2008-2010. PNC received $6.5 billion in low-interest loans from the Federal Reserve during the financial crisis.

    12.George Fisk, the CEO of LegacyTexas Group, was a director at the Dallas Federal Reserve in 2009. During the financial crisis, his firm received a $5 million low-interest loan from the Federal Reserve’s Term Auction Facility.

    13.Dennis Kuester, the former CEO of Marshall & Ilsley, served as a board director on the Chicago Federal Reserve from 2007-2008. During the financial crisis, his bank received over $21 billion in low-interest loans from the Fed.

    14.George Jones, Jr., the CEO of Texas Capital Bank, has served as a board director at the Dallas Federal Reserve since 2009. During the financial crisis, his bank received $2.3 billion in total financing from the Fed’s Term Auction Facility.

    15.Douglas Morrison, was the Chief Financial Officer at CitiBank in Sioux Falls, South Dakota, while he served as a board director at the Minneapolis Federal Reserve Bank in 2006. During the financial crisis, CitiBank in Sioux Falls, South Dakota received over $21 billion in total financing from the Federal Reserve.

    16.L. Phillip Humann, the former CEO of SunTrust Banks, served on the Board of Directors at the Federal Reserve Bank in Atlanta from 2006-2008. During the financial crisis, SunTrust received $7.5 billion in total financial assistance from the Fed.

    17.Henry Meyer, III, the former CEO of KeyCorp, served on the Board of Directors at the Federal Reserve Bank in Cleveland from 2006-2007. During the financial crisis, KeyBank (owned by KeyCorp) received over $40 billion in total financing from the Federal Reserve.

    18.Ronald Logue, the former CEO of State Street Corporation, served as a board member of the Boston Federal Reserve Bank from 2006-2007. During the financial crisis, State Street Corporation received a total of $42 billion in financing from the Federal Reserve.

  31. legal “jargon”.

  32. The perfidy of the trial courts is worse than anything mentioned here and explains why “nothing happens”. These courts refuse to perceive banker evil, aka the three brass monkeys. It’s always the lawyers and judges condoning corruption.

  33. @Bob, do I need to get my switch out? haha Play Nice! The headline draws alot of attention and gives a few of us ole timers a Good Laugh! Its a Great Way to Explain the Truth in a Language others understand. I can read and comprehend all the legal jargen and the so called ramblings and understand it. If I tried to explain it to others in the same legal jargen,… it would be a train wreck. Keeping it Simple, Loving, Laughing and Learning have always worked for me. *Smile* its contagious!

  34. “Screwed the pooch?” Literally that means “had sex with the dog,” a vulgar way of saying “killed some time.” It does not mean “made a mistake,” the apparent context in the article. Its misuse makes the author a malapropist. I guess that includes you too, Neil. Give us a break. You’ll killing our language.

  35. Because the word Goldman does not stimulate hormones in women our age. Words like Naked and Screwed …. naturally that is associated with dropping the pants. hahaha

  36. A Kat (cat) when screwed is mature enough to forgive but not stupid enough to trust again. The Kat stops feeding the beast. Why the heck are the pooches still feeding it with their pensions, 401k etc..? Goes to show Kats are smarter than Pooches.

  37. @Kathy,

    It felt like a tease. Goldman screws up. Goldman caught with its pants down. Nothing happens to Goldman. Why bother mentioning it?

  38. @ Neil ….the Pooch has been screwed so many times … there is nothing left but a big hole.

  39. Now play nice Enraged! 🙂 …. I have 18yrs of teaching ECE (preschool) and I am recovering from a serious concusion. Dr took the staples out …. but I still think I have swelling on the brain. Or then again it could be the whine (I mean wine ..). *Grins*

  40. Hey Neil, this is ooooooold news! Dated May 15th. And we haven’t heard anything further on that. I caught it a month ago but not another peep since. Any update wortth reading?

  41. Ring around the Rosie , Pockets full of Investor cash… Just waiting for the market to crash… and wipe out the middle class….

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