Missouri AG Sells Out to LPS

LPS has settled with Missouri for non-prosecution. The Missouri AG agreed to accept the assertion of LPS that it had no idea that all the criminal behavior was ever happening. They are soooooo sorry that they are paying $2 million to the state as a charitable contribution. Think I’m joking? read the article. This is an outrage and should be stopped and the AG should be kicked out of office.

Agreement Not to Prosecute Docx, LLC and Assurance of Voluntary Compliance

15 Responses

  1. Nothing surprising about this-Fidelitys attorneys are well trained in bribing Judges.

  2. AG’s are Abramoff copy-cats: http://www.youtube.com/watch?v=EMMppBhOLXA&feature=related

  3. The sale of most or all of their crappy MBS CDO and other mortgage-note based investments carved up vertically horizontally and on a 45 degree angle—–and over time——-

    MBS sliced by default risk ; capital structure risk shifting within
    CDOs = MBS sliced by time; typical cash flow in a window of time

    draw the line at CDS–dont see how–need CDS too–orrealized loss on 5-10 million depreciating homes will be recognized at one time—stuff wont sell—except deep discount wholesale govt backed

    all this crap bought by Federal Reserve –to maintain the economy?

    Now Mitt appears to have included social security recipients that are exempt because the payments are so low—–Mitt cant abide these freeloaders—they want their annuities–the ones they purchased from Treasury Dept with decades of payments of 12-15% of gross pay —-its supposed to be there and we draw it back–but they blew it on wars everywhere on everything–and now want to break the contract by hugelydevaluing the dollar

  4. As i read the consent–the payment was a “voluntary contribution” to the state. It will be a strange payment–permit fee? It is done so as not to admit liability by LPS parent –it still wants to claim separation from docx —-info usable by hordes of class action suits —–ie maybe voluntary but not charitable-motivated without business purposes, of the heart and soul, like erecting a memorial in city park—–this is more like a civil penalty which will be deducted as “cost of doing business” unusual acctg for them. if it is called a penalty its not deductible—–most other pmts are–only question is what line on the 1120

    id like to hear some accts out there

  5. Little faith about what? IRS going after Missouri AG/LPS or us meeting with Jamie boy to learn hos to shake down?

    I, for one, happen to believe that we learn from the pro. And a pro he is…! Think about it: he insults us and still gets to dip in our pockets. Takes talent, if you want my opinion. i want that talent.

  6. ye of little faith

  7. DCB,


    Do you want us to make an appointment with Jamie boy? I need to learn how to shake down people for $23 millions. I’m sure that skill will come handy if I ever master it.

    And I have some pretty big plans for just one million to start.

  8. @DCB,

    When was the last time someone told you how awfully cute you are?

    Nah. IRS will not challenge that charity. Charity probably has attorneys and it would be too costly. Much easier for IRS to go after us: even if they don’t collect as much, it’s never going to take as much work and collecting is a sure thing. What did tnharry call it again? A business decision…? 🙂

  9. The IRS has the last say on whether the gift-maker was motivated principally by charitable motivations–

    LPS seemingly will have to disclose this as a unusual and material deduction that may be subject to challenge

    to avoid tax penalty—–i gotta write a letter to IRS—collect a cut

  10. HA HA thats rich “charitable contribution” —I was wondering if the payment was deductible —usually a PENALTY is not deductible—

  11. Oops! Nope. It’s only 2 lousy millions!

    Jamie boy shakes us for $23 of those in a heartbeat and any day of the week. He’s got one on Missouri AG. Gotta go make an appointment with Jamie boy instead…

  12. I gotta make an appointment with that guy. He seems to have a thing or two to teach me. Jeez! I’ve never learned to shake anyone like he shook LPS out of 2 billions. The guy knows something i need to learn…

  13. in the public interest ? why is this guy being paid. why are any of these officials being paid to sell us out, i very much resent paying taxes to pay their big salary to sell our interests out. we all need to protest peacefully, i believe eventually the karma will come back to those who owe the debt of karma, i am not bitter because i know it will happen, history tells us this also, i hope it is in my lifetime. I had the pleasure of being told a story of a grandfather of a black freind of mine who told him of the racial prejudice and segregation he suffered in his younger years, he lived to see obama elected and then passed away a few days later, what a sad thing this is, dishonorable to put it mildly.

  14. If I gave a “charitable contribution” to a cop (which the AG is the “head cop”)in response to getting busted, I would go to jail for bribery. Can citizens file a lawsuit against an AG? That’s what needs to be done.

  15. Charitable contribution? WOW, they don’t even TRY to disguise the bribes any more. What a nation we have become. Bunch of milk-toast AG’s and we are left holding THEIR “bag”.

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