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Back Off Banksters! NY AG Eric Schneiderman Fights Back After Being Kicked Off 50 State Robo-signing Investigation
Please People!
Take a moment to send thanks and encouragement to Eric Schneiderman & his staff who are aggressively investigating fraudclosure and felony land record fraud.
As is anyone who stands up and speaks out against TBTF predatory and criminal acts against Americans, Mr. Schneiderman is being attacked.
Remember that he is an elected official who is actually representing the people who elected him instead of the financial institutions! A rarity indeed who must be thanked and encouraged.
Contact info below...
NYAG Eric Schneiderman Pushes Back After Being Kicked Off Mortgage Abuse Investigation
BY Celeste Katz
After being pushed off a national panel of state attorneys general looking into subprime mortgage abuses, Eric Scheiderman is basically telling the guys who ousted him where to file their briefs.
As we noted in Wake-Up Call, Reuters reported that Schneiderman, a Democrat in his first term as AG, "has voiced concerns over a proposed settlement between major banks and a coalition of federal and state officials over claims of foreclosure abuses. He has come under increasing pressure to approve the deal."
Schneiderman is certainly framing himself as the good guy in this situation -- someone who wants to delve deeply into mortgage irregularities instead of simply reaching a fast settlement and getting the whole thing over with.
In an email to campaign supporters today, which came with the subject line "Standing Up For You," he wrote:
"You might have been following the latest developments related to the national settlement of the mortgage probe, including this story in today's Huffington Post about our tough fight for a comprehensive resolution to this crisis.
"Let me tell you directly: I am deeply committed to pursuing a full investigation into the misconduct that led to the collapse of America's housing market, and to seeking a resolution that gives homeowners meaningful relief, allows the housing market to begin to recover, and gets our economy moving again.
"Our ongoing investigation into the housing crisis cannot be shut down to accommodate efforts to settle quickly and give banks and others broad immunity from further legal action. If you have any thoughts or concerns about this critical issue, please contact me at 1-800-771-7755, or send a message via Facebook or Twitter."
SOURCE: NY DAILY NEWS
Please everyone, we must support this man. He is our last hope on a national level.
Craft your own words or here’s a sample script to say when you call or to copy & paste when you email:
Thank you all at the NY AG’s office for standing up to predatory banks who are dispossessing, foreclosing, and evicting millions of American families by committing mortgage servicing fraud, securities fraud, modification fraud, felony land record fraud, property conveyance fraud, and fraud upon our courts across the nation. The impact to our economy of tens of millions of American properties with clouded titles and defiled land records has not even begun.
Please continue this important work. Please do not let the attacks and push back by the financial industry and their corrupt puppets in positions of power impede your office’s work aimed at protecting citizens from the criminal and predatory acts that have greatly harmed us all.
Now get to work Citizen Warriors!
NY AG Contact Info
Phone
1-800-771-7755
Webmail
http://www.ag.ny.gov/online_forms/email_ag.jsp
Press Office
NYAG.Pressoffice@oag.state.ny.us
Twitter
http://twitter.com/#!/AGSchneiderman
Facebook
http://www.facebook.com/AGSchneiderman?sk=wall
www.4closureFraud.org
»
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Edwards, Clarkson & Schneiderman- Lets get them together and rock the house! Remember, New York State is where most all of the banks have their HQ (ex. Wells & BAC). The Pay to Play buy the level of impunity is rotten, illegal, and treasonous. In the words of Robert Gnaizda in INSIDE JOB, "Its a Wall Street Government".
Looks like Iowa AG Tom Miller was the ramrod, or at least the mouthpiece for kicking out Schneiderman. It's time to call this filthy prick out.
Tom Miller - cockhead
1305 E. Walnut Street
Des Moines IA 50319
Phone: 515-281-5164
Fax: 515-281-4209
webteam@ag.state.ia.us
Here is the thing about criminals of which the TBTF employees are:
If not caught and punished, criminals become more and more emboldened. They do NOT stop committing crimes
voluntarily.
There is no other way to get out of the mess we are in. We must catch and punish at least some major, high level
violators (fear of capture can have a beneficial effect to stop other criminals) otherwise the crimes will become more
rampant and heinous.
There are no other choices. Current non-action will never lead to a healed financial system where TRUST is paramount.
Sent email. We need a list of the AGs that caved to the banks.
Frankly, I don't see how a 3rd party can forgive criminal and civil misdeeds. The whole thing is pure "color of law", not "law". Though I'm not saying the legion of 99.99999% corrupt judges will take the case or find correctly, the fact is, no settlement of this kind can LAWFULLY protect the banksters.
And frankly, I can't believe a few [thousand/million] insightful lawyers won't recognize this after they're finished with their color-of-law smoke-and-mirrors scam.
sure write some nice letters Pussies!
wtf there is only a few people need to be retired and the leadership wake up!
Just sent him an email. Thanks for the article!
Done, my name is in there.
I just shot the NYAG the following letter:
Dear Mr. Schneiderman,
I am a retired corporate lawyer, a member of the bar for 38 years and former resident of New York. My father and grandfather were lawyers. I have always been proud of the profession because, among other things, it is an integral part of the rule of law, which is essential for a free society And I have always been impressed with the vigor with which New York Attorneys General enforced the rule of law.
Today we seem to be entering a "new normal." Highly placed Federal and State officials, some very highly placed, are suppressing information, shielding influential businessmen and refraining from seeking indictments of the frauds who have ruined our economy and victimized gullible citizens.
I am pleased to hear that you are not participating in the "50"-state AG whitewash of the mortgage mess. Thanks to the Internet, the ordinary citizen will see their "solution" as just another bank bailout. And, while it might help some homeowners, it will not completely rectify the consequences of mortgage broker fraud. Moreover, there are some intractable problems that only vigorous AG action can ameliorate. Those problems include:
1) Securities Fraud. For example, the Bank of America/Merrill Lunch acquisition. Henry Paulson and Ben Bernanke told BAC's CEO not to disclose material information to BAC's shareholders . The transcript is all over the Internet. Those guys should be in jail. And the public knows it. This is one of the most high profile examples of officialdom failing to enforce the rule of law. This outrageous, clearly intentonal failure has a spawned a rampant cynicism about law and lawfulness. It is bad for society and can result in nothing but more moral hazards. As the dissenters said in United States v. Bankers Trust Co., 294 U.S. 240 (1935), "Loss of reputation for honorable dealing will bring us unending humiliation; the impending legal and moral chaos is appalling."
2) Mortgage Broker fraud. How many of the individuals who deceived home buyers have been indicted? I have heard only of the poor sap who signed a "liar loan" going to jail. What about the broker (or, God forbid, a bank employee) who told him that it was ok to sign even if it were not true? Some have excused mortgage "pushers" because the federal law encouraged them. But as a prosecutor, you know that fraud is fraud. The victims were deceived and suffered tragic, life altering damage.
3) Real Estate Transfer Tax Fraud. How many millions of dollars in transfer tax revenues have been lost to counties in New York as a result of the MERS system, which was designed to evade transfer taxes? It's not just Florida, Nevada and Arizona whose mortgages were packaged into mortgage-backed securities. New York's counties are also affected. MERS is a slam-dunk RICO case. Treble damages. Need money? Go for it.
4) Robo-Signing. New York is affected by this. The idiots who forged signatures were told that it was OK. Who told them that? Those people are most culpable and need to be indicted.
There are many other issues that the courts can address and private litigants can sort out, such as the mess the banks and trusts created by not complying with the fedeal income tax and state trust laws. And the state AG's cannot hope to solve those. But investors can, and will.
Forgive the banks nothing. Any offer that they make to buy peace will not be adequate to compensate the victims. And by no means grant any amnesty to the criminals who defrauded your citizens and your local governments, who now find themselves in dire straits because of corrupt organizations.
Thank you for your great service to the State of New York.
Sincrely yours,
Eugene C. Holloway
Eugene, great letter and facts. I just watched a movie called "conspirators" about the Lincoln assasination and how justice was denied, but a helluva lawyer almost made a valiant effort. We need a few absolutely fearless lawyers to fight for what is just against these behemoth criminal syndicates. I hope the AG sticks to his guns.
Eugene - Excellent points, excellent letter. Thank you.
Very nice letter Gene. Have you many friends in the profession?
Maybe they would like to send a letter - or get more involved.
Sure would be nice if the lawyers who believe in the rule of law would stand up like you just did!
Let's hope he doesn't have a taste for hookers and/or blow.
Here's an example of how petty this shit can get:
http://www.nationofchange.org/revealed-former-goldman-sachs-vp-turned-is...
Yes, it is a David against Goliath..yes, the Wall Street mob will attempt to destroy you...yes, it is Mission Impossible. But when has that ever stopped a REAL HERO. If one prosecutor will lead, the public will support the prosecutor.
The prosecutor who leads the charge will become a national hero. Go Schneiderman!
Thank you Mr Schneiderman and Staff
A true man of integrity You and your colleagues
Will he accept an email of thanks, praise and support from a Canadian?
Never mind... he's already got it.
Me too, for what it's worth.
Mine too - from Leicester, United Kingdom...
i always love a 4closurefraud article.....lord have mercy on us all and protect us from the criminal banksters....
Please everyone send your thoughts and encouragement!!!!
"Schneiderman" ? Begorrah ! May the Saints in heaven preserve us!
What? An Irishman investigating the crimes commited by other Oirishmen - dats what we call Bollocks-ed Up in the Ol' Sod !
Aye - fair credit, they kissed the Blarney Stone alright - and youse fellas - who beleef this shite - just fell off the turnip truck ;)
aye, aye ...aye , begorrah....
Terry Wogan. The Coors. Father Ted. Big bag o' bejessuzun bollacks. *Protestantism*.
No Americans will get this. But NYF and I shall laugh like delighted fairies*.
* Not that kind. Those pictures are 'shopped. I tripped with my mouth open.
TW/TC/FT/BBBB/*P* - Dont yez be going after accusing me of being a flaming fairy (who wears women's frilly panties -a size too small for that extra "snug" fit) - unless its a good boot up the ol' arse yez looking for - yea big bleedin proddy poofta!
Come to visit us:http://trendybull777.blog.com/
a lot interesting stuff about markets and their direction with thoughts exchange
Soon to be Client #99
I applaud AG Schneiderman for standing up to the monster we call TBTF banks. These banks made foolish loans with other people's money, then packaged these loans into junk securitites made to look like AAA investment grade bonds, and sold them off to trusting clients. In each case the client suffered. To be fair, borrowers had a choice, but without truthful information on which to base a borrowing decision how could they make the right choice. Now as the economy falters because of greed of the TBTF banks, the borrowers who have not committed any crimes are being treated as criminals. As Janet Tavakoli recently said,"Last time I checked foreclosure was not a crime." The TBTF banks changed the way the system worked with MERS and then worked outside the law to save money by avoiding payment of legally mandated fees to the very municiplaities that are going broke. These TBTF banks thumbed their noses at the system and brioke every law they wanted with no criminal consequences. They have been bailed out with the tax dollars of the very people they have harmed and they continue their corrupt activities, laughing at the impotence of Eric Holder and his master, bankster slave Obama. You can be sure if the CEO of any TBTF bank had a zero tolerance policy for illegal or unethical activity, many thousands of people would be out of jobs and things would be very different, in a positive way. But, this type of policy would greatly negatively impact their already weak income stream. This creates a dilemna, do we continue to support corrupt activity of the banks to save our financial system and continue into the future with a broken system, high unemployment, very little growth and a lot of suffering while setting a horrible example of moral and ethical conduct for our country (basically saying crime pays), or, do we allow the TBTF banks to fail, jail the criminals who ran them into the ground, and then rebuild our system after a monumental failure (at least we will have wiped the slate clean). Kyle Bass recently said that we have a choice to have a voluntary restructuring which would be painful or an involuntary restructuring which would be very painful and longer lasting. I believe that to continue down our current path will lead to the bankruptcy of our society both morally, ethically and financially. I for one vote for the organized restructuring option...too bad no one in Washington has the balls to do what's right. At least AG Schneidermann is doing the right thing.
As a side note, I have lost approximately 3/4 of my net worth during the real estate meltdown...obviously I was a real estate investor and did not sell my assets at the right time. (I was nnot a speculator, I was a 30+ year veteran of the business and worked on solid value added deals looking for 10% returns of the total deal value...not the outlandish 20+% that many foolish people were looking for...) As a result of the economic debacle my income dried up and my home went into foreclosure. Before the meltdown I had enough equity to pay off my loan off 3 times over. Since the meltdown I don't have enough to pay off the mortgage. It is ironic however that I have enough left to pay the bank about $150,000 more than my home is worth on todays market. I made them that offer and they told me they would rather take the additional $150,000 loss than let me keep my home. So let's see...they caused the problem, they pass the additional loss onto the investor/noteholder and ruin my credit while adding another home to the inventory of distressed properties. Why are we bailing these guys out...talk about stupid!
why would they refuse your $150,000 OVER market and rather kick you out of the house (and then they will sell it for $50,000 BELOW market) ......this is the part of the equation i just dont understand after following this and becoming well read for the past 2 years......havent they already stole the money and got away with it, what more do they want ????....i guess i am just to dumb to get my head around it but dont they think people who have nothing left to lose are going to become dangerous (so is that what they want ????)
Question: "dont they think people who have nothing left to lose are going to become dangerous (so is that what they want ????)"
Answer: Probably...
In fairness, the offer I made, while still $150,000 more than the property is worth in today's market, is about $300,000 less than the original mortgage. I had a 55% loan on a multimillion dollar property, but at the time I could afford it (they offered me an 80% no doc ALT-A loan but I turned them down). The high end homes in my area have dropped 65%. They say the reason they will not take my deal is because of 'moral hazard'...basically they figure if they give me a deal, everyone else will follow suit. I even offered to sign a non disclosure agreement. I have to chuckle at their mention of moral hazard...what about the moral hazard of making absolutely stupid loans? I was on a radio show about 4 months ago and called out Jamie Dimon; I asked him if he would give me his $250 million fortune so I could loan it out at 100% LTV to people with no income on no doc loans at prices 125% of the current market....that's what these criminals were doing, but never with their own money. They made a fortune off the trillions of losses they created and continue to enrich themselves off of the lifes work of the middle and lower classes. They are literally sucking the life's blood out of our system. No wonder they are referred to as Vampire Squids.
It's on their books now as the loan's original balance. The bank would have to mark to market this loan to essentially show a $150k loss. Their "moral hazard" is then the marking to market of all outstanding loans that have greater balances due than the value of the underlying real estate.
AG Schneiderman should use that same reason for not accepting the settlements from the banks. Nope can't accept because of moral hazard, we'll have to go to court.
I think that because they know they are immune they realized that they can have a second meal at the trough by now actually getting the property itself for free. Like a desert. They never had anything in it in the first place; maybe a fraction at most. Fractional banking at it's finest. And they can write off the "loss" for at full value. Pure genius.
Fine with me, let 49 states share the $20 Billion because New York State will get about $200 Billion from the criminals, and put a few behind bars in the process.
You've heard of Spiderman; well meet Schneiderman.
as much as he might appear to be doing well. he's just another ambitious attorney general doing squat in the long run but defending the status quo
How exactly is he defending the status quo?
He's from upstate. Must be the drinking water because we're all like that up here. Now on to Heids for hot dogs!
Encouraging words sent. Thanks for bringing it to our attention.
Eric Schneiderman for President!
I reccomend Schneiderman hire Harry Markopolos for his demonstrated financial forensic skills and demonstrated effectiveness.
Markopolos knows well how to discern and apply the Key Questions that are requisite to any real investigation.
Or seek counsel of Bill Black or Cathr. Fitts or Brooksley Born. There are many of demonstrated integrity.
Positive comments sent.
Think about the other 49 AGs they are willing to rewrite the laws and ignore the laws for the banks and they were elected by the people. So the rest of the states have the top law officer working to make illegal and fraud legal. Only one of them is actually standing up for the law. That is pretty sad.
In fairness, I suspect a lot of smaller state AGs are concerned that, in the event of enforcement of full liability, they offending banks will all blow up, and there will be very little left for state officers to recover.
Yeah, you union parasites that are voting for Obama, guess who sold this MBS garbage to your underfunded pension? That's right. That's your AFL-CIO representative pressuring the NY AG to allow this settlement. If you don't know who's on the short end of the stick, it's you.
Where's your evidence? All I see is crooked politicians, plenty of them red.
http://news.firedoglake.com/2010/10/28/damon-silvers-blasts-treasury-tri...
http://www.larouchepac.com/node/19155
AFL-CIO attorney Damon Silvers working on a pro bono basis on the fraudulent settlement.
By red, you must mean republicans. You're right. Republicans are slimeballs too. But they're not the ones employing the current US AG to not prosecute massive fraud. They'll get their chance to do nothing about this in due time.
Where were the union and moveon.org protests during the bailouts? They were busy attacking the Tea Party for protesting the bailouts
Sure am glad he came out swinging against these bastards. He has my support.
he won't live long.