Institutional Crime and Legal Complaints

banditwinsagain

U.S. stock exchanges face lawsuit over high-frequency trading

By Jill Treanor

The American lawyer who orchestrated a successful class action suit against the tobacco industry 20 years ago has turned his sights on the stock exchanges caught up in the controversy over high-frequency trading.

HFT is the process by which professional traders are able to put orders in to the stock market more quickly than the majority of investors. Putting in these earlier bets on the market, it is alleged, allows professionals to make quick profits at the expense of savers and investors in pension funds.

Read More: theguardian.com

The Divide: American Injustice in the Age of the Wealth Gap by Matt Taibbi

“The hunt is on and brother you’re the prey”
~ Curtis Mayfield, “New World Order”

Book Review By Catherine Austin Fitts

Matt Taibbi’s The Divide: American Injustice in the Age of the Wealth Gap is a beautifully written book which documents the double standard applied to “justice” for the rich and poor in America.

While the generosity shown by American prosecutors towards large financial institutions is widely appreciated, the nuts and bolts of how the Department of Justice and the American legal system engineered this windfall is not understood. Taibbi does an excellent job of digging in and explaining how it was done. Life is in the details and the details will astound you.

Another aspect not understood is how enforcement in a wide variety of forms is used to terrorize innocent poor people and profit from doing so. Taibbi’s description of how this war on the poor works is a brilliant contribution.

My favorite chapter describes the effort by hedge fund traders to destroy Fairfax Financial Holdings. Taibbi documents wave after wave of dirty tricks and harassments targeted at a reputable company and their senior executives. Think it can’t happen in America? The CEO of Fairfax Financial Holdings didn’t believe it could and put his company and shareholders at enormous risk as a result. If you are in business in North America you need to read this chapter.

If you walk down the street or drive a car in America, you need to read this book and prepare yourself to navigate the Sheriff of Nottingham let lose upon the land. There are scores of federal and state enforcement agencies with guns and budgets who can make money by catching you. More fiscal pressure means more arrests, more seizures and more civil money penalties.

Taibbi is a first rate storyteller who – along with the reality of our situation – will have you laughing and crying – sometimes at the same time.
.

RELATED:
https://ronmamita.wordpress.com/2014/04/18/legal-complaints-may-ultimately-unravel-the-current-global-financial-cartel-part-2/
https://ronmamita.wordpress.com/2014/03/11/legal-complaints-may-ultimately-unravel-the-current-global-financial-cartel/
https://ronmamita.wordpress.com/2014/04/21/banking-fraud-under-attack/
https://ronmamita.wordpress.com/2014/02/15/another-david-vs-goliath-lawsuit/
https://ronmamita.wordpress.com/2013/11/20/fabricate-it-the-system-is-rigged-everything-is-rigged/
https://ronmamita.wordpress.com/2013/04/30/rolling-stone-everything-is-rigged/
https://ronmamita.wordpress.com/2014/02/15/brief-legal-financial-probes-ripples/
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Posted in Take 'em to COURT
3 comments on “Institutional Crime and Legal Complaints
  1. RonMamita says:

    I had several dreams today:
    1. The last one , as I woke up, A old man decided to end his retirement and seek a prominent position with the prestigious religious body: Having full knowledge of the bad direction institutions have taken in becoming a cancer in the lives of people on Earth. He stood to speak and told the story of the ancient council that changed the path of the religion. After that he said, “That is all I have to say.” He then turned and walked out of the door. not waiting to answer questions. …

    2. One of the earlier dreams: the investors knew the prices were falling and expected them to continue to fall; but the highest officials (Executive Board members) were frightened and demanded they stop that from happening. Meanwhile, we the masses of people wanted the prices to fall…
    I kicked the old man (former president Bush) to get out of my way, he was attempting to block my path; yes his bodyguards were there…

    My dreams above, had a lesson to explain the changes to come.
    The reputations and honors of the institutional leaders have been lost and massive changes ahead…

    Like

  2. RonMamita says:

    Are We Approaching The Bottom Of The “Rabbit Hole”?

    THE REAL EGYPTIAN REVOLUTION
    http://projectcamelotportal.com/written-interviews-and-reports/2112-the-untold-egyptian-revolution-humanity-rising-above-globalist-control

    False reporting is scripted and staged in the News from major news agencies as a government propaganda tool and to manipulate public opinion.
    Consider the international “common” law and ancient knowledge of human rights as expressed in the spiritual and energetic form of reality…

    Prince Judge Matthew Greene, Ph.D. discusses human rights, non-alignment, corruption, freedom, sovereignty, closed door meetings within governments…

    Like

  3. RonMamita says:

    BAP Panel Raises the Stakes Against Deutsch et al — Secured Status May be Challenged

    Fur Further Information please call 954-495-9867 or 520-405-1688

    ——————————–

    ALERT FOR BANKRUPTCY LAWYERS — SECURED STATUS OF ALLEGED CREDITOR IS NOT TO BE ASSUMED

    ——————————–

    I have long held and advocated three points:

    1. The filing of false claims in the nonjudicial process of a majority of states should not result in success where the same false claims could never be proven in judicial process. Nonjudicial process was meant as an administrative remedy to foreclosures that were NOT in dispute. Any application of nonjudicial schemes that allows false claims to succeed where they would fail in a judicial action is unconstitutional.
    2. The filing of a bankruptcy petition that shows property to be encumbered by virtue of a deed of trust is admitting a false representation made by a stranger to the transaction. The petition for bankruptcy relief should be filed showing that the property is not encumbered and the adversary or collateral proceeding to nullify the mortgage and the note should accompany each filing where the note and mortgage are subject to claims of securitization or a “new” beneficiary.
    3. The vast majority of decisions against borrowers result from voluntary or involuntary waiver, ignorance and failure to plead or object on the basis of false claims based on false documentation. The issue is not the signature (although that probably is false too); rather it is (a) the actual transaction which is missing and the (b) false documentation of a (i) fictitious transaction and (ii) fictitious transfers of fictitious (and non-fictitious) transactions. The result is often that the homeowner has admitted to the false assertion of being a borrower in relation to the party making the claim, admitting the secured status of the “creditor”, admitting that they are a creditor, admitting that they received a loan from within the chain claimed by the “creditor”, admitting the default, admitting the validity of the note and admitting the validity of the mortgage or deed of trust — thus leaving both the trial and appellate courts with no choice but to rule against the homeowner. Thus procedurally a false claim becomes “true” for purposes of that case.

    see 11/24/14 Decision: MEMORANDUM-_-ANTON-ANDREW-RIVERA-DENISE-ANN-RIVERA-Appellants-v.-DEUTSCHE-BANK-NATIONAL-TRUST-COMPANY-Trustee-of-Certificate-Holders-of-the-WAMU-Mortgage-Pass-Through-Certificate-Series-2005-AR6

    This decision is breath-taking. What the Panel has done here is fire a warning shot over the bow of the California Supreme Court with respect to the APPLICATION of the non-judicial process. AND it takes dead aim at those who make false claims on false debts in both nonjudicial and judicial process. Amongst the insiders it is well known that your chances on appeal to the BAP are less than 15% whereas an appeal to the District Judge, often ignored as an option, has at least a 50% prospect for success.

    So the fact that this decision comes from the BAP Panel which normally rubber stamps decisions of bankruptcy judges is all the more compelling. One word of caution that is not discussed here is the the matter of jurisdiction. I am not so sure the bankruptcy judge had jurisdiction to consider the matters raised in the adversary proceeding. I think there is a possibility that jurisdiction would be present before the District Court Judge, but not the Bankruptcy Judge.

    From one of my anonymous sources within a significant government agency I received the following:

    This case is going to be a cornucopia of decision material for BK courts nationwide (and others), it directly tackles all the issues regarding standing and assignment (But based on Non-J foreclosure, and this is California of course……) it tackles Glaski and Glaski loses, BUT notes dichotomy on secured creditor status….this case could have been even more , but leave to amend was forfeited by borrower inaction—– it is part huge win, part huge loss as it relates to Glaski, BUT IT IS DIRECTLY APPLICABLE TO CHASE/WAMU CASES……….Note in full case how court refers to transfer of “some of WAMU’s assets”, tacitly inferring that the court WILL NOT second guess what was and was not transferred………… i.e, foreclosing party needs to prove this!!

    AFFIRMED- NO SECURED PARTY STATUS FOR BK PROVEN

    Even though Siliga, Jenkins and Debrunner may preclude the

    Riveras from attacking DBNTC’s foreclosure proceedings by arguing

    that Chase’s assignment of the deed of trust was a nullity in

    light of the absence of a valid transfer of the underlying debt,

    we know of no law precluding the Riveras from challenging DBNTC’s assertion of secured status for purposes of the Riveras’ bankruptcy case. Nor did the bankruptcy court cite to any such law.

    We acknowledge that our analysis promotes the existence of two different sets of legal standards – one applicable in nonjudicial foreclosure proceedings and a markedly different one for use in ascertaining creditors’ rights in bankruptcy cases.

    But we did not create these divergent standards. The California legislature and the California courts did. We are not the first to point out the divergence of these standards. See CAL. REAL EST., at § 10:41 (noting that the requirements under California law for an effective assignment of a real-estate-secured obligation may differ depending on whether or not the dispute over the assignment arises in a challenge to nonjudicial foreclosure proceedings).
    We must accept the truth of the Riveras’ well-pled
    allegations indicating that the Hutchinson endorsement on the
    note was a sham and, more generally, that neither DBNTC nor Chase
    ever obtained any valid interest in the Riveras’ note or the loan
    repayment rights evidenced by that note. We also must
    acknowledge that at least part of the Riveras’ adversary
    proceeding was devoted to challenging DBNTC’s standing to file
    its proof of claim and to challenging DBNTC’s assertion of
    secured status for purposes of the Riveras’ bankruptcy case. As
    a result of these allegations and acknowledgments, we cannot
    reconcile our legal analysis, set forth above, with the
    bankruptcy court’s rulings on the Riveras’ second amended
    complaint. The bankruptcy court did not distinguish between the
    Riveras’ claims for relief that at least in part implicated the
    parties’ respective rights in the Riveras’ bankruptcy case from
    those claims for relief that only implicated the parties’
    respective rights in DBNTC’s nonjudicial foreclosure proceedings.

    THEY REJECT GLASKI-

    Here, we note that the California Supreme Court recently

    granted review from an intermediate appellate court decision
    following Jenkins and rejecting Glaski. Yvanova v. New Century
    Mortg. Corp., 226 Cal.App.4th 495 (2014), review granted &
    opinion de-published, 331 P.3d 1275 (Cal. Aug 27, 2014). Thus,
    we eventually will learn how the California Supreme Court views
    this issue. Even so, we are tasked with deciding the case before
    us, and Ninth Circuit precedent suggests that we should decide
    the case now, based on our prediction, rather than wait for the
    California Supreme Court to rule. See Hemmings, 285 F.3d at
    1203; Lewis v. Telephone Employees Credit Union, 87 F.3d 1537,
    1545 (9th Cir. 1996). Because we have no convincing reason to
    doubt that the California Supreme Court will follow the weight of
    authority among California’s intermediate appellate courts, we
    will follow them as well and hold that the Riveras lack standing
    to challenge the assignment of their deed of trust based on an
    alleged violation of a pooling and servicing agreement to which
    they were not a party.

    BUT……… THEY DO SUCCEED ON SECURED STATUS

    Even though the Riveras’ first claim for relief principally

    relies on their allegations regarding the assignment’s violation
    of the pooling and servicing agreement, their first claim for
    relief also explicitly incorporates their allegations challenging
    DBNTC’s proof of claim and disputing the validity of the
    Hutchinson endorsement. Those allegations, when combined with
    what is set forth in the first claim for relief, are sufficient
    on their face to state a claim that DBNTC does not hold a valid
    lien against the Riveras’ property because the underlying debt
    never was validly transferred to DBNTC. See In re Leisure Time
    Sports, Inc., 194 B.R. at 861 (citing Kelly v. Upshaw, 39 Cal.2d
    179 (1952) and stating that “a purported assignment of a mortgage
    without an assignment of the debt which it secured was a legal
    nullity.”).
    While the Riveras cannot pursue their first claim for relief
    for purposes of directly challenging DBNTC’s pending nonjudicial
    foreclosure proceedings, Debrunner, 204 Cal.App.4th at 440-42,
    the first claim for relief states a cognizable legal theory to
    the extent it is aimed at determining DBNTC’s rights, if any, as
    a creditor who has filed a proof of secured claim in the Riveras’
    bankruptcy case.

    TILA CLAIM UPHELD!—–

    Fifth Claim for Relief – for violation of the Federal Truth In Lending Act, 15 U.S.C. § 1641(g)

    The Riveras’ TILA Claim alleged, quite simply, that they did
    not receive from DBNTC, at the time of Chase’s assignment of the
    deed of trust to DBNTC, the notice of change of ownership
    required by 15 U.S.C. § 1641(g)(1). That section provides:
    In addition to other disclosures required by this
    subchapter, not later than 30 days after the date on
    which a mortgage loan is sold or otherwise transferred
    or assigned to a third party, the creditor that is the
    new owner or assignee of the debt shall notify the
    borrower in writing of such transfer, including–

    (A) the identity, address, telephone number of the new

    creditor;

    (B) the date of transfer;

     

    (C) how to reach an agent or party having authority to

    act on behalf of the new creditor;

    (D) the location of the place where transfer of

    ownership of the debt is recorded; and

    (E) any other relevant information regarding the new

    creditor.

    The bankruptcy court did not explain why it considered this claim as lacking in merit. It refers to the fact that the
    Riveras had actual knowledge of the change in ownership within
    months of the recordation of the trust deed assignment. But the
    bankruptcy court did not explain how or why this actual knowledge
    would excuse noncompliance with the requirements of the statute.
    Generally, the consumer protections contained in the statute
    are liberally interpreted, and creditors must strictly comply
    with TILA’s requirements. See McDonald v. Checks–N–Advance, Inc.
    (In re Ferrell), 539 F.3d 1186, 1189 (9th Cir. 2008). On its
    face, 15 U.S.C. § 1640(a)(2)(A)(iv) imposes upon the assignee of
    a deed of trust who violates 15 U.S.C. § 1641(g)(1) statutory
    damages of “not less than $400 or greater than $4,000.”
    While the Riveras’ TILA claim did not state a plausible
    claim for actual damages, it did state a plausible claim for
    statutory damages. Consequently, the bankruptcy court erred when
    it dismissed the Riveras’ TILA claim.

    LAST, THEY GOT REAR ENDED FOR NOT SEEKING LEAVE TO AMEND

    Here, however, the Riveras did not argue in either the bankruptcy court or in their opening appeal brief that the court should have granted them leave to amend. Having not raised the issue in either place, we may consider it forfeited. See Golden v. Chicago Title Ins. Co. (In re Choo), 273 B.R. 608, 613 (9th Cir. BAP 2002).

    Even if we were to consider the issue, we note that the

    bankruptcy court gave the Riveras two chances to amend their
    complaint to state viable claims for relief, examined the claims
    they presented on three occasions and found them legally
    deficient each time. Moreover, the Riveras have not provided us
    with all of the record materials that would have permitted us a
    full view of the analyses and explanations the bankruptcy court
    offered them when it reviewed the Riveras’ original complaint and
    their first amended complaint. Under these circumstances, we
    will not second-guess the bankruptcy court’s decision to deny
    leave to amend. See generally In re Nordeen, 495 B.R. at 489-90
    (examining multiple opportunities given to the plaintiffs to
    amend their complaint and the bankruptcy court’s efforts to
    explain to them the deficiencies in their claims, and ultimately
    determining that the court did not abuse its discretion in
    denying the plaintiffs leave to amend their second amended
    complaint).

    Like

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The Worldwide Awakening
Peaceful Awareness & Knowledge Based TransitionSeptember 11th, 2017
Exercise freedom and creativity for all Earth’s inhabitants to explore ready breakthroughs in Self Organizing Communities, economics, and technology. This is a D.I.Y. project
State Sponsored Terror
The Big Day ReportMarch 30th, 2018
Institutions of crime Big days have come, gone, and come again (Manipulations: Market Exchanges crash, wars, government Elections, and Taxation). Search for what is hidden and for what is not spoken. What secrets are hidden in Antarctica? Be Aware of the next big Day for fraudulent institutions.
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