Posts Tagged ‘banking industries’

Landmark Foreclosure Case Goes Before Florida Supreme Court; Has Banks Terrified

Wednesday, May 9th, 2012

The banks are terrified they might actually be held accountable for their actions!

If you haven’t already heard, there is a monumental case that was heard Thursday morning in the Florida Supreme Court, and every single homeowner should be paying close attention to this case.

To watch a replay of the oral arguments, please click here.

The case is Roman Pino vs. Bank of New York. It involves all the customary fraud I have seen in countless cases.

Missing documents, fraudulent assignments, fraudulents notaries, and forged documents, and a bank once again trying to shuffle it’s dirty deeds under the rug like loose dirt.

When Bank of New York first tried to foreclose on Pino, a regular working guy from Greenacres who fell behind on his mortgage when his business dried up, there was no assignment of mortgage.

So Bank Of New York’s lawyers tried to re-file with a new assignment, one which was fraudulently backdated (AKA robosigned).

The bank’s original lawyers, by the way, were from David J. Stern’s office. You know their story.

When our good friend and colleague Tom Ice, Pino’s lawyer, challenged the documents, Bank of New York suddenly decided they didn’t want to foreclosure anymore, dropped their lawsuit and scurried back into their hole.

End of the story??

Not even close. Ice continued to dog Bank of New York like a pitbull, because he, believe it or not, also thinks the banks need to actually be held accountable! (Remarkable I know.)

He tried to have the voluntary dismissal overturned, so that Bank of New York could face sanctions for the forged documents they tried to use to swindle Roman Pino and the court.
(more…)

Time To Break Up ‘Too Big To Fail’ Banks Is Now

Wednesday, April 11th, 2012

“Let me be frank. Our banks earn profit too easily. Why? Because a small number of large banks have a monopoly.”

Sounds like something I would have said. Or something our president SHOULD be saying.

Except here’s the thing. The elected official quoted isn’t talking about our own corrupt banking system.

The quote above came from the prime minister of China. And he’s talking about his own country’s state-run banking companies.

Wen Jiabao, during a recent broadcast of China’s state-run radio, said his banks need to be broken up to fix his country’s economy.

If China, a country not exactly known for embracing capitalism, wants to break up its banks, does the US have any other choice but to follow suit?

I believe our nation, as a people, is duty bound to do so.

I’m saying it. The Dallas Fed has said it. Even Bruce Springsteen has said it. And now the prime minister of China has said it.

When banks are not only ‘Too Big To Fail’ but too big to compete, we the people must step in and break them up.

There really is no other choice. It’s pretty shocking that China has come to that conclusion before us. In fact it’s an absolute disgrace.

The idea that it’s OK for the TBTF banks to continue operating at the size they now do is a fallacy and it’s a notion that’s only been propounded by the banking industry to basically preserve the status quo.

Just shows you whose pockets many of our politicians are in.

Only when we have competitive, nimble, smaller banks that are able to seize new opportunities as they arise are we going to be able to compete on the world stage.
(more…)

Dallas Fed Calls Out Too Big To Fail Banks

Thursday, March 29th, 2012

Too Big To Fail used to be a joke.

It became an insult hurled by Occupy Wall Street or the Tea Party at the big banks, but that’s all it was.

It was never an expression that had any legitimacy. It was just a nice little way for the media to classify the banking industry in a ready-made slogan.

Guess what? Too Big To Fail isn’t a joke anymore. It’s actual policy towards our nation’s biggest financial institutions.

The Federal Reserve of Dallas has now legitimized my scathing criticisms of the banks in their annual report and it has resonated with with everything I’ve been writing in this blog.

It was a nice early birthday present when I got home yesterday and read the report, written by the head of the Dallas Fed’s research department. Harvey Rosenblum.

When Greg Smith published his critique of Goldman Sachs, the aftershocks rang through the halls of every office on Wall Street.

After reading Rosenblum’s report, which was subtitled “Why We Must End Too Big To Fail — Now”, I can only imagine what will happen now.

It’s about time that someone on the government side validated the anger and anxiety shared by the Occupy and Tea Party movements. Right there in an official Fed paper!!

So what did I find so appealing about his critique? He spells it out, clear as day, what Too Big To Fail really is, and what’s it’s led to.

What It Is: In 1970 the top 5 banks possessed 17% of the nation’s banking assets. In 2010? 52 percent.
(more…)

Politicians and Banks At It Again! Bring It On!

Tuesday, February 28th, 2012

In my last blog I railed against the Florida Fair Foreclosure Act, which is making its way rapidly through the Florida Senate as the session winds down.

I said it’s being pushed by banking industry shills and should die a quick death.

So of course it was passed by the Senate Banking and Insurance Committee by a 6-4 vote and will now be headed to a full vote before the House and Senate.

Thanks guys! With friends like that…..

But after a moment of reflection and enlightenment, I have this to say to my friends in Tallahassee.

Bring it On!

That’s right! Pass the Bill.

My phones have not stopped ringing these days, as more and more clients are getting ready to lawyer up.

That’s right this bill will only increase the value I bring to my clients each and every day for without an attorney the Legislature will make sure that the “Florida Fair Foreclosure Act” is fair… for the banks … but not for you.

They will make sure that without counsel that you will be stripped of your right to defend your home. Without counsel the new law will ensure that you will go through a legal system that will resemble a steam roller.

It makes me laugh that the Legislature is entrusting the banks to not commit fraud once again. Because the honor system worked so well the last time.

But its sad that the Legislature is interfering with the independence of the judiciary by telling the courts what to do and how to do it.

Please, please try your best to pass the Florida Fair Foreclosure Act, because all you’ll be doing is making sure I’ll have a new stream of clients to defend, and more importantly be able to help the economy by hiring more people.
(more…)


PHP/MySQL Components, WordPress Plugins, and Technology Opinions at TravisWeston.com

Bad Behavior has blocked 1595 access attempts in the last 7 days.