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MORTGAGE FRAUD WAS NOT ONLY NEVER FIXED, BUT IT WAS ALSO NEVER CHANGED AT ALL. FORECLOSING PARTIES ARE STILL ASSIGNING MORTGAGES AND DEEDS OF TRUST TO TRANSFER THE OWNERSHIP OF YOUR DEBT. THE SUPREME COURT MADE IT CLEAR THAT AN ASSIGNMENT OF A MORTGAGE HAS NO EFFECT... IN 1872!

Monday, April 3, 2017

WARREN BUFFET'S #2 MAN THINKS WELLS FARGO'S FRAUD ACCOUNTS SCANDAL WAS A "GLITCH"



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They had it comin'.....They had it comin'...
They only had themselves to blame

If you'd a have been there...
If you'd a seen it...

I betcha you woulda done the same"
                          
                           "The Cell Block Tango"  from the Broadway Musical  "CHICAGO"



Most of us know that Warren Buffet is the famous grandfather looking cut throat business sage who owns/runs the behemoth Berkshire Hathaway. His 2nd in command is the lessor known, but still well known Charlie Munger.  Charlie Munger tried his best to sound serious when he noted that Wells Fargo had only done that one thing wrong and they had learned their lesson and their stock was in good shape.

WHAT!


NEXT UP!


Wells Fargo's 2nd criminal act with others to follow.  In no known order.  Much like their business model.








WELLS FARGO TO PAY $110 MILLION TO SETTLE OVER UNAUTHORIZED ACCOUNTS





When first I read the short interview below, I didn't know whether to fall down laughing or drive to their Berkshire Hathaway office in Nebraska and challenge them both to take me on in Office "front yard" wrestling.




I had over 100 ideas for articles that I wanted to get to right away but sometimes life gives you something to communicate the exact problem you are working on, even better than anything you could write.  So, you should steal it while you can.





My biggest problem in trying to make the public aware that ten million families have been displaced illegally from their homes (the definition of refugees) by the state and federal courts allowing the attorneys to steal the right to foreclose on a borrower who has the title to the home while providing no evidence (zero is not an exaggeration) of ownership of a home loan. 


Essentially, judges all over the country are arbitrarily, in the manner of Pontius Pilate, deciding in their own empty heads to hand homes belonging to families with title over to Servicers who have absolutely no ownership in the loan or the property.  I know, you think that is unbelievable and it kind of is. 

But walk six years in my shoes, (like I did) and watch countless couples hugging and crying in the hallways of the court houses with their own disbelief painted across their faces. But, their unbelievable is based on the court's complicity in corruption of base or root law.


The problem is that whole situation is unbelievable.  





A real smart attorney that I have known for 30 years told me awhile back, "Danny, I read what you sent me and you are right. You are right, but it is hard to grasp."





He continued, "The problem is that this issue is so big that you can't even see it.  It is like standing on the Earth and trying to see the Earth. Really the only way you can see the Earth is to go to the moon and look back.  But, you are right. It was just difficult for me to wrap my head around it.  


I will be proving this very soon here in this blog, but just take it with a grain of salt for the moment.

The short sighted American public believes that the news stories of the "improving" American economy are based on sound evidence and thorough vetting by the reporters. 

The same reporters who are working in the hugely competitive news journalism business and need to report complicated issues in 45 seconds.  



How did we get here?


As a "senior citizen" I can tell you that there have always been problems with dishonesty and fraud, but my generation got our news from only 3 TV sources and the local newspaper which were in a spotlight in which their stories had to be verified and sensationalism was left to the National Enquirer and a few others.  We got the news without the opinions.




In college I enrolled in a Philosophy class.  My professor was a man named H. Clay Jent. He taught us what he called and I still call today "The Foundations of Thought: The 13 Fallacies of Straight Thinking".  One of the principles was called "The Big Lie".  It is primarily based on the fact that most people believe everything they read, see or hear. They will believe it until something so solidly factual comes before them that is beyond challenge and then they see it as it is, not as it was first perceived. They will never forgive whoever lied to them.  Adolf Hitler was the example in the book.




Today we are bombarded with lies, half truths, deception and misrepresentation.  Then in the "I want it and I want it right now" world that I think was born with the fast food world started by McDonald's, but I suppose you could claim it was Henry Ford and his mass produced automobiles.  (but I digress, as my friends will tell you is a trait of mine).




Berkshire Hathaway is the largest stockholder in Wells Fargo Bank N.A.  The two of these jokers have been trying to use their huge reputations to assure all of us Americans that Wells Fargo is the best bank in the whole world when it comes to honest banking. Bull Shit!  Wells Fargo is tied for worst of the worst with 50 other of the notorious Lender/Servicer/Investment Banks  in one stinking heap.  























Charlie Munger, in the CNBC interview below, outrageously claims that "I don't think anything's fundamentally wrong in the long haul for Wells Fargo. They made a mistake," Munger said. "And it was an easy mistake to make. I don't regard setting incentives aggressively as a mistake. I think the mistake was, when the bad news came, they didn't recognize it directly and they'll be better for it," Munger said of the scandal. "One thing about doing something dumb is that you're unlikely to do it again."


WHAT? 

Wells Fargo has been fined repeatedly, They have been fined more than any other bond trading investment bank placing just 12 feet behind Bank of America for lying and cheating and committing felonious felonies (for which no individuals have been sent to jail). 

Wells Fargo even has a Wells Fargo Attorney Instruction Manual that instructs attorneys on how to Robo Sign Promissory Notes and assignments and such whenever such counterfeited and forged documents are needed.. (I will provide the whole thing here, it is quite long and stupefying.) and (I am not making this up).




I think Charlie Munger has become a drinking man.  



But, now it is time to really take a long look at Charlie's claim of "they only done it once, heck that doesn't make them criminals." "(that is not actually a known quote, it was slander on my part)"  But, it does make them criminals and as for how many crimes against American families that Wells Fargo Bank has committed, now I'm going to start showing you.

From the L.A. Times:


WELLS FARGO TO PAY $110 MILLION TO SETTLE OVER UNAUTHORIZED ACCOUNTS



James Rufus Koren of the LA Times- April 20, 2017


In the six months since Wells Fargo Bank N.A. acknowledged opening millions of accounts customers didn’t authorize, the bank has junked its old sales incentives, replaced its chairman and chief  executive, and paid $185 million in fines.


Bank customers, meanwhile, have received just $3.2 million in refunds. But soon they’ll be in line for much more.


On Tuesday, the bank agreed to pay $110 million to settle a class-action lawsuit filed two years ago, a deal that could also put to rest 11 other class-action cases, many filed after the bank’s thrown into the national spotlight last September.



The settlement, if approved by a federal judge in San Francisco, would provide payouts to all Wells Fargo customers who say they have been victims of the bank’s bad practices from 2009 until now.


Those payments would be on top of any money customers have already received as part of a settlement last year with the Los Angeles city attorney’s office and federal regulators.




So far the bank has paid refunds to holders of about 130,000 accounts. It’s not clear how many individual customers that represents, as many customers have complained of numerous unauthorized accounts opened in their name.



In a statement, Wells Fargo Chief Executive Tim Sloan called the agreement “another step in our journey to make things right with customers and rebuild trust.”



The settlement, which probably won’t be finalized until this summer, comes as Wells Fargo continues to face fallout from the accounts scandal first brought to light by a 2013 L.A. Times investigation.


Over the last several months, the company has seen a marked slowdown in its consumer business, with fewer customers visiting branches and opening new accounts.





In a report last week, the bank said credit card applications were down 53% in February compared with the same month last year, while customers opened 40% fewer checking accounts.


Regulators, too, are still punishing the bank. On Tuesday, in a separate announcement, Wells Fargo reported that the Office of the Comptroller of the Currency downgraded its Community Reinvestment Act rating, a measure of how well the bank serves low-income communities.




The OCC said it dropped the bank’s rating because of numerous regulatory actions, including the settlement over the unauthorized accounts.



Tuesday’s class-action deal has been in the works since September, when the bank and attorneys for Bay Area resident Shahriar Jabbari announced they had reached a tentative settlement in a case Jabbari brought on behalf of himself and other bank customers.



The federal suit, filed in May 2015 in San Francisco, alleged that Wells Fargo regularly opened unauthorized accounts, pushing employees to do so by tying their pay and job security to onerous sales goals.



It was filed shortly after L.A. City Atty. Mike Feuer made similar accusations in his own lawsuit, which led to probes by the Consumer Financial Protection Bureau and the Office of  the  Comptroller of the Currency. Those matters were put to rest when the bank agreed to pay $185 million in penalties in September.



The investigations found that from 2011 to last year, bank employees opened as many as 2 million checking, savings and credit card accounts that customers didn’t want or authorize.



The bank said in September that it had set aside $5 million to pay refunds to customers who were charged fees on unauthorized accounts, and has since pledged to take other steps to make customers whole.



“The $110-million settlement, if approved, will require Wells Fargo to repay the fees charged to class members by Wells Fargo for unauthorized accounts and provide millions of dollars of additional 

monetary relief to the class,” said Derek Loeser, one of the attorneys who negotiated the deal.



The settlement marks a dramatic legal turnaround for Wells Fargo customers, who have had little success in taking the bank to court over unauthorized accounts. The bank has successfully argued in several cases that customers cannot sue the bank and instead must resolve disputes in private arbitration.



It made the same argument in the Jabbari case.



Jabbari opened a Wells Fargo savings account and checking account in 2011, but by 2013 found he had seven additional accounts that he never authorized, according to his lawsuit. He said he received notices from collections agencies asking for fees owed to Wells Fargo related to those accounts.



He sued but U.S. District Judge Vince Chhabria agreed with Wells Fargo that the dispute should go to arbitration.



When the bank’s customers open accounts, they sign an agreement saying they will resolve all disputes with the bank in arbitration. Jabbari’s attorneys argued in court filings that customers “could not reasonably have believed that Wells Fargo would engage in unrelated, unlawful activity, and then shamelessly attempt to extend the arbitration provision to such activity.”



But Chhabria found otherwise, ruling that the arbitration clause Jabbari signed when opening a legitimate account covered all disputes between him and the bank, including over unauthorized accounts.



Jabbari's attorneys were preparing to appeal the case to the 9th Circuit Court of Appeals when they reached the tentative settlement agreement with Wells Fargo.



“We believe this is an outstanding result obtained for the benefit of a proposed nationwide class, notwithstanding Wells Fargo’s effort to block the class action with an arbitration clause,” said Loeser, a partner at law firm Keller Rohrback.



In a news release Tuesday, Wells Fargo said it chose to settle the Jabbari case despite the arbitration issue “in order to move forward and avoid continued litigation.”



The settlement marks the bank’s latest step to put the accounts scandal behind it.



The bank recently fired four senior managers, the highest-profile departures since former Chairman and CEO John Stumpf resigned last year. The bank also stripped top executives of their 2016 bonuses and revamped its incentive pay system so that workers are no longer pushed to open unwanted or unauthorized accounts.



The company’s board also hired an outside law firm to investigate the bank’s sales practices and has promised to release a detailed report in advance of the company’s shareholder meeting next month.






The bank remains under investigation by members of Congress and several state and federal agencies, which are looking for evidence of criminal identity theft, violations of labor law and other possible 




failings.



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CONTINUE READING DOWN THIS PAGE FOR MORE WELLS FARGO CRIMINAL GLITCHES








And this one, wait it is one the great Wells Fargo f*#ps of all time.  They are the 3rd biggest investment bank (can we say, "stockbrokers"?) and commercial bank combos, but honestly they always seem to be run by Groucho and Chico Marx.  I'm going to bring you the revelation (in Judge Arthur M. Schack's New York Kings County Supreme Court) I'll talk about him later, but he hated the servicers trying foreclose with no proof.  He mowed them down.  So, for Linda Terelli bankruptcy attorney, she drew a great judge. A Giant.  He died recently.  We have lost a wonderful advocate for the constitution, but I digress once again.)










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