Ex-Deutsche Trader Pleads Guilty To Role In Libor Plot

Deadly Clear:

Wouldn’t you like to be a fly on e inside of this deal?! Oh, but only to have the chance to read the depositions and transcripts!

Originally posted on Justice League:

Law360, New York (October 8, 2015, 5:59 PM ET) — A former Deutsche Bank currency trader pled guilty Thursday in New York federal court to charges alleging an eight-year plot to manipulate the published value of the key Libor interest rate, the U.S. Department of Justice said.

Prosecutors say Deutsche Bank senior trader Michael Curtler reported false information used in the calculation Libor. (Credit: AP) Michael R. Curtler, 43, was released on a personal recognizance bond on Thursday, according to court records, after pleading guilty to one count of conspiracy to commit wire fraud and bank…

Source: Law360

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Senator Brown Inquiry Targets Banks, Wall Street Settlements

Deadly Clear:

Dear Senator Brown (Sherrod) –

The behavior is not going to change until you confiscate, rescind and destroy the patented software programs that all the banks have integrated into their businesses. From the 1003 loan application to the sale of the foreclosed home – the entire system is seamlessly automated.

You can’t expect business to change until you destroy the system the banks are using. Sherrod, you are one of the brightest politicians we have in DC – do you not understand what is truly happening here? We’re not dealing with human bankers’ errors – the massive patented (in the USPTO) scheme is controlled by computers. The entire system is patented so that anything that even resembles a mortgage loan is violating somebody’s patent that all the banks share or have licensed for use. Maybe it’s a little like anti-trust without regulations?!

Originally posted on Justice League:

Banking Committee member Sherrod Brown wants to know whether banks changed any behavior after penalties

WSJ (sub. req.):

A powerful Democratic senator has launched an inquiry into bank misconduct, asking top financial institutions to turn over information about the settlements they have entered into with federal agencies over the past decade. Sherrod Brown of Ohio, the top Democrat on the Senate Banking Committee, asked banks in a letter dated Sept. 30 to to provide details of any “legally enforceable judgment, agreement, settlement, decree or order dated January 1, 2005 to the present,” involving 15 federal agencies including the Department of Justice, the Federal Reserve, the Securities and Exchange Commission, and several Treasury Department units. The inquiry could add fuel to growing criticism by lawmakers and others that such settlements have failed to deter repeated bank misbehavior.

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Originally posted on Clouded Titles Blog:

I highly recommend you check your area listings for showtimes and go see this movie!   Despite the fact that many in the “industry” will be in denial over the issues expressed in the movie, what happened here has happened to countless families across America.  See the 99 Homes trailer by clicking on the following link:

99 HOMES Trailer

Also, please see the latest press release from The Foreclosure Hour about this Sunday’s broadcast here: 2015-10-7 SOL Press Release10-7-2015

I can’t wait for The Big Short to come out this Christmas.  Should be interesting.

As to the areas 99 Homes is playing in, you may have to expand your search to within 100 miles, as this movie has not been picked up by all the major players in the distribution chain.  In other words, you may have to drive an hour to see it, but it debuts nationally, tonight.  Support…

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Potential Criminal Law Violations Discovered in Recent Historic Recording Office Mortgage Fraud Investigations

TFH logo2Honolulu, HI, October 7, 2015– COMING THIS SUNDAY – The Foreclosure Hour, hosted by attorneys Gary Dubin and former Hawaii Governor John Waihee, will identify for the first time numerous federal statutes that extend the time allowed to prosecute bank executives for mortgage fraud. Their special guests will include Marie McDonnell of McDonnell Property Analytics who recently concluded the controversial land records audit for the Seattle City Council, Seattle, WA and Dave Krieger, author of Clouded Titles and Coordinator of the Osceola County, Florida Land Record Forensic Examination.

“Two of my recommendations to the Seattle City Council involve going after criminal violations and implementing a residential mortgage fraud statute,” remarked Marie McDonnell.

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Ben Bernanke Blames Congress For Poor Economic Recovery

Deadly Clear:

So do we.

Originally posted on Justice League:

Doesn’t take personal responsibility…Bernanke needs to crawl back under the rock with Greenspan…

Here’s FT with Bernanke’s take:

The former chairman of the Federal Reserve has hit out at Congress for failing to do its part to bolster America’s rebound from the financial crisis, saying the US central bank had been unfairly criticised when the recovery “failed to lift all boats”.

In his newly published memoir, Ben Bernanke admitted the Fed had failed to spot some of the dangers building before the financial crash, and said that the controversial rescues of Bear Stearns and the insurance company AIG had damaged its political standing and “created new risks to its independence”.

As suggested by the title of his book, The Courage to Act, Mr Bernanke argues that the Fed’s policies under his leadership were justified and helped usher in a stronger recovery than in many other countries. He draws a…

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Hillary Clinton to Announce Plan to Rein in Wall Street ‘Abuses’

Deadly Clear:

Well, we have to give her the opportunity to express her program… But, meanwhile – just remember all the promises Obama made…

Originally posted on Justice League:

U.S. Democratic presidential candidate Hillary Clinton said Tuesday that she will lay out her plan to rein in Wall Street “abuses” within the next week.

“I’m going to be proposing in the next week what I think will be the best way to go after Wall Street abuses and rein in the too-big-to-fail banks and other institutions,” Clinton said at an Iowa campaign stop.

Clinton said her plan would focus on more than banks, taking into account any kind of financial institution that causes disruption in the marketplace.

“What I’m proposing is that we go after the risk,” Clinton said. “If they are so big that they are causing disruptions in the marketplace, that’s a risk. So I have what I consider to be a more comprehensive approach toward what we need to do to rein in the big institutions, including the banks.”

Clinton also indicated that she would address…

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Investment banker’s suicide highlights pressures industry brings

Originally posted on Justice League:

Since January 2014, HousingWire has reported on what appears to be a tragic trend of suicides and mysterious deaths of financial executives and bankers.

Here is just a little of our past coverage.

Third prominent banker found dead in six days

More details emerge about three bankers who died in six days

Fourth suicide for finance executive under investigation

JPMorgan global program trading exec, dead at 37

Fifth financial executive with ties to JPMorgan found dead

London authorities open investigation into banker deaths

Death of banker under mysterious circumstances makes 36 in 2014

Now, the New York Times profiles a young investment banker who tragically took his own life, and the circumstances that may have contributed to it.

In retrospect, it was around Easter that John Hughes began to think something unusual was going on with his middle son, Thomas, a 29-year-old investment banker.

John’s former wife, Marypat, had arranged…

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Ben Bernanke Says More People Should Have Gone To Jail For Causing The Great Recession

Originally posted on Justice League:

Gee ya think, Ben? Now that the statute of limitations is up, everybody wants to talk tough against Wall Street!


First, tomorrow Ben Bernanke will be on CNBC’s Squawk Box to promote his book, the same CNBC which from a credible financial channel has metamorphosed into an outlet whose only purpose is to cheerlead the stock market and get as many people invested in the next and final Ponzi as possible. He will also discuss the disastrous state of the post-post-bubble economy and the latest plunge in payrolls.

Second, today as part of the same book promotion tour (supposedly because nobody wants to pay Bernanke $250,000 to listen to an hour of bullshit now that the Fed no longer has credibility) he had this exchange with the USA Today’s Susan Page:

Q. Should somebody have gone to jail.

Bernanke: Yeah, yeah I think so. I have objected for…

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Ireland …..a caring society???? Really!….help me prove it!

Deadly Clear:

Please share. Let’s show the world Homeowners care.

Originally posted on Awaken Longford:

Six weeks ago next Wednesday was the day a family in Kells Co.Meath had their world fall down Kells Eviction 2around them, it was the day the Sheriff arrived in the early morning to evict them from their home without warning, in the clothes they stood in.

A mother was dragged out in front of her ten-year old son while his blind father listened, helpless to do anything, standing in his bare feet on the cold wet ground, without even his cane.

This is horrific enough in itself, so bad that it shocked me into action and having investigated the circumstances I found that sixty-eight thousand five hundred euro was the figure needed to secure this family home (bearing in mind a recent report states that the average cost of evicting a family from their home is €60,000) and I thought, ” surely there are 680 people either in or out of…

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Countrywide COO who took rap for 2008 crisis prepares her appeal

Originally posted on Justice League:

Rebecca Mairone scarcely deserves a mention in the annals of finance, except for this: She’s the only executive of a major U.S. mortgage lender found liable for her part in the 2008 financial crisis.

Mairone was chief operating officer for a division of Countrywide Financial Corp., the California giant that came to symbolize the excesses of the subprime era. While top executives there and elsewhere walked away, Mairone, now 48, was targeted in a civil case by federal prosecutors. In October 2013, a Manhattan jury found her liable for misrepresenting the quality of mortgages her company sold to Fannie Mae and Freddie Mac. U.S. District Judge Jed Rakoff called her testimony “implausible” and slapped her with a $1 million fine. Bloggers said she helped destroy the U.S. economy and should be jailed or worse.

Two years later, Mairone is heading back to court in an attempt to overturn that ruling…

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