Daily Archives: April 12, 2014

113th Congress: The least productive in history

“This has become the least productive Congress in modern history, recent memory. And that’s by objective measures, just basic activity.”—President Obama

There have only been 23 public laws enacted in the second session of the 113th Congress. Real sad. And don’t hold your breath for this do nothing Congress to bring back to Glass-Steagall Act bill when in fact the bank lobbyists write Congress’ finance bills.

Congress production 2

congress production 3

If Congress were the Board of Directors in a corporation or an employee with this kind of productivity, they would have been shown the door:



How hospitals are also affected by the “toxic loans”

How hospitals are also affected by the “toxic loans”

(Translated from French to English)

The Court of Auditors has made ​​public Friday, April 11, a report on the debt of public health institutions (EPS), alerting the tripling in ten years of this debt, which reached almost 30 billion euros, 20% borrowing “sensitive” Dexia, at the end of 2012 A shared responsibility, according to the Rue Cambon.:

“On one hand, governments have favored the lever of debtfinance a larger number of operations without establishingrigorous procedures for selecting investments, while reducing their controls.

On the other hand, hospital managers do not have enough registered their investments in a logic of efficiency and showed an overly optimistic view of the evolution of their revenue through pricing activity. “


This dramatic financial situation resulting from the implementation of plans and Hospital 2007 Hospital 2012, which led the institutions to fund themselves, evenresorting to structured risk products, the same today rot accounts many local communities.

“Apart from the risk of drying bank loans (…) Some EPS are particularly worrying still face exposure to higher-risk structured bonds, including the same level as local communities. “


Social Security, Treasury target taxpayers for their parents’ decades-old debts

Social Security, Treasury target taxpayers for their parents’ decades-old debts

I saw this on CBS news. The IRS could be going after the corporations that pay zero taxes instead of this federal employee. By the way, the collection of old debt was tacked into the Farm Bill.

A few weeks ago, with no notice, the U.S. government intercepted Mary Grice’s tax refunds from both the IRS and the state of Maryland. Grice had no idea that Uncle Sam had seized her money until some days later, when she got a letter saying that her refund had gone to satisfy an old debt to the government — a very old debt.

When Grice was 4, back in 1960, her father died, leaving her mother with five children to raise. Until the kids turned 18, Sadie Grice got survivor benefits from Social Security to help feed and clothe them.

Now, Social Security claims it overpaid someone in the Grice family — it’s not sure who — in 1977. After 37 years of silence, four years after Sadie Grice died, the government is coming after her daughter. Why the feds chose to take Mary’s money, rather than her surviving siblings’, is a mystery.

Across the nation, hundreds of thousands of taxpayers who are expecting refunds this month are instead getting letters like the one Grice got, informing them that because of a debt they never knew about — often a debt incurred by their parents — the government has confiscated their check.

The Treasury Department has intercepted $1.9 billion in tax refunds already this year — $75 million of that on debts delinquent for more than 10 years, said Jeffrey Schramek, assistant commissioner of the department’s debt management service. The aggressive effort to collect old debts started three years ago — the result of a single sentence tucked into the farm bill lifting the 10-year statute of limitations on old debts to Uncle Sam.


And this had happened to Bridget Galazkiewicz of Minooka:


By the way, the Farm Bill passed in House and Senate and passed again from both House and Senate after overriding the President’s veto: https://www.govtrack.us/congress/bills/110/hr6124


Witness: Farmer helped move money to deceive lenders

Witness: Farmer helped move money to deceive lenders

FRESNO — A former loan officer at Tower Lending — the mortgage brokerage of disgraced Crisp & Cole Real Estate — detailed in federal court Thursday how he believes mortgage fraud defendant Julie Farmer deceitfully used money and straw buyers to secure home loans.



Christopher Lance Stovall was testifying during the third day of Farmer’s trial in U.S. District Court in Fresno, where she faces multiple fraud charges related to a huge Bakersfield mortgage fraud scheme led by David Crisp and Carl Cole.



Farmer has maintained her innocence, saying she didn’t participate in or was aware of any fraudulent activity. Her attorney has bristled at any suggestion Farmer was part of any Crisp & Cole “scheme” as prosecutors allege.



Stovall testified Thursday morning about two transactions in which he said money had to be deposited into borrowers’ checking accounts to convince lenders they had adequate assets to buy homes. He said Farmer was the one who made sure the money was deposited.



Farmer was the No. 3 person at now-defunct Crisp & Cole and the only one of 15 defendants in the case to go to trial.


Law Firm of Rubin & Licatesi Defends Client Against Foreclosure in Robo-Signing Case

Law Firm of Rubin & Licatesi Defends Client Against Foreclosure in Robo-Signing Case

Long Island, NY (PRWEB) April 11, 2014

The Long Island law firm of Rubin & Licatesi, PC has successfully defended their client’s property against foreclosure efforts by a lender with evidence of “Robo-Signing” practices by the bank.

In the case of Countrywide Home Loans, Inc. v. Harold Levinson [Index No: 2007-25351], Countrywide began this foreclosure action in 2007. In a recent decision before the Honorable Justice Spinner, Supreme Court, Suffolk County, the court ruled that Countrywide may not have standing to proceed in this lawsuit with its mortgage foreclosure action. The Plaintiff allegedly participated in questionable “robo-signing” procedures and may have acted “fraudulently, dishonestly, in bad faith or in an unconscionable manner,” as stated in that decision.

Countrywide’s application for judgment of foreclosure was subsequently denied.

“Our client was in default for many years and was concerned about the loss of his rights and his home. He hired our firm to defend against the foreclosure of his home in a” Robo-Signing case,” said firm partner Richard Rubin. “We are proud that our client was granted the right to voice and protect his rights and that the Robo-Signing issues will be openly brought to light.


Facing New Rules, Banks Take Foreclosures to Court

Facing New Rules, Banks Take Foreclosures to Court

Lenders are increasingly using U.S. courts to foreclose on delinquent homeowners in states where it’s not required to reduce the risk of falling afoul of new protections.

In the first quarter, banks filed 2,348 court notices in non-judicial states, which don’t require court involvement, according to data compiled by Irvine, California-based mortgage data providerRealtyTrac Inc. That compares with only seven notices in the first quarter of 2013. The shift to the courts comes after laws were passed in states such as California and Hawaii that give consumers new tools to fight foreclosure, said RealtyTrac Vice President Daren Blomquist.

“Going through the judicial process now protects lenders,” said Thomas Lawler, a housing consultant and former chief economist at Fannie Mae. “Even though it takes longer, all sorts of eyes starting with the judge’s will reduce the likelihood of mistakes and potential liability under new foreclosure laws.”