http://4closurefraud.org/2009/10/21/mers-info-discovery-submissions-interrogatories/
Oh this is just to rich. You have to read it.
MERS has 1000 prefered shared of stock as well as 1000 shares of common stock issued.
It would be very interesting to know who the holders were.
MERS just blew up the banks
Showing posts with label Citibank. Show all posts
Showing posts with label Citibank. Show all posts
Sunday, October 3, 2010
Saturday, October 2, 2010
Noterize this the brewing foreclosure storm
http://www.huffingtonpost.com/jennifer-brunner/notarize-this-the-brewing_b_747461.html
Another must read, by Ohio Secretary of State Jennifer Brunner
Under today's financial schemes, foreclosure documents are routinely created to demonstrate the transfer of the interest in the note so the right person brings the foreclosure lawsuit. In the case of Chase Home Finance, LLC, its Columbus, Ohio employee, Beth Cottrell, testified in her deposition that she helps create foreclosure documents by signing on behalf of the banks and financial institutions (including MERS) that have been involved. Then, a small group of notaries at Chase notarize her and others' signatures on various foreclosure documents (about 18,000 documents a month at Chase Home Finance, LLC).
While serving as a Chase Home Finance, LLC employee, Beth Cottrell's name has appeared in foreclosure affidavits from 2008 through 2010 in the Florida court system on documents showing mortgage amounts owed on behalf of Wells Fargo, U.S. Bank, Federal National Mortgage Association, HSBC, Deutsche Bank, People's Choice Home Loan, Wachovia and Citi, even though she was an employee of Chase Home Finance, LLC in Columbus.
In Ohio, I read two depositions of Beth Cottrell taken in Columbus, Ohio in May of this year, about a Florida foreclosure. I was frankly chagrined to read her description of the notary activity to process the 18,000 documents a month by the company she works for alone--using just eight notaries. In her deposition, Ms. Cottrell's stated that: no oath is administered for the signing of each document; notaries (not signers) are filling in numbers in the affidavits used in court ordered foreclosures; notarized documents are not verified by the person signing them, but rather, signers are relying on verification by others, and notaries know this at the time they notarize documents; and large numbers of documents are signed in bulk and notarized in bulk separately.
Another must read, by Ohio Secretary of State Jennifer Brunner
Under today's financial schemes, foreclosure documents are routinely created to demonstrate the transfer of the interest in the note so the right person brings the foreclosure lawsuit. In the case of Chase Home Finance, LLC, its Columbus, Ohio employee, Beth Cottrell, testified in her deposition that she helps create foreclosure documents by signing on behalf of the banks and financial institutions (including MERS) that have been involved. Then, a small group of notaries at Chase notarize her and others' signatures on various foreclosure documents (about 18,000 documents a month at Chase Home Finance, LLC).
While serving as a Chase Home Finance, LLC employee, Beth Cottrell's name has appeared in foreclosure affidavits from 2008 through 2010 in the Florida court system on documents showing mortgage amounts owed on behalf of Wells Fargo, U.S. Bank, Federal National Mortgage Association, HSBC, Deutsche Bank, People's Choice Home Loan, Wachovia and Citi, even though she was an employee of Chase Home Finance, LLC in Columbus.
In Ohio, I read two depositions of Beth Cottrell taken in Columbus, Ohio in May of this year, about a Florida foreclosure. I was frankly chagrined to read her description of the notary activity to process the 18,000 documents a month by the company she works for alone--using just eight notaries. In her deposition, Ms. Cottrell's stated that: no oath is administered for the signing of each document; notaries (not signers) are filling in numbers in the affidavits used in court ordered foreclosures; notarized documents are not verified by the person signing them, but rather, signers are relying on verification by others, and notaries know this at the time they notarize documents; and large numbers of documents are signed in bulk and notarized in bulk separately.
Monday, July 26, 2010
Goldman reveals where bailout cash went
http://www.usatoday.com/money/industries/banking/2010-07-24-goldman-bailout-cash_N.htm
By Karen Mracek and Thomas Beaumont, Des Moines Register
It's enough to make you sick.
Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions, according to information made public Friday night.
"We thought originally we were bailing out AIG. Then later on ... we learned that the money flowed through AIG to a few big banks, and now we know that the money went from these few big banks to dozens of financial institutions all around the world."
Grassley said he was reserving judgment on the appropriateness of U.S. taxpayer money ending up overseas until he learns more about the 32 entities.
Goldman Sachs (GS) received $5.55 billion from the government in fall of 2008 as payment for then-worthless securities it held in AIG. Goldman had already hedged its risk that the securities would go bad. It had entered into agreements to spread the risk with the 32 entities named in Friday's report.
Overall, Goldman Sachs received a $12.9 billion payout from the government's bailout of AIG, which was at one time the world's largest insurance company.
Goldman Sachs also revealed to the Senate Finance Committee that it would have received $2.3 billion if AIG had gone under. Other large financial institutions, such as Citibank, JPMorgan Chase and Morgan Stanley, sold Goldman Sachs protection in the case of AIG's collapse. Those institutions did not have to pay Goldman Sachs after the government stepped in with tax money.
Goldman had not disclosed the names of the counterparties it paid in late 2008 until Friday, despite repeated requests from Elizabeth Warren, chairwoman of the Congressional Oversight Panel.
"I think we didn't get the information because they consider it very embarrassing," Grassley said, "and they ought to consider it very embarrassing."
By Karen Mracek and Thomas Beaumont, Des Moines Register
It's enough to make you sick.
Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions, according to information made public Friday night.
"We thought originally we were bailing out AIG. Then later on ... we learned that the money flowed through AIG to a few big banks, and now we know that the money went from these few big banks to dozens of financial institutions all around the world."
Grassley said he was reserving judgment on the appropriateness of U.S. taxpayer money ending up overseas until he learns more about the 32 entities.
Goldman Sachs (GS) received $5.55 billion from the government in fall of 2008 as payment for then-worthless securities it held in AIG. Goldman had already hedged its risk that the securities would go bad. It had entered into agreements to spread the risk with the 32 entities named in Friday's report.
Overall, Goldman Sachs received a $12.9 billion payout from the government's bailout of AIG, which was at one time the world's largest insurance company.
Goldman Sachs also revealed to the Senate Finance Committee that it would have received $2.3 billion if AIG had gone under. Other large financial institutions, such as Citibank, JPMorgan Chase and Morgan Stanley, sold Goldman Sachs protection in the case of AIG's collapse. Those institutions did not have to pay Goldman Sachs after the government stepped in with tax money.
Goldman had not disclosed the names of the counterparties it paid in late 2008 until Friday, despite repeated requests from Elizabeth Warren, chairwoman of the Congressional Oversight Panel.
"I think we didn't get the information because they consider it very embarrassing," Grassley said, "and they ought to consider it very embarrassing."
Thursday, May 6, 2010
Banks Hemorrhage Cash With Cards Wanting to Be American Express
http://www.bloomberg.com/apps/news?pid=20601109&sid=alqIrcJYUnP8
How for the cost of 400 jobs, changed the course of our lives
-- William “Wild Bill” Janklow’s law office in Sioux Falls, South Dakota, is crowded with mementos from his 16 years as a Republican governor. On a low, wooden bookcase, near bottles of hot sauce custom labeled for his annual Buffalo Roundup, he keeps a 4-foot length of red ribbon festooned with Citibank credit cards.
Janklow is the politician who, in 1981, brought Citibank to South Dakota. When he cut that ribbon to welcome the New York- based bank, he blew the lid off the U.S. credit card business, Bloomberg Markets reports in its June Issue.
The law inviting Citibank to South Dakota threw out limits on how much interest the state’s banks could charge borrowers -- rules known as usury caps.
“Citi wanted the invitation, and they knew what we were doing with rates,” Janklow says. In a secret meeting at the governor’s residence with Walter Wriston, chief executive officer of Citicorp, the bank’s parent, Janklow agreed to drive through the legislation in a swap for 400 jobs.
“That was the deal,” Janklow says. “You have no idea, in a state of 750,000, how many 400 jobs is, all in one place.”
The business Janklow and Wriston set in motion with a handshake that evening transformed U.S. consumer lending. Once interest rates were allowed to rise as high as banks could push them, credit cards became a ticket to enormous profit. In the decade ended on Dec. 31, 2007, credit card issuers together earned more than $50 billion, mostly on the difference between their own cost of money and consumer rates of as much as 30 percent. So-called subprime lenders pitched rates as high as 80 percent. At JPMorgan Chase & Co., cards accounted for 20 percent of both revenue and profits in 2007.
Profit Driver
How for the cost of 400 jobs, changed the course of our lives
-- William “Wild Bill” Janklow’s law office in Sioux Falls, South Dakota, is crowded with mementos from his 16 years as a Republican governor. On a low, wooden bookcase, near bottles of hot sauce custom labeled for his annual Buffalo Roundup, he keeps a 4-foot length of red ribbon festooned with Citibank credit cards.
Janklow is the politician who, in 1981, brought Citibank to South Dakota. When he cut that ribbon to welcome the New York- based bank, he blew the lid off the U.S. credit card business, Bloomberg Markets reports in its June Issue.
The law inviting Citibank to South Dakota threw out limits on how much interest the state’s banks could charge borrowers -- rules known as usury caps.
“Citi wanted the invitation, and they knew what we were doing with rates,” Janklow says. In a secret meeting at the governor’s residence with Walter Wriston, chief executive officer of Citicorp, the bank’s parent, Janklow agreed to drive through the legislation in a swap for 400 jobs.
“That was the deal,” Janklow says. “You have no idea, in a state of 750,000, how many 400 jobs is, all in one place.”
The business Janklow and Wriston set in motion with a handshake that evening transformed U.S. consumer lending. Once interest rates were allowed to rise as high as banks could push them, credit cards became a ticket to enormous profit. In the decade ended on Dec. 31, 2007, credit card issuers together earned more than $50 billion, mostly on the difference between their own cost of money and consumer rates of as much as 30 percent. So-called subprime lenders pitched rates as high as 80 percent. At JPMorgan Chase & Co., cards accounted for 20 percent of both revenue and profits in 2007.
Profit Driver
Tuesday, March 9, 2010
Citibank exposes 600,000 customers' Social Security numbers
http://newsblogs.chicagotribune.com/...y-numbers.html
Ralph Remakel received a Citibank letter postmarked Feb. 16 that notified him of a recent Citibank error. It turns out he wasn't the only one.
In late January, Citibank mailed year-end tax statements to 600,000 Citi customers via the U.S. Postal Service that included the customers' Social Security numbers ... on the outside of the envelope.
Citi called the mistake a "processing error
Ralph Remakel received a Citibank letter postmarked Feb. 16 that notified him of a recent Citibank error. It turns out he wasn't the only one.
In late January, Citibank mailed year-end tax statements to 600,000 Citi customers via the U.S. Postal Service that included the customers' Social Security numbers ... on the outside of the envelope.
Citi called the mistake a "processing error
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