Tag: Citigroup

Oct 05

Grayson Untangles the Web of Fraud in the ‘Foreclosure Mills’

Citigroup, Ally Sued for Racketeering Over Database


By Margaret Cronin Fisk and Thom Weidlich – Oct 4, 2010

Citigroup Inc. and Ally Financial Inc. units were sued by homeowners in Kentucky for allegedly conspiring with Mortgage Electronic Registration Systems Inc. to falsely foreclose on loans.

The lawsuit, filed as a civil-racketeering class action on behalf of all Kentucky homeowners facing foreclosure, also names as a defendant Reston, Virginia-based MERS, the company that handles mortgage transfers among member banks. The suit claims that through MERS the banks are foreclosing on homes even when they don’t hold titles to the properties.


The homeowners claim the defendants filed or caused to be filed mortgages with forged signatures, filed foreclosure actions months before they acquired any legal interest in the properties and falsely claimed to own notes executed with mortgages.

Forgery is No Joke.

Neither is being evicted, by Banks who ‘really don’t own’ your Home.

May 07

Senate Saves Too Big To Fail, Orders Another Iceberg

Yippee !  Wall Street is saved !

Senator Sherrod Brown’s (D OH)  amendment 3733 on the Financial Stability Act bill, to break up the Big 6 Banks into smaller ones that couldn’t take down the entire nation’s economy if they failed, itself did not pass the vote in the Senate this evening, failing by a spectacular 61 noes to 33 yeas, with 6 senators too timid to approach the subject.


Not all bought and paid for yet:

YEAs — 33 votes

Begich (D-AK)

Bingaman (D-NM)

Boxer (D-CA)

Brown (D-OH)

Burris (D-IL)

Cantwell (D-WA)

Cardin (D-MD)

Casey (D-PA)

Coburn (R-OK)***** Republican

Dorgan (D-ND)

Durbin (D-IL)

Ensign (R-NV)

Feingold (D-WI)

Franken (D-MN)

Harkin (D-IA)

Kaufman (D-DE)

Leahy (D-VT)

Levin (D-MI)

Lincoln (D-AR)

Merkley (D-OR)

Mikulski (D-MD)

Murray (D-WA)

Pryor (D-AR)

Reid (D-NV)

Rockefeller (D-WV)

Sanders (I-VT)

Shelby (R-AL)*****   Republican

Specter (D-PA)*****  ex Republican

Stabenow (D-MI)

Udall (D-NM)

Webb (D-VA)

Whitehouse (D-RI)

Wyden (D-OR)

_______________________ end of people who don’t like Great Depressions and financial chaos

___________   Begin list of Senators who liked that Citizens United Ruling by the Supreme Court:

NAYs — 61

Akaka (D-HI)

Alexander (R-TN)

Barrasso (R-WY)

Baucus (D-MT)  a small, cold, scenic state of tiny population,  which votes with Utah.  wtf.

Bayh (D-IN)  does you wife get more insura/pharma stock options for this ?

Bennet (D-CO)

Bond (R-MO)

Brown (R-MA)

Brownback (R-KS)

Burr (R-NC)

Carper (D-DE)   meh. typical.

Chambliss (R-GA)

Cochran (R-MS)

Collins (R-ME)

Conrad (D-ND)

Corker (R-TN)

Cornyn (R-TX)

Crapo (R-ID)

Dodd (D-CT)  looking for that Golden Parachute……

Enzi (R-WY)

Feinstein (D-CA)  meh.

Gillibrand (D-NY)  really, Kirsten, how could you

Graham (R-SC)

Grassley (R-IA)

Gregg (R-NH)

Hagan (D-NC)

Hatch (R-UT)

Hutchison (R-TX)

Inhofe (R-OK)

Inouye (D-HI)

Isakson (R-GA)

Johanns (R-NE)

Johnson (D-SD)

Kerry (D-MA) meh. first no public option, an excise tax, and now this.   you still suck.

Klobuchar (D-MN)

Kohl (D-WI)

Kyl (R-AZ)

Landrieu (D-LA)  say, how’s the Gulf doing, Ms. Mary of Louisiana?

Lautenberg (D-NJ)

LeMieux (R-FL)

Lieberman (ID-CT)  suing Atty General Holder over the tragic Ft Hood shooting information release, too

McCain (R-AZ)

McCaskill (D-MO) midwestern Blew Dawg who thinks she’s a hot shot financial whiz.  ya huh. not.

McConnell (R-KY)

Menendez (D-NJ)

Murkowski (R-AK)

Nelson (D-FL)

Nelson (D-NE)  at least he’s consistently not on our side

Reed (D-RI)

Risch (R-ID)

Roberts (R-KS)

Schumer (D-NY)  wants to be next Majority Leader after making us all get biometric cards. Swell.

Sessions (R-AL)

Shaheen (D-NH)

Snowe (R-ME)

Tester (D-MT)  meh. These netroots Dems.

Thune (R-SD)

Udall (D-CO)

Voinovich (R-OH)

Warner (D-VA)

Wicker (R-MS)

__________________   chickenhearts

Not Voting – 6  

Bennett (R-UT)

Bunning (R-KY)

Byrd (D-WV)  okay, you’re old and frail.  pass. barely.

DeMint (R-SC)

Lugar (R-IN)

Vitter (R-LA)  you don’t have enough diapers to clean anything up

Oct 11

When Robber Barons meet Muckrakers …

There is a clash of titan forces taking place in the American Economy right now. It’s a tale as old as Greed itself.  

It is the tale of the “Powers that Be” running into the watchful eyes of the “World that Should Be”.

The story involves how corporate Robber Barons avoid the watchful glare of the citizen Muckrakers.  

It is the tale of Deception and Greed vs Honesty and Fairness …

Oct 04

The Plutonomy — aka. that Top One Percent

I’m just back from seeing Michael Moore’s new movie, “Capitalism – A Love Story”.

It was moving, funny, and educational, all rolled into one. It made me feel both, proud and sad, to be an American. … but it’s recommended viewing if you still want to take OUR Country back, from the Powers that Be.

There are many lessons to be learned from the film — But the one that struck me, the one I’m motivated to write about now —

Is the Lesson of Plutonomy …

Jan 17

Companies get bailout billions, hide billions in tax havens


The Goverment Accountability Office (GAO) released a report (pdf) on Friday detailing how the biggest U.S. companies are using offshore tax havens to avoid being responsible corporate citizens. The GAO summary explains:

Many U.S. corporations operate globally and have foreign subsidiaries… In some cases they may be used to reduce taxes…

Eighty-three of the 100 largest publicly traded U.S. corporations in terms of 2007 revenue reported having subsidiaries in jurisdictions listed as tax havens or financial privacy jurisdictions. Sixty-three of the 100 largest publicly traded U.S. federal contractors…

Not only that, but many of these corporations have received billions in federal bailout money and Senators Byron Dorgan (D-ND) and Carl Levin (D-MI) estimate this corporate tax exploit shifts $100 billion tax responsibility to other taxpayers in the form of loss tax revenue.  

Nov 25

Welcome to Docudharma Stadium

Congratulations fellow taxpayers!  The federal bailout of Citigroup comes with some perks you may have overlooked.  Citigroup has a contract for the naming rights to a new baseball stadium for the New York Mets.  A mere $400 million buys the name “Citi Field” for 20 years:

Under the naming-rights agreement, Citi pays the Mets $20 million a year. What is not known is if Citi could get out of the agreement through a buyout or escape clause. Citi officials insisted on Friday that baseball games would be played in 2009 with the Citi Field sign on the new stadium.

What perks do we get for our bailout of Citi?  Well, it only seems fair that if it’s our money paying for the naming rights, we should get to choose the name!  With so many taxpayers involved, however, agreeing on one name would be difficult.  So I propose a revolving name system for the Mets’ field, where all taxpayers get a chance to have the stadium named after them for one game.

Nov 25

Capitalist Follies: Rancheros Visitadores, Citigroup, and the CIA

A posting the other day, quoting Chris Floyd on the machinations of the U.S. power elite, prompted a regular reader of mine to send a very interesting link to a story a friend of his worked on over the past few years.

As reported by Seattle Post-Intelligencer columnist Joel Connolly, Alejandro Tomas, a senior faculty member at Seattle Central Community College, has assembled a startling photo essay on one of the conclaves where the rich and privileged meet. The horse ride known as Rancheros Visitadores takes place every May in the Santa Ynez Valley near Santa Barbara, Calif. The event is one of those elite conclaves that take place annually. The best known is probably the Bohemian Grove gathering near the Russian River in Northern California.

Connolly describes the doings at Rancheros Visitadores, where no women are allowed (except maybe prostitutes):

Oct 18

10% of $700 billion bailout to cover Wall Street banker pay and bonuses

One tenth of the $700 billion bailout to be footed by U.S. taxpayers is projected to go to the pay and bonuses of Wall Street bankers. The same captains of finance who sent the world into a financial meltdown are now going to be rewarded handsomely.

The Guardian has found that the Top Wall Street bankers are to receive $70 billion in pay deals.

Financial workers at Wall Street’s top banks are to receive pay deals worth more than $70bn (£40.4bn), a substantial proportion of which is expected to be paid in bonuses, for their work so far this year – despite plunging the global financial system into its worst crisis since the 1929 stock market crash…

Staff at six banks including Goldman Sachs and Citigroup will pick up the payouts despite being the beneficiaries of a $700bn bail-out from the US government that has already prompted widespread criticism. The government cash has been poured in on the condition that excessive executive pay will be curbed.