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Article > White Collar Crime

 

Article kindly provided by Bobby Gill

www.bobbygill.co.uk

Coming to a home near you soon? Or actually ask your friends and family because the white-collar criminals are likely already operating in your street lurking in the shadows!

If you've got such stories about UK Banks, then write in and let us know - the last thing they want is people discussing their crimes in public even though they're spending the public's money and harassing those very same people!


"Robo-signed documents, false affidavits and failure to notify defendants are just a few of the ways banks and their lawyers are accused of mishandling foreclosures."

When these things are happening there would naturally be investigations into these crimes and corporate frauds - but the Police and justice departments are not interested in pursuing them.

Why would that be when the crimes are so public?

Why do criminal Bankers have no limits on what they will do and then seem to be exempt from investigation? Maybe it is because they think they are 'above the law' and have 'unlimited' government funding that they do what they want.

So what is white collar crime?

"Within the field of criminology, white-collar crime has been defined by Edwin Sutherland as "a crime committed by a person of respectability and high social status in the course of his occupation" (1939). Sutherland was a proponent of Symbolic Interactionism, and believed that criminal behavior was learned from interpersonal interaction with others. White-collar crime, therefore, overlaps with corporate crime because the opportunity for fraud, bribery, insider trading, embezzlement, computer crime, copyright infringement, money laundering, identity theft, and forgery are more available to white-collar employees." - http://en.wikipedia.org/wiki/White-collar_crime

It looks like Bankers are in the perfect place to be taking 'money' home with them.

They even have systems in place and what looks like 'agreements' with lawyers, courts and judges to allow their paperwork pass through the system whilst the little guy gets stomped on!

Here's just some of the things they are up to:-

Wall St Banks have been caught stealing homes through fraudulent foreclosures.

  • They are moving people out of their homes before foreclosure completes, even emptying homes of possessions.
  • Telling people they have to be in arrears before they will help under new anti-foreclosure laws, then foreclosing because they are in arrears.
  • When people call for help the people are given fake phone numbers to get help.
  • Using illegal document to get foreclosures.
  • Faking foreclosure documents.
  • Foreclosing on homes that have been paid off.
  • Even setting up boiler room courts to rush them through.

Get more info and read about the crimes at:
http://warintel.blogspot.com/2010/12/wall-st-banks-steal-homes-with-impunity.html
http://www.rollingstone.com/politics/news/matt-taibbi-courts-helping-banks-screw-over-homeowners-20101110

In this story Bank of America 'steals ashes of dead husband and ransacks house' after foreclosure.
"A bank has been accused of unlawfully seizing the ashes of a dead husband from his grieving widow’s home. Bailiffs working for the Bank of America are said to have broken into the Mimi Ash’s house during a foreclosure before ransacking the place. And, according to a U.S. lawsuit, they helped themselves to family and childhood photographs along with her son’s ski medals while cleaning out the entire house. Ira Rheingold, executive director of the National Association of Consumer Advocates, said that bank errors were happening all the time. She said: ‘Every day, smaller wrongs happen to people trying to save their homes: being charged the wrong amount of money, being wrongly denied a loan modification, being asked to hand over documents four or five times." Read more at: http://www.dailymail.co.uk/news/article-1340863/Bank-America-steals-ashes-dead-husband-ransacks-house.html

These small wrongs compound to great injustices!

Yes, this what is really happening. It's not a perfect world out there and it is time for people to support each other, share the truth and fight back against the white collar crime that is increasing around you all the time.

Bobby

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Watch this video below to see the deals that American banks are getting and would you be surprised if the same was happening in the UK and worldwide?

It may be a year old but it's still relevant today. Stay informed and share the information. Homes are for living in, humans for being treated respectfully and Bankers, well I'll let you figure out what they are good for...

See how they play the numbers game to show that profits are more important than people! Those Indymac boys were given deal by the FDIC, and borrowers were strong-armed.

 

Transcript: "Does the Government REALLY want to fix this financial mess we're in?

Like many banks during the world financial meltdown in 2008, IndyMac closed it doors. Months later, its assets were seized by the FDIC and sold to OneWest Bank by the US Government.

Well, guess who owns OneWest Bank: That would be Goldman Sachs; with bigtime VP Stephen Munchen and bigtime investors, George Soros and John Paulson - of no blood relation to ex-CEO of Goldman Sachs, Hank Paulson - who would be the ex-Secretary of the Treasury.

All IndyMac's residential property mortgages were purchased by OneWest at 70% of their value; all HELOCs were purchased at 58% percent of the value.

But just in case the OneWest guys would feel cozy and warm, the FDIC stepped in and decided to cover 80% to 90% of the losses, due to short sale or foreclosures that they might incur from those naughty IndyMac-mortgaged homeowners...

The reason why we think you should know about this case is because the Loss Calculations are based on the ORIGINAL home mortgage and NOT the 70% of the ORIGINAL value at which it was purchased by OneWest.

This is an actual sample case from one of our TBWS viewers…now, this is going to get your blood boiling!

Take an actual loan $478,000 + 6 months of missed payments for a grand total of $485,200. OneWest Bank paid 70% or $334,600 for that loan. ($485,200 X 70% = $334,600).

Then, that underwater homeowner got an all-cash short sale offer for his home that netted $241,000 to OneWest Bank.

Now, according to the FDIC formula, you take the actual amount that OneWest paid for the mortgage: $334,600 but instead they get to use the ORIGINAL amount of the mortgage of $485,200 MINUS the short sale offer of $241,000 and you have an "Adjusted Loss" of $244,200.

Next, according to the sweetheart deal, the FDIC writes a check to OneWest bank for 80% of the net loss ($244,200 X 80%), so the Taxpayer, courtesy of the FDIC pays OneWest $195,360.

Now, ADD the $195,360 paid by the Government to the short sale offer of $241,000 and One West Bank just made: $436,360 on a loan that they only bought for $334,600! And all they had to do was sell it for what they wanted to!

Guys! They can't lose money on this deal! OneWest Bank just profited on this short sale to the tune of $101,760 -- all because of the sweetheart deal they made with the FDIC.

So, if you ever ask yourself, "Why is it so hard to get a mortgage loan?" The answer is that *there's too much money to be made on short sales and foreclosures.*

Ready for an encore? The house still was sold for less than the original loan amount and the *borrower was forced to sign a promissory note for $75,000* to OneWest Bank!

So who really wins in the end? Well, just let you decide...

By the way, the FDIC just announced that they would start needing to borrow money from the Treasury -- the Treasury being the place where all those Goldman Sachs guys used to call home before they called OneWest Bank home.

If you're as mad about this as we are, share this with as many people as you can, so we can all understand more about this business that we care so deeply about..."

 

Subscribe to my Blog, follow me on Twitter and Facebook and check my other articles if you want to know the truth about what is happening. Share the links and posts with your friends if you find them of value!

Bobby

 

 

 

 

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For those of you that know Bobby Gill, no introduction is necessary.

For those of you that don't - Bobby has been on the property scene for 10 years.
He has always had his ear to the ground and been ready to help those with less experience. If you're familiar with Parmdeep Vadesha's Tycoon Forum, he was a big contributor there. He has covered (and has personal experience) in renting, auctions, letting and estate agents, HMO's, student lets, Banking, Solicitors, Bank Receivers to name a few areas of property.

He likes to learn about and get immersed in various subjects and has more recently been involved in social media, wealth creation and personal development events.

He doesn't claim to be an expert or guru but does have a lot of knowledge in various areas. He's also not afraid to voice his opinion or speak the truth - so whether people agree with him or not, you can be sure he will say it as it is.


Bobby Gill will be writing for MPPT to provide you with an alternative viewpoint on what you hear at all the seminars.

 

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