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Government Bankruptcies: Needs of Citizens Take Priority Over Creditor Claims (Assured Guaranty v. Puerto Rico) — MEDIATBANKRY

By: Donald L Swanson Puerto Rico’s long-standing financial straits, rendered more dire by Hurricane Maria, create an issue of bankruptcy priority: should available funds be used to, (i) address hurricane devastation and daily citizen needs, or (ii) pay creditor claims when due? –The answer to this priority is simple and easy in Puerto Rico: citizen needs […]

via Government Bankruptcies: Needs of Citizens Take Priority Over Creditor Claims (Assured Guaranty v. Puerto Rico) — MEDIATBANKRY

I agree that the needs of the citizens should come first.  I would not be surprised if there is more litigation in the bankruptcy courts regarding this issue.

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Royal Bank of Scotland Trained Employees on How to Forge Signatures — Livinglies’s Weblog

Fraud for the first time in history has been institutionalized into law. It is foolishness to believe that the banking industry is trustworthy and that they have the right to claim legal presumptions that their fabricated documents, and the forged documents are valid, leaving consumers, borrowers and in particular, homeowners to formulate a defense where […]

via Royal Bank of Scotland Trained Employees on How to Forge Signatures — Livinglies’s Weblog

Unless the big banks are forced to face the consequences of their actions this type of behavior will continue.  Governments around the world need to follow the lead of Iceland and begin prosecuting and jailing bankers.

Duke Law: The Bootstrap Trap

The corporate owned media is constantly repeating the mindless mantra that a person’s credit score is so important. That is only true up to a point. It is better to live as frugally as possible and to save up and pay cash for items whenever possible to avoid having to borrow unless absolutely necessary. But you will rarely, if ever, find any mention of this strategy in the major media.

Livinglies's Weblog

The Bootstrap Trap

By J. Guggenheim

Duke Law Professor Sara Sternberg Greene’s paper The Bootstrap Trap  describes the tragic oppression of consumer credit on low-income households as people strive desperately to become secure and self-sufficient and the limited influence of poverty law. Professor Sternberg Greene, a practicing sociologist, evaluates the disturbing impact of credit scores on low-income consumers’ lives- that are also applicable to the middle class living paycheck-to-paycheck.

“…..respondents referred to their credit reports or scores as “the most important thing in my life, right now, well besides my babies,” as “that darned thing that is destroying my life,” and as “my ticket to good neighborhoods and good schools for my kids.” Many respondents believed that a “good” credit score was the key to financial stability.”-Greene

“One respondent, Maria, told a story about a friend who was able to improve his score.  She said…

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$2K goes missing from couple’s bank account, but it wasn’t a thief. Guess who?

In my personal opinion the money was taken by a thief, the thief was Bank of America.

Justice League

Karen and Lindsay Leveen of Sausalito had been victims of bank fraud once before. So when they found almost $2,000 missing from their checking account, they thought it happened again. The real shock? Finding out who actually took their money.

“We were horrified,” Karen Leveen said. “We said, ‘this is like stealing.”’

They realized their money was gone when they tried to use their debit card at a retail store.

“They said this card won’t cover your purchase and we said, ‘why?’ We thought they were joking.” Karen Leveen recalls. “There should be plenty of money in there.”

“We had just made deposits into that account,” Lindsay Leveen added. “Karen’s social security went into that account, my pension.”

“We thought somebody had drained our bank account,” Karen said. “We became alarmed and went to the nearest (bank) branch.”

A manager at Bank of America confirmed someone had just withdrawn $1,956…

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New Tax Scams Are On The Rise – Protect Yourself And Your Tax Return — Consider The Consumer

They say the only things certain in life are death and taxes, and, well, tax scams. The Internal Revenue Services (IRS) just reported yet another disturbing trend of targeting tax preparers this tax season. This year, however, the schemes seem a bit more sophisticated, making you a bit more susceptible. Even though this year’s tax season has…

via New Tax Scams Are On The Rise – Protect Yourself And Your Tax Return — Consider The Consumer

Propping Up a High-Price Model of Higher Education: In re Pratola — MEDIATBANKRY

By Donald L. Swanson The U.S. Government continues to prop up a high-price model of higher education, forcing students to bear the brunt of such foolishness! News reports are filled these days with student loan crisis stories. We hear how: –“the number of Americans severely behind on payments on federal student loans reached roughly 4.6 million […]

via Propping Up a High-Price Model of Higher Education: In re Pratola — MEDIATBANKRY

The fact that anyone was able to obtain student loans totaling over $500,000 for an undergraduate degree in “interdisciplinary studies” and a graduate degree in “cinema and television production” just shows that student loan lenders do not care about whether or not the “student” can repay the loan as the United States Government (taxpayers) will guarantee that the loan is repaid.  That needs to stop immediately!

 

A Little Bit of Foreclosure Soap Won’t Wash Away Those Unclean Hands — Livinglies’s Weblog

One who comes into equity must come with clean hands else all relief will be denied him regardless of merit of his claim and is not essential that act be a crime; it is enough that it be condemned by honest and reasonable men” Roberts v Roberts, 84 So.2d 717 (Fla. 1956) By Joel Sucher, […]

via A Little Bit of Foreclosure Soap Won’t Wash Away Those Unclean Hands — Livinglies’s Weblog

The United States Supreme Court has stated that the unclean hands doctrine demands that a plaintiff act fairly in the matter for which he seeks a remedy. He must come into court with clean hands, and keep them clean, or he will be denied relief, regardless of the merits of his claim. Precision Co. v. Automotive Co. (1945) 324 U.S. 806, 814-815, 65 S.Ct. 993, 89 L.Ed. 1381.

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