| User Info
| Mass Joinder Update: Holy Moly in forum [Market-Ticker]
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Seaterk
Posts: 174
Incept: 2009-04-30
Los Angeles
Banned
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I really hope she gets slapped down for this but I have no faith in any of the courts any more. They are all so corrupt that who really believes that ordinary citizens will get a fair shake in them any more. Just look at the bond holder for GM, the government wanted the company and the courts simply said "OK", and the recent ruling from the German high court, just another rubber stamp. We really have no recourse in the courts for this king of crap any more and I'll predict that this is a big fat nothing burger as well.
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Jstanley01
Posts: 8182
Incept: 2008-07-30
San Antonio, Texas
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You mean to tell me that a prosecutor can't abuse her authority without exposing herself to some kind of silly civil-rights suit?
Good grief. If we're going to start holding members of TPTB accountable for their actions, you've gotta wonder WTF is going wrong with this country.
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You can't cheat an honest man. ~P.T. Barnum
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Eaglewwit
Posts: 6054
Incept: 2007-11-30
SoCal
Banned
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A corrupt politician, in California no less. I am shocked I tell you.
Perhaps all the big unions that supported this democrat can explain to their members why they support a AG that takes bribe money from a TBTF Bank that is illegally throwing their members out of their homes.
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Loves2learn
Posts: 1210
Incept: 2009-01-28
The free (for now) state of Kansas
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Guess I'm not the only cynic residing here at TF, at least two others commented before me. No comment needed.
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A poor person's farm may produce much food,
but injustice sweeps it away. Proverbs 13:23
The illegal we do immediately. The unconstitutional takes a little longer.
Henry Kissinger, New York Times, Oct. 28, 1973
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Leapfrog
Posts: 33
Incept: 2011-01-12
CA
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At least we taxpayers/consumers in California now know where we stand with this woman. Her mixed signals that she was going after the banksters was just a big joke on us. Haha. She's as bad as Bondi. At least Bondi is bold and open about her corruption. Harris is two-faced. I don't know which is worse, but I suspect the two-faced approach is. She's no better than old Jerry Brown, whose sister was a Countrywide/BOA executive. As the AG he NEVER held CWs feet to the fire on the mod settlement and let them get off scot-free and reneg on the mods they were supposed to have given.
I now also know why my numerous complaints and comments about the banks and MERS to the AG website were deliberately ignored. Makes perfect sense. I did send an e-mail a few minutes ago to unload on her exactly how I feel about her corruption and bankster butt-kissing. How do I start a recall effort on this woman? Anyone know? How many signatures do I need?
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Lowbeyond
Posts: 16930
Incept: 2008-02-11
CO aka West NJ/East CA
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CA will have roving blackouts due to all the shredders working overtime....
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Maybe it was a birdy bread-bomber from the future?!
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Genesis
Posts: 130775
Incept: 2007-06-26
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It's going to be fascinating trying to figure out the truth on this one.
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Do_the_math
Posts: 1714
Incept: 2007-08-09
Canyon Lake
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Let me get this straight, the AG and the CA Bar shut down an illegal scam after months of investigation, and the AG gets roasted?
The issue of the mass joinder scandal and the deception of the marketers and attorneys involved has been well chronicled here on the Ticker Forum. Yet the minute Stein files a lawsuit, everyone just buys the argument hook, line, and sinker.
Anyone actually read the State's Complaint, TRO, Receiver's report, etc? Kramer, et al, were shot down in court yesterday, and the Court ruled that the State's case would likely prevail. The State has evidence of a mass joinder organized Ponzi scheme in which non-attorneys (many who were involved in loss mitigation scams and were the same sleaze balls who sold subprime loans) used deceptive sales tactics to bilk thousands of desperate homeowners out of millions of dollars.
Understand that the monies collected by the non-attorney affiliates were deposited into the attorney's accounts, and the attorneys paid the affiliates / in-take marketers. In fact, the non-attorney affiliates and boiler room operators received the lion's share. It is documented.
Now if Stein is innocent, and Kramer et al merely hijacked his trade dress, you would think that Stein would be going after those individuals for embezzling funds that were payable to him and for damaging his reputation. Instead of going after those who supposedly "victimized" him and cooperating with the AG and Bar to clear his name, he comes up with an unlikely tale that the banks are behind this (this is of course, despite thousands of complaints and prior warnings of regulators).
So it is okay to rip off Grandma as long as the people doing the grifting aren't big banks?
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"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe." -Albert Einstein
http://contributor.yahoo.com/user/954540/krista_railey.html
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Do_the_math
Posts: 1714
Incept: 2007-08-09
Canyon Lake
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Why Judge Highberger did not shut this down back when Spivak et al filed the Motion to Remove Stein as Co-Lead counsel on the Ronald v B of A case and revealed the illegal marketing associated with the case is beyond me. But I will point out that Judge Highberger was not presented with the level of evidence and Declarations of investigators (resulting from a multi-agency investigation that took place over several months) that was presented to the Judge that granted the TRO and authorized the seizure of the firms operations and assets.
As to the Ronald v. B of A, the Federal Court overruled Highberger and shot down the First Cause of Action.
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"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe." -Albert Einstein
http://contributor.yahoo.com/user/954540/krista_railey.html
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Steelhead23
Posts: 2043
Incept: 2008-09-09
Portland OR
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Thanks DTM. What is clear here is that when a state takes on an attorney/grifter a counter-attack is likely. And as for this forum, many, too many I think, are ready to always blame the government. Its understandable - there is plenty of government corruption, but even the advocates for the public interest are getting tarred by the same brush. I suspect that in this case, Ms Harris is trying to protect the public and this lawsuit is merely a last ditch defense. We shall see.
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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
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Jstanley01
Posts: 8182
Incept: 2008-07-30
San Antonio, Texas
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Public realm or private realm, truth is the scarcest commodity of them all.
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You can't cheat an honest man. ~P.T. Barnum
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Do_the_math
Posts: 1714
Incept: 2007-08-09
Canyon Lake
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Stealhead, I agree wholeheartedly that this is a last ditch attempt to curry public outrage and distort the facts.
The only thing worse than drive-by media is the drive-by peanut gallery. This is a very complex case with lots of players and there has been an enormous of spin and misinformation released over the months. The reality is that the following facts have been established:
1. Philip Kramer and a handful of attorneys participated with non attorneys to market the lawsuits- the purpose of which was to replace lost cash flow from modifications after advance fees were shut down.
2. The attorneys illegally split fees with non attorneys and participated in running and capping.
3. The non-attorney affiliates set up boiler room operations, and used deceptive advertising to bring clients for the law firms.
4. The monies collected by the non-attorneys (who overstated claims and improperly gave legal advice) was deposited in the attorney;s bank accounts.
5. The attorneys then made out checks to the marketers who received thousands of dollars on each transaction.
6. Thousands of desperate homeowners paid thousands of dollars only to not receive services or be added to the cases.
7. Philip Kramer et al, tried to conceal their actions by setting up intake firms and repeatedly lied to the public in stating that they non attorneys were not authorized. Kramer even engaged in an elaborate maneuver that involved creating a warning page on his website where he posted Cease & Desist letters and a list of banned affiliates. Only problem was that it was exposed that some of the affiliates listed on the warning page simply turned around and started doing business with the approved in take firm. Once it was exposed that the banned affiliates were still doing business under a new name, the warning page and Cease & Desist letters came down.
There is a wealth of information in the Complaint and the Receiver's report.
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"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe." -Albert Einstein
http://contributor.yahoo.com/user/954540/krista_railey.html
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Jstanley01
Posts: 8182
Incept: 2008-07-30
San Antonio, Texas
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Do_the_math wrote..The only thing worse than drive-by media is the drive-by peanut gallery. Welcome back to TickerForum... 
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You can't cheat an honest man. ~P.T. Barnum
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Lms
Posts: 201
Incept: 2008-09-30
Punching Bernanke in the face
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Do_the_math has got it right. Stein is a scam artist trying to enrich himself through mass marketing of a lawsuit that is unlikely to succeed. Also there are rules governing attorney marketing and fee splitting with non-lawyers, and there are specific laws in CA regarding accepting prepayment for loan modification services. It sounds like Stein violated all of them. He is a hustler dressed up as a lawyer.
Don't know whether BofA contributed to Harris; don't care. Even if it happened I doubt it had anything to do with Stein's lawsuit. BofA is being sued by the FHFA for $31 billion, by AIG for $10 billion, its stock price has tumbled and it required a bailout from Warren Buffet; in short, it has bigger problems to worry about. Stein's lawsuit is not a threat. It never was. It adds to BofA's already substantial legal costs, but that's all. There is no need for campaign contributions and backroom deals when you can simply go into court and prevail on the merits.
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Do_the_math
Posts: 1714
Incept: 2007-08-09
Canyon Lake
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Here is a drive-by for the peanut gallery on Stein (courtesy of Steve Rhodes) http://getoutofdebt.org/wp-content/uploa....Excerpt: Quote:The July 2008 investigation revealed that Recom / Signalife has a corporate history populated by individuals tied to numerous fraudulent activities. Previously Stein controlled a limited liability company that was the largest shareholder of eMedsoft, Inc., a publicly traded company that later changed its name to Med Diversified, Inc. (“eMedsoft/Med Diversified”) and also served as a director of eMedsoft/Med Diversified. eMedsoft/Med Diversified declared bankruptcy when its largest lender, National Century Financial Industries, Inc. was revealed to be a fraud. As part of the fiasco, the CEO of eMedsoft/Med Diversified pleaded guilty to criminal activities. According to Sparks, Stein sold millions of shared of eMedsoft/Med Diversified stock based on non-public information while actively recruiting new investors in the Company. Sparks also related his experience with Stein with regard to a technology called “Pixbox” that was substantially similar to the truth about Recom/Signalife – Stein touted a revolutionary new technology to Sparks and asked Sparks to recruit investors, but the product never actually existed and was unsalable. Since I know how much everyone here likes insider trading, here is another one: http://www.scott-scott.com/cnt/cp/signal....Quote:
5. Stein did not operate Recom/Signalife for the purpose of developing and
selling products based on the Model 100 technology. Instead, Stein and a cadre of cohorts
used the Company as a vehicle for stock manipulation. Without being reported in SEC
filings, Stein is alleged to have traded heavily in Recom/Signalife stock for the purpose of
manipulating the share price, including by “shorting”3 the stock after pumping up the share
price by causing the Company to release false positive statements. In doing so, Stein
would profite in two ways. First, he profited as the stock rose as a result of coordinated, manipulative trading or the release of false positive information. Then, once the market
had digested false positive information, Stein would capitalize on the eventual decline in
the share price that necessarily follows false-positive statements by taking “short”
positions. The scheme combines the elements of a classic “pump-and-dump” scheme with
a short-selling strategy.
6. Post-Class Period revelations confirm that Recom/Signalife never had any
products to sell, did not make any sales that produced any revenue and was little more than
a stock manipulation scheme, perpetrated by Stein, including by and through a succession
of Recom/Signalife executive officers.
Here is the Notice of Proposed Settlement of Class Action on the above case: http://shareholdersfoundation.com/sites/....
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"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe." -Albert Einstein
http://contributor.yahoo.com/user/954540/krista_railey.html
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Lms
Posts: 201
Incept: 2008-09-30
Punching Bernanke in the face
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I took a quick read through the Stein complaint. It was good for a few laughs. Gee, how could anyone be taken in by a lawyer who describes himself as the "most feared enemy" of Bank of America and a "superstar who had been beating [BofA] to a pulp for two and a half years."  If I'm not mistaken, Stein has not achieved any recovery in this case for his clients, so it's a little early for the self-congratulations. |
Duc888
Posts: 7368
Incept: 2008-11-06
CT, the UNconstitution State
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Thanks a bunch Do-The-Math for putting it in Lay-mans terms.
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...burp
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