Archive for the ‘Florida’ Category
Allegations Of OFFICIAL Corruption In Florida
March 26th, 2010 | 
Author: Allegations Of OFFICIAL Corruption In Florida
Posted by Karl Denninger
If true, this is serious stuff:
This is a foreclosure action filed by WELLS FARGO BANK, NA (the “BANK”). The BANK is represented by Florida Default Law Group, P.L. (“FDLG”). On behalf of the BANK in this case, and on behalf of other clients in other cases, FDLG filed affidavits to establish that the attorneys’ fees it was allegedly paid were reasonable. The affidavits purport to have been executed by Lisa Cullaro, the appointed expert on attorneys’ fees. The notary who allegedly administered the expert’s oath and vouched for her signature was Erin Cullaro, a former employee of FDLG and now an Assistant Attorney General in the Economic Crimes Division of the Office of the Attorney General.
Oh oh.
Read the filings (at the above link); they appear to show evidence of outright fraud – that is, alleged “notarizations” on dates and times where the alleged notary was not present in Florida and thus could not have executed them.
There are additional allegations in this case, of course – bogus assignments, affidavits and other similar games – all illegal.
This case bears watching – if the state is involved in this sort of thing and does not immediately come down on this like a sledgehammer then again one is left to wonder whether the government has become a felon.
The implications of such, if true, are not pretty.
Posted in Banks, Corruption, Economic Crisis, Financial System, Florida, Wells Fargo | 
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Grayson Rips Bernanke Over Latest AIG Bailout, Insinuates Attempted IRS Fraud In Grossly Illegal Deal
One day, Vince McMahon will pay handsomley to get Ben Bernanke and Alan Grayson in the squared circle. Until that day, we should just hope and dream. In the meantime, we have litters and public appearances by the Florida Congressman, who takes the latest AIG “taxpayer payback” opportunity to remind everyone of just how deeply he loves the “we create money out of thin air” institution that is the Federal Reserve.
I write with concern about two announced deals that are lauded by AIG CEO Robert Benmosche as AIG’s plan to ‘pay back the taxpayer’. In reading through the deal, it looks to me like the Federal Reserve is simply engaged in yet another disguised bailout of AIG. It’s not surprising that the New York Fed continues to shovel money at AIG using its balance sheet, since this seems to be official policy, but this time, the bailout also involves cheating the IRS.
In describing the deal specifics:
This relationship is not significantly different from just making the subsidiaries collateral for the existing loan from the New York Fed, with four exceptions. One, the FRBNY’s right are downgraded in this deal from creditors to preferred shareholders. Two, AIG gets to claim “repayment” and take a tax loss to reduce the company’s income taxes. Three, the FRBNY credit facilities are already collateralized. Four, the New York Fed owns nearly 80% of AIG, putting it on all sides of the deal.
And most brazenly, and deserving of applause, the allegation that Bernanke is implicilty breaking the law by his most recent AIG bailout:
As the New York Fed owns most of AIG, this deal could be considered a faked sale to generate a capital loss for the purposes of injecting Treasury funds into AIG without the consent of Congress. Please explain the legality of the arrangement.
Full Grayson letter to Bernanke:
| Attachment | Size |
|---|---|
| Bernanke Letter on AIG 12-70001.pdf | 905.68 KB |
Posted in AIG, Alan Grayson, American International Group, Balance Sheet, Ben, Ben Bernanke, Bernanke, Congress, Corruption, Creditors, Economy, FED, Federal Reserve, Financial System, Florida, Fraud, Grayson, IRS, Money, New York Fed, Robert Benmosche, Tax, Treasury, pay, policy, taxes |
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