Quote:
Originally Posted by snapple candy  tnt,
good luck on your search for an attorney that is willing and capable to take on this fight. I ran into someone while working whom was part of a group of small investors. They have had luck achieving principals reductions and are filing lawsuits. They have had great success with the QWR audits and particurly I think asking for the "wet" signature loan papers....the originals. Additionally he mentioned a trick to stop an auction sale...quit claim the deed and get it registered just a few days before a sale. Hadnt heard this one before. One case where they cannot obtain the wet signature loan docs, they are suing the lender for 3 X the loan amount. |
It's CRAZY that there is such a land mine of winnable (legal) cases out there and NO ONE is stepping up to the plate to (legally) help these American's whose lives have been completely financially destroyed for yrs to come, maybe forever, due to this housing crisis and now overall econ crisis. Do law schools ONLY pump out corp representors? We need attys w/ conviction similar to the ones who volunteer for the Innocence Project. Ya know, the only attys (or law students for god's sake) who are trying to prove someone's REALLY innocent of some crime at their 9th hour. And, they usually prove their cases by getting a hold of the "lost" DNA somewhere.
Where's all the Perry Mason's out there trying to make a name for themselves? This crisis is the PERFECT oppty for young, smart attorneys w/ convictions and chutzpah to be legal trailblazers and put these lenders and Wall St. in their places for good. Like New York D.A. Ferdinand Pecora. An Italian immigrant w/ chutzpah in the 30s. Where's all those super type A, testoserone driven, IDEALISTIC, young attorneys who want to make a legal name for themselves and help their fellow country folk in such a dire time of need ? Where's the Gerry Spence's? The Erin Brockovich attys? They'll get their $$$$$ back 1000 fold down the road w/ success, notoriety, etc. Once they win and expose this mass fraud for what it was/is, the world is theirs, as far as I'm concerned. Aren't there ANY men or women with law degrees left in this country w/ real chutzpah? That don't just see law degrees as the road to riches? That flock like sheep to defend the corp perps ad nauseum? What are they pumping out of these "Ivy League" law schools, anyways? The same idiots that Harvard pumps out ad nauseum re "MBAs" who do nothing to contribute to the country but take from it, perp it and then walk away w/ their gazillions before they're discovered? Or they systematically go into gov't so they can call all the financial shots in the econ, and help their MBA buddies on Wall St. ? Then after their "public dis-service" in gov't return to gazillion dollar jobs on Wall St. w/ their buddies after they've successfully put into place their pro Wall St. laws? Just what are they teaching and promoting in these "Ivy League" schools anyways ? Law ? Business? Ethics? Nada. Just nada. Big, big bucks to produce these criminals? I say scrap these programs and start over
. There is sooo much American ingenuity, creativity and brain power that is flushed down the toilet for the worship of money. Solely. At any cost. It doesn't have to be that way. We can make a profit and not lose our humanity in the process. So, all you idealistic, young attorneys, take a risk and change the face of your profession. Actually advocate for average Americans, for a change. You will be greatly rewarded. We need a good Sicilian to get the job done.
FERDINAND PECORA
From Wikipedia, the free encyclopedia
Ferdinand J. Pecora (January 6, 1882 – December 7, 1971) was an American lawyer and judge who became famous in the 1930s as Chief Counsel to the United States Senate Committee on Banking and Currency during its investigation of Wall Street banking and stock brokerage practices.
Ferdinand Pecora was born in Nicosia, Sicily, the son of Louis Pecora and Rosa Messina who emigrated to the United States and New York City with his parents. He earned a law degree from New York Law School and eventually worked as an assistant district attorney in New York City, during which time he helped shut down more than 100 bucket shops.
Originally a Progressive Republican, Ferdinand Pecora was appointed Chief Counsel to the U.S. Senate's Committee on Banking and Currency in the last months of the Herbert Hoover presidency by its outgoing Republican chairman, Peter Norbeck, and then continued under Democratic chairman Duncan Fletcher, following the 1932 election that swept Franklin D. Roosevelt into the U.S. presidency and gave the Democratic Party control of the Senate.
The Senate committee hearings that Pecora led probed the causes of the Wall Street Crash of 1929 that launched a major reform of the American financial system. Pecora, aided by John T. Flynn, an Irish-American journalist, and Max Lowenthal, a Jewish lawyer, personally undertook many of the interrogations during the hearings, including such high-profile Wall Street personalities as Richard Whitney, president of the New York Stock Exchange, George Whitney a partner in J.P. Morgan & Co. and investment bankers Thomas W. Lamont, Otto H. Kahn, Albert H. Wiggin of Chase National Bank, and Charles E. Mitchell of National City Bank (now Citibank). Because of Pecora's high-profile work, the hearings soon acquired the popular name the Pecora Commission, and Time magazine featured Pecora on the cover of its June 12, 1933 issue.
Pecora's investigation unearthed evidence of irregular practices in the financial markets that benefited the rich at the expense of ordinary investors, including exposure of Morgan’s “preferred list” by which the bank’s influential friends, including Calvin Coolidge, the former president, and Owen J. Roberts, a justice of Supreme Court of the United States, participated in stock offerings at steeply discounted rates. He also revealed that National City sold off bad loans to Latin American countries by packing them into securities and selling them to unsuspecting investors, Wiggin had shorted Chase shares during the crash, profiting from falling prices and Mitchell and top officers at National City had helped themselves to $2.4 million in interest-free loans from the bank’s coffers.
Spurred by these revelations, the United States Congress enacted the Securities Act of 1933 and the Securities Exchange Act of 1934. With the United States in the grips of the Great Depression, Pecora's investigations highlighted the contrast between the lives of millions of Americans in abject poverty and the high-rolling lives of such financiers as J.P. Morgan, Jr.; under Pecora's insistent questioning, Morgan and many of his partners admitted that they had paid no income tax in 1931 and 1932; they explained their failure to pay taxes by reference to their losses in the stock market's decline, but this explanation won them no sympathy.
After Pecora closed his investigations, on July 2, 1934, President Roosevelt appointed Ferdinand Pecora a Commissioner of the newly formed U.S. Securities and Exchange Commission (SEC). In 1939 Pecora wrote a book about the Senate investigations titled Wall Street Under Oath: The Story of Our Modern Money Changers. On January 21, 1935, Pecora resigned from the SEC and became a judge of the New York State Supreme Court, a position he held until 1950, when he ran unsuccessfully against Vincent R. Impellitteri for Mayor of New York City. Returning to the practice of law, Pecora represented such major clients as Warner Bros. Pictures Distributing Corporation et al. as respondents before the United States Supreme Court in the 1954 case, "Theatre Enterprises v. Paramount, 346 U.S. 537.
Ferdinand Pecora died in 1971.
There is a brief entry for Pecora in the Dictionary of American National Biography (Oxford University Press, 1999).
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