deutsche bank // Current TV

Rick and Anita Perry: Whaaaa! You’re Bruitalizing US!

Erstwhile First Lady, Anita Perry, stepped in to help her hubby by charging Gov.... more

omnipotentpoobah
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8 months ago
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LA accuses Deutsche bank of being a Slumlord!!

Nakedcapitalism: (link below)
Yves Smith-
This week seems to be open season on Deutsche Bank. The Department of Justice suit on them over FHA loans was singling them out when a lot of US banks are every bit as guilty. Now we have a Los Angeles prosecution over Deutsche acting as a slumlord, with the city attorney looking to launch cases against other major securitization trustees, namely HSBC, US Bank, and Bank of New York.
We have pointed out, that banks (more accurately, securitization trustees and servicers) are awful property managers, as anyone who lives in a neighborhood with foreclosed properties will attest. This inattention becomes disastrous in densely populated areas. The story in the Los Angeles Times is about as gripping as real estate gets:

Los Angeles officials say the bank has been a dreadful landlord and neighbor. Prosecutors say that during a yearlong investigation, they found evidence that Deutsche Bank had illegally evicted some tenants, let others live in squalor and allowed hundreds of unoccupied properties to turn into graffiti-scarred dens for squatters, gang members and other criminals.
Police records show scores of alleged crimes committed on the properties, including vagrancy, possession of drugs for sale and assault with a deadly weapon. In December 2007, police found a dead body at a Deutsche-owned house on West 55th Street. In 2008, they discovered prostitution at a house on Evers Avenue…
“This particular bank is … helping to destroy communities,” said Councilman Dennis Zine, one of six members of the Los Angeles City Council who joined City Atty. Carmen Trutanich at a news conference in which they excoriated Deutsche Bank and other banks that have foreclosed on properties in Los Angeles….
Maria Reyes was never sure who owned the Echo Park bungalow she rents with her disabled son. After the original landlord lost it in foreclosure, she paid her rent to the loan servicer. But she said the people she spoke to there turned a deaf ear on her repeated requests for repairs. City records show more than 50 code and habitability violations at the house, including faulty plumbing and a broken front window, which Reyes finally covered with plywood.

Other renters also have had to take matters into their own hands.
Jorge Jimenez, 30, got no response when he complained about a collapsed floor in the bedroom of his Deutsche-owned home on East 48th Street, so last year, he paid several hundred dollars for materials to rebuild it himself, he said.
“The floor was falling, and they wouldn’t do anything” Jimenez said. “They wouldn’t say anything when we complained.”
In the bathroom of the two-bedroom stucco house he shares with his wife, son and another couple, the shower is missing tiles and the faucets won’t stop dripping. Jiminez has wrapped plastic bags around them to try to stop the flow.
In the kitchen, he and his family have to use pliers to turn the water on and off because the handle is broken.

Deutsche offered a lame defense:

“As we have repeatedly advised the Los Angeles city attorney’s office, loan servicers, and not Deutsche Bank as trustee, are contractually responsible for both the maintenance of foreclosed properties and any actions taken with respect to tenants of foreclosed properties,” spokesman John Gallagher said in a statement.

I give the odds of this washing as close to zero. The servicer is effectively a subcontractor to the trustee; the responsibility ultimately resides with the trustee. If the trustee could somehow argue that the servicer had misled him (by withholding or falsifying information), the trustee might be able to shift liability onto the servicer. The spectacle of the servicers and trustees pointing fingers at each other in these cases ought to be amusing.
http://www.nakedcapitalism.com/2011/05/los-angeles-accuses-deutsche-bank-of-being-a-slumlord.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29Nakedcapitalism: (link below) Yves Smith- This week seems to be open season on... more

figgdimension
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1 year ago
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L.A. PROTECTS HOMEOWNERS, WHILE OBAMA WON'T !

Los Angeles sues Deutsche Bank for slumlord practices and contributing to the... more

COMMONSENSEFORCOMMONGOOD_COM
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Deutsche Bank Defrauds in Mortgage Loans-US sues $1 Billion. « Ramanan50's Blog

it is normal for Big banks to defraud.... more

ramanan50
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Atractiva emisión de bonos de Bancolombia

Tanto las casas de bolsa colombianas como las internacionales ven la inversión... more

sdieditor
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Nuns ask Goldman Sachs bosses whether they're really worth $69.5m

Let's here it for the sisters!

By Richard Blackden 6:00AM BST 04 Apr 2011

The proposal will be put forward at the Wall Street bank’s annual general meeting next month by the orders, who own shares in Goldman, the bank revealed in a filing with the Securities and Exchange Commission.

The Sisters of Saint Joseph of Boston, the Sisters of Notre Dame de Namur, the Sisters of St. Francis of Philadelphia and the Benedictine Sisters of Mt. Angel want Goldman’s compensation committee to report back by the beginning of October.

The bank’s pay practices have faced criticism from religious orders in the past, but this call comes as Goldman revealed last week that its five most senior executives were awarded $69.5m in pay last year despite a drop in the bank’s profits.

Mr Blankfein, who famously said in an interview in 2009 that the bank was doing “God’s work”, received a cash bonus of $5.4m as part of a total pay package of $14.1m for last year.

The Benedictine nuns, along with the US charity, The Nathan Cummings Foundation, also asked Goldman’s committee to explore “how sizeable layoffs and the level of pay of our lowest paid workers impact senior executive pay.”

Goldman has been a lightning rod for public anger at Wall Street since the crisis erupted, even though that outcry is now not as loud as in Britain. Late last year the bank changed how it reported its results to show how much it made from trading and its own investments.

In the SEC filing, the bank said that shareholders already have enough information to assess how Goldman rewards its executives and a further report would “entail an unjustified cost to our firm and would not provide shareholders with any meaningful information.”

Last year, Morgan Stanley and Deutsche Bank were sued by a group of Irish nuns for allegedly failing to redeem an investment for them.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8425222/Nuns-ask-Goldman-Sachs-bosses-whether-theyre-really-worth-69.5m.htmlLet's here it for the sisters! By Richard Blackden 6:00AM BST 04 Apr 2011... more

GwenSam
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1 year ago
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4 Older Documentation on Mortgage FRAUD via Docx and the Linda Green Signature - Docx

More older documentation on mortgage fraud - with a signature by someone named Linda... more

GwenSam
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1 year ago
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Docx - PUBLIC CALL TO ACTION FROM ADVOCACY GROUP on MORTGAGE FRAUD - THE LINDA GREEN SCANDAL AT DOCX

EVEN OLDER Press (of sorts) pertaining to the Mortgage Fraud at Docx - via Linda Green... more

GwenSam
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MoRTGAGE FRAUD - Linda Green Signature - Docx

OLDER Press pertaining to "a" "LINDA GREEN" signing 10 of... more

GwenSam
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IS LINDA GREEN signed on YOUR MORTGAGE - This STORY can't be posted enough

These days, this story can't hit enough computer or tv screens, newspapers, home... more

GwenSam
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MORTGAGE FRAUD - Linda Green - 60MINS REACHES MILLIONS WHO MISSED HEARING THIS STORY

Is your mortgage signed by someone named Linda Green? Repeating a story that has... more

GwenSam
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Deutsche Bank opened a casino in Las Vegas

Deutsche Bank opened a Las Vegas casino and hotel Cosmopolitan

aacaars
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1 year ago
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It’s Not The Great Recession, It’s The Great BANK ROBBERY

Courts Helping Banks Screw Over Homeowners | Rolling Stone The foreclosure lawyers... more

joeeddy
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1 year ago
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S$1.18 Billion More Than 50% Acquistion Proposal to Khazanah's Parkway Holdings Stakes

Today, Singapore Parkway Holdings was given an offer of S$1.18 billion by Integrated... more

f4schennai
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2 years ago
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UK: Three arrest in biggest ever insider trading swoop

Three leading City financiers were arrested yesterday on suspicion of making hundreds... more

Flare_Network
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2 years ago
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IMF- Borrows Money from Europe to Increase Lending Powers to Africa & South America-15 Bil Euros

IMF Signs €15 Billion Borrowing Agreement with Deutsche Bundesbank Press Release... more

kingfugazi
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2 years ago
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AIG Lists Banks it Paid W/ YOUR MONEY!!

Financial companies that received multibillion-dollar payments owed by A.I.G. include... more

smallgod
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3 years ago
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Firefighters Distress Calls Went Unheard

Firefighters sent more than 30 distress calls from a burning ground zero skyscraper... more

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3 years ago
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