[Occupymendocino] [Fwd: Re: notes from Boonville meeting with Supes corrected]
agnes at mcn.org
agnes at mcn.org
Sun Feb 10 14:23:04 PST 2013
---------------------------- Original Message ----------------------------
Robin, Hope you don't mind my editing. I heard it differently and deleted
the sentence re notary publics, and added the Att Gen of NY lawsuit re the
consent decree in 2011.Hope this is helpful.
Agnes-
--------------------------- Original Message ----------------------------
Subject: Re: notes from Boonville meeting with Supes corrected
From: bodhirobin at pacific.net
Date: Sat, February 9, 2013 12:24 pm
To: "Agnes Woolsey" <agnes at mcn.org>
Cc: "Peter Good" <ukiahnow at gmail.com>
ellenrosser at gmail.com
"Tom Davenport" <tom.davenport at vintagenet.us>
annrennaker at live.com
jessie at mac.com
dangjerde at netscape.net
vote at pacific.net
"C.J. Holmes" <cjholmes at cjholmes.com>
"Bart Kaplan" <bobaka2 at comcast.net>
"Steve Scalmanini" <sscalmanini at yahoo.com>
--------------------------------------------------------------------------
another correction.
from Agnes
Here are my notes from the meeting:
Occupy Public Bank Meeting
2/6/13
Present: Dan Hamburg, Ellen Rosser, Robin Sunbeam, Jed
Davis, Dan Jourdy, Peter Good, Steve Scalmanini, Agnes Woolsey, Bart
Kaplan, C.J. Holmes, Tom Davenport, Mike Krauss from the Public Banking
Institutie (via Skype), Ann Whittaker, Jesse Van Sant.
Agenda:
1. Keep local money local
2. Steps to move forward to
creating a Public Bank on the North Dakota model
3. Combat the
ongoing forged foreclosure scam by the big commercial banks
4.
Consider the tactic of using 'eminent domain" for the Public Bank to
buy up foreclosed properties and sell them back to the original owners on
better terms
Minutes:
C.J. Holmes (HOFJ.org) is a real
estate professional who is morally outraged by the mortgage and
foreclosure scam promulgated by the big commercial banks. She described
the MERS (mortgage electronic registration system) which is a shell
database designed to facilitate the theft of properties from homeowners by
transforming tangible properties into intangible properties. This process
bypasses the usual county recorder's records, and enables the mortgage
notes to be bundled into mortgage-backed securities. The whole scam dates
back to 1913 when the Federal Reserve was established to manage the
nation's wealth.
Tangible properties are regulated under
Article 3 statutes, which protects them from being bundled and sold as
securities. Intangible properties are regulated under a different set of
statutes, which enables the bundling and reselling as mortgage-backed
securities.
C.J. described how the banks would rather leave
foreclosed properties empty with a plan to bundle them into intangible
securities for trading in the stock market. The government is permitted
to buy back properties by Eminent Domain. If we establish a Public Bank
in Mendocino County, the bank could buy up all these foreclosed houses and
sell them back to the owners on renegotiated loan terms.
Mike
Krauss spoke from PA via Skype. He reviewed a lot of what we already know
about public banking. He said we must begin by asking several questions:
1) What is our mission?; 2) What funds will be deposited into the public
bank?; 3) Who will manage the PB?; and 4) What structure will we use?
Mike mentioned an example of a PB he facilitated in PA which
deposits only a portion of the funds in each established local bank, and
that way the local banks each partner with the government and don't feel
cut out of the process. He implored us to check out his FAQ's at
www.publicbankinginstitute.org. There is more info also at the Public
Banking Institute website. Mike also mentioned that we will need an
investment pool of $180M - $260M in order to buy back the foreclosed
properties. In the case of securitized loans the chain of title has been
lost so there's no one to pay.
Peter Good eloquently summarized our mission:
1) The mitigation of the economic damage of home foreclosures
2)The issuance of municipal bonds for public works projects
3) Partner with local banks for retail loans
We discussed the legality
issues of recording tangible properties in the MERS database as opposed to
the traditional recording at the county recorder's office.
Jessie said a County Recorder could be seen as aiding and abetting the
recording of forged documents. It was concluded that the recorder's role
is just to record every document that comes in, not to judge if they are
forged or not.
Occupy Ukiah
approached Susan Ranochak a year ago about the forged foreclosure
documents. She said that there are most likely some, but it would take an
audit to find out. Audits in other municipalities have discovered as high
as 80% of foreclosures, and 100% in the MERS system were forged. Susan
said the county doesn't have the $18,000 (poss $36,000 - can't remember
exactly) cash to pay for an audit. Dan Hamburg said that isn't much money
and the county could afford it now. Occupy Ukiah volunteered to do the
audits for free. Susan said we would first need to be trained. The last
we heard, it got sent to the state level to prepare a manual for volunteer
auditors. C.J. said that some professional auditors will do it for free.
C.J. said that she will look into finding an auditor that will do it for
free or at a discount.
What happens once we expose the forged
documents with the audit? We can make notary complaints and send them to
the DA, Attorney General, and the county notary authority. Phil Ting of
SF is in the State Recorder's Assn and he did an audit in SF which exposed
shockingly high levels of fraud. We can also submit Affidavits of
Authority for each fraudulently robosigned foreclosure. Occupy Mendocino
is planning
to send a letter to every current owner in foreclosure to participate in
this process. SP900 passed last summer and took effect January 1
essentially admits culpability on the part of the big commercial banks.
Dan Hamburg mentioned that there was a meeting of the EDFC
(Economic Development & Financing Corporation) with special guest John
Courrie the end of last September in which the issue of a public bank was
discussed. The report of that meeting will be presented to the BOS this
coming Tuesday. The agenda will be posted online by Friday. It is
currently listed as agenda item 6C. Dan will make sure the issue of
public banking is on the agenda.
The next step is to appeal
to the local retail banks and get them to buy into the idea of a PB.
Without the support of local retail banks, it will never happen. C.J. will
make a list of benefits to local retail banks and post it on her website,
which we can use to try to get the cooperation of the local banks. We
should also try to get the buy-in of the local Chamber of Commerce. On
Sunday, Occupy Ukiah will compose a pamphlet to begin to educate the
public about the benefits of a county PB.
Robin and Ellen
will go to SBMC later in February to appeal to them with the benefits of a
PB.
> Dear Robin, Peter and Charlie et al,
>
Steve sent me a few notes from the Wed.meeting. I took a few re
> advice from Mike Krauss of PBI.org on skype to all to go to
> www.publicbanking.org and look at FAQs.Please come Tuesday and
> speak to the issue when you sign up to speak to the subject:
> Economic Development Finance Corporation.
>
> Dan
Hamburg said he was going to request that a Public Banking task force
> be included in the EDFC funding request.At that time he would
appreciate
> people speaking to the need for Public Banking (to
bring a stream of
> income to this strapped county). Please go to
the above website for FAQs.
>
> You may sign up anytime
before the agendized item which will be publicized
> on Monday.
Steve will do a telephone call to let you know of the timed
>
item. Occupy Mendocino will be coming for Wednesday to support Jed
Davis
> at the Recorder's office at 2:00 and I hope to see many of
you there
> because Supervisor Carrie Brown has notified Jed that
she will be there
> with the DA also.
>
> Cheers
for the two Dans,
> Agnes
Read my blogs:
http://bodhis-ruminations.blogspot.com/
http://saga-of-quackers-the-duck.blogspot.com/
JuicePlus+ for
robust health www.SunbeamJuicePlus.com
The new fire in the
growth of Liberty and Democracy initiated by the Arab Spring and OWS has
accelerated the process our sovereign People taking back control of our
government from the corporate oligarchy. We will non-violently take back
our government from withing the system set up by our Founding Fathers by
amending the Constitution.
https://www.facebook.com/pages/Move-to-Amend-Ukiah/331350666895175,
http://movetoamend.org/ca-ukiah
Read my blogs: http://bodhis-ruminations.blogspot.com/
http://saga-of-quackers-the-duck.blogspot.com/
JuicePlus+ for
robust health www.SunbeamJuicePlus.com
The new fire in the
growth of Liberty and Democracy initiated by the Arab Spring and OWS has
accelerated the process our sovereign People taking back control of our
government from the corporate oligarchy. We will non-violently take back
our government from withing the system set up by our Founding Fathers by
amending the Constitution.
https://www.facebook.com/pages/Move-to-Amend-Ukiah/331350666895175,
http://movetoamend.org/ca-ukiah
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